Colorado 2025 Regular Session

Colorado House Bill HB1037

Introduced
1/8/25  
Refer
1/8/25  
Report Pass
1/27/25  

Caption

Income Tax Credit for Eligible Teachers

Impact

The introduction of HB1037 could have significant implications for state tax laws and education funding. By providing a financial incentive for teachers, the bill seeks to recognize the resourcefulness and commitment of educators who often spend their own money on classroom necessities. The bill aims to shift some financial responsibility from teachers to the state, thereby acknowledging the importance of adequately funding public education to maintain high-quality teaching and learning environments. The anticipated outcomes include improved teacher satisfaction and retention rates, as well as enhanced educational experiences for students benefiting from properly resourced classrooms.

Summary

HB1037 proposes a state income tax credit for licensed teachers employed full-time in public schools in Colorado, aiming to provide financial relief for teachers who often incur out-of-pocket expenses for classroom supplies and educational materials. The bill allows eligible teachers to claim a refundable tax credit starting from income tax years commencing on January 1, 2025, through January 1, 2027. Teachers who work for an entire academic year can claim a credit of $1,000, while those who are employed for at least one-half of an academic year can claim $500, making it inclusive of a wider pool of educators facing financial burdens in their teaching roles.

Contention

Despite the positive intent of HB1037, discussions around the bill may evoke differing opinions regarding education funding priorities. Critics may argue that tax credits alone do not address the broader systemic issues affecting public education funding. Some may believe that more substantial reforms or direct funding increases are needed to alleviate financial strains on teachers and ensure comprehensive support for public education. The bill's effectiveness will also be evaluated by assessing the number and value of credits claimed, emphasizing the necessity for ongoing dialogue about teacher compensation and funding adequacy.

Companion Bills

No companion bills found.

Previously Filed As

CO HB1208

Income Tax Credit For Eligible Teachers

CO HB1221

Income Tax Credit for Eligible Teachers

CO HB1079

Income Tax Credits For Nonpublic Education

CO SB114

Income Tax Credit for Parental School Engagement

CO SB030

Eligible Educator Classroom Expenses Tax Credit

CO HB1446

Professional Development for Science Teachers

CO HB1312

State Income Tax Credit for Careworkers

CO HB1157

Employee-Owned Business Office & Income Tax Credit

CO HB1316

Middle-Income Housing Tax Credit

CO HB1271

State Income Tax Credit for Veterinary Professional

Similar Bills

No similar bills found.