Public Employees' Retirement Association Retiree Refundable Income Tax Credit
Concerning the creation of a refundable income tax credit for qualifying public employees' retirement association retirees.
2024 Regular Session
Fiscal Policy & Taxes
Pension Review Commission. The bill creates a refundable income tax credit that is available for income tax years commencing on or after January 1, 2024, but prior to January 1, 2026, for a qualifying public employees' retirement association retiree, which means a full-time Colorado resident individual who:
Is 65 years of age or older at the end of the 2024 or 2025 income tax year; and
Has an annual gross income of no more than $38,000 as a single filer or $76,000 as a joint filer. (Note: This summary applies to this bill as introduced.)
* Amendments passed in committee are not incorporated into the measure unless adopted by the full House or Senate.
** The status of Second Reading amendments may be subsequently affected by the adoption of an amendment to the Committee of the Whole Report. Refer to the House or Senate Journal for additional information.
Senate Committee on Finance Refer Amended to Appropriations