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E49CD6052B1287A787258A23005D5287 Hearing Summary




PUBLIC
BILL SUMMARY For INSTITUTE ON TAXATION AND ECONOMIC POLICY

INTERIM COMMITTEE  LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCE
Date Sep 7, 2023      
Location HCR 0112



Institute on Taxation and Economic Policy - Committee Discussion Only
10:59:23 AM  
Mr. Marco Guzman,
representing the Institute on Taxation and Economic Policy (ITEP), presented
to the committee on state property tax circuit breakers. A copy of his
presentation may be found in Attachment B.
11:03:06 AM  
He continued by discussing
circuit breakers in the US, including Colorado's property tax/rent/heat
(PTC) rebate.
11:05:03 AM  
He continued by discussing options for reforming the PTC including expanding eligibility, raising the income eligibility levels, and restructuring the calculation to threshold-style circuit breaker.
11:07:49 AM  
Mr. Guzman continued by discussing additional policy design questions, such as caps, expanding to renters, percentage of income, and program awareness.
11:10:53 AM  
Mr. Guzman continued
by discussing alternatives to circuit breakers such as homestead exemptions
and growth caps on assessed values.
11:16:59 AM  
Committee discussion continued with Mr. Guzman regarding policy design and flaws.
11:22:59 AM  
Committee discussion regarding service providers and distribution.






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