CO HB1227

Creates an income tax credit for Colorado employers who make direct payments on qualified employee student loans during a 12-month credit period, calculated at 50% of payments made.

Eligible employees must be Colorado residents earning less than $60,000 annually, working full-time, and holding an associate or bachelor's degree in science, technology, engineering, mathematics, or a vocational certificate in industry, manufacturing, or information technology from a Colorado institution.

Limits tax credits to $5,000 per employee per year and $200,000 per employer per year, unless the Colorado Economic Development Commission grants a waiver.

Sets statewide cap of $2 million in credit certificates per income tax year, with unused amounts from 2016-2018 available for issuance in 2019, and up to $6 million total available through the entire program.

Credit is available for income tax years 2016-2019 and expires December 31, 2023; unused credits may be carried forward up to five years if they exceed current year tax liability.