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Companion measure would reduce income tax to 4.2% starting 2027 and preserve funding for education and health-care finance in first fiscal year, reviewers seek
Summary
Proponents told reviewers April 4 Proposed Initiative 65 would lower Colorado’s individual and corporate income tax rates to 4.2% beginning in tax year 2027 and protect Department of Education and Health Care Policy and Finance funding from reductions in the first full fiscal year after implementation.
Proponents presented Proposed Initiative 65 in the same session as Initiative 64. Initiative 65 would reduce Colorado’s individual and corporate income tax rates from 4.4% to 4.2% beginning with the 2027 tax year, and expressly provide that any revenue reduction in the first full fiscal year following the tax-rate change shall not reduce funding for the…
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