Colorado House approves tax cut for teachers’ supplies

Colorado teachers would get a tax break for spending up to $250 a year on school supplies under a bill that won unanimous approval Monday in the state House.

The bill would allow educators to deduct unreimbursed education expenses from on their state taxes beginning in tax year 2016. The cut would go up to $750 a year by 2018.

The bill is meant to make up for a federal tax change. A federal educator expense deduction has been offered in past years but won’t be available in tax year 2015.

Fiscal analysts say the state tax exemption would cost about $720,000 a year by 2018.

The bill awaits a final vote by the House before heading to the Senate.

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Online:

House Bill 1104: http://bit.ly/1BjBAFf 

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