J_COPT_2024A 08/12/2024 01:36:02 PM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGJOINT COMMITTEE COMMITTEE ON COMMISSION ON PROPERTY TAX Date 08/12/2024 Attendance Jonathan Cappelli X Guyleen Castriotta X Cody Davis X Brenda Dones X Sean Doughrety X Frizell X Loren Furman X JoAnn Groff X Brett Johnson X Kipp X Kirkmeyer X Lori Laske X Bob Olme X Tamara Pogue X Chris Richardson X Ann Terry X Kevin Vick X Andy Kerr (Vice Chair) X Hansen X Time 01:36:02 PM to 05:05:17 PM Place Old Supreme Court This Meeting was called to order by Hansen This Report was prepared by Matthew Becker Hearing Items Action Taken hDiscuss Potential Changes to SB24-233 Committee Discussion Only hCommission Discussion on Potential Changes Committee Discussion Only 01:36:22 PM Chair Hansen gave some opening remarks and thanked the commission for their work. Discuss Potential Changes to SB24-233 - Committee Discussion Only Attachment Tag File Name Attachment A http://www2.leg.state.co.us/CLICS/CLICS2024A/commsumm.nsf/0/3A2AB1D2980D...$File/Attachment A.pdf?OpenElement Attachment A.pdf Attachment B http://www2.leg.state.co.us/CLICS/CLICS2024A/commsumm.nsf/0/B5C6E562D281...$File/Attachment B.pdf?OpenElement Attachment B.pdf 01:37:03 PM Greg Sobetski and David Hansen, Legislative Council Staff, presented to the commission on the fiscal impact of the 2024 property tax measures. The presentation may be found in Attachment A and here: https://leg.colorado.gov/content/jcopt2024acommsched 01:40:25 PM Mr. Sobetski discussed the current status of the ballot analysis process and began by discussing the assessment rates, school finance impacts, and reimbursements under Initiative108. 01:58:50 PM Mr. Sobetski continued by discussing the summary of fiscal impact for Initiative 50. 02:08:46 PM Mr. Sobetski and Mr. Hansen answered several committee questions. 02:19:06 PM Mark Ferrandino, Office of State Planning and Budgeting, presented to the commission on state budget impacts related to property tax. His presentation may be found in Attachment B and online here: https://leg.colorado.gov/content/jcopt2024acommsched 02:20:07 PM He continued by discussing a summary of the impacts of Initiatives 50 and 108 and a summary of Senate Bill 24-233. 02:26:43 PM He continued by discussing a possible new property tax framework for changes to SB 24-233. 02:35:08 PM The discussion continued by highlighting the impacts of new possible framework and Initiative 108. 02:50:19 PM Commission discussion continued with Mr. Ferrandino. 03:07:13 PM Mr. Sobetski and Mr. Hansen returned to the table to discuss Legislative Council Staff's fiscal impact of proposed property tax legislation. Their presentation may be found in Attachment A and here: https://leg.colorado.gov/content/jcopt2024acommsched 05:05:17 PM The committee adjourned.
