HB 18-1004

House Bill 18-1004, which has been signed into law, extends a tax credit for individuals who donate money to support child care in Colorado. The bill allows taxpayers to get a credit equal to half of their donation amount and it originally applied until January 1, 2020. Now, the bill extends this benefit for five more years, helping those who contribute financially towards improving child care services in the state. This affects anyone who makes such donations and could encourage more people to support child care initiatives through tax incentives.

Official Summary

A taxpayer who makes a 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. This exemption is currently available for income tax years that commence prior to January 1, 2020. The bill extends the credit for 5 years. (Note: This summary applies to this bill as introduced.) , Read More

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