Colorado § 39-22-517 Tax credit for child care center investments - repeal

Colorado Statutes

§ 39-22-517 — Tax credit for child care center investments - repeal

Colorado·Title 39 Taxation·Art. Income Tax

(1)With respect to taxable years commencing on or after January 1, 1992, and prior to January 1, 2029, there is allowed to any person operating a child care center licensed pursuant to section 26-6-905 or 26.5-5-309, family child care home licensed pursuant to section 26.5-5-309, or foster care home licensed pursuant to section 26-6-905 a credit against the tax imposed by this article 22 in the amount of twenty percent of the taxpayer's annual investment in tangible personal property to be used in such child care center, family child care home, or foster care home.

(2)With respect to taxable years commencing on or after July 1, 1992, and prior to January 1, 2029, there is allowed to any sole proprietorship, partnership, limited liability corporation, subchapter S corporation,

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(1) With
respect to taxable years commencing on or after January 1, 1992, and prior to
January 1, 2029, there is allowed to any person operating a child care center
licensed pursuant to section 26-6-905 or 26.5-5-309, family child care home
licensed pursuant to section 26.5-5-309, or foster care home licensed pursuant to
section 26-6-905 a credit against the tax imposed by this article 22 in the amount
of twenty percent of the taxpayer's annual investment in tangible personal
property to be used in such child care center, family child care home, or foster care
home.

(2) With respect to taxable years commencing on or after July 1, 1992, and
prior to January 1, 2029, there is allowed to any sole proprietorship, partnership,
limited liability corporation, subchapter S corporation, or regular corporation that
provides child care facilities that are incidental to their business and are licensed
pursuant to section 26-6-905 or 26.5-5-309 for the use of its employees a credit
against the tax imposed by this article 22 in the amount of ten percent of the
taxpayer's annual investment in tangible personal property to be used in such child
care facilities.

(3) The credit allowed by this section for any income tax year shall not
exceed the taxpayer's actual tax liability for such taxable year. If the amount of the
credit allowed by this section exceeds the taxpayer's actual tax liability for any
income tax year in which the child care center investment credit is claimed, referred
to in this subsection (3) as the unused credit year, such excess shall be an
investment tax credit carryover to each of the three income tax years following the
unused credit year and shall be applied first to the earliest income tax years
possible.

(4) This section is repealed, effective December 31, 2036.

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Legislative History

Source: L. 92: Entire section added, p. 2245, � 1, effective June 5. L. 96: (1) amended, p. 267, � 22, effective July 1. L. 2022: (1) and (2) amended, (HB 22-1295), ch. 123, p. 868, � 130, effective July 1; (1) and (2) amended, (HB 22-1025), ch. 145, p. 947, � 10, effective January 1, 2023. L. 2024: (1) and (2) amended and (4) added, (HB 24-1036), ch. 373, p. 2527, � 11, effective August 7. L. 2025: (1), (2), and (4) amended, (HB 25-1296), ch. 202, p. 913, � 9, effective May 16.