Wednesday, March 01, 2006

Colorado Bill HB06-1308

HB06-1308 permits the Colorado economic development commission to purchase the right to make a deduction for a net operating loss from a bioscience company (future tax benefit). The Bill requires the general assembly to appropriate at least $2.5 million for the each of the next 5 state fiscal years to purchase these future tax benefits. It establishes criteria for a bioscience company to be eligible to sell the future tax benefit to the commission, and extends the sunset date of the commission in order that it may administer the program to purchase future tax benefits.

Status: 2/3/06 - Introduced In House - Assigned to Finance - PASSED – Pending House Appropriations Committee

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