Bill phasing out Colorado business tax gutted
DENVER, Colorado ” A proposal to phase out a Colorado business tax is dead for now.
The bill appeared headed for defeat in the Senate Appropriations Committee on Tuesday, so the sponsor, Republican Sen. Mark Scheffel of Parker, asked the committee to rewrite it.
The bill now calls for a study of how to phase out the tax. Studies are a popular way to keep controversial issues alive at the Capitol.
Business owners have long complained about the business personal property tax, which applies to equipment, furnishings and other property.
But many school districts depend on the tax.
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If the tax were eliminated in one year, the state would have to come up with $350 million.
Senate Bill 85 originally would have phased out the tax over 40 years starting in 2011.