Representative Salazar's 2016 Legislation/Laws

Rep Joe SalazarHOMEBUYER SAVINGS ACCOUNT LAW
GOES INTO EFFECT

Rep. Joe Salazar's new law creating a state income tax deduction for first-time homebuyer savings accounts goes into effect today, making it easier to save for the biggest investment many Coloradans will ever make.

"One of the biggest barriers to home ownership in Colorado is the difficulty of saving enough for a down payment," said Rep. Salazar, D-Thornton. "Today we begin to empower more Coloradans to become homebuyers. This is a practical step to make housing more affordable in Colorado."

HB16-1467, sponsored by Rep. Salazar with Majority Leader Crisanta Duran, D-Denver, allows Coloradans to designate a new or existing savings account as a tax-free first-time homebuyer's account.

The new law was written to encourage a broad variety of investments. Parents, for example, can set up homebuyer accounts for their children.

The bill passed the state legislature this year and was signed by Gov. John Hickenlooper. Its effective date, the 90th day after the legislative session ended, is August 10th.

 

HB 16-1021
Concerning providing the opportunity to collect identifying information from applicants for state-issued cards.
Passed & Now goes to the Governor’s Desk

HB 16-1038
Concerning optional affiliation with the fire and police pension association by a county sheriff department that does not participate in social security.
Signed into Law by the Governor

HB 16-1311
Concerning court orders requiring payment of monetary amounts.
Passed & Goes to the Governor’s Desk

HB 16-1359
Concerning the use of medical marijuana while on probation.
Passed & Goes to the Governor’s Desk

HB 16-1467
Concerning a state income tax deduction for amounts earned on the investment of money in a first-time home buyer savings account.
Passed & Goes to the Governor’s Desk

HJR 16-1009
Concerning declaring the week of February 2-8, 2016, as Chicano History Week in Colorado.
Passed

 

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