Colorado · 2025 First Extraordinary Session · Bill
HB 1020: Additions to Definition Federal Taxable Income
Introduced Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 1020 is a bill introduced in the Colorado House on August 21, 2025. According to its official title, it concerns: Additions to Definition Federal Taxable Income. Primary sponsor: B. Pelton, B. Kirkmeyer, R. Pugliese, J. Caldwell. Most recent recorded action (August 21, 2025): Introduced In House - Assigned to State, Civic, Military, & Veterans Affairs.
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.
For tax years commencing on and after January 1, 2026, current law requires taxpayers to add the amount of any overtime compensation excluded or deducted from that taxpayer's federal gross income to that taxpayer's federal taxable income for purposes of determining the taxpayer's state taxable income. The bill repeals this addition and clarifies that this addition is "a tax policy change directly causing a net tax revenue gain to any district", so that reinstating this addition requires voter approval in advance pursuant to section 20 (4)(a) of article X of the state constitution.For tax years commencing before January 1, 2026, current law requires certain taxpayers to add to their federal taxable income, for purposes of determining their state taxable income, an amount equal to the federal qualified business income deduction allowed under section 199A of the federal "Internal Revenue Code of 1986". The bill clarifies that extending this tax policy to apply to any tax year commencing on or after January 1, 2026, would be "a tax policy change directly causing a net tax revenue gain to any district" and requires voter approval in advance pursuant to section 20 (4)(a) of article X of the state constitution.(Note: This summary applies to this bill as introduced.)
Sponsors
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| B. Pelton | Primary sponsor | Not applicable (committee) | — | — |
| B. Kirkmeyer | Primary sponsor | Not applicable (committee) | — | — |
| R. Pugliese | Primary sponsor | Not applicable (committee) | — | — |
| J. Caldwell | Primary 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
- Introduced In House - Assigned to State, Civic, Military, & Veterans Affairs
- House Committee on State, Civic, Military, & Veterans Affairs Postpone Indefinitely