Two major business groups pulled their support from a bill to reform Colorado's enterprise-zone program Wednesday when its sponsor lowered the annual caps on investment tax credits, but Democrats on the House Finance Committee still passed House Bill 1142 on a party-line vote.
Yesterday, during a hearing of the House Health and Environment Committee, Rep. Janak Joshi, R-Colorado Springs, ended his attempt to repeal the hospital provider fee that became law in 2009. Upon his request, the bill died by a unanimous vote.
In spite of what oil and gas companies are saying, a ‘yes’ vote on Amendment 58 won’t mean higher prices at the gas pump. According to a report issued by the Bell Policy Center, an economic research organization in Denver, gas prices are not directly determined by severance tax rates. Amendment 58 seeks to eliminate a tax benefit historically handed to the oil and gas industries in Colorado in order to recoup $300 million per year for schools, transportation and natural resource projects.