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Bill Detail: HB20-1298

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Title Treat Economic Development Income Tax Credits Differently
Status House Committee on Business Affairs & Labor Refer Unamended to Finance (03/11/2020)
Bill Subjects
  • Business & Economic Development
House Sponsors T. Kraft-Tharp (D)
D. Esgar (D)
Senate Sponsors L. Garcia (D)
J. Tate (R)
House Committee Business Affairs and Labor
Senate Committee
Date Introduced 02/13/2020
Description

Current law allows the Colorado economic development
commission to allow, subject to an annual maximum program amount,
certain businesses that make a $100 million strategic capital investment

in the state, and subject to the requirements of the specified income tax
credits, to treat any of the following income tax credits allowed to the
business as either carry forwardable for a 5-year period or transferable:
  • Colorado job growth incentive tax credit;
  • Enterprise zone income tax credit for investment in certain
property;
  • Income tax credit for new enterprise zone business
employees; and
  • Enterprise zone income tax credit for expenditures for
research and experimental activities.
This bill extends this program for another 3 years.

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