Measure to Lower Taxes on Job Creators Receives Approval from House

Bill Would Help Small Businesses and Encourage Employment in the State


DENVER—This morning the Colorado House of Representatives leant its support to a measure that will help Colorado’s job creators.

House Bill 1263, sponsored by State Rep. Kevin Priola, doubles the small business personal property tax exemption currently allowed from $7,000 to $14,000.  HB 1263 also exempts a portion of the property of a state-assessed public utility from the tax through the creation of a valuation cap.

“Colorado’s small businesses are key to getting our economy back on track,” said Priola, R-Henderson. “By providing relief from the business personal property tax, small businesses and primary employers will have more money to buy additional equipment or even hire additional workers.”

House Bill 1263 passed with bipartisan support today.   The measure now moves to the Senate where it is sponsored by State Sen. Mark Scheffel, R-Parker.    

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