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Calendar Notification of Your Bill Dossier
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Bill HB12-1037 - NOT ON CALENDAR
Bill HB12-1042 - NOT ON CALENDAR
The bill classifies the sales of certain agricultural items as wholesale sales rather than retail sales. The effect of such a classification is that the following sales will not be subject to sales tax:
* Sales of agricultural compounds to be consumed by, administered to, or otherwise used in caring for livestock;
* Sales of semen for agricultural or ranching purposes; and
* Sales of pesticides that are registered by the commissioner of agriculture for use in the production of agricultural and livestock products.
Status1/11/2012 01/11/2012 Introduced In House - Assigned to Agriculture, Livestock, & Natural Resources
1/11/2012 01/11/2012 Introduced In House - Assigned to Agriculture, Livestock, & Natural Resources + Finance
1/11/2012 01/11/2012 Introduced In House - Assigned to Agriculture, Livestock, & Natural Resources + Finance + Appropriations
1/30/2012 01/30/2012 House Committee on Agriculture, Livestock, & Natural Resources Refer Amended to Finance
2/2/2012 02/02/2012 House Committee on Finance Refer Unamended to Appropriations
4/5/2012 04/05/2012 House Committee on Appropriations Refer Unamended to House Committee of the Whole
4/10/2012 04/10/2012 House Second Reading Laid Over Daily
4/17/2012 04/17/2012 House Second Reading Passed with Amendments
4/18/2012 04/18/2012 House Third Reading Passed
4/18/2012 04/18/2012 Introduced In Senate - Assigned to Agriculture, Natural Resources, and Energy + Finance + Appropriations
4/26/2012 04/26/2012 Senate Committee on Agriculture, Natural Resources, and Energy Witness Testimony and/or Committee Discussion Only
5/1/2012 05/01/2012 Senate Committee on Agriculture, Natural Resources, and Energy Refer Unamended to Finance
5/3/2012 05/03/2012 Senate Committee on Finance Re-Refer Unamended to Appropriations
5/4/2012 05/04/2012 Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole
5/8/2012 05/08/2012 Senate Second Reading Passed
5/8/2012 05/08/2012 Senate Second Reading Special Orders - Passed
5/9/2012 05/09/2012 Senate Third Reading Passed
5/17/2012 05/17/2012:38 PM 04:20 Signed by the Speaker of the House
5/17/2012 05/17/2012:48 PM 04:10 Signed by the President of the Senate
5/18/2012 05/18/2012 Sent to the Governor
6/4/2012 06/04/2012 Governor Action - Signed
Most Recent Amendment11 HB12-1037 be amended as follows, and as so amended, be referred to
12 the Committee on Finance with favorable
13 recommendation:
14
15 Amend printed bill, page 3, line 16, after "COMPOUNDS" insert "AND
16 SPRAY ADJUVANTS".
17
18 Page 3, strike lines 26 and 27.
19
20 Page 4, strike lines 1 through 5.
21
22 Reletter succeeding sub-subparagraph.
23
24 Page 4, after line 7 insert:
25
26 "(III) FOR PURPOSES OF THIS PARAGRAPH (c), "SPRAY ADJUVANTS"
27 MEANS PRODUCTS THAT ARE USED TO INCREASE THE EFFECTIVENESS OF
28 A PESTICIDE.".
29
30 Page 5, after line 17 insert:
31
32 "SECTION 3. Effective date. This act takes effect upon passage;
33 except that section 2 of this act takes effect July 1, 2012.".
34
35 Renumber succeeding section accordingly.
36
37
The bill establishes an income tax credit for a person who inherits agricultural land located within the state that is equal to the portion of Colorado estate taxes attributable to the transfer of the land. The tax credit is subject to the following requirements:
* If more than one person inherits the land, the credit is apportioned among all beneficiaries;
* If the credit exceeds the income taxes owed, the excess is refundable to the taxpayer; and
* If the land is reclassified in the 10 years after the credit is claimed, the taxpayer is required to repay the credit, with interest, to the state as part of an amended income tax return.
Status1/11/2012 01/11/2012 Introduced In House - Assigned to Finance
1/11/2012 01/11/2012 Introduced In House - Assigned to Finance + Appropriations
2/8/2012 02/08/2012 House Committee on Finance Refer Unamended to Appropriations
4/17/2012 04/17/2012 House Committee on Appropriations Refer Amended to House Committee of the Whole
4/19/2012 04/19/2012 House Second Reading Laid Over Daily
4/23/2012 04/23/2012 House Second Reading Passed with Amendments
4/24/2012 04/24/2012 House Third Reading Passed
4/25/2012 04/25/2012 Introduced In Senate - Assigned to Finance
5/1/2012 05/01/2012 Senate Committee on Finance Refer Unamended to Appropriations
5/4/2012 05/04/2012 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole
5/8/2012 05/08/2012 Senate Second Reading Passed
5/8/2012 05/08/2012 Senate Second Reading Special Orders - Passed
5/9/2012 05/09/2012 Senate Third Reading Passed
5/17/2012 05/17/2012:52 PM 04:20 Signed by the Speaker of the House
5/17/2012 05/17/2012:03 PM 04:10 Signed by the President of the Senate
5/17/2012 05/17/2012 Sent to the Governor
5/21/2012 05/21/2012 Governor Action - Signed
Most Recent Amendment7 HB12-1042 be amended as follows, and as so amended, be referred to
8 the Committee of the Whole with favorable
9 recommendation:
10
11 Amend printed bill, page 3, line 3, after "(1)" insert "(a)".
12
13 Page 3, line 4, strike "COMMENCING ON OR AFTER".
14
15 Page 3, line 5, strike "JANUARY 1, 2013," and substitute "SPECIFIED IN
16 PARAGRAPH (b) OF THIS SUBSECTION (1),".
17 Page 3, after line 14 insert:
18 "(b) THE CREDIT SHALL NOT APPLY UNTIL THE FIRST INCOME TAX
19 YEAR:
20 (I) AFTER CONGRESS ENACTS A LAW DELAYING TO A DATE AFTER
2621 DECEMBER 31, 2012, THE SUNSET OF THE AMENDMENTS TO SECTION
22 U.S.C. 2011 THAT WERE INCLUDED IN THE "ECONOMIC GROWTH AND TAX
23 RELIEF RECONCILIATION ACT OF 2001", PUBLIC LAW 107-16; AND
24 (II) THAT AN ESTATE TAX IS OWED PURSUANT TO ARTICLE 23.5 OF
25 THIS TITLE.".
26
27