Sponsors: Rep. Tracy Kraft-Tharp (D-Arvada), Rep. Jim Wilson (R-Salida), Sen. Rollie Heath (D-Boulder), Sen. Chris Holbert (R-Parker)
Status: Introduced and assigned to the House Business Affairs and Labor and Finance committees on Jan. 29. The Business Affairs and Labor Committee referred an unamended version of the bill to the Finance Committee on Feb. 12. The Finance Committee referred an amended version of the bill to the Appropriations Committee on Feb. 26. The Appropriations Committee referred the unamended bill to the whole House on April 10. The House passed its three readings of the bill and the bill was introduced in the Senate on April 16. The Senate Finance Committee referred the unamended bill to the Appropriations Committee on April 21. The Appropriation Committee referred the bill to the whole Senate on April 24. The Senate passed the third reading of the bill on April 27.
What the act does: This bill reestablishes a sales and use tax refund for clean technology and medical device firms with 35 employees or less, according to the bill's fiscal note. The refund must be claimed between January 1 and April 1 in the year following when the sales taxes were paid. The refund is for sales taxes paid on equipment used for in the research and development of clean or medical technology and is limited to $50,000 per taxpayer per year.
How it affects your refund: This bill would reduce the average taxpayer refund by 3 cents for fiscal year 2015-16.
What's being said about this bill:
The National Law Review said on March 10 that this bill is likely to make it on to the governor's desk.
You want to know what is really going on these days, especially in Colorado. We can help you keep up. The Lookout is a free, daily email newsletter with news and happenings from all over Colorado. Sign up here and we will see you in the morning!