HB 24-1271

  • Colorado House Bill
  • 2024 Regular Session
  • Introduced in House Feb 13, 2024
  • House
  • Senate
  • Governor

State Income Tax Credit for Veterinary Professional

Abstract

For income tax years commencing on or after January 1, 2026, but before January 1, 2033, the bill creates a new refundable state income tax credit for a qualified licensed veterinarian and a registered veterinary technician (veterinary professional) working full-time in an underserved area or under-resourced area (underserved area) and for a buyer of a veterinary practice in an underserved area. The department of agriculture (department) is required to certify tax credits for eligible veterinary professionals and buyers of a veterinary practice in an underserved area in an amount not to exceed, in aggregate, $2 million in any tax year. No later than July 1, 2025, the department is required to promulgate rules for issuing a tax credit certificate to an eligible veterinary professional working full-time in an underserved area and for a buyer of a veterinary practice in an underserved area using the recommendations of an advisory board (board) that consists of 3 licensed veterinarians, 3 registered veterinary technicians, 3 agricultural animal producers, and 3 representatives from animal welfare nonprofits chosen by the commissioner of agriculture. The department must promulgate rules that include criteria for the determination of which geographic areas of the state fall within the definition of an underserved or under-resourced area. The department must also promulgate rules that determine a mechanism to determine the tax credit amount the department is able to certify to an eligible veterinary professional working full-time in an underserved area that is no less than $5,000 and no more than $30,000 and to a buyer of a veterinary practice in an underserved or under-resourced area that is no less than $10,000 and no more than $200,000. (Note: This summary applies to this bill as introduced.)

Bill Sponsors (1)

Votes


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Actions


Apr 10, 2024

House

House Committee on Finance Refer Amended to Appropriations

  • Referral-Committee
Appropriations Finance

House

House Committee on Finance Reconsider to Finance

Finance

Apr 08, 2024

House

House Committee on Finance Postpone Indefinitely

Finance

Mar 25, 2024

House

House Committee on Agriculture, Water & Natural Resources Refer Amended to Finance

  • Referral-Committee
Finance

Feb 13, 2024

House

Introduced In House - Assigned to Agriculture, Water & Natural Resources

  • Introduction
Agriculture, Water & Natural Resources

Bill Text

Bill Text Versions Format
Introduced (02/13/2024) PDF
PA1 (04/12/2024) PDF
PA2 (04/12/2024) PDF
Committee Amendment PDF

Related Documents

Document Format
Fiscal Note FN1 (03/20/2024) PDF
Fiscal Note FN2 (04/01/2024) PDF
Fiscal Note FN3 (04/18/2024) PDF

Sources

Data on Open States is updated periodically throughout the day from the official website of the Colorado General Assembly.

If you notice any inconsistencies with these official sources, feel free to file an issue.