Getting your player ready...
DENVER-
The House gave initial approval Tuesday to a plan that would increase the exemption of the business personal property tax from $2,500 to $7,000.
The measure (House Bill 1325) would be phased in three steps by 2011. After 2013, the exemption would increase according to the Consumer Price Index. The measure would affect approximately 30 percent, or an estimated 30,400 small businesses in Colorado.
The bill faces a third reading in the House before it goes to the Senate.
