SB13-069 Summary

• Establishes a private school tuition income tax credit for tax years beginning January 1, 2014, allowing taxpayers to claim credits when private schools issue credit certificates for enrolling qualified children or offering scholarships.

• Sets credit amounts at 50% of the previous year's state average per pupil revenue (or the scholarship amount, whichever is less) for full-time private school attendance, and 25% for half-time attendance.

• Allows taxpayers who home-school qualified children to claim $1,000 if the child was previously enrolled full-time in public school, or $500 if previously enrolled half-time.

• Permits unused credits to be carried forward for up to 3 years but does not allow refunds; requires private schools to report issued credit certificates to the Department of Revenue by December 15 annually.

• Applies only to children who were enrolled in Colorado public schools before switching to private school or home-schooling, and excludes children already in private school or home-schooled before the law's effective date.