Rob Woodward
- Republican
Primary
The "SALT Parity Act" was enacted in 2021 and, for income tax years commencing on or after January 1, 2022, it allowed pass-through entities to elect to pay state income tax at the entity level, which allows the entity to claim an unlimited deduction at the federal level for state and local taxes paid. While this election reduces federal taxable income for the pass-through entity, it does not reduce or increase Colorado taxable income under current law based on additions and subtractions (deductions) to the state income tax. The act converts the state income tax deductions created to keep state revenue neutrality into a tax credit and makes provisions of the "SALT Parity Act" retroactive to January 1, 2018. An S corporation or a partnership must make the retroactive election on or after September 1, 2023, but before July 1, 2024, in a composite amended tax return for all of the years for which the election is made that is filed on behalf of the S corporation or partnership and the electing pass-through entity owners. (Note: This summary applies to this bill as enacted.)
Governor Signed
Sent to the Governor
Signed by the Speaker of the House
Signed by the President of the Senate
Senate Considered House Amendments - Result was to Concur - Repass
House Third Reading Passed with Amendments - Floor
House Third Reading Laid Over Daily - 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 Business Affairs & Labor Refer Amended to Appropriations
Introduced In House - Assigned to Business Affairs & Labor
Senate Third Reading Passed - No Amendments
Senate Second Reading Special Order - Passed with Amendments - Committee, Floor
Senate Committee on Appropriations Refer Amended - Consent Calendar to Senate Committee of the Whole
Senate Committee on Finance Refer Amended to Appropriations
| Bill Text Versions | Format |
|---|---|
| Signed Act (05/16/2022) | |
| Final Act (05/11/2022) | |
| Rerevised (05/10/2022) | |
| Revised (05/05/2022) | |
| Reengrossed (04/27/2022) | |
| Engrossed (04/26/2022) | |
| Introduced (02/03/2022) | |
| PA4 (05/05/2022) | |
| PA3 (05/04/2022) | |
| PA2 (04/26/2022) | |
| PA1 (02/24/2022) | |
| Committee Amendment |
| Document | Format |
|---|---|
| Fiscal Note SA1 (04/25/2022) | |
| Fiscal Note SA2 (05/05/2022) | |
| Fiscal Note FN1 (02/18/2022) | |
| Fiscal Note FN2 (05/03/2022) | |
| Fiscal Note FN3 (05/05/2022) | |
| Fiscal Note FN4 (08/23/2022) |
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.