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CO SB175
Bill
AI Summary
- Creates a state income tax credit of $0.03 per gallon for retail dealers selling E-15 gasoline (ethanol-blended fuel with 15-50% ethanol by volume) in Colorado
- Credit is available for tax years commencing January 1, 2017 through December 31, 2019 (3 tax years total)
- Excess credits that exceed a taxpayer's income tax liability cannot be carried forward and must be refunded to the taxpayer
- Allows individuals to claim credits allocated from partnerships, limited liability companies, S corporations, estates, or trusts based on their pro rata share of earnings
- Section expires and is repealed effective July 1, 2021; bill takes effect 90 days after final adjournment of the general assembly unless subject to a referendum petition
Legislative Description
E-15 Gasoline Income Tax Credit For Retail Dealers
Last Action
Senate Committee on Finance Postpone Indefinitely
4/14/2016
Committee Referrals
Finance3/28/2016
Full Bill Text
No bill text available