Sponsors: Rep. Pete Lee (D-Colorado Springs), Sen. Ray Scott (R-Grand Junction)
Status: Introduced and assigned to the House Finance Committee on March 4. The Finance Committee referred the amended bill to the Appropriations Committee on April 15. The Appropriations Committee referred the bill to the whole House on April 30, and they passed their second reading of the bill on the same day. The House passed its third reading on May 1 and the bill was introduced in the Senate finance and appropriations committees that day. The Finance Committee referred the bill to the Appropriations Committee on May 5. The Appropriations Committee killed the bill that day.
What the bill would have done: Currently, Colorado rewards landlords who prepare their properties for possible wildfires, a process known as wildfire mitigation. This bill would have changed the incentive from an income tax deduction to an income tax credit. The tax credit would allow a credit for 25 percent of the costs, up to $2,500.
How it would have affected your refund: This bill would have reduced the average taxpayer refund by at least a penny in fiscal year 2015-16.
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