Senate Concurrent Resolution 25b-001
Page 1, Line 101Submitting to the registered electors of the state of
Page 1, Line 102Colorado an amendment to the Colorado constitution
Page 1, Line 103concerning the creation of new law that requires the
Page 1, Line 104state to obtain voter approval in advance for any
Page 1, Line 105addition to the definition of federal taxable income
Page 1, Line 106for purposes of determining a taxpayer's state taxable
Page 1, Line 107income, regardless of whether the state would gain
Page 1, Line 108revenue, or the extent to which the state would gain
Page 1, Line 109revenue, due to the addition to the definition of
Page 1, Line 110federal taxable income.
Resolution Summary
(Note: This summary applies to this resolution as introduced and does not reflect any amendments that may be subsequently adopted. If this resolution passes third reading in the house of introduction, a resolution summary that applies to the reengrossed version of this resolution will be available at http://leg.colorado.gov/.)
The concurrent resolution refers to the voters of the state at the 2026 general election a constitutional amendment to require voter approval in advance for any addition to the definition of federal taxable income for purposes of determining a taxpayer's state taxable income, regardless of whether the state would gain revenue, or the extent to which the state would gain revenue, due to the addition to the definition of federal taxable income.
Page 2, Line 1Be It Resolved by the Senate of the Seventy-fifth General Assembly of the State of Colorado, the House of Representatives concurring herein:
Page 2, Line 2SECTION 1. At the election held on November 3, 2026, the
Page 2, Line 3secretary of state shall submit to the registered electors of the state the
Page 2, Line 4ballot title set forth in section 2 for the following amendment to the state constitution:
Page 2, Line 5In the constitution of the state of Colorado, section 20 of article X, amend (1); and add (4.5) as follows:
Page 2, Line 6Section 20. The Taxpayer's Bill of Rights.(1) General
Page 2, Line 7provisions. This section takes effect December 31, 1992 or as stated. Its
Page 2, Line 8preferred interpretation shall reasonably restrain most the growth of
Page 2, Line 9government. All provisions are self-executing and severable and
Page 2, Line 10supersede conflicting state constitutional, state statutory, charter, or other
Page 2, Line 11state or local provisions. Other limits on district revenue, spending, and
Page 2, Line 12debt may be weakened only by future voter approval. Individual or class
Page 2, Line 13action enforcement suits may be filed and shall have the highest civil
Page 2, Line 14priority of resolution. Successful plaintiffs are allowed costs and
Page 2, Line 15reasonable attorney fees, but a district is not unless a suit against it be
Page 2, Line 16ruled frivolous. Revenue collected, kept, or spent illegally since four full
Page 3, Line 1fiscal years before a suit is filed shall be refunded with 10% annual
Page 3, Line 2simple interest from the initial conduct. Subject to judicial review,
Page 3, Line 3districts may use any reasonable method for refunds under this section,
Page 3, Line 4including temporary tax credits or rate reductions. Refunds need not be
Page 3, Line 5proportional when prior payments are impractical to identify or return.
Page 3, Line 6When annual district revenue is less than annual payments on general
Page 3, Line 7obligation bonds, pensions, and final court judgments,
(4)(a) and (7)Page 3, Line 8subsections (4)(a), (4.5), and (7) of this section shall be suspended to provide for the deficiency.
Page 3, Line 9(4.5) Required elections for additions to the definition of
Page 3, Line 10federal taxable income.Starting January 1, 2027, unless
Page 3, Line 11subsection (6) of this section applies, the state must have voter
Page 3, Line 12approval in advance for any addition to the definition of
Page 3, Line 13federal taxable income for purposes of determining a taxpayer's
Page 3, Line 14state taxable income, regardless of whether the state would
Page 3, Line 15gain revenue, or the extent to which the state would gain
Page 3, Line 16revenue, due to the addition to the definition of federal taxable income.
Page 3, Line 17SECTION 2. Each elector voting at the election may cast a vote
Page 3, Line 18either "Yes/For" or "No/Against" on the following ballot title: "Shall
Page 3, Line 19there be an amendment to the Colorado constitution concerning the
Page 3, Line 20creation of new law that requires the state to obtain voter approval in
Page 3, Line 21advance for any addition to the definition of federal taxable income for
Page 3, Line 22purposes of determining a taxpayer's state taxable income, regardless of
Page 3, Line 23whether the state would gain revenue, or the extent to which the state
Page 3, Line 24would gain revenue, due to the addition to the definition of federal
Page 3, Line 25taxable income?"
Page 4, Line 1SECTION 3. Except as otherwise provided in section 1-40-123,
Page 4, Line 2Colorado Revised Statutes, if at least fifty-five percent of the electors
Page 4, Line 3voting on the ballot title vote "Yes/For", then the amendment will become part of the state constitution.