Voluntary contribution designation - procedure - effective date

(1) (a) The executive director shall ensure that the Colorado state individual income tax return form contains a line for the donate to a Colorado nonprofit fund in the first income tax year:

(I) In which the department has received, on or before August 15, sufficient funds to implement this part 51 from gifts, grants, and donations, pursuant to section 39-22-5105;

(II) That begins on or after January 1, 2019; and

(III) That begins after the year in which the executive director files written certification with the revisor of statutes as specified in section 39-22-1001 (8) that a line on the income tax return form has become available and the donate to a Colorado nonprofit fund, created in section 39-22-5104, is next in the queue established pursuant to section 39-22-1001 (8).

(b) The executive director shall ensure that the line for the donate to a Colorado nonprofit fund appears on the form in each tax year after the year it is added pursuant to subsection (1)(a) of this section. The line must allow each individual taxpayer to designate the amount of the contribution, if any, and the name and such identifying information as the department of revenue may require of a single charitable organization from the list of eligible charitable organizations provided under section 39-22-5103 to receive the contribution.

(2) If a line on the individual income tax return form becomes available before the requirements of subsection (1)(a) of this section are met and the donate to a Colorado nonprofit fund is next in the queue established pursuant to section 39-22-1001 (8), the executive director shall file the written certification as specified in section 39-22-1001 (8) and shall ensure that the line on the form is reserved for the donate to a Colorado nonprofit fund until the requirements of subsection (1)(a) of this section are met. Notwithstanding any other provision of law, the executive director shall not use the line for another fund from the queue.

(3) The executive director shall notify the secretary of state when he or she files the written certification that a line has become available for the donate to a Colorado nonprofit fund under this section.