(CPR: Megan Arellano)

This article is part of our look at potential refunds from the Taxpayer's Bill of Rights. Learn more about how TABOR works here. 

Title: HB15-1366 Expand Job Growth Tax Credit For Higher Ed Project

Sponsors: Rep. Dan Pabon (D-Denver), Rep. Yeulin Willett (R-Delta), Sen. David Balmer (R-Centennial)

Status: Introduced and assigned to the state House Finance Committee on April 20. The Finance Committee referred an amended version of the bill to the whole House on April 22. The House passed its third reading of the bill on April 28 and introduced the bill in the Senate. In the Senate, it was assigned to the Business, Labor and Technology Committee. The Business, Labor and Technology Committee referred the bill to the Finance Committee on April 30. The Finance Committee referred the bill to the Appropriations Committee on the same day. The Appropriations Committee referred an amended version of the bill to the whole Senate on May 4. The Senate passed its third reading of the bill on May 6 and the House repassed the bill after considering the Senate's amendments. 

What the bill does: Makes the job growth incentive tax credit refundable under certain conditions and relaxes the requirements to qualify for the credit.

Taxpayers who have qualified partnerships in the program, have been in business in Colorado for five or fewer years, and did not relocate from another state would now have refund opportunities. 

Additionally, this bill allows any taxpayers who partner with state higher education institutions to qualify under the easier standards applicable to taxpayers located within enhanced rural enterprise zones.

How it affects your refund: This bill would reduce the average taxpayer refund by less than a penny in fiscal year 2015-16.