summary
Introduced
11/17/2023
11/17/2023
In Committee
11/18/2023
11/18/2023
Crossed Over
11/20/2023
11/20/2023
Passed
11/20/2023
11/20/2023
Dead
Signed/Enacted/Adopted
11/20/2023
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)
Official Document
bill text
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bill summary
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