Bill > SB026

This bill makes several adjustments to tax provisions and expenditures in Colorado, including extending and modifying various tax credits, exemptions, and refund provisions. Specifically, the bill extends the residential energy storage systems tax credit from January 1, 2025, to January 1, 2027, and pushes back its repeal date to January 1, 2030. It adds new definitions for "wholesale sale" to include sales of agricultural compounds and clarifies tax exemptions and refunds for specific types of fuel and sales transactions. The bill also adjusts provisions related to alcohol beverage excise tax refunds, with a new cutoff date of December 31, 2025. For residential property tax, the bill modifies assessment valuations for qualified-senior primary residences and removes the condition of "sufficient excess state revenues". Additionally, the bill includes a modest appropriation of $13,137 to the Department of Revenue for administrative purposes, primarily for IT system support and personal services. These changes aim to provide clarity, extend existing tax benefits, and make technical adjustments to various tax-related statutes.

Budget and Finance

https://leg.colorado.gov/bills/sb25-026