s_fin_2016a_2016-05-06t11:12:26z2 Hearing Summary

Date: 05/06/2016

The committee took a brief recess.



11:26 AM -- HB16-1301



The reengrossed version of House Bill 16-1301 provides a state income tax credit to taxpayers that employ workers that are either preparing for or participating in a qualified residency, pre-apprenticeship or an apprenticeship program. The credit is available for tax years 2018 through 2020 and is capped at $1 million per tax year and $3 million in total. An employer may receive up to $2,500 for each resident or individual in a construction industry pre-apprenticeship program and $5,000 for each apprentice or individual in an industry apprenticeship program. The credit is nonrefundable and may be carried forward for five years.