HB24-1157
Employee-Owned Business Office & Income Tax Credit
Concerning support for Colorado employee-owned businesses, and, in connection therewith, support for businesses transitioning to and in the early stages of employee ownership and making an appropriation.
Session:
2024 Regular Session
Subjects:
Bill Summary
Business & Economic Development
Fiscal Policy & Taxes
State Government
The bill creates the employee ownership office, which was originally created administratively by the governor in 2020, as a statutory entity within the office of economic development and international trade (OEDIT). The bill also creates an income tax credit for specified costs incurred by new employee-owned businesses, to be administered by the employee ownership office.
(Note: This summary applies to this bill as introduced.)