Today is May 7, 2024, and here’s what you need to know:

Polis, lawmakers, others strike deal expected to reduce property taxes by $1.3 billion in first year

With three days left in the 2024 session and under the threat of at least one ballot measure, Gov. Jared Polis, lawmakers, nonprofits and business leaders announced a deal on property tax legislation that would reduce the assessment rates for commercial property and valuations for homeowners.

In its first year, the deal is expected to cut taxes by $1.3 billion, which proponents described as the largest property tax reduction in 20 years.

The announcement signaled a massive win for the Polis administration, given the bipartisan sponsorship from some of the best minds in the legislature on property taxes, notably Republican lawmakers who have served as a county commissioner or assessor before joining the legislature.

Colorado lawmakers debate transit, library resources in waning days of session

With just two days to go and several dozen bills awaiting decisions, lawmakers kicked off the first day of the final week of the 2023-2024 legislative session with a busy agenda.

While many bills passed with minimal discussion, several sparked debates, including an omnibus bill sponsors say would help increase transit use and ultimately help the state meet its climate goals.

The bill, Senate Bill 032, consists of four sections. The first section creates the “statewide transit pass exploratory committee,” tasked with creating a proposal for the creation, implementation, and administration of a statewide transit pass by 2026, aiming for implementation by 2028. Passholders would qualify for an income tax credit covering 30% of their pass expenses for the year.

Retiring Republican Doug Lamborn endorses Jeff Crank as his replacement in Colorado's 5th CD

Republican U.S. Rep. Doug Lamborn on Monday formally endorsed Republican Jeff Crank as his successor.

Calling the political operative and former talk radio host “a man of integrity, conviction and solid family values,” Lamborn said he’s throwing his “total endorsement and full support” behind Crank, one of two Republicans running for the El Paso County-based congressional seat Lamborn has held for nine terms.

Lamborn, who announced in January that he wouldn’t seek reelection in the heavily Republican 5th Congressional District, said he decided to make the endorsement after watching the GOP primary unfold between Crank and Colorado GOP Chairman Dave Williams.

Colorado justices say DU can face trial for failing to provide fair campus sex assault investigation

The University of Denver will face a civil trial for breach of contract after it promised a “thorough, impartial and fair” inquiry into campus sexual misconduct, but allegedly violated several of its own procedures when investigating an accused student, the Colorado Supreme Court ruled on Monday.

The Supreme Court is now the third federal or state appellate body to side with “John Doe,” a DU student expelled after the school concluded he sexually assaulted a female student. Doe chiefly argued that DU ignored his witnesses, failed to explore his accuser’s motives for reporting him and made its decision using cherry-picked portions of the victim’s medical records following the alleged assault.

By 6-1, the Supreme Court agreed Doe could proceed to trial with his breach of contract claim based on DU’s alleged deviation from its promised procedure.

Attempt to ban 'assault weapons' in Colorado fails for second consecutive year

The proposal to ban the purchase of a long list of so-called “assault weapons” has failed for the second consecutive year.

House Bill 1292 was expected to be heard this week in the Senate State, Veterans, and Military Affairs Committee, but its sponsor, Sen. Julie Gonzales, D-Denver, announced on Monday that she would ask the panel to end it.

“I intend to request that the Senate State Veterans and Military Affairs committee postpone indefinitely HB24-1292, the assault weapons ban, on May 7, 2024,” Gonzales said in a statement. “That being said, I couldn’t be prouder of my colleagues in the House of Representatives for passing an assault weapons ban for the first time in Colorado history.”