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SB24-044

Public Employees' Retirement Association Retiree Refundable Income Tax Credit

Type Bill
Session 2024 Regular Session
Subjects
Fiscal Policy & Taxes

Concerning the creation of a refundable income tax credit for qualifying public employees' retirement association retirees, and, in connection therewith, making an appropriation.

Bill Summary:

Pension Review Commission. The bill creates a refundable income tax credit that is available for income tax years commencing on or after January 1, 2024, but prior to January 1, 2026, for a qualifying public employees' retirement association retiree, which means a full-time Colorado resident individual who:

  • Is a retiree of the public employees' retirement association;
  • Is 65 years of age or older at the end of the 2024 or 2025 income tax year; and
  • Has an annual a federal adjusted gross income of no more than $38,000 as a single filer or $76,000 as a joint filer.
(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Lost

Introduced

Lost

Related Documents & Information

Date Version Documents
03/13/2024 Reengrossed PDF
03/12/2024 Engrossed PDF
01/12/2024 Introduced PDF
Date Version Documents
03/08/2024 PA2 PDF
02/07/2024 PA1 PDF
Date Version Documents
08/02/2024 FN2 PDF
02/01/2024 FN1 PDF
Date Version Documents
03/06/2024 SA1 PDF
Activity Vote Documents
Activity Vote Documents
Refer Senate Bill 24-044 to the Committee on Appropriations. The motion passed on a vote of 6-5. Vote summary
Activity Vote Documents
Adopt amendment J.001 The motion passed without objection. Vote summary
Refer Senate Bill 24-044, as amended, to the Committee of the Whole. The motion passed on a vote of 6-3. Vote summary
Activity Vote Documents
Adopt amendment L.001 (Attachment A). The motion passed without objection. Vote summary
Adopt amendment L.002 (Attachment B). The motion passed without objection. Vote summary
Adopt amendment L.003 (Attachment C). The motion passed without objection. Vote summary
Refer Senate Bill 24-044, as amended, to the Committee on Appropriations. The motion passed on a vote of 5-2. Vote summary
Date Calendar Motion Vote Vote Document
03/13/2024 Third Reading BILL
24
AYE
11
NO
0
OTHER
Vote record
Date Amendment Number Committee/ Floor Hearing Status Documents
03/08/2024 J.001 SEN Appropriations Passed [*] PDF
02/06/2024 L.003 SEN Finance Passed [*] PDF
02/06/2024 L.002 SEN Finance Passed [*] PDF
02/06/2024 L.001 SEN Finance Passed [*] PDF
Date Location Action
05/14/2024 House House Committee on Appropriations Lay Over Unamended - Amendment(s) Failed
04/10/2024 House House Committee on Finance Refer Unamended to Appropriations
03/13/2024 House Introduced In House - Assigned to Finance
03/13/2024 Senate Senate Third Reading Passed - No Amendments
03/12/2024 Senate Senate Second Reading Passed with Amendments - Committee
03/08/2024 Senate Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole
02/06/2024 Senate Senate Committee on Finance Refer Amended to Appropriations
01/12/2024 Senate Introduced In Senate - Assigned to Finance