Signed by Governor Bill Ritter, Jr.

Vote Smart's Synopsis:

Vote to pass a bill that modifies statutes regarding tax reductions for capital gains.

Highlights:

-Allows income tax reductions on net capital gains earned by the taxpayer by selling real or tangible personal property located within Colorado or on the sale of stock or ownership interest in a Colorado company, in which the stock or property was acquired on or after May 9, 1994, owned for at least five years, and sold during an income tax year prior to January 1, 2010 (Sec. 1). -Allows income tax reductions on net capital gains earned by the taxpayer by selling real or tangible personal property located within Colorado, which property was acquired on or after May 9, 1994, owned for at least five years, and sold during an income tax year that began on or after January 1, 2010 (Sec. 1). -Allows income tax reductions on net capital gains earned by the taxpayer by selling tangible personal property located within or outside Colorado, which property was acquired on or after January 1, 2010 and owned for at least five years (Sec. 1). -Caps amount of net capital gains from which income tax reductions may be acquired at $100,000 per income tax year (Sec. 1).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that modifies statutes regarding tax reductions for capital gains.

Highlights:

-Allows income tax reductions on net capital gains earned by the taxpayer by selling real or tangible personal property located within Colorado or on the sale of stock or ownership interest in a Colorado company, in which the stock or property was acquired on or after May 9, 1994, owned for at least five years, and sold during an income tax year prior to January 1, 2010 (Sec. 1). -Allows income tax reductions on net capital gains earned by the taxpayer by selling real or tangible personal property located within Colorado, which property was acquired on or after May 9, 1994, owned for at least five years, and sold during an income tax year that began on or after January 1, 2010 (Sec. 1). -Allows income tax reductions on net capital gains earned by the taxpayer by selling tangible personal property located within or outside Colorado, which property was acquired on or after January 1, 2010 and owned for at least five years (Sec. 1). -Caps amount of net capital gains from which income tax reductions may be acquired at $100,000 per income tax year (Sec. 1).

Full Bill Text