Colorado Employment Law Update – June 2018

Colorado

Working Families College Savings Act

On May 29, 2018, Colorado Governor John Hickenlooper signed legislation (H.B. 1217) creating a temporary income tax credit for income tax years beginning on or after January 1, 2019, but before January 1, 2022. Employers that make contributions to § 529 qualified state tuition program accounts owned by their employees may take a tax credit of 20 percent of the contribution, up to $500.

The law is effective August 9, 2018.

Read CO H.B. 1217