CO HB1203

Increases Colorado's earned income tax credit from 10% to 20% of the federal earned income tax credit for tax years beginning January 1, 2021.

Eliminates the requirement that Congress enact the "Marketplace Fairness Act" before the state child tax credit can be claimed, allowing the credit to be claimed beginning in 2021.

Requires taxpayers to add back the federal qualified business income deduction (Section 199A) to their Colorado taxable income for tax years beginning January 1, 2021 through December 31, 2025.

Designed to be revenue neutral or result in modest revenue decrease by expanding refundable credits for working families while offsetting costs through the qualified business income add-back provision.

Enacts the "Helping Colorado Families Get Ahead Act" and does not directly cause a net tax revenue gain, therefore avoiding the need for voter approval under the state constitution.