Colorado · 2025 Regular Session · Bill
SB 25-136: Expand Deduction For Retirement Benefits
Introduced Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
SB 25-136 is a bill introduced in the Colorado Senate on February 5, 2025. According to its official title, it concerns: Expand Deduction For Retirement Benefits. Primary sponsor: Ryan Gonzalez (Republican), Byron Pelton (Republican). Most recent recorded action (February 27, 2025): Senate Committee on State, Veterans, & Military Affairs Postpone Indefinitely.
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.
Current law allows any individual to deduct amounts, up to certain caps based on the individual's age, received as pensions or annuities from any source, to the extent included in federal adjusted gross income. Notwithstanding the caps on the deduction for amounts received as pensions or annuities from other sources, current law allows any individual who is 65 years of age or older at the close of a taxable year to subtract the total amount of social security benefits that the individual received from the individual's federal taxable income, to the extent those benefits were included in federal taxable income, when determining the individual's state taxable income. Beginning January 1, 2025, this subtraction is also allowed to any individual who is 55 years of age or older and has an adjusted gross income for the applicable tax year that is less than or equal to $75,000 if filing individually or $95,000 if filing jointly. For income tax years commencing on or after January 1, 2026, the bill removes all caps on the deduction for amounts received as pensions and annuities and allows any individual, regardless of age or income, to subtract the total amount that the individual received as pension or annuity income from the individual's federal taxable income, to the extent that income was included in federal taxable income, when determining the individual's state taxable income. (Note: This summary applies to this bill as introduced.)
Sponsors
Sponsors by party (alphabetical): Republican 2
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Ryan Gonzalez | Primary sponsor | Republican | House | 50 |
| Byron Pelton | Primary sponsor | Republican | Senate | 1 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Senate Committee on State, Veterans, & Military Affairs Postpone Indefinitely
- Introduced In Senate - Assigned to State, Veterans, & Military Affairs