House Committee of Reference Report
Committee on Finance
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All text that will be removed from the bill will be indicated by strikethrough as follows:
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This is text that is removed from law. -
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March 23, 2026
After consideration on the merits, the Committee recommends the following:
HB26-1289 be amended as follows, and as so amended, be referred to the Committee on Appropriations with favorable recommendation:
Page 1, Line 1Amend printed bill, page 6, strike lines 23 through 27.
Page 1, Line 2Page 7, strike lines 1 through 10.
Page 1, Line 3Renumber succeeding subsections accordingly.
Page 1, Line 4Page 12, line 20 after "(I)" insert "(A)".
Page 1, Line 5Page 12, after line 27 insert:
Page 1, Line 6"(B) For amounts invested in a qualified opportunity fund
Page 1, Line 7after December 31, 2026, other than a Colorado qualified
Page 1, Line 8opportunity fund, the amount of gain excluded from federal
Page 1, Line 9gross income as a result of an election made by the taxpayer
Page 1, Line 10pursuant to section 1400Z-2(c) of the internal revenue code.".
Page 1, Line 11Page 13, line 3, after "in" insert "Colorado".
Page 1, Line 12Page 13, line 4, strike "Qualified" and substitute "Colorado
Page 1, Line 13qualified".
Page 1, Line 14Page 14, strike lines 2 through 27.
Page 1, Line 15Strike pages 15 through 18.
Page 1, Line 16Page 19, strike lines 1 through 3.
Page 1, Line 17Renumber succeeding sections accordingly.
Page 2, Line 1Page 19, line 27, after the period add "Pursuant to a water's-edge
Page 2, Line 2election, the combined group shall take into account the net
Page 2, Line 3income and apportionment factors of the members of the
Page 2, Line 4affiliated group pursuant to subsection (11.5) of this section to
Page 2, Line 5the extent set forth in subsection (8.5)(b) of this section.".
Page 2, Line 6Page 20, line 1, strike "include" and substitute "take into account".
Page 2, Line 7Page 20, line 22, strike "included" and substitute "taken into
Page 2, Line 8account"."
Page 2, Line 9Page 20, line 24, strike "include:" and substitute "take into account:".
Page 2, Line 10Page 23, line 9, strike "notwithstanding" and substitute "without
Page 2, Line 11regard to".
Page 2, Line 12Page 24, line 12, strike "To" and substitute "For income tax years
Page 2, Line 13beginning on or after January 1, 2027, to".
Page 2, Line 14Page 24, line 26, strike "(3)(q)" and substitute "(3)(q); and add (2)(l) and
Page 2, Line 15(3)(u)".
Page 2, Line 16Page 25, after line 1 insert:
Page 2, Line 17"(2) There shall be added to federal taxable income:
Page 2, Line 18(l) (I) (A) For income tax years beginning on and after
Page 2, Line 19January 1, 2027, the excess of any gain excluded from federal
Page 2, Line 20gross income pursuant to section 1400Z-2 (a)(I)(A) of the internal
Page 2, Line 21revenue code over the amount of that gain invested by the
Page 2, Line 22taxpayer in a Colorado qualified opportunity fund in a manner
Page 2, Line 23that qualifies for exclusion from federal gross income pursuant
Page 2, Line 24to section 1400Z-2 (a)(I)(A) of the internal revenue code.
Page 2, Line 25(B) For amounts invested in a qualified opportunity fund
Page 2, Line 26after December 31, 2026, other than a Colorado qualified
Page 2, Line 27opportunity fund, the amount of gain excluded from federal
Page 2, Line 28gross income as a result of an election made by the taxpayer
Page 2, Line 29pursuant to section 1400Z-2(c) of the internal revenue code.
Page 2, Line 30(II) For purposes of this subsection (2)(l), "Colorado
Page 2, Line 31qualified opportunity fund" means a qualified opportunity fund
Page 2, Line 32that holds at least ninety percent of its assets in Colorado
Page 2, Line 33qualified opportunity zone property. Colorado qualified
Page 2, Line 34opportunity zone property is:
Page 3, Line 1(A) Qualified opportunity zone business property,
Page 3, Line 2substantially all of the use of which, during substantially all
Page 3, Line 3of the fund's holding period for the property, was in a qualified
Page 3, Line 4opportunity zone within Colorado; or
Page 3, Line 5(B) Qualified opportunity zone stock or a qualified
Page 3, Line 6opportunity zone partnership interest in a qualified opportunity
Page 3, Line 7zone business, in which substantially all of the tangible
Page 3, Line 8property owned or leased is qualified opportunity zone business
Page 3, Line 9property as described in section 1400Z-2 (d)(3)(A)(i) of the
Page 3, Line 10internal revenue code and substantially all of the use of which
Page 3, Line 11is in a qualified opportunity zone within Colorado.
Page 3, Line 12(III) For purposes of subsection (2)(l)(II) of this section:
Page 3, Line 13(A) Property held in the fund shall be measured under
Page 3, Line 14rules similar to the rules of section 1400Z-2 (d)(I) of the
Page 3, Line 15internal revenue code; and
Page 3, Line 16 (B) The terms used have the same meaning as set forth in
Page 3, Line 17section 1400Z-2 of the internal revenue code.".
Page 3, Line 18Page 25, after line 24 insert:
Page 3, Line 19"(u) For income tax years commencing on or after January
Page 3, Line 201, 2027, the amount of gain included in federal gross income
Page 3, Line 21pursuant to section 1400Z-2 (b) of the internal revenue code to
Page 3, Line 22the extent that such gain was added to federal taxable income
Page 3, Line 23pursuant to section 39-22-304 (2)(l) for a prior tax year.".
Page 3, Line 24Page 27, after line 23 insert:
Page 3, Line 25"SECTION 7. In Colorado Revised Statutes, 39-22-516.8, amend
Page 3, Line 26(8.7)(d) as follows:
Page 3, Line 2739-22-516.8. Tax credit for innovative trucks - tax preference
Page 3, Line 28performance statement - legislative declaration - definitions - repeal.
Page 3, Line 29(8.7) (d) If the June 2025 revenue forecast, and each June revenue
Page 3, Line 30forecast through the June 2027 revenue forecast as prepared by either
Page 3, Line 31legislative council staff or the office of state planning and budgeting,
Page 3, Line 32projects that state revenues, as defined in section 24-77-103.6 (6)(c), will
Page 3, Line 33not increase by at least four percent for the next fiscal year, the amount
Page 3, Line 34of the credit allowed pursuant to subsection (8.7)(a)(III), (8.7)(a)(IV), or
Page 3, Line 35(8.7)(a)(V) of this section for any the income tax year commencing in
Page 3, Line 36the calendar year that begins during said next fiscal year is reduced by
Page 3, Line 37fifty percent; except that if the amount of reduced credit is equal to or less
Page 3, Line 38than five hundred dollars, then no credit is available for such a the
Page 3, Line 39income tax year.".
Page 4, Line 1Renumber succeeding sections accordingly.
Page 4, Line 2Page 27, line 24, after "amend" insert "(2)(c),".
Page 4, Line 3Page 27, line 25, strike "(4)(c)" and substitute "(2)(a.5) and (4)(c)".
Page 4, Line 4Page 28, after line 1 insert:
Page 4, Line 5"(a.5) "Infestation mitigation measurers" means the
Page 4, Line 6thinning of woody vegetation that is at risk of mountain pine
Page 4, Line 7beetle or spruce beetle infestation or that has been killed by
Page 4, Line 8mountain pine beetles or spruce beetles, if such activities meet
Page 4, Line 9or exceed any Colorado state forest service standards or any
Page 4, Line 10other applicable state rules.
Page 4, Line 11(c) "Landowner" means any individual owner of record of
Page 4, Line 12private land located within the state, including any easement,
Page 4, Line 13right-of-way, or estate in the land, and includes the heirs, successors, and
Page 4, Line 14assigns of such land. "Landowner" shall not include any partnership, S
Page 4, Line 15corporation, or other similar entity that owns private land as an entity.
Page 4, Line 16unless there is a dwelling on that land that is designed for residential
Page 4, Line 17occupancy".
Page 4, Line 18Page 28, strike lines 9 through 15.
Page 4, Line 19Page 29, line 16, strike "measures" and substitute "measures,
Page 4, Line 20infestation mitigation measures, or both".
Page 4, Line 21Page 29, strike lines 25 through 27.
Page 4, Line 22Page 30, strike lines 1 through 8 and substitute:
Page 4, Line 23"(b) For income tax years beginning on or after January
Page 4, Line 241, 2026, if the amount of a credit allowed by this section exceeds
Page 4, Line 25the taxpayer's income taxes due, the excess may not be carried
Page 4, Line 26forward and is refunded to the taxpayer.".
Page 4, Line 27Page 30, line 12, after "(2)(e)," insert "(2)(f),".
Page 4, Line 28Page 30, line 13, strike "and (5)(c);" and substitute "(5)(c), and (6);".
Page 4, Line 29Page 30, line 25, strike "qualified producer,".
Page 4, Line 30Page 31, line 2, strike "organization that: " and substitute "nonprofit
Page 5, Line 1organization that:
Page 5, Line 2(I) Is subject to tax pursuant to this article 22 or that is
Page 5, Line 3exempt from tax pursuant to section 39-22-112 (1);".
Page 5, Line 4Renumber succeeding subparagraphs accordingly.
Page 5, Line 5Page 31, line 4, after "raw" insert "Colorado".
Page 5, Line 6Page 31, line 6, strike "agricultural products to" and substitute
Page 5, Line 7"Colorado agricultural products from".
Page 5, Line 8Page 31, line 10, after "raw" insert "Colorado".
Page 5, Line 9Page 31, strike lines 14 through 17 and substitute:
Page 5, Line 10"(f) "Small family farm" has the same meaning as set forth in
Page 5, Line 11section 35-1-117 (8)(d) for income tax years commencing before
Page 5, Line 12January 1, 2027. For income tax years commencing on or after
Page 5, Line 13January 1, 2027, "small family farm" means a farm that is
Page 5, Line 14Colorado-owned and Colorado-operated, files a schedule F with
Page 5, Line 15the internal revenue service, and acts as a wholesaler or
Page 5, Line 16vendor to a charitable food program, small food retailer,
Page 5, Line 17school, child care center, or older adult facility that is
Page 5, Line 18located in or provides food to a local, state, or federally
Page 5, Line 19defined "low income, low access neighborhood".".
Page 5, Line 20Page 31, line 22, strike "independent or nonprofit-managed," and
Page 5, Line 21substitute "independent,".
Page 5, Line 22Page 31, after line 24, insert:
Page 5, Line 23(A) Is subject to tax pursuant to this article 22 or is
Page 5, Line 24exempt from tax pursuant to section 39-22-112 (1);".
Page 5, Line 25Renumber succeeding sub-subparagraphs accordingly.
Page 5, Line 26Page 31, line 25, after "separate" insert "Colorado retail".
Page 5, Line 27Page 33, lines 5 and 6, strike "five hundred dollars" and substitute
Page 5, Line 28"three hundred seventy-five dollars".
Page 5, Line 29Page 33, lines 21 and 22, strike "qualified producer,".
Page 5, Line 30Page 34, line 6, strike "income tax" and substitute "income tax
Page 6, Line 1calendar".
Page 6, Line 2Page 34, line 7, strike "income tax" and substitute "calendar".
Page 6, Line 3Page 34, line 8, strike "income".
Page 6, Line 4Page 34, line 9, strike the first "tax" and substitute "calendar" and
Page 6, Line 5strike "income tax" and substitute "calendar".
Page 6, Line 6Page 34, strike line 11 and substitute "million dollars.".
Page 6, Line 7Page 34, strike lines 12 through 18.
Page 6, Line 8Page 35, strike lines 10 through 17 and substitute:
Page 6, Line 9"(6) To claim the income tax credit allowed pursuant to this
Page 6, Line 10section, the purchaser or member of the consortium shall attach a copy of
Page 6, Line 11the tax credit certificate to its state income tax return. No tax credit is
Page 6, Line 12allowed pursuant to this section unless the purchaser or member of the
Page 6, Line 13consortium provides a copy of the tax credit certificate with its filed state
Page 6, Line 14income tax return. The amount of the credit that the purchaser or member
Page 6, Line 15of the consortium may claim pursuant to this section is the amount stated
Page 6, Line 16on the tax credit certificate. If the purchaser is exempt from tax
Page 6, Line 17pursuant to section 39-22-112 (1), the purchaser shall file a
Page 6, Line 18return pursuant to section 39-22-601 (7)(b).".
Page 6, Line 19Page 37, strike lines 6 and 7 and substitute "(2)(e)(XI), (2)(j), and
Page 6, Line 20(6)(a)(I); and add (8)(d) as follows:".
Page 6, Line 21Page 37, strike lines 10 through 24.
Page 6, Line 22Page 38, strike lines 26 and 27.
Page 6, Line 23Strike pages 39 through 41.
Page 6, Line 24Page 42, strike lines 1 through 6 and substitute:
Page 6, Line 25"(8) Limit on aggregate amount of tax credits available to be
Page 6, Line 26reserved.
Page 6, Line 27(d) Notwithstanding the provisions of subsection (8)(a) of
Page 6, Line 28this section, for any semi-annual application period commencing
Page 6, Line 29on or after July 1, 2026, the office may adjust the limits in
Page 6, Line 30subsection (8)(a) of this section as set forth in section 39-22-522
Page 6, Line 31(4)(f).
Page 7, Line 1SECTION 12. In Colorado Revised Statutes, 39-22-552, amend
Page 7, Line 2(4)(c)(I)(B) and (4)(e); and add (4)(f) as follows:
Page 7, Line 339-22-552. Tax credit for expenditures made in connection
Page 7, Line 4with a geothermal energy project - tax preference performance
Page 7, Line 5statement - legislative declaration - definitions - repeal.
Page 7, Line 6(4) (c) (I) (B) Based upon the totality of the factors set forth in
Page 7, Line 7subsection (4)(d) of this section and based on considerations required for
Page 7, Line 8geothermal energy projects as set forth in subsection (5) of this section,
Page 7, Line 9which the office may weigh equally or differently, the office shall
Page 7, Line 10determine an applicable amount of credit that may be reserved for the
Page 7, Line 11benefit of the eligible taxpayer which may be all, part, or none of the
Page 7, Line 12credit amount requested in the eligible taxpayer's application; except that
Page 7, Line 13the office shall not reserve an amount in excess of the limitations set forth
Page 7, Line 14in subsection (3)(b) of this section, and, except as provided in
Page 7, Line 15subsection (4)(f) of this section, the aggregate amount of credits
Page 7, Line 16reserved for all owners must not exceed thirty-five million dollars for all
Page 7, Line 17taxpayers in all years the credit is allowed.
Page 7, Line 18(e) (I) The reservation of tax credits does not entitle an eligible
Page 7, Line 19taxpayer to an issuance of any credits until the eligible taxpayer provides
Page 7, Line 20the office with any documentation required by the office and a cost
Page 7, Line 21certification of the expenditure made in connection with an approved
Page 7, Line 22geothermal energy project during the tax year in which the reservation is
Page 7, Line 23approved. The cost certification must be audited by a licensed public
Page 7, Line 24accountant that is not affiliated with the eligible taxpayer. The office shall
Page 7, Line 25review the cost certification to verify that it satisfies the information
Page 7, Line 26provided in the eligible taxpayer's application. If the office determines
Page 7, Line 27that the eligible taxpayer made a qualified expenditure, the office shall
Page 7, Line 28issue a tax credit certificate in the applicable amount.
Page 7, Line 29(II) If the applicable amount of qualified expenditures
Page 7, Line 30made by the eligible taxpayer is less than the amount reserved
Page 7, Line 31pursuant to subsection (4)(c) of this section, the office may
Page 7, Line 32reserve the excess credit for the benefit of the eligible taxpayer
Page 7, Line 33for a future tax year or reserve the excess for the benefit of
Page 7, Line 34another applicant as set forth in subsection (4)(c) of this
Page 7, Line 35section; except that the office shall not reserve credits for any
Page 7, Line 36tax year beginning on or after January 1, 2033.
Page 7, Line 37 (f) (I) Beginning July 1, 2026, the office may increase the
Page 7, Line 38limit on the aggregate amount of credits reserved for all
Page 7, Line 39owners set forth in subsection (4)(c)(I)(B) of this section to the
Page 7, Line 40extent of the excess of the aggregate amount of credit
Page 7, Line 41available pursuant to section 39-22-551 (8)(b) over the amount
Page 7, Line 42of credits reserved or awarded by the office pursuant to section
Page 7, Line 4339-22-551 (6)(a) or (7)(c), respectively. The office shall decrease
Page 8, Line 1accordingly the aggregate amount of credit available pursuant
Page 8, Line 2to section 39-22-551 (8)(b).
Page 8, Line 3(II) Beginning July 1, 2026, the office may increase the
Page 8, Line 4aggregate amount of credit available pursuant to section
Page 8, Line 539-22-551 (8)(b) by any amount not reserved or allowed pursuant
Page 8, Line 6to subsection (4) of this section. The office shall decrease
Page 8, Line 7accordingly the limit on the aggregate amount of credits
Page 8, Line 8reserved for all owners set forth in subsection (4)(c)(I)(B) of
Page 8, Line 9this section.".
Page 8, Line 10Renumber succeeding sections accordingly.
Page 8, Line 11Page 45, lines 11 and 13, after "fuel" insert "for use".
Page 8, Line 12Page 45, line 17, strike "department" and substitute "office".
Page 8, Line 13Page 45, after line 20 insert:
Page 8, Line 14"(a) "Carbon intensity" means the amount of greenhouse
Page 8, Line 15gases generated per gallon of sustainable aviation fuel
Page 8, Line 16produced.".
Page 8, Line 17Reletter succeeding paragraphs accordingly.
Page 8, Line 18Page 45, line 25, after "fuel" insert "for uplift and use".
Page 8, Line 19Page 46, line 1, strike "(1)." and substitute "(1); except that "qualified
Page 8, Line 20purchaser" does not include a sustainable aviation fuel
Page 8, Line 21producer or blender.".
Page 8, Line 22Page 46, line 4, after "(a)" insert "(I)".
Page 8, Line 23Page 46, line 7, strike "equal to" and substitute "not less than".
Page 8, Line 24Page 46, line 10, after "purchased" insert "for use".
Page 8, Line 25Page 46, after line 12 insert:
Page 8, Line 26"(II) For tax years beginning on or after January 1, 2028,
Page 8, Line 27the office may allow an additional credit of fifty cents for each
Page 8, Line 28gallon of sustainable aviation fuel produced in the state that
Page 8, Line 29the qualified taxpayer purchased for use in the state during the
Page 8, Line 30income tax year, except as otherwise provided in subsection
Page 9, Line 1(3)(b) of this section.".
Page 9, Line 2Page 46, after line 20 insert:
Page 9, Line 3"(c) For purposes of this section, sustainable aviation fuel
Page 9, Line 4is deemed to be purchased for use in the state if it is delivered to
Page 9, Line 5and used for fueling aircraft at a Colorado airport, airfield, or
Page 9, Line 6airpark notwithstanding the subsequent operation of such
Page 9, Line 7aircraft outside the state. Except as provided in this subsection
Page 9, Line 8(3)(c), fuel loaded into a cargo tank or otherwise exported from
Page 9, Line 9the state is not deemed to be purchased for use in the state.".
Page 9, Line 10Page 46, line 21, strike "A" and substitute "Prior to purchasing
Page 9, Line 11sustainable aviation fuel for use in the state, a".
Page 9, Line 12Page 46, line 22, strike "claim" and substitute "reserve".
Page 9, Line 13Page 46, strike lines 26 and 27 and substitute "qualified taxpayer,
Page 9, Line 14documentation regarding the carbon intensity of the
Page 9, Line 15sustainable aviation fuel that will be purchased, and an
Page 9, Line 16estimate of the amount of sustainable aviation fuel the
Page 9, Line 17qualified taxpayer plans to purchase for use in the state
Page 9, Line 18during".
Page 9, Line 19Page 47, strike lines 2 through 4 and substitute:
Page 9, Line 20"(b) After reviewing the application, the office shall
Page 9, Line 21determine whether the applicant qualifies for the credit and the
Page 9, Line 22amount of credit to be reserved for the benefit of the qualified
Page 9, Line 23taxpayer, which may be all, part, or none of the amount
Page 9, Line 24requested in the application. The office shall notify the
Page 9, Line 25applicant in writing of its decision and the amount reserved, if
Page 9, Line 26any. The aggregate amount of credit the office may reserve
Page 9, Line 27pursuant to this subsection (4) must not exceed three million
Page 9, Line 28dollars per calendar year. In the case of a qualified taxpayer
Page 9, Line 29with an income tax year other than a calendar year, credit
Page 9, Line 30reserved pursuant to this subsection (4) may be claimed for the
Page 9, Line 31tax year that begins during the calendar year.
Page 9, Line 32(c) Following the close of the tax year, in accordance
Page 9, Line 33with the standards developed by the office pursuant to
Page 9, Line 34subsection (4)(e) of this section, the qualified taxpayer shall
Page 9, Line 35submit documentation substantiating the qualified taxpayer's
Page 9, Line 36purchases of sustainable aviation fuel for use in the state
Page 10, Line 1during the tax year. Upon a determination by the office that the
Page 10, Line 2purchases qualify for the credit allowed by this section, the
Page 10, Line 3office shall issue the taxpayer a tax credit certificate for the
Page 10, Line 4lesser of the credit allowed pursuant to subsection (3)(a) of this
Page 10, Line 5section with respect to the amount of sustainable aviation fuel
Page 10, Line 6actually purchased for use in the state or the amount of credit
Page 10, Line 7reserved for the benefit of the qualified taxpayer pursuant to
Page 10, Line 8this subsection (4).".
Page 10, Line 9Reletter succeeding paragraphs accordingly.
Page 10, Line 10Page 48, line 5, strike "production".
Page 10, Line 11Page 48, line 23, strike "39-22-549,".
Page 10, Line 12Page 48, strike lines 24 through 27.
Page 10, Line 13Page 49, strike lines 1 through 11.
Page 10, Line 14Renumber succeeding sections accordingly.
Page 10, Line 15Page 49, strike line 24 and substitute "article article 26 and any use tax
Page 10, Line 16imposed pursuant to article 2 of title 29, C.R.S.".
Page 10, Line 17Page 49, line 25, strike "this title 39,".
Page 10, Line 18Page 50, line 19, after the period add "The department of
Page 10, Line 19transportation shall notify the department of revenue of the
Page 10, Line 20identity of any common carrier eligible for the exemption
Page 10, Line 21allowed by this subsection (2)(c).".
Page 10, Line 22Page 50, strike lines 20 through 27.
Page 10, Line 23Page 51, strike lines 1 through 6.
Page 10, Line 24Page 51, strike lines 14 through 16 and substitute "fiscal year
Page 10, Line 25commencing on July 1, 2026, calendar year commencing on
Page 10, Line 26January 1, 2031, all sales, storage, and use of".
Page 10, Line 27Page 52, strike lines 6 and 7 and substitute "value of exempt sales.".
Page 10, Line 28Page 55, line 16, strike "tax and the" and substitute "tax and the tax,
Page 10, Line 29and, in addition, for any tax period, the".
Page 11, Line 1Page 58, strike line 13 and substitute "(2)(c)(I) introductory portion and
Page 11, Line 2(2.6)(a) introductory portion;"
Page 11, Line 3Page 58, line 14, strike "(4)(c)" and substitute "(1)(a)(III), (1)(b)(VIII),
Page 11, Line 4(4)(c),".
Page 11, Line 5Page 58, strike lines 18 through 27 and substitute:
Page 11, Line 6"(1) (a) (III) Notwithstanding subsection (1)(a)(I) of this
Page 11, Line 7section, for credits allowed beginning in income tax years
Page 11, Line 8commencing on or after January 1, 2027, a taxpayer is not
Page 11, Line 9allowed a credit with respect to a qualified investment in a
Page 11, Line 10commercial truck, truck tractor, tractor, or semitrailer with
Page 11, Line 11a gross vehicle weight rating of fifty-four thousand pounds or
Page 11, Line 12greater that is designated as Class A personal property as
Page 11, Line 13specified in section 42-3-106 (2)(a).
Page 11, Line 14(b) (VIII) This subsection (1)(b) is repealed, effective
Page 11, Line 15December 31, 2026.".
Page 11, Line 16Page 60, strike line 16 and substitute "amend (1)(b) as follows:".
Page 11, Line 17Page 60, strike lines 19 through 27.
Page 11, Line 18Page 61, strike lines 1 through 25.
Page 11, Line 19Page 62, lines 3 and 4, strike "the first two" and substitute "the first two
Page 11, Line 20any two of the first ten".
Page 11, Line 21Page 62, line 17, strike "section" and substitute "subsection (1)(b)".
Page 11, Line 22Page 62, strike lines 18 through 24.
Page 11, Line 23Page 64, strike lines 26 and 27.
Page 11, Line 24Strike pages 65 through 69.
Page 11, Line 25Page 70, strike lines 1 through 22.
Page 11, Line 26Renumber succeeding section accordingly.
Page 11, Line 27Page 70, after line 22 insert:
Page 11, Line 28"SECTION 31. In Colorado Revised Statutes, 39-22-303, amend
Page 11, Line 29(12)(b)(I) and (12)(b)(II); and add (12)(b)(III) as follows:
Page 12, Line 139-22-303. Dividends in a combined report - foreign source
Page 12, Line 2income - affiliated groups - definitions - rules - repeal.
Page 12, Line 3(12) As used in this section, unless the context otherwise requires:
Page 12, Line 4(b) "Listed jurisdiction" means:
Page 12, Line 5(I) For income tax years commencing before January 1, 2026,
Page 12, Line 6Andorra, Anguilla, Antigua and Barbuda, Aruba, the Bahamas, Bahrain,
Page 12, Line 7Barbados, Belize, Bermuda, Bonaire, British Virgin Islands, Cayman
Page 12, Line 8Islands, Cook Islands, Curacºao, Cyprus, Dominica, Gibraltar, Grenada,
Page 12, Line 9Guernsey-Sark-Alderney, Isle of Man, Jersey, Liberia, Luxembourg,
Page 12, Line 10Malta, Marshall Islands, Mauritius, Monaco, Montserrat, Nauru, Niue,
Page 12, Line 11Panama, Saba, Samoa, San Marino, Seychelles, Sint Eustatius, Sint
Page 12, Line 12Maarten, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines,
Page 12, Line 13Turks and Caicos Islands, U.S. Virgin Islands, and Vanuatu; and
Page 12, Line 14(II) For income tax years commencing on or after January 1, 2026,
Page 12, Line 15but before January 1, 2027, the jurisdictions listed in subsection
Page 12, Line 16(12)(b)(I) of this section and Hong Kong, Republic of Ireland,
Page 12, Line 17Liechtenstein, Netherlands, and Singapore; and
Page 12, Line 18(III) For income tax years commencing on or after January
Page 12, Line 191, 2027, the jurisdictions listed in subsection (12)(b)(I) of this
Page 12, Line 20section and Hong Kong, Republic of Ireland, Netherlands, and
Page 12, Line 21Singapore.".
Page 12, Line 22SECTION 32. In Colorado Revised Statutes, 42-1-225, amend
Page 12, Line 23(1)(c) and (2)(c); and add (3) and (4) as follows:
Page 12, Line 2442-1-225. Commercial vehicle enterprise tax fund - creation
Page 12, Line 25- repeal.
Page 12, Line 26(1) (c) On or after July 1, 2025, but before July 1, 2027, the
Page 12, Line 27fund consists of money collected and transmitted to the fund pursuant to
Page 12, Line 28section 42-4-1701 (4)(a)(II). The general assembly shall annually
Page 12, Line 29appropriate the money in the fund to cover the actual cost of
Page 12, Line 30administering section 39-30-104 (1)(b). After receiving the statement
Page 12, Line 31pursuant to section 39-30-104 (1)(b)(VI), the state treasurer shall credit
Page 12, Line 32the total cost of the amount of the tax credits stated therein to the general
Page 12, Line 33fund. Any money remaining in the commercial vehicle enterprise tax fund
Page 12, Line 34at the end of the state fiscal year shall not revert to the general fund,
Page 12, Line 35except as provided in subsection (3) of this section.
Page 12, Line 36(2) (c) On July 1, 2025, and each July 1 thereafter on July 1,
Page 12, Line 372026, the department shall allocate the fund balance, not including the
Page 12, Line 38amount appropriated to cover the actual cost of administering section
Page 12, Line 3939-30-104 (1)(b), to offset the income tax credit granted in section
Page 12, Line 4039-30-104 (1)(b).
Page 12, Line 41(3) On July 1, 2027, the state treasurer shall transfer all
Page 12, Line 42of the money in the fund to the Colorado economic development
Page 13, Line 1fund, created in section 24-46-105 (1)(a).
Page 13, Line 2(4) This section 42-1-225 is repealed, effective July 1, 2031.
Page 13, Line 3SECTION 33. In Colorado Revised Statutes, 42-4-1701, amend
Page 13, Line 4(4)(a)(II)(B) as follows:
Page 13, Line 542-4-1701. Traffic offenses and infractions classified -
Page 13, Line 6penalties - penalty and surcharge schedule - repeal.
Page 13, Line 7(4) (a) (II) (B) The state, county, city, or city and county issuing
Page 13, Line 8a citation that results in the assessment of the penalties in
Page 13, Line 9sub-subparagraph (A) of this subparagraph (II) subsection (4)(a)(II)(A)
Page 13, Line 10of this section may retain and distribute the following amount of the
Page 13, Line 11penalty according to the law of the jurisdiction that assesses the penalty,
Page 13, Line 12but before July 1, 2027, the remainder of the penalty shall be transmitted
Page 13, Line 13to the state treasurer, who shall credit the moneys money to the
Page 13, Line 14commercial vehicle enterprise tax fund created in section 42-1-225, and
Page 13, Line 15on or after July 1, 2027, to the general fund:".
Page 13, Line 16Renumber succeeding section accordingly.