CO HB1004

Extends Colorado's child care contribution income tax credit for 10 years, changing the expiration from January 1, 2028 to January 1, 2038

Credit equals 50% of qualifying monetary contributions to promote child care in the state, with a maximum credit of $100,000

Tax credit has existed since 1998; in 2022, approximately 18,000 Coloradans benefited and the program generated $60 million for child care providers

Removes requirement for Department of Revenue to consult with various agencies to study improvements and develop recommendations for the tax credit

Full repeal date of the statute extended from January 1, 2035 to January 1, 2045