HB 1014

NOTE: This bill has been prepared for the signatures of the appropriate legislative
officers and the Governor. To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
history, or the Session Laws.
     HOUSE BILL 26-1014
     BY REPRESENTATIVE(S) Taggart and Boesenecker, Bacon, Brown,
     Clifford, Duran, Froelich, Gonzalez R., Hamrick, Jackson, Joseph, Lieder,
     Lindsay, Lukens, Nguyen, Paschal, Rutinel, Rydin, Soper, Titone,
     McCluskie, Caldwell, Camacho, English;
     also SENATOR(S) Frizell and Ball, Amabile, Carson, Cutter, Exum,
     Gonzales J., Jodeh, Kipp, Kolker, Lindstedt, Pelton B., Pelton R., Roberts,
     Simpson, Wallace, Coleman.
     CONCERNING AN EXTENSION OF THE COLORADO JOB GROWTH INCENTIVE
          TAX CREDIT THROUGH STATE INCOME TAX YEAR 2034.
     Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1. In Colorado Revised Statutes, 39-22-531, amend (2),
     (10) introductory portion, and (13); and add (1.5) as follows:
            39-22-531. Colorado job growth incentive tax credit - definitions
     - tax preference performance statement - legislative declaration - rules
     - repeal.
             (1.5) Tax preference performance statement.
     ________
     Capital letters or bold & italic numbers indicate new material added to existing law; dashes
     through words or numbers indicate deletions from existing law and such material is not part of
     the act.
       (a) IN ACCORDANCE WITH SECTION 39-21-304 (1), WHICH REQUIRES
EACH BILL THAT EXTENDS AN EXPIRING TAX EXPENDITURE TO INCLUDE A
TAX PREFERENCE PERFORMANCE STATEMENT AS PART OF A STATUTORY
LEGISLATIVE DECLARATION, THE GENERAL ASSEMBLY FINDS AND DECLARES
THAT THE PURPOSE OF THE CREDIT PROVIDED FOR IN THIS SECTION IS TO
CREATE OR RETAIN JOBS BY ALLOWING CERTAIN EMPLOYERS TO RECEIVE A
CREDIT AGAINST INCOME TAX IF CERTAIN CRITERIA ARE MET. SPECIFICALLY,
THIS TAX EXPENDITURE IS INTENDED TO INCENTIVIZE THE CREATION OF NEW
JOBS IN THE STATE OF COLORADO.
       (b) THE GENERAL ASSEMBLY AND THE STATE AUDITOR SHALL
MEASURE THE EFFECTIVENESS OF THE CREDIT IN ACHIEVING THE PURPOSES
SPECIFIED IN SUBSECTION (1.5)(a) OF THIS SECTION BASED ON THE NUMBER
OF NEW JOBS CREATED AND THE VALUE OF THE CREDITS ALLOWED AND
MADE AVAILABLE ANNUALLY TO TAXPAYERS.
       (2) For income tax years commencing on or after January 1, 2009,
but prior to January 1, 2027 JANUARY 1, 2035, at the discretion of the
commission as specified in subsection (3) of this section, there may be
allowed to any taxpayer an annual job growth incentive tax credit with
respect to the income taxes imposed by this article that a taxpayer may
claim for a credit period in an amount determined by the commission
pursuant to subsection (5) of this section.
       (10) No later than September 1, 2010, and no later than September
1 of each year thereafter through September 1, 2024 SEPTEMBER 1, 2042,
the commission shall provide the department with an electronic report of the
taxpayers receiving a credit allowed in this section for the preceding
calendar year or any fiscal year ending in the preceding calendar year, and
any credits disallowed pursuant to subparagraph (II) of paragraph (a) of
subsection (4) of this section for any year, that includes the following
information:
       (13) This section is repealed, effective July 1, 2042 JULY 1, 2059.
       SECTION 2. Act subject to petition - effective date. This act
takes effect at 12:01 a.m. on the day following the expiration of the
ninety-day period after final adjournment of the general assembly (August
12, 2026, if adjournment sine die is on May 13, 2026); except that, if a
referendum petition is filed pursuant to section 1 (3) of article V of the state
PAGE 2-HOUSE BILL 26-1014
constitution against this act or an item, section, or part of this act within
such period, then the act, item, section, or part will not take effect unless
approved by the people at the general election to be held in November 2026
and, in such case, will take effect on the date of the official declaration of
the vote thereon by the governor.
____________________________  ____________________________
Julie McCluskie  James Rashad Coleman, Sr.
SPEAKER OF THE HOUSE  PRESIDENT OF
OF REPRESENTATIVES  THE SENATE
____________________________  ____________________________
Vanessa Reilly  Esther van Mourik
CHIEF CLERK OF THE HOUSE  SECRETARY OF
OF REPRESENTATIVES  THE SENATE
       APPROVED________________________________________
                          (Date and Time)
                    _________________________________________
                   Jared S. Polis
                   GOVERNOR OF THE STATE OF COLORADO
PAGE 3-HOUSE BILL 26-1014