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Senate approves sale of state tax credits as one-year budget bridge
Summary
The Colorado Senate passed House Bill 1004 to allow the Treasury to sell up to $125 million in future state tax credits and deposit proceeds into a newly created cash fund to support the general fund; supporters called the measure a one-year bridge while critics warned it shifts costs to later years.
The Colorado Senate on Aug. 25, 2025, passed House Bill 1004, authorizing the Department of the Treasury to sell up to $125 million in state tax credits and deposit the proceeds into a newly created “tax credit sale proceeds cash fund” that can be used for the general fund. The motion passed by recorded voice and roll call with a stated vote of 22 ayes and 12 no votes.
Supporters said the measure is a short-term fix to a revenue shortfall caused by recent federal tax-code changes; opponents said it borrows from future budgets and increases long-term risk. Senator Marchman framed the bill as “just a bridge for this year,” describing a mechanism that would permit the treasurer to sell tax credits at no less than about 80 cents on the dollar with proceeds deposited to…
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