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CO HB1129
Bill
Status
Introduced
1/30/2023
Primary Sponsor
Brandi Bradley
Click for details
AI Summary
- Creates a state income tax credit of $1,500 per lifebuoy apparatus purchased and installed in residential subdivisions with bodies of water, effective for tax years beginning January 1, 2023
- Limits credit to one claim per lifebuoy apparatus; defines eligible purchasers as developers who construct subdivisions with bodies of water and install lifebuoy devices
- Specifies that lifebuoy apparatus must be a life-saving flotation device affixed to a wooden pole at least 6 inches wide, 6 inches long, and 8 feet tall, mounted in at least 2 cubic feet of concrete within 5 feet of the shoreline
- Allows unused credits to be carried forward for up to 5 years if they exceed income tax liability in the year claimed; credits are nonrefundable
- Establishes the "Dyllan Whittenburg Act" with a repeal date of December 31, 2036, and requires eligible purchasers to certify each apparatus installation to the Department of Revenue
Legislative Description
Tax Credit Lifebuoy Apparatus
Last Action
House Committee on Appropriations Lay Over Unamended - Amendment(s) Failed
5/11/2023
Committee Referrals
Appropriations2/16/2023
Finance1/30/2023
Full Bill Text
No bill text available