HB 21-1002

  • Colorado House Bill
  • 2021 Regular Session
  • Introduced in House Jan 14, 2021
  • Passed House Jan 14, 2021
  • Passed Senate Jan 15, 2021
  • Signed by Governor Jan 21, 2021

Reductions Certain Taxpayers' Income Tax Liability

Abstract

Sections 1 and 3 of the bill restore, over time, certain business deductions to federal taxable income that were disallowed in Colorado by operation of a department of revenue rule and by House Bill 20-1420. The specific deductions are related to net operating losses, the application of the federal excess business loss rules, interest expenses, and qualified improvement property. The earned income tax credit is equal to a percentage of the federal earned income tax credit. Section 2 allows taxpayers filing with an individual taxpayer identification number to claim the earned income tax credit for income tax years commencing on or after January 1, 2020.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Bill Sponsors (4)

Votes


Jan 14, 2021

Jan 15, 2021

Actions


Jan 21, 2021

Office of the Governor

Governor Signed

Jan 15, 2021

Office of the Governor

Sent to the Governor

Senate

Signed by the President of the Senate

House

Signed by the Speaker of the House

Senate

Senate Third Reading Passed - No Amendments

Jan 14, 2021

Senate

Senate Second Reading Special Order - Passed - No Amendments

Senate

Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole

  • Committee-Passage
  • Referral-Committee
Senate Committee of the Whole Appropriations

Senate

Senate Committee on Finance Refer Unamended to Appropriations

  • Referral-Committee
Appropriations Finance

Senate

Senate Committee on Finance Refer Unamended to Appropriations

  • Referral-Committee
Appropriations Finance

Senate

Introduced In Senate - Assigned to Finance

  • Introduction
Finance

House

House Third Reading Passed - No Amendments

Jan 13, 2021

House

House Second Reading Special Order - Passed with Amendments - Committee

House

House Committee on Appropriations Refer Amended to House Committee of the Whole

  • Committee-Passage
  • Referral-Committee
House Committee of the Whole Appropriations

House

House Committee on Finance Refer Amended to Appropriations

  • Referral-Committee
Appropriations Finance

House

Introduced In House - Assigned to Finance

  • Introduction
Finance

Bill Text

Bill Text Versions Format
Signed Act (01/21/2021) PDF
Final Act (01/15/2021) PDF
Rerevised (01/15/2021) PDF
Revised (01/14/2021) PDF
Reengrossed (01/14/2021) PDF
Engrossed (01/13/2021) PDF
Introduced (01/13/2021) PDF
PA1 (01/13/2021) PDF
Committee Amendment PDF

Related Documents

Document Format
Fiscal Note SA1 (01/13/2021) PDF
Fiscal Note FN1 (01/13/2021) PDF
Fiscal Note FN2 (01/14/2021) PDF

Sources

Data on Open States is updated nightly from the official website of the Colorado General Assembly.

If you notice any inconsistencies with these official sources, feel free to file an issue.