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Senate adopts bill authorizing capped one-time sale of future tax credits to raise cash for schools and wildfire response
Summary
House Bill 25 B 1004 authorizes the state treasurer to sell a capped amount of future state tax credit certificates, with a floor price and oversight provisions. Supporters said the sale will generate one-time funds for school districts and emergency services; critics warned about long-term revenue loss.
The Colorado Senate adopted House Bill 25 B 1004, authorizing the state treasurer to sell a limited quantity of future tax-credit certificates at no less than 80% of face value. Sponsors said the proceeds would net a transfer to the general fund after issuance and administrative costs and provide one-time support for school staffing and wildfire response.
Senator Snyder, sponsor in the Senate, told the committee the bill creates a cash fund to receive proceeds, pays issuance costs inside that fund, and transfers $100 million to the general fund.…
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