CO SB287

Allows individual taxpayers to claim a state income tax credit equal to 25% of contributions made to eligible endowment funds of Colorado charitable organizations for tax years 2019-2021.

Eligible endowment funds must be managed under the Uniform Prudent Management of Institutional Funds Act and exclude donor-advised funds and private foundations.

Maximum credit per taxpayer per year is $25,000, with unused credits carried forward up to 5 succeeding tax years without refund eligibility.

Charitable organizations must issue credit certificates to taxpayers, who must submit them with their tax returns to claim the credit.

Taxpayers cannot claim this credit if claiming any other state income tax credit for the same charitable contribution; the section sunsets on December 31, 2025.