Colorado · 2025 First Extraordinary Session · Bill
HB 1004: Sale of Tax Credits
Enacted Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 1004 is a bill introduced in the Colorado House on August 21, 2025. According to its official title, it concerns: Sale of Tax Credits. Primary sponsor: M. Snyder, J. Marchman, R. Stewart, S. Camacho. It lists 32 additional sponsors. Most recent recorded action (August 28, 2025): Governor Signed.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
The act authorizes the department of the treasury (department) to sell insurance premium tax credits to insurance companies that incur state premium tax liability (premium tax credit) and to C corporations that incur state income tax liability (corporate tax credit). The premium tax credit and the corporate tax credit (tax credits) may be offered for sale to insurance companies and C corporations by the department, subject to procedures adopted by the department. The department may contract or consult with an independent third party to manage the sale process, and if it does so, the independent third party must adopt the sale procedures.A qualified taxpayer who purchases a tax credit may claim the tax credit against its premium tax or income tax liability (tax liability), as applicable. The department, in consultation with the office of state planning and budgeting, prior to the sale of a tax credit, may determine the calendar years in which the qualified taxpayer may claim the qualified taxpayer's tax credit against the qualified taxpayer's tax liability. The amount of the tax credit claimed cannot exceed the taxpayer's tax liability for a given year and a tax credit is not refundable. The unused amount carries forward and may be claimed in subsequent years; except that a tax credit cannot be claimed for a tax liability incurred in a taxable year that begins after December 31, 2033. Insurance companies with a qualified home office or regional home office in the state have first priority to purchase premium tax credits.In fiscal year 2025-26, the department is authorized to issue tax credit certificates to qualified taxpayers equal to the lesser of a total face value of up to $125 million or total sales proceeds of up to $100 million, plus any reasonable and necessary administrative, monitoring, and closing costs of the department (closing costs). The minimum proposed tax credit purchase amount must be the greater of either the amount that an independent third party determines to be consistent with market conditions or 80% of the requested dollar amount of tax credits.The act creates the tax credit proceeds cash fund (fund). The proceeds from the issuance of tax credits must be deposited in the fund. Subject to annual appropriation, the department may expend money from the fund for any closing costs associated with implementing and administering the act. Subject to annual appropriation, the department of revenue may expend money from the fund for direct and indirect costs associated with implementing and administering the act. Each month, the state treasurer is required to credit the money generated by the issuance of tax credits to the fund. The department is required to transfer the money in the fund to the general fund, less any amounts used for expenses authorized by the act.For the 2025-26 state fiscal year, the act appropriates $3,173,500 to the department. The appropriation is from the fund and must be used for tax credit administration.APPROVED by Governor August 28, 2025EFFECTIVE August 28, 2025(Note: This summary applies to this bill as enacted.)
Sponsors
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| M. Snyder | Primary sponsor | Not applicable (committee) | — | — |
| J. Marchman | Primary sponsor | Not applicable (committee) | — | — |
| R. Stewart | Primary sponsor | Not applicable (committee) | — | — |
| S. Camacho | Primary sponsor | Not applicable (committee) | — | — |
| J. Bacon | Co-sponsor | Not applicable (committee) | — | — |
| A. Boesenecker | Co-sponsor | Not applicable (committee) | — | — |
| K. Brown | Co-sponsor | Not applicable (committee) | — | — |
| J. Coleman | Co-sponsor | Not applicable (committee) | — | — |
| L. Cutter | Co-sponsor | Not applicable (committee) | — | — |
| M. Duran | Co-sponsor | Not applicable (committee) | — | — |
| C. Espenoza | Co-sponsor | Not applicable (committee) | — | — |
| T. Exum | Co-sponsor | Not applicable (committee) | — | — |
| M. Froelich | Co-sponsor | Not applicable (committee) | — | — |
| L. García | Co-sponsor | Not applicable (committee) | — | — |
| L. Gilchrist | Co-sponsor | Not applicable (committee) | — | — |
| J. Gonzales | Co-sponsor | Not applicable (committee) | — | — |
| D. Michaelson Jenet | Co-sponsor | Not applicable (committee) | — | — |
| I. Jodeh | Co-sponsor | Not applicable (committee) | — | — |
| J. Joseph | Co-sponsor | Not applicable (committee) | — | — |
| C. Kipp | Co-sponsor | Not applicable (committee) | — | — |
| S. Lieder | Co-sponsor | Not applicable (committee) | — | — |
| M. Lindsay | Co-sponsor | Not applicable (committee) | — | — |
| J. Mabrey | Co-sponsor | Not applicable (committee) | — | — |
| J. McCluskie | Co-sponsor | Not applicable (committee) | — | — |
| K. McCormick | Co-sponsor | Not applicable (committee) | — | — |
| E. Sirota | Co-sponsor | Not applicable (committee) | — | — |
| L. Smith | Co-sponsor | Not applicable (committee) | — | — |
| T. Story | Co-sponsor | Not applicable (committee) | — | — |
| T. Sullivan | Co-sponsor | Not applicable (committee) | — | — |
| B. Titone | Co-sponsor | Not applicable (committee) | — | — |
| K. Wallace | Co-sponsor | Not applicable (committee) | — | — |
| M. Weissman | Co-sponsor | Not applicable (committee) | — | — |
| J. Willford | Co-sponsor | Not applicable (committee) | — | — |
| F. Winter | Co-sponsor | Not applicable (committee) | — | — |
| S. Woodrow | Co-sponsor | Not applicable (committee) | — | — |
| Y. Zokaie | Co-sponsor | Not applicable (committee) | — | — |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Governor Signed
- Signed by the Speaker of the House
- Signed by the President of the Senate
- Sent to the Governor
- Senate Third Reading Passed - No Amendments
- House Considered Senate Amendments - Result was to Concur - Repass
- Senate Second Reading Special Order - Passed with Amendments - Committee
- Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole
- Senate Second Reading Special Order - Laid Over to 08/25/2025 - No Amendments
- House Third Reading Passed - No Amendments
- Introduced In Senate - Assigned to Appropriations
- House Second Reading Special Order - Passed with Amendments - Committee, Floor
Showing 12 most recent of 14 actions. Full history