Delivering Real Results for Coloradans: New Laws Signed by Governor Polis Take Effect January 1
New tax credits for up to $7,500 on electric vehicles will also go into effect
DENVER - New laws signed by Governor Polis, and passed by the legislature, take effect on January 1, 2024. These new bipartisan laws support Colorado’s leading agriculture industry, increase access to resources for Colorado veterans, and make Colorado roads and highways safer. New tax credits for up to $7,500 on electric vehicles will also go into effect to save people money on electric vehicles.
“This year we continued working with the legislature to deliver the results that Coloradans deserve, including strengthening our agriculture industry, supporting Colorado’s veterans, making our roads safer for everyone, saving people money on healthcare, and improving air quality with lower-cost electric vehicles,” said Governor Jared Polis. “As these laws take effect, I look forward to the work ahead and our continued efforts to move Colorado forward.”
HB23-1011 - Consumer Right to Repair Agriculture Equipment, sponsored by Representatives Brianna Titone and Ron Weinberg, and Senators Nick Hinrichsen and Janice Marchman. This bipartisan bill allows farmers and ranchers to repair their own equipment instead of requiring it to be sent to manufacturers or dealers for any repair.
SB23-036 - Veterans with Disability Property Tax Exemptions, sponsored by Senators Byron Pelton and Lisa Cutter, and Representatives Ryan Armagost and David Ortiz. This bipartisan bill will simplify the process of claiming property tax exemptions for veterans with disabilities and make it easier for counties to process the exemptions.
HB23-1002 - Epinephrine Auto-injectors, sponsored by Representatives Javier Mabrey and Iman Jodeh, and Senator Dylan Roberts. This legislation saves Coloradans money on life-saving epi-pens, capping the cost of a two-pack at $60 for Coloradans for health plans issued on or renewed after January 1st, 2024 and creating the epi-pen affordability program.
HB23-1272 - Tax Policy That Advances Decarbonization, sponsored by Representatives Mike Weissman and Junie Joseph, Senate President Steve Fenberg, and Senator Lisa Cutter. This legislation improves air quality and helps Coloradans save money on transportation and home heating and cooling. New and expanded refundable tax credits are available for cutting edge products and technologies including electric bicycles, efficient heat pump heating and cooling, and more beginning in tax year 2024. Starting Jan 1, Coloradans can also receive an additional $2,500 tax credit for electric vehicles with an MSRP under $35,000 in addition to the state's current $5,000 credit – up to $7,500 in credit, in addition to federal and other incentives.
HB23-1267 - Double Fines Speeding Trucks on Steep Grades, sponsored by House Speaker McCluskie, Representative Soper, and Senators Dylan Roberts and Perry Will. This bipartisan legislation improves safety for all drivers on Colorado roads and will reduce speeding by establishing steep downhill-grade zones along highways and increasing the fine for commercial trucks caught speeding in these areas.
###