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HB23-1084

Continuation Of Military Retirement Benefit Deduction

Concerning the continuation of the income tax deduction for military retirement benefits.
Session:
2023 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

For income tax years commencing before January 1, 2024, the law allowed individuals younger than 55 years of age to subtract from federal taxable income for the purpose of determining state taxable income certain amounts received from military retirement benefits. The act extends the subtraction to income tax years commencing before January 1, 2029.

APPROVED by Governor June 5, 2023

EFFECTIVE August 7, 2023

NOTE: This act was passed without a safety clause and takes effect 90 days after sine die.
(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. M. Bradfield, Rep. D. Ortiz
Sen. B. Gardner, Sen. R. Zenzinger

Sponsor

Co-sponsor

Rep. R. Armagost, Rep. S. Bird, Rep. R. Bockenfeld, Rep. A. Boesenecker, Rep. B. Bradley, Rep. K. Brown, Rep. M. Duran, Rep. R. English, Rep. L. Frizell, Rep. M. Froelich, Rep. E. Hamrick, Rep. L. Herod, Rep. R. Holtorf, Rep. I. Jodeh, Rep. S. Lieder, Rep. M. Lindsay, Rep. W. Lindstedt, Rep. M. Lukens, Rep. M. Lynch, Rep. J. Mabrey, Rep. T. Mauro, Rep. J. McCluskie, Rep. B. McLachlan, Rep. D. Michaelson Jenet, Rep. R. Pugliese, Rep. N. Ricks, Rep. S. Sharbini, Rep. T. Story, Rep. B. Titone, Rep. A. Valdez, Rep. R. Weinberg, Rep. M. Weissman, Rep. M. Young
Sen. J. Bridges, Sen. L. Cutter, Sen. J. Danielson, Sen. T. Exum, Sen. S. Fenberg, Sen. J. Ginal, Sen. J. Gonzales, Sen. C. Hansen, Sen. N. Hinrichsen, Sen. S. Jaquez Lewis, Sen. B. Kirkmeyer, Sen. C. Kolker, Sen. L. Liston, Sen. J. Marchman, Sen. D. Moreno, Sen. B. Pelton, Sen. R. Pelton, Sen. K. Priola, Sen. D. Roberts, Sen. C. Simpson, Sen. J. Smallwood, Sen. T. Sullivan, Sen. K. Van Winkle, Sen. P. Will, Sen. F. Winter

Email addresses for the Colorado legislature have changed from the @state.co.us domain to the @coleg.gov domain on December 1, 2022. Details
The effective date for bills enacted without a safety clause (unless otherwise specified) is August 7, 2023. Details
The 2023 Ballot Information Booklet (Blue Book) is now available. Details