2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › GENERAL AND ADMINISTRATIVE (§§ 39-20-101 — 39-21-405) › Article 21 - Procedure and Administration (§§ 39-21-101 — 39-21-405) › Part 4 - LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY (§§ 39-21-401 — 39-21-405) › Section 39-21-403 - Legislative oversight committee concerning tax policy - creation - duties - report

(1)
Creation.
(a)
There is hereby created a legislative oversight committee concerning tax policy.
(b)
The committee consists of six members as follows:
(I)
Two senators appointed by the president of the senate and one senator appointed by the minority leader of the senate; and
(II)
Two representatives appointed by the speaker of the house and one representative appointed by the minority leader of the house of representatives.
(c)
(I)
Appointees to the committee must have experience with or interest in the study areas of the committee and task force, as set forth in section
39-21-404
.
(II)
Appointments must be made no later than fourteen days after July 7, 2021.
(d)
The terms of the members expire or terminate on the convening date of the first regular session of the seventy-fourth general assembly. As soon as practicable after such convening date, but no later than the end of the legislative session, the speaker and minority leader of the house of representatives and the president and minority leader of the senate shall each appoint or reappoint members in the same manner as provided in subsection (1)(b) of this section. Thereafter, the terms of members appointed or reappointed expire on the convening date of the first regular session of each general assembly, and all subsequent appointments and reappointments must be made as soon as practicable after such convening date, but no later than the end of the legislative session.
(e)
The person making the original appointment or reappointment shall fill any vacancy by appointment for the remainder of an unexpired term. Members appointed or reappointed serve at the pleasure of the appointing authority and continue until the member's successor is appointed.
(f)
The speaker of the house of representatives shall select the first chair of the committee, and the president of the senate shall select the first vice-chair. The chair and vice-chair shall alternate annually thereafter between the two houses.
(g)
The chair and vice-chair of the committee may establish such organizational and procedural rules as are necessary for the operation of the committee and, in collaboration with the task force, guidelines and expectations for ongoing collaboration with the task force.
(h)
(I)
Members of the committee are entitled to receive compensation and reimbursement of expenses as provided in section
2-2-326
.
(II)
The director of research of the legislative council, the director of the office of legislative legal services, and the state auditor shall supply staff assistance to the committee as they deem appropriate, within existing appropriations.
(2)
Duties.
(a)
(I)
The committee shall meet at least four times each year and at such other times as it deems necessary.
(II)
Each committee member shall annually either attend or call in to at least one regular task force meeting. Committee members are encouraged to attend separate meetings and inform the rest of the committee about the current work of the task force.
(b)
The committee shall annually define in writing, no later than the second meeting of the year, the scope of tax policy to be considered for the committee and the task force.
(c)
(I)
(A)
The committee shall consider the policy considerations contained in the tax expenditure evaluations prepared by the state auditor pursuant to section
39-21-305
and the information contained in the reports prepared by the state auditor pursuant to section 39-21-306 concerning a review of federal tax law, including changes, that may have a significant impact on the state's tax base.
(B)
Notwithstanding the state auditor's schedule established pursuant to section 39-21-305 (1)(d), the committee may, in writing, direct the state auditor to evaluate up to three additional specific tax expenditures to be included in the state auditor's evaluation reports due for the following year pursuant to section 39-21-305 (1)(e).
(C)
The committee may, in writing, request that the state auditor prepare up to two reports annually on specific and discrete topics related to existing tax policy. Not later than thirty days after receipt of the request, the state auditor shall prepare for the committee chair a written proposed scope of work concerning the request. Upon approval of the proposed scope of the work by the committee chair, the state auditor shall proceed with the research and analysis required to complete the requested report.
(II)
The committee is responsible for the oversight of the task force.
(d)
The committee may recommend legislative changes that are treated as bills recommended by an interim legislative committee for purposes of any introduction deadlines or bill limitations imposed by the joint rules of the general assembly.
(e)
On or before January 1 of each year, the committee shall submit, and make publicly available on its website, a report to the general assembly. The annual report must briefly summarize the study issues, recommendations considered, and any actions taken by the committee and the task force during the previous year. The report must comply with the provisions of section
24-1-136 (9)
. Notwithstanding section
24-1-136 (11)(a)(I)
, the requirement in this section to report to the general assembly continues indefinitely.
Amended by 2024 Ch. 375,§ 3, eff. 6/4/2024, app. to tax expenditure evaluation reports of the state auditor on or after 6/4/2024.
Added by 2021 Ch. 468, § 1, eff. 7/7/2021.
L. 2021: Entire part added, (HB 21-1077), ch. 3366, p. 3366, § 1, effective July 7.