Section 2 of the bill requires the general assembly, for fiscal year
2023-24 through fiscal year 2030-31, to annually transfer $1 million to the prevention services division (division) within the department of public health and environment. The bill requires the division to use this money to partner with a statewide nonprofit organization to provide healthy eating program incentives among Colorado's low-income populations. Section 3 requires individual taxpayers to add an amount of
federal taxable income equal to their federal deduction for business meals to their state income tax liability for the 2024 through 2030 income tax years. Section 4 requires the same of corporate taxpayers. Section 6 requires the general assembly to transfer the following amounts from the general fund to the department of agriculture to implement the small business recovery and resilience grant program (grant program):
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For fiscal years 2023-24 and 2030-31, $2.5 million; and
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For fiscal years 2024-25 through 2029-30, $5 million.
Section 6 also extends the repeal date of the grant program from September 1, 2027 to September 1, 2031. Section 5 creates a tax credit for small food retailers and small
family farms that purchase certain systems or equipment. The tax credit is equal to 75% of the cost of those systems or equipment. Purchasers may assign the tax credit to the seller who sells them the qualifying systems or equipment. The tax credit is available for the 2024 through 2030 tax years.
