ColoradoColorado taxpayers may claim credits for homelessness donations through 2030
When the law takes effect, eligible taxpayers may claim a 25% credit for approved donations through 2030, unless a referendum petition sends it to voters.
What it does
For income tax years 2023 through 2030, taxpayers may claim a credit worth 25% of qualifying donations to approved nonprofits or their approved projects, subject to limits.
The section governing the tax credit is scheduled to end on December 31, 2044.
Argument forThe credit could encourage taxpayers to support approved groups that provide housing and services to people experiencing homelessness.
Argument againstThe credit could reduce state tax collections when eligible taxpayers claim it, leaving less revenue available for other public needs.
More detail
Taxpayers may claim a credit equal to 25% of eligible donations to approved nonprofits or their approved projects. It covers money or in-kind donations to an approved nonprofit or an approved project administered by one. The credit is subject to the limits in subsection (3)(d), which are not shown in these passages. The credit applies to income tax years starting on or after January 1, 2023, and before January 1, 2031.
The section governing the tax credit is scheduled for repeal on December 31, 2044. The repeal applies to the section governing the Colorado homeless contribution tax credit. The section is repealed effective December 31, 2044.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jun 2Governor Jared Polis SignedBecame Law
- Jun 1Signed by the Speaker of the HouseMajor
- Jun 1Signed by the President of the SenateMajor
- Jun 1Sent to the GovernorTo Governor
- May 7Senate Third Reading Passed - No AmendmentsPassed Senate
- Vote recorded BILL. Result: pass.Lower
- Vote recorded BILL. Result: pass.Upper
- May 6Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the WholeMinor
- Vote recorded Refer House Bill 26-1015 to the Committee of the Whole and with a recommendation that it be placed on the consent calendar. Result: pass.Upper
- May 6Senate Second Reading Special Order - Passed - No Amendments
- May 1Introduced In Senate - Assigned to AppropriationsMinor
- Apr 30House Third Reading Passed - No AmendmentsPassed House
- Vote recorded BILL. Result: pass.Lower
- Apr 29House Second Reading Special Order - Passed - No Amendments
- Apr 28House Committee on Appropriations Refer Unamended to House Committee of the WholeMinor
- Vote recorded Refer House Bill 26-1015 to the Committee of the Whole. Result: pass.Lower
- Feb 12House Committee on Finance Refer Unamended to AppropriationsMinor
- Vote recorded Adopt amendment L.001. Result: fail.Lower
- Vote recorded Refer House Bill 26-1015 to the Committee on Appropriations. Result: pass.Lower
- Jan 14Introduced In House - Assigned to FinanceIntroduced
Taxes & BudgetHousing