HB 20-1204

  • Colorado House Bill
  • 2020 Regular Session
  • Introduced in House Feb 03, 2020
  • House
  • Senate
  • Governor

Tax Deduction For Donation To Scholarship Organization

Abstract

For income tax years commencing on or after January 1, 2021, the bill allows an individual or corporate taxpayer to subtract from the taxpayer's federal taxable income any amount contributed to an eligible scholarship granting organization, to the extent such amount is not claimed as a deduction on the taxpayer's federal tax return. An eligible scholarship granting organization is defined as a charitable nonprofit organization that provides scholarships to dependent children for tuition expenses for the child's enrollment in a private school so long as the child qualifies for free or reduced-cost lunch. An eligible scholarship organization is required to undergo an annual financial and compliance audit of its accounts and records conducted by an independent certified public accountant and is required to submit the audit to the department of education. The department of education is required to review each audit it receives and submit an annual list to the department of revenue of eligible nonprofit scholarship granting organizations that are in compliance with the requirements specified for the deduction. (Note: This summary applies to this bill as introduced.) Read More

Bill Sponsors (3)

Kim Ransom

  • Republican
  • lower
  • 44
Primary

Jim Smallwood

  • Republican
  • upper
  • 4
Primary

Jack Tate

  • Republican
  • upper
  • 27
Primary

Votes


No votes to display

Actions


Feb 27, 2020

House

House Committee on Finance Postpone Indefinitely

Finance

Feb 03, 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 (02/26/2020) PDF

Sources

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

If you notice any inconsistencies with these official sources, feel free to file an issue.