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<br />TAX REDUCTIONS <br /> <br />Ballot Title: An amendment to the Colorado Constitution establishing a $25 tax cut to lower each <br />200 I state and local tax in each tax bill for each utility customer and occupation tax and franchise <br />charge, vehicle sales, use, and ownership tax, income tax, property tax, income and property tax equal <br />to yearly revenue from sales and use taxes on food and drink other than tobacco and alcohol, and <br />income tax equal to yearly revenue from estate taxes, and, in connection therewith, increasing the taX <br />cut $25 yearly; specifYing that the tax cuts and state replacement oflocal revenue shall not lower state <br />or local excess revenue; allowing the state to limit local acts increasing replacement costs; and <br />providing that attorney fees and costs shall always be paid to successful plaintiffs only. <br /> <br />Text of Proposed Constitutional Amendment: <br /> <br />Be it Enacted by the People of the State of Colorado: <br /> <br />Article X, section 20, The Taxpayer's Bill of Rights, is amended to add: <br /> <br />(8)(d) Tax cuts. A $25 tax cut, increased $25 yearly (to $50, $75...), shall lower each tax <br />in each tax bill for each 200 I and later district: utility customer and occupation tax and franchise <br />charge; vehicle sales, use, and ownership tax; yearly income tax; property tax; income and property <br />tax equal to yearly revenue from sales and use taxes on food and drink other than tobacco and <br />alcohol; and income tax equal to yearly revenue from estate taxes. (8)( d) tax cuts and state <br />replacement of local revenue shall not lower state or local excess revenue, the state may limit local <br />acts increasing replacement costs, joint income tax returns equal two tax bills, and attorney fees and <br />costs to enforce (8)( d) shall alwavs be paid to successful plaintiffs only. <br /> <br />e <br /> <br />e <br /> <br />e <br />