HB 24-1065 CO
Reduction of State Income Tax Rate
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Summary
For income tax years commencing on and after January 1, 2025, the bill reduces both the individual and the corporate state income tax rates from 4.40% to 4.0%. 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 repeal after a specified period of tax years. (Note: This summary applies to this bill as introduced.)
Sponsors (3)
- Scott Bottoms Republican · primary
- Rose Pugliese · primary
- Barbara Kirkmeyer Republican · primary
Action history (2)
- Feb 12, 2024 House Committee on Finance Postpone Indefinitely · lower
- Jan 10, 2024 Introduced In House - Assigned to Finance · lower
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