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March 4, 2024

Legislation to Increase Tax Credit Accessibility Passes Committee

DENVER, CO - The House Finance Committee today passed a bill sponsored by Representatives Manny Rutinel and Emily Sirota that would increase accessibility to tax credits that save Coloradans cash. HB24-1288 passed by a vote of 6-5.

“The Earned Income Tax Credit is a powerful anti-poverty tool that puts money back into the pockets of hardworking Coloradans, and there are more resources out there that can boost their incomes that they deserve,” said Rep. Manny Rutinel, D-Commerce City. “Our legislation would make these resources more accessible to Coloradans who may not make enough annually to file their taxes by making it easier for state agencies to do targeted outreach to uplift lower-income Coloradans.”

“Social safety net services are important in helping lower-income Coloradans afford housing, child care, and groceries,” said Rep. Emily Sirota, D-Denver. “Some Coloradans don’t know that they qualify for certain tax credits that can put hundreds of dollars back into their wallets. This bill takes a proactive approach by notifying Coloradans about the resources they qualify for, making public assistance more accessible to those who need it the most.”

Under HB24-1288, the Department of Revenue would share the contact information of an individual who claimed the Earned Income Tax Credit and/or the Child Tax Credit with other state agencies so they can notify filers of other benefits that they may qualify for.

Subject to the approval by the IRS, the bill also creates a program to identify and assist individuals who have not filed a federal income tax return for the 2022 income tax year to claim the state Earned Income Tax Credit.

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