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Bill > SB016


CO SB016

CO SB016
Tax Credits for Contributions via Intermediaries


summary

Introduced
01/10/2024
In Committee
05/06/2024
Crossed Over
05/10/2024
Passed
05/10/2024
Dead
Signed/Enacted/Adopted
06/07/2024

Introduced Session

2024 Regular Session

Bill Summary

CONCERNING QUALIFICATION FOR STATE INCOME TAX CREDITS FOR CHARITABLE CONTRIBUTIONS TO NONPROFIT ORGANIZATIONS, AND, IN CONNECTION THEREWITH, AUTHORIZING A TAXPAYER TO MAKE A CHARITABLE CONTRIBUTION FOR WHICH THE TAXPAYER MAY CLAIM A STATE INCOME TAX CREDIT TO A CHARITABLE RECIPIENT ORGANIZATION THROUGH A QUALIFIED INTERMEDIARY THAT FORWARDS THE CONTRIBUTION TO THE CHARITABLE RECIPIENT ORGANIZATION, ALLOWING A TAX CREDIT CERTIFICATE FOR THE COLORADO HOMELESS CONTRIBUTION TAX CREDIT TO INCLUDE ONLY THE LAST FOUR DIGITS, RATHER THAN ALL DIGITS, OF A TAXPAYER'S SOCIAL SECURITY NUMBER, AND MAKING AN APPROPRIATION.

AI Summary

This bill expands the eligibility for state income tax credits for charitable contributions in Colorado. It allows taxpayers to make contributions to qualified intermediary organizations, which will then forward the contributions to approved recipient organizations, and still claim the tax credits. It also modifies the Colorado Homeless Contribution Tax Credit by allowing the tax credit certificates to include only the last four digits of the taxpayer's Social Security number instead of the full number. Additionally, the bill makes an appropriation to the Department of Revenue to implement these changes.

Committee Categories

Budget and Finance

Sponsors (22)

Last Action

Governor Signed (on 06/07/2024)

bill text


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bill summary

Document Type Source Location
State Bill Page https://leg.colorado.gov/bills/sb24-016
Fiscal Note FN3 https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_sb016_f1.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_016_enr.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_016_rer.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_016_rev.pdf
House Appropriations Amendment J.002 https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2024A/amendments/C6576AE3FE2C8FEB87258B140077090F/SB016_J.002.pdf
House Appropriations Amendment L.005 https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2024A/amendments/AFBAF5C64E65AB3B87258AFD00530D77/SB016_L.005.pdf
Fiscal Note/Analysis - Budget Staff Analysis SA2 https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_sb0016_hse.pdf
Fiscal Note FN2 https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_sb016_r1.pdf
House Finance Amendment L.002 https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2024A/amendments/996D3CC5FA96CDC087258AF9004EB348/SB016_L.002.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_016_ren.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_016_eng.pdf
Senate Appropriations Amendment J.001 https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2024A/amendments/23911FA3D666AB2887258AD90001EE2C/SB016_J.001.pdf
Fiscal Note/Analysis - Budget Staff Analysis SA1 https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_sb0016_sen.pdf
Senate Finance Amendment L.001 https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2024A/amendments/1E42260AD29CA76E87258AB40063E9F3/SB016_L.001.pdf
Fiscal Note FN1 https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_sb016_00.pdf
BillText https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_016_01.pdf
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