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CO HB1198

Bill

Official Source

Status

Engrossed

1/22/2010

Primary Sponsor

Mark Ferrandino

Click for details

Origin

House of Representatives

2010 Regular Session

AI Summary

  • Suspends the state income tax credit for 12% of the federal alternative minimum tax credit for taxable years beginning January 1, 2010 and later
  • Limits the alternative minimum tax provisions under Colorado Revised Statutes § 39-22-105 to apply only for taxable years beginning January 1, 2000 through December 31, 2009
  • Eliminates the credit against state income tax that was previously allowed for individuals, estates, and trusts under federal Internal Revenue Code Section 53
  • Includes a safety clause declaring the act necessary for immediate preservation of public peace, health, and safety

Legislative Description

Susp Credit Alternative Minimum Tax

Last Action

House Committee on Finance Postpone Indefinitely

1/29/2010

Committee Referrals

Finance1/22/2010

Full Bill Text

No bill text available