OEDIT is seeking stakeholder input on HB22-1418 Extension Of Certain Unused Tax Credits concerning the extension of the period for which unused and expiring colorado Job Growth Incentive (JGTIC) and Enterprise Zone (EZ) income tax credits may be carried forward to subsequent years. Review HB22-1418 Extension Of Certain Unused Tax Credits, (PDF).
Businesses that provide a strong economic benefit to the state from existing operations, in a “Strategic Industry”) with substantial expiring JGTIC or EZ tax credits in tax years 2021 through 2025, and experienced a significant financial hardship as a result of the COVID-19 pandemic.
This meeting is intended to be the first step toward satisfying the statutory language directing OEDIT to “consult with potential applicants” as part of a process including the Colorado Economic Development Commission (EDC) determining any “additional appropriate policies, procedures, requirements, and deadlines to administer the application process and extension approvals, which may include additional verification procedures to demonstrate that applicants are making bonafide requests for the five-year extension.”
Taking this input into account, OEDIT will propose the policies, procedures, requirements, and deadlines for this limited program to the EDC for discussion and approval. Public comments will be taken at this meeting and via email before the scheduled EDC meeting for the morning January 19th, 2023 where additional public comments will be allowed..
When: December 12th, 2022 at 9:00 a.m. to 11:00 a.m. MT
Where: To join this public comment meeting virtually register for the HB22-1418 Public Comment Zoom Meeting. Registration will close on 12/9 at 5:00pm MT.
Email Comments can be sent to: oedit_bfi-i@state.co.us. Email comment period will close on 1/4/2023 at 5:00pm MT.
Draft policies and guidelines will be created soon and can be found on this page.