CO HB1014

HB 26-1014: Extend Colorado Job Growth Incentive Tax Credit

• Extends the Colorado Job Growth Incentive Tax Credit from the current expiration date of tax year 2026 to tax year 2034, allowing the Economic Development Commission to approve new credit awards for an additional 8 years

• Extends the commission's annual reporting requirement to the Department of Revenue from September 1, 2024 to September 1, 2032

• Delays the full repeal of the tax credit statute from July 1, 2042 to July 1, 2059

• Adds a tax preference performance statement declaring the credit's purpose is to incentivize creation of new jobs in Colorado, with effectiveness measured by the number of new jobs created and the value of credits allowed annually