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SB17-149

Multiple Methods For Receipt Of Income Tax Refunds

Concerning the option for a taxpayer to specify multiple methods by which to receive an income tax refund.
Session:
2017 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

Currently, a taxpayer may opt to receive his or her income tax refund in the form of a check, or may elect to have his or her income tax refund directly deposited into one of the following: a savings account, a checking account, or a college savings account administered by collegeinvest, a division of the Colorado department of higher education. The bill requires the department of revenue to provide a taxpayer the opportunity to apportion his or her income tax refund among up to 4 such methods; except that collegeinvest savings account refund deposits must be at least $25, and also the department of revenue retains the right to issue refunds in a manner it deems the most administratively efficient.


(Note: This summary applies to this bill as introduced.)

Status

Introduced
Lost

Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Sen. D. Kagan

Sponsor

Sen. K. Priola

Co-sponsor