CO HB1335

Creates a new statewide income tax credit for monetary or in-kind contributions to approved homeless service projects, available for tax years 2021-2025, offering a 25% credit on contributions up to $100,000 per taxpayer.

Transfers administration of the homeless housing tax credit from enterprise zone administrators and the office of economic development to the Division of Housing in the Department of Local Affairs.

Caps total tax credit certificates issued at $750,000 per approved project per year and requires the Division to maintain a list of approved projects on its website.

Requires nonprofit organizations and governmental entities to apply to the Division for project approval, which may be granted for up to three years, with the Division conducting annual compliance reviews and performance evaluations.

Repeals the existing enterprise zone homeless housing tax credit effective December 31, 2024, and sunsets the new credit on December 31, 2030.