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Bill Detail: SB20-073

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Title No 529 Account Income Tax Deduction for K-12 Expenses
Status Introduced In House - Assigned to (03/02/2020)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors B. Buentello (D)
L. Cutter (D)
Senate Sponsors B. Pettersen (D)
T. Story (D)
House Committee
Senate Committee Education
Date Introduced 01/10/2020

The federal Tax Cuts and Jobs Act, which became law in

December 2017, added distributions for elementary or secondary school
expenses as qualified distributions from a qualified state tuition program,
also known as a 529 account, thereby allowing, on the federal level,
income tax-free distributions for elementary and secondary school
expenses in addition to already authorized income tax-free distributions
for higher education expenses.
The bill amends Colorado law to ensure that a taxpayer may not
claim a deduction for contributions to qualified state tuition programs for
elementary or secondary school expenses and clarifies that such expenses
are not qualified distributions.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (03/04/2020) (most recent)  
Additional Bill Documents Bill Documents
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  • Past fiscal notes
  • Committee activity and documents
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