This article is part of our look at potential refunds from the Taxpayer's Bill of Rights. Learn more about how TABOR works here.
Title: HB15-1195 Commencement Of The Earned Income Tax Credit
Sponsors: Rep. Daniel Kagan (D-Cherry Hills Village)
Status: Introduced and assigned to the House Finance and Appropriations committees on Jan 30. The Finance Committee killed the bill on April 29.
What the bill would have done: Several years ago, Colorado lawmakers created a state Earned Income Tax Credit for low and moderate income families, valued at up to 10 percent of the federal EITC. However, the state won't start paying out that credit until the first year there's a TABOR surplus. This bill would have removed the surplus trigger and requires Colorado to start sending EITC refunds to qualifying taxpayers this year.
How it would have affected your refund: This bill would reduce the average taxpayer refund by $13.74 in fiscal year 2015-16.
