CO SB029

Establishes a voluntary contribution designation on Colorado state individual income tax return forms allowing taxpayers to contribute to the Habitat for Humanity of Colorado Fund.

Creates the Habitat for Humanity of Colorado Fund in the state treasury to receive designated contributions, with all interest earned credited to the fund.

Requires the Department of Revenue to determine annually the total amount designated and report it to the State Treasurer and General Assembly, who shall transfer funds to Habitat for Humanity of Colorado after deducting administrative costs.

The tax checkoff line shall appear on Colorado income tax forms for five consecutive tax years following the year the Executive Director certifies a line has become available.

Part 45 is repealed effective January 1 of the sixth tax year following availability unless the General Assembly continues or reestablishes the fund by bill prior to that date.