CO HB 1221
died on adjournmentTax Expenditure Adjustments
Colorado · 2026 Regular Session · lower
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Quick answers
Did CO HB 1221 pass?
No. CO HB 1221 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 (2026-02-17): Introduced In House - Assigned to Finance
What is CO HB 1221 about?
The bill adjusts 3 2 existing tax expenditures. Section 2 of the bill limits the alternative minimum tax credit to income tax years commencing prior to January 1, 2026; Section 4 3 requires a corporation, for purposes of determining their state taxable income for state income tax years commencing on or after January 1, 2027, to add to their federal taxable income the amount, if any, that the taxpayer claimed as a deduction on the taxpayer's federal tax return pursuant to the employee remuneration deduction allowed pursuant to section 162 (m) of the internal revenue code; and Section 5 4 limits the period of time that net operating losses generated in income tax years commencing on or after January 1, 2027, can be carried forward from 20 years to 10 years and limits the amount of losses that may be claimed to 70% rather than 80%. Section 3 2 creates a new tax credit. The new tax credit allows taxpayers to claim a refundable tax credit, in addition to the child tax credit and the family affordability tax credit, in an amount determined by the amount and age of the taxpayer's children and the taxpayer's income. The total amount of the new tax credit is adjusted annually based on legislative council staff projections, such that the total amount of the new tax credit claimed in an income tax year is projected to be the same as the amount of revenue raised in sections 2, 4, 3 and 5 4 .(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
Who sponsors CO HB 1221?
K. Wallace, J. Amabile, Y. Zokaie and 1 others are the primary sponsors of CO HB 1221, joined by 12 cosponsors.
Description
The bill adjusts 3 2 existing tax expenditures. Section 2 of the bill limits the alternative minimum tax credit to income tax years commencing prior to January 1, 2026; Section 4 3 requires a corporation, for purposes of determining their state taxable income for state income tax years commencing on or after January 1, 2027, to add to their federal taxable income the amount, if any, that the taxpayer claimed as a deduction on the taxpayer's federal tax return pursuant to the employee remuneration deduction allowed pursuant to section 162 (m) of the internal revenue code; and Section 5 4 limits the period of time that net operating losses generated in income tax years commencing on or after January 1, 2027, can be carried forward from 20 years to 10 years and limits the amount of losses that may be claimed to 70% rather than 80%. Section 3 2 creates a new tax credit. The new tax credit allows taxpayers to claim a refundable tax credit, in addition to the child tax credit and the family affordability tax credit, in an amount determined by the amount and age of the taxpayer's children and the taxpayer's income. The total amount of the new tax credit is adjusted annually based on legislative council staff projections, such that the total amount of the new tax credit claimed in an income tax year is projected to be the same as the amount of revenue raised in sections 2, 4, 3 and 5 4 .(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
- Introduced
- 2026-02-17
- Latest action
- 2026-02-17 — Introduced In House - Assigned to Finance
- Bill type
- bill
- Last updated
- —
Subjects
Sponsors
- K. Wallacesponsor
- J. Amabilesponsor
- Y. Zokaiesponsor
- E. Sirotasponsor
- K. McCormickcosponsor
- J. Mabreycosponsor
- M. Lindsaycosponsor
- S. Liedercosponsor
- S. Woodrowcosponsor
- K. Browncosponsor
- A. Boeseneckercosponsor
- J. Baconcosponsor
- C. Cliffordcosponsor
- L. Smithcosponsor
- M. Rutinelcosponsor
- K. Nguyencosponsor
Committees
Not provided by source.
Action timeline
Newest first
2026-05-11
Senate Committee on Finance Postpone Indefinitely
2026-05-04
House Third Reading Passed - No Amendments
passage,reading-3
2026-05-04
Introduced In Senate - Assigned to Finance
introduction
2026-05-01
House Second Reading Special Order - Passed with Amendments - Committee, Floor
2026-04-30
House Second Reading Laid Over Daily - No Amendments
2026-04-28
House Committee on Appropriations Refer Unamended to House Committee of the Whole
committee-passage,referral-committee
2026-03-09
House Committee on Finance Refer Amended to Appropriations
referral-committee
2026-02-17
Introduced In House - Assigned to Finance
introduction
Versions
Documents
Votes
Adopt amendment L.002
2026-03-09 · pass · 0-0
Member-level votes (1)
- Ken DeGraaf: excused
Refer House Bill 26-1221, as amended, to the Committee on Appropriations.
2026-03-09 · pass · 0-0
Member-level votes (11)
- Max Brooks: no
- Sean Camacho: yes
- Ken DeGraaf: excused
- Lorena Garcia: yes
- Ryan Gonzalez: no
- Anthony Hartsook: no
- Bob Marshall: no
- Rebekah Stewart: yes
- Yara Zokaie: yes
- Brianna Titone: yes
- Steven Woodrow: yes
Adopt amendment L.003
2026-03-09 · pass · 0-0
Member-level votes (1)
- Ken DeGraaf: excused
Refer House Bill 26-1221 to the Committee of the Whole.
2026-04-28 · pass · 0-0
Member-level votes (11)
- Andrew Boesenecker: yes
- Scott Bottoms: no
- Junie Joseph: yes
- Karen McCormick: yes
- Chris Richardson: no
- Rick Taggart: no
- Brianna Titone: yes
- Emily Sirota: yes
- Kyle Brown: yes
- Elizabeth Velasco: yes
- Yara Zokaie: yes
BILL
2026-05-04 · pass · 0-0
Member-level votes (65)
- Bacon: yes
- Barron: no
- Boesenecker: yes
- Bottoms: no
- Bradfield: no
- Bradley: no
- Brooks: no
- Brown: yes
- Caldwell: no
- Camacho: yes
- Carter: yes
- Clifford: yes
- DeGraaf: no
- Duran: yes
- English: yes
- Espenoza: yes
- Feret: yes
- Flanell: no
- Froelich: yes
- Garcia: yes
- Garcia Sander: no
- Gilchrist: yes
- Goldstein: yes
- Gonzalez R.: no
- Hamrick: yes
- Hartsook: no
- Jackson: yes
- Johnson: no
- Joseph: yes
- Keltie: no
- Lieder: yes
- Lindsay: yes
- Luck: no
- Lukens: yes
- Mabrey: yes
- Marshall: no
- Martinez: yes
- Mauro: yes
- McCormick: yes
- Nguyen: yes
- Paschal: yes
- Phillips: yes
- Richardson: no
- Ricks: yes
- Rutinel: yes
- Rydin: yes
- Sirota: yes
- Slaugh: no
- Smith: yes
- Soper: no
- Stewart K.: yes
- Stewart R.: yes
- Story: yes
- Suckla: no
- Taggart: no
- Titone: yes
- Valdez: yes
- Velasco: yes
- Weinberg: no
- Willford: yes
- Winter T.: no
- Woodrow: yes
- Woog: no
- Zokaie: yes
- McCluskie: yes
Postpone House Bill 26-1221 indefinitely.
2026-05-11 · pass · 0-0
Member-level votes (9)
- Adrienne Benavidez: yes
- Lisa Frizell: yes
- Chris Kolker: yes
- Kyle Mullica: yes
- Byron Pelton: yes
- Cleave Simpson: yes
- Marc Snyder: excused
- Janice Marchman: yes
- Cathy Kipp: no
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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