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Legislative Year: 2022 Change
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Bill Detail: SB22-124

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Title SALT Parity Act
Status Governor Signed (05/16/2022)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors K. Van Winkle (R)
D. Ortiz (D)
Senate Sponsors R. Woodward (R)
C. Kolker (D)
House Committee Business Affairs and Labor
Senate Committee Finance
Date Introduced 02/03/2022
Summary

The SALT Parity Act (act) was enacted in 2021 and, for income
tax years commencing on or after January 1, 2022, the act allows
pass-through entities to elect to pay state income tax at the entity level,
which allows the entity to claim an unlimited deduction at the federal
level for state and local taxes paid. While this election reduces federal
taxable income for the pass-through entity, it does not reduce Colorado

taxable income under current law.
The bill makes provisions of the act retroactive to January 1, 2018.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (05/05/2022) (most recent)  
Additional Bill Documents Bill Documents
Including:
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  • Past fiscal notes
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