summary
Introduced
01/10/2024
01/10/2024
In Committee
05/06/2024
05/06/2024
Crossed Over
05/10/2024
05/10/2024
Passed
05/10/2024
05/10/2024
Dead
Signed/Enacted/Adopted
06/07/2024
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)
Jim Smallwood (R)*,
Marc Snyder (D)*,
Rick Taggart (R)*,
Rachel Zenzinger (D)*,
Shannon Bird (D),
Janet Buckner (D),
Lisa Cutter (D),
Lindsey Daugherty (D),
Tony Exum (D),
Joann Ginal (D),
Julie Gonzales (D),
Nick Hinrichsen (D),
Sheila Lieder (D),
Janice Marchman (D),
Dafna Michaelson Jenet (D),
David Ortiz (D),
Kevin Priola (D),
Naquetta Ricks (D),
Matt Soper (R),
Tom Sullivan (D),
Faith Winter (D),
Steven Woodrow (D),
Last Action
Governor Signed (on 06/07/2024)
Official Document
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