CO HB1298

Extends the program allowing the Colorado Economic Development Commission to issue precertifications to businesses making $100 million strategic capital investments through June 30, 2023 (previously set to expire June 30, 2020).

Businesses with precertifications may treat four types of income tax credits as either carry-forwardable for 5 years or transferable: Colorado Job Growth Incentive Tax Credit, Enterprise Zone Income Tax Credit for Investment in Property, Income Tax Credit for New Enterprise Zone Business Employees, and Enterprise Zone Income Tax Credit for Research and Experimental Activities.

Allows the commission to issue second or third precertifications to the same business in subsequent twelve-month intervals for the same strategic capital investment, even if the investment has already been initiated or completed.

Businesses may elect by written filing how to treat allowed income tax credits once they meet the requirements under the statutory sections pertaining to each credit.

Includes a safety clause declaring the act necessary for immediate preservation of public peace, health, or safety.