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C2AAC070068FE862872584F100533D85 Hearing Summary




PUBLIC
BILL SUMMARY For INCOME TAX STATUTE MODIFICATIONS TO ADDRESS DEFECTS

JOINT COMMITTEE COMMITTEE ON STATUTORY REVISION COMMITTEE
Date Jan 16, 2020      
Location SCR 352



Income tax statute modifications to address defects - Committee Discussion Only


08:09:13 AM  

Esther van Mourik, OLLS, testified before the committee, explaining that the bill corrects defects and anachronisms in the income tax statutes, including statutes that are no longer effective because of changes to federal law and statutes that reference now-repealed sections of state law. The bill summary details the reasons for the changes to statute in each section of the bill.

08:09:14 AM  

Josh Pens, Department of Revenue, testified before the committee, explaining that Colorado is a rolling conformity state, which means that because we start with federal taxable income, any changes that Congress makes to the calculation of federal taxable income automatically affect Colorado's starting point, unless the General Assembly makes an addition or subtraction. He explained that it was unlikely that the marriage penalty, which is reference in the bill, would return.



08:21:38 AM
Motion Introduce LLS 20-0827
Moved Tate
Seconded
Arndt
Brad Ramming, Esq. Excused
Patrice Bernadette Collins, Esq. Excused
McKean
Moreno
Tate
Valdez D.
Van Winkle Excused
Zenzinger
Woodward
YES: 0   NO: 0   EXC: 3   ABS:  0   FINAL ACTION:  Pass Without Objection






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