CO HB1271

Creates a refundable state income tax credit for licensed veterinarians and registered veterinary technicians working full-time in underserved or under-resourced areas, and for buyers of veterinary practices in such areas for tax years 2026-2032.

Tax credit ranges from $5,000-$30,000 for veterinary professionals and $10,000-$200,000 for practice buyers, with aggregate certification capped at $2 million per tax year.

Requires the Department of Agriculture to promulgate rules by July 1, 2025 defining underserved areas and determining credit amounts, using recommendations from an advisory board of 12 members including veterinarians, technicians, agricultural producers, and animal welfare nonprofits.

Department of Agriculture must issue tax credit certificates within 90 days of application and provide qualified taxpayer information to the Department of Revenue; excess credits beyond tax liability are refunded rather than carried forward.

Section repeals effective December 31, 2037; act takes effect 90 days after legislative adjournment unless subject to referendum petition requiring approval at the November 2024 general election.