Tax Credits for Contributions via Intermediaries
| Type | Bill |
|---|---|
| Session | 2024 Regular Session |
| Subjects |
Concerning qualification for state income tax credits for charitable contributions to nonprofit organizations, and, in connection therewith, authorizing 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, allowing a tax credit certificate for the Colorado homeless contribution tax credit to include only the last four digits, rather than all digits, of a taxpayer's social security number, and making an appropriation.
Bill Summary:
A qualified intermediary is a charitable organization that collects charitable contributions from donors and forwards the contributions to charitable recipient organizations. The act 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.
For the Colorado homeless contribution tax credit, the act requires a tax credit certificate to include a unique certificate identification number and the last 4 digits, rather than all digits, of the taxpayer's social security number or the taxpayer's full federal employer identification number.
For the 2024-25 state fiscal year, $41,769 is appropriated from the general fund to the department of revenue and $5,000 is appropriated from the general fund to the department of local affairs for implementation of the act.
APPROVED by Governor June 7, 2024
EFFECTIVE August 7, 2024
(Note: This summary applies to this bill as enacted.)
Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.005 | The motion passed without objection. | Vote summary |
| Adopt amendment J.002 | The motion passed without objection. | Vote summary |
| Refer Senate Bill 24-016, as amended, to the Committee of the Whole. | The motion passed on a vote of 9-2. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.002 (Attachment K). | The motion passed without objection. | Vote summary |
| Refer Senate Bill 24-016, as amended, to the Committee on Appropriations. | The motion passed on a vote of 9-2. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment J.001 | The motion passed without objection. | Vote summary |
| Refer Senate Bill 24-016, as amended, to the Committee of the Whole and with a recommendation that it be placed on the consent calendar. | The motion passed on a vote of 9-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.001 | The motion passed without objection. | Vote summary |
| Refer Senate Bill 24-016, as amended, to the Committee on Appropriations. | The motion passed on a vote of 7-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 05/08/2024 | House Amendments | REPASS |
34
AYE
0
NO
1
OTHER
|
Vote record |
| 05/08/2024 | House Amendments | CONCUR |
34
AYE
0
NO
1
OTHER
|
Vote record |
| 03/13/2024 | Third Reading | BILL |
34
AYE
0
NO
1
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 05/07/2024 | Third Reading | BILL |
55
AYE
7
NO
3
OTHER
|
Vote record |
| Date | Amendment Number | Committee/ Floor Hearing | Status | Documents |
|---|---|---|---|---|
| 05/06/2024 | J.002 | HOU Appropriations | Passed [*] | |
| 05/06/2024 | L.005 | HOU Appropriations | Passed [*] | |
| 04/10/2024 | L.002 | HOU Finance | Passed [*] | |
| 03/08/2024 | J.001 | SEN Appropriations | Passed [*] | |
| 01/30/2024 | L.001 | SEN Finance | Passed [*] |
| Date | Location | Action |
|---|---|---|
| 06/07/2024 | Governor | Governor Signed |
| 05/10/2024 | Governor | Sent to the Governor |
| 05/10/2024 | House | Signed by the Speaker of the House |
| 05/09/2024 | Senate | Signed by the President of the Senate |
| 05/08/2024 | Senate | Senate Considered House Amendments - Result was to Concur - Repass |
| 05/07/2024 | House | House Third Reading Passed - No Amendments |
| 05/06/2024 | House | House Second Reading Special Order - Passed with Amendments - Committee |
| 05/06/2024 | House | House Committee on Appropriations Refer Amended to House Committee of the Whole |
| 04/10/2024 | House | House Committee on Finance Refer Amended to Appropriations |
| 03/13/2024 | House | Introduced In House - Assigned to Finance |
| 03/13/2024 | Senate | Senate Third Reading Passed - No Amendments |
| 03/12/2024 | Senate | Senate Second Reading Passed with Amendments - Committee |
| 03/08/2024 | Senate | Senate Committee on Appropriations Refer Amended - Consent Calendar to Senate Committee of the Whole |
| 01/30/2024 | Senate | Senate Committee on Finance Refer Amended to Appropriations |
| 01/10/2024 | Senate | Introduced In Senate - Assigned to Finance |
Prime Sponsor
Sponsor
Co-Sponsor
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 08/07/2024 | 476 | Tax Credits for Contributions via Intermediaries |