SB 16-203 Summary

• State Auditor must evaluate Colorado's tax expenditures to determine whether they accomplish their intended goals, including economic development, assisting beneficiaries, and promoting public health and welfare.

• Evaluation reports must include: purpose and intent of the tax expenditure, intended beneficiaries, whether goals are being met, economic costs and benefits, comparisons to similar expenditures in other states, analysis of coordination with other programs, and performance measures.

• State Auditor must develop a multi-year schedule by September 15, 2017, listing all tax expenditures and indicating when each evaluation report will be published; each tax expenditure must be reviewed at least once every five years.

• First evaluation report must be delivered and posted no later than September 14, 2018, with subsequent reports posted no later than September 15 each year thereafter to the General Assembly website and legislative committees.

• $212,149 appropriated to the office of the State Auditor for the 2016-17 fiscal year to fund the evaluation program, including 2.7 additional FTE positions.