CO HB1091

Allows taxpayers to claim a credit against Colorado state income tax for donations made to employer-assisted housing projects in rural areas for tax years 2018-2021.

Credit equals 20% of the approved donation amount, with a maximum of $400 per taxpayer per income tax year; unused credits may be carried forward up to 5 years.

Eligible donations must be at least $10,000 (except for aggregated donations from multiple employers) and support housing for households earning less than 120% of median area income near their workplace.

Requires sponsors (nonprofits, housing authorities, and the Colorado Housing and Finance Authority) to obtain tax credit awards from state authorities and report annually on economic activity and impact.

Tax credits may be recaptured if sponsors cannot document completion of housing activities within 5 years of the donation date; entire section repeals July 1, 2031.