For income tax years commencing on or after January 1, 2019, the Colorado state individual income tax return form must contain a line whereby each individual taxpayer may designate the amount of the contribution, if any, the taxpayer wishes to make to the American Red Cross Colorado disaster response, readiness, and preparedness fund created in section 39-22-4303 (1).
Source: L. 2012: Entire part added, (HB 12-1006), ch. 142, p. 514, § 1, effective August
8. L. 2020: Entire section amended, (SB 20-208), ch. 243, p. 1169, § 8, effective September 14. 39-22-4303. Contributions credited to the American Red Cross Colorado disaster response, readiness, and preparedness fund - creation - appropriation. (1) The department of revenue shall determine annually the total amount designated pursuant to section 39-22-4302 and shall report that amount to the state treasurer and to the general assembly. The state treasurer shall credit that amount to the American Red Cross Colorado disaster response, readiness, and preparedness fund, which fund is hereby created in the state treasury. All interest derived from the deposit and investment of moneys in the fund shall be credited to the fund.
(2) The general assembly shall appropriate annually from the American Red Cross Colorado disaster response, readiness, and preparedness fund to the department of revenue its costs of administering moneys designated as contributions to the fund. All moneys remaining in the fund at the end of the fiscal year, after subtracting the appropriation to the department, shall be transferred to the American Red Cross Colorado Chapters.
Source: L. 2012: Entire part added, (HB 12-1006), ch. 142, p. 515, § 1, effective August 8.