2 | | - | BY REPRESENTATIVE(S) Tipper and Rich, Amabile, Bacon, Bernett, |
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3 | | - | Bird, Boesenecker, Caraveo, Cutter, Duran, Esgar, Exum, Froelich, Gray, |
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4 | | - | Herod, Hooton, Jodeh, Kipp, Lindsay, Lontine, McCormick, McLachlan, |
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5 | | - | Michaelson Jenet, Mullica, Ricks, Sirota, Soper, Sullivan, Titone, |
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6 | | - | Valdez A., Valdez D., Woodrow, Garnett, Daugherty, Gonzales-Gutierrez, |
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7 | | - | McCluskie, Young; |
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8 | | - | also SENATOR(S) Winter and Simpson, Bridges, Danielson, Donovan, |
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9 | | - | Hansen, Hisey, Jaquez Lewis, Kolker, Moreno, Story, Woodward. |
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| 9 | + | House Committees Senate Committees |
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| 10 | + | Finance Finance |
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| 11 | + | Appropriations Appropriations |
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| 12 | + | A BILL FOR AN ACT |
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11 | | - | ONCERNING THE CREATION OF THE COLORADO HOMELESS CONTRIBUTION |
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12 | | - | INCOME TAX CREDIT |
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13 | | - | , AND, IN CONNECTION THEREWITH, MAKING AN |
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14 | | - | APPROPRIATION |
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15 | | - | . |
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16 | | - | Be it enacted by the General Assembly of the State of Colorado: |
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17 | | - | SECTION 1. In Colorado Revised Statutes, add 39-22-548 as |
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18 | | - | follows: |
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19 | | - | 39-22-548. Colorado homeless contribution tax credit - |
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| 14 | + | ONCERNING THE CREATION OF THE COLORADO HOMELESS101 |
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| 15 | + | CONTRIBUTION INCOME TAX |
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| 16 | + | CREDIT, AND, IN CONNECTION102 |
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| 17 | + | THEREWITH, MAKING AN APPROPRIATION .103 |
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| 18 | + | Bill Summary |
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| 19 | + | (Note: This summary applies to this bill as introduced and does |
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| 20 | + | not reflect any amendments that may be subsequently adopted. If this bill |
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| 21 | + | passes third reading in the house of introduction, a bill summary that |
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| 22 | + | applies to the reengrossed version of this bill will be available at |
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| 23 | + | http://leg.colorado.gov |
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| 24 | + | .) |
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| 25 | + | The bill repeals an existing income tax credit available to |
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| 26 | + | taxpayers who make contributions to enterprise zone administrators to |
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| 27 | + | promote temporary, emergency, or transitional housing programs for |
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| 28 | + | people experiencing homelessness and replaces that income tax credit |
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| 29 | + | with one that is available in the entire state. Instead of having the |
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| 30 | + | SENATE |
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| 31 | + | Amended 3rd Reading |
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| 32 | + | April 29, 2022 |
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| 33 | + | SENATE |
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| 34 | + | Amended 2nd Reading |
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| 35 | + | April 28, 2022 |
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| 36 | + | HOUSE |
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| 37 | + | 3rd Reading Unamended |
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| 38 | + | April 18, 2022 |
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| 39 | + | HOUSE |
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| 40 | + | Amended 2nd Reading |
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| 41 | + | April 14, 2022 |
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| 42 | + | HOUSE SPONSORSHIP |
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| 43 | + | Tipper and Rich, Amabile, Bacon, Bernett, Bird, Boesenecker, Caraveo, Cutter, Duran, |
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| 44 | + | Esgar, Exum, Froelich, Garnett, Gray, Herod, Hooton, Jodeh, Kipp, Lindsay, Lontine, |
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| 45 | + | McCormick, McLachlan, Michaelson Jenet, Mullica, Ricks, Sirota, Soper, Sullivan, Titone, |
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| 46 | + | Valdez A., Valdez D., Woodrow |
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| 47 | + | SENATE SPONSORSHIP |
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| 48 | + | Winter and Simpson, Bridges, Danielson, Donovan, Hansen, Hisey, Jaquez Lewis, |
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| 49 | + | Kolker, Moreno, Story, Woodward |
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| 50 | + | Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment. |
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| 51 | + | Capital letters or bold & italic numbers indicate new material to be added to existing statute. |
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| 52 | + | Dashes through the words indicate deletions from existing statute. enterprise zone administrators and the office of economic development |
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| 53 | + | manage the credit, the bill places that responsibility on the division of |
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| 54 | + | housing in the department of local affairs. |
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| 55 | + | The bill also expands the scope so that a taxpayer may claim the |
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| 56 | + | tax credit when permissible contributions are made not only to an |
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| 57 | + | approved project, but also to approved nonprofit organizations providing |
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| 58 | + | certain qualifying activities. |
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| 59 | + | The amount of the income tax credit remains the same for each |
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| 60 | + | contribution; except that, for contributions made in an underserved, rural |
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| 61 | + | county, the amount is 30% rather than 25%, and the new credit is capped |
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| 62 | + | at $750,000 in contributions for the nonprofit organization, and if the |
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| 63 | + | nonprofit organization also administers one or more approved projects, |
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| 64 | + | the new credit is capped at an additional $750,000 per project. The new |
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| 65 | + | credit's availability is limited to 8 years, and, in the same manner as the |
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| 66 | + | enterprise zone tax credit that is being repealed, any credit in excess of a |
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| 67 | + | taxpayer's liability for the income tax year for which the credit is claimed |
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| 68 | + | may be carried forward for up to 5 years. |
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| 69 | + | Be it enacted by the General Assembly of the State of Colorado:1 |
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| 70 | + | SECTION 1. In Colorado Revised Statutes, add 39-22-543 as2 |
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| 71 | + | follows:3 |
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| 72 | + | 39-22-543. Colorado homeless contribution tax credit -4 |
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21 | | - | N ACCORDANCE WITH |
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22 | | - | SECTION |
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23 | | - | 39-21-304 (1), WHICH REQUIRES EACH BILL THAT CREATES A NEW |
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24 | | - | TAX EXPENDITURE TO INCLUDE A TAX PREFERENCE PERFORMANCE |
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25 | | - | NOTE: This bill has been prepared for the signatures of the appropriate legislative |
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26 | | - | officers and the Governor. To determine whether the Governor has signed the bill |
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27 | | - | or taken other action on it, please consult the legislative status sheet, the legislative |
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28 | | - | history, or the Session Laws. |
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29 | | - | ________ |
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30 | | - | Capital letters or bold & italic numbers indicate new material added to existing law; dashes |
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31 | | - | through words or numbers indicate deletions from existing law and such material is not part of |
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32 | | - | the act. STATEMENT AS PART OF A STATUTORY LEGISLATIVE DECLARATION , THE |
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33 | | - | GENERAL ASSEMBLY FINDS AND DECLARES THAT THE GENERAL LEGISLATIVE |
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34 | | - | PURPOSE OF THIS TAX EXPENDITURE IS TO INDUCE CERTAIN DESIGNATED |
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35 | | - | BEHAVIOR BY TAXPAYERS |
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36 | | - | . SPECIFICALLY, THIS TAX EXPENDITURE IS |
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37 | | - | INTENDED TO ENCOURAGE TAXPAYERS TO MAKE CONTRIBUTIONS TO |
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38 | | - | APPROVED NONPROFIT ORGANIZATIONS PROVIDING CERTAIN QUALIFYING |
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39 | | - | ACTIVITIES TO LEVERAGE FINANCIAL CONTRIBUTIONS FROM |
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40 | | - | COLORADO |
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41 | | - | RESIDENTS AND BUSINESSES TO SUPPORT PROVIDING APPROPRIATE HOUSING |
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42 | | - | AND SERVICES TO ASSIST INDIVIDUALS AND FAMILIES EXPERIENCING |
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43 | | - | HOMELESSNESS |
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44 | | - | . THE TAX EXPENDITURE WILL CATALYZE AND STRENGTHEN |
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45 | | - | STATEWIDE EFFORTS TO ADDRESS THE EFFECTS OF HOMELESSNESS THROUGH |
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46 | | - | PRIVATE INVESTMENT AND CIVIC ENGAGEMENT IN |
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47 | | - | COLORADO-BASED |
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48 | | - | SERVICE PROVIDERS FOR INDIVIDUALS AND FAMILIES EXPERIENCING |
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49 | | - | HOMELESSNESS |
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50 | | - | . |
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| 74 | + | N ACCORDANCE5 |
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| 75 | + | WITH SECTION 39-21-304 (1), WHICH REQUIRES EACH BILL THAT CREATES6 |
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| 76 | + | A NEW TAX EXPENDITURE TO INCLUDE A TAX PREFERENCE PERFORMANCE7 |
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| 77 | + | STATEMENT AS PART OF A STATUTORY LEGISLATIVE DECLARATION , THE8 |
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| 78 | + | GENERAL ASSEMBLY FINDS AND DECLARES THAT THE GENERAL9 |
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| 79 | + | LEGISLATIVE PURPOSE OF THIS TAX EXPENDITURE IS TO INDUCE CERTAIN10 |
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| 80 | + | DESIGNATED BEHAVIOR BY TAXPAYERS . SPECIFICALLY, THIS TAX11 |
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| 81 | + | EXPENDITURE IS INTENDED TO ENCOURAGE TAXPAYERS TO MAKE12 |
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| 82 | + | CONTRIBUTIONS TO APPROVED NONPROFIT ORGANIZATIONS PROVIDING13 |
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| 83 | + | CERTAIN QUALIFYING ACTIVITIES TO LEVERAGE FINANCIAL14 |
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| 84 | + | CONTRIBUTIONS FROM COLORADO RESIDENTS AND BUSINESSES TO15 |
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| 85 | + | SUPPORT PROVIDING APPROPRIATE HOUSING AND SERVICES TO ASSIST16 |
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| 86 | + | 1083-2- INDIVIDUALS AND FAMILIES EXPERIENCING HOMELESSNESS . THE TAX1 |
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| 87 | + | EXPENDITURE WILL CATALYZE AND STRENGTHEN STATEWIDE EFFORTS TO2 |
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| 88 | + | ADDRESS THE EFFECTS OF HOMELESSNESS THR OUGH PRIVATE INVESTMENT3 |
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| 89 | + | AND CIVIC ENGAGEMENT IN COLORADO-BASED SERVICE PROVIDERS FOR4 |
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| 90 | + | INDIVIDUALS AND FAMILIES EXPERIENCING HOMELESSNESS .5 |
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127 | | - | ONPROFIT ORGANIZATION" MEANS ANY ORGANIZATION IN |
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128 | | - | GOOD STANDING WITH THE SECRETARY OF STATE THAT IS EXEMPT FROM |
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129 | | - | TAXATION PURSUANT TO SECTION |
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130 | | - | 501 (a) OF THE FEDERAL "INTERNAL |
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131 | | - | REVENUE CODE OF 1986", 26 U.S.C. SEC. 501 (a), AS AMENDED, AND LISTED |
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132 | | - | AS AN EXEMPT ORGANIZATION IN SECTION |
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133 | | - | 501 (c)(3) OF THE FEDERAL |
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134 | | - | "INTERNAL REVENUE CODE OF 1986", 26 U.S.C. SEC. 501 (c)(3), AS |
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135 | | - | AMENDED |
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136 | | - | . |
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137 | | - | PAGE 3-HOUSE BILL 22-1083 (h) "OPERATIONAL SERVICE" MEANS A SERVICE WITH THE PRIMARY |
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138 | | - | FOCUS ON ASSISTING INDIVIDUALS OR FAMILIES EXPERIENCING |
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139 | | - | HOMELESSNESS OR |
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140 | | - | , IN THE CASE OF PREVENTION, INDIVIDUALS OR FAMILIES |
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141 | | - | FACING IMMINENT RISK OF HOMELESSNESS |
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142 | | - | . AN OPERATIONAL SERVICE MUST |
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143 | | - | ALSO BE A SERVICE THAT SUPPORTS OR PROVIDES |
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144 | | - | : |
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| 154 | + | ONPROFIT ORGANIZATION" MEANS ANY ORGANIZATION IN25 |
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| 155 | + | GOOD STANDING WITH THE SECRETARY OF STATE THAT IS EXEMPT FROM26 |
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| 156 | + | TAXATION PURSUANT TO SECTION 501 (a) OF THE FEDERAL "INTERNAL27 |
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| 157 | + | 1083 |
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| 158 | + | -4- REVENUE CODE OF 1986", 26 U.S.C. SEC. 501 (a), AS AMENDED, AND1 |
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| 159 | + | LISTED AS AN EXEMPT ORGANIZATION IN SECTION 501 (c)(3) OF THE2 |
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| 160 | + | FEDERAL "INTERNAL REVENUE CODE OF 1986", 26 U.S.C. SEC. 501 (c)(3),3 |
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| 161 | + | AS AMENDED.4 |
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| 162 | + | (h) "O |
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| 163 | + | PERATIONAL SERVICE" MEANS A SERVICE |
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| 164 | + | WITH THE PRIMARY5 |
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| 165 | + | FOCUS ON ASSISTING INDIVIDUALS OR FAMILIES EXPERIENCING6 |
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| 166 | + | HOMELESSNESS OR, IN THE CASE OF PREVENTION, INDIVIDUALS OR7 |
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| 167 | + | FAMILIES FACING IMMINENT RISK OF HOMELESSNESS . AN OPERATIONAL8 |
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| 168 | + | SERVICE MUST ALSO BE A SERVICE THAT SUPPORTS OR PROVIDES :9 |
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190 | | - | AXPAYER" MEANS A RESIDENT INDIVIDUAL OR A DOMESTIC OR |
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191 | | - | FOREIGN CORPORATION SUBJECT TO PART |
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192 | | - | 3 OF THIS ARTICLE 22, A |
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193 | | - | PARTNERSHIP |
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194 | | - | , S CORPORATION, OR OTHER SIMILAR PASS-THROUGH ENTITY, |
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195 | | - | ESTATE, OR TRUST THAT MAKES A CONTRIBUTION AS AN ENTITY , AND A |
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196 | | - | PARTNER |
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197 | | - | , MEMBER, AND SUBCHAPTER S SHAREHOLDER OF SUCH A |
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198 | | - | PASS |
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199 | | - | -THROUGH ENTITY. |
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| 207 | + | AXPAYER" MEANS A RESIDENT INDIVIDUAL OR A DOMESTIC10 |
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| 208 | + | OR FOREIGN CORPORATION SUBJECT TO PART 3 OF THIS ARTICLE 22, A11 |
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| 209 | + | PARTNERSHIP, S CORPORATION, OR OTHER SIMILAR PASS -THROUGH12 |
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| 210 | + | ENTITY, ESTATE, OR TRUST THAT MAKES A CONTRIBUTION AS AN ENTITY ,13 |
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| 211 | + | AND A PARTNER, MEMBER, AND SUBCHAPTER S SHAREHOLDER OF SUCH A14 |
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| 212 | + | PASS-THROUGH ENTITY.15 |
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201 | | - | OR INCOME TAX YEARS COMMENCING ON OR AFTER JANUARY |
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202 | | - | 1, 2023, BUT BEFORE JANUARY 1, 2027, EXCEPT AS PROVIDED IN SUBSECTION |
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203 | | - | (3)(b) OF THIS SECTION, ANY TAXPAYER WHO MAKES A MONETARY OR |
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204 | | - | IN |
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205 | | - | -KIND CONTRIBUTION TO AN APPROVED NONPROFIT ORGANIZATION , OR TO |
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206 | | - | AN APPROVED PROJECT ADMINISTERED BY AN APPROVED NONPROFIT |
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207 | | - | ORGANIZATION |
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208 | | - | , IS ALLOWED A CREDIT EQUAL TO TWENTY-FIVE PERCENT OF |
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209 | | - | THE TOTAL VALUE OF THE CONTRIBUTION |
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210 | | - | , SUBJECT TO THE LIMITATIONS |
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211 | | - | SPECIFIED IN SUBSECTION |
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212 | | - | (3)(d) OF THIS SECTION. |
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| 214 | + | OR INCOME TAX YEARS COMMENCING ON OR AFTER16 |
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| 215 | + | J |
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| 216 | + | ANUARY 1, 2023, BUT BEFORE JANUARY 1, 2027, |
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| 217 | + | EXCEPT AS PROVIDED IN17 |
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| 218 | + | SUBSECTION (3)(b) OF THIS SECTION, ANY TAXPAYER WHO MAKES A18 |
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| 219 | + | MONETARY OR IN-KIND CONTRIBUTION TO AN APPROVED NONPROFIT19 |
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| 220 | + | ORGANIZATION, OR TO AN APPROVED PROJECT ADMINISTERED BY AN20 |
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| 221 | + | APPROVED NONPROFIT ORGANIZATION , IS ALLOWED A CREDIT EQUAL TO21 |
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| 222 | + | TWENTY-FIVE PERCENT OF THE TOTAL VALUE OF THE CONTRIBUTION ,22 |
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| 223 | + | SUBJECT TO THE LIMITATIONS SPECIFIED IN SUBSECTION (3)(d) OF THIS23 |
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| 224 | + | SECTION.24 |
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214 | | - | F A TAXPAYER MAKES A MONETARY OR IN -KIND CONTRIBUTION |
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215 | | - | TO AN APPROVED NONPROFIT ORGANIZATION |
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216 | | - | , OR TO AN APPROVED PROJECT |
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217 | | - | ADMINISTERED BY AN APPROVED NONPROFIT ORGANIZATION |
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218 | | - | , IN AN |
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219 | | - | UNDERSERVED |
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220 | | - | , RURAL COUNTY, AS DEFINED BY THE DIVISION IN ITS |
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221 | | - | GUIDELINES FOR THE PROGRAM |
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222 | | - | , THEN THE TAXPAYER IS ALLOWED A CREDIT |
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223 | | - | EQUAL TO THIRTY PERCENT OF THE TOTAL VALUE OF THE CONTRIBUTION |
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224 | | - | , |
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225 | | - | SUBJECT TO THE LIMITATIONS IN SUBSECTION (3)(d) OF THIS SECTION. |
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| 226 | + | F A TAXPAYER MAKES A MONETARY OR IN -KIND25 |
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| 227 | + | CONTRIBUTION TO AN APPROVED NONPROFIT ORGANIZATION , OR TO AN26 |
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| 228 | + | APPROVED PROJECT ADMINISTERED BY AN APPROVED NONPROFIT27 |
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| 229 | + | 1083 |
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| 230 | + | -6- ORGANIZATION, IN AN UNDERSERVED, RURAL COUNTY, AS DEFINED BY THE1 |
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| 231 | + | DIVISION IN ITS GUIDELINES FOR THE PROGRAM , THEN THE TAXPAYER IS2 |
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| 232 | + | ALLOWED A CREDIT EQUAL TO THIRTY PERCENT OF THE TOTAL VALUE OF3 |
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| 233 | + | THE CONTRIBUTION, SUBJECT TO THE LIMITATIONS IN SUBSECTION (3)(d)4 |
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| 234 | + | OF THIS SECTION.5 |
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227 | | - | HE APPROVED NONPROFIT ORGANIZATION THAT RECEIVES THE |
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228 | | - | ALLOWABLE CONTRIBUTION SHALL ISSUE A TAX CREDIT CERTIFICATE TO |
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229 | | - | EACH TAXPAYER THAT MAKES AN ALLOWABLE CONTRIBUTION PURSUANT TO |
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230 | | - | SUBSECTIONS |
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231 | | - | (3)(a) OR (3)(b) OF THIS SECTION; EXCEPT THAT THE |
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232 | | - | APPROVED NONPROFIT ORGANIZATION SHALL NOT ISSUE TAX CREDIT |
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233 | | - | CERTIFICATES THAT TOTAL MORE THAN SEVEN HUNDRED FIFTY THOUSAND |
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234 | | - | DOLLARS PER INCOME TAX YEAR |
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235 | | - | , AND IF THE APPROVED NONPROFIT |
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236 | | - | ORGANIZATION ADMINISTERS ONE OR MORE APPROVED PROJECTS |
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237 | | - | , IN |
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238 | | - | ADDITION TO PROVIDING A QUALIFYING SERVICE |
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239 | | - | , THEN THE APPROVED |
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240 | | - | NONPROFIT ORGANIZATION SHALL NOT ISSUE TAX CREDIT CERTIFICATES FOR |
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241 | | - | ALLOWABLE CONTRIBUTIONS TO ONE OR MORE APPROVED PROJECTS THAT |
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242 | | - | TOTAL MORE THAN AN ADDITIONAL SEVEN HUNDRED FIFTY THOUSAND |
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243 | | - | DOLLARS PER INCOME TAX YEAR |
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244 | | - | . THE TAX CREDIT CERTIFICATE MUST STATE |
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245 | | - | THE AMOUNT OF THE ALLOWABLE CONTRIBUTION |
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246 | | - | , THE TAXPAYER'S NAME, |
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247 | | - | PAGE 5-HOUSE BILL 22-1083 THE TAXPAYER'S SOCIAL SECURITY NUMBER OR FEDERAL EMPLOYER |
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248 | | - | IDENTIFICATION NUMBER |
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249 | | - | , THE TYPE OF THE CONTRIBUTION, THE DATE THE |
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250 | | - | TAXPAYER MADE THE CONTRIBUTION |
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251 | | - | , THE AMOUNT OF THE TAX CREDIT |
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252 | | - | THAT IS AUTHORIZED FOR THAT TAXPAYER |
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253 | | - | , AND ANY OTHER INFORMATION |
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254 | | - | THAT THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF REVENUE MAY |
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255 | | - | REQUIRE |
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256 | | - | . TAX CREDIT CERTIFICATES SHALL BE ISSUED IN THE ORDER OF |
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257 | | - | RECEIVED ALLOWABLE CONTRIBUTIONS |
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258 | | - | . |
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259 | | - | (d) (I) (A) T |
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260 | | - | HE CREDIT ALLOWED IN SUBSECTIONS (3)(a) AND (3)(b) |
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261 | | - | OF THIS SECTION SHALL NOT EXCEED ONE HUNDRED THOUS AND DOLLARS PER |
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262 | | - | TAXPAYER PER TAX YEAR |
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263 | | - | . |
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| 236 | + | HE APPROVED NONPROFIT ORGANIZATION THAT RECEIVES THE6 |
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| 237 | + | ALLOWABLE CONTRIBUTION SHALL ISSUE A TAX CREDIT CERTIFICATE TO7 |
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| 238 | + | EACH TAXPAYER THAT MAKES AN ALLOWABLE CONTRIBUTION PURSUANT8 |
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| 239 | + | TO SUBSECTIONS (3)(a) |
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| 240 | + | OR (3)(b) OF THIS SECTION; EXCEPT THAT THE9 |
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| 241 | + | APPROVED NONPROFIT ORGANIZATION SHALL NOT ISSUE TAX CREDIT10 |
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| 242 | + | CERTIFICATES THAT TOTAL MORE THAN SEVEN HUNDRED FIFTY THOUSAND11 |
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| 243 | + | DOLLARS PER INCOME TAX YEAR , AND IF THE APPROVED NONPROFIT12 |
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| 244 | + | ORGANIZATION ADMINISTERS ONE OR MORE APPROVED PROJECTS , IN13 |
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| 245 | + | ADDITION TO PROVIDING A QUALIFYING SERVICE , THEN THE APPROVED14 |
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| 246 | + | NONPROFIT ORGANIZATION SHALL NOT ISSUE TAX CREDIT CERTIFICATES15 |
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| 247 | + | FOR ALLOWABLE CONTRIBUTIONS TO ONE OR MORE APPROVED PROJECTS16 |
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| 248 | + | THAT TOTAL MORE THAN AN ADDITIONAL SEVEN HUNDRED FIFTY17 |
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| 249 | + | THOUSAND DOLLARS PER INCOME TAX YEAR . THE TAX CREDIT18 |
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| 250 | + | CERTIFICATE MUST STATE THE AMOUNT OF THE ALLOWABLE19 |
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| 251 | + | CONTRIBUTION, THE TAXPAYER 'S NAME, THE TAXPAYER 'S SOCIAL20 |
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| 252 | + | SECURITY NUMBER OR FEDERAL EMPLOYER IDENTIFICATION NUMBER , THE21 |
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| 253 | + | TYPE OF THE CONTRIBUTION , THE DATE THE TAXPAYER MADE THE22 |
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| 254 | + | CONTRIBUTION, THE AMOUNT OF THE TAX CREDIT THAT IS AUTHORIZED23 |
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| 255 | + | FOR THAT TAXPAYER , AND ANY OTHER INFORMATION THAT THE24 |
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| 256 | + | EXECUTIVE DIRECTOR OF THE DEPARTMENT OF REVENUE MAY REQUIRE .25 |
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| 257 | + | T |
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| 258 | + | AX CREDIT CERTIFICATES SHALL BE ISSUED IN THE ORDER OF RECEIVED26 |
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| 259 | + | ALLOWABLE CONTRIBUTIONS .27 |
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| 260 | + | 1083 |
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| 261 | + | -7- (d) (I) (A) THE CREDIT ALLOWED IN SUBSECTIONS (3)(a) AND1 |
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| 262 | + | (3)(b) |
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| 263 | + | OF THIS SECTION |
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| 264 | + | SHALL NOT EXCEED ONE HUNDRED THOUSAND2 |
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| 265 | + | DOLLARS PER TAXPAYER PER TAX YEAR.3 |
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286 | | - | F THE AMOUNT OF THE ALLOWED CREDIT EXCEEDS THE AM OUNT |
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287 | | - | OF INCOME TAXES OTHERWISE DUE ON THE INCOME OF THE TAXPAYER IN THE |
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288 | | - | INCOME TAX YEAR FOR WHICH THE CREDIT IS BEING CLAIMED |
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289 | | - | , THE AMOUNT |
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290 | | - | OF THE CREDIT NOT USED AS AN OFFSET AGAINST INCOME TAXES IN THAT |
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291 | | - | INCOME TAX YEAR MAY BE CARRIED FORWARD AS A CREDIT AGAINST |
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292 | | - | SUBSEQUENT YEARS |
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293 | | - | ' INCOME TAX LIABILITY FOR A PERIOD NOT EXCEEDING |
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294 | | - | FIVE YEARS AND MUST BE APPLIED FIRST TO THE EARLIEST INCOME TAX |
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295 | | - | YEARS POSSIBLE |
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296 | | - | . ANY CREDIT REMAINING AFTER THE PERIOD MAY NOT BE |
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297 | | - | REFUNDED OR CREDITED TO THE TAXPAYER |
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298 | | - | . |
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| 283 | + | F THE AMOUNT OF THE ALLOWED CREDIT EXCEEDS THE17 |
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| 284 | + | AMOUNT OF INCOME TAXES OTHERWISE DUE ON THE INCOME OF THE18 |
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| 285 | + | TAXPAYER IN THE INCOME TAX YEAR FOR WHICH THE CREDIT IS BEING19 |
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| 286 | + | CLAIMED, THE AMOUNT OF THE CREDIT NOT USED AS AN OFFSET AGAINST20 |
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| 287 | + | INCOME TAXES IN THAT INCOME TAX YEAR MAY BE CARRIED FORWARD AS21 |
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| 288 | + | A CREDIT AGAINST SUBSEQUENT YEARS ' INCOME TAX LIABILITY FOR A22 |
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| 289 | + | PERIOD NOT EXCEEDING FIVE YEARS AND MUST BE APPLIED FIRST TO THE23 |
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| 290 | + | EARLIEST INCOME TAX YEARS POSSIBLE . ANY CREDIT REMAINING AFTER24 |
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| 291 | + | THE PERIOD MAY NOT BE REFUNDED OR CREDITED TO THE TAXPAYER .25 |
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300 | | - | N OR BEFORE NOVEMBER 1, 2022, AND ON OR BEFORE |
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301 | | - | NOVEMBER 1 OF EACH YEAR THEREAFTER, THE DIVISION SHALL DEVELOP |
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302 | | - | PAGE 6-HOUSE BILL 22-1083 AND POST ON THE DIVISION'S WEBSITE A LIST, INCLUDING A DESCRIPTION, OF |
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303 | | - | ALL APPROVED NONPROFIT ORGANIZATIONS AND ANY APPROVED PROJECTS |
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304 | | - | ADMINISTERED BY AN APPROVED NONPROFIT ORGANIZATION TO WHICH |
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305 | | - | TAXPAYERS MAY CONTRIBUTE DURING THE NEXT CALENDAR YEAR FOR THE |
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306 | | - | PURPOSE OF RECEIVING A TAX CREDIT PURSUANT TO THIS SECTION |
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307 | | - | . ANY |
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308 | | - | MODIFICATIONS TO THE LIST |
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309 | | - | , INCLUDING NONPROFIT ORGANIZATIONS OR |
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310 | | - | PROPOSED PROJECTS OF AN APPROVED NONPROFIT ORGANIZATION THAT ARE |
---|
311 | | - | LATER APPROVED |
---|
312 | | - | , MUST BE POSTED ON THE DIVISION'S WEBSITE NO LATER |
---|
313 | | - | THAN SIXTY DAYS AFTER THE MODIFICATION IS MADE |
---|
314 | | - | . THE DIVISION SHALL |
---|
315 | | - | REVIEW A PROPOSED NONPROFIT ORGANIZATION AND ANY PROPOSED |
---|
316 | | - | PROJECT OF AN APPROVED NONPROFIT ORGANIZATION FOR ELIGIBILITY AND |
---|
317 | | - | APPROVAL AS DESCRIBED IN SUBSECTION |
---|
318 | | - | (5) OF THIS SECTION. |
---|
| 293 | + | N OR BEFORE NOVEMBER 1, 2022, AND ON OR BEFORE26 |
---|
| 294 | + | N |
---|
| 295 | + | OVEMBER 1 OF EACH YEAR THEREAFTER, THE DIVISION SHALL DEVELOP27 |
---|
| 296 | + | 1083 |
---|
| 297 | + | -8- AND POST ON THE DIVISION'S WEBSITE A LIST, INCLUDING A DESCRIPTION,1 |
---|
| 298 | + | OF ALL APPROVED NONPROFIT ORGANIZATIONS AND ANY APPROVED2 |
---|
| 299 | + | PROJECTS ADMINISTERED BY AN APPROVED NONPROFIT ORGANIZATION TO3 |
---|
| 300 | + | WHICH TAXPAYERS MAY CONTRIBUTE DURING THE NEXT CALENDAR YEAR4 |
---|
| 301 | + | FOR THE PURPOSE OF RECEIVING A TAX CREDIT PURSUANT TO THIS5 |
---|
| 302 | + | SECTION. ANY MODIFICATIONS TO THE LIST , INCLUDING NONPROFIT6 |
---|
| 303 | + | ORGANIZATIONS OR PROPOSED PROJECTS OF AN APPROVED NONPROFIT7 |
---|
| 304 | + | ORGANIZATION THAT ARE LATER APPROVED , MUST BE POSTED ON THE8 |
---|
| 305 | + | DIVISION'S WEBSITE NO LATER THAN SIXTY DAYS AFTER THE MODIFICATION9 |
---|
| 306 | + | IS MADE. THE DIVISION SHALL REVIEW A PROPOSED NONPROFIT10 |
---|
| 307 | + | ORGANIZATION AND ANY PROPOSED PROJECT OF AN APPROVED NONPROFIT11 |
---|
| 308 | + | ORGANIZATION FOR ELIGIBILITY AND APPROVAL AS DESCRIBED IN12 |
---|
| 309 | + | SUBSECTION (5) OF THIS SECTION.13 |
---|
363 | | - | UBMITS A RECENT AUDIT OR FINANCIAL REPORT TO THE |
---|
364 | | - | DIVISION IN A FORM THAT IS ACCEPTABLE TO THE DIVISION |
---|
365 | | - | ; AND |
---|
366 | | - | (E) NO LATER THAN FOUR YEARS FROM THE EFFECTIVE DATE OF THIS |
---|
367 | | - | SECTION |
---|
368 | | - | , SUBMITS AN APPLICATION FOR REAPPROVAL PURSUANT TO |
---|
369 | | - | SUBSECTION |
---|
370 | | - | (5)(g) OF THIS SECTION. |
---|
371 | | - | (III) W |
---|
372 | | - | HEN REVIEWING APPLICATIONS AND ORGANIZATIONS FOR |
---|
373 | | - | APPROVAL PURSUANT TO SUBSECTIONS |
---|
374 | | - | (5)(a)(I) AND (5)(a)(II) OF THIS |
---|
375 | | - | SECTION |
---|
376 | | - | , WITH RESPECT TO A NONPROFIT ORGANIZATION 'S PROPOSED |
---|
377 | | - | QUALIFYING ACTIVITY OR ACTIVITIES |
---|
378 | | - | , THE DIVISION SHALL CONSIDER THE |
---|
379 | | - | FINANCIAL MANAGEMENT CAPACITY AND OPERATIONAL CAPACITY OF THE |
---|
380 | | - | NONPROFIT ORGANIZATION AND EVALUATE THE CAPABILITY OF THE |
---|
381 | | - | NONPROFIT ORGANIZATION TO ENTER A MONITORING AGREEMENT FOR THE |
---|
382 | | - | PURPOSE OF THE DIVISION EVALUATING THE EFFICACY OF THE NONPROFIT |
---|
383 | | - | ORGANIZATION AND ITS QUALIFYING ACTIVITY OR ACTIVITIES |
---|
384 | | - | . |
---|
| 346 | + | UBMITS A RECENT AUDIT OR FINANCIAL REPORT TO THE11 |
---|
| 347 | + | DIVISION IN A FORM THAT IS ACCEPTABLE TO THE DIVISION; AND12 |
---|
| 348 | + | (E) N |
---|
| 349 | + | O LATER THAN FOUR YEARS FROM THE EFFECTIVE DATE OF13 |
---|
| 350 | + | THIS SECTION, SUBMITS AN APPLICATION FOR REAPPROVAL PURSUANT TO14 |
---|
| 351 | + | SUBSECTION (5)(g) OF THIS SECTION.15 |
---|
| 352 | + | (III) WHEN REVIEWING APPLICATIONS AND ORGANIZATIONS FOR16 |
---|
| 353 | + | APPROVAL PURSUANT TO SUBSECTIONS (5)(a)(I) AND (5)(a)(II) OF THIS17 |
---|
| 354 | + | SECTION, WITH RESPECT TO A NONPROFIT ORGANIZATION 'S PROPOSED18 |
---|
| 355 | + | QUALIFYING ACTIVITY OR ACTIVITIES, THE DIVISION SHALL CONSIDER THE19 |
---|
| 356 | + | FINANCIAL MANAGEMENT CAPACITY AND OPERATIONAL CAPACITY OF THE20 |
---|
| 357 | + | NONPROFIT ORGANIZATION AND EVALUATE THE CAPABILITY OF THE21 |
---|
| 358 | + | NONPROFIT ORGANIZATION TO ENTER A MONITORING AGREEMENT FOR THE22 |
---|
| 359 | + | PURPOSE OF THE DIVISION EVALUATING THE EFFICACY OF THE NONPROFIT23 |
---|
| 360 | + | ORGANIZATION AND ITS QUALIFYING ACTIVITY OR ACTIVITIES .24 |
---|
402 | | - | NCE APPROVED, THE NONPROFIT ORGANIZATION SHALL |
---|
403 | | - | MAINTAIN AN ACCOUNTING SYSTEM AND APPROPRIATE RECORDS TO TRACK |
---|
404 | | - | CONTRIBUTIONS RECEIVED BY TAXPAYERS FOR WHICH A TAX CREDIT WAS |
---|
405 | | - | ALLOWED UNDER THIS SECTION AND TO ACCURATELY ASSOCIATE THE USE OF |
---|
406 | | - | THE CONTRIBUTIONS WITH QUALIFYING ACTIVITIES |
---|
407 | | - | , AN APPROVED PROJECT, |
---|
408 | | - | OR BOTH. |
---|
409 | | - | PAGE 8-HOUSE BILL 22-1083 (e) THE DIVISION SHALL SPECIFY IN PROGRAM GUIDELINES WHAT |
---|
410 | | - | INFORMATION REGARDING QUALIFYING ACTIVITIES MUST BE REPORTED BY |
---|
411 | | - | THE NONPROFIT ORGANIZATION AND CAN REQUEST FROM THE NONPROFIT |
---|
412 | | - | ORGANIZATION AN AUDIT OR FINANCIAL REPORT IN A FORM THAT IS |
---|
413 | | - | ACCEPTABLE TO THE DIVISION |
---|
414 | | - | . |
---|
| 375 | + | NCE APPROVED, THE NONPROFIT ORGANIZATION SHALL8 |
---|
| 376 | + | MAINTAIN AN ACCOUNTING SYSTEM AND APPROPRIATE RECORDS TO TRACK9 |
---|
| 377 | + | CONTRIBUTIONS RECEIVED BY TAXPAYERS FOR WHICH A TAX CREDIT WAS10 |
---|
| 378 | + | ALLOWED UNDER THIS SECTION AND TO ACCURATELY ASSOCIATE THE USE11 |
---|
| 379 | + | OF THE CONTRIBUTIONS WITH QUALIFYING ACTIVITIES , AN APPROVED12 |
---|
| 380 | + | PROJECT, OR BOTH.13 |
---|
| 381 | + | (e) T |
---|
| 382 | + | HE DIVISION SHALL SPECIFY IN PROGRAM GUIDELINES WHAT14 |
---|
| 383 | + | INFORMATION REGARDING QUALIFYING ACTIVITIES MUST BE REPORTED BY15 |
---|
| 384 | + | THE NONPROFIT ORGANIZATION AND CAN REQUEST FROM THE NONPROFIT16 |
---|
| 385 | + | ORGANIZATION AN AUDIT OR FINANCIAL REPORT IN A FORM THAT IS17 |
---|
| 386 | + | ACCEPTABLE TO THE DIVISION.18 |
---|
416 | | - | O LATER THAN FEBRUARY 15, 2023, THE DIVISION SHALL |
---|
417 | | - | COMPLETE A REVIEW OF EVERY ORGANIZATION AND PROJECT DEEMED |
---|
418 | | - | APPROVED UNDER SUBSECTION |
---|
419 | | - | (5)(a)(II) OF THIS SECTION, AND NO LATER |
---|
420 | | - | THAN |
---|
421 | | - | FEBRUARY 15, 2024, AND FEBRUARY 15 OF EACH YEAR THEREAFTER, |
---|
422 | | - | THE DIVISION SHALL COMPLETE A REVIEW OF EVERY OTHER APPROVED |
---|
423 | | - | NONPROFIT ORGANIZATION AND APPROVED PROJECT TO EVALUATE |
---|
424 | | - | PERFORMANCE AND COMPLIANCE WITH THE REQUIREMENTS OF THIS SECTION |
---|
425 | | - | . |
---|
426 | | - | T |
---|
427 | | - | HE DIVISION MUST REVIEW THE QUALIFYING ACTIVITIES BEING PROVIDED |
---|
428 | | - | AND DETERMINE HOW THE ACTIVITIES ARE ADDRESSING CURRENT AND |
---|
429 | | - | EMERGING NEEDS OF INDIVIDUALS AND FAMILIES EXPERIENCING |
---|
430 | | - | HOMELESSNESS IN EACH APPROVED NONPROFIT OR GANIZATION |
---|
431 | | - | 'S |
---|
432 | | - | COMMUNITY |
---|
433 | | - | , OR, IF APPLICABLE, EACH APPROVED PROJECT'S COMMUNITY. |
---|
| 388 | + | O LATER THAN FEBRUARY 15, 2023, THE DIVISION SHALL19 |
---|
| 389 | + | COMPLETE A REVIEW OF EVERY ORGANIZATION AND PROJECT DEEMED20 |
---|
| 390 | + | APPROVED UNDER SUBSECTION (5)(a)(II) OF THIS SECTION, AND NO LATER21 |
---|
| 391 | + | THAN FEBRUARY 15, 2024, AND FEBRUARY 15 OF EACH YEAR22 |
---|
| 392 | + | THEREAFTER, THE DIVISION SHALL COMPLETE A REVIEW OF EVERY OTHER23 |
---|
| 393 | + | APPROVED NONPROFIT ORGANIZATION AND APPROVED PROJECT TO24 |
---|
| 394 | + | EVALUATE PERFORMANCE AND COMPLIANCE WITH THE REQUIREMENTS OF25 |
---|
| 395 | + | THIS SECTION. THE DIVISION MUST REVIEW THE QUALIFYING ACTIVITIES26 |
---|
| 396 | + | BEING PROVIDED AND DETERMINE HOW THE ACTIVITIES ARE ADDRESSING27 |
---|
| 397 | + | 1083 |
---|
| 398 | + | -11- CURRENT AND EMERGING NEEDS OF INDIVIDUALS AND FAMILIES1 |
---|
| 399 | + | EXPERIENCING HOMELESSNESS IN EACH APPROVED NONPROFIT2 |
---|
| 400 | + | ORGANIZATION'S COMMUNITY, OR, IF APPLICABLE, EACH APPROVED3 |
---|
| 401 | + | PROJECT'S COMMUNITY.4 |
---|
435 | | - | HE DIVISION HAS THE AUTHORITY TO MONITOR AND AUDIT |
---|
436 | | - | APPROVED NONPROFIT ORGANIZATIONS AND THEIR PERFORMANCE AND MAY |
---|
437 | | - | DISAPPROVE AN APPROVED NONPROFIT ORGANIZATION OR AN APPROVED |
---|
438 | | - | PROJECT OF AN APPROVED NONPROFIT ORGANIZATION IF THE APPROVED |
---|
439 | | - | NONPROFIT ORGANIZATION IS NOT MEETING EXPECTATIONS OR IF THE |
---|
440 | | - | APPROVED NONPROFIT ORGANIZATION IS OTHERWISE NOT IN COMPLIANCE |
---|
441 | | - | WITH OBJECTIVES OUTLINED IN THIS SECTION OR PROGRAM GUIDELINES |
---|
442 | | - | , OR, |
---|
443 | | - | IF APPLICABLE, IN THE PROJECT PROPOSAL . THE DIVISION SHALL |
---|
444 | | - | IMMEDIATELY NOTIFY THE DEPARTMENT OF REVENUE IF AN APPROVED |
---|
445 | | - | NONPROFIT ORGANIZATION OR AN APPROVED PROJECT OF AN APPROVED |
---|
446 | | - | NONPROFIT ORGANIZATION IS DISAPPROVED AS A RESULT OF A REVIEW OR |
---|
447 | | - | AUDIT IN ORDER TO ENSURE THAT CONTRIBUTIONS MADE BY TAXPAYERS ON |
---|
448 | | - | OR AFTER THE DATE OF DISAPPROVAL ARE NO LONGER ELIGIBLE FOR THE TAX |
---|
449 | | - | CREDIT ALLOWED IN THIS SECTION |
---|
450 | | - | . |
---|
| 403 | + | HE DIVISION HAS THE AUTHORITY TO MONITOR AND AUDIT5 |
---|
| 404 | + | APPROVED NONPROFIT ORGANIZATIONS AND THEIR PERFORMANCE AND6 |
---|
| 405 | + | MAY DISAPPROVE AN APPROVED NONPROFIT ORGANIZATION OR AN7 |
---|
| 406 | + | APPROVED PROJECT OF AN APPROVED NONPROFIT ORGANIZATION IF THE8 |
---|
| 407 | + | APPROVED NONPROFIT ORGANIZATION IS NOT MEETING EXPECTATIONS OR9 |
---|
| 408 | + | IF THE APPROVED NONPROFIT ORGANIZATION IS OTHERWISE NOT IN10 |
---|
| 409 | + | COMPLIANCE WITH OBJECTIVES OUTLINED IN THIS SECTION OR PROGRAM11 |
---|
| 410 | + | GUIDELINES, OR, IF APPLICABLE, IN THE PROJECT PROPOSAL. THE DIVISION12 |
---|
| 411 | + | SHALL IMMEDIATELY NOTIFY THE DEPARTMENT OF REVENUE IF AN13 |
---|
| 412 | + | APPROVED NONPROFIT ORGANIZATION OR AN APPROVED PROJECT OF AN14 |
---|
| 413 | + | APPROVED NONPROFIT ORGANIZATION IS DISAPPROVED AS A RESULT OF A15 |
---|
| 414 | + | REVIEW OR AUDIT IN ORDER TO ENSURE THAT CONTRIBUTIONS MADE BY16 |
---|
| 415 | + | TAXPAYERS ON OR AFTER THE DATE OF DISAPPROVAL ARE NO LONGER17 |
---|
| 416 | + | ELIGIBLE FOR THE TAX CREDIT ALLOWED IN THIS SECTION .18 |
---|
452 | | - | N APPROVED NONPROFIT ORGANIZATION SHALL APPLY FOR |
---|
453 | | - | REAPPROVAL WITH THE DIVISION EVERY FOUR YEARS IN THE SAME MANNER |
---|
454 | | - | PROVIDED FOR APPROVAL IN SUBSECTION |
---|
455 | | - | (5)(a)(I) OF THIS SECTION. WHEN |
---|
456 | | - | APPLYING FOR REAPPROVAL |
---|
457 | | - | , THE NONPROFIT ORGANIZATION MAY ADD OR |
---|
458 | | - | REMOVE QUALIFYING ACTIVITIES IN THE REAPPROVAL APPLICATION |
---|
459 | | - | . IT IS |
---|
460 | | - | EXPECTED THAT A NONPROFIT OR GANIZATION WILL REVISE ANY PREVIOUSLY |
---|
461 | | - | PAGE 9-HOUSE BILL 22-1083 APPROVED GOALS, OBJECTIVES, AND EXPECTED OUTCOMES OF ITS |
---|
462 | | - | QUALIFYING ACTIVITIES TO ADJUST TO CHANGES IN COMMUNITY NEEDS |
---|
463 | | - | , |
---|
464 | | - | EMERGING BEST PRACTICES, AND FEEDBACK FROM THE DIVISION. |
---|
| 418 | + | N APPROVED NONPROFIT ORGANIZATION SHALL APPLY FOR19 |
---|
| 419 | + | REAPPROVAL WITH THE DIVISION EVERY FOUR YEARS IN THE SAME20 |
---|
| 420 | + | MANNER PROVIDED FOR APPROVAL IN SUBSECTION (5)(a)(I) OF THIS21 |
---|
| 421 | + | SECTION. WHEN APPLYING FOR REAPPROVAL , THE NONPROFIT22 |
---|
| 422 | + | ORGANIZATION MAY ADD OR REMOVE QUALIFYING ACTIVITIES IN THE23 |
---|
| 423 | + | REAPPROVAL APPLICATION . IT IS EXPECTED THAT A NONPROFIT24 |
---|
| 424 | + | ORGANIZATION WILL REVISE ANY PREVIOUSLY APPROVED GOALS ,25 |
---|
| 425 | + | OBJECTIVES, AND EXPECTED OUTCOMES OF ITS QUALIFYING ACTIVITIES TO26 |
---|
| 426 | + | ADJUST TO CHANGES IN COMMUNITY NEEDS , EMERGING BEST PRACTICES,27 |
---|
| 427 | + | 1083 |
---|
| 428 | + | -12- AND FEEDBACK FROM THE DIVISION .1 |
---|
466 | | - | HE DIVISION SHALL PRESENT AN ANNUAL REVIEW OF APPROVED |
---|
467 | | - | NONPROFIT ORGANIZATIONS AND ANY APPROVED PROJECTS ADMINISTERED |
---|
468 | | - | BY AN APPROVED NONPROFIT ORGANIZATION TO THE STATE HOUSING BOARD |
---|
469 | | - | CREATED IN SECTION |
---|
470 | | - | 24-32-706. THE ANNUAL REVIEW MUST INCLUDE |
---|
471 | | - | INDIVIDUAL AND COLLECTIVE OUTPUTS AND OUTCOMES OF EACH APPROVED |
---|
472 | | - | NONPROFIT ORGANIZATION DESCRIBED IN THIS SECTION AND MUST |
---|
473 | | - | SUMMARIZE CONTRIBUTIONS RECEIVED AND TAX CREDIT CERTIFICATES |
---|
474 | | - | ISSUED FOR THE REPORTING PERIOD |
---|
475 | | - | , INCLUDING AN ESTIMATE OF EXPECTED |
---|
476 | | - | CONTRIBUTIONS FOR THE UPCOMING CALENDAR YEAR |
---|
477 | | - | . |
---|
| 430 | + | HE DIVISION SHALL PRESENT AN ANNUAL REVIEW OF2 |
---|
| 431 | + | APPROVED NONPROFIT ORGANIZATIONS AND ANY APPROVED PROJECTS3 |
---|
| 432 | + | ADMINISTERED BY AN APPROVED NONPROFIT ORGANIZATION TO THE STATE4 |
---|
| 433 | + | HOUSING BOARD CREATED IN SECTION 24-32-706. THE ANNUAL REVIEW5 |
---|
| 434 | + | MUST INCLUDE INDIVIDUAL AND COLLECTIVE OUTPUTS AND OUTCOMES OF6 |
---|
| 435 | + | EACH APPROVED NONPROFIT ORGANIZATION DESCRIBED IN THIS SECTION7 |
---|
| 436 | + | AND MUST SUMMARIZE CONTRIBUTIONS RECEIVED AND TAX CREDIT8 |
---|
| 437 | + | CERTIFICATES ISSUED FOR THE REPORTING PERIOD , INCLUDING AN9 |
---|
| 438 | + | ESTIMATE OF EXPECTED CONTRIBUTIONS FOR THE UPCOMING CALENDAR10 |
---|
| 439 | + | YEAR.11 |
---|
479 | | - | HE DIVISION SHALL DEVELOP PROGRAM GUIDELINES , WITH |
---|
480 | | - | STAKEHOLDER INVOLVEMENT |
---|
481 | | - | , FOR THE ADMINISTRATION OF THIS SECTION. |
---|
482 | | - | (8) (a) O |
---|
483 | | - | N OR BEFORE SEPTEMBER 30 OF EACH CALENDAR YEAR, THE |
---|
484 | | - | STATE DIRECTOR OF HOUSING OR THE DIRECTOR |
---|
485 | | - | 'S DESIGNEE SHALL |
---|
486 | | - | TRANSMIT TO THE DEPARTMENT OF REVENUE THE DATA REGARDING INCOME |
---|
487 | | - | TAX CREDITS ALLOWED PURSUANT TO THIS SECTION THAT ARE CERTIFIED OR |
---|
488 | | - | APPROVED BY THE DIVISION FROM |
---|
489 | | - | JANUARY 1 THROUGH JUNE 30 OF THE |
---|
490 | | - | SAME CALENDAR YEAR |
---|
491 | | - | . |
---|
492 | | - | (b) O |
---|
493 | | - | N OR BEFORE MARCH 31 OF EACH CALENDAR YEAR, THE STATE |
---|
494 | | - | DIRECTOR OF HOUSING OR THE DIRECTOR |
---|
495 | | - | 'S DESIGNEE SHALL TRANSMIT TO |
---|
496 | | - | THE DEPARTMENT OF REVENUE THE DATA REGARDING INCOME TAX CREDITS |
---|
497 | | - | ALLOWED PURSUANT TO THIS SECTION THAT ARE CERTIFIED OR APPROVED BY |
---|
498 | | - | THE DIVISION FROM |
---|
499 | | - | JULY 1 THROUGH DECEMBER 31 OF THE PREVIOUS |
---|
500 | | - | CALENDAR YEAR |
---|
501 | | - | . |
---|
502 | | - | (9) T |
---|
503 | | - | HIS SECTION IS REPEALED, EFFECTIVE DECEMBER 31, 2040. |
---|
504 | | - | SECTION 2. In Colorado Revised Statutes, 39-30-103.5, amend |
---|
505 | | - | (3)(a) introductory portion; and add (3)(c) as follows: |
---|
506 | | - | 39-30-103.5. Credit against tax - contributions to enterprise zone |
---|
507 | | - | administrators to implement economic development plans - repeal. |
---|
508 | | - | (3) (a) P |
---|
509 | | - | RIOR TO JANUARY 1, 2023, monetary or in-kind contributions to |
---|
510 | | - | promote temporary, emergency, or transitional housing programs for the |
---|
511 | | - | PAGE 10-HOUSE BILL 22-1083 homeless that offer or provide referrals to child care, job placement, and |
---|
512 | | - | counseling services for the purpose of promoting employment for homeless |
---|
513 | | - | persons in enterprise zones shall be deemed to be for the purpose of |
---|
514 | | - | implementing the economic development plan for the enterprise zone and |
---|
515 | | - | shall include but not be limited to the following types of contributions: |
---|
| 441 | + | HE DIVISION SHALL DEVELOP PROGRAM GUIDELINES , WITH12 |
---|
| 442 | + | STAKEHOLDER INVOLVEMENT , FOR THE ADMINISTRATION OF THIS SECTION.13 |
---|
| 443 | + | (8) (a) ON OR BEFORE SEPTEMBER 30 OF EACH CALENDAR YEAR,14 |
---|
| 444 | + | THE STATE DIRECTOR OF HOUSING OR THE DIRECTOR 'S DESIGNEE SHALL15 |
---|
| 445 | + | TRANSMIT TO THE DEPARTMENT OF REVENUE THE DATA REGARDING16 |
---|
| 446 | + | INCOME TAX CREDITS ALLOWED PURSUANT TO THIS SECTION THAT ARE17 |
---|
| 447 | + | CERTIFIED OR APPROVED BY THE DIVISION FROM JANUARY 1 THROUGH18 |
---|
| 448 | + | JUNE 30 OF THE SAME CALENDAR YEAR.19 |
---|
| 449 | + | (b) ON OR BEFORE MARCH 31 OF EACH CALENDAR YEAR, THE20 |
---|
| 450 | + | STATE DIRECTOR OF HOUSING OR THE DIRECTOR'S DESIGNEE SHALL21 |
---|
| 451 | + | TRANSMIT TO THE DEPARTMENT OF REVENUE THE DATA REGARDING22 |
---|
| 452 | + | INCOME TAX CREDITS ALLOWED PURSUANT TO THIS SECTION THAT ARE23 |
---|
| 453 | + | CERTIFIED OR APPROVED BY THE DIVISION FROM JULY 1 THROUGH24 |
---|
| 454 | + | DECEMBER 31 OF THE PREVIOUS CALENDAR YEAR .25 |
---|
| 455 | + | (9) THIS SECTION IS REPEALED, EFFECTIVE DECEMBER 31, 2040.26 |
---|
| 456 | + | SECTION 2. In Colorado Revised Statutes, 39-30-103.5, amend27 |
---|
| 457 | + | 1083 |
---|
| 458 | + | -13- (3)(a) introductory portion; and add (3)(c) as follows:1 |
---|
| 459 | + | 39-30-103.5. Credit against tax - contributions to enterprise2 |
---|
| 460 | + | zone administrators to implement economic development plans -3 |
---|
| 461 | + | repeal. (3) (a) P |
---|
| 462 | + | RIOR TO JANUARY 1, 2023, monetary or in-kind4 |
---|
| 463 | + | contributions to promote temporary, emergency, or transitional housing5 |
---|
| 464 | + | programs for the homeless that offer or provide referrals to child care, job6 |
---|
| 465 | + | placement, and counseling services for the purpose of promoting7 |
---|
| 466 | + | employment for homeless persons in enterprise zones shall be deemed to8 |
---|
| 467 | + | be for the purpose of implementing the economic development plan for9 |
---|
| 468 | + | the enterprise zone and shall include but not be limited to the following10 |
---|
| 469 | + | types of contributions:11 |
---|
517 | | - | HIS SUBSECTION (3) IS REPEALED, EFFECTIVE DECEMBER 31, |
---|
518 | | - | 2032. |
---|
519 | | - | SECTION 3. Appropriation. (1) For the 2022-23 state fiscal year, |
---|
520 | | - | $129,613 is appropriated to the department of local affairs. This |
---|
521 | | - | appropriation is from the general fund. To implement this act, the |
---|
522 | | - | department may use this appropriation as follows: |
---|
523 | | - | (a) $30,595 for use by executive director's office for payments to |
---|
524 | | - | OIT; |
---|
525 | | - | (b) $83,268 for use by the division of housing for personal services, |
---|
526 | | - | which amount is based on an assumption that the division will require an |
---|
527 | | - | additional 1.2 FTE; and |
---|
528 | | - | (c) $15,750 for use by the division of housing for operating |
---|
529 | | - | expenses. |
---|
530 | | - | (2) For the 2022-23 state fiscal year, $30,595 is appropriated to the |
---|
531 | | - | office of the governor for use by the office of information technology. This |
---|
532 | | - | appropriation is from reappropriated funds received from the department of |
---|
533 | | - | local affairs under subsection (1)(a) of this section. To implement this act, |
---|
534 | | - | the office may use this appropriation to provide information technology |
---|
535 | | - | services for the department of local affairs. |
---|
536 | | - | SECTION 4. Act subject to petition - effective date. This act |
---|
537 | | - | takes effect at 12:01 a.m. on the day following the expiration of the |
---|
538 | | - | ninety-day period after final adjournment of the general assembly; except |
---|
539 | | - | that, if a referendum petition is filed pursuant to section 1 (3) of article V |
---|
540 | | - | of the state constitution against this act or an item, section, or part of this act |
---|
541 | | - | within such period, then the act, item, section, or part will not take effect |
---|
542 | | - | unless approved by the people at the general election to be held in |
---|
543 | | - | PAGE 11-HOUSE BILL 22-1083 November 2022 and, in such case, will take effect on the date of the official |
---|
544 | | - | declaration of the vote thereon by the governor. |
---|
545 | | - | ____________________________ ____________________________ |
---|
546 | | - | Alec Garnett Steve Fenberg |
---|
547 | | - | SPEAKER OF THE HOUSE PRESIDENT OF |
---|
548 | | - | OF REPRESENTATIVES THE SENATE |
---|
549 | | - | ____________________________ ____________________________ |
---|
550 | | - | Robin Jones Cindi L. Markwell |
---|
551 | | - | CHIEF CLERK OF THE HOUSE SECRETARY OF |
---|
552 | | - | OF REPRESENTATIVES THE SENATE |
---|
553 | | - | APPROVED________________________________________ |
---|
554 | | - | (Date and Time) |
---|
555 | | - | _________________________________________ |
---|
556 | | - | Jared S. Polis |
---|
557 | | - | GOVERNOR OF THE STATE OF COLORADO |
---|
558 | | - | PAGE 12-HOUSE BILL 22-1083 |
---|
| 471 | + | HIS SUBSECTION (3) IS REPEALED, EFFECTIVE DECEMBER 31,12 |
---|
| 472 | + | 2032.13 |
---|
| 473 | + | SECTION 3. Appropriation. (1) For the 2022-23 state fiscal14 |
---|
| 474 | + | year, $129,613 is appropriated to the department of local affairs. This15 |
---|
| 475 | + | appropriation is from the general fund. To implement this act, the16 |
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| 476 | + | department may use this appropriation as follows:17 |
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| 477 | + | (a) $30,595 for use by executive director's office for payments to18 |
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| 478 | + | OIT; 19 |
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| 479 | + | (b) $83,268 for use by the division of housing for personal20 |
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| 480 | + | services, which amount is based on an assumption that the division will21 |
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| 481 | + | require an additional 1.2 FTE; and22 |
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| 482 | + | (c) $15,750 for use by the division of housing for operating23 |
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| 483 | + | expenses.24 |
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| 484 | + | (2) For the 2022-23 state fiscal year, $30,595 is appropriated to25 |
---|
| 485 | + | the office of the governor for use by the office of information technology.26 |
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| 486 | + | This appropriation is from reappropriated funds received from the27 |
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| 487 | + | 1083 |
---|
| 488 | + | -14- department of local affairs under subsection (1)(a) of this section. To1 |
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| 489 | + | implement this act, the office may use this appropriation to provide2 |
---|
| 490 | + | information technology services for the department of local affairs.3 |
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| 491 | + | SECTION 4. Act subject to petition - effective date. This act4 |
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| 492 | + | takes effect at 12:01 a.m. on the day following the expiration of the5 |
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| 493 | + | ninety-day period after final adjournment of the general assembly; except6 |
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| 494 | + | that, if a referendum petition is filed pursuant to section 1 (3) of article V7 |
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| 495 | + | of the state constitution against this act or an item, section, or part of this8 |
---|
| 496 | + | act within such period, then the act, item, section, or part will not take9 |
---|
| 497 | + | effect unless approved by the people at the general election to be held in10 |
---|
| 498 | + | November 2022 and, in such case, will take effect on the date of the11 |
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| 499 | + | official declaration of the vote thereon by the governor.12 |
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| 500 | + | 1083 |
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| 501 | + | -15- |
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