Page 6 - voter guide 2018

The issues

Voters will be asked to decide 13 separate measures on the November ballot. CBA has prioritized those issues that could have a
direct effect on the banking industry in Colorado.

Those listed in red are opposed by CBA's board of directors; those listed in green are supported and CBA is neutral on those listed
in orange. Those measures without effect on banking are listed in black.
CBA has focused on the damage done to small business by Amendment 73 in particular and is actively opposing. Additionally, CBA
is one of five partners in the REMI project, which studies real economic impact of policy changes. Linked below are studies related
to two proposals.

View the 2018 Colorado Blue Book
Measures referred to the ballot by the Colorado State Legislature

• Amendment V: Lower age requirement for members of the State Legislature
• Amendment W: Election ballot format for judicial retention elections

• Amendment X: Industrial Hemp definition
• Amendment Y: Congressional redistricting

• Amendment Z: Legislative redistricting
• Amendment A: Prohibit slavery and involuntary servitude in all circumstances

Citizen initiated amendments to the Colorado Constitution

• Amendment 73: Funding for public schools (View the opposition campaign) (View the REMI study)
Increases income taxes $1.6B annually, changing CO from a single rate system to four brackets for individuals (including joint filings), trusts
and estates ($150K-$200K income: current (4.63%) + additional .37% tax (+8% increase in rate), $200K-$300K income: current + 1.37% tax
(+30%), $300K-$500K income: current + 2.37% tax (+51%), income >$500K: current + 3.62%) (+78%), and changing C-corp tax to current +
1.37% tax (+30%). Pass-through entities such as S-corps would pay taxpayer’s rate. There are no performance standards or limits on how
funds can be spent (administrative vs. classroom.)
• Amendment 74: Compensation for reduction in fair market value by government law or regulation (Takings)
Just compensation for reduction in FMV caused by government law or regulation. This is promoted by the oil and gas industry and agricul-
ture and focuses primarily on restricted access to mineral rights.
• Amendment 75: Campaign Contributions

Citizen initiated amendments to Colorado statute
• Proposition 109: Authorize bonds for highway projects
Bond $3.5B for construction (repayment cap at $5.2B) with no tax increase forcing a cut in other state
expenditures to pay off bonds. This measure requires proceeds to be used exclusively for road/bridge expansion, construction,
maintenance and repair throughout Colorado.

• Proposition 110: Authorize sales tax and bonds for transportation projects
A .62% sales tax increase provides $6B in 20-year bonds (state repayment cap at $9.4B) and raises a total of $22B. 45% of revenue goes to
state transportation, 40% to municipal and county projects, 15% for multimodal; authorizes additional transportation project debt based
on current law: $50M/yr general fund appropriations.

• Proposition 111: Limitations on payday loans
Limits payday lenders to 36% APR. CBA has been vocal that the banking industry would not fill the gap left by the exit of payday lenders.
• Proposition 112: Increased setback requirement for oil and natural gas development— (View the REMI study)
For oil and gas development, impose a 2,500 ft setback from any structure for human occupancy and other designated areas (schools,
parks, playgrounds, sports fields, irrigation canals, lakes, reservoirs, rivers, intermittent streams, open space, and other areas designated
by state or local government as “vulnerable”) and authorizes state/local governments to increase the setback. Opponents say it would
put 85% of the state off limits to new oil and natural gas development.