Treat Economic Development Income Tax Credits Differently

The bill allows the Colorado economic development commission to allow certain businesses that make a strategic capital investment in the state, subject to a maximum amount, and subject to the requirements of the specified income tax credits, to treat any of the following income tax credits allowed to the business as either carryforwardable for a five-year period or as transferable:

• Colorado job growth incentive tax credit;
• Enterprise zone income tax credit for investment in certain property;
• Income tax credit for new enterprise zone business employees; and
• Enterprise zone income tax credit for expenditures for research and experimental activities.
  (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)