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SB 25-026

Adjusting Certain Tax Expenditures

2025 Regular Session Introduced by Judy Amabile and 8 co-sponsors

The bill changes existing tax expenditures to refine eligibility, amounts, and administration, affecting who benefits and overall state revenue.

Governor Signed
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WeVote Research Nonpartisan
Bill Summary · SB 25-026

SB 25‑026 — Adjusting Certain Tax Expenditures

Status: Governor Signed (signed 2025‑06‑03)
Introduced: 2025‑01‑08

Sponsors: Junie Joseph (primary), Bob Marshall (primary), Kyle Mullica (primary); cosponsors C. Kipp, J. Bacon, J. Amabile, M. Weissman, L. Frizell, J. Coleman

Purpose and intent

The bill’s title — “Adjusting Certain Tax Expenditures” — indicates the legislation makes changes to one or more tax expenditures. In general, “tax expenditures” are tax credits, deductions, exemptions, exclusions, or preferential rates that reduce tax liability in ways comparable to direct spending. The stated intent for bills of this type typically is to update, refine, or sunset targeted tax benefits to improve fiscal outcomes, close unintended loopholes, simplify administration, or better target benefits to policy goals (for example, equity, economic development, or environmental incentives).

Note: The legislative text of SB 25‑026 was not included with your request. The summary below describes common elements and likely effects of a bill that “adjusts tax expenditures,” and highlights what to check in the actual bill and fiscal materials.

Key provisions to look for in the bill

(These are the typical types of changes such a bill may contain. Confirm in the bill text and fiscal note for specifics.)

  • Modifying eligibility criteria for existing tax credits, deductions, or exemptions (income thresholds, residency, activity requirements).
  • Changing credit structures (amounts, refundable vs. nonrefundable status, carryforward rules, or phase‑outs).
  • Capping or indexing benefits (annual caps per taxpayer or inflation adjustments).
  • Adding, extending, or repealing sunset dates for specific tax provisions.
  • Conforming state tax rules to recent federal tax law changes.
  • Clarifying administrative or reporting requirements for taxpayers and the Department of Revenue.
  • Adjusting effective dates or retroactivity of tax changes.

Who would be affected

  • Individual taxpayers and businesses currently using the adjusted tax expenditures (amounts owed and compliance obligations may change).
  • State budget and revenues — adjustments could increase or decrease General Fund receipts depending on whether the bill reduces or expands tax benefits; the fiscal note will estimate these impacts.
  • State tax administration (Department of Revenue) — rulemaking, guidance, and systems updates may be required.
  • Local governments and certain nonprofit or targeted industries if the expenditures interact with local tax/regulatory programs.

Procedural timeline and status

  • Introduced in Senate (assigned to Finance) — 2025‑01‑08
  • Passed Senate and House (with committee amendments and concurrence) — late April to early May 2025
  • Sent to Governor — 2025‑05‑15
  • Governor signed into law — 2025‑06‑03

Because the bill is Governor‑signed, it is law; effective date(s) will be those specified in the enacted text or, absent specification, the state’s default effective date rule. Check the signed bill for exact effective dates and any transition provisions.

Recommended next steps to assess impact

  1. Read the enacted bill text to identify which specific tax expenditures are changed and the precise statutory language.
  2. Review the fiscal note and revenue estimates to quantify budgetary impact and affected tax years.
  3. Check the Department of Revenue guidance for administrative instructions, rulemaking, and taxpayer forms/filing changes.
  4. If you represent affected taxpayers or sectors, consult tax counsel to understand compliance and planning implications.

If you’d like, I can retrieve and summarize the actual enacted provisions and the fiscal note if you provide a link to the bill text or authorize me to look it up.

Compiled from official sources — confirm details with the bill’s official record.

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