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News & Press: Colorado Technology Industry

Legislative Update - May 9, 2011

Monday, May 9, 2011   (0 Comments)
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Legislative Update - May 9, 2011

Colorado Technology Association's work to represent the technology industry continues this week as the Colorado Legislative Session comes to a close on Wednesday.  Here are summarized updates on the key legislation we have been leading, or are supporting and monitoring for our industry:

This is our highest priority this year, and we have been aggressively leading the work to repeal HB10-1192 from last year with the passage of HB11-1293.  We are delighted that Senators Jahn and Newell led the Senate to passage of the bill on 2nd reading last Friday, and it is up for 3rd reading today, and expected to pass out of the Senate and back to the House for a confirmation vote because of a minor amendment added from the Senate.  Thank you again to the House Speaker Frank McNulty (R-Highlands Ranch), House Majority Leader Amy Stephens (R-El Paso County), Representative Carole Murray (R-Castle Rock), Senate President Brandon Shaffer (D-Longmont), Senator Cheri Jahn (D-Wheat Ridge) and Senator Linda Newell (D-Littleton) for their leadership.  

HB11-1045 passed Senate Finance on a unanimous 7-0 vote, and Colorado Technology Association  is proud to be there supporting this important bill again.  Termed the "angel tax credit bill,” this legislation continues the tax credit for investors in technology companies in Colorado.  It will be before the Senate Appropriations committee this afternoon or morning before it heads to the floor.  Thank you again Representative John Kefalas (D-Fort Collins) and Senator Linda Newell (D-Littleton) for sponsoring this bill. 

The Senate gave approval on 2nd reading to this bill, which will continue to allow taxpayers to have three years to file a sales-tax refund claim.  This is important legislation because it confirms the amount of time for refund claims, given that there were reported inconsistencies being applied by the Colorado Department of Revenue in the amount of time for refunds, and, requests to change the refund window from three years to just 60 days.  Colorado Technology Association became involved last fall when the issue first was raised, and we supported the efforts to ensure our members and companies are provided adequate time to file for refunds for sales tax overpayments.  Thank you to House Majority Leader Amy Stephens (R-El Paso County), and Senator Michael Johnston (D-Denver), who also chairs the Senate Finance Committee.

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