HB 22-1007 Summary

• Establishes a Wildfire Mitigation Resources and Best Practices Grant Program administered by the Colorado Forest Service to fund outreach to landowners about wildfire mitigation resources and best practices in high wildfire hazard areas.

• Creates a tax credit for individual landowners with federal taxable income at or below $120,000 (adjusted annually for inflation) equal to 25% of up to $2,500 in wildfire mitigation costs, with a maximum credit of $625 per year for tax years 2023-2025.

• Extends the existing wildfire mitigation deduction from 50% of costs (capped at $2,500) through January 1, 2026, and creates the new tax credit as an alternative mechanism for lower-income landowners.

• Defines eligible wildfire mitigation measures as defensible space creation, fuel breaks, vegetation thinning, and woody fuel treatment activities that meet Colorado State Forest Service standards.

• Sunsets both the grant program and tax credit provisions effective January 1, 2029 and 2030 respectively, requiring legislative reauthorization to continue.