HB 23B-1006 Summary

• Creates an 11-member tax code legislative task force to study restructuring Colorado's tax system with a goal of eliminating all state and local taxes and fees except sales and use tax.

• Task force must convene by June 3, 2024, meet at least quarterly, and submit findings and recommendations to the legislature within one year of its first meeting.

• Members include the Department of Revenue director, county assessor, state legislators, economist, certified public accountant, tax lawyer, homeowner, chamber of commerce representative, and representatives from organizations supporting and opposing constitutional tax limitations.

• Task force must compile all state and local revenue sources, calculate required sales and use tax rates to maintain current revenue levels, and determine how to make the sales tax apply only to first sales, exclude production inputs, and offer progressive or flat tax options.

• The task force is repealed effective June 30, 2026.