- District 56
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.)
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|Bill Text Versions||Format|
|Fiscal Note FN1 (02/24/2020)|
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