Archive #42175

Metadata

Bill Number: SB26-118
HTTP Status: 200
Valid JSON: Valid
Archived At: 2026-03-11 10:00:05 MDT
Created At: 2026-03-11 10:00:05 MDT

Parsed JSON

{
  "votes": [],
  "active": "T",
  "origin": "Senate",
  "lls_num": "26-0126",
  "session": "2026A",
  "subject": [
    "Financial Services & Commerce",
    "Probate, Trusts, & Fiduciaries"
  ],
  "bill_num": "SB26-118",
  "sponsors": [
    {
      "id": "CC001",
      "title": "Representative",
      "s_type": "Prime Sponsor",
      "chamber": "House",
      "full_name": "Chad Clifford",
      "last_name": "Clifford",
      "first_name": "Chad",
      "sponsor_order": "3"
    },
    {
      "id": "JC002",
      "title": "Senator",
      "s_type": "Prime Sponsor",
      "chamber": "Senate",
      "full_name": "James Coleman",
      "last_name": "Coleman",
      "first_name": "James",
      "sponsor_order": "1"
    },
    {
      "id": "CS001",
      "title": "Senator",
      "s_type": "Prime Sponsor",
      "chamber": "Senate",
      "full_name": "Cleave Simpson",
      "last_name": "Simpson",
      "first_name": "Cleave",
      "sponsor_order": "2"
    }
  ],
  "bill_files": [
    {
      "url": "https://www.leg.state.co.us/CLICS/CLICS2026A/csl.nsf/0/A15A9FBFFBDC08D387258D04005EE234/$File/118_01.pdf",
      "date": "02/19/2026",
      "label": "Introduced",
      "url_html": "https://www.leg.state.co.us/CLICS/CLICS2026A/csl.nsf/0/A15A9FBFFBDC08D387258D04005EE234/$File/118_01.html",
      "lastModified": "02/19/2026 12:40:27 PM"
    }
  ],
  "committees": [
    {
      "id": "S_FIN_2026A",
      "name": "Finance",
      "chamber": "Senate"
    }
  ],
  "long_title": "Concerning the payment of designated benefits to a charitable organization upon the death of a donor.",
  "bill_status": "Senate Second Reading",
  "short_title": "Legacy Giving to Charitable Organizations",
  "bill_summary": "<html><body><p>The bill 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 not later than 60 calendar days after the charitable organization submits an affidavit attesting to the death of the donor and including certain other information, 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 such actions or satisfy the criteria and comply with the bill not less than 120 days after the charitable organization submits the affidavit to the covered entity.</p><p>If a charitable organization receives designated benefits that concern a creditor claim, statutory allowance, or elective-share or 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.</p><p>A covered entity that holds benefits that are designated to a charitable organization shall not:</p><ul><li>Require the charitable organization to establish an account with the covered entity as a condition of receiving the designated benefits; or<li>Require an individual employed by, or serving on the board of, the charitable organization to submit personal information as a condition of receiving designated benefits.</li></ul><p>The bill may be enforced by the division of banking, the financial services board, or the division of securities, as appropriate.</p><p><i>(Note: This summary applies to this bill as introduced.)</i></p></body></html>",
  "progress_bar": [
    {
      "end": "F",
      "label": "Introduced",
      "position": 1
    },
    {
      "end": "F",
      "label": "Under Consideration",
      "position": 2
    }
  ],
  "special_type": "",
  "bill_category": "Financial Institutions",
  "allow_testimony": "F",
  "amendment_files": [
    {
      "url": "https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2026A/amendments/20BE20940BAAEB4287258DB60060E6BD/SB118_L.001.pdf",
      "date": "03/10/2026 02:42:41 PM",
      "vote": "Passed*",
      "chamber": "Senate",
      "hearing": "SEN Finance",
      "url_html": "https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2026A/amendments/20BE20940BAAEB4287258DB60060E6BD/SB118_L_001.html",
      "amendment": "L.001"
    }
  ],
  "full_bill_topic": "Legacy Giving to Charitable Organizations",
  "long_bill_files": [],
  "GHG_report_files": [],
  "preamended_files": [],
  "bill_sub_category": "Other",
  "fiscal_note_files": [
    {
      "url": "https://www.leg.state.co.us/CLICS/CLICS2026A/csl.nsf/0/A15A9FBFFBDC08D387258D04005EE234/$File/SB118_00.pdf",
      "date": "03/04/2026",
      "label": "FN1",
      "url_html": "",
      "lastModified": "03/04/2026 03:01:39 PM",
      "label_detailed": "Initial Fiscal Note"
    }
  ],
  "is_budget_package": "No",
  "session_laws_files": "",
  "summarized_history": [
    {
      "date": "03/10/2026",
      "action": "Senate Committee on Finance Refer Amended - Consent Calendar to Senate Committee of the Whole",
      "location": "Senate"
    },
    {
      "date": "02/19/2026",
      "action": "Introduced In Senate - Assigned to Finance",
      "location": "Senate"
    }
  ],
  "research_note_files": [],
  "bill_sub_sub_category": "Other",
  "committee_report_files": [
    {
      "url": "https://www.leg.state.co.us/CLICS/CLICS2026A/csl.nsf/0/A15A9FBFFBDC08D387258D04005EE234/$File/SB118_S_FIN_001.pdf",
      "date": "03/10/2026",
      "label": "S_FIN_2026A",
      "url_html": "https://www.leg.state.co.us/CLICS/CLICS2026A/csl.nsf/0/A15A9FBFFBDC08D387258D04005EE234/$File/SB118_S_FIN_001.html",
      "lastModified": "03/11/2026 09:50:31 AM"
    }
  ],
  "demographic_note_files": [],
  "updated_bill_summary_files": [],
  "budget_staff_analysis_files": [],
  "first_chamber_third_reading_date": "",
  "second_chamber_third_reading_date": ""
}

Raw Response

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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 such actions or satisfy the criteria and comply with the bill not less than 120 days after the charitable organization submits the affidavit to the covered entity.</p><p>If a charitable organization receives designated benefits that concern a creditor claim, statutory allowance, or elective-share or 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.</p><p>A covered entity that holds benefits that are designated to a charitable organization shall not:</p><ul><li>Require the charitable organization to establish an account with the covered entity as a condition of receiving the designated benefits; or<li>Require an individual employed by, or serving on the board of, the charitable organization to submit personal information as a condition of receiving designated benefits.</li></ul><p>The bill may be enforced by the division of banking, the financial services board, or the division of securities, as appropriate.</p><p><i>(Note: This summary applies to this bill as introduced.)</i></p></body></html>","amendment_files":[{"chamber":"Senate","date":"03/10/2026 02:42:41 PM","amendment":"L.001","hearing":"SEN Finance","vote":"Passed*","url":"https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2026A/amendments/20BE20940BAAEB4287258DB60060E6BD/SB118_L.001.pdf","url_html":"https://s3-us-west-2.amazonaws.com/leg.colorado.gov/2026A/amendments/20BE20940BAAEB4287258DB60060E6BD/SB118_L_001.html"}],"session_laws_files":"","votes":[]}