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Bill Detail: HB19-1075

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Title Tax Credit Employer-assisted Housing Pilot Program
Status House Committee on Finance Refer Amended to Appropriations (02/07/2019)
Bill Subjects
  • Fiscal Policy & Taxes
  • Housing
House Sponsors J. Wilson (R)
Senate Sponsors
House Committee Finance
Senate Committee
Date Introduced 01/11/2019
Description

As a pilot program to promote employer-assisted housing projects
in rural areas, for income tax years commencing on or after January 1,
2019, but prior to January 1, 2023, the bill creates a state income tax
credit for a donation a taxpayer makes to a sponsor that is used solely for
the costs associated with employer-assisted affordable housing in a rural

area. The bill defines sponsor to mean the Colorado housing and
finance authority, a housing authority operated by a county or
municipality, a nonprofit corporation that has been designated as a
community development corporation under the federal tax code, or an
international, nongovernmental, not-for-profit organization whose
mission is concentrated on constructing affordable housing.
The amount of the credit allowed by the bill is 20% of the
approved donation amount; except that the aggregate amount of the credit
awarded to any one taxpayer is limited to $400 in any one income tax
year.
The bill contains additional requirements pertaining to the manner
in which the taxpayer submits information to receive the tax credit. The
bill also requires periodic reporting of information on the use of the tax
credit.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (01/29/2019) (most recent)  
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