A Bill for an Act
Page 1, Line 101Concerning the extension of the Colorado homeless
Page 1, Line 102contribution tax credit through income tax year 2030.
Bill Summary
(Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://leg.colorado.gov.)
Under current law, the Colorado homeless contribution tax credit (credit) may only be claimed through state income tax year 2026. The bill amends the credit to allow taxpayers to claim the credit through state income tax year 2030.
Page 2, Line 1Be it enacted by the General Assembly of the State of Colorado:
Page 2, Line 2SECTION 1. In Colorado Revised Statutes, 39-22-548, amend
Page 2, Line 3(1)(a), (3)(a), and (9); and add (1)(c) as follows:
Page 2, Line 439-22-548. Colorado homeless contribution tax credit -
Page 2, Line 5legislative declaration - definitions - repeal.
Page 2, Line 6(1) (a) In accordance with section 39-21-304 (1), which requires
Page 2, Line 7each bill that creates a new tax expenditure or extends an expiring tax
Page 2, Line 8expenditure to include a tax preference performance statement as part
Page 2, Line 9of a statutory legislative declaration, the general assembly finds and
Page 2, Line 10declares that the general legislative purpose of this tax expenditure is to
Page 2, Line 11induce certain designated behavior by taxpayers. Specifically, this tax
Page 2, Line 12expenditure is intended to encourage taxpayers to make contributions to
Page 2, Line 13approved nonprofit organizations providing certain qualifying activities
Page 2, Line 14to leverage financial contributions from Colorado residents and
Page 2, Line 15businesses to support providing appropriate housing and services to assist
Page 2, Line 16individuals and families experiencing homelessness. The tax expenditure
Page 2, Line 17will catalyze and strengthen statewide efforts to address the effects of
Page 2, Line 18homelessness through private investment and civic engagement in
Page 2, Line 19Colorado-based service providers for individuals and families
Page 2, Line 20experiencing homelessness.
Page 2, Line 21(c) In the first year that the tax expenditure was
Page 2, Line 22available, eight thousand three hundred twenty donations with
Page 2, Line 23a value of twenty million four hundred fifty-one thousand two
Page 2, Line 24hundred forty-three dollars were leveraged. The total number
Page 2, Line 25and value of donations increased in the next income tax year.
Page 2, Line 26Therefore, the general assembly finds and declares that this
Page 2, Line 27tax expenditure has successfully catalyzed and strengthened
Page 3, Line 1statewide efforts to address the effects of homelessness
Page 3, Line 2through private investment and civic engagement in
Page 3, Line 3Colorado-based service providers for individuals and families
Page 3, Line 4experiencing homelessness and that the tax expenditure should
Page 3, Line 5be extended into future income tax years.
Page 3, Line 6(3) (a) For income tax years commencing on or after January 1,
Page 3, Line 72023, but before
January 1, 2027Page 3, Line 8in subsection (3)(b) of this section, any taxpayer who makes a monetary
Page 3, Line 9or in-kind contribution to an approved nonprofit organization, or to an
Page 3, Line 10approved project administered by an approved nonprofit organization, is
Page 3, Line 11allowed a credit equal to twenty-five percent of the total value of the
Page 3, Line 12contribution, subject to the limitations specified in subsection (3)(d) of
Page 3, Line 13this section.
Page 3, Line 14(9) This section is repealed, effective
December 31, 2040Page 3, Line 15December 31, 2044.
Page 3, Line 16SECTION 2. Act subject to petition - effective date. This act
Page 3, Line 17takes effect at 12:01 a.m. on the day following the expiration of the
Page 3, Line 18ninety-day period after final adjournment of the general assembly (August
Page 3, Line 1912, 2026, if adjournment sine die is on May 13, 2026); except that, if a
Page 3, Line 20referendum petition is filed pursuant to section 1 (3) of article V of the
Page 3, Line 21state constitution against this act or an item, section, or part of this act
Page 3, Line 22within such period, then the act, item, section, or part will not take effect
Page 3, Line 23unless approved by the people at the general election to be held in
Page 3, Line 24November 2026 and, in such case, will take effect on the date of the
Page 3, Line 25official declaration of the vote thereon by the governor.