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Bill > HB1002

CO HB1002

Increased Earned Income Tax Credit 2023

summary

Introduced
11/17/2023
In Committee
11/18/2023
Crossed Over
11/20/2023
Passed
11/20/2023
Dead
Signed/Enacted/Adopted
11/20/2023

Introduced Session

2023 First Special Session

Bill Summary

CONCERNING AN INCREASE IN THE EARNED INCOME TAX CREDIT FOR INCOME TAX YEAR 2023, AND, IN CONNECTION THEREWITH, MAKING AN APPROPRIATION.

AI Summary

This bill temporarily increases the Earned Income Tax Credit (EITC) rate from 25% to 50% of the federal EITC for Colorado resident individuals in the 2023 tax year. The increase is a reasonable method to refund a portion of the state's excess revenues for the 2022-23 fiscal year, as required by the state constitution. The bill also appropriates funds to the Department of Revenue to implement the EITC increase, including for IT system support, personnel services, and document management.

Committee Categories

Budget and Finance

Sponsors (56)

Judith Amabile (D)*,  Jennifer Bacon (D)*,  Jeff Bridges (D)*,  Kyle Brown (D)*,  Lisa Cutter (D)*,  Monica Duran (D)*,  Regina English (D)*,  Elisabeth Epps (D)*,  Rhonda Fields (D)*,  Meg Froelich (D)*,  Lorena García (D)*,  Julie Gonzales (D)*,  Tim Hernández (D)*,  Chris Kolker (D)*,  Sheila Lieder (D)*,  Mandy Lindsay (D)*,  William Lindstedt (D)*,  Janice Marchman (D)*,  Julie McCluskie (D)*,  Karen McCormick (D)*,  Jennifer Parenti (D)*,  Kevin Priola (D)*,  Naquetta Ricks (D)*,  Manny Rutinel (D)*,  Said Sharbini (D)*,  Stephanie Vigil (D)*,  Michael Weissman (D)*,  Jenny Willford (D)*,  Faith Winter (D)*,  Mary Young (D)*,  Andrew Boesenecker (D),  Janet Buckner (D),  Jessie Danielson (D),  Lindsey Daugherty (D),  Ruby Dickson (D),  Tony Exum (D),  Steve Fenberg (D),  Eliza Hamrick (D),  Chris Hansen (D),  Leslie Herod (D),  Sonya Jaquez Lewis (D),  Iman Jodeh (D),  Chris Kennedy (D),  Cathy Kipp (D),  Meghan Lukens (D),  Javier Mabrey (D),  Matt Martinez (D),  Tisha Mauro (D),  Barbara McLachlan (D),  Dafna Michaelson Jenet (D),  David Ortiz (D),  Robert Rodriguez (D),  Tammy Story (D),  Tom Sullivan (D),  Brianna Titone (D),  Elizabeth Velasco (D), 

Last Action

Sent to the Governor (on 11/20/2023)

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Document Type Source Location
State Bill Page https://leg.colorado.gov/bills/hb23b-1002
BillText https://leg.colorado.gov/sites/default/files/documents/2023B/bills/2023b_1002_enr.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2023B/bills/2023b_1002_rer.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2023B/bills/2023b_1002_rev.pdf
House Appropriations Amendment J.001 https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2023B/amendments/DE6BF5F7A2F84BFB87258A6B0006AFBA/HB1002_J.001.pdf
Fiscal Note FN3 https://leg.colorado.gov/sites/default/files/documents/2023B/bills/fn/2023b_hb23b-1002_r2.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2023B/bills/2023b_1002_ren.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2023B/bills/2023b_1002_eng.pdf
House Appropriations Amendment L.010 https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2023B/amendments/0045334F7952FBB287258A6A007DFB3E/HB1002_L.010.pdf
House Finance Amendment L.003 https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2023B/amendments/14E08FD061BD301C87258A6A00583C9D/HB1002_L.003.pdf
House Finance Amendment L.009 https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2023B/amendments/5B90E604E155CE6487258A6A0066FEF4/HB1002_L.009.pdf
House Finance Amendment L.001 https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2023B/amendments/969500704371E5E487258A6A00583641/HB1002_L.001.pdf
House Finance Amendment L.007 https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2023B/amendments/C49C6FB8CD45F4D587258A6A005D0C2F/HB1002_L.007.pdf
Fiscal Note FN2 https://leg.colorado.gov/sites/default/files/documents/2023B/bills/fn/2023b_hb23b-1002_r1.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2023B/bills/2023b_1002_01.pdf
Fiscal Note FN1 https://leg.colorado.gov/sites/default/files/documents/2023B/bills/fn/2023b_hb23b-1002_00.pdf
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