WeVote
Log In

Bill

Bill

SB 118

Legacy Giving to Charitable Organizations

2026 Regular Session

Colorado SB 118 creates tax incentives for charitable donations through estate planning to encourage legacy giving to nonprofit organizations.

Governor Signed
#financialservices&commerce #probate #trusts #&fiduciaries
0
WeVote Research Nonpartisan
Bill Summary · SB 118

Legislative bill overview

SB 118 appears to be a Colorado Senate bill addressing tax incentives or legal mechanisms for charitable donations through estate planning and legacy giving. Based on the legislative timeline, the bill has passed multiple Senate readings with amendments, suggesting substantive revisions during the committee process.

Why is this important

Legacy giving provisions affect wealth transfer, charitable funding, and tax policy. Changes to charitable donation incentives can influence philanthropic behavior, nonprofit funding levels, and state tax revenue—making this relevant to donors, nonprofits, and state budgets.

Potential points of contention

  • Tax revenue impact: Expanded charitable deductions or tax credits could reduce state revenue, raising questions about fiscal sustainability
  • Equity concerns: Legacy giving mechanisms may disproportionately benefit wealthy individuals with substantial estates to donate
  • Definition and scope: The amendments suggest debate over which organizations qualify, donation types covered, and eligibility requirements

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.