Colorado Gov. Jared Polis signed legislation creating a pilot program for a state middle-income housing tax credit. H.B. 1316 provides a credit for rental housing for individuals and families with a household income between 80 and 120 percent of the AMI, except in rural resort counties, where the range is 80 to 140 percent. The Colorado Housing and Finance Authority will determine the amount of the credit for each property and rent cannot exceed 30 percent of the imputed income limitation applicable to a unit. The annual statewide cap will be $5 million for 2025 and 2026 and $10 million for 2027, 2028 and 2029. The credit can be claimed over five years, but the property must provide middle-income housing for 15 years.