§ 39-22-119.5. Child Care Expenses Tax Credit – Legislative Declaration – Definitions

The general assembly hereby finds and declares that: Colorado families and the state economy thrive when parents are able to work; While research shows that high-quality child care contributes to economic mobility, child care can be cost prohibitive for low-income working parents; The general assembly created the child care expenses tax credit in section 39-22-119 […]

§ 39-22-120. Legislative Declaration – State Sales Tax Refund – Offset Against State Income Tax

The general assembly hereby finds and declares that: Section 20 of article X of the state constitution, which was approved by the registered electors of this state in 1992, limits the annual growth of state fiscal year spending; During the 1997-98 fiscal year, state revenues from sources not excluded from state fiscal year spending exceeded […]

§ 39-22-121. Credit for Child Care Facilities – Repeal

Repealed. (1.5) For income tax years commencing prior to January 1, 2025, any taxpayer who makes a monetary contribution to promote child care in the state is allowed a credit against the income tax imposed by this article 22 in an amount equal to fifty percent of the total value of the contribution except as […]

§ 39-22-122. Long-Term Care Insurance Credit

Any resident individual who incurs an expense in purchasing or making a payment upon a policy of long-term care insurance for the individual or the individual’s spouse shall be allowed a credit against the income taxes due on the individual’s income under this article. The credit shall be an amount equal to twenty-five percent of […]

§ 39-22-123. Earned Income Tax Credit – Refund of State Excess Revenues for Fiscal Years Commencing on or After July 1, 1998

Repealed. Subject to the provisions of subsection (4) of this section, for any income tax year commencing on or after January 1, 2000, if, based on the financial report prepared by the controller in accordance with section 24-77-106.5, C.R.S., the controller certifies that the amount of state revenues for the state fiscal year ending in […]

§ 39-22-123.5. Earned Income Tax Credit – Not a Refund of Excess State Revenues – Trigger – Legislative Declaration – Repeal

The general assembly hereby finds and declares that: The federal earned income tax credit is a refundable tax credit for low- and middle-income working individuals and families whose earnings are below an income threshold; The amount of the credit increases with income until the credit reaches a maximum level and then phases out, and this […]

§ 39-22-129. Child Tax Credit – Legislative Declaration – Definitions

The general assembly hereby finds and declares that: The federal child tax credit, which includes the refundable portion of the credit commonly known as the additional child tax credit, supports low- and middle-income working families whose earnings are below an income threshold and who have children under seventeen years of age; Since its establishment at […]