CO HB 1062
died on adjournmentExpand Deduction for Retirement Benefits
Colorado · 2026 Regular Session · lower
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Quick answers
Did CO HB 1062 pass?
No. CO HB 1062 died when the 2026 Regular Session adjourned without final action on it. Bills that die this way are sometimes reintroduced in a later session. Latest recorded action (2026-01-14): Introduced In House - Assigned to Finance
What is CO HB 1062 about?
Current law allows any individual to deduct amounts, up to certain caps based on the individual's age, received as pensions or annuities from any source, to the extent included in federal adjusted gross income.Notwithstanding the caps on the deduction for amounts received as pensions or annuities from other sources, current law allows any individual who is 65 years old or older at the close of a taxable year to subtract the total amount of social security benefits that the individual received from the individual's federal taxable income, to the extent those benefits were included in federal taxable income, when determining the individual's state taxable income. This subtraction is also allowed to any individual who is 55 years old or older and has an adjusted gross income for the applicable tax year that is less than or equal to $75,000 if filing individually or $95,000 if filing jointly.For income tax years commencing on or after January 1, 2027, the bill removes all caps on the deduction for amounts received as pensions and annuities and allows any individual who is 55 years old or older, regardless of income, to subtract the total amount that the individual received as pension or annuity income from the individual's federal taxable income, to the extent that income was included in federal taxable income, when determining the individual's state taxable income.(Note: This summary applies to this bill as introduced.)
Who sponsors CO HB 1062?
R. Weinberg is the primary sponsor of CO HB 1062.
Description
Current law allows any individual to deduct amounts, up to certain caps based on the individual's age, received as pensions or annuities from any source, to the extent included in federal adjusted gross income.Notwithstanding the caps on the deduction for amounts received as pensions or annuities from other sources, current law allows any individual who is 65 years old or older at the close of a taxable year to subtract the total amount of social security benefits that the individual received from the individual's federal taxable income, to the extent those benefits were included in federal taxable income, when determining the individual's state taxable income. This subtraction is also allowed to any individual who is 55 years old or older and has an adjusted gross income for the applicable tax year that is less than or equal to $75,000 if filing individually or $95,000 if filing jointly.For income tax years commencing on or after January 1, 2027, the bill removes all caps on the deduction for amounts received as pensions and annuities and allows any individual who is 55 years old or older, regardless of income, to subtract the total amount that the individual received as pension or annuity income from the individual's federal taxable income, to the extent that income was included in federal taxable income, when determining the individual's state taxable income.(Note: This summary applies to this bill as introduced.)
- Introduced
- 2026-01-14
- Latest action
- 2026-01-14 — Introduced In House - Assigned to Finance
- Bill type
- bill
- Last updated
- —
Subjects
Sponsors
- R. Weinbergsponsor
Committees
Not provided by source.
Action timeline
Newest first
2026-02-09
House Committee on Finance Postpone Indefinitely
2026-01-14
Introduced In House - Assigned to Finance
introduction
Versions
Documents
Votes
Refer House Bill 26-1062 to the Committee on Appropriations.
2026-02-09 · fail · 0-0
Member-level votes (11)
- Max Brooks: yes
- Sean Camacho: no
- Ken DeGraaf: yes
- Lorena Garcia: no
- Ryan Gonzalez: yes
- Anthony Hartsook: yes
- Bob Marshall: no
- Rebekah Stewart: no
- Yara Zokaie: no
- Brianna Titone: no
- Steven Woodrow: no
Postpone House Bill 26-1062 indefinitely using a reversal of the previous roll call. There was no objection to the use of the reverse roll call, therefore, the bill was postponed indefinitely.
2026-02-09 · pass · 0-0
Member-level votes (11)
- Max Brooks: no
- Sean Camacho: yes
- Ken DeGraaf: no
- Lorena Garcia: yes
- Ryan Gonzalez: no
- Anthony Hartsook: no
- Bob Marshall: yes
- Rebekah Stewart: yes
- Yara Zokaie: yes
- Brianna Titone: yes
- Steven Woodrow: yes
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_api_sync, retrieved 2026-08-21T21:01:01.173542Z
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