SB 20-073

  • Colorado Senate Bill
  • 2020 Regular Session
  • Introduced in Senate Jan 10, 2020
  • Senate
  • House
  • Governor

No 529 Account Income Tax Deduction for K-12 Expenses

Abstract

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

Bill Sponsors (4)

Brittany Pettersen

  • Democratic
  • upper
  • 22
Primary

Tammy Story

  • Democratic
  • upper
  • 16
Primary

Bri Buentello

  • Democratic
  • lower
  • 47
Primary

Lisa Cutter

  • Democratic
  • lower
  • 25
Primary

Votes


No votes to display

Actions


Feb 27, 2020

Senate

Senate Second Reading Passed with Amendments - Committee, Floor

Feb 25, 2020

Senate

Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole

  • Referral-Committee
  • Committee-Passage
Senate Committee of the Whole Appropriations

Jan 22, 2020

Senate

Senate Committee on Education Refer Amended to Appropriations

  • Referral-Committee
Appropriations Education

Jan 10, 2020

Senate

Introduced In Senate - Assigned to Education

  • Introduction
Education

Bill Text

Bill Text Versions Format
Engrossed (02/27/2020) PDF
Introduced (01/10/2020) PDF
PA2 (02/25/2020) PDF
PA1 (01/23/2020) PDF
Committee Amendment PDF

Related Documents

Document Format
Fiscal Note SA1 (02/25/2020) PDF
Fiscal Note FN1 (01/21/2020) PDF
Fiscal Note FN2 (01/24/2020) PDF

Sources

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