House Bill 1295: Income Tax Credits for Nonpublic Education

Colorado
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Last Updated: March 2, 2010
House Bill 1295: Income Tax Credits for Nonpublic Education
Sponsors:
Representative Lambert and Senator Lundberg
Summary:

This bill creates an income tax credit for parents who remove their children from public school in order to homeschool them or enroll them in a private school.

The bill establishes a private school tuition income tax credit for income tax years commencing on or after January 1, 2011, that allows any taxpayer to claim a credit when a private school issues the taxpayer a credit certificate for enrolling a dependent qualified child in the private school or offers a scholarship to a qualified child for enrollment in the private school. This section allows the credit to be carried forward for three years but not be refunded and grants the Department of Revenue rule-making authority.

The amount of the credit is: For any qualified child attending a private school on a full-time basis as described in the state Board of Education rules, either an amount equal to the scholarship offered to a qualified child or 50% of the previous year's state average per pupil revenue, whichever is less; and for any qualified child attending a private school on a half-time basis as described in the state Board of Education rules, either an amount equal to the scholarship offered to a qualified child or 25% of the previous year's state average per pupil revenue, whichever is less.

Section 4 of the bill establishes an income tax credit for taxpayers who decide to homeschool a qualified child, commencing on or after January 1, 2011, that allows any taxpayer who decides to homeschool a qualified child to claim an income tax credit:

  • In an amount equal to $500 for a taxpayer who homeschools a qualified child who was enrolled on a half-time basis as described in the state Board of Education rules in a public school in the state prior to being homeschooled;
  • In an amount equal to $1,000 for a taxpayer who homeschools a qualified child who was enrolled on a full-time basis as described in the state Board of Education rules in a public school in the state prior to being homeschooled. This section allows the credit to be carried forward for 3 years but not refunded.
HSLDA's Position:
Support.
Action Requested:
None at this time
Status:

2/5/2010 (House) Introduced and assigned to Finance
2/24/2010 Hearing scheduled
2/24/2010 House Committee on Finance postponed indefinitely
Died in Committee

 Other Resources

Bill Text

Bill History