HB 18-1305 Summary

• Establishes a voluntary contribution designation on Colorado state individual income tax return forms allowing taxpayers to contribute to the Young Americans Center for Financial Education Fund.

• The contribution line must appear on tax forms for five consecutive tax years following certification that a line is available and the fund is next in the queue.

• Creates the Young Americans Center for Financial Education Fund in the state treasury to receive contributions, with the Department of Revenue annually determining total designated amounts and reporting to the State Treasurer and General Assembly.

• The General Assembly appropriates annually from the fund to the Department of Revenue for administration costs, with remaining funds transferred to the Young Americans Center for Financial Education nonprofit organization.

• The entire program automatically repeals effective January 1 of the sixth tax year following the initial certification, unless the General Assembly continues or reestablishes it by bill before that date.