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HB23-1016

Temp Tax Credit For Public Service Retirees

Concerning the creation of an income tax credit for qualifying retirees of Colorado public pensions.
Session:
2023 Regular Session
Subjects:
Fiscal Policy & Taxes
State Government
Bill Summary

Pension Review Commission. The bill creates an income tax credit that is available for income tax years commencing on or after January 1, 2023, but prior to January 1, 2025, for a qualifying public service retiree, which means a full-time Colorado resident individual who is:

  • 55 years of age or older at the end of the 2023 or 2024 income tax year; and
  • A retiree of a Colorado public pension plan administered pursuant to the Colorado Revised Statutes or a retiree of a public pension plan administered by a local government of the state of Colorado.
    (Note: This summary applies to this bill as introduced.)

Status

Introduced
Lost

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. S. Bird, Rep. E. Sirota
Sen. C. Hansen, Sen. C. Kolker

Sponsor

Co-sponsor

The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details