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Legislative Year: 2021 Change

Bill Detail: HB21-1002

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Title Reductions Certain Taxpayers' Income Tax Liability
Status Governor Signed (01/21/2021)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors M. Weissman (D)
E. Sirota (D)
Senate Sponsors D. Moreno (D)
C. Hansen (D)
House Committee Finance
Senate Committee Finance
Date Introduced 01/13/2021

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.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (03/11/2021) (most recent)  
Additional Bill Documents Bill Documents
  • Past bill versions
  • Past fiscal notes
  • Committee activity and documents
  • Bill History
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