House Bill 25-1037, introduced on January 8, 2025, proposes a refundable state income tax credit to support licensed teachers in Colorado. This credit aims to offset expenses teachers often incur for classroom supplies, professional development, and other educational materials.
Key Provisions:
Eligibility:
Licensed teachers employed full-time in a public school for at least half of an academic year.
Credit Amount:
$1,000 for teachers employed for the equivalent of an entire academic year.
$500 for teachers employed for at least half of an academic year.
Joint Filers:
Two eligible teachers filing jointly may each claim the credit.
Summary
For income tax years commencing on or after January 1, 2025, but
before January 1, 2027, the bill allows a refundable state income tax credit, which is intended to offset the various expenses that licensed teachers often incur throughout an academic year for classroom supplies, professional development costs, supplemental educational materials, field trips, and other items that improve the quality of the educational services that they provide, to a licensed teacher who is employed as a teacher in a public school on a full-time basis for at least one-half of an academic year (eligible teacher) during the income tax year for which the credit is claimed. The amount of the credit is $1,000 for an eligible teacher who is employed for the equivalent of an entire academic year and $500 for an eligible teacher who is employed for one-half of an academic year. Two eligible teachers who file a joint income tax return may each claim the credit.
