HB 13-1265 Summary

• Modifies enterprise zone income tax credits for business facility employees, adding sunset provisions requiring repeal by December 31, 2019 for the original statute and creating a replacement provision effective January 1, 2014.

• Provides $500 annual tax credit per employee in enterprise zones and $2,000 per employee in enhanced rural enterprise zones, prorated by months employed.

• Allows additional $200 (or $1,000 under amended provision) credit for first two years if employer provides health insurance covering at least 50% of costs.

• Permits $500 additional credit per employee exceeding prior year maximum for agricultural value-adding businesses in both regular and enhanced rural enterprise zones.

• Credits may be carried forward up to 5 years for standard credits and 7 years for enhanced rural zone credits, with unused amounts non-refundable to taxpayers.