reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 50 - YOUNG AMERICANS CENTER FOR FINANCIAL EDUCATION FUND VOLUNTARY CONTRIBUTION (§§ 39-22-5001 — 39-22-5004) › Section 39-22-5003 - Contributions credited to the Young Americans Center for Financial Education fund - creation - appropriation

(1)
The department of revenue shall determine annually the total amount designated pursuant to section
39-22-5002
and shall report that amount to the state treasurer and to the general assembly. The state treasurer shall credit that amount to the Young Americans Center for Financial Education fund, which fund is hereby created in the state treasury. All interest derived from the deposit and investment of money in the fund shall be credited to the fund.
(2)
The general assembly shall appropriate annually from the Young Americans Center for Financial Education fund to the department of revenue its costs of administering money designated as contributions to the fund. After subtracting the appropriation to the department, the state treasurer shall transfer all money remaining in the fund at the end of the fiscal year to the Young Americans Center for Financial Education, a Colorado nonprofit organization.
Added by 2018 Ch. 210,§ 1, eff. 8/8/2018.
L. 2018: Entire part added, (HB 18-1305), ch. 210, p. 1344, § 1, effective August 8.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 50 - YOUNG AMERICANS CENTER FOR FINANCIAL EDUCATION FUND VOLUNTARY CONTRIBUTION (§§ 39-22-5001 — 39-22-5004) › Section 39-22-5004 - Repeal of part

This part 50 is repealed, effective January 1 of the sixth income tax year following the year in which the executive director files written certification with the revisor of statutes as specified in section
39-22-1001(8)
that a line has become available and the Young Americans Center for Financial Education fund voluntary contribution is next in the queue, unless the Young Americans Center for Financial Education fund established by this part 50 is continued or reestablished by the general assembly acting by bill prior to said date.
Added by 2018 Ch. 210,§ 1, eff. 8/8/2018.
L. 2018: Entire part added, (HB 18-1305), ch. 210, p. 1345, § 1, effective August 8.
Pursuant to section
39-22-1001(8)(b)
, the executive director of the department of revenue certified to the revisor of statutes on November 1, 2018, that the voluntary contribution for the Young Americans Center for Financial Education fund was added to the state income tax return form beginning January 1, 2019.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 51 - DONATE TO A COLORADO NONPROFIT FUND VOLUNTARY CONTRIBUTION (§§ 39-22-5101 — 39-22-5105) › Section 39-22-5101 - Legislative declaration

(1)
The general assembly hereby finds and declares that:
(a)
The program allowing taxpayers to make donations to charitable organizations through their Colorado state individual income tax return forms, commonly known as the "tax check-off program", has been a groundbreaking and profoundly important effort that has touched countless lives in myriad ways;
(b)
Colorado's tax check-off program, which was the first of its kind in the country, was established in 1977 and has resulted in over thirty million dollars contributed to benefit the public through the work of Colorado nonprofit entities, inspiring similar programs in almost every state in the country;
(c)
In fiscal year 2017, Colorado taxpayers received over one billion dollars in income tax refunds. The average refund was approximately five hundred sixty dollars.
(d)
Between January 1, 2017, and November 1, 2017, Coloradans gave over one million seven hundred thousand dollars to support programs through the voluntary contribution options on their individual income tax return forms;
(e)
Increasing the number of charitable organizations that taxpayers may designate on their tax forms can expand charitable giving throughout the state;
(f)
Charitable organizations help contribute to vibrant communities across the state;
(g)
Allowing Colorado taxpayers to designate a registered charitable organization of their choosing through a write-in line on the individual income tax return form will allow charities to raise additional funds earlier in the year, and will increase choices for taxpayers who wish to donate all or part of their tax refunds; and
(h)
A program allowing the designation of a registered charitable organization of a taxpayer's choosing through a write-in line on the individual income tax return form would also be the first of its kind in the country.
(2)
It is the intent of the general assembly to provide Coloradans the opportunity to designate contributions to registered charitable organizations of their choosing by establishing the donate to a Colorado nonprofit fund, allowing taxpayers to make voluntary contributions from their tax refunds on their income tax return forms. The general assembly further intends that this process be efficient and convenient for taxpayers, nonprofits, and the department of revenue and therefore encourages the department and the secretary of state to use digital resources and formats that increase efficiency and reduce the risk of errors in implementing the fund.
Added by 2018 Ch. 290,§ 1, eff. 8/8/2018.
L. 2018: Entire part added, (SB 18-141), ch. 290, p. 1787, § 1, effective August 8.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 51 - DONATE TO A COLORADO NONPROFIT FUND VOLUNTARY CONTRIBUTION (§§ 39-22-5101 — 39-22-5105) › Section 39-22-5102 - Voluntary contribution designation - procedure - effective date

(1)
(a)
The executive director shall ensure that the Colorado state individual income tax return form contains a line for the donate to a Colorado nonprofit fund in the first income tax year:
(I)
In which the department has received, on or before August 15, sufficient funds to implement this part 51 from gifts, grants, and donations, pursuant to section
39-22-5105
;
(II)
That begins on or after January 1, 2019; and
(III)
That begins after the year in which the executive director files written certification with the revisor of statutes as specified in section
39-22-1001(8)
that a line on the income tax return form has become available and the donate to a Colorado nonprofit fund, created in section
39-22-5104
, is next in the queue established pursuant to section
39-22-1001(8)
.
(b)
The executive director shall ensure that the line for the donate to a Colorado nonprofit fund appears on the form in each tax year after the year it is added pursuant to subsection (1)(a) of this section. The line must allow each individual taxpayer to designate the amount of the contribution, if any, and the name and such identifying information as the department of revenue may require of a single charitable organization from the list of eligible charitable organizations provided under section
39-22-5103
to receive the contribution.
(2)
If a line on the individual income tax return form becomes available before the requirements of subsection (1)(a) of this section are met and the donate to a Colorado nonprofit fund is next in the queue established pursuant to section
39-22-1001(8)
, the executive director shall file the written certification as specified in section
39-22-1001(8)
and shall ensure that the line on the form is reserved for the donate to a Colorado nonprofit fund until the requirements of subsection (1)(a) of this section are met. Notwithstanding any other provision of law, the executive director shall not use the line for another fund from the queue.
(3)
The executive director shall notify the secretary of state when he or she files the written certification that a line has become available for the donate to a Colorado nonprofit fund under this section.
Added by 2018 Ch. 290,§ 1, eff. 8/8/2018.
L. 2018: Entire part added, (SB 18-141), ch. 290, p. 1788, § 1, effective August 8.
Pursuant to section
39-22-1001(8)(b)
, the department of revenue advised the revisor of statutes on November 1, 2019, that the voluntary contribution for the donate to a Colorado nonprofit fund was added to the 2019 individual income tax return form.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 51 - DONATE TO A COLORADO NONPROFIT FUND VOLUNTARY CONTRIBUTION (§§ 39-22-5101 — 39-22-5105) › Section 39-22-5103 - List of eligible charitable organizations

(1)
(a)
On or before September 1, 2019, and on or before September 1 of each year thereafter, the secretary of state shall provide to the department of revenue a list of all eligible charitable organizations. To be eligible, a charitable organization must:
(I)
Have been registered with the secretary of state under the "Colorado Charitable Solicitations Act", article
16
of title
6
, for at least five years as of the date the list is generated;
(II)
Be in good standing with the secretary of state under the "Colorado Charitable Solicitations Act", article
16
of title
6
, as of the date the list is generated; and
(III)
Be a nonprofit organization that is exempt from taxation under section 501 (c)(3) of the federal "Internal Revenue Code of 1986", as amended.
(b)
A registered charitable organization may file a written request with the secretary of state, on a form prescribed by the secretary of state, to exclude itself from the list provided to the department of revenue under subsection (1)(a) of this section. The secretary of state shall not include in the list the name or information of any charitable organization that files such a request.
(c)
The secretary of state shall provide the list of eligible charitable organizations to the department of revenue in a digital format.
(2)
The department of revenue shall make the list of eligible charitable organizations available to the public for each income tax year. The department may make the list available in a digital format or a paper format or both. The list must include, for each charitable organization, all identifying information that the department requires for a taxpayer to designate the organization to receive a donation through the donate to a Colorado nonprofit fund voluntary contribution line established in section
39-22-5102
.
(3)
A taxpayer may designate one charity from the list made available by the department of revenue for the tax year for which the taxpayer is filing a return using the donate to a Colorado nonprofit fund voluntary contribution line created in section
39-22-5102
. If a taxpayer designates an organization that is not eligible under this section, or if the department of revenue cannot determine which charitable organization a taxpayer has designated, the contribution is void.
Added by 2018 Ch. 290,§ 1, eff. 8/8/2018.
L. 2018: Entire part added, (SB 18-141), ch. 290, p. 1789, § 1, effective August 8.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 51 - DONATE TO A COLORADO NONPROFIT FUND VOLUNTARY CONTRIBUTION (§§ 39-22-5101 — 39-22-5105) › Section 39-22-5104 - Contributions credited to the donate to a Colorado nonprofit fund - creation - appropriation - distribution

(1)
There is hereby created in the state treasury the donate to a Colorado nonprofit fund, referred to in this section as the "fund". The fund consists of money credited to the fund pursuant to this part 51 and any other money that the general assembly may appropriate or transfer to the fund. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund.
(2)
The department of revenue shall determine annually the total amount designated to the fund and the total amounts designated to each individual eligible charitable organization pursuant to section
39-22-5102
, and shall report those amounts to the state treasurer and to the general assembly. The state treasurer shall credit to the fund the total amount designated to the fund.
(3)
The general assembly shall appropriate annually from the fund to the department of revenue, the secretary of state, and the state treasurer its actual, reasonable costs of implementing this part 51. After the appropriations to the department of revenue, the secretary of state, and the state treasurer are deducted, the state treasurer shall distribute the remaining funds to the eligible charitable organizations as designated by taxpayers after a reduction proportionate to the amount deducted from the fund for the administration of the fund.
(4)
The department is not liable to a taxpayer or to an eligible charitable organization for any error in distributing a contribution under this part 51.
Added by 2018 Ch. 290,§ 1, eff. 8/8/2018.
L. 2018: Entire part added, (SB 18-141), ch. 290, p. 1790, § 1, effective August 8.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 51 - DONATE TO A COLORADO NONPROFIT FUND VOLUNTARY CONTRIBUTION (§§ 39-22-5101 — 39-22-5105) › Section 39-22-5105 - Initial funding

The department of revenue may seek, accept, and expend gifts, grants, or donations from private or public sources for the purposes of implementing the donate to a Colorado nonprofit fund, including but not limited to creating information systems and procedures necessary to collect and distribute designated contributions. The department shall transmit all money received through gifts, grants, or donations to the state treasurer, who shall credit the money to the donate to a Colorado nonprofit fund created in section
39-22-5104(1)
.
Amended by 2021 Ch. 423,§39, eff. 7/2/2021.
Added by 2018 Ch. 290,§1, eff. 8/8/2018.
L. 2018: Entire part added, (SB 18-141), ch. 1791, p. 1791, § 1, effective August 8. L. 2021: Entire section amended, (SB 21-266), ch. 2806, p. 2806, § 39, effective July 2.
Pursuant to section
39-22-1001(8)(b)
, the executive director of the department of revenue certified to the revisor of statutes on November 1, 2018, that the voluntary contribution for the donate to a Colorado nonprofit fund was added to the state income tax return form beginning January 1, 2019.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 52 - COLORADO AFFORDABLE HEALTH CARE COVERAGE EASY ENROLLMENT PROGRAM (§§ 39-22-5201 — 39-22-5202) › Section 39-22-5201 - Definitions

As used in this part 52, unless the context otherwise requires:
(1)
"Advisory committee" means the affordable health care coverage easy enrollment advisory committee created in section
10-22-113
.
(2)
"Department" means the department of revenue.
(3)
"Exchange" means the Colorado health benefit exchange created in article
22
of title
10
.
(4)
"Health-care coverage affordability program" means:
(a)
A medical assistance program under the "Colorado Medical Assistance Act", articles
4
,
5
, and
6
of title
25.5
;
(b)
The "Children's Basic Health Plan Act", article
8
of title
25.5
; or
(c)
A health benefit plan, as defined in section
10-22-103(6)
, offered through the exchange for which premium tax credits or cost-sharing reductions are available.
Added by 2020 Ch. 236,§5, eff. 9/14/2020.
L. 2020: Entire part added, (HB 20-1236), ch. 1148, p. 1148, § 5, effective September 14.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 52 - COLORADO AFFORDABLE HEALTH CARE COVERAGE EASY ENROLLMENT PROGRAM (§§ 39-22-5201 — 39-22-5202) › Section 39-22-5202 - Uninsured designation - required forms - rules

(1)
For income tax years commencing on or after January 1, 2021:
(a)
The Colorado state individual income tax form must allow tax filers to:
(I)
Request that the exchange assess whether uninsured tax household members are potentially eligible for free or lower-cost health coverage under a health-care coverage affordability program using information from their tax return and other sources available to the exchange; and
(II)
Identify uninsured household members and provide other information determined necessary by the advisory committee pursuant to section
10-22-113(3)(a)
to facilitate the Colorado affordable health care coverage easy enrollment program created in section
10-22-113
;
(b)
The associated tax form instruction booklet must explain how to answer the questions added to the state individual income tax form or schedules pursuant to this section and section
10-22-113(3)(a)(IV)
and the effect of asking the exchange to assess whether uninsured household members are potentially eligible for free or lower-cost health coverage under a health-care coverage affordability program.
(2)
In implementing subsection (1) of this section, the department shall consider the determinations and recommendations developed by the advisory committee pursuant to section
10-22-113(3)(a)
.
(3)
The executive director of the department shall promulgate rules as necessary to implement the tax forms and schedules required by this section and to implement the sharing of information authorized by this section with the exchange and the department of health care policy and financing.
Added by 2020 Ch. 236,§5, eff. 9/14/2020.
L. 2020: Entire part added, (HB 20-1236), ch. 1148, p. 1148, § 5, effective September 14.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 53 - FEEDING COLORADO VOLUNTARY CONTRIBUTION (§§ 39-22-5301 — 39-22-5304) › Section 39-22-5301 - Legislative declaration

(1)
The general assembly hereby finds and declares that:
(a)
Feeding Colorado is an association of the five Feeding America food banks serving all Colorado. Member food banks include Care and Share Food Bank for Southern Colorado, Community Food Share, Food Bank for Larimer County, Food Bank for the Rockies, and Weld Food Bank.
(b)
Feeding Colorado distributes meals to children, older adults, and families in need across all counties in Colorado in an effort to catalyze a movement against hunger in Colorado.
(c)
In order to assist Feeding Colorado in fulfilling its mission, the general assembly recognizes that many citizens of Colorado may be willing to provide money to assist in its efforts. It is therefore the intent of the general assembly to provide Coloradans the opportunity to support the efforts of Feeding Colorado by allowing citizens to make a voluntary contribution on their state income tax return form to the Feeding Colorado fund for that purpose.
Added by 2022 Ch. 120,§1, eff. 8/10/2022.
2022 Ch. 120, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 53 - FEEDING COLORADO VOLUNTARY CONTRIBUTION (§§ 39-22-5301 — 39-22-5304) › Section 39-22-5302 - Voluntary contribution designation - procedure - effective date

For the five consecutive income tax years immediately following the year in which the executive director files written certification with the revisor of statutes as specified in section
39-22-1001 (8)
that a line on the income tax return form has become available and that the Feeding Colorado voluntary contribution fund is next in the queue established pursuant to section
39-22-1001 (8)
, the executive director shall ensure that the Colorado state individual income tax return form contains a line whereby each individual taxpayer may designate the amount of the contribution, if any, that the individual wishes to make to the Feeding Colorado fund created in section
39-22-5303
.
Added by 2022 Ch. 120, § 1, eff. 8/10/2022.
2022 Ch. 120, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 53 - FEEDING COLORADO VOLUNTARY CONTRIBUTION (§§ 39-22-5301 — 39-22-5304) › Section 39-22-5303 - Contributions credited to Feeding Colorado fund - creation - appropriation

(1)
The department of revenue shall determine annually the total amount designated pursuant to section
39-22-5302
and shall report that amount to the state treasurer and to the general assembly. The state treasurer shall credit that amount to the Feeding Colorado fund, which fund is hereby created in the state treasury. All interest derived from the deposit and investment of money in the fund shall be credited to the fund.
(2)
The general assembly shall appropriate annually from the Feeding Colorado fund to the department of revenue its costs of administering money designated as contributions to the fund. After subtracting the appropriation to the department, the state treasurer shall transfer all money remaining in the fund at the end of the fiscal year to Feeding Colorado.
Added by 2022 Ch. 120, § 1, eff. 8/10/2022.
2022 Ch. 120, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 53 - FEEDING COLORADO VOLUNTARY CONTRIBUTION (§§ 39-22-5301 — 39-22-5304) › Section 39-22-5304 - Repeal of part

This part 53 is repealed, effective January 1 of the sixth income tax year following the year in which the executive director files written certification with the revisor of statutes as specified in section
39-22-1001(8)
that a line has become available and the Feeding Colorado fund voluntary contribution is next in the queue, unless the Feeding Colorado fund established by this part 53 is continued or reestablished by the general assembly acting by bill before that date.
Added by 2022 Ch. 120,§1, eff. 8/10/2022.
2022 Ch. 120, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 54 - MIDDLE-INCOME HOUSING TAX CREDIT (§§ 39-22-5401 — 39-22-5409) › Section 39-22-5401 - Tax preference performance statement - legislative declaration

(1)
In accordance with section 39-21-304, which requires each bill that creates a new tax expenditure to include a tax preference performance statement as part of a statutory legislative declaration, the general assembly finds and declares that the purposes of the tax credit allowed in this part 54 are to induce certain designated behavior by taxpayers and to provide tax relief for certain businesses or individuals. Specifically, the credit seeks to address the shortage of affordable housing in the state and increase access to affordable housing by encouraging developers to build units specifically for middle-income individuals and families and also to encourage private sector investment in affordable housing.
(2)
The general assembly and the state auditor shall measure the effectiveness of the income tax credit allowed in this part 54 in achieving the purposes specified in subsection (1) of this section based on the information required to be reported to the state auditor by the Colorado housing and finance authority pursuant to section 39-22-5408.
Added by 2024 Ch. 287,§ 1, eff. 5/30/2024.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 54 - MIDDLE-INCOME HOUSING TAX CREDIT (§§ 39-22-5401 — 39-22-5409) › Section 39-22-5404 - Qualified development owned by governmental or quasi-governmental entity

(1)
Notwithstanding any other provision of this part 54:
(a)
The authority may allocate credits to any governmental or quasi-governmental entity, including the middle-income housing authority created in section 29-4-1104, with respect to a qualified development that is owned by such entity.
(b)
(I)
A governmental or quasi-governmental entity may transfer credits allocated to it by the authority to any qualified taxpayer.
(II)
Such a governmental or quasi-governmental entity shall invest in the qualified development any compensation received in connection with a transfer of credits to a qualified taxpayer.
(III)
A qualified taxpayer to which a credit is transferred pursuant to this subsection (1)(b) is entitled to claim the credit in the same manner and subject to the same conditions and allocation rights as an owner of a qualified development to which the authority has allocated a credit.
(c)
(I)
A credit allocated to a governmental or quasi-governmental entity or a transferee thereof is subject to recapture pursuant to section 39-22-5405.
(II)
If a credit transferred to a qualified taxpayer by a governmental or quasi-governmental entity is recaptured pursuant to section 39-22-5405, the governmental or quasi-governmental entity shall notify the department of the identity of the qualified taxpayer to which it transferred a credit.
Added by 2024 Ch. 287,§ 1, eff. 5/30/2024.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 54 - MIDDLE-INCOME HOUSING TAX CREDIT (§§ 39-22-5401 — 39-22-5409) › Section 39-22-5405 - Recapture

(1)
As of the last day of any taxable year during the compliance period, if the amount of the qualified basis of a qualified development with respect to a qualified taxpayer is less than the amount of the qualified basis with respect to a qualified taxpayer as of the last day of the prior taxable year, then the amount of a relevant taxpayer's state income tax liability for that taxable year is increased by the credit recapture amount.
(2)
For purposes of subsection (1) of this section, the credit recapture amount is an amount equal to the aggregate decrease in the credit allowed to a qualified taxpayer pursuant to this part 54 for all prior taxable years that would have resulted if the accelerated portion of the credit allowable by reason of this part 54 were not allowed for all prior taxable years with respect to the reduced amount of qualified basis described in subsection (1) of this section.
(3)
For purposes of subsection (2) of this section, the accelerated portion of the credit for the prior taxable years with respect to any amount of qualified basis is the difference between:
(a)
The aggregate credit allowed pursuant to this part 54, notwithstanding this subsection (3), for the years with respect to such Qualified basis; and
(b)
The aggregate credit that would be allowable pursuant to this part 54 for such years with respect to the qualified basis if the aggregate credit that would have been allowable, but for this subsection (3), for the entire compliance period were allowable ratably over fifteen years.
(4)
If recapture of any credit is required in any tax year, the return submitted for that tax year to the department must include the following information:
(a)
The portion of credit required to be recaptured;
(b)
The identity of each taxpayer subject to the recapture; and
(c)
The amount of credit previously allocated to the taxpayer.
Added by 2024 Ch. 287,§ 1, eff. 5/30/2024.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 54 - MIDDLE-INCOME HOUSING TAX CREDIT (§§ 39-22-5401 — 39-22-5409) › Section 39-22-5406 - Parallel credits - insurance premium taxes

(1)
Any taxpayer who is subject to the tax on insurance premiums established by sections 10-3-209, 10-5-111, and 10-6-128 and who is therefore exempt from the payment of income tax and who is otherwise eligible to claim a credit pursuant to this part 54 may claim the credit and carry the credit forward against the insurance premium tax on its calendar quarter estimated tax payments made in accordance with section 10-3-209 to the same extent as the taxpayer would have been able to claim or carry forward such credit against income tax. All other provisions of this part 54 with respect to the credit, including the amount, allocation, and recapture of the credit and the years for which the credit may be claimed, apply to a credit claimed pursuant to this section.
(2)
For purposes of administering this section, any reference in this part 54 to "income tax year" means calendar year.
Added by 2024 Ch. 287,§ 1, eff. 5/30/2024.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 54 - MIDDLE-INCOME HOUSING TAX CREDIT (§§ 39-22-5401 — 39-22-5409) › Section 39-22-5407 - Rules - compliance monitoring

(1)
The authority and the executive director of the department, in consultation with each other, shall promulgate rules necessary for their respective administration of this part 54. Rules of the authority are adopted pursuant to section 29-4-708.
(2)
The authority, in consultation with the department, shall monitor and oversee compliance with this part 54 and shall report specific occurrences of noncompliance to the department.
Added by 2024 Ch. 287,§ 1, eff. 5/30/2024.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 54 - MIDDLE-INCOME HOUSING TAX CREDIT (§§ 39-22-5401 — 39-22-5409) › Section 39-22-5409

This part 54 is repealed, effective January 1, 2055.
Added by 2024 Ch. 287,§ 1, eff. 5/30/2024.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 55 - COLORADO AFFORDABLE HOUSING IN TRANSIT-ORIENTED COMMUNITIES INCOME TAX CREDIT (§§ 39-22-5501 — 39-22-5508) › Section 39-22-5501 - Tax preference performance statement

(1)
In accordance with section 39-21-304 (1), which requires each bill that creates a new tax expenditure to include a tax preference performance statement as part of a statutory legislative declaration, the general assembly finds and declares that the purpose of the tax credit provided in this section is to induce certain designated behavior by taxpayers by supporting the development of affordable housing within transit-oriented communities.
(2)
The general assembly and the state auditor shall measure the effectiveness of the credit in achieving the purpose specified in subsection (1) of this section based on the number and value of credits issued and housing units built.
Added by 2024 Ch. 291,§ 2, eff. 5/30/2024.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 55 - COLORADO AFFORDABLE HOUSING IN TRANSIT-ORIENTED COMMUNITIES INCOME TAX CREDIT (§§ 39-22-5501 — 39-22-5508) › Section 39-22-5504 - Recapture

(1)
As of the last day of any taxable year during the compliance period, if the amount of the qualified basis of a qualified development with respect to a taxpayer is less than the amount of the qualified basis as of the last day of the prior taxable year, then the amount of the taxpayer's state income tax liability for that taxable year must be increased by the credit recapture amount.
(2)
For purposes of subsection (1) of this section, the credit recapture amount is an amount equal to the aggregate decrease in the credit allowed to the taxpayer pursuant to this part 55 for all prior taxable years that would have resulted if the accelerated portion of the credit allowable by reason of this part 55 were not allowed for all prior taxable years with respect to the reduced amount of qualified basis described in subsection (1) of this section.
(3)
For purposes of subsection (2) of this section, the accelerated portion of the credit for the prior taxable years with respect to any amount of qualified basis is the difference between:
(a)
The aggregate amount of the credit allowed pursuant to this part 55, notwithstanding this subsection (3), for the years with respect to such qualified basis; and
(b)
The aggregate amount of the credit that would be allowed pursuant to this part 55 for such years with respect to the qualified basis if the aggregate credit that would have been allowable, but for this subsection (3), for the entire compliance period were allowable ratably over fifteen years.
(4)
In the event that recapture of any credit is required in any tax year, the return submitted for that tax year to the department shall include the proportion of credit required to be recaptured, the identity of each taxpayer subject to the recapture, and the amount of credit previously allocated to such taxpayer.
(5)
Notwithstanding subsection (1) of this section, credits issued pursuant to this part 55 must not be recaptured if a qualified development, after the initial award of credits, ceases being located in a transit-oriented center within a certified transit-oriented community or in a neighborhood center within a metropolitan planning organization.
Added by 2024 Ch. 291,§ 2, eff. 5/30/2024.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 55 - COLORADO AFFORDABLE HOUSING IN TRANSIT-ORIENTED COMMUNITIES INCOME TAX CREDIT (§§ 39-22-5501 — 39-22-5508) › Section 39-22-5505 - Filing requirements

An owner of a qualified development to which a credit has been allocated and each qualified taxpayer to which such owner has allocated a portion of said credit, if any, shall file with their state income tax return a copy of the allocation certificate issued by the authority with respect to such development and a copy of the owner's certification to the department as to the allocation of the credit among the qualified taxpayers having ownership interests in the development.
Added by 2024 Ch. 291,§ 2, eff. 5/30/2024.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 55 - COLORADO AFFORDABLE HOUSING IN TRANSIT-ORIENTED COMMUNITIES INCOME TAX CREDIT (§§ 39-22-5501 — 39-22-5508) › Section 39-22-5506 - Parallel credits - insurance premium taxes

(1)
Any taxpayer who is subject to the tax on insurance premiums established by sections 10-3-209, 10-5-111, and 10-6-128 and therefore exempt from the payment of income tax and who is otherwise eligible to claim a credit pursuant to this part 55 may claim such credit and carry such credit forward against such insurance premium tax on its calendar quarter estimated tax payments made in accordance with section 10-3-209 to the same extent as the taxpayer would have been able to claim or carry forward such credit or refund against income tax. All other provisions of this part 55 with respect to the credit, including the amount, allocation, and recapture of the credit and the years for which the credit may be claimed, apply to a credit claimed pursuant to this section.
(2)
For purposes of administering this section, any reference in this article 22 to "income tax year" means calendar year.
Added by 2024 Ch. 291,§ 2, eff. 5/30/2024.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 55 - COLORADO AFFORDABLE HOUSING IN TRANSIT-ORIENTED COMMUNITIES INCOME TAX CREDIT (§§ 39-22-5501 — 39-22-5508) › Section 39-22-5507 - Compliance monitoring

The authority, in consultation with the department, shall monitor and oversee compliance with this part 55 and shall report specific occurrences of noncompliance to the department.
Added by 2024 Ch. 291,§ 2, eff. 5/30/2024.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 55 - COLORADO AFFORDABLE HOUSING IN TRANSIT-ORIENTED COMMUNITIES INCOME TAX CREDIT (§§ 39-22-5501 — 39-22-5508) › Section 39-22-5508 - Repeal

This part 55 is repealed, effective December 31, 2049.
Added by 2024 Ch. 291,§ 2, eff. 5/30/2024.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › ESTATE AND INHERITANCE AND SUCCESSION TAX (§§ 39-23-101 — 39-24-114) › Article 23 - [Repealed] (§ 39-23-101) › Section 39-23-101 - to 39-23-170 - [Repealed]

L. 2002: Entire article repealed, p. 1358, § 2, effective July 1.
(1) This article was numbered as article 3 of chapter 138, C.R.S. 1963.
(2) Section 39-23-150 was amended in House Bill 02-1046, effective October 1, 2002. However, those amendments did not take effect due to the repeal of this article by Senate Bill 02-168, effective July 1, 2002.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › ESTATE AND INHERITANCE AND SUCCESSION TAX (§§ 39-23-101 — 39-24-114) › Article 23.5 - Colorado Estate Tax (§§ 39-23.5-101 — 39-23.5-117) › Section 39-23.5-101 - Short title

This article shall be known and may be cited as the "Colorado Estate Tax Law".
L. 79: Entire article added, p. 1431, § 16, effective July 3.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › ESTATE AND INHERITANCE AND SUCCESSION TAX (§§ 39-23-101 — 39-24-114) › Article 23.5 - Colorado Estate Tax (§§ 39-23.5-101 — 39-23.5-117) › Section 39-23.5-103 - Tax on transfer of gross estate of domiciliaries - amount - credit - property of a domiciliary defined

(1)
A tax in the amount of the federal credit is imposed on the transfer of the gross estate of every domiciliary. For Colorado estate tax purposes, no credit for taxes is allowable in determining such federal credit other than the unified credit.
(2)
If any property of a domiciliary is subject to a death tax imposed by another state or states for which a credit is allowable under section 2011 of the internal revenue code, the amount of the tax due under this article shall be reduced by the lesser of:
(a)
The amount of the death tax paid the other state which is allowed as a credit against the federal estate tax; or
(b)
An amount determined by multiplying the federal credit by a fraction, the numerator of which is the value of the domiciliary's gross estate less the value of the property of a domiciliary, as defined in subsection (3) of this section, that is included in the domiciliary's gross estate and the denominator of which is the value of the domiciliary's gross estate.
(3)
Property of a domiciliary includes real property held in trust or otherwise that is not situated in some other state; tangible personal property except that which has an actual situs in some other state; and all intangible personal property, wherever the notes, bonds, stock certificates, or other evidence, if any, thereof may be physically located or wherever the banks or other debtors thereof may be located or domiciled; except that real property in a personal trust shall not be taxed if such real property has an actual situs in some other state.
L. 79: Entire article added, p. 1432, § 16, effective July 3. L. 83: (1) and (2) amended, p. 1533, § 2, effective July 1. L. 92: (1) and (3) amended, p. 2248, § 3, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › ESTATE AND INHERITANCE AND SUCCESSION TAX (§§ 39-23-101 — 39-24-114) › Article 23.5 - Colorado Estate Tax (§§ 39-23.5-101 — 39-23.5-117) › Section 39-23.5-104 - Tax on transfer of gross estate of nondomiciliaries - amount - property of a nondomiciliary defined

(1)
A tax in an amount determined as provided in this section is imposed on the transfer of the gross estate located in Colorado of every nondomiciliary.
(2)
The tax shall be an amount determined by multiplying the federal credit by a fraction, the numerator of which is the value of the property located in Colorado which is included in the gross estate and the denominator of which is the value of the nondomiciliary's gross estate. For Colorado estate tax purposes, no credit for taxes is allowable in determining such federal credit under this subsection (2) other than the unified credit.
(3)
Property located in Colorado of a nondomiciliary includes real property situated in this state held in trust or otherwise and tangible personal property which has an actual situs in this state, but intangibles that have acquired an actual or business situs in this state shall not be taxable.
L. 79: Entire article added, p. 1433, § 16, effective July 3. L. 83: (1) and (2) amended, p. 1534, § 3, effective July 1. L. 92: (2) amended, p. 2248, § 4, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › ESTATE AND INHERITANCE AND SUCCESSION TAX (§§ 39-23-101 — 39-24-114) › Article 23.5 - Colorado Estate Tax (§§ 39-23.5-101 — 39-23.5-117) › Section 39-23.5-105 - Tax upon transfer of gross estate of aliens - amount - property of alien defined

(1)
A tax in an amount determined as provided in this section is imposed on the transfer of the gross estate located in Colorado of every alien.
(2)
The tax shall be an amount determined by multiplying the federal credit by a fraction, the numerator of which is the value of the property located in Colorado which is included in the gross estate and the denominator of which is the value of the alien's gross estate. For Colorado estate tax purposes, no credit for taxes is allowable in determining such federal credit under this subsection (2) other than the unified credit.
(3)
Property located in Colorado of an alien includes real property situated in this state held in trust or otherwise; tangible personal property which has an actual situs in this state; and intangible personal property if the physical evidence of such property is located within this state or if such property is directly or indirectly subject to protection, preservation, or regulation under the laws of this state, to the extent such property is included in the decedent's gross estate.
L. 79: Entire article added, p. 1433, § 16, effective July 3. L. 83: (1) amended, p. 1534, § 4, effective July 1. L. 92: (2) amended, p. 2248, § 5, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › ESTATE AND INHERITANCE AND SUCCESSION TAX (§§ 39-23-101 — 39-24-114) › Article 23.5 - Colorado Estate Tax (§§ 39-23.5-101 — 39-23.5-117) › Section 39-23.5-106 - Tax on generation-skipping transfer - amount - property included in generation-skipping transfer

(1)
A tax in an amount determined as provided in this section is imposed on every generation-skipping transfer.
(2)
The tax shall be an amount determined by multiplying the maximum amount allowable under section 2604 of the internal revenue code by a fraction, the numerator of which is the value of the property located in Colorado included in the generation-skipping transfer and the denominator of which is the value of all property included in the generation-skipping transfer.
(3)
Property located in Colorado includes real property situated in this state held in trust or otherwise; tangible personal property which has an actual situs in this state; and intangible personal property owned by a trust having its principal place of administration in this state at the time of the generation-skipping transfer.
L. 79: Entire article added, p. 1433, § 16, effective July 3. L. 83: (2) amended, p. 1534, § 5, effective July 1. L. 88: (2) amended, p. 1326, § 2, effective April 6.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › ESTATE AND INHERITANCE AND SUCCESSION TAX (§§ 39-23-101 — 39-24-114) › Article 23.5 - Colorado Estate Tax (§§ 39-23.5-101 — 39-23.5-117) › Section 39-23.5-109 - Interest

(1)
Any tax due under this article which is not paid within nine months after the date of the decedent's death or the generation-skipping transfer shall bear interest on the unpaid balance due at the rate prescribed by section
39-21-110.5
from nine months after such death or transfer until such tax is paid. The interest imposed by this section shall apply regardless of any extension of time to pay the tax or of any election to use an installment method of payment of the tax.
(2)
If a special use valuation election was made in a federal return and thereafter additional Colorado estate tax is due as a result of a premature disposition of property or premature cessation of the qualified use, interest shall accrue from the due date of the federal additional estate tax return regardless of any federal extension of time for payment.
(3)
If a qualified family-owned business deduction election was made in a federal return and thereafter additional Colorado estate tax is due as a result of failure to materially participate in the business, disposition of interests, or other noncompliance with the requirements of section 2057 of the internal revenue code, interest shall accrue from the due date of the federal additional estate tax return regardless of any federal extension of time for payment.
(4)
If a qualified conservation easement election was made on a federal return and thereafter additional Colorado estate tax is due as a result of any failure to implement the agreement described in section 2031 of the internal revenue code, interest shall accrue from the due date of the federal additional estate tax return regardless of any federal extension of time for payment.
L. 79: Entire article added, p. 1434, § 16, effective July 3. L. 83: Entire section amended, p. 1535, § 8, effective July 1. L. 92: Entire section amended, p. 2252, § 8, effective July 1. L. 98: (2) amended and (3) and (4) added, p. 315, § 3, effective July 1. L. 99: (3) amended, p. 630, § 45, effective August 4.