CO SB149

Allows Colorado taxpayers to divide income tax refunds among up to 4 different methods: check, savings account(s), checking account(s), or collegeinvest savings account(s)

Requires each collegeinvest savings account deposit to be at least $25

Applies to tax years beginning January 1, 2017, and requires the Colorado Department of Revenue to modify tax return forms to allow taxpayers to designate their preferred refund methods

Permits the Department of Revenue to issue refunds in the manner it deems most administratively efficient if the refund amount differs from the return or to maintain refund process integrity

Effective 90 days after final adjournment of the general assembly (August 9, 2017), subject to referendum petition provisions