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PUBLIC
BILL SUMMARY For HB23-1128

HOUSE COMMITTEE ON FINANCE
Date Feb 23, 2023       Location HCR 0112

HB23-1128 - Lay Over


11:37:34 AM  
Representative Weinberg, prime bill sponsor, presented House Bill 23-1128, concerning certain income tax credits and deductions for married taxpayers.  The bill changes certain income tax credits and deductions for married taxpayers who file a joint return.  Specifically, the bill:

- raises the qualifying maximum income threshold for the child care expense tax credit from $60,000 to $120,000;
- raises the qualifying maximum income threshold for the low-income child care expense tax credit from $25,000 to $50,000; and

- increases the maximum amount of the wildfire mitigation measures tax deduction from $2,500 to $5,000.

Representative Weinberg provided a handout to the committee (Attachment D).  He responded to questions from the committee.
11:44:23 AM  
Greg Sobetski, Legislative Council Staff, responded to questions from the committee about the bill's fiscal note.  Representative Weinberg responded to questions from the committee.  Mr. Sobestski responded to additional questions from the committee.
11:50:14 AM  
Caroline Nutter, representing the Colorado Fiscal Institute, testified in opposition to the bill. Ben Murrey, representing the Independence Institute, testified in a neutral position on the bill. The panelists responded to questions from the committee.
12:06:35 PM  
Representative Weinberg discussed laying the bill over.  The chair laid the bill over for action only to a future date.