Fabio
9.3 KiB
type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags
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| Bill | Legacy Giving to Charitable Organizations | The act requires a bank, broker-dealer, depository institution, credit union, or financial or institutional investor (covered entity) that holds benefits that are designated by a donor to a charitable organization to pay the designated benefits no later than 60 calendar days after the charitable organization submits an affidavit attesting to the death of the donor and other information to the covered entity, except as described in federal law. If a covered entity that holds designated benefits is unable to pay the designated benefits to a charitable organization because federal law requires the covered entity to take certain actions or satisfy certain criteria in order to pay the designated benefits, the covered entity must take the actions or satisfy the criteria that are required by federal law and comply with the act no less than 120 calendar days after the charitable organization submits the affidavit to the covered entity. If a charitable organization receives designated benefits that concern a creditor claim, statutory allowance, or the unsatisfied balance of an elective-share or a supplemental elective-share claim (outstanding claim) for which the charitable organization may be liable, the charitable organization must return to the donor's estate a portion or all of the designated benefits in order to satisfy the outstanding claim within 60 days after receiving written notice of the liability, with certain exceptions. If the charitable organization fails to comply, it must pay statutory interest to the donor's estate for each day the unreturned amount remains outstanding. Upon receiving notice of the outstanding claim from the personal representative of the donor's estate, the charitable organization must hold all or a portion of the designated benefits in a constructive trust pending a determination of the outstanding claim. Moreover, the charitable organization may be subject to one or more court actions. A covered entity that holds benefits that are designated to a charitable organization shall not:Require the charitable organization to establish an account with the covered entity as a condition of receiving the designated benefits; orRequire an individual employed by, or serving on the board of, the charitable organization to submit personal information as a condition of receiving designated benefits. The act may be enforced by the division of banking, the financial services board, or the division of securities, as appropriate.(Note: This summary applies to this bill as enacted.) | us/states/co | Colorado General Assembly | 2026A | SB 118 | Colorado SB 118 (2026A) |
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7 | 14 | 4 | 2026-02-19 | 2026-04-17 | openstates | ocd-bill/5aa3e882-aa1b-4fe8-8170-847a2b3590c2 | https://leg.colorado.gov/bills/SB26-118 | a5c2b6312a2905eae5d464900aa8199f80ea5edccec6351354be4b2ff754476c | 2026-07-01 | https://data.openstates.org/daily/2026-07-01/public.pgdump | 2026-07-06 | reported |
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Colorado SB 118 (2026A) — Legacy Giving to Charitable Organizations
The act requires a bank, broker-dealer, depository institution, credit union, or financial or institutional investor (covered entity) that holds benefits that are designated by a donor to a charitable organization to pay the designated benefits no later than 60 calendar days after the charitable organization submits an affidavit attesting to the death of the donor and other information to the covered entity, except as described in federal law. If a covered entity that holds designated benefits is unable to pay the designated benefits to a charitable organization because federal law requires the covered entity to take certain actions or satisfy certain criteria in order to pay the designated benefits, the covered entity must take the actions or satisfy the criteria that are required by federal law and comply with the act no less than 120 calendar days after the charitable organization submits the affidavit to the covered entity. If a charitable organization receives designated benefits that concern a creditor claim, statutory allowance, or the unsatisfied balance of an elective-share or a supplemental elective-share claim (outstanding claim) for which the charitable organization may be liable, the charitable organization must return to the donor's estate a portion or all of the designated benefits in order to satisfy the outstanding claim within 60 days after receiving written notice of the liability, with certain exceptions. If the charitable organization fails to comply, it must pay statutory interest to the donor's estate for each day the unreturned amount remains outstanding. Upon receiving notice of the outstanding claim from the personal representative of the donor's estate, the charitable organization must hold all or a portion of the designated benefits in a constructive trust pending a determination of the outstanding claim. Moreover, the charitable organization may be subject to one or more court actions. A covered entity that holds benefits that are designated to a charitable organization shall not:Require the charitable organization to establish an account with the covered entity as a condition of receiving the designated benefits; orRequire an individual employed by, or serving on the board of, the charitable organization to submit personal information as a condition of receiving designated benefits. The act may be enforced by the division of banking, the financial services board, or the division of securities, as appropriate.(Note: This summary applies to this bill as enacted.)
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
- Introduced (filed) — source
- Engrossed (committee substitute) — source
- Final Act (committee substitute) — source
- Reengrossed (committee substitute) — source
- Rerevised (committee substitute) — source
- Revised (committee substitute) — source
- Signed Act (committee substitute) — source
Votes
- Adopt amendment L.001 (Attachment B) — pass (pass) · upper
- Refer Senate Bill 26-118, as amended, to the Committee of the Whole and with a recommendation that it be placed on the consent calendar. — pass (pass) · upper
- Refer Senate Bill 26-118 to the Committee of the Whole. — pass (pass) · upper
- BILL — pass (pass) · lower
Sponsors
- C. Clifford — primary (person)
- C. Simpson — primary (person)
- J. Coleman — primary (person)
- A. Boesenecker — cosponsor (person)
- C. Kipp — cosponsor (person)
- C. Kolker — cosponsor (person)
- I. Jodeh — cosponsor (person)
- J. Bacon — cosponsor (person)
- J. Gonzales — cosponsor (person)
- J. Marchman — cosponsor (person)
- K. Nguyen — cosponsor (person)
- L. Cutter — cosponsor (person)
- L. Daugherty — cosponsor (person)
- L. Frizell — cosponsor (person)
- M. Ball — cosponsor (person)
- M. Froelich — cosponsor (person)
- M. Lindsay — cosponsor (person)
- M. Rutinel — cosponsor (person)
- M. Snyder — cosponsor (person)
- S. Camacho — cosponsor (person)
Timeline
The legislative action history — every referral, reading, and vote.
- 2026-03-16 Senate Third Reading Passed with Amendments - Committee
passage, reading-3 - 2026-04-17 Governor Signed
executive-signature - 2026-04-08 Sent to the Governor
executive-receipt - 2026-04-07 Signed by the Speaker of the House
passage - 2026-04-07 Signed by the President of the Senate
passage - 2026-03-27 House Third Reading Passed - No Amendments
passage, reading-3 - 2026-03-26 House Second Reading Special Order - Passed - No Amendments
- 2026-03-25 House Second Reading Special Order - Laid Over Daily - No Amendments
- 2026-03-23 House Committee on Finance Refer Unamended to House Committee of the Whole
committee-passage, referral-committee - 2026-03-16 Introduced In House - Assigned to Finance
introduction - 2026-03-16 Senate Third Reading Passed - No Amendments
passage, reading-3 - 2026-03-13 Senate Second Reading Passed with Amendments - Committee
reading-2 - 2026-03-10 Senate Committee on Finance Refer Amended - Consent Calendar to Senate Committee of the Whole
committee-passage - 2026-02-19 Introduced In Senate - Assigned to Finance
introduction
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/5aa3e882-aa1b-4fe8-8170-847a2b3590c2. Confidence: reported (aggregated from official Colorado legislature records).