SCWCC BOARD OPPOSES BALLOT INITIATIVE PROPOSITION HH
The Southern Colorado Women’s Chamber of Commerce Board of Directors has taken an OPPOSE position on Proposition HH because of its negative impacts on business in the Southern Colorado region. This projected reduction to TABOR refunds will have a negative financial impact to Chamber members even taking into account the relatively small amount of property tax relief.
- The Immediate impact of Prop HH will allow the State to keep $170 Million of the expected 2023 TABOR tax refunds. Through 2032, Prop HH will reduce TABOR tax refunds an estimated $10 Billion.
- Prop HH would also allow TABOR tax refunds to be withheld indefinitely without voter approval.
- Prop HH will raise the state spending limit 1% every year through 2032, diverting roughly 80% of the extra revenue to programs other than property tax relief.