NOTE:  This bill has been prepared for the signature of the appropriate legislative
officers and the Governor.  To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
      history, or the Session Laws.
      
      
      HOUSE BILL 08-1049
      
      
      BY REPRESENTATIVE(S) Benefield, Buescher, Massey, McNulty,
      Butcher, Casso, Green, Kefalas, Labuda, Looper, Madden, Marshall,
      McGihon, Middleton, Pommer, Roberts, Rose, Solano, Stafford, Stephens,
      and Todd;
      also SENATOR(S) Groff, Penry, Romer, Shaffer, Spence, Windels, Bacon,
      Boyd, Isgar, Kester, Mitchell S., Morse, Schwartz, Taylor, Tochtrop, Tupa,
      Veiga, Ward, Wiens, and Williams.
      
      
      Concerning the extension of the years for which a taxpayer may
           claim the income tax credit for child care facilities.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  39-22-121 (2) (a) and (7), Colorado Revised Statutes,
      are amended, and the said 39-22-121 is further amended BY THE
      ADDITION OF THE FOLLOWING NEW SUBSECTIONS, to read:
      
           39-22-121.  Credit for child care facilities - repeal.  (2)  Monetary
      or in-kind contributions to promote child care in the state shall include the
      following types of contributions:
      
           (a)  Donating money, real estate, or property for the establishment or
      operation of a child care facility as defined in section 26-6-303 (2), C.R.S.,
      that uses the donation to provide child care, a child care program that is not
      a child care facility but provides child care services similar to those
      provided by a child care center, as defined in section 26-6-102 (1.5), C.R.S.,
      or any other program that received donations for which a credit was allowed
      to the donor pursuant to this section for any income tax year that ended
      before January 1, 2004, in the state;
      
           (6.5)  For the purposes of this section, "child care facility"
      means any facility required to be licensed pursuant to part 1 of
      article 6 of title 26, C.R.S., and shall include, but is not limited to:
      
           (a)  Child care centers;
      
           (b)  Child placement agencies;
      
           (c)  Family child care homes;
      
           (d)  Foster care homes;
      
           (e)  Homeless youth shelters;
      
           (f)  Residential child care facilities; and
      
           (g)  Secure residential treatment centers.
      
           (6.7) (a)  If the revenue estimate prepared by the staff of the
      legislative council in December 2010 and each December
      thereafter indicates that the amount of the total general fund
      revenues for that particular fiscal year will not be sufficient to
      maintain the limit on appropriations specified in section 24-75-201.1
      (1), C.R.S., then the credit authorized in this section shall not be
      allowed for any income tax year commencing during the calendar
      year following the year in which the estimate is prepared; except
      that any taxpayer who would have been eligible to claim a credit
      pursuant to this section in the income tax year in which the credit
      is not allowed shall be allowed to claim the credit earned in such
      income tax year in the next income tax year in which the estimate
      indicates that the amount of the total general fund revenues will
      be sufficient to maintain the limit on appropriations specified in
      section 24-75-201.1 (1), C.R.S.
      
           (b)  The department of revenue shall, through its web site,
      specify on or before January 1, 2011, and on or before each
      January 1 thereafter, whether the credit authorized in this
      section shall be allowed for a given income tax year pursuant to
      paragraph (a) of this subsection (6.7).
      
           (7)  This section is repealed, effective January 1, 2010 January 1,
      2020.
      
           SECTION 2.  Effective date.  This act shall take effect at 12:01
      a.m. on the day following the expiration of the ninety-day period after final
      adjournment of the general assembly that is allowed for submitting a
      referendum petition pursuant to article V, section 1 (3) of the state
      constitution, (August 6, 2008, if adjournment sine die is on May 7, 2008);
      except that, if a referendum petition is filed against this act or an item,
      section, or part of this act within such period, then the act, item, section, or
      part, if approved by the people, shall take effect on the date of the official
      declaration of the vote thereon by proclamation of the governor.
      
      
      
      
      ________________________________________________________
      Andrew Romanoff                        Peter C. Groff
      SPEAKER OF THE HOUSE                     PRESIDENT OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
      
      
      ____________________________  ____________________________
      Marilyn Eddins                          Karen Goldman
      CHIEF CLERK OF THE HOUSE                 SECRETARY OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    Bill Ritter, Jr.
                                    GOVERNOR OF THE STATE OF COLORADO