DENVER — Colorado lawmakers returned to the capitol Monday for another special session on property taxes. Gov. Jared Polis called them back in the hopes that they would approve a compromise deal to keep two initiatives off November’s ballot.
Polis said if Initiatives 50 and 108 were to pass, it would have a devastating impact on Colorado.
“It would lead to enormous cuts of funding in our schools,” Polis said. “Enormous cuts for community colleges and colleges. Road funding for counties would have to be diverted to backfill. A lot of problems with these.”
College leaders testified Monday that if the initiatives passed, they would likely have to increase tuition to make up for cuts they’d expect the legislature to make to backfill local governments.
The governor is asking lawmakers to approve a bipartisan plan spelled out in HB24B-1001.
It would build on the work lawmakers did earlier this year with the passage of SB24-233, provide additional tax cuts, and limit the amount property taxes could go up in the future.
In exchange, proponents of the ballot measures would withdraw them.
“We have a public statement and commitment from the proponents that they will not entertain additional ballot measures over the next three assessment cycles, so a minimum of six years,” said State Sen. Chris Hansen, D-Denver.
Hansen helped negotiate the agreement with initiative proponents and is chair of the legislature’s property tax commission.
Michael Fields, the president of Advance Colorado and one of the chief architects behind Initiatives 50 and 108, said proponents will withdraw the measures after lawmakers pass the deal.
“We want assurances that the bill will pass as we've agreed upon,” Fields said. “What it means to homeowners is more relief. It means more relief for businesses too."
But some lawmakers aren’t thrilled about passing a deal they didn’t help negotiate.
Others believe voters should get to decide on the initiatives in November.
“We keep talking about [Initiative] 108 being a risk if it passes,” said State Rep. Scott Bottoms, R-Colorado Springs. “I don’t see it as a risk. I see it as the most amazing thing we’ve seen on property tax yet.”
While supporters admit the deal is not perfect, they say it provides certainty for local governments.
They say it also guarantees homeowners will benefit.
“This gives certainty to [taxpayers] that they will have some additional property tax relief without having to wait and see what happens in November,” said State Rep. Rose Pugliese, the House minority leader, who is co-sponsoring the legislation.
The special session is expected to last at least three days, which is the minimum amount of time needed to approve a bill.
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