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CO HB1335
Bill
Status
Passed
6/3/2025
Primary Sponsor
Emily Sirota
Click for details
AI Summary
- Modifies the calculation method for determining availability of Colorado's family affordability tax credit and earned income tax credit beginning in tax year 2025
- Replaces actual state fiscal year 2024-25 revenue figures with the March 2024 Office of State Planning and Budgeting revenue forecast as the baseline for compound annual growth rate calculations
- Addresses concerns that using actual 2024-25 revenue could limit general fund appropriations due to lower-than-expected revenue, contrary to original legislative intent
- Applies to both tax credits created or expanded by the 2024 legislature (HB 24-1311 and HB 24-1134), which were unconditionally available only for tax year 2024
- Includes a safety clause for immediate effect upon the Governor's signature
Legislative Description
Tax Credit Availability
Fiscal Policy & Taxes
Last Action
Governor Signed
6/3/2025
Committee Referrals
Appropriations5/2/2025
Committee of the Whole5/1/2025
Appropriations4/29/2025
Full Bill Text
No bill text available