summary
Introduced
02/12/2024
02/12/2024
In Committee
05/04/2024
05/04/2024
Crossed Over
05/09/2024
05/09/2024
Passed
05/09/2024
05/09/2024
Dead
Signed/Enacted/Adopted
05/24/2024
05/24/2024
Introduced Session
2024 Regular Session
Bill Summary
CONCERNING A STATE INCOME TAX CREDIT FOR ACTIVE AGRICULTURAL STEWARDSHIP PRACTICES, AND, IN CONNECTION THEREWITH, MAKING AN APPROPRIATION.
AI Summary
This bill creates a state income tax credit for active agricultural stewardship practices on farms and ranches in Colorado. Qualified taxpayers can claim a credit ranging from $5 to $150 per acre, depending on the number of stewardship practices implemented, such as crop rotation, reduced tillage, cover cropping, and livestock grazing integration. The tax credit is available from 2026 to 2031, with a total annual credit cap of $3 million. The Department of Agriculture is responsible for certifying eligible practices and taxpayers, and providing information to the State Auditor to evaluate the effectiveness of the credit in achieving its purpose of encouraging sustainable agricultural practices. The bill also includes an appropriation to the Department of Agriculture to implement the tax credit program.
Committee Categories
Agriculture and Natural Resources, Budget and Finance
Sponsors (31)
Matt Martinez (D)*,
Rod Pelton (R)*,
Dylan Roberts (D)*,
Ty Winter (R)*,
Judy Amabile (D),
Shannon Bird (D),
Jeff Bridges (D),
Lisa Cutter (D),
Monica Duran (D),
Steve Fenberg (D),
Rhonda Fields (D),
Bob Gardner (R),
Junie Joseph (D),
Chris Kennedy (D),
Cathy Kipp (D),
Barbara Kirkmeyer (R),
Sheila Lieder (D),
Larry Liston (R),
Meghan Lukens (D),
Mike Lynch (R),
Tisha Mauro (D),
Julie McCluskie (D),
Karen McCormick (D),
Barbara McLachlan (D),
Dafna Michaelson Jenet (D),
Byron Pelton (R),
Kevin Priola (D),
Cleave Simpson (R),
Jim Smallwood (R),
Brianna Titone (D),
Perry Will (R),
Last Action
Governor Signed (on 05/24/2024)
Official Document
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