CO SB206

Creates new statute 39-22-628 allowing Colorado individual income taxpayers to direct deposit state income tax refunds to CollegeInvest savings accounts.

Requires the Department of Revenue to modify state income tax return forms for tax years beginning January 1, 2013 and later to offer the direct deposit option to CollegeInvest accounts.

Limits direct deposits to a single CollegeInvest savings account per taxpayer on each tax return form.

Directs the Department of Revenue to collaborate with the Department of Higher Education to include information on the tax form about CollegeInvest savings accounts and how to establish them.

Declares the act necessary for immediate preservation of public peace, health, and safety.