CO HB1128

Increases the maximum wildfire mitigation measures tax deduction from $2,500 to $5,000 for married taxpayers filing jointly.

Raises the qualifying maximum gross adjusted income threshold for the child care expense tax credit from $60,000 to $120,000 for married taxpayers filing jointly.

Increases the qualifying maximum income threshold for the low-income child care expense tax credit from $25,000 to $50,000 for married taxpayers filing jointly.

Establishes legislative findings that married individuals filing jointly receive unequal treatment compared to individual filers and that this penalty undermines state policy encouraging marriage and procreation.

Takes effect 90 days after final adjournment of the general assembly, or upon voter approval at the November 2024 general election if subject to a referendum petition.