E49CD6052B1287A787258A23005D5287 Hearing Summary CLICS/CLICS2023A/commsumm.nsf PUBLICBILL SUMMARY For INSTITUTE ON TAXATION AND ECONOMIC POLICYINTERIM COMMITTEE LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCEDate Sep 7, 2023 Location HCR 0112 Institute on Taxation and Economic Policy - Committee Discussion Only Attachment Tag File Name Attachment B http://www2.leg.state.co.us/CLICS/CLICS2023A/commsumm.nsf/0/3E013713DF16...$File/Attachment B.pdf?OpenElement Attachment B.pdf 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.
