HB 22-1025 CO Became Law
Repeal Of Infrequently Used Tax Expenditures
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Summary
The act repeals the following tax expenditures: The exemption from the insurance premium tax for educational and scientific institution life insurance; The alternative minimum income tax based on annual gross receipts from sales in or into the state; The income tax credit for investment in technologies for recycling plastics; The income tax credit for crop or livestock contributions to a charitable organization; The income tax deduction for income or gain for a C corporation that was taxed prior to 1965, to the extent it is included in current taxable income; Income tax credits for qualifying investments; and The sales and use tax exemption for the transfer of complimentary promotional materials to an out-of-state vendee. The act also repeals the requirement that a specific amount of a state-employed chaplain's salary must be designated as a rental allowance, thereby making it exempt from federal income tax. (Note: This summary applies to this bill as enacted.)
Sponsors (2)
- Adrienne Benavidez Democratic · primary
- Chris Kolker Democratic · primary
Action history (15)
- May 2, 2022 Governor Signed · executive
- Apr 29, 2022 Sent to the Governor · executive
- Apr 29, 2022 Signed by the President of the Senate · upper
- Apr 28, 2022 Signed by the Speaker of the House · lower
- Apr 13, 2022 Senate Third Reading Passed - No Amendments · upper
- Apr 12, 2022 Senate Second Reading Passed - No Amendments · upper
- Apr 8, 2022 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole · upper
- Mar 30, 2022 Senate Committee on Finance Refer Unamended to Appropriations · upper
- Mar 18, 2022 Introduced In Senate - Assigned to Finance · upper
- Mar 16, 2022 House Third Reading Passed - No Amendments · lower
- Mar 15, 2022 House Second Reading Passed with Amendments - Committee · lower
- Mar 14, 2022 House Second Reading Laid Over Daily - No Amendments · lower
- Mar 11, 2022 House Committee on Appropriations Refer Amended to House Committee of the Whole · lower
- Feb 7, 2022 House Committee on Finance Refer Amended to Appropriations · lower
- Jan 12, 2022 Introduced In House - Assigned to Finance · lower
Text versions (10)
The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.
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