NOTE:  This bill has been prepared for the signatures of the appropriate legislative
officers and the Governor.  To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
      history, or the Session Laws.
      
      
      SENATE BILL 13-206
      
      
      BY SENATOR(S) Hudak and Renfroe, Aguilar, Carroll, Giron, Guzman,
      Heath, Kerr, Newell, Nicholson, Steadman, Todd, Ulibarri;
      also REPRESENTATIVE(S) Pettersen and Priola, Court, Fields, Ginal,
      Hamner, Labuda, Lebsock, Melton, Moreno, Rosenthal, Salazar, Schafer,
      Singer, Williams, Young.
      
      
      Concerning the direct deposit of an individual taxpayer's state
           income tax refund to a collegeinvest savings account
           administered by collegeinvest.
       
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, add 39-22-628 as
      follows:
      
           39-22-628.  Direct deposit of refund to collegeinvest savings
      accounts - modification of individual income tax return forms -
      legislative declaration - definition. (1)  In addition to the rationale
      for creation of the college savings program set forth in section
      23-3.1-301, C.R.S., the general assembly hereby finds, determines,
      and declares that it is in the best interest of Colorado citizens to
      provide them the option of making direct deposits to collegeinvest
      savings accounts through the Colorado state individual income
      tax return form.
      
           (2) (a)  For Colorado state individual income tax return
      forms used for tax years beginning on and after January 1, 2013,
      each such form must allow an individual taxpayer who is owed a
      refund the option of making a direct deposit to a collegeinvest
      savings account.
      
           (b)  Each form must permit the direct deposit to only a single
      collegeinvest savings account.
      
           (3)  The department of revenue shall collaborate with the
      department of higher education to:
      
           (a)  Modify the state individual income tax return form to
      enable an individual taxpayer to make a direct deposit of his or
      her refund to a collegeinvest savings account; and
      
           (b)  Include, in the portion of the form allowing direct
      deposit to a collegeinvest savings account, information or a
      means to obtain information describing collegeinvest savings
      accounts and how to establish such an account.
      
           (4)  As used in this section, "colleginvest savings account"
      means an account established pursuant to part 3 of article 3.1 of
      title 23, C.R.S.
      
           SECTION 2.  Safety clause. The general assembly hereby finds,
      determines, and declares that this act is necessary for the immediate
      preservation of the public peace, health, and safety.
      
      
      
      
      ____________________________  ____________________________
      John P. Morse                         Mark Ferrandino
      PRESIDENT OF                     SPEAKER OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
      
      
      ____________________________  ____________________________
      Cindi L. Markwell                      Marilyn Eddins
      SECRETARY OF                 CHIEF CLERK OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO