HB 24-1036: Adjustment of Certain Tax Expenditures

• Repeals 13 unused or infrequently used tax expenditures identified by the state auditor, including catastrophic health insurance deductions, medical savings account deductions, and various tax credits for childcare, school-to-career programs, and low-emitting vehicles

• Eliminates tax expenditures by December 31, 2028 or later (depending on the provision), with most provisions applying only to tax years beginning before January 1, 2025

• Reduces administrative burden and complexity at the Department of Revenue while generating minimal budget impact, as these tax expenditures bring little value to the state

• Extends certain credits (health-care preceptors, wildfire hazard mitigation, manufactured homes exemption) with modified terms and updated effective repeal dates

• Takes effect 90 days after legislative adjournment, subject to voter approval if a referendum petition is filed by November 2024