HB 20-1189

  • Colorado House Bill
  • 2020 Regular Session
  • Introduced in House Jan 30, 2020
  • House
  • Senate
  • Governor

Tax Credit Donation Human Trafficking Victims

Abstract

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.)

Bill Sponsors (2)

Votes


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Actions


Mar 02, 2020

House

House Committee on Finance Postpone Indefinitely

Finance

Jan 30, 2020

House

Introduced In House - Assigned to Finance + Appropriations

  • Introduction
Appropriations Finance

Bill Text

Bill Text Versions Format
Introduced (01/30/2020) PDF
Committee Amendment PDF

Related Documents

Document Format
Fiscal Note FN1 (02/24/2020) PDF

Sources

Data on Open States is updated nightly from the official website of the Colorado General Assembly.

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