CO HB1045

Repeals the contingency requirement that prevented Colorado's child tax credit from being claimed until Congress enacted the "Marketplace Fairness Act of 2013" or substantially similar legislation.

Allows resident individuals to claim the child tax credit against Colorado state income taxes for tax years beginning on or after January 1, 2016, if they claim the federal child tax credit for an eligible child.

The credit is calculated as a percentage of the federal child tax credit based on the taxpayer's income.

Takes effect 90 days after the general assembly's final adjournment (August 10, 2016, if sine die is May 11, 2016), or upon voter approval if a referendum petition is filed.