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HB23-1121

Repeal Of Infrequently Used Tax Expenditures

Concerning the repeal of infrequently used tax expenditures.
Session:
2023 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

Legislative Oversight Committee Concerning Tax Policy. The bill repeals the following infrequently used tax expenditures:

  • The crop hail insurance premium tax exemption ( section 1 of the bill);
  • The in-state investment pre-1959 insurance premium tax deduction (section 1);
  • The corporate condemnation capital gains income tax deduction ( section 2 );
  • The oil shale excess percentage depletion income tax deduction (section 2);
  • The mining and milling impact assistance corporate income tax credit ( section 3 );
  • The oil shale equipment and machinery severance tax deduction ( section 4 );
  • The oil shale processing severance tax deduction (section 4);
  • The oil shale severance tax rate reductions (section 4);
  • The oil shale noncommercial production severance tax exemption (section 4); and
  • The mineral and mineral fuels impact assistance severance tax credit ( section 5 ).

Sections 6 and 7 make conforming amendments.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    03/23/2023 Signed Act PDF
    03/16/2023 Final Act PDF
    03/10/2023 Rerevised PDF
    03/09/2023 Revised PDF
    02/13/2023 Reengrossed PDF
    02/10/2023 Engrossed PDF
    01/27/2023 Introduced PDF
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