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DENVER, CO - On August 7, a bipartisan law goes into effect to save students money on higher education. HB24-1340, the Colorado Promise Act, creates a refundable income tax credit to cover the cost of two years of higher education for every family making under $90,000. SB24-104 will seamlessly connect apprenticeship programs with the Colorado Community College System (CCCS) and high school and career technical education (CTE) programs.
“As one of the first members of my family to go to college, I want to make it possible for every aspiring student to afford higher education and achieve their dreams,” said Rep. Shannon Bird, D-Westminster, sponsor of HB24-1340. “By creating the Colorado Promise, we will make higher education nearly free for two years for every family making under $90,000 per year. With this law going into effect, more students will be able to complete their degree and afford the cost of college, which for too many middle-income families is unaffordable.”
“In my legislative career, improving education and creating opportunities for all of Colorado’s students has been a top priority,” said Senator Rachel Zenzinger, D-Arvada, sponsor of HB24-1340. “The Colorado Promise is a historic opportunity to make higher education more accessible for students whose families make under $90,000 a year. I’m so proud to see this bipartisan legislation take effect. We’re one step closer to making affordable degrees a reality.”
HB24-1340, also sponsored by Representative Rick Taggart, R-Grand Junction, and Senator Barbara Kirkmeyer, R-Weld County, supports two years of in-state college for students in families earning less than $90,000, making higher education more attainable for families.
Specifically, this law creates a refundable state income tax credit for Colorado students in their first two years of attendance (based on credit hours accumulated) at any public Colorado institution of higher education. The credit provides reimbursement for the full amount of tuition and fees paid after accounting for any scholarships or grants the student received. The credit can be claimed by a parent or other taxpayer if the student is their dependent, and is available for the 2024-25 school year through 2031-32.
SB24-104 will require the Colorado Department of Labor and Employment (CDLE) and the CCCS to align high school CTE programs with registered apprenticeships, which includes things like working with apprenticeship sponsors on including credit for CTE programs completed. There are currently over 300,000 high school and community college students enrolled in CTE programs, and this will help more students progress into paid apprenticeships with concrete career pathways. These registered apprenticeship programs will focus on areas of workforce shortages, such as infrastructure, advanced manufacturing, education, or health care.
“Currently, there is a gap between technical education and apprentice programs across the state,” said Senator Jessie Danielson, D-Wheat Ridge, sponsor of SB24-104. “This new law bridges that gap by connecting students with quality apprenticeships that will give them the opportunity to earn as they learn.”
“Colorado has amazing opportunities available for students who are interested in trade work, but the disconnect between their education and existing apprenticeship program requirements make it more difficult for them to complete their training,” said Rep. Eliza Hamrick, D-Centennial, sponsor of SB24-104. “With our new law going into effect, we can better ensure that students are going through training that aligns with apprenticeship requirements so they can get into the workforce quicker and build a strong career in their trade of choice.”
While Colorado has made progress in advancing registered apprenticeships over the last several years, according to CDLE, apprenticeships make up only 0.1 percent of the state’s workforce. Reports show that students benefit from experiential learning opportunities, leading to higher grades, greater engagement, and stronger career-readiness.