HB 26-1004

House Bill 26-1004 extends a tax credit for people who donate money to support child care programs in Colorado. This means that if you give money to help with child care, the state will give you back 50% of what you donated as a tax credit, up to $100,000. The bill has been signed into law and is now active, so this tax benefit will continue for another ten years beyond its original expiration date. This affects anyone who makes qualifying donations to child care initiatives in the state.

Official Summary

Under current law, for income tax years commencing prior to January 1, 2028, a taxpayer who makes a qualifying monetary contribution to promote child care in the state is allowed an income tax credit that is equal to 50% of the total value of the contribution, not to exceed $100,000. The bill extends this tax credit for 10 years.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

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