Commuting Tax Credit of up to $250,000
Employers can now claim a refundable income tax credit equal to 50% of the amount spent by the employer to provide alternative transportation options to employees up to $2,000 per employee and $250,000 in total in any tax year. “Alternative transportation options” are defined to mean free or partially subsidized generally accepted transportation demand management strategies, including, but not limited to, rideshare arrangements, provision of ridesharing vans or low-speed conveyances such as human-powered or electric bicycles, shared micromobility options such as bikesharing and electric scooter sharing programs, carsharing programs, and guaranteed ride home programs for employees including, but not limited to:
- Providing vehicles for ridesharing arrangements
- Cash incentives, not to exceed the value of such transportation demand management strategies, including for participation in ridesharing or bikesharing
- The payment of all or part of the administrative cost incurred in organizing, establishing, or administering alternative transportation options programs for employees
- Free or partially subsidized mass transit tickets, tokens, passes, or fares for use by employees in going to and returning from their places of employment
- Free or partially subsidized prearranged rides, or free or partially subsidized rides provided by bikesharing for use by an employee in traveling between the employee’s residence, the employee’s place of employment, or a mass transit facility that connects the employee to the employee’s residence or place of employment
Learn more here!
State of Colorado Grant Opportunities
The State of Colorado has many opportunities for your business to tap into from EV charging to building electrification to waste diversion and more! Check out the powerpoint in the link below to learn about these opportunities.
New Grant Programs from the Colorado Energy Office.
The Colorado Energy Office (CEO) has introduced two programs, namely the Technical Assistance Offering (TAO) and the Clean Air Program (CAP) Grants program, with the goal of cutting down greenhouse gas emissions by offering financial assistance to qualified industrial applicants in Colorado. These programs will help fund projects related to clean energy and reducing air pollutant emissions.
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Clean Air Program’s Technical Assistance Offering
CEO has partnered with CLEAResult to offer Clean Air Scope 1 Emissions Assessments for private manufacturing and industrial entities, as well as local governments with industrial processes (e.g. wastewater treatment) in Colorado. This assessment measures direct greenhouse gas emissions from sources controlled by the organization, such as fuel combustion in boilers, furnaces, vehicles, etc. The CEO will cover 70% of the assessment cost, with the remaining 30% to be paid by the participating organization. By participating, businesses can contribute to Colorado's efforts to mitigate the impacts of climate change and maximize their energy efficiency investments.
Click here for more information
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Clean Air Program (CAP) Grants
The Clean Air Program (CAP) Grants aim to reduce onsite industrial and manufacturing air pollutant emissions in Colorado by offering financial assistance in the form of project grants to eligible industrial applicants, which includes private entities, local governments, and public-private partnerships. Over its six-year duration, the program will provide a total funding amount of $25 million. The first round of funding has $10.5 million available, with a minimum funding award of $100,000 and a maximum of $1.5 million per application. To apply, eligible entities must demonstrate how they plan to voluntarily reduce air pollutant emissions through their project.
Click here for more information
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eCargo Bike Commercial Delivery Pilot Program: Applications are being accepted for the projects that will use eCargo bikes as a replacement for commercial delivery vehicles and/or fleet vehicles. An eCargo bike program eligible to receive grant funding must follow one of the following models: Commercial delivery, Public shared eCargo bikes, Gig economy delivery services, and eCargo bike fleet. Applications due June 20, 2023. Learn more and apply here!