Second Regular Session
Seventy-fourth General Assembly
STATE OF COLORADO
ENGROSSED
This Version Includes All Amendments Adopted
on Second Reading in the House of Introduction
LLS NO. 24-0543.01 Jason Gelender x4330
SENATE BILL 24-016
Senate Committees House Committees
Finance
Appropriations
A BILL FOR AN ACT
C
ONCERNING QUALIFICATION FOR ST ATE INCOME TAX CREDITS FOR101
CHARITABLE CONTRIBUTIONS TO NONPROFIT ORGANIZATIONS ,102
AND, IN CONNECTION THEREWITH , AUTHORIZING A TAXPAYER103
TO MAKE A CHARITABLE CONTRIBUTION FOR WHICH THE104
TAXPAYER MAY CLAIM A STATE INCOME TAX CREDIT TO A105
CHARITABLE RECIPIENT ORGANIZATION THROUGH A QUALIFIED106
INTERMEDIARY THAT FORWARDS TH E CONTRIBUTION TO THE107
CHARITABLE RECIPIENT ORGANIZATION ,
ALLOWING A TAX108
CREDIT CERTIFICATE FOR THE COLORADO HOM ELESS109
CONTRIBUTION TAX CREDIT TO INCLUDE ONLY THE LAST FOUR110
DIGITS, RATHER THAN ALL DIGITS , OF A TAXPAYER'S SOCIAL111
SECURITY NUMBER, AND MAKING AN APPROPRIATION .112
SENATE
Amended 2nd Reading
March 12, 2024
SENATE SPONSORSHIP
Zenzinger and Smallwood,
HOUSE SPONSORSHIP
Snyder,
Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
Capital letters or bold & italic numbers indicate new material to be added to existing law.
Dashes through the words or numbers indicate deletions from existing law. 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
.)
A qualified intermediary is a charitable organization that collects
charitable contributions from donors and forwards the contributions to
charitable recipient organizations. The bill authorizes 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, rather than making the contribution directly to the charitable
recipient organization, without losing the right to claim the credit.
Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. In Colorado Revised Statutes, 39-22-548, amend2
(3)(c) as follows:3
39-22-548. Colorado homeless contribution tax credit -4
legislative declaration - definitions - repeal. (3) (c) The approved5
nonprofit organization that receives the allowable contribution shall issue6
a tax credit certificate to each taxpayer that makes an allowable7
contribution pursuant to subsections (3)(a) or (3)(b) of this section; except8
that the approved nonprofit organization shall not issue tax credit9
certificates that total more than seven hundred fifty thousand dollars per10
income tax year, and if the approved nonprofit organization administers11
one or more approved projects, in addition to providing a qualifying12
service, then the approved nonprofit organization shall not issue tax credit13
certificates for allowable contributions to one or more approved projects14
that total more than an additional seven hundred fifty thousand dollars per15
income tax year. The tax credit certificate must state the amount of the16
016-2- allowable contribution, the taxpayer's name, the LAST FOUR DIGITS OF THE1
taxpayer's social security number or
THE TAXPAYER'S FULL federal2
employer identification number, the type of the contribution, the date the3
taxpayer made the contribution, the amount of the tax credit that is4
authorized for that taxpayer, and any other information that the executive5
director of the department of revenue may require. Tax credit certificates6
shall be issued in the order of received allowable contributions.7
SECTION 2. In Colorado Revised Statutes, add 39-22-630 as8
follows:9
39-22-630. Charitable contributions made through qualified10
intermediaries - eligibility for income tax credits maintained -11
definitions. (1) F
OR INCOME TAX YEARS COMMENCING ON OR AFTER12
J
ANUARY 1, 2024, A TAXPAYER MAY CLAIM A CREDIT FOR MAKING A13
CONTRIBUTION TO A QUALIFIED INTERMEDIARY TO THE SAME EXTENT14
THAT THE TAXPAYER COULD CLAIM A CREDIT FOR MAKING THE15
CONTRIBUTION DIRECTLY TO A RECIPIENT ORGANIZATION SO LONG AS THE16
RECIPIENT ORGANIZATION IS APPROVED OR CERTIFIED , TO THE EXTENT17
REQUIRED AND IN ACCORDANCE WITH THE PROCESS REQUIRED BY THE LAW18
AUTHORIZING THE CREDIT , AS MEETING THE CRITERIA REQUIRED TO19
RECEIVE SUCH A DIRECT CONTRIBUTION. NOTHING IN THIS SUBSECTION (1)
20
MODIFIES OR ELIMINATES ANY OBLIGATION OF A RECIPIENT21
ORGANIZATION, AS SET FORTH IN A STATE LAW , RULE, OR AGENCY22
GUIDELINE, TO ISSUE TAX CREDIT CERTIFICATES, COLLECT INFORMATION23
FROM DONORS, PROVIDE INFORMATION TO THE DEPARTMENT OF REVENUE24
OR ANY OTHER STATE AGENCY , OR TAKE ANY OTHER ACTION NECESSARY25
FOR THE PROPER ADMINISTRATION OF A CREDIT .26
(2) A
S USED IN THIS SECTION:27
016
-3- (a) "CREDIT" MEANS ANY CREDIT AGAINST THE TAXES IMPOSED1
PURSUANT TO THIS ARTICLE 22 OR ARTICLE 30 OF THIS TITLE THAT IS2
AUTHORIZED BY LAW.3
(b) "Q
UALIFIED INTERMEDIARY" MEANS AN ORGANIZATION THAT4
HAS ATTAINED TAX EXEMPT STATUS UNDER SECTION 501 (c)(3) OF THE5
INTERNAL REVENUE CODE.
IF THE ORGANIZATION IS OBLIGATED, EXCEPT6
WHEN EXERCISING VARIANCE POWER AS REQUIRED OR AUTHORIZED BY7
LAW OR FEDERAL REGULATIONS , TO DISBURSE CONTRIBUTIONS RECEIVED8
FROM A TAXPAYER TO A RECIPIENT ORGANIZATION AS DIRECTED BY THE9
TAXPAYER.10
(c) "R
ECIPIENT ORGANIZATION" MEANS AN ORGANIZATION THAT11
HAS ATTAINED TAX EXEMPT STATUS UNDER SECTION 501 (c)(3) OF THE12
INTERNAL REVENUE CODE.
AND INCLUDES ANY PROGRAM OR PROJECT OF13
THE ORGANIZATION TO WHICH A TAXPAYER MAY MAKE A CONTRIBUTION14
FOR WHICH THE TAXPAYER MAY CLAIM A CREDIT .15
SECTION 3. Appropriation. (1) For the 2024-25 state fiscal16
year, $108,937 is appropriated to the department of revenue for use by the17
taxation business group. This appropriation is from the general fund. To18
implement this act, the division may use this appropriation as follows:19
(a) $93,549 for personal services related to taxation services,20
which amount is based on an assumption that the division will require an21
additional 1.6 FTE; and22
(b) $15,388 for operating expenses related to taxation services.23
(2) For the 2024-25 state fiscal year, $5,000 is appropriated to the24
department of local affairs. This appropriation is from the general fund.25
To implement this act, the department may use this appropriation for26
payments to OIT.27
016
-4- SECTION 4. Act subject to petition - effective date. This act1
takes effect at 12:01 a.m. on the day following the expiration of the2
ninety-day period after final adjournment of the general assembly; except3
that, if a referendum petition is filed pursuant to section 1 (3) of article V4
of the state constitution against this act or an item, section, or part of this5
act within such period, then the act, item, section, or part will not take6
effect unless approved by the people at the general election to be held in7
November 2024 and, in such case, will take effect on the date of the8
official declaration of the vote thereon by the governor.9
016
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