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HB 23-1063 CO
Introduced

Reduction Of State Income Tax Rate

CO · session 2023A · Assembly / House · bill

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Introduced Jan 19, 2023

Latest action (Feb 9, 2023) Introduced In House - Assigned to State, Civic, Military, & Veterans Affairs

Summary

For income tax years commencing on and after January 1, 2024, the bill reduces both the individual and the corporate state income tax rates from 4.40% to 3.5%. The bill also exempts the rate reductions from the existing statutory requirements that tax expenditure legislation include a tax preference performance statement in a statutory legislative declaration and a repeal after a specified period of tax years. (Note: This summary applies to this bill as introduced.)

Sponsor (1)

Action history (2)
  1. Feb 9, 2023 House Committee on State, Civic, Military, & Veterans Affairs Postpone Indefinitely · lower
  2. Jan 19, 2023 Introduced In House - Assigned to State, Civic, Military, & Veterans Affairs · lower

Full text

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