CO HB1084

Extends the income tax deduction for military retirement benefits from January 1, 2024 to January 1, 2029 for qualified individuals.

Maintains the $15,000 annual deduction limit for income tax years commencing on or after January 1, 2022 through January 1, 2029.

Requires the General Assembly and State Auditor to measure the tax expenditure's effectiveness by determining whether military retirees are benefitting and by how much.

Establishes a tax preference performance statement declaring the purpose is to provide tax relief to military retirees.

Takes effect 12:01 a.m. on the day following the 90-day period after final adjournment, or if a referendum petition is filed, only upon voter approval at the November 2024 general election.