HB 24-1116

House Bill 24-1116 extends for five more years a state income tax credit that helps people who clean up contaminated land. This means taxpayers can get a credit on their taxes if they spend money cleaning up polluted property, and this benefit will now last until January 1, 2030. The bill has been signed by the governor and will take effect on August 7, 2024, so people who qualify can start using it after that date.

Official Summary

The act extends for an additional 5 years the availability of the state income tax credit allowed to a taxpayer for an approved environmental remediation of contaminated property, through income tax years commencing prior to January 1, 2030. APPROVED by Governor June 4, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)

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