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Bill E.pdf

bill_e_24-0392.01.pdf
Preview of Bill E
🔗 Source: leg.colorado.gov
📊 Size: 93 KB
📄 Pages: 7 pages
⬇️ Downloads: 60

Summary

The Colorado General Assembly is considering a bill to reinstate a refundable income tax credit for income-qualified seniors to help them afford housing. The credit would be available for the 2024 income tax year and would be in different amounts for joint filers. To qualify, a senior must be 65 or older, have a federal adjusted gross income of $75,000 or less for single filers or $150,000 or less for joint filers, and not have claimed the senior property tax exemption for the 2024 property tax year. The credit amount would be $1,000 for single filers with an AGI of $25,000 or less, $1,000 for joint filers with one qualifying senior and an AGI of $50,000 or less, and $2,000 for joint filers with two qualifying seniors and an AGI of $50,000 or less, with reductions for higher incomes. Taxpayers who also qualify for property tax and rent assistance or heat assistance grants would be eligible for the full credit amount.

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Description

The Colorado General Assembly is considering a bill to reinstate a refundable income tax credit for income-qualified seniors to help them afford housing.

Technical Information

  • File Format: PDF
  • File Size: 93 KB
  • Pages: 7
  • Language: EN
  • Total Downloads: 60
  • Last Updated: 1 week ago

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