HB15-1234

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HB15-1234 - Income Tax Deduction For Leasing Out Ag Asset

Postponed Indefinitely
Concerning A Temporary Income Tax Deduction For A Portion Of Lease Payments Received By A Qualified Taxpayer For Leasing The Taxpayer's Agricultural Asset To An Eligible Beginning Farmer Or Rancher.

The bill allows an income tax deduction for specified income tax years if a qualified taxpayer enters into a qualified lease with an eligible beginning farmer or rancher, in an amount specified in a deduction certificate issued by the Colorado agricultural development authority that is equal to 20% of the lease payments received from the eligible beginning farmer or rancher as specified in the qualified lease, not to exceed a specified amount per income tax year, for a maximum of 3 income tax years.

Latest update: April 28, 2015
04/28/2015 Senate Committee on Finance Postpone Indefinitely
04/21/2015 Introduced In Senate - Assigned to Finance + Appropriations
04/21/2015 House Third Reading Passed - No Amendments
04/20/2015 House Second Reading Passed - No Amendments
04/17/2015 House Committee on Appropriations Refer Unamended to House Committee of the Whole
04/01/2015 House Committee on Finance Refer Amended to Appropriations
03/09/2015 House Committee on Agriculture, Livestock, & Natural Resources Refer Amended to Finance
02/19/2015 Introduced In House - Assigned to Agriculture, Livestock, & Natural Resources + Finance