HB 24-1312 CO

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Became Law

The act creates a refundable income tax credit (credit) that is available for income tax years commencing on or after January 1, 2025, but prior to January 1, 2029, for a qualifying resident individual (individual) working in the care workforce in the amount of $1,200 for a single filer and $2,400 for 2 joint filers. To be eligible for the credit, an individual must: Have an adjusted gross income of no more than $75,000 as a single filer or $100,000 as a joint filer; and Be employed in the care workforce as a child care worker or a qualified direct care worker. To further the administration of the credit, the act: Requires the department of health care policy and financing, on or before September 30, 2025, and each September 30 thereafter, to provide the department of revenue an electronic report of the name and federal employer identification number of every long-term care employer that employs one or more direct care workers and provides services in Colorado during the calendar year; Requires the department of early childhood, on or before January 31, 2026, and each January 31 thereafter, to provide the department of revenue with an electronic report of child care workers eligible for the credit for the preceding calendar year; and Requires, on or before January 31, 2026, and each January 31 thereafter, every long-term care employer, excluding a consumer-directed care employer for which the department of health care policy and financing is required to file the return, that employed one or more direct care workers to make an information return to the executive director of the department of revenue for the preceding calendar year and requires the information return to be filed electronically. The act imposes a penalty of $500 on long-term care employers who fail to file the return on or before January 31, unless reasonable cause is shown. For the 2024-25 state fiscal year, $47,193 is appropriated from the general fund to the division of licensing and administration in the department of early childhood for the implementation of the act. APPROVED by Governor May 31, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)

• Emily Sirota Democratic · primary
• Lorena García Democratic · primary
• Robert Rodriguez Democratic · primary
• Jeff Bridges Democratic · primary

1. May 31, 2024 Governor Signed · executive
2. May 16, 2024 Sent to the Governor · executive
3. May 16, 2024 Signed by the President of the Senate · upper
4. May 16, 2024 Signed by the Speaker of the House · lower
5. May 7, 2024 Senate Third Reading Passed - No Amendments · upper
6. May 6, 2024 Senate Second Reading Special Order - Passed - No Amendments · upper
7. May 4, 2024 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole · upper
8. May 3, 2024 Senate Committee on Finance Refer Unamended to Appropriations · upper
9. Apr 30, 2024 Introduced In Senate - Assigned to Finance · upper
10. Apr 30, 2024 House Third Reading Passed - No Amendments · lower
11. Apr 29, 2024 House Second Reading Special Order - Passed with Amendments - Committee, Floor · lower
12. Apr 26, 2024 House Committee on Appropriations Refer Amended to House Committee of the Whole · lower
13. Apr 11, 2024 House Committee on Finance Refer Amended to Appropriations · lower
14. Apr 1, 2024 House Committee on Finance Witness Testimony and/or Committee Discussion Only · lower
15. Feb 16, 2024 Introduced In House - Assigned to Finance · lower