This year Colorado Concern has taken a position on seven of the eleven issues voters will face on the statewide ballot. These issues impact the business community and the economic wellbeing of the state.
|Ballot||Summary||Position||Why We Have Taken a Position|
|Proposition 118: Paid Family and Medical Leave Insurance Program||Establishes a program for paid medical and family leave.||Colorado Concern believes this is the most pressing issue for business on the 2020 ballot. This $1.3 billion dollar, state-run program, which offers the most expansive benefits in the nation, will be paid for by a .9% payroll tax that is split between the employer and the employee. This is an effective increase in the corporate income tax of 204%. In the wake of the COVID-19 shutdowns and resulting mass unemployment, now is not the time for a tax increase for business or for workers. Furthermore, this state-run program will add a new department that our state simply cannot afford. According to an independent analysis from the Common Sense Institute, this program will face insolvency within its first two years, thereby compromising Colorado’s ability to fund other priorities including education and transportation. When the program becomes insolvent, the tax rate can be unilaterally raised by the department administrator to 1.2%.|
|Amendment B: Gallagher Amendment Repeal and Property Tax Assessment Rates||Repeals the Gallagher Amendment of 1982, which limited the residential and non-residential property tax assessment rates so that residential property taxes amounted to 45% of the total share of state property taxes and non-residential property taxes amounted to 55% of the total share of state property taxes.||The Gallagher Amendment was referred to Colorado voters by the legislature in 1982 in response to voters’ concerns about rising residential property taxes as a result of the state’s rapid population growth in the 1970’s. At that time, residential property in Colorado made up 45% of total property value in the state, with other classes of property such as commercial property, agriculture land, vacant land, industrial property and public utilities making up the other 55%. The Gallagher Amendment froze that ratio of the total value of residential property (45%) to the total value of non-residential property (55%).
Since 1982, growth in residential property values has outpaced the growth of the value of all other non-residential property in the state. Residential property now makes up 80% of the total assessed value of all property statewide. Gallagher requires that residential property constitute 45% of total statewide valuation, the assessment rate has been reduced on residential property from 21% in 1982 to 7.15% in 2020. Whereas in 1982, business owners paid $1.40 for every $1.00 that homeowners paid, in 2020, they pay $4.00 in property tax for every $1.00 that homeowners pay on the same value of property.
Colorado Concern is actively fundraising for the repeal of Gallagher campaign, please let us know if you would like to get involved.
|Proposition 113: National Popular Vote Interstate Compact Referendum||Joins Colorado into the National Popular Vote Interstate Compact, awarding Colorado’s electoral votes to the winner of the national popular vote.||We believe Colorado’s nine electoral votes should remain with the candidate who wins the most votes in Colorado.|
|Proposition EE: Tobacco and E-Cigarette Tax Increase for Health and Education Programs Measure||Incrementally increases taxes on cigarette and tobacco products and creates a new tax on nicotine products such as e-cigarettes; dedicates funds to education and health programs.||Currently nicotine products such as e-cigarettes are not taxed, this measure creates a tax on these products that matches other tobacco products. Revenue generated would support education, housing development, tobacco education programs, and the state general fund.|
|Proposition 116: Decrease Income Tax Rate from 4.63% to 4.55%||Decreases the state income tax rate from 4.63% to 4.55%.||A .08% tax cut for all Coloradans, regardless of income, would be a welcome relief to Coloradans hurting economically and it could stimulate much needed spending benefiting business.|
|Proposition 117: Voter Approval Requirement for Creation of Certain Fee-Based Enterprises||Require voter approval of new enterprises that are exempt from TABOR if their revenue is greater than $50 million within its first five years.||It is anticipated that new enterprise funds will be proposed to fund programs that Colorado Concern has historically opposed including the public option and a climate tax. Passing prop 117 could prevent those efforts before they begin.|
|Amendment 77: Allow Voters in Central City, Black Hawk, and Cripple Creek to Expand Game Types and Single Bets||Allows voters in Central City, Black Hawk, and Cripple Creek to vote to expand allowed gaming types and bet limits.||Colorado Concern supports local control and personal choice when it comes to gaming. Furthermore, the gaming tax has been a critical revenue generator for the general fund, community college, historic preservation, and state tourism.|
|Denver Ballot – 2E: City Council Confirmation Requirement for Certain Mayoral Appointments Charter Amendment||Amends the city charter to require the city council to confirm through a majority vote any mayoral appointments to the following offices:
||This initiative politicizes key appointments and could make it more challenging to recruit qualified candidates.|
|Denver Ballot – 2G: City Council Authority to Propose Supplemental Budget Changes or Appropriations Charter Amendment||Amends the city charter to grant city council authority to propose supplemental budget changes or appropriations.||Denver is the only major US city with a AAA bond rating from all three agencies. These ratings offer an impressively positive indicator to the people of Denver about the way City finances have been managed overall. Enabling the City Council to introduce pet projects to the budget throughout the year will create chaos for our city and could jeopardize our AAA rating along with our capacity to address basic services.|
Colorado Concern invites you to join us in enhancing and protecting the business climate of our great state. Through a unified voice, business leaders can create change. Stay tuned for updates, and in the meantime, here’s how you can help support our policy agenda.