No to Proposition 120 and Amendment 78
When I first read Proposition 120 I thought, “How wonderful to give a break to low-income people needing housing!”
The proposal would cut property taxes on “multifamily” and “lodging” properties. The proponents argue that passage of the proposition “may ease pressure on rents and encourage investment” to “address our housing shortage.” Notice the “may.” Nowhere does the proposal say the reduction in taxes will give renters any rent reduction. Nowhere does it mention encouragement to landlords to do anything other than pocket what they save.
And “lodging”? That includes “hotels, motels and bed and breakfasts.” My new take is that it is simply another tax cut for those least in need. Vote no.
And Amendment 78? The amendment would affect “custodial money” the state gets (money from outside the state budget, such as many federal grants, legal settlements, emergency relief funds, gifts to the state, etc.). It would take away from the governor and our administrative agencies the ability to decide how best to spend those moneys. It would instead require that all such funds be allocated exclusively by the legislature. So much for utilizing the expertise of our administrative agency managers as to the best way to spend such money. And so much for the governor’s ability to manage needs as they arise. And it adds new staff that will cost at least $1 million.
It is being proposed by two Colorado legislators. Both are best described as conservative. One asserts the amendment will provide transparency and end a “slush fund.” Opponents say the amendment would take a “sledgehammer” to our government with “unintended consequences,” and that it is an attempt to “disrupt government.” (A footnote: the same two legislators also proposed Proposition 120.) My take: Vote “No.”
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Richard Compton’s life will be celebrated in an informal gathering on Oct. 23 from 1-3 p.m. at the Pine Creek Cookhouse. All are welcome.