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Committee advances extension of homelessness contribution tax credit unanimously
Summary
Senate Appropriations approved House Bill 1015, which would extend the homelessness contribution tax credit; Jack Murphy of the Colorado Nonprofit Association testified the credit generated more than $20 million annually in recent years and is critical for nonprofit homelessness services.
The Senate Appropriations Committee unanimously passed House Bill 1015 after proponents described the homelessness contribution tax credit as a key tool that mobilizes private donations to support shelters and services.
Jack Murphy, director of government affairs for the Colorado Nonprofit Association, told the committee the credit has incentivized more than $20 million annually in charitable contributions in 2023 and 2024. "This credit drives private investment in homelessness resources and extending it ensures that private dollars continue to support this mission," Murphy said.
Sponsors and other senators praised the bill as a relatively small fiscal tradeoff that supports crucial services when public funding is constrained. Committee members asked about the fiscal note and the degree to which donors rely on the credit; Murphy said many nonprofits depend on the incentive to sustain programs.
The committee voted to place the bill on the consent calendar and advance it out of committee unanimously.
What’s next: HB1015 moves forward on the consent calendar; supporters said they will continue outreach so potential donors understand the credit and can use it to support homelessness services.
