This new bill gives companies a state income tax credit for bringing new jobs to Colorado. Companies must demonstrate that without this new financial incentive they would not have been able to do business in Colorado. Companies must bring at least 20 new jobs to the state.
Tax credits in the amount of 3.8 percent will be refunded to qualified applicants. Colorado state income tax is 4.63 percent. More than fifty state senators and representatives presented the bill, including Rep. Kefalas and Sen. Bacon from Fort Collins.