CO HB1195

Creates a state income tax credit for donations of cash or securities to nonprofit organizations developing affordable housing for home ownership, effective for tax years 2019-2029.

Tax credit equals 50% of donation amount, capped at $250,000 per taxpayer annually, with aggregate statewide cap of $1.5 million per year through 2022.

Eligible developers must be nonprofit 501(c)(3) organizations or housing authorities with three-year history of developing homes for households earning up to 120% of area median income.

Unused credits may be carried forward and applied against income taxes in the next five years but cannot be refunded; credits are non-transferable between taxpayers.

Colorado Housing and Finance Authority must certify all donations and may charge administrative fees; credits automatically expire July 1, 2030.