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Legislative Year: 2022 Change
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Bill Detail: HB22-1418

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Title Extension Of Certain Unused Tax Credits
Status Senate Third Reading Passed - No Amendments (05/11/2022)
Bill Subjects
  • Fiscal Policy & Taxes
  • State Revenue & Budget
House Sponsors L. Herod (D)
J. McCluskie (D)
Senate Sponsors R. Zenzinger (D)
C. Hansen (D)
House Committee Finance
Senate Committee Finance
Date Introduced 05/05/2022
Summary

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 $15 million per year.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (05/10/2022) (most recent)  
Additional Bill Documents Bill Documents
Including:
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  • Past fiscal notes
  • Committee activity and documents
  • Bill History
 
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