SB 25-302: Achieving a Better Life Experience Tax Deduction - Colorado

Rerevised (05/05/2025) → Revised (05/03/2025) · 3 edits

MINOR

The bill text was updated from a Rerevised version to a Revised version, indicating that amendments adopted during second reading in the second house were incorporated. The list of House sponsors was shortened, removing several names while keeping the original sponsors Garcia and Zokaie, likely reflecting changes in sponsorship status or a formatting update.

TECHNICAL

The header status changed from Rerevised to Revised, reflecting the incorporation of amendments adopted during second reading in the second house.

The House sponsor list was reduced from 13 names to just two names (Garcia and Zokaie), likely indicating a change in co-sponsorship or a formatting correction.

The reading status note was removed, as the bill is now marked as Revised rather than 3rd Reading Unamended.

Final Act (05/12/2025) → Rerevised (05/05/2025) · 3 edits

MINOR

This bill extends the Colorado Achieving a Better Life Experience (ABLE) state income tax deduction from expiring December 31, 2025, to December 31, 2030. The revision updates the effective dates throughout the statute to align with the new expiration timeline, ensuring individuals with disabilities can continue to receive tax benefits for contributions to their ABLE savings accounts.

Scope change

The bill's scope remains focused on extending the ABLE tax deduction, but the applicability period has been lengthened by five years.

TIMELINE

The expiration date for the ABLE tax deduction was changed from January 1, 2031 to January 1, 2035, extending the benefit period by five years.

The repeal effective dates for related subsections were updated from January 1, 2030 to January 1, 2035 to match the new expiration timeline.

TECHNICAL

Added formal legislative session headers, reading dates, and committee information that were missing from the original version, indicating this is a revised version of the bill.

Engrossed (04/29/2025) → Reengrossed (04/30/2025) · 3 edits · Apr 30, 2025

MINOR

The bill was reengrossed to include additional sponsors (Amabile, Cutter, Gonzales J., Jodeh, Marchman, Wallace) and updated the legislative status from Engrossed to Reengrossed. The bill summary note was also modified to indicate that a new summary for the reengrossed version will be available on April 30, 2025, after third reading in the House of Introduction.

TECHNICAL

Added five new sponsors to the Senate sponsorship list: Amabile, Cutter, Gonzales J., Jodeh, and Marchman.

Updated the bill status header from 'ENGROSSED' to 'REENGROSSED' to reflect the new version of the bill.

Modified the bill summary note to clarify that a new summary for the reengrossed version will be available on April 30, 2025, after third reading in the House of Introduction.

Introduced (04/21/2025) → Engrossed (04/29/2025) · 3 edits · Apr 30, 2025

MINOR

This bill extends the Colorado Achieving a Better Life Experience (ABLE) state income tax deduction from expiring on December 31, 2025, to December 31, 2030. The primary change is the extension of the tax benefit deadline, allowing individuals with disabilities and their families to continue contributing to ABLE accounts with state tax deductions through 2030.

Scope change

The bill's scope remains focused on the ABLE tax deduction, but the applicability period has been extended by five years.

TIMELINE

Extended the ABLE state income tax deduction expiration date from December 31, 2025, to December 31, 2030, providing additional time for tax benefits.

Updated the date for when certain ABLE program provisions apply from January 1, 2026, to January 1, 2031, aligning with the extended expiration date.

Changed the repeal effective date for a specific subsection from January 1, 2030, to January 1, 2035, maintaining consistency with the extended program timeline.

Achieving a Better Life Experience Tax Deduction

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