Two new transportation bills were recently introduced to the Colorado General Assembly.
The first, HB 22-1026, is an alternative transportation options tax credit which could replace an existing income tax deduction for expenses incurred by employers when providing alternative transportation options to employees with a refundable income tax credit of 50% of such expenses for such employers.
The credit is allowed for income tax years beginning on or after January 1, 2023, but before January 1, 2033.
The bill was introduced on Jan. 12, and is under consideration.
The second bill, HB 22-1138, will reduce employee single-occupancy vehicle trips.
According to the bill summary, for income years beginning on or after Jan. 1, 2023 but before Jan. 1, 2030, the bill will create an income tax credit for any employer that:
- Creates a clean commuting plan to implement strategies to increase the use of alternative transportation options and reduce the number of measurable vehicle miles driven by its employees in single-occupancy vehicles when commuting to and from their work site (clean commuting plan) for the purpose of reducing automobile-related air pollution, traffic congestion, and transportation costs, particularly for essential workers and workers earning under $40,000 per year;
- Conducts an employer commuter survey to determine how its employees commute to and from their work site; and
- Offers 2 or more alternative transportation options to some or all of its employees in furtherance of the employer’s clean commuting plan.
The bill also requires the executive director of the department of transportation, in coordination with the Colorado Energy Office and metropolitan planning organizations, to create an annual commuter survey for employers to use to determine how their employees commute to and from their work site.
This bill was introduced on Feb. 4.
To read the entire bill, visit https://leg.colorado.gov/bills/hb22-1138.