Colorado Homeless Contribution Tax Credit Extension

Second Regular Session
Seventy-fifth General Assembly
STATE OF COLORADO
INTRODUCED

LLS NO. 26-0172.01 Pierce Lively x2059 HOUSE BILL 26-1015
House Committees Senate Committees
Finance
A BILL FOR AN ACT
CONCERNING THE EXTENSION OF THE COLORADO HOMELESS101
CONTRIBUTION TAX CREDIT THROUGH INCOME TAX YEAR 2030.102
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.)
Under current law, the Colorado homeless contribution tax credit
(credit) may only be claimed through state income tax year 2026. The bill
amends the credit to allow taxpayers to claim the credit through state
income tax year 2030.
HOUSE SPONSORSHIP
McCormick and Taggart,
SENATE SPONSORSHIP
Michaelson Jenet and Simpson,
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.
Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. In Colorado Revised Statutes, 39-22-548, amend2
(1)(a), (3)(a), and (9); and add (1)(c) as follows:3
39-22-548. Colorado homeless contribution tax credit -4
legislative declaration - definitions - repeal.5
(1) (a) In accordance with section 39-21-304 (1), which requires6
each bill that creates a new tax expenditure OR EXTENDS AN EXPIRING TAX7
EXPENDITURE to include a tax preference performance statement as part8
of a statutory legislative declaration, the general assembly finds and9
declares that the general legislative purpose of this tax expenditure is to10
induce certain designated behavior by taxpayers. Specifically, this tax11
expenditure is intended to encourage taxpayers to make contributions to12
approved nonprofit organizations providing certain qualifying activities13
to leverage financial contributions from Colorado residents and14
businesses to support providing appropriate housing and services to assist15
individuals and families experiencing homelessness. The tax expenditure16
will catalyze and strengthen statewide efforts to address the effects of17
homelessness through private investment and civic engagement in18
Colorado-based service providers for individuals and families19
experiencing homelessness. 20
(c) I N THE FIRST YEAR THAT THE TAX EXPENDITURE WAS21
AVAILABLE, EIGHT THOUSAND THREE HUNDRED TWENTY DONATIONS WITH22
A VALUE OF TWENTY MILLION FOUR HUNDRED FIFTY-ONE THOUSAND TWO23
HUNDRED FORTY-THREE DOLLARS WERE LEVERAGED. THE TOTAL NUMBER24
AND VALUE OF DONATIONS INCREASED IN THE NEXT INCOME TAX YEAR .25
THEREFORE, THE GENERAL ASSEMBLY FINDS AND DECLARES THAT THIS26
TAX EXPENDITURE HAS SUCCESSFULLY CATALYZED AND STRENGTHENED27
HB26-1015-2-
STATEWIDE EFFORTS TO ADDRESS THE EFFECTS OF HOMELESSNESS1
THROUGH PRIVATE INVESTMENT AND CIVIC ENGAGEMENT IN2
COLORADO-BASED SERVICE PROVIDERS FOR INDIVIDUALS AND FAMILIES3
EXPERIENCING HOMELESSNESS AND THAT THE TAX EXPENDITURE SHOULD4
BE EXTENDED INTO FUTURE INCOME TAX YEARS.5
(3) (a) For income tax years commencing on or after January 1,6
2023, but before January 1, 2027 JANUARY 1, 2031, except as provided7
in subsection (3)(b) of this section, any taxpayer who makes a monetary8
or in-kind contribution to an a pproved nonprofit organization, or to an9
approved project administered by an approved nonprofit organization, is10
allowed a credit equal to twenty-five percent of the total value of the11
contribution, subject to the limitations specified in subsection (3)(d) of12
this section.13
(9) This section is repealed, effective December 31, 204014
DECEMBER 31, 2044.15
SECTION 2. Act subject to petition - effective date. This act16
takes effect at 12:01 a.m. on the day following the expiration of the17
ninety-day period after final adjournment of the general assembly (August18
12, 2026, if adj ournment sine die is on May 13, 2026); except that, if a19
referendum petition is filed pursuant to section 1 (3) of article V of the20
state constitution against this act or an item, section, or part of this act21
within such period, then the act, item, section, or part will not take effect22
unless approved by the people at the general election to be held in23
November 2026 and, in such case, will take effect on the date of the24
official declaration of the vote thereon by the governor.25
HB26-1015-3-