Amendments for HB24-1340
House Journal, April 23
8 HB24-1340 be amended as follows, and as so amended, be referred to
9 the Committee on Appropriations with favorable
10 recommendation:
11
12 Amend printed bill, page 2, lines 2 and 3, strike "and 39-22-561".
13
14 Page 9, strike lines 11 through 27.
15
16 Strike pages 10 through 13.
17
18 Page 14, strike lines 1 through 24.
19
20
House Journal, May 3
14 HB24-1340 be amended as follows, and as so amended, be referred to
15 the Committee of the Whole with favorable
16 recommendation:
17
18 Strike the Finance Committee Report, dated April 22, 2024, and
19 substitute:
20
21 "Amend printed bill, strike everything below the enacting clause and
22 substitute:
23
24 "SECTION 1. In Colorado Revised Statutes, add 39-22-560 as
25 follows:
26 39-22-560. Tuition and fee tax credit for qualifying students
27 - tax preference performance statement - legislative declaration -
28 definitions - repeal. (1) (a) THE GENERAL ASSEMBLY FINDS,
29 DETERMINES, AND DECLARES THAT:
30 (I) THE COST OF HIGHER EDUCATION AND STUDENT DEBT CAN BE
31 A DETERRENT FOR MANY STUDENTS TO PURSUE POST-SECONDARY
32 CREDENTIALS;
33 (II) BETWEEN 2012 AND 2023, THE SHARE OF STUDENTS GOING TO
34 INSTITUTIONS IN OTHER STATES INCREASED FROM NINETEEN AND
35 ONE-HALF PERCENT TO TWENTY-NINE AND ONE-TENTH PERCENT. DURING
36 THIS TIME, ENROLLMENT AT COLORADO PUBLIC INSTITUTIONS DECLINED
37 WHILE THE COLORADO POPULATION OF INDIVIDUALS IN THE AGE RANGE OF
38 EIGHTEEN THROUGH TWENTY-FOUR INCREASED;
39 (III) TARGETED FINANCIAL SUPPORT TOWARDS THE COST OF
40 ATTENDANCE CAN HALT THIS TREND BY MAKING PUBLIC COLORADO
41 INSTITUTIONS MORE AFFORDABLE TO STUDENTS THAN OUT-OF-STATE
42 INSTITUTIONS AND CAN HELP STABILIZE COLORADO PUBLIC INSTITUTIONS'
43 FINANCES, WHICH WILL ALSO REDUCE RISK TO THE STATE'S BUDGET IN
44 SUPPORT OF THE PUBLIC INSTITUTIONS;
45 (IV) THE COSTS OF HIGHER EDUCATION ARE A BARRIER TO MANY
46 STUDENTS. REDUCING THOSE COSTS AND STUDENT DEBT CAN HELP
47 STUDENTS NOT ONLY ATTEND COLLEGE BUT ALSO BE FINANCIALLY
48 SUCCESSFUL; AND
49 (V) TO CONTINUE TO STRENGTHEN THE EDUCATIONAL PIPELINE, A
50 FINANCIAL INCENTIVE SHOULD BE PROVIDED TO LOW- AND MIDDLE-
51 INCOME POST-SECONDARY COLORADO STUDENTS.
52 (b) IN ACCORDANCE WITH SECTION 39-21-304 (1), WHICH
53 REQUIRES EACH BILL THAT CREATES A NEW TAX EXPENDITURE TO INCLUDE
54 A TAX PREFERENCE PERFORMANCE STATEMENT AS PART OF A STATUTORY
55 LEGISLATIVE DECLARATION, THE GENERAL ASSEMBLY FINDS AND
1 DECLARES THAT THE GENERAL LEGISLATIVE PURPOSES OF THIS TAX
2 EXPENDITURE ARE TO INDUCE CERTAIN DESIGNATED BEHAVIOR BY
3 TAXPAYERS AND PROVIDE TAX RELIEF FOR CERTAIN INDIVIDUALS.
4 SPECIFICALLY, THIS TAX EXPENDITURE IS INTENDED TO ENCOURAGE
5 ENROLLMENT IN PUBLIC COLORADO INSTITUTIONS OF HIGHER EDUCATION
6 AND REDUCE STUDENT DEBT.
7 (c) THE GENERAL ASSEMBLY AND THE STATE AUDITOR SHALL
8 MEASURE THE EFFECTIVENESS OF THE INCENTIVE IN ACHIEVING THE
9 PURPOSE SPECIFIED IN SUBSECTION (1)(b) OF THIS SECTION BASED ON THE
10 NUMBER OF INCENTIVES THAT ARE CLAIMED.
11 (2) AS USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE
12 REQUIRES:
13 (a) "COLORADO PUBLIC INSTITUTION OF HIGHER EDUCATION"
14 MEANS:
15 (I) A PUBLIC, POST-SECONDARY INSTITUTION THAT IS GOVERNED
16 BY THE BOARD OF GOVERNORS OF THE COLORADO STATE UNIVERSITY
17 SYSTEM, THE BOARD OF REGENTS OF THE UNIVERSITY OF COLORADO, THE
18 BOARD OF TRUSTEES OF THE COLORADO SCHOOL OF MINES, THE BOARD OF
19 TRUSTEES OF THE UNIVERSITY OF NORTHERN COLORADO, THE BOARD OF
20 TRUSTEES OF ADAMS STATE UNIVERSITY, THE BOARD OF TRUSTEES OF
21 WESTERN COLORADO UNIVERSITY, THE BOARD OF TRUSTEES OF
22 COLORADO MESA UNIVERSITY, THE BOARD OF TRUSTEES OF FORT LEWIS
23 COLLEGE, THE BOARD OF TRUSTEES OF METROPOLITAN STATE UNIVERSITY
24 OF DENVER, OR THE STATE BOARD FOR COMMUNITY COLLEGES AND
25 OCCUPATIONAL EDUCATION;
26 (II) AN AREA TECHNICAL COLLEGE, AS DEFINED IN SECTION
27 23-60-103 (1); OR
28 (III) COLORADO MOUNTAIN COLLEGE AND AIMS COMMUNITY
29 COLLEGE.
30 (b) "ELIGIBLE STUDENT" MEANS AN INDIVIDUAL WHO:
31 (I) HAS MATRICULATED AT A COLORADO PUBLIC INSTITUTION OF
32 HIGHER EDUCATION WITHIN TWO YEARS OF COMPLETION OF HIGH SCHOOL
33 GRADUATION OR AN EQUIVALENT IN COLORADO;
34 (II) IS DESIGNATED AS A DEGREE OR CREDENTIAL SEEKING
35 STUDENT FOR THE SEMESTER OR TERM FOR WHICH AN INCENTIVE IS
36 CLAIMED;
37 (III) QUALIFIES FOR IN-STATE TUITION, AS DESCRIBED IN ARTICLE
38 7 OF TITLE 23, FOR THE SEMESTER OR TERM FOR WHICH THE INCENTIVE IS
39 CLAIMED;
40 (IV) HAS COMPLETED A FREE APPLICATION FOR FEDERAL STUDENT
41 AID (FAFSA) OR COLORADO APPLICATION FOR STATE FINANCIAL AID
42 (CASFA) FOR THE SEMESTER OR TERM FOR WHICH AN INCENTIVE IS
43 CLAIMED THAT INDICATES THAT THE STUDENT'S HOUSEHOLD HAS AN
44 ADJUSTED GROSS INCOME THAT IS NINETY THOUSAND DOLLARS OR LESS;
45 (V) IS ENROLLED IN AT LEAST SIX CREDIT HOURS OR EQUIVALENT
46 FOR THE SEMESTER OR TERM FOR WHICH THE INCENTIVE IS CLAIMED; AND
47 (VI) HAS A GRADE POINT AVERAGE OF 2.5 OR HIGHER FOR THE
48 SEMESTER OR TERM FOR WHICH THE INCENTIVE IS CLAIMED
49 (c) "INCENTIVE" MEANS THE REFUNDABLE CREDIT.
50 (d) "SCHOLARSHIPS OR GRANTS" MEANS THE SUM OF ANY AMOUNT
51 PAID FOR THE BENEFIT OF AN ELIGIBLE STUDENT THAT ARE REQUIRED TO
52 BE TAKEN INTO ACCOUNT PURSUANT TO SECTION 25A (g)(2) OF THE
53 INTERNAL REVENUE CODE."
54
1 (e) "TUITION AND FEES" HAS THE SAME MEANING AS "QUALIFIED
2 TUITION AND RELATED EXPENSES" AS DEFINED IN SECTION 25A (f)(1) OF
3 THE INTERNAL REVENUE CODE THAT ARE PAID BY OR FOR THE BENEFIT OF
4 AN ELIGIBLE STUDENT.
5 (3) FOR EACH INCOME TAX YEAR COMMENCING ON OR AFTER
6 JANUARY 1, 2025, BUT PRIOR TO JANUARY 1, 2033, AND SUBJECT TO THE
7 REQUIREMENTS OF SUBSECTION (4) OF THIS SECTION, AN ELIGIBLE
8 STUDENT IS ALLOWED AN INCENTIVE AGAINST THE INCOME TAXES IMPOSED
9 BY THIS ARTICLE 22 IN AN AMOUNT EQUAL TO THE AMOUNT PAID BY OR
10 FOR THE BENEFIT OF THE ELIGIBLE STUDENT IN TUITION AND FEES MINUS
11 ANY SCHOLARSHIPS OR GRANTS WITH RESPECT TO THE FIRST SIXTY-FIVE
12 ACADEMIC CREDIT HOURS OR EQUIVALENT ACCUMULATED AT A
13 COLORADO PUBLIC INSTITUTION OF HIGHER EDUCATION EXCLUDING
14 CREDITS EARNED THROUGH CONCURRENT ENROLLMENT, ADVANCED
15 PLACEMENT, THE INTERNATIONAL BACCALAUREATE PROGRAM, MILITARY
16 CREDITS, AND ANY OTHER CREDITS ACCUMULATED PRIOR TO
17 MATRICULATION AT A COLORADO PUBLIC INSTITUTION OF HIGHER
18 EDUCATION.
19 (4) TO QUALIFY FOR THE INCENTIVE PROVIDED BY THIS SECTION,
20 AN ELIGIBLE STUDENT MUST BE INCLUDED IN THE REPORT REQUIRED BY
21 SUBSECTION (5) OF THIS SECTION TO BE SUBMITTED BY A COLORADO
22 INSTITUTION OF HIGHER EDUCATION TO THE COLORADO DEPARTMENT OF
23 REVENUE.
24 (5) (a) A COLORADO PUBLIC INSTITUTION OF HIGHER EDUCATION
25 IS REQUIRED BY JANUARY 31, 2026, AND EVERY JANUARY 31 THEREAFTER
26 UNTIL 2037, TO ELECTRONICALLY REPORT EACH ELIGIBLE STUDENT FOR
27 ANY SEMESTER OR TERM COMPLETED DURING THE PRIOR CALENDAR YEAR
28 IN A FORMAT PRESCRIBED BY THE EXECUTIVE DIRECTOR OF THE
29 DEPARTMENT OF REVENUE THAT INCLUDES:
30 (I) THE STUDENT'S TAX IDENTIFICATION NUMBER OR SOCIAL
31 SECURITY NUMBER; AND
32 (II) THE AMOUNT OF TUITION AND FEES PAID MINUS ANY
33 SCHOLARSHIPS OR GRANTS, WHICH IS ALSO INCLUDED IN THE STUDENT'S
34 1098-T FORM FOR THAT PRIOR CALENDAR YEAR.
35 (b) THE COLORADO PUBLIC INSTITUTION OF HIGHER EDUCATION
36 SHALL PROVIDE EACH ELIGIBLE STUDENT WITH A STATEMENT CONTAINING
37 THE INFORMATION PERTAINING TO THAT STUDENT'S ELIGIBILITY AND
38 INCENTIVE AMOUNT REPORTED TO THE DEPARTMENT OF REVENUE
39 PURSUANT TO SUBSECTION (5)(a) OF THIS SECTION.
40 (6) THE AMOUNT OF THE INCENTIVE ALLOWED UNDER THIS
41 SECTION THAT EXCEEDS THE AN ELIGIBLE STUDENT'S INCOME TAXES DUE
42 IS REFUNDED TO THE TAXPAYER.
43 (7) (a) THE DEPARTMENT OF HIGHER EDUCATION, IN CONSULTATION
44 WITH COLORADO PUBLIC INSTITUTIONS OF HIGHER EDUCATION, SHALL
45 DETERMINE EACH INSTITUTION'S AVERAGE PERCENTAGE OF STATE AND
46 INSTITUTIONAL FINANCIAL AID ALLOCATED TO THE RESIDENT STUDENT
47 POPULATION WHO HAVE A FAMILY INCOME OF NINETY THOUSAND DOLLARS
48 OR LESS IN EACH YEAR OF THE THREE YEARS PRIOR TO 2025.
49 (b) ON OR BEFORE JUNE 30, 2027, AND EACH YEAR THEREAFTER
50 UNTIL 2037, THE DEPARTMENT OF HIGHER EDUCATION SHALL SUBMIT A
51 REPORT TO THE JOINT BUDGET COMMITTEE AND THE HOUSE OF
52 REPRESENTATIVES AND SENATE EDUCATION COMMITTEES, OR ANY
53 SUCCESSOR COMMITTEES, INCLUDING, FOR EACH INSTITUTION, THE
54 AVERAGE PERCENTAGE OF STATE AND INSTITUTIONAL FINANCIAL AID
55 ALLOCATED TO THE RESIDENT STUDENT POPULATION WHO HAVE A FAMILY
1 INCOME OF NINETY THOUSAND DOLLARS OR LESS IN THE THREE YEARS
2 PRIOR TO 2025, AND IN EACH YEAR THEREAFTER. THE DEPARTMENT OF
3 HIGHER EDUCATION SHALL INCLUDE IN THE REPORT STUDENT
4 ENROLLMENT INFORMATION FOR ELIGIBLE AND NON-ELIGIBLE STUDENTS,
5 DISAGGREGATED BY INCOME, AND SHALL INCLUDE, ONCE THE DATE IS
6 AVAILABLE, DISAGGREGATED OUTCOME MEASURES BY INCOME FOR
7 ELIGIBLE AND NON-ELIGIBLE STUDENTS, INCLUDING BUT NOT LIMITED TO
8 STUDENT RETENTION AND COMPLETION RATES. EACH COLORADO PUBLIC
9 INSTITUTION OF HIGHER EDUCATION SHALL ANNUALLY REPORT STUDENT
10 LEVEL FINANCIAL AID, STUDENT ELIGIBILITY, AND INCENTIVE ELIGIBILITY
11 INFORMATION TO THE DEPARTMENT OF HIGHER EDUCATION THAT THE
12 DEPARTMENT OF HIGHER EDUCATION DEEMS NECESSARY TO PROVIDE TO
13 THE DEPARTMENT OF REVENUE FOR INCENTIVE ADMINISTRATION OR FOR
14 INCLUSION IN THE REPORT.
15 (7) THIS SECTION IS REPEALED, EFFECTIVE DECEMBER 31, 2037.
16 SECTION 2. Appropriation. (1) For the 2024-25 state fiscal
17 year, $285,006 is appropriated to the department of revenue for use by the
18 taxation business group. This appropriation is from the general fund. To
19 implement this act, the group may use this appropriation as follows:
20 (a) $219,398 for personal services, which amount is based on an
21 assumption that the division will require an additional 3.6 FTE;
22 (b) $37,958 for operating expenses;
23 (c) $3,875 for IDS print production; and
24 (d) $23,775 for tax administration IT system (GenTax) support.
25 (2) For the 2024-25 state fiscal year, $8,890 is appropriated to the
26 department of revenue for use by the executive director's office. This
27 appropriation is from the general fund. To implement this act, the office
28 may use this appropriation for personal services.
29 (3) For the 2024-25 state fiscal year, $3,875 is appropriated to the
30 department of personnel for use by the division of central services. This
31 appropriation is from reappropriated funds received from the department
32 of revenue under subsection (1)(c) of this section. To implement this act,
33 the department of personnel may use this appropriation to provide
34 document management services for the department of revenue.
35 (4) For the 2024-25 state fiscal year, $123,772 is appropriated to
36 the department of higher education for use by the Colorado commission
37 on higher education and higher education special purpose programs. This
38 appropriation is from the general fund and is based on the assumption that
39 the commission will require an additional 1.5 FTE. To implement this act,
40 the commission may use this appropriation for administration.
41 SECTION 3. Act subject to petition - effective date. This act
42 takes effect at 12:01 a.m. on the day following the expiration of the
43 ninety-day period after final adjournment of the general assembly; except
44 that, if a referendum petition is filed pursuant to section 1 (3) of article V
45 of the state constitution against this act or an item, section, or part of this
46 act within such period, then the act, item, section, or part will not take
47 effect unless approved by the people at the general election to be held in
48 November 2024 and, in such case, will take effect on the date of the
49 official declaration of the vote thereon by the governor.".
50
51 Page 1 of the bill, line 103, strike "CREDENTIALS." and substitute
52 "CREDENTIALS, AND, IN CONNECTION THEREWITH, MAKING AN
53 APPROPRIATION.".".
54
55
House Journal, May 3
50 Amendment No. 1, Appropriations Report, dated May 3, 2024, and placed
51 in member's bill file; Report also printed in House Journal, May 3, 2024.
52
53 As amended, ordered engrossed and placed on the Calendar for Third
54 Reading and Final Passage.
55
56
1 AMENDMENT(S) TO THE COMMITTEE OF THE WHOLE REPORT
2
3 Representative Wilson moved to amend the Report of the Committee of
4 the Whole to reverse the action taken by the Committee in not adopting
5 the following Wilson amendment, L.088 to SB24-184, to show that said
6 amendment passed and that SB24-184, as amended, passed:
7
8 Amend reengrossed bill, page 29, strike lines 11 through 16 and substitute
9 "overhead of the transportation enterprise.".
10
11 Page 30, strike lines 8 through 27.
12
13 Strike pages 31 and 32.
14
15 Page 33, strike lines 1 through 12 and substitute:
16
17 "(7.6) FOR STATE FISCAL YEAR 2024-25 AND EACH SUCCEEDING
18 STATE FISCAL YEAR, THE GENERAL ASSEMBLY SHALL APPROPRIATE FROM
19 THE GENERAL FUND TO THE DEPARTMENT AN AMOUNT EQUAL TO OR
20 GREATER THAN THE AMOUNT OF REVENUE GENERATED BY THE DAILY
21 VEHICLE RENTAL FEE IMPOSED PURSUANT TO SECTION 43-4-804 (1)(b) FOR
22 THE PRIOR STATE FISCAL YEAR. THE ANNUAL APPROPRIATION MUST
23 AUTHORIZE THE DEPARTMENT TO EXPEND THE MONEY APPROPRIATED ON
24 ANY PART OF THE SURFACE TRANSPORTATION PROJECT NETWORK.".
25
26 The amendment was declared lost by the following roll call vote:
27
28 YES 17 NO 45 EXCUSED 3 ABSENT
29 Amabile N English N Lindstedt N Sirota N
30 Armagost Y Epps N Luck Y Snyder N
31 Bacon E Evans Y Lukens N Soper Y
32 Bird N Frizell Y Lynch Y Story N
33 Bockenfeld E Froelich N Mabrey N Taggart N
34 Boesenecker N Garcia N Marshall N Titone N
35 Bottoms Y Hamrick N Martinez N Valdez N
36 Bradfield Y Hartsook Y Marvin N Velasco N
37 Bradley Y Hernandez N Mauro N Vigil N
38 Brown E Herod N McCormick N Weinberg Y
39 Catlin Y Holtorf Y McLachlan N Weissman N
40 Clifford N Jodeh N Ortiz N Willford N
41 Daugherty N Joseph N Parenti N Wilson Y
42 DeGraaf Y Kipp N Pugliese Y Winter T. Y
43 deGruy Kennedy N Lieder N Ricks N Woodrow N
44 Duran N Lindsay N Rutinel N Young N
45 Speaker N
Senate Journal, May 6
After consideration on the merits, the Committee recommends that HB24-1340 be
amended as follows, and as so amended, be referred to the Committee on Appropriations
with favorable recommendation.
Amend reengrossed bill, page 3, strike lines 2 through 13 and substitute:
"(II) COLORADO'S POSTSECONDARY MATRICULATION RATE WAS LESS
THAN FIFTY PERCENT IN 2021 WITH A LARGE SHARE GOING OUT OF STATE.
POSTSECONDARY EDUCATION HELPS STUDENTS ACHIEVE ECONOMIC MOBILITY,
AND STUDENTS ARE MORE LIKELY TO STAY IN COLORADO IF THEY ATTEND
INSTITUTIONS IN COLORADO. BY INCENTIVIZING STUDENTS TO ATTEND
INSTITUTIONS IN COLORADO, STUDENTS WILL SEE MORE ECONOMIC MOBILITY
WHILE BENEFITING THE STATE WORKFORCE.".
Page 3, after line 13 insert:
"(III) IT IS THE INTENT OF THE GENERAL ASSEMBLY THAT IN THE EVENT
OF A RECESSION, EXISTING SUPPORT OF NEED-BASED FINANCIAL AID BE A
POTENTIAL BACKSTOP FOR THIS INCENTIVE;".
Renumber succeeding subparagraphs accordingly.
Page 3, strike line 17 and substitute "SUCCESSFUL. TARGETED INCENTIVES FOR
ATTENDING PUBLIC INSTITUTIONS OF HIGHER EDUCATION, WHICH HAVE LOWER
TUITION, HELP MORE STUDENTS COMPLETE HIGHER EDUCATION WITH LESS OR NO
DEBT AND HELP COLORADO RETAIN OUR OWN TALENT.
(IV) BUILDING BRIDGES TO HIGHER EDUCATION SUPPORTS OUR STATE'S
STUDENTS AND ECONOMIC HEALTH.".
Renumber succeeding subparagraph accordingly.
Page 4, line 2, strike "ENROLLMENT IN" and substitute "STUDENTS TO ATTEND".
Page 4, line 3, strike "DEBT." and substitute "DEBT BY PROVIDING A YEARLY
REFUNDABLE INCENTIVE TO STUDENTS IN THEIR FIRST TWO YEARS OF HIGHER
EDUCATION AGAINST THE TUITION AND FEES PAID TO A COLORADO PUBLIC
INSTITUTION OF HIGHER EDUCATION.".
Page 4, after line 3 insert:
"(c) THE TAX INCENTIVE PROVIDES A YEARLY REFUNDABLE CREDIT TO
STUDENTS AGAINST THE TUITION AND FEE COSTS PAID TO A PUBLIC TWO-YEAR
OR FOUR-YEAR INSTITUTION, AREA TECHNICAL COLLEGE, OR LOCAL DISTRICT
COLLEGE IN THEIR FIRST TWO YEARS OF HIGHER EDUCATION. ELIGIBLE
STUDENTS ARE THOSE WHO ARE CLASSIFIED AS IN-STATE STUDENTS, ENROLL IN
AT LEAST SIX CREDIT HOURS IN A SEMESTER OR TERM, HAVE AT LEAST A 2.5
GRADE POINT AVERAGE IN A SEMESTER OR TERM, MATRICULATED IN COLLEGE
WITHIN TWO YEARS OF HIGH SCHOOL GRADUATION, AND HAVE A FEDERAL
ADJUSTED GROSS HOUSEHOLD INCOME OF NINETY THOUSAND DOLLARS OR LESS
AS INDICATED ON THE FREE APPLICATION FOR FEDERAL STUDENT AID OR
COLORADO APPLICATION FOR STATE FINANCIAL AID.
(d) THE 2022 AMERICAN COMMUNITY SURVEY CONDUCTED BY THE
UNITED STATES CENSUS BUREAU FOUND THAT THE MEDIAN HOUSEHOLD INCOME
IN COLORADO IS EIGHTY NINE THOUSAND THREE HUNDRED TWO DOLLARS. A
NINETY THOUSAND DOLLAR INCOME THRESHOLD ENSURES THAT ALL COLORADO
HOUSEHOLDS AT OR BELOW MEDIAN INCOME WILL BE ABLE TO BENEFIT FROM
THIS INCENTIVE.".
Renumber succeeding subparagraph accordingly.
Page 4, after line 9 insert:
"(a) "ACADEMIC YEAR" MEANS THE PERIOD BEGINNING WITH A
COLORADO PUBLIC INSTITUTION OF HIGHER EDUCATION'S FALL SEMESTER OR
TERM AND ENDING THE FOLLOWING CALENDAR YEAR AT THE CONCLUSION OF
THE COLORADO PUBLIC INSTITUTION OF HIGHER EDUCATION'S SUMMER
SEMESTER OR TERM.".
Renumber succeeding paragraphs accordingly.
Page 5, line 3, strike "EQUIVALENT IN COLORADO;" and substitute
"EQUIVALENT.".
Page 5, line 5, after "STUDENT" insert "AT A COLORADO PUBLIC INSTITUTION OF
HIGHER EDUCATION".
Page 5, line 9, after "CLAIMED;" insert "AND".
Page 5, line 14, strike "LESS;" and substitute "LESS.".
Page 5, strike lines 15 through 18.
Page 5, line 19, strike "CREDIT." and substitute "CREDIT ALLOWED BY THIS
SECTION.".
Page 5, after line 19 insert:
"(d) QUALIFYING SEMESTER OR TERM" MEANS A SEMESTER OR TERM
THAT THE ELIGIBLE STUDENT:
(I) BEGINS WITH FEWER THAN SIXTY-SIX CREDIT HOURS ACCUMULATED,
INCLUDING ALL CREDITS TRANSFERRED TO THE COLORADO PUBLIC INSTITUTION
OF HIGHER EDUCATION, EXCEPT THOSE CREDITS EARNED THROUGH PRIOR
LEARNING ASSESSMENT, CONCURRENT ENROLLMENT, ADVANCE PLACEMENT,
THE INTERNATIONAL BACCALAUREATE PROGRAM, MILITARY CREDITS, OR ANY
OTHER CREDITS ACCUMULATED PRIOR TO MATRICULATION AT ANY INSTITUTION
OF HIGHER EDUCATION; AND
(II) COMPLETES EARNING AT LEAST SIX CREDIT HOURS OR EQUIVALENT
WITH A GRADE POINT AVERAGE OF 2.5 OR HIGHER.".
Reletter succeeding paragraph accordingly.
Page 5, line 23, strike "CODE."" and substitute "CODE.".
Page 6, line 1, after "(3)" insert "(a)".
Page 6, lines 2 and 3, strike "AND SUBJECT TO THE REQUIREMENTS OF
SUBSECTION (4) OF THIS SECTION,".
Page 6, strike lines 5 through 19 and substitute "BY THIS ARTICLE 22 FOR EVERY
QUALIFYING SEMESTER OR TERM COMPLETED DURING THE ACADEMIC YEAR
ENDING DURING THE INCOME TAX YEAR.
(b) THE AMOUNT OF INCENTIVE ALLOWED TO AN ELIGIBLE STUDENT FOR
EACH INCOME TAX YEAR IS EQUAL TO THE AMOUNT PAID BY OR FOR THE BENEFIT
OF THE ELIGIBLE STUDENT IN TUITION AND FEES TO A COLORADO PUBLIC
INSTITUTION OF HIGHER EDUCATION MINUS ANY SCHOLARSHIPS OR GRANTS FOR
EACH QUALIFYING SEMESTER OR TERM DURING THE ACADEMIC YEAR
COMPLETED DURING THE PRIOR CALENDAR YEAR.".
Renumber succeeding subsections accordingly.
Page 6, line 20, strike "A" and substitute "EACH".
Page 6, line 21, strike the first "31," and substitute "15," and strike the second
"31," and substitute "15,".
Page 6, line 22, strike "2037," and substitute "2034,".
Page 6, line 23, after "ANY" insert "QUALIFYING"; after "THE" insert "ACADEMIC
YEAR COMPLETED DURING THE"; and after "YEAR" insert "TO THE DEPARTMENT
OF HIGHER EDUCATION".
Page 6 lines 24 and 25, strike "EXECUTIVE DIRECTOR OF THE DEPARTMENT OF
REVENUE" and substitute "DEPARTMENT OF HIGHER EDUCATION".
Page 7, strike lines 2 and 3, and substitute "SCHOLARSHIPS OR GRANTS.".
Page 7, line 4, strike "THE" and substitute "BY JANUARY 31, 2026, AND EVERY
JANUARY 31 THEREAFTER THROUGH 2034, THE".
Page 7, line 7, strike "REVENUE" and substitute "HIGHER EDUCATION".
Page 7, after line 8 insert:
"(c) THE DEPARTMENT OF HIGHER EDUCATION IS REQUIRED BY JANUARY
31, 2026, AND EVERY JANUARY 31 THEREAFTER THROUGH 2034, TO
ELECTRONICALLY REPORT THE INFORMATION RECEIVED PURSUANT TO
SUBSECTION (4)(a) OF THIS SECTION ALONG WITH ANY LATER CORRECTIONS OR
ADDITIONS TO THE DEPARTMENT OF REVENUE IN A FORMAT PRESCRIBED BY THE
EXECUTIVE DIRECTOR.".
Page 7, after line 17 insert:
"(b) EACH COLORADO PUBLIC INSTITUTION OF HIGHER EDUCATION
SHALL MAINTAIN A PERCENTAGE OF STATE AND INSTITUTIONAL FINANCIAL AID
TO RESIDENT STUDENTS WHO HAVE AN ADJUSTED GROSS HOUSEHOLD INCOME
OF NINETY THOUSAND DOLLARS OR LESS THAT IS EQUAL TO OR GREATER THAN
THE AVERAGE PERCENTAGE OF STUDENT AND
INSTITUTIONAL FINANCIAL AID CALCULATED BY THE DEPARTMENT OF HIGHER
EDUCATION IN EACH OF THE THREE ACADEMIC YEARS PRIOR TO THE ACADEMIC
YEAR 2024-25.
(c) IF AN INSTITUTION DOES NOT MAINTAIN THE PERCENTAGE, THE
INSTITUTION SHALL NOTIFY THE DEPARTMENT OF HIGHER EDUCATION BY A DATE
DETERMINED BY THE DEPARTMENT OF HIGHER EDUCATION AND MUST INCLUDE
IN THE NOTIFICATION A DESCRIPTION OF CHANGES TO INSTITUTIONAL FINANCES
OR THE STUDENT POPULATION THAT PREVENTED THE INSTITUTION FROM
MAINTAINING THE STATE AND INSTITUTIONAL FINANCIAL AID ALLOCATION
PERCENTAGE. THE DEPARTMENT OF HIGHER EDUCATION SHALL INCLUDE THIS
INFORMATION IN ITS REPORT DESCRIBED IN SUBSECTION (7)(d) OF THIS
SECTION.".
Renumber succeeding paragraph accordingly.
Page 7, line 25, after "THREE" insert "ACADEMIC".
Page 7, strike line 26 and substitute "PRIOR TO THE ACADEMIC YEAR 2024-25,
AND IN EACH ACADEMIC YEAR THEREAFTER UNTIL 2034. THE DEPARTMENT OF".
Page 8, line 12, strike "(7)" and substitute "(8)".
Senate Journal, May 7
After consideration on the merits, the Committee recommends that HB24-1340 be
amended as follows, and as so amended, be referred to the Committee of the Whole with
favorable recommendation.
Amend reengrossed bill, page 8, strike lines 14 through 27.
Page 9, strike lines 1 through 10 and substitute:
"year, $101,756 is appropriated to the department of higher education for use
by the Colorado commission on higher education and higher education special
purpose programs. This appropriation is from the general fund and is based on
the assumption that the commission will require an additional 1.3 FTE. To
implement this act, the commission may use this appropriation for
administration."
Appro-
priations
Senate Journal, May 8
HB24-1340 by Representative(s) Bird and Taggart; also Senator(s) Kirkmeyer and Zenzinger--
Concerning the creation of incentives against the state income tax for students pursuing
post-secondary credentials, and, in connection therewith, making an appropriation.
A majority of those elected to the Senate having voted in the affirmative, Senator
Zenzinger was given permission to offer a third reading amendment.
Third Reading Amendment No. 1(L.027) , by Senator Zenzinger.
Amend revised bill, page 6, line 27, strike "ADVANCE" and substitute
"ADVANCED".
Page 8, line 2, strike "2034," and substitute "2033,".
Page 8, line 12, strike "2034," and substitute "2033,".
Page 8, line 15, strike "INCENTIVE" and substitute "THE".
Page 8, line 16, strike "(5)(a)" and substitute "(4)(a)(II)".
Page 8, line 24, strike "AN".
Page 9, line 9, strike "STUDENT" and substitute "STATE".
The amendment was passed on the following roll call vote:
YES 33 NO 0 EXCUSED 2 ABSENT 0
Baisley Y Ginal Y Marchman Y Simpson Y
Bridges Y Gonzales Y Michaelson Y Smallwood Y
Buckner E Hansen Y Mullica E Sullivan Y
Coleman Y Hinrichsen Y Pelton B. Y Van Winkle Y
Cutter Y Jaquez Y Pelton R. Y Will Y
Danielson Y Kirkmeyer Y Priola Y Winter F. Y
Exum Y Kolker Y Rich Y Zenzinger Y
Fields Y Liston Y Roberts Y President Y
Gardner Y Lundeen Y Rodriguez Y
The question being "Shall the bill, as amended, pass?", the roll call was taken with the
following result:
YES 28 NO 5 EXCUSED 2 ABSENT 0
Baisley N Ginal Y Marchman Y Simpson Y
Bridges Y Gonzales Y Michaelson Y Smallwood N
Buckner E Hansen Y Mullica E Sullivan Y
Coleman Y Hinrichsen Y Pelton B. Y Van Winkle N
Cutter Y Jaquez Y Pelton R. N Will Y
Danielson Y Kirkmeyer Y Priola Y Winter F. Y
Exum Y Kolker Y Rich Y Zenzinger Y
Fields Y Liston N Roberts Y President Y
Gardner Y Lundeen Y Rodriguez Y