S_SA_2023B 11/17/2023 10:27:30 AM Committee Summary

Senator Hinrichsen and Senator Marchman, co-prime sponsors, presented Senate Bill 23B-003 to the committee. The bill directs that TABOR refunds that would otherwise be paid in FY 2023-24 via the six-tier sales tax refund mechanism be instead paid in equal amounts to qualifying taxpayers.

Caroline Nutter, representing the Colorado Fiscal Institute, testified in support of the bill and responded to questions from the committee.

Senators Marchman and Hinrichsen wrapped up their presentation of the bill. Committee members commented on the bill.

The committee recessed.

The committee reconvened.

Senator Liston, sponsor, presented Senate Bill 23B-005 to the committee. For property tax year 2023 only, the bill increases the homestead exemption for seniors, veterans with a disability, and surviving spouses of veterans with a disability from 50 percent of $200,000 to 50 percent of $350,000 and allows seniors who would have qualified for the exemption to claim it if they stopped occupying their primary residence for reasons of medical necessity.

Ryan Parsell, representing the El Paso County Board of Commissioners, testified in support of the bill.

Senator Liston wrapped up his presentation of the bill. Committee members commented on the bill.