House Ag Committee Unanimously Backs Ag Tax Reduction

The Colorado House Ag Committee unanimously passed a measure to reinstate the ag tax exemptions stripped from the industry last legislative session as part of the budge-cutting process. The ‘Dirty Dozen’ tax measures suspended various tax exemptions given to a number of industries including agriculture.

Rep. Sonneberg’s HB 1005 would reinstate tax breaks for various agricultural products including ag chemicals and bull semen.

Reinstating the tax exemption as of March 1 would cost the state $1.3 million for the fiscal year that ends on June 30 and $3.7 million for next fiscal year.But Sonnenberg argued that the state is losing an even greater amount of tax revenue now because farmers in the rural areas surrounding the state’s borders are simply driving into Nebraska or Kansas or New Mexico and buying the same products more cheaply.


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