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Legislative staff directed to draft changes to tax‑credit triggers after economists warn of risk
Summary
Legislative Council economists told the Joint Budget Committee the current trigger language for the Family Affordability Tax Credit and expanded state EITC may not prevent budget stress; the committee authorized staff to draft fixes to the trigger base year and related options.
Legislative Council economists briefed the Joint Budget Committee that the statutory triggers for the Family Affordability Tax Credit and the expanded Colorado earned income tax credit may not operate as intended if the state’s fiscal base year is weak.
Greg Sobetsky, Legislative Council chief economist, told the committee the two credits are large and that their fiscal note estimate “was right around a billion dollars in terms of reduced state revenue attributable to those credits.” Sobetsky and…
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