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Legislative Year: 2024 Change
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Bill Detail: HB24-1439

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Title Financial Incentives Expand Apprenticeship Programs
Status Introduced In House - Assigned to Finance (04/02/2024)
Bill Subjects
  • Business & Economic Development
  • Fiscal Policy & Taxes
  • Labor & Employment
House Sponsors J. Willford (D)
Senate Sponsors J. Coleman (D)
House Committee Finance
Senate Committee
Date Introduced 04/02/2024
Summary

For income tax years commencing on or after January 1, 2025, but
before January 1, 2035, section 1 of the bill creates a refundable state
income tax credit (tax credit) that an employer may claim if the employer
employs an apprentice for at least 6 months during an income tax year
and either has a registered apprenticeship program or is an
employer-partner of a registered apprenticeship program. The amount of
the tax credit is up to $6,300 for 6 months of employment plus up to
$1,050 for each consecutive additional month of employment, for a
maximum of up to $12,600 per apprentice per income tax year. An
employer may not claim a credit for:
  • More than 10 apprentices per income tax year;
  • The same apprentice for more than 24 consecutive months;
and
  • An apprentice for months when the apprentice did not
receive wages from the employer.
To claim a tax credit, an employer must submit an application for
the reservation of the tax credit and an application to receive an income
tax credit certificate to the state apprenticeship agency (SAA) in the
department of labor and employment (department). The SAA shall review
the applications for specified criteria to determine whether the employer
qualifies for the tax credit and tax credit certificate.
Section 2 ends the state income tax credit for qualified investments
made in a qualified school-to-career program for income tax years after
December 31, 2024.
Section 4 creates the scale-up grant program in the department to
start new registered apprenticeship programs or expand existing programs
in Colorado. The scale-up grant program awards grants from the money
in the scale-up grant fund, which is created in the bill. Eligible grant
recipients include employers or entities operating an apprenticeship
program and that:
  • Plan to develop and register a new registered
apprenticeship program; or
  • Currently offer a registered apprenticeship program and
plan to expand it.
The bill requires the department to collect specified data regarding
the scale-up grant program and submit a report to specified committees
of the general assembly.
Section 5 creates the qualified apprenticeship intermediary grant
program in the department to support entities that demonstrate expertise
in connecting employers or apprenticeship program participants to
registered apprenticeship programs or in convening stakeholders to
develop registered apprenticeship programs. The qualified apprenticeship
intermediary grant program awards grants from the money in the qualified
apprenticeship intermediary grant fund, which is created in the bill. An
eligible grant recipient must be a qualified apprenticeship intermediary.
The bill requires the department to collect specified data regarding
the qualified apprenticeship intermediary grant program and submit a
report to specified committees of the general assembly.

Committee Reports
with Amendments
None
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (04/11/2024) (most recent)  
Additional Bill Documents Bill Documents
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  • Past fiscal notes
  • Committee activity and documents
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