CO SB127

Repeals section 39-22-601(10) of the Colorado Revised Statutes, which required the Department of Revenue to include a historical explanation of income tax rate modifications on every income tax return form.

Eliminates the requirement to publish statements explaining that prior to January 1, 1999, income tax rates were 5 percent for individuals, estates, and trusts, and 5 percent for corporations.

Removes the obligation to explain subsequent rate reductions to 4.75 percent (effective January 1, 1999) and 4.63 percent (effective January 1, 2000).

Takes effect 90 days after final adjournment of the general assembly (August 8, 2018, if adjournment occurs May 9, 2018), subject to referendum petition.

Governor John W. Hickenlooper approved the bill on June 6, 2018.