I_LOCC_TPTF_2022A 06/24/2022 08:37:15 AM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGINTERIM COMMITTEE LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCE Date 06/24/2022 Attendance Bird X Kolker X Liston X Woog X Benavidez X Hansen X Time 08:37:15 AM to 09:56:55 AM Place SCR 357 This Meeting was called to order by Hansen This Report was prepared by Katie Ruedebusch Hearing Items Action Taken hUpdate on the Task Force Concerning Tax Policy Committee Discussion Only hScope of Tax Policy to be Considered Committee Discussion Only hNext Steps Committee Discussion Only 08:37:18 AM Chair Hansen and Vice-Chair Benavidez provided some opening remarks. Update on the Task Force Concerning Tax Policy - Committee Discussion Only Attachment Tag File Name Attachment A http://www2.leg.state.co.us/CLICS/CLICS2022A/commsumm.nsf/0/BFD541238799...$File/Attachment A.pdf?OpenElement Attachment A.pdf 08:38:07 AM Mr. Phil Horwitz, Vice-Chair of the Task Force Concerning Tax Policy, came to the table to discuss the work of the task force over the last interim. 08:41:29 AM Mr. Horwitz discussed the task force's report on the property tax treatment of short-term rentals. The report may be found in Attachment A and online here: https://leg.colorado.gov/sites/default/files/images/committees/final_report_on_the_property_tax_treatment_of_short_term_rentals.pdf 08:53:39 AM Mr. Horwitz, in response to committee questions, discussed several aspects of the report as well as answered questions about the task force's scope. 09:08:55 AM Mr. Horwitz continued discussing pass through effects, a statewide clearinghouse, and assessor's concerns with short-term rentals. Scope of Tax Policy to be Considered - Committee Discussion Only 09:15:26 AM The committee began discussing its scope for the upcoming year. 09:15:52 AM Katie Ruedebusch, Legislative Council Staff, discussed the procedures of the committee for the upcoming interim. Michelle Colin, Office of the State Auditor, came to the table to discuss the office's tax expenditure reports and the possibility of future presentations. 09:27:27 AM The committee discussed the committee's scope for 2022 and decided to continue with the scope from the 2021 interim. 09:31:55 AM The committee discussed various aspects for the task force's scope. The committee discussed keeping the issue of federal adjusted gross income rather than federal taxable income. The committee discussed the homestead exemption, property taxes, and future narrowing of the task force's scope. 09:42:46 AM Committee discussion on the scope of the task force continued. Next Steps - Committee Discussion Only 09:52:33 AM Mr. Chair discussed the upcoming tasks of the committee and possibilities for the next meeting. 09:56:55 AM The committee adjourned.
