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. (Note: This summary applies to this bill as introduced.) Read More
No votes to display
Senate Second Reading Passed with Amendments - Committee, Floor
|Bill Text Versions||Format|
|Fiscal Note SA1 (02/25/2020)|
|Fiscal Note FN1 (01/21/2020)|
|Fiscal Note FN2 (01/24/2020)|
Data on Open States is automatically collected nightly from the official website of the Colorado General Assembly.
If you notice any inconsistencies with these official sources, feel free to contact us.