HB24-1325 Summary

• Creates two new tax credit programs to support Colorado's quantum technology industry: a fixed capital asset investment credit for shared quantum facilities and a quantum business loan loss reserve credit for lenders financing quantum companies.

• Establishes a $44 million cap on fixed asset investment tax credit reservations and a $30 million cap on quantum business loan loss tax credit certificates, both requiring a Colorado-based entity to receive a multi-million dollar federal grant from the Economic Development Administration.

• The fixed capital asset credit allows qualified applicants to invest in quantum facilities through 2031, with tax credits available through 2033, including support for translational research, manufacturing, fabrication, and workforce development related to quantum technology.

• The loan loss credit incentivizes lenders (banks, funds, etc.) to make loans to early-stage or growth-stage quantum companies with annual revenue under $100 million, offering up to 15 cents tax credit per dollar of eligible loan, with credits claimable through 2045.

• Both credits are fully refundable if they exceed income tax liability, include reporting requirements to the General Assembly, and sunset December 31, 2050; appropriates $90,255 to the Office of the Governor for administration.