SB18-141 Summary

• Creates the "Donate to a Colorado Nonprofit Fund" allowing taxpayers to designate voluntary contributions to eligible registered charitable organizations through a write-in line on their individual income tax return forms.

• Eligible organizations must be registered with the Secretary of State under the Colorado Charitable Solicitations Act for at least five years, be in good standing, and be exempt from federal taxation under Section 501(c)(3).

• The Department of Revenue determines annually the total amounts designated to the fund and individual organizations, and distributes funds after deducting administrative costs proportionately among designated charities.

• Implementation requires sufficient funding from gifts, grants, or donations by August 15 of the initial tax year, with the program repealing if adequate funding is not received by September 30, 2020.

• Exempts this program and the western slope military veterans' cemetery fund from sunset clause requirements and minimum contribution thresholds that apply to other voluntary contribution programs.