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B44B30B05513924B8725895F0066504E Hearing Summary




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.






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