HB 22-1418

  • Colorado House Bill
  • 2022 Regular Session
  • Introduced in House May 10, 2022
  • Passed House May 10, 2022
  • Passed Senate May 11, 2022
  • Signed by Governor Jun 07, 2022

Extension Of Certain Unused Tax Credits

Abstract

Joint Budget Committee. The bill allows a taxpayer who operates in a strategic industry disproportionately impacted by the COVID-19 pandemic and who experienced significant financial hardship due to the COVID-19 pandemic to apply to the economic development commission (commission) for a 5-year extension of the allowable carry-forward period for unused Colorado job growth incentive tax credits and unused enterprise zone tax credits that would otherwise expire between January 1, 2021, and December 31, 2025; except that the tax credit for contributions to enterprise zone administrators to implement economic development plans is not eligible for the 5-year carry-forward extension. The bill requires the commission, in consultation with the office of economic development, to establish a process for accepting, reviewing, and approving one-time applications by taxpayers for the extended carry-forward period subject to taxpayers meeting certain eligibility requirements. The bill caps the total amount of tax credits allowed to be carried forward in the extended period at zero dollars for the first 2 years in the 5-year period, $10 million for the third year in the 5-year period and, $15 million per year for the fourth and fifth years . (Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.) (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Bill Sponsors (4)

Votes


May 11, 2022

May 10, 2022

Actions


Jun 07, 2022

Office of the Governor

Governor Signed

May 25, 2022

Office of the Governor

Sent to the Governor

Senate

Signed by the President of the Senate

May 23, 2022

House

Signed by the Speaker of the House

May 11, 2022

Senate

Senate Third Reading Passed - No Amendments

May 10, 2022

Senate

Senate Second Reading Special Order - Passed - No Amendments

Senate

Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole

  • Committee-Passage
Appropriations

Senate

Senate Committee on Finance Refer Unamended to Appropriations

  • Referral-Committee
Finance Appropriations

Senate

Introduced In Senate - Assigned to Finance

  • Introduction
Finance

House

House Third Reading Passed - No Amendments

May 09, 2022

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

May 06, 2022

House

House Committee on Finance Refer Amended to Appropriations

  • Referral-Committee
Appropriations Finance

May 05, 2022

House

Introduced In House - Assigned to Finance

  • Introduction
Finance

Bill Text

Bill Text Versions Format
Signed Act (06/07/2022) PDF
Final Act (05/25/2022) PDF
Rerevised (05/11/2022) PDF
Revised (05/10/2022) PDF
Reengrossed (05/10/2022) PDF
Engrossed (05/09/2022) PDF
Introduced (05/05/2022) PDF
PA1 (05/09/2022) PDF
PA2 (05/09/2022) PDF
Committee Amendment PDF

Related Documents

Document Format
Fiscal Note SA1 (05/09/2022) PDF
Fiscal Note FN1 (05/06/2022) PDF
Fiscal Note FN2 (05/10/2022) PDF

Sources

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