HB23-1018 Summary

• Creates timber, forest health, and wildfire mitigation industries workforce development program in the Colorado State Forest Service providing partial reimbursement to qualifying businesses and entities for hiring interns, with reimbursement up to 50% of actual employment costs per intern.

• Requires forest service to establish rules by January 1, 2024 including internship qualification criteria (minimum 130 hours, maximum 6 months), recruiting best practices for historically underrepresented communities, and reimbursement procedures, with maximum of 3 internships reimbursed per entity per fiscal year.

• Establishes state income tax credit for tax years 2023-2027 allowing 20% credit on qualifying equipment, vehicles, and infrastructure purchases used in forestry, logging, timber production, wood products manufacturing, and forest health/wildfire mitigation activities, capped at $10,000 per year per taxpayer.

• Allows unused tax credits to carry forward for up to 5 years but prohibits refunds of excess credits; prioritizes Colorado-produced and electric-powered equipment when available.

• Tax credit section repeals July 1, 2036; act takes effect 90 days after adjournment unless subject to referendum petition requiring voter approval in November 2024.