HB 26-1014

HB 26-1014 extends a tax credit program called the Colorado Job Growth Incentive Tax Credit, which helps businesses by reducing their state income taxes if they create new jobs. The bill allows this tax credit to continue until 2034 instead of ending in 2026 as previously planned. This affects businesses that are looking to expand and hire more workers in the state. Since the bill has been signed, it is now law and companies can apply for these tax credits through 2034.

Official Summary

Under current law, the Colorado job growth incentive tax credit (credit) may only be allowed by the economic development commission (commission) through state income tax year 2026. The bill amends the Colorado job growth incentive tax credit to authorize the commission to allow new credit awards through state income tax year 2034.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

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