Colorado 2025 First Extraordinary Session Status: Enacted Bipartisan · 22 D · 1 R cosponsors

HB 1004 — Sale of Tax Credits

Last action — Governor Signed

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced August 21, 2025. Enacted.

Signed by Governor Jared Polis (Democratic) on August 28, 2025.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 98% · high confidence

  • Enacted

    Current position in the legislative process.

  • 36 sponsors

    4 primary, 32 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (22 D · 1 R) — cross-party backing.

  • Cleared a recorded vote

    Passed 11 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

The act authorizes the department of the treasury (department) to sell insurance premium tax credits to insurance companies that incur state premium tax liability (premium tax credit) and to C corporations that incur state income tax liability (corporate tax credit). The premium tax credit and the corporate tax credit (tax credits) may be offered for sale to insurance companies and C corporations by the department, subject to procedures adopted by the department. The department may contract or consult with an independent third party to manage the sale process, and if it does so, the independent third party must adopt the sale procedures.A qualified taxpayer who purchases a tax credit may claim the tax credit against its premium tax or income tax liability (tax liability), as applicable. The department, in consultation with the office of state planning and budgeting, prior to the sale of a tax credit, may determine the calendar years in which the qualified taxpayer may claim the qualified taxpayer's tax credit against the qualified taxpayer's tax liability. The amount of the tax credit claimed cannot exceed the taxpayer's tax liability for a given year and a tax credit is not refundable. The unused amount carries forward and may be claimed in subsequent years; except that a tax credit cannot be claimed for a tax liability incurred in a taxable year that begins after December 31, 2033. Insurance companies with a qualified home office or regional home office in the state have first priority to purchase premium tax credits.In fiscal year 2025-26, the department is authorized to issue tax credit certificates to qualified taxpayers equal to the lesser of a total face value of up to $125 million or total sales proceeds of up to $100 million, plus any reasonable and necessary administrative, monitoring, and closing costs of the department (closing costs). The minimum proposed tax credit purchase amount must be the greater of either the amount that an independent third party determines to be consistent with market conditions or 80% of the requested dollar amount of tax credits.The act creates the tax credit proceeds cash fund (fund). The proceeds from the issuance of tax credits must be deposited in the fund. Subject to annual appropriation, the department may expend money from the fund for any closing costs associated with implementing and administering the act. Subject to annual appropriation, the department of revenue may expend money from the fund for direct and indirect costs associated with implementing and administering the act. Each month, the state treasurer is required to credit the money generated by the issuance of tax credits to the fund. The department is required to transfer the money in the fund to the general fund, less any amounts used for expenses authorized by the act.For the 2025-26 state fiscal year, the act appropriates $3,173,500 to the department. The appropriation is from the fund and must be used for tax credit administration.APPROVED by Governor August 28, 2025EFFECTIVE August 28, 2025(Note: This summary applies to this bill as enacted.)

Bill Text

What changed in the latest version

345 added · 354 removed

Plain-language change summary

The amended bill HB 1004 clarifies that the funds generated from selling insurance premium tax credits will not require the state to incur debt or make future financial commitments. This change is important because it reassures taxpayers that the state is not pledging its credit or revenues for these tax credits, which could impact future budgets. Additionally, the bill emphasizes that using these tax credits does not constitute a change in tax policy that would require voter approval. Overall, these updates aim to provide more financial security and transparency in how the state manages its revenue.

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NOTE:
HOUSE BILL 25B-l004 BYREPRESENTATIVE(S) StewartR.
This bill has been prepared for the signatures of the appropriate legislative officers and the Governor.
andCamacho, Bacon,Boesenecker, Brown, Duran, Espenoza, Froelich, Garcia, Joseph, Lieder, Lindsay, Mabrey, McCormick, Sirota, Smith, Story, Titone, Willford, Zokaie, McCluskie, Gilchrist, Woodrow;
To determine whether the Governor has signed the bill or taken other action on it, please consult the legislative status sheet, the legislative history, or the Session Laws.
HOUSE BILL 25B-1004 BYREPRESENTATIVE(S)StewartR.andCamacho,Bacon,Boesenecker, Brown, Duran, Espenoza, Froelich, Garcia, Joseph, Lieder, Lindsay, Mabrey, McCormick, Sirota, Smith, Story, Titone, Willford, Zokaie, McCluskie, Gilchrist, Woodrow;
CONCERNING AUTHORIZING THE DEPARTMENT OF THE TREASURY TO SELL TAX CREDITS TO QUALIFIED TAXPAYERS , AND , IN CONNECTION THEREWITH ,CREATINGANDALLOCATINGTHEPROCEEDSTOTHETAX CREDIT SALE PROCEEDS CASH FUND AND TRANSFERRING THE PROCEEDS TO THE GENERAL FUND AND MAKING AN APPROPRIATION .
CONCERNING AUTHORIZING THE DEPARTMENT OF THE TREASURY TO SELL TAX CREDITS TO QUALIFIED TAXPAYERS, AND, IN CONNECTION THEREWITH, CREATING AND ALLOCATING THE PROCEEDS TO THETAX CREDIT SALE PROCEEDS CASH FUND AND TRANSFERRING THE PROCEEDS TO THE GENERAL FUND AND MAKING AN APPROPRIATION.
Be it enacted by the General Assembly of the State of Colorado:
Be it enacted by the General Assembly ofthe State ofColorado:
SECTION1.
SECTION 1.
InColoradoRevisedStatutes,addpart4toarticle36 of title 24 as follows:
In Colorado Revised Statutes, add pa114 to article 36 oftitle 24 as follows:
PART 4 SALE OF INSURANCE PREMIUM TAX CREDITS ________ Capital letters or bold & italic numbers indicate new material added to existing law;
PART4 SALE OF INSURANCE PREMIUM TAX CREDITS Capital letters &ritalic numbers indicate new material added to existing law;
dashes through words or numbers indicate deletions from existing law and such material is not part of the act.
dashes through words or numbers indicate deletionsfrom existing law andsuch material is not part of the act.
Legislativedeclaration-taxpreferenceperformance statement.
Legislative declaration -tax preference performance statement.
(1) HE GENERAL ASSEMBLY FINDS AND DECLARES THAT :
(1) THE GENERAL ASSEMBLY FINDS AND DECLARES THAT:
(a) THE INSURANCE PREMIUM TAX CREDITS AUTHORIZED BY THIS PART 4 ARE NOT REFUNDABLE AND DO NOT IMPOSE AN OBLIGATION OF PAYMENT IN ANY FUTURE YEAR ON THE STATE ;
(a) THE INSURANCE PREMIUM TAX CREDITS AUTHORIZED BY THIS PART 4 ARE NOT REFUNDABLE AND DO NOT IMPOSE AN OBLIGATION OF PAYMENT IN ANY FUTURE YEAR ON THE STATE;
(b) THE USE OF PROCEEDS FROM THE SALE OF INSURANCE PREMIUM TAXCREDITSDOESNOTREQUIRETHESTATETOBORROWMONEY ,EXTENDOR PLEDGE THE STATE S CREDIT,OR OBLIGATE THE STATE TO MAKE FUTURE PAYMENTS FROM STATE REVENUE ;
(b)THE USE OF PROCEEDS FROM THE SALE OF INSURANCE PREMIUM TAX CREDITS DOES NOT REQUIRE THE STATETO BORROW MONEY, EXTEND OR PLEDGE THE STATE'S CREDIT, OR OBLIGATE THE STATE TO MAKE FUTURE PAYMENTS FROM STATE REVENUE;
(c) THE SALE AND USE OF THE TAX CREDITS SHALL NOT BE DEEMED OR CONSTRUED AS CREATING INDEBTEDNESS OR OTHER FINANCIAL OBLIGATIONWHATSOEVERWITHINTHEMEANINGOFANYPROVISIONOFTHE STATECONSTITUTIONORTHELAWSOFTHESTATECONCERNINGORLIMITING THE CREATIONOFINDEBTEDNESSOROTHERFINANCIALOBLIGATIONBYTHE STATE;
(C)THE SALE AND USE OF THE TAX CREDITS SHALL NOT BE DEEMED OR CONSTRUED AS CREATING INDEBTEDNESS OR OTHER FINANCIAL OBLIGATION WHATSOEVER WITHIN THE MEANING OF ANY PROVISION OF THE STATE CONSTITUTION OR THE LAWS OFTHE STATE CONCERNING OR LIMITING THE CREATION OF INDEBTEDNESS OR OTHER FINANCIAL OBLIGATION BY THE STATE;
(d) T HE TAX CREDITS ALLOW AN INSURANCE COMPANY WITH AN INSURANCE PREMIUM TAX LIABILITY TO PREPAY ITS TAX LIABILITY FOR FUTUREYEARS WHICHDOESNOTCONSTITUTEATAXPOLICYCHANGEUNDER SECTION 20 (4)(aOF ARTICLE X OF THE STATE CONSTITUTION;AND (e) A NY PROCEEDS FROM THE SALE OF THE TAX CREDITS WILL BE OFFSET BY DECREASES IN FUTURE REVENUE RESULTING FROM THE BUYER 'S USE OF THE TAX CREDITS AND THEREFORE WILL NOT CAUSE A NET TAX REVENUE GAIN UNDER SECTION 20 (4)(a)OF ARTICLE X OF THE STATE CONSTITUTION .
(d) THE TAX CREDITS ALLOW AN INSURANCE COMPANY WITH AN INSURANCE PREMIUM TAX LIABILITY TO PREPAY ITS TAX LIABILITY FOR FUTURE YEARS, WHICH DOES NOT CONSTITUTEATAX POLICY CHANGE UNDER SECTION 20 (4)(a) OF ARTICLEX OF THE STATE CONSTITUTION;
(2) (a) IN ACCORDANCE WITH SECTION 39-21-304 (1),WHICH REQUIRES EACH BILL THAT CREATES A NEW TAX EXPENDITURE TO INCLUDE A TAX PREFERENCE PERFORMANCE STATEMENT AS PART OF A STATUTORY LEGISLATIVE DECLARATION ,THE GENERAL ASSEMBLY FURTHER FINDS AND DECLARESTHATTHEGENERALPURPOSESOFTHETAXCREDITSPROVIDEDFOR IN THIS PART 4 ARE TO INDUCE CERTAIN DESIGNATED BEHAVIOR BY TAXPAYERS AND PROVIDE A REDUCTION IN INSURANCE PREMIUM TAX LIABILITYFORCERTAINBUSINESSES .SPECIFICALLY,THISTAXEXPENDITURE ISINTENDEDTOINDUCEINSURANCECOMPANIESTOPURCHASETAXCREDITS THAT WILL REDUCE THEIR FUTURE INSURANCE PREMIUM TAX LIABILITY IN PAGE 2-HOUSE BILL 25B-1004 ORDER TO GENERATE MONEY FOR THE GENERAL FUND .
AND (e) ANY PROCEEDS FROM THE SALE OF THE TAX CREDITS WILL BE OFFSET BY DECREASES IN FUTURE REVENUE RESULTING FROM THE BUYER'S USE OF THE TAX CREDITS AND THEREFORE WILL NOT CAUSE A NET TAX REVENUE GAIN UNDER SECTION 20 (4)(a) OF ARTICLE X OF THE STATE CONSTITUTION.
(b) T HE GENERAL ASSEMBLY AND THE STATE AUDITOR SHALL MEASURE THE EFFECTIVENESS OF THE TAX CREDITS IN ACHIEVING THE PURPOSES SPECIFIED IN SUBSECTION(2)(aOF THIS SECTION BASED ON THE NUMBER AND VALUE OFTHE CREDITSCLAIMEDANDTHE TOTALAMOUNT OF GENERAL FUND MONEY GENERATED .
(2) (a) IN ACCORDANCE WITH SECTION 39-21-304 (1),WHICH REQUIRES EACH BILL THAT CREATES A NEWTAX EXPENDITURE TO INCLUDE A TAX PREFERENCE PERFORMANCE STATEMENT AS PART OF A STATUTORY LEGISLATIVE DECLARATION, THE GENERAL ASSEMBLY FURTHER FINDS AND DECLARESTHATTHEGENERALPURPOSES OFTHETAX CREDITS PROVIDED FOR IN THIS PART 4 ARE TO INDUCE CERTAIN DESIGNATED BEHAVIOR BY TAXPAYERS AND PROVIDE A REDUCTION IN INSURANCE PREMIUM TAX LIABILITY FORCERTAIN BUSINESSES.
HE DIVISION OF INSURANCE SHALL PROVIDE THE STATE AUDITOR WITH INFORMATION REGARDING THE TOTAL AMOUNTOFCREDITSCLAIMEDANDTHEGENERALFUNDMONEYGENERATED .
SPECIFICALLY, THIS TAX EXPENDITURE IS INTENDED TO INDUCE INSURANCE COMPANIES TO PURCHASE TAX CREDITS THAT WILL REDUCE THEIR FUTURE INSURANCE PREMIUM TAX LIABILITY IN P A G E 2-H O U SE B IL L 258-1004 ORDER TO GENERATE MONEY FOR THE GENERAL FUND.
(b) THE GENERAL ASSEMBLY AND THE STATE AUDITOR SHALL MEASURE THE EFFECTIVENESS OF THE TAX CREDITS IN ACHIEVING THE PURPOSES SPECIFIED IN SUBSECTION (2)(a) OF THIS SECTION BASED ON THE NUMBER AND VALUE OF THE CREDITS CLAIMED AND THE TOTAL AMOUNT OF GENERAL FUND MONEY GENERATED.
THE DIVISION OF INSURANCE SHALL PROVIDE THE STATE AUDITOR WITH INFORMATION REGARDING THE TOTAL AMOUNTOFCREDITS CLAIMED AND THE GENERAL FUND MONEY GENERATED.
AS USED IN THIS PART 4, UNLESS THE CONTEXT OTHERWISE REQUIRES :
A s USED IN THIS PART 4, UNLESS THE CONTEXT OTHERWISE REQUIRES:
(1) "DEPARTMENT "MEANS THE DEPARTMENT OF THE TREASURY .
(1) "DEPARTMENT" MEANS THE DEPARTMENT OF THE TREASURY.
(2) "DIVISION OF INSURANCE"MEANS THE DIVISION OF INSURANCE IN THE DEPARTMENT OF REGULATORY AGENCIES CREATED IN SECTION 10-1-103.
(2) "DIVISION OF INSURANCE" MEANS THE DIVISION OF INSURANCE IN THE DEPARTMENT OF REGULATORY AGENCIES CREATED IN SECTION 10-1-103.
(3) "PREMIUM TAX LIABILITY "MEANS THE LIABILITY IMPOSED BY SECTION 10-3-209OR 10-6-128OR ,INTHECASEOFAREPEALORREDUCTION BYTHESTATEOFTHELIABILITYIMPOSEDBYSECTION 10-3-209 OR10-6-128, ANYOTHERTAXLIABILITYIMPOSEDUPONANINSURANCE COMPANYBYTHE STATE.
(3) "PREMIUM TAX LIABILITY" MEANS THE LIABILITY IMPOSED BY SECTION 10-3-209 OR 10-6-128, OR, INTHECASEOFA REPEAL OR REDUCTION BYTHESTATEOFTHELIABILITY IMPOSEDBYSECTION 10-3-209 OR 10-6-128, ANY OTHERTAX LIABILITY IMPOSED UPON AN INSURANCE COMPANY BY THE STATE.
(4) "Q UALIFIED TAXPAYER " MEANS AN INSURANCE COMPANY AUTHORIZED TO DO BUSINESS IN C OLORADO THAT HAS PREMIUM TAX LIABILITYOWINGTOTHESTATEANDTHATPURCHASESATAXCREDITUNDER THIS PART 4.
(4) "QUALIFIED TAXPAYER" MEANS AN INSURANCE COMPANY AUTHORIZED TO DO BUSINESS IN COLORADO THAT HAS PREMIUM TAX LIABILITY OWINGTO THE STATE AND THAT PURCHASES ATAX CREDIT UNDER THIS PART 4.
"Q UALIFIED TAXPAYER " ALSO INCLUDES AN INSURANCE COMPANY THAT RECEIVES OR ASSUMES A TAX CREDIT TRANSFERRED IN ACCORDANCE WITH SECTION 24-36-403 (7)(e)OR 24-36-404 (5).
"QUALIFIED TAXPAYER" ALSO INCLUDES AN INSURANCE COMPANY THAT RECEIVES OR ASSUMES A TAX CREDIT TRANSFERRED IN ACCORDANCE WITH SECTION 24-36-403 (7)(eOR 24-36-404 (5).
(5) "T AX CREDIT" MEANS THE TAX CREDIT CREATED IN SECTION 24-36-403.
(5) "TAX CREDIT" MEANS THE TAX CREDIT CREATED IN SECTION 24-36-403.
(6) "TAX CREDIT SALE PROCEEDS"OR "SALE PROCEEDS "MEANSTHE MONEY OR OTHER LIQUID ASSET ACCEPTABLE TO THE STATE TREASURER THATAQUALIFIEDTAXPAYERPAYSTOTHEDEPARTMENTTHATISDEPOSITED IN THE TAX CREDIT SALE PROCEEDS CASH FUND CREATED IN SECTION 24-36-405 (1).
(6) "TAX CREDIT SALE PROCEEDS" OR "SALE PROCEEDS" MEANS THE MONEY OR OTHER LIQUID ASSET ACCEPTABLE TO THE STATE TREASURER THATAQUALIFIEDTAXPAYERPAYSTOTHEDEPARTMENTTHATISDEPOSITED IN THE TAX CREDIT SALE PROCEEDS CASH FUND CREATED IN SECTION 24-36-405 (1).
PAGE 3-HOUSE BILL 25B-1004 24-36-403.
PA G E 3-H O U SE B ILL 25B-1004 24-36-403.
QUALIFIED TAXPAYER MAY PURCHASE INSURANCE PREMIUM TAX CREDITS FROM THE DEPARTMENT IN ACCORDANCE WITH THIS SECTION AND MAY APPLY THE TAX CREDITS AGAINST ITS PREMIUM TAX LIABILITY IN ACCORDANCE WITH SECTION 24-36-404.
A QUALIFIED TAXPAYER MAY PURCHASE INSURANCE PREMIUM TAX CREDITS FROM THE DEPARTMENT IN ACCORDANCE WITH THIS SECTION AND MAY APPLY THE TAX CREDITS AGAINST ITS PREMIUM TAX LIABILITY IN ACCORDANCE WITH SECTION 24-36-404 .
(2) (a) (I) T DEPARTMENT IS AUTHORIZED TO ISSUE TAX CREDIT CERTIFICATES TO QUALIFIED TAXPAYERS PURSUANT TO THIS PART 4AND PART 5OF THIS ARTICLE36 EQUAL TO THE LESSER OF A TOTAL FACE VALUE OF UP TO ONE HUNDRED TWENTY FIVE MILLION DOLLARS OR TOTAL SALES PROCEEDS OF UP TO ONE HUNDRED MILLION DOLLARS , PLUS ANY REASONABLEANDNECESSARYADMINISTRATIVE ,MONITORING ,ANDCLOSING COSTS.
(2)(a)(I) THE DEPARTMENT IS AUTHORIZED TO ISSUE TAX CREDIT CERTIFICATES TO QUALIFIED TAXPAYERS PURSUANT TO THIS PART 4 AND PART 5 OF THIS ARTICLE 36 EQUAL TO THE LESSER OF A TOTAL FACE VALUE OF UP TO ONE HUNDRED TWENTY-FIVE MILLION DOLLARS OR TOTAL SALES PROCEEDS OF UP TO ONE HUNDRED MILLION DOLLARS, PLUS ANY REASONABLE ANDNECESSARY ADMINISTRATIVE, MONITORING, AND CLOSING COSTS.
(II) TEDEPARTMENTSHALLFIRSTOFFERFORSALETAXCREDITSTO A QUALIFIED TAXPAYER THAT HAS A QUALIFIED HOME OFFICE OR REGIONAL HOME OFFICE IN THIS STATE,AS DETERMINED BY THE COMMISSIONER OF INSURANCE PURSUANT TO SECTION 10-3-209 (1)(b)(IIAND SHALL ISSUE ANYCORRESPONDINGTAXCREDITCERTIFICATESTOAQUALIFIEDTAXPAYER PURCHASINGTHETAXCREDITSINACCORDANCEWITHTHISSECTIONBEFORE OFFERING FOR SALE TAX CREDITS TO ANY OTHER POTENTIAL PURCHASER .
(II)THE DEPARTMENT SHALL FIRSTOFFER FOR SALETAX CREDITS TO A QUALIFIED TAXPAYER THAT HAS A QUALIFIED HOME OFFICE OR REGIONAL HOME OFFICE IN THIS STATE, AS DETERMINED BY THE COMMISSIONER OF INSURANCE PURSUANT TO SECTION 10-3-209 (l)(b)(IllAND SHALL ISSUE ANY CORRESPONDINGTAX CREDITCERTIFICATES TO A QUALIFIEDTAXPAYER PURCHASING THE TAX CREDITS IN ACCORDANCE WITH THIS SECTION BEFORE OFFERING FOR SALE TAX CREDITS TO ANY OTHER POTENTIAL PURCHASER.
(b) THEDEPARTMENTMAYCONTRACTWITHANINDEPENDENTTHIRD PARTYTOCONDUCTORCONSULTONABIDDINGPROCESSAMONGQUALIFIED TAXPAYERS TO PURCHASE THE TAX CREDITS .
(b) THE DEPARTMENT MAY CONTRACT WITH AN INDEPENDENTTHIRD PARTY TO CONDUCT OR CONSULT ON A BIDDING PROCESS AMONG QUALIFIED TAXPAYERS TO PURCHASE THE TAX CREDITS.
(c) THEDEPARTMENTSHALLCONSULTWITHINSURANCECOMPANIES IN ADVANCE OF ISSUING ANY TAX CREDITS IN ACCORDANCE WITH THIS SECTION.
(C) THE DEPARTMENT SHALLCONSULT WITH INSURANCE COMPANIES IN ADVANCE OF ISSUING ANY TAX CREDITS IN ACCORDANCE WITH THIS SECTION.
(3) A N INSURANCE COMPANY AUTHORIZED TO DO BUSINESS IN COLORADO SEEKING TO PURCHASE TAX CREDITS MUST APPLY TO THE DEPARTMENT IN THE MANNER PRESCRIBED BY THE DEPARTMENT .
(3) AN INSURANCE COMPANY AUTHORIZED TO DO BUSINESS IN COLORADO SEEKING TO PURCHASE TAX CREDITS MUST APPLY TO THE DEPARTMENT IN THE MANNER PRESCRIBED BY THE DEPARTMENT.
(4) U SING PROCEDURES ADOPTED BY THE DEPARTMENT OR , IF APPLICABLE,BYANINDEPENDENTTHIRDPARTY ,EACHINSURANCECOMPANY THAT SUBMITS AN APPLICATION SHALL MAKE A TIMELY AND IRREVOCABLE OFFER, CONTINGENT ONLY ON THE DEPARTMENT 'S ISSUANCE TO THE INSURANCE COMPANY OF THE TAX CREDIT CERTIFICATES , TO MAKE A PAGE 4-HOUSE BILL 25B-1004 SPECIFIED PURCHASE PAYMENT AMOUNT TO THE DEPARTMENT ON DATES SPECIFIEDBYTHEDEPARTMENT ,WHICHMUSTNOTBURDENANYSINGLETAX YEAR .
(4) USING PROCEDURES ADOPTED BY THE DEPARTMENT OR, IF APPLICABLE, BY AN INDEPENDENTTHIRD PARTY, EACH INSURANCECOMPANY THAT SUBMITS AN APPLICATION SHALL MAKE A TIMELY AND IRREVOCABLE OFFER, CONTINGENT ONLY ON THE DEPARTMENT'S ISSUANCE TO THE INSURANCE COMPANY OF THE TAX CREDIT CERTIFICATES, TO MAKE A PA G E 4-H O U SE B IL L 25B -1004 SPECIFIED PURCHASE PAYMENT AMOUNT TO THE DEPARTMENT ON DATES SPECIFIEDBYTHEDEPARTMENT, WHICHMUSTNOTBURDENANYSINGLETAX YEAR.
HE OFFER MUST INCLUDE :
THE OFFER MUST INCLUDE:
(a) THE REQUESTED AMOUNT OF TAX CREDITS ,WHICH MUST NOT BE LESS THAN ANY MINIMUM AMOUNT ESTABLISHED IN PROCEDURES BY THE DEPARTMENT OR ,IF APPLICABL,THE INDEPENDENT THIRD PARTY ;
(a) THE REQUESTED AMOUNT OF TAX CREDITS, WHICH MUST NOT BE LESS THAN ANY MINIMUM AMOUNT ESTABLISHED IN PROCEDURES BY THE DEPARTMENT OR, IF APPLICABLE, THE INDEPENDENT THIRD PARTY;
(b) THE QUALIFIED TAXPAYER S PROPOSED TAX CREDIT PURCHASE AMOUNT FOR EACH TAX CREDIT DOLLAR REQUESTED .
(b) THE QUALIFIED TAXPAYER'S PROPOSED TAX CREDIT PURCHASE AMOUNT FOR EACH TAX CREDIT DOLLAR REQUESTED.
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T HE MINIMUM PROPOSED TAX CREDIT PURCHASE AMOUNT MUST BE THE GREATER OF EITHER:
THE MINIMUM PROPOSED TAX CREDIT PURCHASE AMOUNT MUST BE THE GREATER OF EITHER:
(I) THE PERCENTAGE OF THE REQUESTED DOLLAR AMOUNT OF TAX CREDITS THAT THE DEPARTMENT AND ,IF APPLICABLE,THE INDEPENDENT THIRDPARTYDETERMINESTOBECONSISTENTWITHMARKETCONDITIONSAS OF THE OFFER DATE;OR (II) EIGHTY PERCENT OF THE REQUESTED DOLLAR AMOUNT OF TAX CREDITS;AND (c) ANYOTHERINFORMATIONTHEDEPARTMENT OR ,IFAPPLICABLE , THE INDEPENDENT THIRD PARTY REQUIRES .
(I) THE PERCENTAGE OF THE REQUESTED DOLLAR AMOUNT OF TAX CREDITS THAT THE DEPARTMENT AND, IF APPLICABLE, THE INDEPENDENT THIRD PARTY DETERMINES TO BECONSISTENT WITH MARKETCONDITIONS AS OF THE OFFER DATE;
(5) T HE DEPARTMENT SHALL PROVIDE WRITTEN NOTICE TO EACH INSURANCECOMPANYTHATSUBMITSANAPPLICATIONINDICATINGWHETHER THE INSURANCE COMPANY HAS BEEN APPROVED AS A PURCHASER OF TAX CREDITS AND ,IF S, THE AMOUNT OF TAX CREDITS ALLOCATED AND THE DATE BY WHICH PAYMENT OF THE TAX CREDIT SALE PROCEEDS MUST BE MADE .
OR (II)EIGHTY PERCENT OF THE REQUESTED DOLLAR AMOUNT OF TAX CREDITS;
(6) O N RECEIPT OF PAYMENT OF THE SALE PROCEEDS , THE DEPARTMENT SHALL ISSUE TO EACH QUALIFIED TAXPAYER A TAX CREDIT CERTIFICATE.
AND (c) ANY OTHER INFORMATION THE DEPARTMENT OR, IF APPLICABLE, THE INDEPENDENT THIRD PARTY REQUIRES.
(5) THE DEPARTMENT SHALL PROVIDE WRITTEN NOTICE TO EACH INSURANCECOMPANYTHATSUBMITSAN APPLICATION INDICATING WHETHER THE INSURANCE COMPANY HAS BEEN APPROVED AS A PURCHASER OF TAX CREDITS AND, IF SO, THE AMOUNT OF TAX CREDITS ALLOCATED AND THE DATE BY WHICH PAYMENT OF THE TAX CREDIT SALE PROCEEDS MUST BE MADE.
(6) ON RECEIPT OF PAYMENT OF THE SALE PROCEEDS, THE DEPARTMENT SHALL ISSUE TO EACH QUALIFIED TAXPAYER A TAX CREDIT CERTIFICATE.
(a) T HE TOTAL AMOUNT OF PREMIUM TAX CREDITS THAT THE QUALIFIED TAXPAYER MAY CLAIM ;
(a) THE TOTAL AMOUNT OF PREMIUM TAX CREDITS THAT THE QUALIFIED TAXPAYER MAY CLAIM;
(b) T HE AMOUNT THAT THE QUALIFIED TAXPAYER HAS PAID OR AGREED TO PAY IN RETURN FOR THE ISSUANCE OF THE TAX CREDIT PAGE 5-HOUSE BILL 25B-1004 CERTIFICATES AND THE DATE OF THE PAYMENT ;
(b) THE AMOUNT THAT THE QUALIFIED TAXPAYER HAS PAID OR AGREED TO PAY IN RETURN FOR THE ISSUANCE OF THE TAX CREDIT PAGE 5-HOUSE BILL 25B-1004 CERTIFICATES AND THE DATE OF THE PAYMENT;
(c) THE DATESONWHICHTHE TAXCREDITSWILLBEAVAILABLEFOR USE BY THE QUALIFIED TAXPAYER ;
(c)THE DATES ON WHICH THE TAX CREDITS WILL BE AVAILABLE FOR USE BY THE QUALIFIED TAXPAYER;
(d) ANY PENALTIES OR OTHER REMEDIES FOR NONCOMPLIANCE ;
(d)ANY PENALTIES OR OTHER REMEDIES FOR NONCOMPLIANCE;
(e) THE PROCEDURES TO BE USED FOR TRANSFERRINGOR ASSUMING THETAXCREDITSINACCORDANCEWITHSUBSECTION (7)(eOFTHISSECTION OR SECTION 24-36-404 (5);
(e)THE PROCEDURES TO BE USED FOR TRANSFERRING OR ASSUMING THETAXCREDITS IN ACCORDANCE WITH SUBSECTION (7)(e)OFTHIS SECTION OR SECTION 24-36-404 (5);
(f) THE SERIAL NUMBER OF THE TAX CREDIT CERTIFICATE;AND (g) A NY OTHER REQUIREMENTS DEEMED NECESSARY BY THE DEPARTMENT AS A CONDITION OF ISSUING THE TAX CREDIT CERTIFICATE.
(f)THE SERIAL NUMBER OF THE TAX CREDIT CERTIFICATE;
(7) (a) T HE DEPARTMENT SHALL NOT ISSUE A TAX CREDIT CERTIFICATETOANYQUALIFIEDTAXPAYERTHATFAILSTOPROVIDETHETAX CREDIT SALE PROCEEDS WITHIN THE TIME THE DEPARTMENT SPECIFIES .
AND (g) ANY OTHER REQUIREMENTS DEEMED NECESSARY BY THE DEPARTMENT AS A CONDITION OF ISSUING THE TAX CREDIT CERTIFICATE.
(b) AQUALIFIEDTAXPAYERTHATFAILSTOPROVIDETHETAXCREDIT SALEPROCEEDSWITHINTHETIMETHEDEPARTMENTSPECIFIESISSUBJECTTO APENALTYEQUALTOTENPERCENTOFTHEAMOUNTOFTHEPURCHASEPRICE THAT REMAINS UNPAID .
(7) (a) THE DEPARTMENT SHALL NOT ISSUE A TAX CREDIT CERTIFICATETO ANY QUALIFIEDTAXPAYERTHAT FAILSTO PROVIDETHETAX CREDIT SALE PROCEEDS WITHIN THE TIME THE DEPARTMENT SPECIFIES.
THE PENALTY MUST BE PAID TO THE DEPARTMENT WITHIN THIRTY DAYS AFTER DEMAND .
(b) A QUALIFIEDTAXPAYERTHAT FAILS TO PROVIDETHETAX CREDIT SALE PROCEEDS WITHIN THETIME THE DEPARTMENTSPECIFIES IS SUBJECTTO APENALTYEQUALTOTENPERCENTOFTHEAMOUNTOFTHEPURCHASEPRICE THAT REMAINS UNPAID.
(c) THE DEPARTMENT MAY OFFER TO REALLOCATE THE DEFAULTED TAX CREDITS AMONG OTHER QUALIFIED TAXPAYERS ,SO THAT THE RESULT AFTERREALLOCATIONISTHESAMEASIFTHEINITIALALLOCATIONHADBEEN PERFORMED WITHOUT CONSIDERING THE TAX CREDIT ALLOCATION TO THE DEFAULTING QUALIFIED TAXPAYER .
THE PENALTY MUST BE PAID TO THE DEPARTMENT WITHIN THIRTY DAYS AFTER DEMAND.
(d) ITHEREALLOCATIONOFTAXCREDITSUNDERSUBSECTION (7)(c) OF THIS SECTION RESULTS IN THE PAYMENT BY ANOTHER QUALIFIED TAXPAYEROFTHEAMOUNTOFTAXCREDITSALEPROCEEDSNOTPAIDBYTHE DEFAULTING QUALIFIED TAXPAYER ,THE DEPARTMENT MAY WAIVE THE PENALTY IMPOSED UNDER SUBSECTION (7)(bOF THIS SECTION.
(c) THE DEPARTMENT MAY OFFER TO REALLOCATE THE DEFAULTED TAX CREDITS AMONG OTHER QUALIFIED TAXPAYERS, SO THAT THE RESULT AFTER REALLOCATION ISTHE SAMEAS IFTHE INITIAL ALLOCATION HAD BEEN PERFORMED WITHOUT CONSIDERING THE TAX CREDIT ALLOCATION TO THE DEFAULTING QUALIFIED TAXPAYER.
(e) A QUALIFIED TAXPAYER THAT FAILS TO PAY THE TAX CREDIT SALEPROCEEDSWITHINTHE TIMESPECIFIEDMAYAVOIDTHEIMPOSITIONOF PAGE 6-HOUSE BILL 25B-1004 THEPENALTYBYTRANSFERRINGTHEALLOCATIONOFTAXCREDITSTOANEW OR EXISTING QUALIFIED TAXPAYER WITHIN THIRTY DAYS AFTER THE DUE DATE OF THE DEFAULTED INSTALLMENT .
(d) IFTHEREALLOCATIONOFTAXCREDITS UNDERSUBSECTION (7)(c) OF THIS SECTION RESULTS IN THE PAYMENT BY ANOTHER QUALIFIED TAXPAYEROFTHEAMOUNT OFTAX CREDIT SALE PROCEEDS NOT PAID BYTHE DEFAULTING QUALIFIED TAXPAYER, THE DEPARTMENT MAY WAIVE THE PENALTY IMPOSED UNDER SUBSECTION (7)(b)OF THIS SECTION.
A NY TRANSFEREE OF AN ALLOCATION OF TAX CREDITS OF A DEFAULTING QUALIFIED TAXPAYER UNDER THIS SUBSECTION (7)SHALL AGREE TO PAY THE TAX CREDIT SALE PROCEEDS WITHIN FIVE DAYS AFTER THE DATE OF THE TRANSFER .
(e) A QUALIFIED TAXPAYER THAT FAILS TO PAY THE TAX CREDIT SALE PROCEEDS WITHIN THE TIME SPECIFIED MAY AVOID THE IMPOSITION OF PA G E 6-H O U SE B ILL 25B-1004 THE PENALTY BYTRANSFERRINGTHEALLOCATION OFTAX CREDITSTO ANEW OR EXISTING QUALIFIED TAXPAYER WITHIN THIRTY DAYS AFTER THE DUE DATE OF THE DEFAULTED INSTALLMENT.
(8) T HE TAX CREDIT SALE PROCEEDS PROVIDED BY A QUALIFIED TAXPAYER IN RETURN FOR A TAX CREDIT CERTIFICATE MUST BE DEPOSITED IN THE TAX CREDIT SALE PROCEEDS CASH FUND CREATED IN SECTION 24-36-405 (1).
ANY TRANSFEREE OF AN ALLOCATION OF TAX CREDITS OF A DEFAULTING QUALIFIED TAXPAYER UNDER THIS SUBSECTION (7)SHALL AGREE TO PAY THE TAX CREDIT SALE PROCEEDS WITHIN FIVE DAYS AFTER THE DATE OF THE TRANSFER.
(9) (a) THE DEPARTMENT SHALL PROVIDE ,WITHIN THIRTY DAYS AFTER THE CLOSE OF THE FISCAL YEAR ,A DATA FILE TO THE DIVISION OF INSURANCE AND THE DEPARTMENT OF REVENUE FOR EACH FISCAL YEAR IN WHICH IT ISSUES TAX CREDIT CERTIFICATES PURSUANT TO THIS PART.THE DATA FILE MUST INCLUDE :
(8) THE TAX CREDIT SALE PROCEEDS PROVIDED BY A QUALIFIED TAXPAYER IN RETURN FOR ATAX CREDIT CERTIFICATE MUST BE DEPOSITED IN THE TAX CREDIT SALE PROCEEDS CASH FUND CREATED IN SECTION 24-36-405 (1).
(I) THE NAME AND IDENTIFYING NUMBER ISSUED BY THE N ATIONAL A SSOCIATION OF INSURANCE C OMMISSIONERS , OR ANY SUCCESSOR ORGANIZATION ,OFEACHQUALIFIEDTAXPAYERTOWHICHTHEDEPARTMENT ISSUED A TAX CREDIT CERTIFICATE;
(9) (a) THE DEPARTMENT SHALL PROVIDE, WITHIN THIRTY DAYS AFTER THE CLOSE OF THE FISCAL YEAR, A DATA FILE TO THE DIVISION OF INSURANCE AND THE DEPARTMENT OF REVENUE FOR EACH FISCAL YEAR IN WHICH IT ISSUES TAX CREDIT CERTIFICATES PURSUANT TO THIS PAR4.THE DATA FILE MUST INCLUDE:
(II) THE TOTAL AMOUNT OF THE TAX CREDIT ALLOCATED TO THE QUALIFIED TAXPAYER ;AND (III) HE SERIAL NUMBER OF THE TAX CREDIT CERTIFICATE ISSUED TO THE QUALIFIED TAXPAYER .
(I) THE NAME AND IDENTIFYING NUMBER ISSUED BY THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS, OR ANY SUCCESSOR ORGANIZATION, OFEACHQUALIFIEDTAXPAYERTO WHICHTHE DEPARTMENT ISSUED A TAX CREDIT CERTIFICATE;
(b) T HE DEPARTMENT SHALL MAINTAIN RECORDS OF EACH TAX CREDIT CERTIFICATE ISSUED , TRANSFERRED , OR ASSUMED THAT ARE SUFFICIENT TO ALLOW THE DEPARTMENT OF REVENUE OR THE DIVISION OF INSURANCE TO VERIFY THE ISSUANCE AND OWNERSHIP OF THE CREDIT .THE DEPARTMENT SHALL PROVIDE THE RECORDS TO THE OFFICE OF THE STATE AUDITOR UPON REQUEST SO THAT THE STATE AUDITOR CAN EVALUATE THE EFFECTIVENESS OF THE TAX CREDITS IN ACCORDANCE WITH SECTIONS 24-36-401 (2)(b)AND 39-21-305.
(II) THE TOTAL AMOUNT OF THE TAX CREDIT ALLOCATED TO THE QUALIFIED TAXPAYER;
(10) THEDEPARTMENTMAYPAYANINDEPENDENTTHIRDPARTYAND ANY CONSULTANTS REASONABLE AND NECESSARY ADMINISTRATIVE , PAGE 7-HOUSE BILL 25B-1004 MONITORING ,AND CLOSINGCOSTSUSINGTHE PROCEEDSFROMTHE SALE OF TAX CREDITS.
AND (III)THE SERIAL NUMBER OF THE TAX CREDIT CERTIFICATE ISSUED TO THE QUALIFIED TAXPAYER.
(b) THE DEPARTMENT SHALL MAINTAIN RECORDS OF EACH TAX CREDIT CERTIFICATE ISSUED, TRANSFERRED, OR ASSUMED THAT ARE SUFFICIENT TO ALLOW THE DEPARTMENT OF REVENUE OR THE DIVISION OF INSURANCE TO VERIFY THE ISSUANCE AND OWNERSHIP OF THE CREDIT.
THE DEPARTMENT SHALL PROVIDE THE RECORDS TO THE OFFICE OF THE STATE AUDITOR UPON REQUEST SO THAT THE STATE AUDITOR CAN EVALUATE THE EFFECTIVENESS OF THE TAX CREDITS IN ACCORDANCE WITH SECTIONS 24-36-401 (2)(b)AND 39-21-305.
(10) THEDEPARTMENTMAYPAYANINDEPENDENTTHIRDPARTYAND ANY CONSULTANTS REASONABLE AND NECESSARY ADMINISTRATIVE, PAGE 7-HOUSE BILL 25B-1004 MONITORING, AND CLOSING COSTS USING THE PROCEEDS FROM THE SALE OF TAX CREDITS.
(1) FOR A TAX CREDIT CERTIFICATE ISSUED IN FISCAL YEA2025-26,THE DEPARTMENT ,INCONSULTATIONWITHTHEOFFICEOFSTATEPLANNINGAND BUDGETING ,PRIORTOTHE SALE ,MAYDETERMINE THE CALENDAR YEARSIN WHICH THE QUALIFIED TAXPAYER MAY CLAIM THE QUALIFIED TAXPAYER 'S TAX CREDIT AGAINST THE QUALIFIED TAXPAYER SPREMIUM TAX LIABILITY.
(1) FOR A TAX CREDIT CERTIFICATE ISSUED IN FISCAL YEAR 2025-26, THE DEPARTMENT, IN CONSULTATION WITH THE OFFICE OF STATE PLANNING AND BUDGETING, PRIORTO THE SALE, MAY DETERMINE THE CALENDAR YEARS IN WHICH THE QUALIFIED TAXPAYER MAY CLAIM THE QUALIFIED TAXPAYER'S TAX CREDIT AGAINST THE QUALIFIED TAXPAYER'S PREMIUM TAX LIABILITY.
(2) THE TOTALCREDIT TOBE APPLIED BY A QUALIFIED TAXPAYER IN ANY ONE YEAR MUST NOT EXCEED THE PREMIUM TAX LIABILITY OF THE QUALIFIEDTAXPAYERFORTHETAXABLEYEAR .FTHEQUALIFIEDTAXPAYER CANNOT USE THE ENTIRE AMOUNT OF THE TAX CREDIT FOR THE TAXABLE YEAR IN WHICH THE TAXPAYER IS ELIGIBLE FOR THE CREDIT,THE EXCESS MAY BE CARRIED OVER TO SUCCEEDING TAXABLE YEARS AND USED AS A CREDITAGAINSTTHEPREMIUMTAXLIABILITYOFTHETAXPAYERFORTHOSE TAXABLE YEARS ;EXCEPT THAT THE CREDIT MAY NOT BE CARRIED OVER TO ANYTAXABLEYEARTHATBEGINSAFTER D ECEMBER 31,2033.ANYAMOUNT OF THE CREDIT THAT IS NOT TIMELY CLAIMED EXPIRES AND IS NOT REFUNDABLE .
(2) THE TOTAL CREDIT TO BE APPLIED BY A QUALIFIED TAXPAYER IN ANY ONE YEAR MUST NOT EXCEED THE PREMIUM TAX LIABILITY OF THE QUALIFIEDTAXPAYER FORTHETAXABLE YEAR.
(3) A QUALIFIEDTAXPAYERCLAIMING A CREDIT UNDER THIS PART 4 SHALL SUBMIT THE TAX CREDIT CERTIFICATE WITH ITS TAX RETURN.
IFTHE QUALIFIEDTAXPAYER CANNOT USE THE ENTIRE AMOUNT OF THE TAX CREDIT FOR THE TAXABLE YEAR IN WHICH THE TAXPAYER IS ELIGIBLE FOR THE CREDIT, THE EXCESS MAY BE CARRIED OVER TO SUCCEEDING TAXABLE YEARS AND USED AS A CREDITAGAINST THE PREMIUM TAX LIABILITY OF THE TAXPAYER FORTHOSE TAXABLE YEARS;
(4) A QUALIFIED TAXPAYER CLAIMING A TAX CREDIT UNDER THIS PART 4SHALLNOT BE REQUIREDTOPAYANYADDITIONALORRETALIATORY TAX AS A RESULT OF CLAIMING THE CREDIT.
EXCEPT THAT THE CREDIT MAY NOT BE CARRIED OVER TO ANYTAXABLEYEARTHATBEGINSAFTERDECEMBER3 l,2033.A N Y AMOUNT OF THE CREDIT THAT IS NOT TIMELY CLAIMED EXPIRES AND IS NOT REFUNDABLE.
(5) IAQUALIFIEDTAXPAYERHOLDINGANUNCLAIMEDTAXCREDIT IS PART OF A MERGER ,ACQUISITION, OR LINE OF BUSINESS DIVESTITURE TRANSACTION ,THETAXCREDITMAYBETRANSFERREDTOANDASSUMEDBY THE RESULTING ENTITY IF THE RESULTING ENTITY IS AN INSURANCE COMPANY AUTHORIZED TO DO BUSINESS IN C OLORADO THAT HAS PREMIUM TAX LIABILITY.
(3) A QUALIFIED TAXPAYER CLAIMING A CREDIT UNDER THIS PART 4 SHALL SUBMIT THE TAX CREDIT CERTIFICATE WITH ITS TAX RETURN.
HE QUALIFIED TAXPAYER THAT ORIGINALLY PURCHASED THECREDITANDTHERESULTINGENTITYSHALLNOTIFYTHEDEPARTMENTIN WRITINGOFTHETRANSFERORASSUMPTIONOFTHECREDITINACCORDANCE WITH PROCEDURES ADOPTED BY THE DEPARTMENT .
(4) A QUALIFIED TAXPAYER CLAIMING A TAX CREDIT UNDER THIS PART 4 SHALL NOT BE REQUIRED TO PAY ANY ADDITIONAL OR RETALIATORY TAX AS A RESULT OF CLAIMING THE CREDIT.
THE TRANSFER OR ASSUMPTIONOFTHETAXCREDITDOESNOTAFFECTTHETIMESCHEDULEFOR CLAIMING THE TAX CREDIT AS PROVIDED IN THIS SECTION PAGE 8-HOUSE BILL 25B-1004 (6) THEDEPARTMENTSHALLPROVIDEAREPORTTOTHEDIVISIONOF INSURANCE FOR EACH FISCAL YEAR IN WHICH IT ISSUES TAX CREDIT CERTIFICATES PURSUANT TO THIS PART4WITHIN THIRTY DAYS AFTER THE CLOSE OF THE FISCAL YEAR HE REPORT MUST INCLUDE :
(5) IF A QUALIFIED TAXPAYER HOLDING AN UNCLAIMED TAX CREDIT IS PART OF A MERGER, ACQUISITION, OR LINE OF BUSINESS DIVESTITURE TRANSACTION, THE TAX CREDIT MAY BETRANSFERREDTO AND ASSUMED BY THE RESULTING ENTITY IF THE RESULTING ENTITY IS AN INSURANCE COMPANY AUTHORIZED TO DO BUSINESS IN COLORADO THAT HAS PREMIUM TAX LIABILITY.
(a) TE NAME ANDIDENTIFYINGNUMBERISSUEDBYTHE NATIONAL A SSOCIATION OF NSURANCE COMMISSIONERS , OR ANY SUCCESSOR ORGANIZATION ,OFEACHQUALIFIEDTAXPAYERTOWHICHTHEDEPARTMENT ISSUED A TAX CREDIT CERTIFICATE (b) THE TOTAL AMOUNT OF THE TAX CREDIT ALLOCATED TO THE QUALIFIED TAXPAYER ;AND (c) THE SERIAL NUMBER OF THE TAX CREDIT CERTIFICATE ISSU,D TRANSFERRED ,ORASSUMEDTHATISSUFFICIENTTOALLOWTHEDIVISIONOF INSURANCEINTHEDEPARTMENTOFREGULATORYAGENCIESTOVERIFYTHE ISSUANCE AND OWNERSHIP OF THE TAX CREDIT.
THE QUALIFIED TAXPAYER THAT ORIGINALLY PURCHASED THE CREDITAND THE RESULTING ENTITY SHALLNOTIFY THE DEPARTMENT IN WRITING OF THE TRANSFER OR ASSUMPTION OFTHE CREDIT IN ACCORDANCE WITH PROCEDURES ADOPTED BY THE DEPARTMENT.
THE TRANSFER OR ASSUMPTION OF THETAX CREDIT DOES NOTAFFECTTHETIME SCHEDULE FOR CLAIMING THE TAX CREDIT AS PROVIDED IN THIS SECTION.
PA G E 8-H O U SE B ILL 25B -l 004 (6) THE DEPARTMENT SHALL PROVIDE A REPORT TO THE DIVISION OF INSURANCE FOR EACH FISCAL YEAR IN WHICH IT ISSUES TAX CREDIT CERTIFICATES PURSUANT TO THIS PART 4 WITHIN THIRTY DAYS AFTER THE CLOSE OF THE FISCAL YEAR.
THE REPORT MUST INCLUDE:
(a)THE NAME AND IDENTIFYING NUMBER ISSUED BY THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS, OR ANY SUCCESSOR ORGANIZATION,OFEACHQUALIFIEDTAXPAYERTOWHICHTHEDEPARTMENT ISSUED A TAX CREDIT CERTIFICATE;
(b) THE TOTAL AMOUNT OF THE TAX CREDIT ALLOCATED TO THE QUALIFIED TAXPAYER;
AND (C) THE SERIAL NUMBER OF THE TAX CREDIT CERTIFICATE ISSUED, TRANSFERRED, OR ASSUMED THAT IS SUFFICIENTTO ALLOW THE DIVISION OF INSURANCE IN THE DEPARTMENT OF REGULATORY AGENCIES TO VERIFY THE ISSUANCE AND OWNERSHIP OF THE TAX CREDIT.
Taxcreditsaleproceedscashfund-creation.(1) THE TAX CREDIT SALE PROCEEDS CASH FUND IS CREATED IN THE STATE TREASURY .THE FUND CONSISTS OFMONEY GENERATED BY SALE PROCEEDS CREDITED TO THE FUND PURSUANT TO SECTION24-36-406AND ANY OTHER MONEYTHAT THE GENERALASSEMBLY MAY APPROPRIATE ORTRANSFERTO THE FUND.
Tax creditsale proceeds cash fund -creation.1)THE TAX CREDIT SALE PROCEEDS CASH FUND IS CREATED IN THE STATE TREASURY.
(2) TESTATETREASURERSHALLCREDITALLINTERESTANDINCOME DERIVEDFROMTHEDEPOSITANDINVESTMENTOFMONEYINTHETAXCREDIT SALE PROCEEDS CASH FUND TO THE FUND.
THE FUND CONSISTS OF MONEY GENERATED BY SALE PROCEEDS CREDITED TO THE FUND PURSUANT TO SECTION 24-36-406 AND ANY OTHER MONEY THAT THE GENERAL ASSEMBLY MAY APPROPRIATE OR TRANSFER TO THE FUND.
(3) THESTATETREASURERSHALLTRANSFERANYUNEXPENDEDAND UNENCUMBERED MONEY REMAINING IN THE TAX CREDIT SALE PROCEEDS CASH FUND AT THE END OF A FISCAL YEAR TO THE GENERAL FUND (4) (a) SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY ,THEDEPARTMENTMAYEXPENDMONEYFROMTHEFUNDFORANY REASONABLEANDNECESSARYADMINISTRATIVE ,MONITORING ,ANDCLOSING COSTSASSOCIATEDWITHIMPLEMENTINGANDADMINISTERINGPARTS 4AND OF THIS ARTIC.E (b) SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL PAGE 9-HOUSE BILL 25B-1004 ASSEMBLY ,THE DEPARTMENT OF REVENUE MAY EXPEND MONEY FROM THE FUND FOR DIRECT AND INDIRECT COSTS ASSOCIATED WITH IMPLEMENTING AND ADMINISTERING PARTS 4 AND 5 OF THIS ARTICL.
(2) THE STATETREASURERSHALLCREDITALL INTERESTAND INCOME DERIVED FROM THE DEPOSITAND INVESTMENTOF MONEY INTHETAX CREDIT SALE PROCEEDS CASH FUND TO THE FUND.
(3) THE STATE TREASURER SHALLTRANSFER ANY UNEXPENDED AND UNENCUMBERED MONEY REMAINING IN THE TAX CREDIT SALE PROCEEDS CASH FUND AT THE END OF A FISCAL YEAR TO THE GENERAL FUND.
(4) (a) SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, THE DEPARTMENT MAY EXPEND MONEY FROMTHE FUND FORANY REASONABLEANDNECESSARY ADMINISTRATIVE, MONITORING, AND CLOSING COSTS ASSOCIATED WITH IMPLEMENTING AND ADMINISTERING PARTS 4 AND OF THIS ARTICLE.
(b) SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL P A G E 9-H O U SE B ILL 25B-1004 ASSEMBLY, THE DEPARTMENT OF REVENUE MAY EXPEND MONEY FROM THE FUND FOR DIRECT AND INDIRECT COSTS ASSOCIATED WITH IMPLEMENTING AND ADMINISTERING PARTS 4 AND 5 OF THIS ARTICLE.
Distributionofsaleproceeds.ECHMONTH ,THESTATE TREASURERSHALLCREDIT THE MONEYGENERATEDBYTHE SALE PROCEEDS PURSUANT TO PARTS 4 AND 5OF THIS ARTICLE36 TO THE TAX CREDIT SALE PROCEEDS CASH FUND .THE DEPARTMENT SHALL TRANSFER THE MONEY TO THEGENERALFUNDLESSANYAMOUNTSUSEDFORTHEEXPENSESDESCRIBED IN SECTION24-36-405 (4).
Distribution ofsale proceedEACH MONTH, THESTATE TREASURER SHALL CREDIT THE MONEY GENERATED BY THE SALE PROCEEDS PURSUANT TO PARTS 4 AND 5 OF THIS ARTICLE 36 TO THE TAX CREDIT SALE PROCEEDS CASH FUND.
THE DEPARTMENT SHALL TRANSFER THE MONEY TO THE GENERAL FUND LESS ANY AMOUNTS USED FORTHE EXPENSES DESCRIBED IN SECTION 24-36-405 (4).
Repeal of part.
Repeal of part.THIS PART 4 IS REPEALED, EFFECTIVE DECEMBER 31, 2040.
TIS PART4 IS REPEALED,EFFECTIVE D ECEMBER 31, 2040.
SECTION 2.
SECTION2.
In Colorado Revised Statutes, add part 5to arti36e oftitle24 as follows:
InColoradoRevisedStatutes,addpart5toarticle36 of title 24 as follows:
PARTS SA LE O F C O R PO R A TE TA X C R ED ITS 24-36-501.
PART 5 SALE OF CORPORATE TAX CREDITS 24-36-501.
Legislativedeclaration- tax preference performance statement.
Legislativedeclaration-taxpreferenceperformance statement.
(1) THE GENERAL ASSEMBLY FINDS AND DECLARES THAT:
(1) TE GENERAL ASSEMBLY FINDS AND DECLARES THAT :
(a)THE CORPORATE TAX CREDITS AUTHORIZED BY THIS PART 5 ARE NOT REFUNDABLE AND DO NOT IMPOSE AN OBLIGATION OF PAYMENT IN ANY FUTURE YEAR ON THE STATE;
(a) THE CORPORATE TAX CREDITS AUTHORIZED BY THIS PART5 ARE NOTREFUNDABLEANDDONOT IMPOSE ANOBLIGATIONOFPAYMENT INANY FUTURE YEAR ON THE STATE ;
(b) THE USE OF PROCEEDS FROM THE SALE OF CORPORATE TAX CREDITS DOES NOT REQUIRE THE STATE TO BORROW MONEY, EXTEND OR PLEDGE THE STATE'S CREDIT, OR OBLIGATE THE STATE TO MAKE FUTURE PAYMENTS FROM STATE REVENUE;
(b) T HE USE OF PROCEEDS FROM THE SALE OF CORPORATE TAX CREDITS DOES NOT REQUIRE THE STATE TO BORROW MONEY ,EXTEND OR PLEDGE THE STATE S CREDIT,OR OBLIGATE THE STATE TO MAKE FUTURE PAYMENTS FROM STATE REVENUE ;
(d) THE TAXCREDITSALLOWACORPORATIONWITHANINCOME TAX PAGE 10-HOUSE BILL 25B-1004 LIABILITY TO PREPAY ITS TAX LIABILITY FOR FUTURE YEAR,WHICH DOES NOT CONSTITUTE A TAX POLICY CHANGE UNDER SECTION 20 (4)(a) OF ARTICLE X OF THE STATE CONSTITUTION;AND (e) A NY PROCEEDS FROM THE SALE OF THE TAX CREDITS WILL BE OFFSET BY DECREASES IN FUTURE REVENUE RESULTING FROM THE BUYER 'S USE OF THE TAX CREDITS AND THEREFORE WILL NOT CAUSE A NET TAX REVENUE GAIN UNDER SECTION 20 (4)(a)OF ARTICLE X OF THE STATE CONSTITUTION .
(d) THE TAX CREDITS ALLOW A CORPORATION WITH AN INCOME TAX PA G E 10-H O U SE B ILL 25B-1004 LIABILITY TO PREPAY ITS TAX LIABILITY FOR FUTURE YEARS, WHICH DOES NOT CONSTITUTE A TAX POLICY CHANGE UNDER SECTION 20 (4)(a) OF ARTICLE X OF THE STATE CONSTITUTION;
(2) (a) IN ACCORDANCE WITH SECTION 39-21-304 (1),WHICH REQUIRES EACH BILL THAT CREATES A NEW TAX EXPENDITURE TO INCLUDE A TAX PREFERENCE PERFORMANCE STATEMENT AS PART OF A STATUTORY LEGISLATIVE DECLARATION ,THE GENERAL ASSEMBLY FURTHER FINDS AND DECLARESTHATTHEGENERALPURPOSESOFTHETAXCREDITSPROVIDEDFOR IN THIS PART 5 ARE TO INDUCE CERTAIN DESIGNATED BEHAVIOR BY TAXPAYERS AND PROVIDE A REDUCTION IN INCOME TAX LIABILITY FOR CERTAIN BUSINESSES.
AND (e) ANY PROCEEDS FROM THE SALE OF THE TAX CREDITS WILL BE OFFSET BY DECREASES IN FUTURE REVENUE RESULTING FROM THE BUYER'S USE OF THE TAX CREDITS AND THEREFORE WILL NOT CAUSE A NET TAX REVENUE GAIN UNDER SECTION 20 (4)(a) OF ARTICLE X OF THE STATE CONSTITUTION.
SPECIFICALLY,THIS TAX EXPENDITURE IS INTENDED TOINDUCE C CORPORATIONSTOPURCHASETAXCREDITSTHATWILLREDUCE THEIR FUTURE INCOME TAX LIABILITY IN ORDER TO GENERATE MONEY FOR THE GENERAL FUND .
(2) (a) IN ACCORDANCE WITH SECTION 39-21-304 (1),WHICH REQUIRES EACH BILL THAT CREATES A NEW TAX EXPENDITURE TO INCLUDE A TAX PREFERENCE PERFORMANCE STATEMENT AS PART OF A STATUTORY LEGISLATIVE DECLARATION, THE GENERAL ASSEMBLY FURTHER FINDS AND DECLARESTHATTHEGENERALPURPOSESOFTHETAXCREDITSPROVIDEDFOR IN THIS PART 5 ARE TO INDUCE CERTAIN DESIGNATED BEHAVIOR BY TAXPAYERS AND PROVIDE A REDUCTION IN INCOME TAX LIABILITY FOR CERTAIN BUSINESSES.
(b) T HE GENERAL ASSEMBLY AND THE STATE AUDITOR SHALL MEASURE THE EFFECTIVENESS OF THE TAX CREDITS IN ACHIEVING THE PURPOSES SPECIFIED IN SUBSECTION(2)(aOF THIS SECTION BASED ON THE NUMBERANDVALUE OFTHE CREDITSCLAIMED AND THE TOTALAMOUNT OF GENERALFUND MONEY GENERATED .THE DEPARTMENT OFREVENUE SHALL PROVIDE THE STATE AUDITOR WITH INFORMATION REGARDING THE TOTAL AMOUNTOFCREDITSCLAIMEDANDTHEGENERALFUNDMONEYGENERATED .
SPECIFICALLY, THIS TAX EXPENDITURE IS INTENDED TO INDUCE CCORPORATIONSTO PURCHASETAX CREDITSTHAT WILL REDUCE THEIR FUTURE INCOME TAX LIABILITY IN ORDER TO GENERATE MONEY FOR THE GENERAL FUND.
(b) THE GENERAL ASSEMBLY AND THE STATE AUDITOR SHALL MEASURE THE EFFECTIVENESS OF THE TAX CREDITS IN ACHIEVING THE PURPOSES SPECIFIED IN SUBSECTION (2)(a) OF THIS SECTION BASED ON THE NUMBER AND VALUE OFTHE CREDITS CLAIMED AND THE TOTAL AMOUNT OF GENERAL FUND MONEY GENERATED.
THE DEPARTMENT OF REVENUE SHALL PROVIDE THE STATE AUDITOR WITH INFORMATION REGARDING THE TOTAL AMOUNT OFCREDITS CLAIMEDANDTHEGENERAL FUND MONEY GENERATED.
AS USED IN THIS PART 5, UNLESS THE CONTEXT OTHERWISE REQUIRES :
A s USED IN THIS PART 5, UNLESS THE CONTEXT OTHERWISE REQUIRES:
(1) "C CORPORATION " HAS THE SAME MEANING AS IN SECTION 39-22-103 (2.5).
(1) "C CORPORATION" HAS THE SAME MEANING AS IN SECTION 39-22-103 (2.5).
(2) "DEPARTMENT "MEANS THE DEPARTMENT OF THE TREASURY .
(2) "DEPARTMENT" MEANS THE DEPARTMENT OF THE TREASURY.
(3) "INCOME TAX LIABILITY " MEANS THE LIABILITY IMPOSED BY SECTION 39-22-301.
(3) "INCOME TAX LIABILITY" MEANS THE LIABILITY IMPOSED BY SECTION 39-22-301.
PAGE 11-HOUSE BILL 25B-1004 (4) "QUALIFIEDTAXPAYER " MEANSA CCORPORATIONAUTHORIZED TO DO BUSINESS INC OLORADO THAT HAS OR WILL HAVE AN INCOME TAX LIABILITY OWINGTO THE STATE."QUALIFIED TAXPAYER "ALSO INCLUDES A C CORPORATION THAT RECEIVES OR ASSUMES A TAX CREDIT TRANSFERRED IN ACCORDANCE WITH SECTION 26-36-503 (7)(e).
PA G E I I-H O U SE BILL 25B-1004 (4) "QUALIFIED TAXPAYER" MEANS A C CORPORATION AUTHORIZED TO DO BUSINESS IN COLORADO THAT HAS OR WILL HAVE AN INCOME TAX LIABILITY OWING TO THE STATE.
(5) "TAX CREDIT " MEANS THE TAX CREDIT CREATED IN SECTION 24-36-503.
"QUALIFIED TAXPAYER" ALSO INCLUDES A C CORPORATION THAT RECEIVES OR ASSUMES A TAX CREDIT TRANSFERRED IN ACCORDANCE WITH SECTION 26-36-503 (7)(e).
(6) "TAX CREDIT SALE PROCEEDS"OR "SALE PROCEEDS"MEANSTHE MONEY OR OTHER LIQUID ASSET ACCEPTABLE TO THE STATE TREASURER THATAQUALIFIEDTAXPAYERPAYSTOTHEDEPARTMENTTHATISDEPOSITED IN THE TAX CREDIT SALE PROCEEDS CASH FUND CREATED IN SECTION 24-36-405 (1).
(5) "TAX CREDIT" MEANS THE TAX CREDIT CREATED IN SECTION 24-36-503.
(6) "TAX CREDIT SALE PROCEEDS" OR "SALE PROCEEDS" MEANS THE MONEY OR OTHER LIQUID ASSET ACCEPTABLE TO THE STATE TREASURER THATAQUALIFIEDTAXPAYERPAYSTOTHEDEPARTMENTTHATISDEPOSITED IN THE TAX CREDIT SALE PROCEEDS CASH FUND CREATED IN SECTION 24-36-405 (1).
Corporate tax credits - purchase - authorization to issue-terms-report.(1) A QUALIFIEDTAXPAYERMAYPURCHASEINCOME TAX CREDITS FROM THE DEPARTMENT IN ACCORDANCE WITH THIS SECTION AND MAY APPLY THE TAX CREDITS AGAINST ITS INCOME TAX LIABILITY IN ACCORDANCE WITH SECTION 24-36-504.
Corporate tax credits - purchase - authorization to issue -terms - report1)A QUALIFIEDTAXPAYER MAY PURCHASE INCOME TAX CREDITS FROM THE DEPARTMENT IN ACCORDANCE WITH THIS SECTION AND MAY APPLY THE TAX CREDITS AGAINST ITS INCOME TAX LIABILITY IN ACCORDANCE WITH SECTION 24-36-504.
(2) (a) THE DEPARTMENT IS AUTHORIZED TO ISSUE TAX CREDIT CERTIFICATES TO QUALIFIED TAXPAYERS PURSUANT TO THIS PART 5AND PART 4OF THIS ARTICLE36 EQUAL TO THE LESSER OF A TOTAL FACE VALUE OF UP TO ONE HUNDRED TWENTY FIVE MILLION DOLLARS OR TOTAL SALES PROCEEDS OF UP TO ONE HUNDRED MILLION DOLLARS , PLUS ANY REASONABLEANDNECESSARYADMINISTRATIVE ,MONITORING ,ANDCLOSING COSTS.
(2) (a) THE DEPARTMENT IS AUTHORIZED TO ISSUE TAX CREDIT CERTIFICATES TO QUALIFIED TAXPAYERS PURSUANT TO THIS PART 5 AND PART 4 OF THIS ARTICL36 EQUAL TO THE LESSER OF A TOTAL FACE VALUE OF UP TO ONE HUNDRED TWENTY-FIVE MILLION DOLLARS OR TOTAL SALES PROCEEDS OF UP TO ONE HUNDRED MILLION DOLLARS, PLUS ANY REASONABLEANDNECESSARY ADMINISTRATIVE, MONITORING, AND CLOSING COSTS.
(b) THEDEPARTMENTMAYCONTRACTWITHANINDEPENDENTTHIRD PARTYTOCONDUCTORCONSULTONABIDDINGPROCESSAMONGQUALIFIED TAXPAYERS TO PURCHASE THE TAX CREDITS .
(b) THE DEPARTMENTMAY CONTRACT WITH AN INDEPENDENTTHIRD PARTY TO CONDUCT OR CONSULT ON A BIDDING PROCESS AMONG QUALIFIED TAXPAYERS TO PURCHASE THE TAX CREDITS.
(c) THE DEPARTMENT SHALL CONSULT WITH C CORPORATIONS IN ADVANCEOFISSUINGANYTAXCREDITSINACCORDANCEWITHTHISSECTION .
(c) THE DEPARTMENT SHALL CONSULT WITH C CORPORATIONS IN ADVANCEOF ISSUING ANY TAX CREDITS IN ACCORDANCE WITH THIS SECTION.
(3) A CCORPORATION AUTHORIZED TO DO BUSINESS IN C OLORADO SEEKING TO PURCHASE TAX CREDITS MUST APPLY TO THE DEPARTMENT IN THE MANNER PRESCRIBED BY THE DEPARTMENT .
(3) A C CORPORATION AUTHORIZED TO DO BUSINESS IN COLORADO SEEKING TO PURCHASE TAX CREDITS MUST APPLY TO THE DEPARTMENT IN THE MANNER PRESCRIBED BY THE DEPARTMENT.
PAGE 12-HOUSE BILL 25B-1004 (4) U SING PROCEDURES ADOPTED BY THE DEPARTMENT OR , IF APPLICABLE BYANINDEPENDENTTHIRDPARTY ,EACH C CORPORATIONTHAT SUBMITSANAPPLICATIONSHALLMAKEATIMELYANDIRREVOCABLEOFFER , CONTINGENT ONLY ON THE DEPARTMENT 'S ISSUANCE TO THE C CORPORATION OF THE TAX CREDIT CERTIFICATES , TO MAKE A SPECIFIED PURCHASEPAYMENTAMOUNTTOTHEDEPARTMENTONDATESSPECIFIEDBY THE DEPARTMENT ,WHICH MUST NOT BURDEN ANY SINGLE TAX YEAR .
PAGE 12-HOUSE BILL 25B-1004 (4) USING PROCEDURES ADOPTED BY THE DEPARTMENT OR, IF APPLICABLE, BYAN INDEPENDENTTHIRD PARTY, EACH C CORPORATIONTHAT SUBMITS AN APPLICATION SHALL MAKE ATIMELY AND IRREVOCABLE OFFER, CONTINGENT ONLY ON THE DEPARTMENT'S ISSUANCE TO THE C CORPORATION OF THE TAX CREDIT CERTIFICATES, TO MAKE A SPECIFIED PURCHASE PAYMENTAMOUNT TO THE DEPARTMENTON DATES SPECIFIED BY THE DEPARTMENT, WHICH MUST NOT BURDEN ANY SINGLE TAX YEAR.
HE OFFER MUST INCLUDE :
THE OFFER MUST INCLUDE:
(a) THE REQUESTED AMOUNT OF TAX CREDITS ,WHICH MUST NOT BE LESS THAN ANY MINIMUM AMOUNT ESTABLISHED IN PROCEDURES BY THE DEPARTMENT OR ,IF APPLICABL,THE INDEPENDENT THIRD PARTY ;
(a) THE REQUESTED AMOUNT OFTAX CREDITS, WHICH MUST NOT BE LESS THAN ANY MINIMUM AMOUNT ESTABLISHED IN PROCEDURES BY THE DEPARTMENT OR, IF APPLICABLE, THE INDEPENDENT THIRD PARTY;
(b) THE QUALIFIED TAXPAYER S PROPOSED TAX CREDIT PURCHASE AMOUNT FOR EACH TAX CREDIT DOLLAR REQUESTED .
(b) THE QUALIFIED TAXPAYER'S PROPOSED TAX CREDIT PURCHASE AMOUNT FOR EACH TAX CREDIT DOLLAR REQUESTED.
T HE MINIMUM PROPOSED TAX CREDIT PURCHASE AMOUNT MUST BE THE GREATER OF EITHER:
THE MINIMUM PROPOSED TAX CREDIT PURCHASE AMOUNT MUST BE THE GREATER OF EITHER:
(I) THE PERCENTAGE OF THE REQUESTED DOLLAR AMOUNT OF TAX CREDITS THAT THE DEPARTMENT AND ,IF APPLICABLE,THE INDEPENDENT THIRDPARTYDETERMINESTOBECONSISTENTWITHMARKETCONDITIONSAS OF THE OFFER DATE;OR (II) EIGHTY PERCENT OF THE REQUESTED DOLLAR AMOUNT OF TAX CREDITS;AND (c) ANYOTHERINFORMATIONTHEDEPARTMENTOR ,IFAPPLICABLE , THE INDEPENDENT THIRD PARTY REQUIRES .
(I) THE PERCENTAGE OF THE REQUESTED DOLLAR AMOUNT OF TAX CREDITS THAT THE DEPARTMENT AND, IF APPLICABLE, THE INDEPENDENT THIRD PARTY DETERMINES TO BECONSISTENT WITH MARKET CONDITIONS AS OF THE OFFER DATE;
(5) THE DEPARTMENT SHALL PROVIDE WRITTEN NOTICE TO EACH C CORPORATIONTHATSUBMITSANAPPLICATIONINDICATINGWHETHERTHE C CORPORATION HAS BEEN APPROVED AS A PURCHASER OF TAX CREDITS AND , IF S,THE AMOUNT OF TAX CREDITS ALLOCATED AND THE DATE BY WHICH PAYMENT OF THE TAX CREDIT SALE PROCEEDS MUST BE MADE .
OR (II)EIGHTY PERCENT OF THE REQUESTED DOLLAR AMOUNT OF TAX CREDITS;
(6) O N RECEIPT OF PAYMENT OF THE SALE PROCEEDS , THE DEPARTMENT SHALL ISSUE TO EACH QUALIFIED TAXPAYER A TAX CREDIT CERTIFICATE.
AND (C) ANY OTHER INFORMATION THE DEPARTMENT OR, IF APPLICABLE, THE INDEPENDENT THIRD PARTY REQUIRES.
(5) THE DEPARTMENT SHALL PROVIDE WRITTEN NOTICE TO EACH C CORPORATION THAT SUBMITS AN APPLICATION INDICATING WHETHERTHE C CORPORATION HAS BEEN APPROVED AS A PURCHASER OFTAX CREDITS AND, IF SO, THE AMOUNT OFTAX CREDITS ALLOCATED AND THE DATE BY WHICH PAYMENT OF THE TAX CREDIT SALE PROCEEDS MUST BE MADE.
(6) ON RECEIPT OF PAYMENT OF THE SALE PROCEEDS, THE DEPARTMENT SHALL ISSUE TO EACH QUALIFIED TAXPAYER A TAX CREDIT CERTIFICATE.
(a) THE TOTAL AMOUNT OF INCOME TAX CREDITS THAT THE PAGE 13-HOUSE BILL 25B-1004 QUALIFIED TAXPAYER MAY CLAIM ;
(a) THE TOTAL AMOUNT OF INCOME TAX CREDITS THAT THE PAGE 13-HOUSE BILL 25B-1004 QUALIFIED TAXPAYER MAY CLAIM;
(b) THEAMOUNTTHATTHEQUALIFIEDTAXPAYERHASPAIDFORTHE ISSUANCE OF THE TAX CREDIT CERTIFICATES AND THE DATE OF THE PAYMENT ;
(b) THEAMOUNTTHATTHEQUALIFIEDTAXPAYER HAS PAID FOR THE ISSUANCE OF THE TAX CREDIT CERTIFICATES AND THE DATE OF THE PAYMENT;
(c) THE DATESONWHICHTHETAXCREDITSWILLBE AVAILABLE FOR USE BY THE QUALIFIED TAXPAYER ;
(C) THE DATES ON WHICH THE TAX CREDITS WILL BE AVAILABLE FOR USE BY THE QUALIFIED TAXPAYER;
(d) ANY PENALTIES OR OTHER REMEDIES FOR NONCOMPLIANCE ;
(d) ANY PENALTIES OR OTHER REMEDIES FOR NONCOMPLIANCE;
(e) THE PROCEDURES TO BE USED FOR TRANSFERRING OR ASSUMING THE TAX CREDITS IN ACCORDANCE WITH SUBSECTION (7)(e) OF THIS SECTION;
(e) THE PROCEDURES TO BE USED FOR TRANSFERRING OR ASSUMING THE TAX CREDITS IN ACCORDANCE WITH SUBSECTION (7)(e)OF THIS SECTION;
(f) THE SERIAL NUMBER OF THE TAX CREDIT CERTIFICATE;AND (g) A NY OTHER REQUIREMENTS DEEMED NECESSARY BY THE DEPARTMENT AS A CONDITION OF ISSUING THE TAX CREDIT CERTIFICATE.
(f) THE SERIAL NUMBER OF THE TAX CREDIT CERTIFICATE;
(7) (a) T HE DEPARTMENT SHALL NOT ISSUE A TAX CREDIT CERTIFICATETOANYQUALIFIEDTAXPAYERTHATFAILSTOPROVIDETHETAX CREDIT SALE PROCEEDS WITHIN THE TIME THE DEPARTMENT SPECIFIES.
AND (g) ANY OTHER REQUIREMENTS DEEMED NECESSARY BY THE DEPARTMENT AS A CONDITION OF ISSUING THE TAX CREDIT CERTIFICATE.
(b) AQUALIFIEDTAXPAYERTHATFAILSTOPROVIDETHETAXCREDIT SALEPROCEEDSWITHINTHETIMETHEDEPARTMENTSPECIFIESISSUBJECTTO APENALTYEQUALTOTENPERCENTOFTHEAMOUNTOFTHEPURCHASEPRICE THAT REMAINS UNPAID .
(7) (a) THE DEPARTMENT SHALL NOT ISSUE A TAX CREDIT CERTIFICATETO ANY QUALIFIED TAXPAYERTHAT FAILS TO PROVIDETHETAX CREDIT SALE PROCEEDS WITHIN THE TIME THE DEPARTMENT SPECIFIES.
HE PENALTY MUST BE PAID TO THE DEPARTMENT WITHIN THIRTY DAYS AFTER DEMAND .
(b) A QUALIFIED TAXPAYERTHAT FAILSTO PROVIDETHETAX CREDIT SALE PROCEEDS WITHIN THETIMETHE DEPARTMENT SPECIFIES IS SUBJECTTO A PENALTY EQUALTOTEN PERCENTOFTHE AMOUNTOFTHE PURCHASE PRICE THAT REMAINS UNPAID.
(c) THE DEPARTMENT MAY OFFER TO REALLOCATE THE DEFAULTED TAX CREDITS AMONG OTHER QUALIFIED TAXPAYERS SO THAT THE RESULT AFTERREALLOCATIONISTHESAMEASIFTHEINITIALALLOCATIONHADBEEN PERFORMED WITHOUT CONSIDERING THE TAX CREDIT ALLOCATION TO THE DEFAULTING QUALIFIED TAXPAYER .
THE PENALTY MUST BE PAID TO THE DEPARTMENT WITHIN THIRTY DAYS AFTER DEMAND.
(d) ITHEREALLOCATIONOFTAXCREDITSUNDERSUBSECTION (7)(c) OF THIS SECTION RESULTS IN THE PAYMENT BY ANOTHER QUALIFIED TAXPAYEROFTHEAMOUNTOFTAXCREDITSALEPROCEEDSNOTPAIDBYTHE DEFAULTING QUALIFIED TAXPAYER , THE DEPARTMENT MAY WAIVE THE PAGE 14-HOUSE BILL 25B-1004 PENALTY IMPOSED UNDER SUBSECTION (7)(b)OF THIS SECTION.
(c) THE DEPARTMENT MAY OFFER TO REALLOCATE THE DEFAULTED TAX CREDITS AMONG OTHER QUALIFIED TAXPAYERS SO THAT THE RESULT AFTER REALLOCATION ISTHE SAME AS IFTHE INITIALALLOCATION HAD BEEN PERFORMED WITHOUT CONSIDERING THE TAX CREDIT ALLOCATION TO THE DEFAULTING QUALIFIED TAXPAYER.
(e) A QUALIFIED TAXPAYER THAT FAILS TO PAY THE TAX CREDIT SALEPROCEEDSWITHINTHE TIME SPECIFIEDMAYAVOIDTHEIMPOSITIONOF THEPENALTYBYTRANSFERRINGTHEALLOCATIONOFTAXCREDITSTOANEW OR EXISTING QUALIFIED TAXPAYER WITHIN THIRTY DAYS AFTER THE DUE DATE OF THE DEFAULTED INSTALLMENT .
(d) lFTHE REALLOCATION OFTAX CREDITS UNDER SUBSECTION (7)(c) OF THIS SECTION RESULTS IN THE PAYMENT BY ANOTHER QUALIFIED TAXPAYEROFTHEAMOUNTOFTAXCREDITSALEPROCEEDSNOTPAIDBYTHE DEFAULTING QUALIFIED TAXPAYER, THE DEPARTMENT MAY WAIVE THE PAGE 14-HOUSE BILL 25B-1004 PENALTY IMPOSED UNDER SUBSECTION (7)(b) OF THIS SECTION.
ANY TRANSFEREE OF AN ALLOCATION OF TAX CREDITS OF A DEFAULTING QUALIFIED TAXPAYER UNDER THIS SUBSECTION (7)SHALL AGREE TO PAY THE TAX CREDIT SALE PROCEEDS WITHIN FIVE DAYS AFTER THE DATE OF THE TRANSFER.
(e) A QUALIFIED TAXPAYER THAT FAILS TO PAY THE TAX CREDIT SALE PROCEEDS WITHIN THE TIME SPECIFIED MAY AVOID THE IMPOSITION OF THE PENALTY BYTRANSFERRINGTHEALLOCATION OFTAX CREDITS TO ANEW OR EXISTING QUALIFIED TAXPAYER WITHIN THIRTY DAYS AFTER THE DUE DATE OF THE DEFAULTED INSTALLMENT.
(8) T HE TAX CREDIT SALE PROCEEDS PROVIDED BY A QUALIFIED TAXPAYER IN RETURN FOR A TAX CREDIT CERTIFICATE MUST BE DEPOSITED IN THE TAX CREDIT SALE PROCEEDS CASH FUND CREATED IN SECTION 24-36-405 (1).
ANY TRANSFEREE OF AN ALLOCATION OF TAX CREDITS OF A DEFAULTING QUALIFIED TAXPAYER UNDER THIS SUBSECTION (7) SHALL AGREE TO PAY THE TAX CREDIT SALE PROCEEDS WITHIN FIVE DAYS AFTER THE DATE OF THE TRANSFER.
(9) (a) THE DEPARTMENT SHALL PROVIDE ,WITHIN THIRTY DAYS AFTERTHECLOSEOFTHEFISCALYEAR ,ADATAFILETOTHEDEPARTMENTOF REVENUE FOR EACH FISCAL YEAR IN WHICH IT ISSUES TAX CREDIT CERTIFICATES PURSUANT TO THIS PART5.
(8) THE TAX CREDIT SALE PROCEEDS PROVIDED BY A QUALIFIED TAXPAYER IN RETURN FOR ATAX CREDIT CERTIFICATE MUST BE DEPOSITED IN THE TAX CREDIT SALE PROCEEDS CASH FUND CREATED IN SECTION 24-36-405 (1).
(9) (a) THE DEPARTMENT SHALL PROVIDE, WITHIN THIRTY DAYS AFTER THE CLOSE OF THE FISCAL YEAR, A DATA FILETO THE DEPARTMENTOF REVENUE FOR EACH FISCAL YEAR IN WHICH IT ISSUES TAX CREDIT CERTIFICATES PURSUANT TO THIS PART 5.
(I) TENAMEANDFEDERALEMPLOYERIDENTIFICATIONNUMBEROF EACH QUALIFIED TAXPAYER TO WHICH THE DEPARTMENT ISSUED A TAX CREDIT CERTIFICATE;
(I)THE NAME AND FEDERAL EMPLOYER IDENTIFICATION NUMBER OF EACH QUALIFIED TAXPAYER TO WHICH THE DEPARTMENT ISSUED A TAX CREDIT CERTIFICATE;
(II) THE TOTAL AMOUNT OF THE TAX CREDIT ALLOCATED TO THE QUALIFIED TAXPAYER ;AND (III) HE SERIAL NUMBER OF THE TAX CREDIT CERTIFICATE ISSUED TO THE QUALIFIED TAXPAYER .
(II) THE TOTAL AMOUNT OF THE TAX CREDIT ALLOCATED TO THE QUALIFIED TAXPAYER;
(b) T HE DEPARTMENT SHALL MAINTAIN RECORDS OF EACH TAX CREDIT CERTIFICATE ISSUED , TRANSFERRED , OR ASSUMED THAT ARE SUFFICIENT TO ALLOW THE DEPARTMENT OF REVENUE TO VERIFY THE ISSUANCE AND OWNERSHIP OF THE CREDIT .
AND (III)THE SERIAL NUMBER OF THE TAX CREDIT CERTIFICATE ISSUED TO THE QUALIFIED TAXPAYER.
THE DEPARTMENT SHALL PROVIDE THE RECORDS TO THE OFFICE OF THE STATE AUDITOR UPON REQUEST SO THAT THE STATE AUDITOR CANEVALUATE THE EFFECTIVENESS OFTHETAXCREDITSINACCORDANCEWITHSECTIONS 24-36-501(2)(b)AND 39-21-305.
(b) THE DEPARTMENT SHALL MAINTAIN RECORDS OF EACH TAX CREDIT CERTIFICATE ISSUED, TRANSFERRED, OR ASSUMED THAT ARE SUFFICIENT TO ALLOW THE DEPARTMENT OF REVENUE TO VERIFY THE ISSUANCE AND OWNERSHIP OF THE CREDIT.
PAGE 15-HOUSE BILL 25B-1004 (10) THEDEPARTMENTMAYPAYANINDEPENDENTTHIRDPARTYAND ANY CONSULTANTS REASONABLE AND NECESSARY ADMINISTRATIVE , MONITORING ,ANDCLOSINGCOSTSUSING THE PROCEEDS FROM THE SALE OF TAX CREDITS .
THE DEPARTMENT SHALL PROVIDE THE RECORDS TO THE OFFICE OF THE STATE AUDITOR UPON REQUEST SO THAT THE STATE AUDITOR CAN EVALUATE THE EFFECTIVENESS OFTHETAXCREDITS IN ACCORDANCE WITH SECTIONS 24-36-501 (2)(b) AND 39-21-305.
PA G E 15-H O U SEBILL 25B-1004 (10) THE DEPARTMENTMAY PAY AN INDEPENDENTTHIRD PARTY AND ANY CONSULTANTS REASONABLE AND NECESSARY ADMINISTRATIVE, MONITORING, AND CLOSING COSTS USING THE PROCEEDS FROM THE SALE OF TAX CREDITS.
(1) FOR A TAX CREDIT CERTIFICATE ISSUED IN FISCAL YEAR 2025-26,THE DEPARTMENT ,INCONSULTATIONWITHTHEOFFICEOFSTATEPLANNINGAND BUDGETING PRIORTOTHESALE ,MAYDETERMINETHETAXYEARSINWHICH THE QUALIFIED TAXPAYER MAY CLAIM THE QUALIFIED TAXPAYER S TAX CREDIT AGAINST THE QUALIFIED TAXPAYER S INCOME TAX LIABILITY.
(1) FOR A TAX CREDIT CERTIFICATE ISSUED IN FISCAL YEAR 2025-26, THE DEPARTMENT, IN CONSULTATION WITH THE OFFICE OF STATE PLANNING AND BUDGETING, PRIORTO THE SALE, MAY DETERMINE THE TAX YEARS IN WHICH THE QUALIFIED TAXPAYER MAY CLAIM THE QUALIFIED TAXPAYER'S TAX CREDIT AGAINST THE QUALIFIED TAXPAYER'S INCOME TAX LIABILITY.
(2) FOR THE TAX YEAR SPECIFIED IN THE TAX CREDIT CERTIFICATE ISSUED PURSUANT TO SECTION 24-34-503 (6),THE QUALIFIED TAXPAYER MAY CLAIM THE AMOUNT OF THE TAX CREDIT AGAINST THE QUALIFIED TAXPAYER S INCOME TAX LIABILITY .F THE AMOUNT OF THE TAX CREDIT EXCEEDSTHEQUALIFIEDTAXPAYER SACTUALTAXLIABILITYFORTHATTAX YEAR ,THE EXCESS IS NOT REFUNDED TO THE QUALIFIED TAXPAYER .
(2) FOR THE TAX YEAR SPECIFIED IN THE TAX CREDIT CERTIFICATE ISSUED PURSUANT TO SECTION 24-34-503 (6), THE QUALIFIED TAXPAYER MAY CLAIM THE AMOUNT OF THE TAX CREDIT AGAINST THE QUALIFIED TAXPAYER'S INCOME TAX LIABILITY.
HE QUALIFIED TAXPAYER MAY CARRY FORWARD AND APPLY THE UNUSED TAX CREDIT AGAINST THE INCOME TAX LIABILITY FOR ANY SUCCEEDING TAX YEAR ;EXCEPT THAT THE TAX CREDIT MAY NOT BE CARRIED FORWARD TO A TAX YEAR THAT BEGINS AFTER DECEMBER 31,2033.T HE TAXPAYER SHALL APPLY THE CARRY FORWARD CREDIT AGAINST THE INCOME TAX LIABILITY FOR THE EARLIEST OF THE INCOME TAX YEARS POSSIBLE .
IF THE AMOUNT OF THE TAX CREDIT EXCEEDS THE QUALIFIEDTAXPAYER'S ACTUALTAX LIABILITY FORTHATTAX YEAR, THE EXCESS IS NOT REFUNDED TO THE QUALIFIED TAXPAYER.
ANY AMOUNT OF THE TAXCREDIT THAT ISNOTUSEDAFTERTHISPERIODISNOT REFUNDABLE .
THE QUALIFIED TAXPAYER MAY CARRY FORWARD AND APPLY THE UNUSED TAX CREDIT AGAINST THE INCOME TAX LIABILITY FOR ANY SUCCEEDING TAX YEAR;
(3) A QUALIFIED TAXPAYER CLAIMING ACREDIT UNDERTHISPART 5 SHALL SUBMIT THE TAX CREDIT CERTIFICATE WITH ITS TAX RETURN .
EXCEPT THAT THE TAX CREDIT MAY NOT BE CARRIED FORWARD TO A TAX YEAR THAT BEGINS AFTER DECEMBER 31, 2033.
THE TAXPAYER SHALL APPLY THE CARRY FORWARD CREDIT AGAINST THE INCOME TAX LIABILITY FOR THE EARLIEST OF THE INCOME TAX YEARS POSSIBLE.
ANY AMOUNT OF THE TAX CREDIT THAT ISNOT USED AFTER THIS PERIOD ISNOT REFUNDABLE.
(3) A QUALIFIED TAXPAYER CLAIMING A CREDIT UNDER THIS PART 5 SHALL SUBMIT THE TAX CREDIT CERTIFICATE WITH ITS TAX RETURN.
THIS PART 5 IS REPEALED,EFFECTIVE D ECEMBER 31, 2040.
THIS PART 5 IS REPEALED, EFFECTIVE DECEMBER 31, 2040.
For the 2025-26 state fiscal year, $3,173,500isappropriatedtothedepartmentoftreasury.Thisappropriation is fromthe tax credit sale proceeds cash fund created in section 24-36-405, C.R.S.Toimplementthisact,thedepartmentmayusethisappropriationfor tax credit administration.
For the 2025-26 state fiscal year, $3,173,500 is appropriated to the department o ftreasury.
This appropriation is from the tax credit sale proceeds cash fund created in section 24-36-405, C.R.S.To implement this act, the department may use this appropriation for tax credit administration.
The general assembly finds, determines, and declares that this act is necessary for the immediate PAGE 16-HOUSE BILL 25B-1004 preservation of the public peace, health, or safety or for appropriations for the support and maintenance of the departments of the state and state institutions.
The general assembly finds, determines, and declares that this act is necessary for the immediate PAGE 16-HOUSE B IL L 25B-1004 preservation ofthe public peace, health, or safety or for appropriations for the support and maintenance of the departments of the state and state institutions.
____________________________ ____________________________ Julie McCluskie James Rashad Coleman, Sr.
Ju~ James Rashad Coleman, Sr.
SPEAKER OF THE HOUSE PRESIDENT OF OF REPRESENTATIVES THE SENATE ____________________________ ____________________________ Connor Randall Esther van Mourik ACTING CHIEF CLERK OF THE HOUSE SECRETARY OF OF REPRESENTATIVES THE SENATE APPROVED________________________________________ (Date and Time) _________________________________________ Jared S.
SPEAKER OF THE HOUSE PRESIDENT OF OF REPRESENTATIVES THE SENATE Connor Randall Esther van Mourik ACTING CHIEF CLERK OF THE HOUSE SECRETARY OF OF REPRESENTATIVES THE SENATE APPROVED oY\ Tov~d ~ ¥tvau~-+2 '1" 2f2-S -~ ct~ 5~h""I (Date and Time) PAGE 17-HOUSE BILL 25B-1004
Polis GOVERNOR OF THE STATE OF COLORADO PAGE 17-HOUSE BILL 25B-1004
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Action History

  1. Governor Signed

  2. Signed by the Speaker of the House

  3. Signed by the President of the Senate

  4. Sent to the Governor

  5. Senate Third Reading Passed - No Amendments

  6. House Considered Senate Amendments - Result was to Concur - Repass

  7. Senate Second Reading Special Order - Passed with Amendments - Committee

  8. Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole

  9. Senate Second Reading Special Order - Laid Over to 08/25/2025 - No Amendments

  10. House Third Reading Passed - No Amendments

  11. Introduced In Senate - Assigned to Appropriations

  12. House Second Reading Special Order - Passed with Amendments - Committee, Floor

  13. Introduced In House - Assigned to Appropriations

  14. House Committee on Appropriations Refer Amended to House Committee of the Whole

Sponsors

Sponsorship breakdown

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4 sponsors · 32 co-sponsors · 65 not signed on · 15 voted No

Sponsors (4)

Co-sponsors (32)

Not signed on (65)

65 members have not signed on to this bill.

Show all 65 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

BILL

Passed 22 Yea · 12 Nay · 1 Other
Party YeaNayPresentNot Voting
Democrat 18100
Republican 0901
Unaffiliated 4200
Total 221201
% of votes cast 63%34%0%3%
How each member voted (35)
Member Party Vote
Gonzales J. — Yea
Pelton B. — Nay
Pelton R. — Nay
President — Yea
Michaelson Jenet — Yea
Winter F. — Yea
Cathy Kipp Democrat Yea
Chris Kolker Democrat Yea
Dylan Roberts Democrat Yea
Iman Jodeh Democrat Yea
Janice Marchman Democrat Yea
Jeff Bridges Democrat Yea
Jessie Danielson Democrat Yea
Judy Amabile Democrat Yea
Katie Wallace Democrat Yea
Kyle Mullica Democrat Yea
Lindsey Daugherty Democrat Yea
Lisa Cutter Democrat Yea
Marc Snyder Democrat Yea
Matt Ball Democrat Yea
Mike Weissman Democrat Yea
Nick Hinrichsen Democrat Nay
Robert Rodriguez Democrat Yea
Tom Sullivan Democrat Yea
Tony Exum Democrat Yea
Barbara Kirkmeyer Republican Nay
Cleave Simpson Republican Nay
Janice Rich Republican Nay
John Carson Republican Nay
Larry Liston Republican Not Voting
Lisa Frizell Republican Nay
Lynda Zamora Wilson Republican Nay
Marc Catlin Republican Nay
Mark Baisley Republican Nay
Scott Bright Republican Nay

Official roll call →

Refer House Bill 25B-1004, as amended, to the Committee of the Whole.

Passed 7 Yea · 4 Nay
Party YeaNayPresentNot Voting
Republican 0400
Democrat 7000
Total 7400
% of votes cast 64%36%0%0%
How each member voted (11)
Member Party Vote
Andrew Boesenecker Democrat Yea
Brianna Titone Democrat Yea
Elizabeth Velasco Democrat Yea
Emily Sirota Democrat Yea
Junie Joseph Democrat Yea
Karen McCormick Democrat Yea
Yara Zokaie Democrat Yea
Carlos Barron Republican Nay
Dan Woog Republican Nay
Rick Taggart Republican Nay
Ryan Gonzalez Republican Nay

Official roll call →

Subjects

taxation
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Frequently asked questions

What does HB 1004 do?
The act authorizes the department of the treasury (department) to sell insurance premium tax credits to insurance companies that incur state premium tax liability (premium tax credit) and to C corporations that incur state income tax liability (corporate tax credit). The premium tax credit and the corporate tax credit (tax credits) may be offered for sale to insurance companies and C corporations by the department, subject to procedures adopted by the department. The department may contract or consult with an independent third party to manage the sale process, and if it does so, the independent third party must adopt the sale procedures.A qualified taxpayer who purchases a tax credit may claim the tax credit against its premium tax or income tax liability (tax liability), as applicable. The department, in consultation with the office of state planning and budgeting, prior to the sale of a tax credit, may determine the calendar years in which the qualified taxpayer may claim the qualified taxpayer's tax credit against the qualified taxpayer's tax liability. The amount of the tax credit claimed cannot exceed the taxpayer's tax liability for a given year and a tax credit is not refundable. The unused amount carries forward and may be claimed in subsequent years; except that a tax credit cannot be claimed for a tax liability incurred in a taxable year that begins after December 31, 2033. Insurance companies with a qualified home office or regional home office in the state have first priority to purchase premium tax credits.In fiscal year 2025-26, the department is authorized to issue tax credit certificates to qualified taxpayers equal to the lesser of a total face value of up to $125 million or total sales proceeds of up to $100 million, plus any reasonable and necessary administrative, monitoring, and closing costs of the department (closing costs). The minimum proposed tax credit purchase amount must be the greater of either the amount that an independent third party determines to be consistent with market conditions or 80% of the requested dollar amount of tax credits.The act creates the tax credit proceeds cash fund (fund). The proceeds from the issuance of tax credits must be deposited in the fund. Subject to annual appropriation, the department may expend money from the fund for any closing costs associated with implementing and administering the act. Subject to annual appropriation, the department of revenue may expend money from the fund for direct and indirect costs associated with implementing and administering the act. Each month, the state treasurer is required to credit the money generated by the issuance of tax credits to the fund. The department is required to transfer the money in the fund to the general fund, less any amounts used for expenses authorized by the act.For the 2025-26 state fiscal year, the act appropriates $3,173,500 to the department. The appropriation is from the fund and must be used for tax credit administration.APPROVED by Governor August 28, 2025EFFECTIVE August 28, 2025(Note: This summary applies to this bill as enacted.)
Who sponsors HB 1004?
HB 1004 is sponsored by M. Weissman, K. Wallace, T. Sullivan, C. Kipp, I. Jodeh, J. Gonzales, T. Exum, L. Cutter, J. Coleman, L. García, M. Snyder, J. Marchman, Sean Camacho (Democrat), Rebekah Stewart (Democrat), Jennifer Bacon (Democrat), Andrew Boesenecker (Democrat), Monica Duran (Democrat), Cecelia Espenoza (Democrat), Meg Froelich (Democrat), Lindsay Gilchrist (Democrat), Junie Joseph (Democrat), Sheila Lieder (Democrat), Mandy Lindsay (Democrat), Javier Mabrey (Democrat), Karen McCormick (Democrat), Emily Sirota (Democrat), Tammy Story (Democrat), Brianna Titone (Democrat), Jenny Willford (Democrat), Steven Woodrow (Democrat), Yara Zokaie (Democrat), Ty Winter (Republican), Lesley Smith (Democrat), Kyle Brown (Democrat), Julie McCluskie (Democrat), and Michaelson Jenet.
What is the current status of HB 1004?
This bill has been enacted into law. Introduced August 21, 2025. Enacted.
Where can I track HB 1004?
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