Program Overview
Created by Colorado House Bill 2022 - 1083 (HB22-1083), the Colorado Homeless Contribution Income Tax Credit provides a tax credit to Colorado taxpayers that contribute to eligible homelessness related projects within Colorado. When taxpayers make a certified contribution, they can claim:
- 25% of their donation (monetary or value of in-kind) as a state income tax credit if contributed to a qualified project located in a non-rural community.
- 30% of their donation (monetary or value of in-kind) as a state income tax credit if contributed to a qualified project located in a rural community.
Eligible Nonprofit Organizations and Projects
Additional General Information on Colorado Homeless Contribution Income Tax Credit
This new tax credit replaces a portion of an existing income tax credit available to taxpayers who make contributions to Enterprise Zone Administrators in Enterprise Zones to promote homelessness related projects to persons experiencing homelessness. This is a new Homeless Contribution Tax Credit that is available in the entire state for a broader range of homelessness response related activities.
The Homeless Contribution Income Tax Credit is administered by the Division of Housing in the Department of Local Affairs. A taxpayer may claim the Homeless Contribution Income Tax Credit when permissible contributions are made to an approved organization that has at least one qualifying activity.
The amount of the Homeless Contribution Income Tax Credit is 25% for each contribution made to nonprofit organizations based in urban areas, and 30% for contributions made in an underserved, rural county.
The Homeless Contribution Income Tax Credit is capped at $750,000 for the value of tax credits that may be issued per income tax year by a nonprofit organization for one approved project that includes either (1) approved, qualifying services, or (2) an approved, qualifying capital campaign. There is an additional $750,000 cap for contributions toward all additional approved, qualifying projects. Individual taxpayers may receive up to $100,000 in credit per year. The Homeless Contribution Income Tax Credit's availability is limited to four years, and any credit in excess of a taxpayer's liability for the income tax year for which the credit is claimed may be carried forward for up to five years.
View the HCTC Annual Review for Tax Year 2023.
More Information
- Information for Participating Organizations
- Information for Organizations Interested in Participating in HCTC
- Information for Taxpayers
Have Questions?
Contact dola_hctc@state.co.us.