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HB22-1010

Early Childhood Educator Income Tax Credit

Concerning an income tax credit for eligible early childhood educators, and in connection therewith, making an appropriation.
Session:
2022 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

Early Childhood and School Readiness Legislative Commission. For 5 income tax years, the bill creates a refundable income tax credit for an eligible early childhood educator who:

  • Has an adjusted gross income below specified thresholds; and
  • For at least 6 months of the taxable year, holds an early childhood professional credential and is either the head of a family child care home or is 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 have fiscal agreements with the Colorado child care assistance program or meet the federal early head start or head start standards for a program. 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, or a successor department, is required to provide the department of revenue with an electronic report of each individual who held an early childhood professional credential during the previous calendar year for which the credit is allowed.


(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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