This bill proposes an amendment to voters that slightly reduces property taxes in exchange for a provision allowing the state to retain revenue it would otherwise have to reimburse to the taxpayers through the TABOR. CPAC recognizes that this minor tax reduction does not ultimately offset the loss of the TABOR reimbursements, opposes measures that effectively increase costs for taxpayers, and opposed this bill. The House passed this bill on May 8, 2023 by a vote of 45-17 and the bill later became law.