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SB24-044

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.
Session:
2024 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

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.)

Status

Introduced
Under Consideration

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Sen. C. Hansen, Sen. C. Kolker
Rep. E. Hamrick, Rep. C. Kipp

Sponsor

Co-sponsor

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