HB 17-1222

House Bill 17-1222, which has been signed into law, creates a Family Caregiver Support Fund. This fund allows Colorado residents to make voluntary donations when they file their state income taxes. The money collected will be used to support caregivers and is managed by Easter Seals Colorado, a nonprofit organization. If the fund doesn’t receive at least $50,000 in contributions annually after an initial two-year grace period, it could be removed from tax forms. Since the bill has been signed, it means that taxpayers can now start contributing to this fund when they file their taxes.

Official Summary

The bill creates the family caregiver support fund (fund) in the state treasury. A voluntary contribution designation line for the fund will appear on the state individual income tax return form (form) for the 5 income tax years following the year that the executive director of the department of revenue (department) certifies to the revisor of statutes that: There is a space available on the form; and The fund is next in the queue. Once the fund is placed on the form, the department is directed to determine annually the total amount contributed to the fund and report that amount to the state treasurer and the general assembly. The state treasurer is required to credit that amount to the fund, and the general assembly appropriates from the fund to the department the costs of administering moneys designated for the fund. After that amount is deducted, the moneys remaining in the fund at the end of a fiscal year are transferred to Easter Seals Colorado, a nonprofit organization. Following the statutory 2-year grace period for new tax check-offs, the fund is required to achieve the minimum contribution amount of $50,000 per year to remain on the form. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Votes