Tax Credit Donation Human Trafficking Victims
| Type | Bill |
|---|---|
| Session | 2020 Regular Session |
| Subjects |
Concerning an income tax credit for an amount contributed to a nonprofit organization to assist victims of human trafficking.
Bill Summary:
For 5 income tax years beginning with the current one, the bill creates an income tax credit for a taxpayer who makes a donation to a Colorado-based nonprofit organization whose purpose is to eradicate human trafficking or to a nonprofit organization that provides at least 25% of its services in the state for victims of human trafficking. The amount of the credit is equal to 25% of the taxpayer's monetary donation to the qualifying nonprofit and is in addition to any federal income tax deduction the taxpayer may claim. The maximum credit a taxpayer may claim for an income tax year is $100,000. The credit is not refundable, but a taxpayer may carry forward unused credits for up to 5 years.
(Note: This summary applies to this bill as introduced.)
Committees
Related Documents & Information
| Date | Version | Documents |
|---|---|---|
| 01/30/2020 | Introduced |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.002 | The motion passed without objection. | Vote summary |
| Refer House Bill 20-1189, as amended, to the Committee on Appropriations. | The motion failed on a vote of 4-7. | Vote summary |
| Postpone House Bill 20-1189 indefinitely using a reversal of the previous roll call. There was no objection to the use of the reverse roll call, therefore, the bill was postponed indefinitely. | The motion passed on a vote of 7-4. | Vote summary |
| Activity | Vote | Documents |
|---|
| Date | Amendment Number | Committee/ Floor Hearing | Status | Documents |
|---|---|---|---|---|
| 03/02/2020 | L.002 | HOU Finance | Passed [*] |
| Date | Location | Action |
|---|---|---|
| 03/02/2020 | House | House Committee on Finance Postpone Indefinitely |
| 01/30/2020 | House | Introduced In House - Assigned to Finance + Appropriations |