By Joe Mueller | The Center Square
A refundable state income tax credit, estimated at reducing Colorado’s tax revenue by approximately $38 million, can now be used to pay for tuition and fees at Colorado’s higher education institutions.
House Bill 24-1430, signed into law by Gov. Jared Polis on Thursday, creates the tax credit to encourage Colorado high school graduates to enroll in the state’s higher education institutions. A student enrolled in a public state institution of higher education, community college, technical school or occupational educational school can receive the tax credit for income tax years 2025 through 2032.
The bill with amendments passed unanimously in the House on May 8, the last day of the 2024 legislative session, after passing 28-5 in the Senate earlier in the day.