Bill > HB1014

This bill extends the Colorado Job Growth Incentive Tax Credit, a program administered by the Economic Development Commission (commission) that provides a tax credit to employers for creating or retaining jobs in Colorado. The key provision is that the commission will be authorized to award new credits through state income tax year 2034, an extension from the previous expiration date. The bill also includes a "Tax Preference Performance Statement" that clarifies the purpose of the credit is to incentivize new job creation and mandates that the General Assembly and State Auditor measure its effectiveness based on the number of new jobs created and the value of credits awarded. Additionally, reporting requirements for the commission are extended through September 1, 2032, and the repeal date for the entire section is pushed back to July 1, 2059.

Budget and Finance

https://leg.colorado.gov/bills/HB26-1014