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Endowment Or Institutional Fund Gift Tax Credit

Concerning an income tax credit for charitable contributions to an eligible endowment or institutional fund.
2016 Regular Session
Fiscal Policy & Taxes
Bill Summary

Beginning with the 2016 income tax year, the bill allows an individual taxpayer to claim an income tax credit for a contribution of money, securities, or property to an eligible endowment or institutional fund that is equal to 25% of the contribution. An 'eligible endowment or institutional fund' means an endowment fund or an institutional fund that belongs to a Colorado charitable organization and that is managed in accordance with the 'Uniform Prudent Management of Institutional Funds Act'.

A Colorado charitable organization that receives the credit is required to provide a credit certificate to the taxpayer, who must submit the certificate to the department of revenue, along with his or her tax return. The maximum credit an individual may claim for an income tax year is $25,000. Unused credits are not refunded but may be carried forward for up to 5 income tax years. A taxpayer may not claim the credit if he or she claims any other state income tax credit for the same charitable contribution.

(Note: This summary applies to this bill as introduced and does not reflect any amendments that were subsequently adopted.)




Bill Text


Sponsor Type Legislators
Prime Sponsor

Rep. D. Moreno
Sen. C. Holbert



The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details