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2025-2026
The title as designated and fixed by the Board is as follows:
State taxes shall be increased $3.25 billion annually, in order to increase or improve levels of public services, by an amendment to the Colorado Constitution and a change to the Colorado Revised Statutes modifying and repealing existing law and creating new law to impose a graduated state income tax on individuals, estates, trusts, and corporations starting January 1, 2027, and, in connection therewith, amending the Taxpayer’s Bill of Rights to eliminate the constitutional requirement for all income to be taxed at one rate, establishing various income tax rates based on the amount of taxable income earned by the taxpayer, and authorizing the state to retain and spend any resulting increase in revenue, which will result in the estimated change in income taxes owed by individuals as identified in the following table:
Initiative 147
Change in Income Taxes Owed by Income Category
| Income Categories | Current Average Income Tax Owed |
Proposed Average Income Tax Owed |
Proposed Change in Average Income Tax Owed if Passed + or - |
|---|---|---|---|
| $25,000 or less | $74 | $71 | -$3 |
| $25,001 - $50,000 | $818 | $781 | -$37 |
| $50,001 - $100,000 | $1,998 | $1,907 | -$91 |
| $100,001 - $200,000 | $4,296 | $4,118 | -$178 |
| $200,001 - $500,000 | $9,481 | $9,281 | -$200 |
| $500,001 - $1,000,000 | $20,462 | $20,803 | +$341 |
| $1,000,001 - $2,000,000 | $32,157 | $39,274 | +$7,117 |
| $2,000,001 - $5,000,000 | $46,166 | $66,968 | +$20,802 |
| Income categories reflect adjusted gross income reported to the Internal Revenue Service. | |||
The ballot title and submission clause as designated and fixed by the Board is as follows:
Shall state taxes be increased $3.25 billion annually, in order to increase or improve levels of public services, by an amendment to the Colorado Constitution and a change to the Colorado Revised Statutes modifying and repealing existing law and creating new law to impose a graduated state income tax on individuals, estates, trusts, and corporations starting January 1, 2027, and, in connection therewith, amending the Taxpayer’s Bill of Rights to eliminate the constitutional requirement for all income to be taxed at one rate, establishing various income tax rates based on the amount of taxable income earned by the taxpayer, and authorizing the state to retain and spend any resulting increase in revenue, which will result in the estimated change in income taxes owed by individuals as identified in the following table?
Initiative 147
Change in Income Taxes Owed by Income Category
| Income Categories | Current Average Income Tax Owed |
Proposed Average Income Tax Owed |
Proposed Change in Average Income Tax Owed if Passed + or - |
|---|---|---|---|
| $25,000 or less | $74 | $71 | -$3 |
| $25,001 - $50,000 | $818 | $781 | -$37 |
| $50,001 - $100,000 | $1,998 | $1,907 | -$91 |
| $100,001 - $200,000 | $4,296 | $4,118 | -$178 |
| $200,001 - $500,000 | $9,481 | $9,281 | -$200 |
| $500,001 - $1,000,000 | $20,462 | $20,803 | +$341 |
| $1,000,001 - $2,000,000 | $32,157 | $39,274 | +$7,117 |
| $2,000,001 - $5,000,000 | $46,166 | $66,968 | +$20,802 |
| Income categories reflect adjusted gross income reported to the Internal Revenue Service. | |||
Hearing October 1, 2025
Single subject approved; staff draft amended; titles set (3-0).
The Board determined that the proposed initiative only repeals language in the Colorado Constitution, thus the requirement for approval by fifty-five percent of the votes cast does not apply to this initiative.
Board members: Kathleen Wallace, Christy Chase, Kurt Morrison
Hearing adjourned 10:19 AM
* Unofficially captioned "Graduated Income Tax" by legislative staff for tracking purposes. This caption is not part of the titles set by the Board.