HB 25-1335: Tax Credit Availability - Colorado

Rerevised (05/05/2025) → Revised (05/02/2025) · 3 edits

MINOR

The bill text was updated from a 'Rerevised' version to a 'Revised' version, indicating that amendments adopted during the second reading in the Senate have been incorporated. The Senate sponsorship list was reduced by removing two sponsors (Kipp and one other), likely reflecting changes in legislative support or procedural status. The document header was updated to reflect the current revision status rather than a final rerevision.

TECHNICAL

Header text changed from 'REREVISED' to 'REVISED' with updated language indicating amendments were adopted on second reading rather than in the second house.

Removed '3rd Reading Unamended' date stamp and the date May 5, 2025 from the Senate section.

Senate sponsorship list was shortened by removing two sponsors (Kipp and one additional name), reducing the number of listed sponsors from four to two.

PA1 (05/01/2025) → Rerevised (05/05/2025) · 4 edits

MODERATE

The bill was re-revised to incorporate all amendments adopted by both the House and Senate, updating sponsor lists and adding reading status information. The substantive content regarding tax credit definitions was removed from this version, indicating the bill is in a transitional state between House and Senate versions.

Scope change

The bill's scope remains unchanged regarding tax credit policy, but the version now reflects complete legislative consensus with both chambers' amendments included.

TECHNICAL

Updated bill status from 'PREAMENDED' to 'REREVISED' to indicate all amendments have been adopted by both legislative chambers.

Added new co-sponsors Joseph and McCluskie to House sponsorship list, and Kipp to Senate sponsorship list.

Removed House Bill 24-1134 references and specific revenue forecast definitions from Section 2, indicating these provisions were moved or modified in subsequent amendments.

Added reading status headers indicating 3rd Reading Unamended in Senate and 2nd Reading Unamended in House with specific dates.

Final Act (05/13/2025) → PA1 (05/01/2025) · 3 edits

MINOR

This bill modifies how Colorado's family affordability tax credit and earned income tax credit are calculated by changing the revenue forecast used to determine their availability. Instead of using actual 2024-25 state revenue, the bill requires using the March 2024 revenue forecast to ensure the credits remain available without limiting the legislature's ability to appropriate funds from the general fund.

Scope change

The bill's scope remains the same (affecting two existing tax credits), but the criteria for determining credit availability has changed from actual revenue to forecasted revenue.

DEFINITION

Changed the definition of 'BV' (base value) in both tax credit statutes to reference the March 2024 Office of State Planning and Budgeting revenue forecast instead of actual state revenue for fiscal year 2024-25.

FISCAL

Added legislative declaration stating that using the March 2024 forecast would not limit the general assembly's ability to appropriate money from the general fund, addressing concerns about revenue sufficiency.

REQUIREMENT

Modified the calculation method for both tax credits to use forecasted revenue rather than actual revenue when determining the compound annual growth rate that affects credit availability.

Engrossed (05/01/2025) → Reengrossed (05/02/2025) · 2 edits · May 5, 2025

MINOR

The bill was reengrossed to include additional co-sponsors (Joseph and McCluskie) in the House, and a new notice was added stating that the current summary does not reflect amendments and that an updated summary will be available after the House passes the bill. These are procedural updates rather than substantive policy changes.

TECHNICAL

Added two new co-sponsors (Joseph and McCluskie) to the House sponsorship list.

Added a notice indicating the bill summary is unamended and will be updated after third reading in the House of Introduction.

Introduced (04/29/2025) → Engrossed (05/01/2025) · 3 edits · May 5, 2025

MINOR

The bill was amended to clarify that the House Bill number is 25-1335 in the text, and to add a header indicating this version includes all amendments adopted on second reading in the House of Introduction. The substantive policy content regarding tax credit calculations remains unchanged.

TECHNICAL

Updated the bill number reference from 'House Bill 25-___' to 'House Bill 25-1335' in the explanatory text.

Added header text indicating this version includes all amendments adopted on second reading in the House of Introduction, dated May 1, 2025.

Removed introductory text indicating the bill was 'Introduced' and replaced with 'Engrossed' status.

Tax Credit Availability

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