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HB19-1005

Income Tax Credit For Early Childhood Educators

Concerning an income tax credit for certain early childhood educators.
Session:
2019 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

The bill provides an income tax credit to eligible early childhood educators who hold an early childhood professional credential and who, for at least 6 months of the taxable year, are either the head of a family child care home or are employed with an eligible early childhood education program or a family child care home. The bill specifies that an early childhood education program must have achieved at least a level 2 quality rating under the Colorado shines quality rating and improvement system and either has fiscal agreements with the Colorado child care assistance program or is a program that meets the federal early head start or head start standards. The amount of the credit is dependent on the eligible early childhood educator's credentialing level and is annually adjusted for inflation. The department of human services is required to provide to the department of revenue an annual report of each individual who held an early childhood professional credential during the previous calendar year for which the income tax credit is allowed.

The bill takes effect only if, at the November 2019 statewide election, a majority of voters do not approve a referred measure that allows the state to increase the cigarette tax, increase the tobacco products tax, and to create a new tax on nicotine products and use a significant portion of the tax revenue for preschool programs and expanded learning opportunities.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed
Became Law

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