Bill
HB 24-1053
Overview: HB 24-1053, Tax Policy Analysis by the Legislative Branch, was signed into law by the Governor on January 10, 2024.Purpose and Intent: The bill requires the state's nonpa
Overview: HB 24-1053, Tax Policy Analysis by the Legislative Branch, was signed into law by the Governor on January 10, 2024.
Purpose and Intent: The bill requires the state's nonpartisan legislative research office to conduct comprehensive analyses of the fiscal and economic impacts of any proposed changes to state tax policy. This is intended to provide lawmakers and the public with objective, data-driven assessments to inform the policymaking process.
Key Provisions:
- Mandates the legislative research office to analyze the revenue, distributional, and economic effects of all tax-related bills
- Requires the analyses to be completed and made publicly available prior to legislative consideration of the bills
- Specifies the methodologies and data sources to be used in the analyses
Affected Parties and Impacts: The bill affects all state legislators and the general public by ensuring that tax policy decisions are made with the benefit of thorough, nonpartisan fiscal and economic impact assessments. It also impacts the legislative research office, which will be responsible for conducting the required analyses.
Procedural and Timeline Considerations: The bill has been signed into law and will take effect immediately, applying to all tax-related legislation moving forward.
Compiled from official sources — confirm details with the bill’s official record.
Sign in to ask a question.
