Leslie Herod
- Democratic
- Representative
- District 8
Primary
The act 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 act 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 on a first come, first served, rolling basis subject to taxpayers meeting certain eligibility requirements, which, in the commission's discretion, may include additional economic development commitments to the state. The act caps the total amount of tax credits allowed to be carried forward in the extended period at zero dollars for the first 2 years in the 5-year period, $10 million for the third year, and $15 million per year for the fourth and fifth years. $18,412 is appropriated from the general fund for the 2022-23 state fiscal year to the office of the governor for use by economic development programs. (Note: This summary applies to this bill as enacted.)
Governor Signed
Sent to the Governor
Signed by the President of the Senate
Signed by the Speaker of the House
Senate Third Reading Passed - No Amendments
Senate Second Reading Special Order - Passed - No Amendments
Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole
Senate Committee on Finance Refer Unamended to Appropriations
House Third Reading Passed - No Amendments
House Second Reading Special Order - Passed with Amendments - Committee
House Committee on Appropriations Refer Amended to House Committee of the Whole
House Committee on Finance Refer Amended to Appropriations
| Bill Text Versions | Format |
|---|---|
| Signed Act (06/07/2022) | |
| Final Act (05/25/2022) | |
| Rerevised (05/11/2022) | |
| Revised (05/10/2022) | |
| Reengrossed (05/10/2022) | |
| Engrossed (05/09/2022) | |
| Introduced (05/05/2022) | |
| PA1 (05/09/2022) | |
| PA2 (05/09/2022) | |
| Committee Amendment |
| Document | Format |
|---|---|
| Fiscal Note SA1 (05/09/2022) | |
| Fiscal Note FN1 (05/06/2022) | |
| Fiscal Note FN2 (05/10/2022) | |
| Fiscal Note FN3 (09/01/2022) |
Data on Open States is updated periodically throughout the day from the official website of the Colorado General Assembly.
If you notice any inconsistencies with these official sources, feel free to file an issue.