In this Capitol Report:
Colorado Chamber Tax Council Hosts Officials from Department of Revenue & Outlines 2020 Legislation
Ryan Woods of Xcel Energy, Chair of the Chamber’s Tax Policy Council, opened up the Council’s first meeting ahead of the 2020 Legislative Session this week. The Council heard from officials from the Colorado Department of Revenue (DOR) and discussed anticipated tax legislation that could impact the Colorado business community.
Guest speakers from DOR included: Executive Director Lu Cordova, Legislative Liaison Jean Robinson, Acting Senior Director of the Taxation Division Brendan Reese, and Director of Tax Policy Analysis Josh Pens. Cordova discussed her vision and long-term goals for DOR, while agency staff discussed upcoming rulemaking and regulatory issues.
The Tax Council also discussed several bills that are expected to be filed in the upcoming legislative session, including:
- Bills addressing the use of the state’s GIS system.
- A bill extending the Sales and Use Simplification Task Force for five years.
- A bill requiring all new tax expenditure bills to include a legislative declaration with a tax performance statement that identifies if it’s intending one of the following: to induce certain designated behavior by the taxpayer, to create or retain jobs, to reduce structural inefficiencies in the tax structure, or to provide tax relief for certain businesses or individuals.
- A bill repealing the tax exemption for long-term lodging while maintaining the sales tax exemption for local governments unless they explicitly subject long-term lodging to their sales and use tax.
- A bill that would change the current Net Operating Loss Deduction to allow taxpayers to claim the deduction for just 20 years, as opposed to the unlimited number of years allowed by the federal government.
- A bill creating a Legislative Oversight Committee on Tax Policy and a Task Force on Tax Policy.
- A bill requiring the use of a meter to quantify energy or fuel use for manufacturing or industrial purposes in order to claim a sales tax exemption.
The 2020 Legislative Session convenes on January 8, 2020. The next Tax Policy Council meeting will be held on January 17, 2020
Be at the Center of the Colorado Chamber’s Most Important Work – Sponsor a Policy Council Meeting!
Sponsoring a Policy Council meeting puts you front and center with key legislators, government officials, and Colorado Chamber members.
The following Councils are available to all our members:
- Energy and Environment Council
- HealthCare Council
- Labor and Employment Council
- Governmental Affairs Council
- Tax Council
Each Council will meet at noon at the Colorado Chamber of Commerce office throughout the session. Lunch is served at each meeting. Sponsorship of council meetings by our members is crucial to maintaining the practice of providing lunch during these important council meetings. We need sponsors for every meeting, so we would like to encourage members to sign up now to sponsor a lunch! Sponsors receive recognition in both email reminders for the meeting and our online Events Calendar, as well as during the meeting. The Colorado Chamber of Commerce does all of the ordering and setup of the lunch and the sponsorship is always a flat rate of $650. Please contact Laura Moss for more details or to sign up as a sponsor. We appreciate your ongoing support!
Please see the below for specific dates for each council. Councils always meet from Noon to 1:15 p.m. in our conference room at 1600 Broadway, Suite 1000.
2019-2020 Council Meeting Dates
Energy & Environment Council:
January 29, 2020
February 25, 2020
March 24, 2020
April 29, 2020
Governmental Affairs Council:
January 28, 2020
February 11, 2020
March 31, 2020
April 27, 2020
HealthCare Council:
December 17, 2019
January 16, 2020
February 13, 2020
March 12, 2020
April 16, 2020
Labor & Employment Council:
November 20, 2019
January 22, 2020
February 19, 2020
March 18, 2020
April 22, 2020
Tax Council:
January 17, 2020
February 7, 2020
March 6, 2020
April 17, 2020