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Legislative Year: 2022 Change
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Bill Detail: HB22-1025

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Title Repeal Of Infrequently Used Tax Expenditures
Status Governor Signed (05/02/2022)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors A. Benavidez (D)
Senate Sponsors C. Kolker (D)
House Committee Finance
Senate Committee Finance
Date Introduced 01/12/2022
Summary

Legislative Oversight Committee Concerning Tax Policy. The
bill repeals the following tax expenditures:
  • The exemption from the insurance premium tax for
educational and scientific institution life insurance (section
1
of the bill);
  • The alternative minimum income tax based on annual gross

receipts from sales in or into the state (sections 2 and 4);
  • The income tax credit for investment in technologies for
recycling plastics (section 3);
  • The income tax credit for crop or livestock contributions to
a charitable organization (section 4);
  • The income tax deduction for income or gain for a C
corporation that was taxed prior to 1965, to the extent it is
included in current taxable income (section 5);
  • Income tax credits for qualifying investments (sections 6
and 7
);
  • The sales and use tax exemption for the transfer of
complimentary promotional materials to an out-of-state
vendee (section 8);
  • The requirement that a portion of a state-employed
chaplain's salary is designated as a rental allowance
(section 9); and
  • The excise tax exemption for sacramental wines sold and
used for religious purposes (section 12). This section also
specifies that a religious organization that distributes
sacramental wines for religious purposes is not subject to
licensing and other regulatory requirements.
Sections 10 and 11 make conforming amendments.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (02/11/2022) (most recent)  
Additional Bill Documents Bill Documents
Including:
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