Colorado voters will decide on an initiative to create a new State Affordable Housing Fund in November. Proponents submitted 230,748 signatures for the measure on August 4, 2022. On August 19, the Colorado secretary of state’s office announced that the initiative qualified for the ballot. Through random sample verification, 149,072 were projected to be valid. To qualify for the ballot, 124,631 valid signatures were required.
The initiative, sponsored by Coloradans for Affordable Housing Now, would dedicate one-tenth of one percent (0.01%) of state income tax revenue to the State Affordable Housing Fund.
Colorado has a flat income tax rate of 4.55% of federal taxable income. An initiative also on the November 2022 ballot would decrease the rate to 4.40% beginning January 1, 2022.
