House committee hears wide-ranging tax bill to tighten credits, expand some child-care incentives; sponsors lay it over

Representatives sponsoring House Bill 12-96 described the bill as an omnibus package that updates, narrows or expands multiple Colorado tax expenditures to better match legislative intent and administrative practice.

Representative Yadira Garcia, a sponsor, told the committee the bill “modif[ies] tax expenditures to better meet their legislative intent, reduce administrative burden, and increase administrative efficiency.” She said many changes were drawn from evaluations by the Office of the State Auditor (OSA).

The bill includes a mix of policy changes and technical cleanups. Sponsors highlighted several major elements: raising the threshold for the regional home office (RHO) premium rate reduction from 2.5% to 7% of an insurer’s national workforce; extending the child-care contribution tax credit and reauthorizing the facilities investment child-care tax credit; converting a…