Job-Killing Business Tax
Business Tax Relief
Education Tax Credits
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2003 Town Hall
Education Tax Credits
FOR IMMEDIATE RELEASE
SENATOR BRUCE CAIRNS
February 12, 2003 303-866-4866
Contact: Erica Mirehouse or Kelley Harp 303-866-3344
TO: Interested Media
FROM: Erica Mirehouse and Kelley Harp
WHO: Senator Bruce Cairns
WHAT: Education Committee hearing on SB 1, concerning property tax credits to support education in the state.
WHERE: Senate Committee Room 354
WHEN: 1:30 p.m. - Thursday, Feb. 13
Denver - Sen. Bruce Cairns, R-Aurora, wants property tax credits to be used to support education in Colorado. Senate Bill 1 would authorize three types of property tax credits to be used against the property tax levied by the school district in which the property is located.
The bill is scheduled for its first debate in the Senate Education Committee on Thursday.
"Tax credits are more effective at putting into place the freedoms and incentives necessary to the effective operation of the education market," Sen. Cairns said. "Participation in these credits will potentially result in a budget savings due to transfers to the private sector. The time is right when we have a budget downturn."
SB 1 would authorize three types of property tax credits:
* a credit equal to the amount of voluntary cash contributions made during the property tax year to a school tuition organization;
* a credit equal to the amount of voluntary cash contributions made during the property tax year to a school tuition organization for the benefit of any dependent child of a qualified, low-income beneficiary; and
* a credit equal to the amount of any fees paid by a taxpayer during the property tax year to a public or charter school for the support of any extracurricular activity of the school.
State Sen. Bruce Cairns represents Senate District 28 which includes South Aurora and portions of Arapahoe County. Cairns is Chairman of the Local Government Committee, Vice Chairman of the Education Committee, and serves on the State, Veterans and Military Affairs Committee and the Capitol Development Committee. His address is State Capitol, 200 East Colfax, Denver, CO 80203.