Colorado legislation could mean up to $617 million in tax and fee increases, think tank says – The Grand Junction Daily Sentinel

(The Center Square) Bills passed during Colorados 2021 legislative session could result in up to a $617 million a year increase in taxes and fees depending on revenue estimates, according to a think tank analysis.

The libertarian-leaning Independence Institute noted that the increases come without voter consent under the states Taxpayers Bill of Rights (TABOR), which requires voter approval for all tax increases.

Ben Murrey, the think tanks fiscal policy director, calculated that the taxes and fees result in a $430 average increase in expenses each year for a four-person family in the state.

While not all the bills have been signed into law yet, the General Assemblypassed 83 bills that will increase the states revenue before concludingits session last week, according to the analysis, with 45 of the bills including revenue projections.

Total new revenue raised under these bills, if signed into law, would amount to between $579 million and $617.3 million in FY2022-23, Murrey wrote.

Murrey said lawmakers evaded TABOR with legislation raising the states revenue. Republican lawmakers and conservative taxpayer watchdogs have long argued that Democrats have avoided TABOR requirements by hiking fees.

Colorado lawmakers avoided the Taxpayers Bill of Rights (TABOR) and Proposition 117s voter-approval requirements primarily by increasing revenue through tax policy changes and through government fees, he said.

Murrey noted a pair of passed bills that overhaul the states tax code by limiting some deductions. The bills will increase state revenue by $184.5 million after tax credits.

The fees passed during the session that will raise the most revenue for fiscal 2022-23, according to the analysis, is Senate Bill 21-260,the massive piece oflegislation seeking to increase transportation funding with a bevy of new fees.

The legislation, which hasnt been signed into law yet, will raise an estimated $3.8 billion over the next decade from fees on road use, electric vehicle registrations, retail deliveries and ride-shares, among others.

Democratic lawmakers passed the legislation rather than asking voters to raise the states 22 cent gas tax, Murrey noted in a separate column.

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Colorado legislation could mean up to $617 million in tax and fee increases, think tank says - The Grand Junction Daily Sentinel