summary
Introduced
02/17/2023
02/17/2023
In Committee
04/03/2023
04/03/2023
Crossed Over
Passed
Dead
05/08/2023
05/08/2023
Introduced Session
2023 Regular Session
Bill Summary
For income tax years commencing on or after January 1, 2023, but before January 1, 2027, the bill allows a refundable state income tax credit, which is intended to offset the various expenses that licensed teachers often incur throughout an academic year for classroom supplies, professional development costs, supplemental educational materials, field trips, and other items that improve the quality of the educational services that they provide, to a licensed teacher who is employed as a teacher in a public school on a full-time basis for at least one-half of an academic year (eligible teacher) during the income tax year for which the credit is claimed. The amount of the credit is $1,000 for an eligible teacher who is employed for the equivalent of an entire academic year and $500 for a teacher who is employed for one-half of an academic year. Two eligible teachers who file a joint income tax return may each claim the credit.
AI Summary
This bill allows a refundable state income tax credit of up to $1,000 for income tax years 2023 through 2026 for eligible teachers (those employed full-time for at least half an academic year) in public schools. The credit is intended to offset the various expenses that teachers often incur, such as for classroom supplies, professional development, and educational materials. Two eligible teachers who file a joint return can each claim the credit. The purpose of the tax credit is to provide tax relief for eligible teachers, and the effectiveness will be measured based on the number and value of credits claimed.
Committee Categories
Education
Sponsors (5)
Last Action
House Committee on Appropriations Lay Over Unamended - Amendment(s) Failed (on 05/11/2023)
Bill Topics
Education
- ‐ Education Excellence
- ‐ Elementary and Secondary Education
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://leg.colorado.gov/bills/hb23-1208 | 02/17/2023 |
| Fiscal Note FN1 | https://leg.colorado.gov/sites/default/files/documents/2023A/bills/fn/2023a_hb1208_00.pdf | 03/22/2023 |
| BillText | https://leg.colorado.gov/sites/default/files/documents/2023A/bills/2023a_1208_01.pdf | 02/17/2023 |
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