HB24-1312: State Income Tax Credit for Care Workforce

• Creates a refundable state income tax credit of $1,200 per individual ($2,400 for joint filers) for qualifying care workers for tax years 2025-2028.

• Eligibility requires adjusted gross income not exceeding $75,000 (single) or $100,000 (joint), employment as a child care worker, home health-care worker, personal care aide, certified nursing assistant, or similar role for at least 720 hours during the tax year.

• Child care workers must be registered with the Department of Early Childhood's Colorado SHINES system or work informally as family friends/neighbors providing care to children age 5 or younger.

• Long-term care employers must file annual information returns with the Department of Revenue by January 31 listing direct care workers' names, Social Security numbers, and hours worked; failure to file incurs a $500 penalty.

• Credit is repealed effective December 31, 2034; appropriates $47,193 to the Department of Early Childhood for implementation in fiscal year 2024-25.