Amendments for HB22-1149

House Journal, March 1
1 HB22-1149 be amended as follows, and as so amended, be referred to
2 the Committee on Appropriations with favorable
3 recommendation:
4
5 Amend printed bill, page 2, line 3, strike "(2)(c), (3)(a), (3)(b)(I), (3)(c),"
6 and substitute "(2)(c), (2)(d), (3)(a), (3)(b),".
7
8 Page 3, after line 26 insert:
9 "(d) As part of the application for an advanced industry
10 investment tax credit, the applicant and the qualified small business that
11 receives the investment must each provide written authorization to permit
12 the department of revenue to provide tax information to the office for the
13 purpose of determining if there are any misrepresentations on the
14 application. The authorization is limited to disclosure of income tax
15 information for the latest two years for which returns were filed with the
16 department of revenue preceding the date the application is filed and for
17 all tax years through the year in which the investment was made for
18 which a return was not filed as of the date of the application. The
19 applicant must also provide in the written authorization income tax
20 information for all tax years in which the applicant actually claims a tax
21 credit or carries forward a tax credit on a return filed with the department
22 of revenue. An applicant with an individual ownership interest as a
23 co-owner of a business and that may be entitled to a pro rata share of the
24 tax credit pursuant to section 39-22-532 (5), C.R.S. THAT IS A
25 PARTNERSHIP, LIMITED LIABILITY COMPANY, S CORPORATION, OR SIMILAR
26 PASS-THROUGH ENTITY AND THAT MAY ALLOCATE THE CREDIT AMONG THE
27 PARTNERS, SHAREHOLDERS, MEMBERS, OR OTHER CONSTITUENT QUALIFIED
28 INVESTORS PURSUANT TO SECTION 39-22-532 (7) must provide a written
29 authorization with content similar to the authorization, and in the same
30 manner, as any other applicant is required to provide. If an applicant or
31 qualified small business fails to comply with this paragraph (d)
32 SUBSECTION (2)(d), an applicant is ineligible for a tax credit.".
33
34 Page 4, line 19, strike "2028;" and substitute "2027;".
35
36 Page 4, line 20, after "year" insert "THROUGH 2022".
37
38 Page 4, strike line 27.
39
40 Page 5, strike lines 1 through 10 and substitute:
41 "(II) The total amount of the tax credit for each qualified
42 investment shall not exceed fifty ONE HUNDRED thousand dollars. A
43 qualified investor may not claim more than one tax credit per qualified
44 small business, but may be eligible for a tax credit for qualified
45 investments in different qualified small businesses in the same or a
46 different year.".
47
48 Page 6, after line 2 insert:
49 "SECTION 2. In Colorado Revised Statutes, 39-22-532, repeal
50 (5); and add (7) as follows:
51 39-22-532. Advanced industry investment tax credit -
52 definitions. (5) Individuals who are co-owners of a business, including
53 partners in a partnership and shareholders of an S corporation, may each
54 claim only their individual pro rata shares of the Colorado innovation
55 investment tax credit allowed under this section based on their ownership
1 interests. The total of the tax credits allowed to all such owners may not
2 exceed the amount that would have been allowed to a sole owner.
3 (7) IF A QUALIFIED INVESTOR RECEIVING A CREDIT ALLOWED IN
4 THIS SECTION IS A PARTNERSHIP, LIMITED LIABILITY COMPANY, S
5 CORPORATION, OR SIMILAR PASS-THROUGH ENTITY, THE QUALIFIED
6 INVESTOR MAY ALLOCATE THE CREDIT AMONG ITS PARTNERS,
7 SHAREHOLDERS, MEMBERS, OR OTHER CONSTITUENT QUALIFIED INVESTORS
8 IN ANY MANNER AGREED TO BY SUCH PARTNERS, SHAREHOLDERS,
9 MEMBERS, OR OTHER CONSTITUENT QUALIFIED INVESTORS. THE QUALIFIED
10 INVESTOR SHALL CERTIFY TO THE COLORADO OFFICE OF ECONOMIC
11 DEVELOPMENT THE AMOUNT OF THE CREDIT ALLOCATED TO EACH
12 PARTNER, SHAREHOLDER, MEMBER, OR OTHER CONSTITUENT QUALIFIED
13 INVESTOR, AND THE OFFICE SHALL ISSUE CREDIT CERTIFICATES IN THE
14 APPROPRIATE AMOUNTS TO EACH PARTNER, SHAREHOLDER, MEMBER, OR
15 OTHER CONSTITUENT QUALIFIED INVESTOR. EACH PARTNER,
16 SHAREHOLDER, MEMBER, OR OTHER CONSTITUENT QUALIFIED INVESTOR
17 SHALL BE ALLOWED TO CLAIM SUCH AMOUNT SUBJECT TO ANY
18 RESTRICTIONS SET FORTH IN THIS SECTION AND SECTION 24-48.5-112.".
19
20 Renumber succeeding section accordingly.
21
22

House Journal, April 27
19 HB22-1149 be amended as follows, and as so amended, be referred to
20 the Committee of the Whole with favorable
21 recommendation:
22 Amend the Finance Committee report dated February 28, 2022, page 1,
23 after line 2 insert:
24
25 "Page 2 of the bill, line 9, strike "2028," and substitute "2024,".
26
27 Page 3 of the bill, line 15, strike "2028;" and substitute "2024,".".
28
29 Page 2 of the report, line 1, strike ""2027;"." and substitute ""2023;".".
30
31 Page 2 of the report, after line 10 insert:
32
33 "Page 5 of the bill, line 25, strike "2027," and substitute "2023,".
34
35 Page 6 of the bill, line 1, strike "2023." and substitute "2022.".".
36
37 Page 2 of the report, line 36 strike "24-48.5-112."." and substitute:
38
39 "24-48.5-112.
40 SECTION 3. Appropriation. For the 2022-23 state fiscal year,
41 $90,000 is appropriated to the office of the governor for use by economic
42 development programs. This appropriation is from the general fund and
8 43 is based on an assumption that the office will require an additional 0.
44 FTE. To implement this act, the office may use this appropriation for
45 advanced industries.".".
46
47 Page 2 of the report, after line 37 insert "Page 1 of the bill, line 102, strike
48 "CREDIT." and substitute "CREDIT, AND, IN CONNECTION THEREWITH,
49 MAKING AN APPROPRIATION.".".
50
51

House Journal, April 27
53 Amendment No.1, Appropriations Report, dated April 27, 2022, and
54 placed in member’s bill file; Report also printed in House Journal,
55 April 27, 2022.
1 Amendment No. 2, Finance Report, dated February 28, 2022, and placed
2 in member’s bill file; Report also printed in House Journal, March 1,
3 2022.
4
5 As amended, ordered engrossed and placed on the Calendar for Third
6 Reading and Final Passage.
7