HB22-1083 Summary

• Creates a Colorado Homeless Contribution Income Tax Credit allowing taxpayers to receive a 25% tax credit (30% in underserved rural counties) for monetary or in-kind contributions to approved nonprofit organizations serving homeless individuals and families through qualifying activities.

• Tax credit is capped at $100,000 per taxpayer per year, with approved nonprofits limited to issuing $750,000 in certificates annually for their direct services and an additional $750,000 for approved projects.

• Qualifying activities include capital campaigns for supportive housing and shelters, and operational services such as outreach, prevention, job placement, case management, and domestic violence services for individuals experiencing or at risk of homelessness.

• Division of Housing must review and approve nonprofit organizations and projects, conduct annual performance evaluations, and report outcomes to the State Housing Board and Department of Revenue; organizations must reapply for approval every four years.

• Tax credit provisions expire December 31, 2040; appropriates $129,613 to the Department of Local Affairs for 2022-23 fiscal year to implement the program.