Skip to main content
Colorado General AssemblyToggle Main Menu
Agency NameToggle Agency Menu
HB19-1097

General Fund Reductions

Concerning general fund reductions, and, in connection therewith, reducing the income tax rate and requiring reductions in general fund appropriations for certain principal departments.
Session:
2019 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

For income tax years commencing on and after January 1, 2019, the bill:

  • Reduces both the individual and the corporate state income tax rate from 4.63% to 4.25%; and
  • Reduces the state alternative minimum tax by 0.38%.

The bill also requires the state controller to:

  • Proportionally void general fund appropriations for each principal department, except for the department of education, for the 2018-19 state fiscal year in an amount totaling $374.3 million;
  • For the 2019-20 state fiscal year, to proportionally reduce the general fund appropriations for each principal department, except for the department of education, as set forth in the 2019 annual general appropriations act in an amount totaling $760.7 million.
    (Note: This summary applies to this bill as introduced.)

Status

Introduced
Lost

Menu

Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. P. Neville

Sponsor

Rep. M. Baisley, Rep. P. Buck, Rep. S. Humphrey, Rep. K. Ransom, Rep. L. Saine, Rep. K. Van Winkle

Co-sponsor

The House and Senate are temporarily adjourned.  The building is closed to the public.

COVID-19 Resources

Written Testimony and Witness Sign-up