HB 23-1251

House Bill 23-1251 removes outdated tax provisions from Colorado’s laws. It gets rid of old definitions and expired tax credits for electric vehicles, hiring people with developmental disabilities, and certain business types that are no longer relevant. This bill affects businesses and individuals who might have used these now-expired tax benefits in the past. The governor signed it into law on June 7, 2023, and it will go into effect on August 7, 2023.

Official Summary

The act repeals obsolete provisions in title 39 as follows: To conform with the expiration of the tax credit previously allowed for category 2 and category 3 motor vehicles, the act repeals the tax credit and the definitions of category 2 and category 3 motor vehicles; The act repeals the obsolete definition of "Colorado company, limited liability company, or partnership" in the law regarding tax modifications for net capital gains; To conform with the expiration of the tax credit previously allowed for employers who hired a person with a developmental disability, the act repeals the tax credit; and The act repeals a provision relating to an exemption for tax paid by an independent contractor under certain conditions that was only applicable before July 1, 1979. APPROVED by Governor June 7, 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.)

Votes