Senator Owen Hill presents senate bill 131 to the Senate Education Committee.
This bill provides an income tax credit to residents of Colorado who incur expenses related to their child or dependent's supplemental education. Supplemental education service is any educational or academic service used in order to enhance the student's school education. In order to claim the credit, the parent or guardian must submit, along with the tax return, a recommendation letter from a licensed educator, mental health professional, or physician that states the child requires supplemental education services. For income tax years beginning on and after January 1, 2013, the
credit would be the lesser of:
• the total amount of expenditures for a supplemental education service per taxpayer; or
• $500 per taxpayer.
The credit is not refundable, but can be carried forward for 3 years from the income tax year the credit was claimed.