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Will Governor’s Signing of Senate Bill 303 be the End of TABOR?

Will Governor’s Signing of Senate Bill 303 be the End of TABOR?

May 26, 2023

Will Governor’s Signing of Senate Bill 303 be the End of TABOR?

FOR IMMEDIATE RELEASE Contact: Tony Gagliardi, Colorado State Director, tony.gagliardi@nfib.org, or Tony Malandra, Senior Media Manager, anthony.malandra@nfib.org DENVER, May 26, 2023—With his signature yesterday on Senate Bill 303, Gov. Jared Polis did more than just approve property tax relief, he also set in motion the possible end or transformation of the landmark Taxpayer’s Bill of Rights (TABOR) amendment to the state constitution passed by voters more than 30 years ago. “Senate Bill 303 will bring some property tax relief, but at the expense of TABOR refunds that should be going back to property owners,” said Tony Gagliardi, Colorado state director for the National Federation of Independent Business (NFIB). “The bill also requires the state to reimburse special districts that rely on some of the excess revenue from property taxes for losses incurred by implementing SB 303. If voters approve the initiative required under SB 303 in November, within 10 years the TABOR amendment could be history.” SB 23-303 also states TABOR funds to help with property taxes will be split equally among recipients instead of being based upon total tax paid by residents, according to Gagliardi. Unique among business associations, NFIB takes its positions on issues of importance to small business based on what its small-business-owning members tell it, through surveys, are important to them. An NFIB webinar on SB 303 and TABOR will be held June 6. Gagliardi said NFIB will most likely ballot its membership on the November initiative. Keep up with the latest Colorado small-business news at www.nfib.com/colorado or by following NFIB on Twitter @NFIB_CO or on Facebook @NFIB.CO ### For 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since its founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com. NFIB Colorado 1700 Lincoln Street, 17th Floor Denver, CO 80203 303-860-1778 www.nfib.com/colorado Twitter: @NFIB_CO Facebook: NFIB.CO
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