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Pueblo briefed on Colorado special session, Prop 123 funding risk
Summary
City consultants and councilors discussed a state special session driven by a roughly $728 million shortfall and how proposed changes to tax credits, reserves and spending could affect Pueblo’s access to affordable housing funds under Proposition 123 and other state grants.
City officials on Aug. 25 were briefed on a Colorado special legislative session called to close an estimated $728 million shortfall and on risks that state changes could make Pueblo temporarily ineligible for certain affordable-housing funds.
The briefing, delivered by consultants from Capital Success Group, described a three-part approach the legislature is exploring: eliminating or reducing several business-related tax credits, drawing down the state reserve and identifying spending cuts. Ryan, a representative of Capital Success Group, said the legislature “worked through the weekend” and that consultants “thought they might be able to finish by tonight, but there's still a couple of lingering issues.”
The panel told councilors the state is considering eliminating a pass‑through business deduction, ending an insurance company regional…
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