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Bill Detail: HB20-1189

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Title Tax Credit Donation Human Trafficking Victims
Status House Committee on Finance Postpone Indefinitely (03/02/2020)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors R. Bockenfeld (R)
Senate Sponsors K. Priola (R)
House Committee Finance
Senate Committee
Date Introduced 01/30/2020
Description

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.

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Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (02/24/2020) (most recent)  
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