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HB 24-1052

Senior Housing Income Tax Credit

2024 Regular Session Introduced by Chris Hansen and 2 co-sponsors

Creates an income tax credit to spur senior housing development, rehabilitation, or preservation, boosting supply and lowering costs for older adults.

Governor Signed
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Bill Summary · HB 24-1052

HB 24-1052 — Senior Housing Income Tax Credit

Status: Governor signed (June 6, 2024)
Introduced: January 10, 2024
Primary Sponsors: Rep. Chris Hansen, Rep. Mike Weissman, Sen. Chris Kolker

Purpose / Intent

Based on the bill title, HB 24-1052 establishes an income tax credit intended to promote the development, preservation, or availability of housing for older adults (senior housing). The broad policy intent is to use a tax incentive to increase supply or affordability of housing targeted to seniors.

Note: The legislative document provided does not include the bill text or specific statutory language. The summary below combines what is known from the bill’s metadata and typical elements of similarly titled bills. For the precise legal provisions and dollar figures, consult the enacted bill text.

Legislative status and timeline

  • Introduced in House (assigned to Finance): 2024-01-10
  • Passed House (with amendments): 2024-04-26
  • Passed Senate (no amendments): 2024-05-07
  • Signed by legislative leaders and sent to Governor: 2024-05-23
  • Governor signed into law: 2024-06-06

House committees of Finance and Appropriations considered and amended the bill before final passage; the Senate passed the amended version without further changes.

Likely key provisions (based on title / common structure)

Because the bill text is not included here, these are the types of provisions typically found in a "senior housing income tax credit" measure. Confirm against the enacted text:
- Establishes an income tax credit targeted to encourage creation, rehabilitation, or preservation of senior housing units.
- Defines eligible recipients (e.g., developers, property owners, or possibly qualifying taxpayers who make qualifying investments).
- Specifies credit size and calculation method (per unit, percentage of qualifying costs, or capped amount).
- Sets eligibility criteria (age-restricted units, affordability requirements, minimum unit counts, building standards).
- Includes compliance, certification, and reporting requirements (state agency oversight, allocation or reservation system).
- May include limitations: credit cap (per project or statewide), nonrefundable vs. refundable status, carryforward rules, and potential sunset or phased expiration.
- May require coordination with existing affordable housing programs or tax credit programs.

Who would be affected

  • Property developers and owners that build or rehabilitate senior housing — potential beneficiaries of the tax credit.
  • Older adults seeking affordable or accessible housing, if credits increase supply or lower rents.
  • State revenue / budget — credits reduce state tax receipts and may have fiscal impacts requiring appropriation or reporting.
  • Local governments and housing agencies involved in certification or administration.

Potential impacts and considerations

  • Positive: could spur new senior housing projects, preserve existing affordable units, and increase housing options for older adults.
  • Fiscal: reduced income tax revenue for the state; magnitude depends on credit size, uptake, and caps.
  • Administrative: requires state agency rules and monitoring to ensure compliance and public benefit.

Next steps / where to get the full text

To understand exact eligibility, credit amounts, sunset dates, and fiscal effects, review the enacted bill text and the fiscal note published by the state legislative fiscal office. Search the Colorado General Assembly bill search for HB24-1052 (Senior Housing Income Tax Credit) or contact the Office of Legislative Legal Services or the sponsoring legislators’ offices for the final enacted language and fiscal analysis.

Compiled from official sources — confirm details with the bill’s official record.

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