CO HB1021

Repeals the earned income tax credit (EITC) for income tax years beginning January 1, 2021, and thereafter for taxpayers filing with an individual taxpayer identification number (ITIN).

The repealed provision had allowed a 10% state EITC (relative to federal credit) for tax years 2021, increasing to 15% for tax years 2022 and beyond, for filers without valid social security numbers.

Legislative declaration states the EITC for ITIN filers creates administrative burden, circumvents federal tax code, and reduces benefits available to other eligible citizens and business owners.

Takes effect 12:01 a.m. on the day following the 90-day period after final adjournment, unless a referendum petition is filed, in which case approval by voters at the November 2022 general election is required.