Tax Expenditure Adjustment

The document header was updated from 'REREVISED' to 'REVISED' to accurately reflect the legislative stage, indicating amendments were adopted on second reading rather than after final passage.

The Senate sponsorship list was reformatted to add a line break after the first senator's name, improving readability without changing the list of sponsors.

The reading status label was changed from '3rd Reading Unamended' to 'Revised', aligning the document title with the actual legislative status.

Added Senate sponsors (Amabile, Jodeh, Kipp) to the Senate sponsorship section.

Added additional House sponsors (Bacon, Boesenecker, Brown, Camacho, Lindsay, Mabrey, Rutinel, Sirota, Story, Titone) to the House sponsorship section.

Updated header from 'PREAMENDED' to 'REREVISED' to indicate this version includes all adopted amendments.

Changed committee assignments to reflect current status (Finance and Appropriations committees for both House and Senate).

Removed the 5% tax credit increase for commercial historic structure rehabilitation in disaster areas, aligning it with residential structure treatment.

Limited the business personal property tax credit to income tax years commencing before January 1, 2026.

Limited the enterprise zone tax credit to a maximum of $2 million for income tax years beginning January 1, 2026, with an exemption process.

Added sales tax liability for interstate telephone and telegraph services, effective July 1, 2025.

Requires insurance companies to report total annual premium amounts from entities exempt from taxation when submitting filings with the division of insurance.

Extended the child care tax credit availability through income tax years commencing before January 1, 2030.

Ended grants for real property tax assistance and heat or fuel expenses assistance beginning January 1, 2026.

Modified the downloaded software sales tax exemption so that software available for repeated sale and license under nonnegotiable agreements is subject to sales tax.

Removed the 5% increase in tax credit percentage for rehabilitation expenses incurred in disaster areas for commercial structures.

Adjusted the calculation method for historic preservation tax credits by eliminating the disaster area bonus for commercial properties while keeping it for residential properties.

Removed a 5% bonus for rehabilitation expenses incurred in disaster areas for commercial historic structures, aligning the treatment with residential structures.

Repealed a sales tax exemption for interstate telephone and telegraph services, making all telephone and telegraph services subject to sales tax.

Eliminated a business personal property tax income tax credit that was rarely claimed and considered duplicative of federal business expense deductions.

Added legislative declarations explaining that these tax changes cause only de minimis revenue gains and do not require voter approval under TABOR.

Added five new co-sponsors (Bacon, Boesenecker, Brown, Camacho, Lindsay, Mabrey, Rutinel, Sirota, Story, Titone) to the House sponsorship list.

Updated the legislative summary header from 'ENGROSSED' to 'REENGROSSED' and added the date April 28, 2025.

Removed the note indicating the summary does not reflect subsequent amendments.

Updated the legislative declaration to cite House Bill 24-1314 as the source of modifications to historic structure preservation tax credits instead of the original intent language.

Deleted language referencing a 5% increase in tax credit percentages for rehabilitation expenses incurred in disaster areas for commercial structures, which was not part of the referenced prior legislation.

Changed the bill status header from 'Introduced' to 'Engrossed' and updated the bill number formatting to reflect the final version with all amendments adopted on second reading in the House.