State auditor report - federal tax law and changes that impact the state tax base

(1) Annually, the state auditor shall study and evaluate impacts to the state's policy of using federal taxable income as the basis for Colorado taxable income. The evaluation must include a review of federal tax law, including changes, that may have a significant impact on the state's tax base or otherwise impact taxable income within the state.

(2) Notwithstanding sections 2-3-103 (2) and 24-1-136 (9), the state auditor shall present the findings made pursuant to subsection (1) of this section in the form of a report that must be posted on the general assembly's website and delivered to the joint budget committee and the finance committees of the senate and the house of representatives. The state auditor shall ensure that the first report is delivered no later than June 30, 2025, and shall ensure that subsequent reports are delivered no later than June 30 of each year thereafter.

(3) (a) Any records, information, or documentation generated pursuant to this section are work papers of the state auditor and shall be open to public inspection only upon approval of a majority of members of the legislative audit committee created in section 2-3-101. Only the specific work papers that the legislative audit committee votes to approve for disclosure shall be open to public inspection. Work papers that have not been specifically approved for disclosure by a majority vote of the legislative audit committee shall remain confidential. Under no circumstances shall the work papers be open to public inspection prior to a completed report being posted as specified in subsection (2) of this section.