HB 24-1142 CO

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Became Law

For income tax years commencing before January 1, 2025, the law allowed any individual who was 65 years of age or older at the close of a taxable year to subtract the total amount of social security benefits that the individual received from the individual's federal taxable income, to the extent those benefits were included in federal taxable income, when determining the individual's state taxable income. The act expands this subtraction to any individual who is 55 years of age or older but less than 65 years of age and whose adjusted gross income for the applicable tax year is less than or equal to $75,000 if filing individually or $95,000 if filing jointly. The act requires the department of revenue, in consultation with the state auditor, to collect information necessary to measure the effectiveness of the income tax subtraction. APPROVED by Governor June 6, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)

• Richard Holtorf · primary
• Junie Joseph Democratic · primary
• Faith Winter · primary
• Byron Pelton Republican · primary

1. Jun 6, 2024 Governor Signed · executive
2. May 21, 2024 Sent to the Governor · executive
3. May 21, 2024 Signed by the President of the Senate · upper
4. May 21, 2024 Signed by the Speaker of the House · lower
5. May 8, 2024 Senate Third Reading Passed - No Amendments · upper
6. May 7, 2024 Senate Second Reading Special Order - Passed - No Amendments · upper
7. May 7, 2024 Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole · upper
8. May 4, 2024 Senate Committee on Finance Refer Unamended to Appropriations · upper
9. May 3, 2024 Introduced In Senate - Assigned to Finance · upper
10. May 3, 2024 House Third Reading Passed - No Amendments · lower
11. May 2, 2024 House Second Reading Special Order - Passed with Amendments - Committee · lower
12. Apr 30, 2024 House Second Reading Laid Over Daily - No Amendments · lower
13. Apr 26, 2024 House Committee on Appropriations Refer Unamended to House Committee of the Whole · lower
14. Mar 18, 2024 House Committee on Finance Refer Amended to Appropriations · lower
15. Jan 29, 2024 Introduced In House - Assigned to Finance · lower