HB 26-1362

House Bill 26-1362 is a Colorado law that plans to end funding for certain tax credits aimed at reducing carbon emissions on July 1, 2027. This bill will only take effect if another related bill (House Bill 26-1405) also becomes law, which would transfer any leftover funds from the decarbonization program to the state’s general fund by June 30, 2027. The bill affects how money is allocated for environmental programs and could impact businesses and individuals who rely on these tax credits to reduce their carbon footprint. Since it has been signed into law, the bill will proceed as planned unless there are further legislative changes.

Official Summary

Joint Budget Committee. On July 1, 2027, the bill repeals the decarbonization tax credits administration cash fund (fund), which is subject to annual appropriation to the department of revenue and the Colorado energy office to pay for the direct and indirect costs associated with the implementation and administration of various decarbonization tax credits. The bill also makes conforming amendments.     The bill takes effect only if House Bill 26-1405 becomes law, which transfers the unexpended and unencumbered balance of the fund to the general fund on June 30, 2027.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

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