Bill > HB1048

This bill establishes a comprehensive online database managed by the Colorado Department of Revenue that will catalog all qualifying state tax expenditures and grant opportunities by December 31, 2026. A qualifying tax expenditure is defined as a tax benefit with a limited dollar amount, requiring a discretionary agency determination, or necessitating an application and approval process. Similarly, a state grant opportunity is any grant funded or administered by the state. The database will be publicly accessible and include detailed information for each tax expenditure and grant, such as its purpose, eligibility criteria, available amounts, application procedures, timelines, assistance resources, performance criteria, reporting requirements, and contact information. State agencies will be required to provide necessary information to help create and maintain the database, which must be continuously reviewed and updated annually. The bill aims to increase transparency by providing a centralized, searchable resource for individuals and organizations seeking state tax benefits and grant funding. The act will take effect after the standard 90-day legislative period, with a potential referendum process that could delay implementation until the November 2026 election.

Military Affairs and Security

https://leg.colorado.gov/bills/hb25-1048