Calendar Notification of Your Bill Dossier

Bill HB24-1249 - T. Winter | M. Martinez / R. Pelton | D. Roberts Tax Credit Agricultural Stewardship Practices
   Wednesday, May 8 2024
   THIRD READING OF BILLS - FINAL PASSAGE - CONT'D
   (1) in senate calendar.

Bill HB24-1358 - L. Herod | M. Snyder / K. Mullica | M. Baisley Film Incentive Tax Credit
   Wednesday, May 8 2024
   THIRD READING OF BILLS - FINAL PASSAGE - CONT'D
   (3) in senate calendar.

Bill SB24-016 - R. Zenzinger | J. Smallwood / M. Snyder | R. Taggart Tax Credits for Contributions via Intermediaries
   Wednesday, May 8 2024
   CONSIDERATION OF HOUSE AMENDMENTS TO SENATE BILLS
   (5) in senate calendar.

Bill SB24-111 - C. Kolker | C. Hansen / S. Lieder | M. Young Senior Primary Residence Prop Tax Reduction
   Wednesday, May 8 2024
   THIRD READING OF BILLS - FINAL PASSAGE
   (15) in house calendar.

Bill SB24-126 - P. Will | F. Winter / M. Lukens | M. Lynch Conservation Easement Income Tax Credit
   Wednesday, May 8 2024
   CONSIDERATION OF HOUSE AMENDMENTS TO SENATE BILLS
   (6) in senate calendar.

Bill HB24-1018 - NOT ON CALENDAR

Bill HB24-1036 - NOT ON CALENDAR

Bill HB24-1041 - NOT ON CALENDAR

Bill HB24-1050 - NOT ON CALENDAR

Bill HB24-1052 - NOT ON CALENDAR

Bill HB24-1053 - NOT ON CALENDAR

Bill HB24-1065 - NOT ON CALENDAR

Bill HB24-1243 - NOT ON CALENDAR

Bill HB24-1316 - NOT ON CALENDAR

Bill SB24-002 - NOT ON CALENDAR

Bill SB24-024 - NOT ON CALENDAR

Bill SB24-025 - NOT ON CALENDAR

Bill SB24-033 - NOT ON CALENDAR

Bill SB24-085 - NOT ON CALENDAR

Bill SB24-114 - NOT ON CALENDAR


BILL HB24-1018



The bill creates a state sales and use tax exemption commencing on July 1, 2024, for all sales, storage, use, and consumption of college textbooks. The bill allows a county or municipality to choose to adopt the exemption by express inclusion in its sales and use tax ordinance or resolution.


(Note: This summary applies to this bill as introduced.)



Status
1/10/2024 Introduced In House - Assigned to Finance
2/8/2024 House Committee on Finance Refer Amended to Appropriations
5/14/2024 House Committee on Appropriations Lay Over Unamended - Amendment(s) Failed

Amendment

House Journal, February 8
19 HB24-1018 be amended as follows, and as so amended, be referred to
20 the Committee on Appropriations with favorable
21 recommendation:
22
23 Amend page 3, line 10, strike "JULY 1, 2024, BUT BEFORE JULY 1, 2029,"
24 and substitute "JANUARY 1, 2025, BUT BEFORE JANUARY 1, 2030,".
25
26 Page 3, after line 13 add:
27
28 "(4) THE DEPARTMENT OF REVENUE, IN CONSULTATION WITH THE
29 STATE AUDITOR, SHALL COLLECT THE INFORMATION NECESSARY FOR THE
30 STATE AUDITOR TO MEASURE THE EFFECTIVENESS OF THE EXEMPTION
31 ALLOWED BY THIS SECTION BASED ON THE TOTAL AMOUNT OF MONEY
32 THAT COLLEGE STUDENTS SAVE FROM THE STATE SALES AND USE TAX
33 EXEMPTION ON TEXTBOOKS.".
34
35 Renumber succeeding subsection accordingly.
36
37 Page 5, line 13, strike "July 1, 2024." and substitute "January 1, 2025.".
38
39




BILL HB24-1036


Legislative Oversight Committee Concerning Tax Policy. The bill repeals the following infrequently used tax expenditures:

The bill also modifies several tax expenditures as follows:

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
1/10/2024 Introduced In House - Assigned to Finance
2/12/2024 House Committee on Finance Refer Amended to Appropriations
4/25/2024 House Committee on Appropriations Refer Amended to House Committee of the Whole
4/26/2024 House Second Reading Special Order - Passed with Amendments - Committee
4/29/2024 House Third Reading Passed - No Amendments
4/29/2024 Introduced In Senate - Assigned to Finance
4/30/2024 Senate Committee on Finance Refer Unamended to Appropriations
5/4/2024 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole
5/6/2024 Senate Second Reading Special Order - Passed - No Amendments
5/7/2024 Senate Third Reading Passed with Amendments - Floor
5/8/2024 House Considered Senate Amendments - Result was to Concur - Repass
5/10/2024 Sent to the Governor
5/10/2024 Signed by the President of the Senate
5/10/2024 Signed by the Speaker of the House
6/4/2024 Governor Signed

Amendment

House Journal, February 13
33 HB24-1036 be amended as follows, and as so amended, be referred to
34 the Committee on Appropriations with favorable
35 recommendation:
36
37 Amend printed bill, page 4, strike lines 26 and 27.
38
39 Page 5, strike lines 1 and 2.
40
41 Renumber succeeding subparagraphs accordingly.
42
43 Page 16, line 7, strike "2025," and substitute "2026,".
44
45 Page 16, line 17, strike "2028." and substitute "2029.".
46
47 Page 16, strike line 19 and substitute "(1) and (3); and add (6) as
48 follows:".
49
50 Page 16, line 21, strike "(3) Except" and substitute:
51
52 "(1) The general assembly declares that the intended purpose of
53 the tax refund created in this section is to encourage broadband providers
54 to deploy broadband infrastructure in rural areas of the state AND TO
55 CREATE INCENTIVES FOR INVESTMENT IN BROADBAND INFRASTRUCTURE
1 IN ADDITION TO THE INCENTIVES ALREADY CREATED BY OTHER STATE OR
2 FEDERAL LAW.
3 (3) Except".
4
5 Page 16, line 24, strike "2025," and substitute "2027,".
6
7 Page 17, line 1, strike "2028." and substitute "2030.".
8
9 Page 18, strike lines 20 through 27.
10
11 Page 19, strike lines 1 through 15.
12
13 Renumber succeeding sections accordingly.
14
15

House Journal, April 24
39 HB24-1036 be amended as follows, and as so amended, be referred to
40 the Committee of the Whole with favorable
41 recommendation:
42
43 Amend printed bill, page 10, line 17, strike "2025," and substitute
44 "2026,".
45
46 Page 10, line 26, strike "2025," and substitute "2026,".
47
48 Page 11, line 7, strike "2032." and substitute "2033.".
49
50 Page 27, line 3, strike "OR" and after "(35)," insert "OR ANY CLOSED
51 PANEL SYSTEM UTILIZED IN CONSTRUCTION OF A FACTORY-BUILT
52 RESIDENTIAL STRUCTURE, AS DEFINED IN SECTION 24-32-3302 (10),".
53
54 Page 27, line 25, strike "and" and substitute "and" and strike "homes" and
55 substitute "homes, AND ANY CLOSED PANEL SYSTEM UTILIZED IN
56 CONSTRUCTION OF A FACTORY-BUILT RESIDENTIAL STRUCTURE".

Senate Journal, May 7
HB24-1036 by Representative(s) Weissman and Frizell; also Senator(s) Hansen and Kolker, Liston--
Concerning the adjustment of certain tax expenditures.

A majority of those elected to the Senate having voted in the affirmative, Senator Hansen
was given permission to offer a third reading amendment.

Third Reading Amendment No. 1(L.009) , by Senator Hansen.

Amend reengrossed bill, page 28, after line 27 insert:

"SECTION 41. In Colorado Revised Statutes, 39-22-509, amend
(3)(a) and (6) as follows:
39-22-509. Credit against tax - employer expenditures for
alternative transportation options for employees - legislative declaration
- definitions - repeal. (3) (a) For income tax years beginning on or after
January 1, 2023, but before January 1, 2025 JANUARY 1, 2027, there is allowed
a credit to each employer in an amount equal to fifty percent of the amount
spent by the employer to provide alternative transportation options to its
employees, subject to the limitations that the maximum amount spent in any
income tax year for which an employer may claim a credit is two hundred fifty
thousand dollars and that the maximum amount spent in any income tax year
for any one employee for which an employer may claim a credit is two thousand
dollars.
(6) This section is repealed, effective January 1, 2029 JANUARY 1,
2031.".

Renumber succeeding section accordingly.

The amendment was passed on the following roll call vote:

YES 27 NO 8 EXCUSED 0 ABSENT 0
Baisley N Ginal Y Marchman Y Simpson Y
Bridges Y Gonzales Y Michaelson Y Smallwood Y
Buckner Y Hansen Y Mullica Y Sullivan Y
Coleman Y Hinrichsen Y Pelton B. N Van Winkle N
Cutter Y Jaquez Y Pelton R. N Will Y
Danielson Y Kirkmeyer N Priola Y Winter F. Y
Exum Y Kolker Y Rich N Zenzinger Y
Fields Y Liston Y Roberts Y President Y
Gardner N Lundeen N Rodriguez Y

The question being "Shall the bill, as amended, pass?", the roll call was taken with the
following result:

YES 27 NO 8 EXCUSED 0 ABSENT 0
Baisley N Ginal Y Marchman Y Simpson Y
Bridges Y Gonzales Y Michaelson Y Smallwood N
Buckner Y Hansen Y Mullica Y Sullivan Y
Coleman Y Hinrichsen Y Pelton B. N Van Winkle N
Cutter Y Jaquez Y Pelton R. Y Will Y
Danielson Y Kirkmeyer N Priola Y Winter F. Y
Exum Y Kolker Y Rich N Zenzinger Y
Fields Y Liston Y Roberts Y President Y
Gardner N Lundeen N Rodriguez Y




BILL HB24-1041


Sales and Use Tax Simplification Task Force. Under current law, the executive director of the department of revenue (executive director) is authorized to permit taxpayers whose monthly tax collected is less than $300 to make returns and pay taxes at quarterly intervals. The bill increases that threshold to $600 for returns that must be filed on and or after January 1, 2025, and allows the executive director by rule to increase the threshold amount for returns that must be filed on or after January 1, 2026.

The bill also imposes thresholds that prohibits home rule cities, towns, and city and counties that collect their own sales and use taxes and do not use the electronic sales and use tax simplification system administered by the department of revenue (SUTS) must adhere to in allowing taxpayers to make returns and pay sales and use taxes. On and after January 1, 2025, a taxpayer must be permitted to make returns and pay sales and use taxes as follows:

Additionally, the bill requires all local taxing jurisdictions to begin using SUTS by July 1, 2025. Local taxing jurisdictions that do not begin using SUTS by July 1, 2025, will be precluded from participating in the streamlined process for collecting sales and use tax from retailers that have a state standard retail license and either do not have a physical presence within the local taxing jurisdiction or have only incidental presence. from collecting sales and use tax from a retailer that does not have physical presence in the state unless the retailer elects to collect and remit sales and use tax or enters into a voluntary collection agreement with a home rule city, town, or city and county. $17,200 is appropriated to the department of revenue for the implementation of the bill.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
1/10/2024 Introduced In House - Assigned to Finance
2/1/2024 House Committee on Finance Refer Amended to Appropriations
2/16/2024 House Committee on Appropriations Refer Amended to House Committee of the Whole
2/16/2024 House Second Reading Special Order - Passed with Amendments - Committee
2/20/2024 House Third Reading Passed - No Amendments
2/21/2024 Introduced In Senate - Assigned to Finance
2/29/2024 Senate Committee on Finance Refer Unamended to Appropriations
3/15/2024 Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole
3/15/2024 Senate Second Reading Passed - No Amendments
3/18/2024 Senate Third Reading Passed - No Amendments
3/26/2024 Signed by the Speaker of the House
3/27/2024 Signed by the President of the Senate
3/28/2024 Sent to the Governor
4/4/2024 Governor Signed

Amendment

House Journal, February 1
10 HB24-1041 be amended as follows, and as so amended, be referred to
11 the Committee on Appropriations with favorable
12 recommendation:
13
14 Amend printed bill, page 2, line 12, strike "ON AND AFTER JANUARY 1,
15 2025, A" and substitute "A".
16
17 Page 3, line 1, strike "PERMIT TAXPAYERS TO".
18
19 Page 3, strike lines 2 through 12 and substitute "NOT COLLECT SALES AND
20 USE TAX FROM A RETAILER THAT DOES NOT HAVE PHYSICAL PRESENCE IN
21 THE STATE UNLESS THE RETAILER ELECTS TO COLLECT AND REMIT SALES
22 AND USE TAX OR ENTERS INTO A VOLUNTARY COLLECTION AGREEMENT
23 WITH A HOME RULE CITY, TOWN, OR CITY AND COUNTY.".
24
25 Page 3, line 15, after "vendor." insert "(1)".
26
27 Page 3, line 26, strike "AND".
28
29 Page 3, line 27, strike "AND" and substitute "OR".
30
31 Page 4, line 4, strike "MONTHS." and substitute "MONTHS; AND".
32
33 Page 4, before line 5 insert:
34
35 "(c) FOR RETURNS THAT MUST BE FILED ON OR AFTER JANUARY 1,
36 2026, THE EXECUTIVE DIRECTOR MAY BY RULE INCREASE THE AMOUNT OF
37 MONTHLY TAX COLLECTED SET FORTH IN SUBSECTION (1)(b) OF THIS
38 SECTION.".
39
40 Page 4, strike lines 5 through 27.
41
42 Strike page 5.
43
44 Page 6, strike lines 1 through 20.
45
46 Renumber succeeding section accordingly.
47
48

House Journal, February 16
31 HB24-1041 be amended as follows, and as so amended, be referred to
32 the Committee of the Whole with favorable
33 recommendation:
34
35 Amend printed bill, page 6, before line 21 insert:
36
37 "SECTION 5. Appropriation. (1) For the 2024-25 state fiscal
38 year, $17,200 is appropriated to the department of revenue. This
39 appropriation is from the general fund. To implement this act, the
40 department may use this appropriation as follows:
41 (a) $9,625 for personal services related to administration and
42 support;
43 (b) $4,416 for personal services related to taxation services;
1 (c) $2,000 for operating expenses related to taxation services; and
2 (d) $1,159 for tax administration IT system (GenTax) support.".
3
4 Renumber succeeding section accordingly.
5
6 Page 1, line 102, strike "RETURNS." and substitute "RETURNS, AND, IN
7 CONNECTION THEREWITH, MAKING AN APPROPRIATION.".
8
9




BILL HB24-1050


Sales and Use Tax Simplification Task Force. Section 1 of the bill requires local taxing jurisdictions that impose a local lodging tax or a sales or use tax on building or construction materials that integrate such taxes into building permits (applicable sales or use tax) to file with the executive director of the department of revenue (executive director) a copy of the resolution or ordinance, and any amendments thereto, imposing such taxes and, if not included in the resolution, ordinance, or amendments, certain additional information related to each type of tax. For local lodging taxes, the bill requires local taxing jurisdictions to report the rate and calculation of the tax, the types of lodging the tax applies to, the number of days after which a stay may be exempt from the tax, and the amount of tax that may be retained by the collector of the tax in exchange for timely filing . For the applicable sales or use tax, the bill requires local taxation jurisdictions to report the rate and calculation, what information is included on building permits, the timing for remittance of the tax, and whether the tax is imposed on asphalt equipment, storage of equipment, or services.

By not later than July 1, 2025, and by not later than January 1 and July 1 of each year thereafter, the executive director must publish the information in the local taxing jurisdiction's reports relating to the local lodging tax and applicable sales or use tax.

Sections 2 and 3 and 4 modify the scope of the sales and use tax simplification task force (task force) to include simplification of local lodging tax systems and require that in the 2024 interim, the task force receive testimony and proposals related to the feasibility and implementation of an electronic system for the collection and remittance of local lodging taxes in the same manner or in a manner similar to the electronic sales and use tax simplification system. The task force may propose legislation for the 2025 legislative session to implement or create such an electronic portal. The department of revenue is required to issue a request for information for an electronic system for the collection and remittance of local lodging taxes and present the information received to the task force by not later than September 1, 2024.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
1/10/2024 Introduced In House - Assigned to Finance
2/1/2024 House Committee on Finance Refer Amended to Appropriations
4/23/2024 House Committee on Appropriations Refer Amended to House Committee of the Whole
4/23/2024 House Second Reading Special Order - Passed with Amendments - Committee
4/24/2024 House Third Reading Passed - No Amendments
4/24/2024 Introduced In Senate - Assigned to Finance
4/29/2024 Senate Committee on Finance Refer Unamended to Appropriations
5/1/2024 Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole
5/1/2024 Senate Second Reading Special Order - Passed - No Amendments
5/2/2024 Senate Third Reading Passed - No Amendments
5/21/2024 Sent to the Governor
5/21/2024 Signed by the President of the Senate
5/21/2024 Signed by the Speaker of the House
6/4/2024 Governor Signed

Amendment

House Journal, February 1
9 HB24-1050 be amended as follows, and as so amended, be referred to
10 the Committee on Appropriations with favorable
11 recommendation:
12
13 Amend printed bill, page 4, line 8, strike "(1)(a.5)(III)" and substitute
14 "(1)(a.5)(II)".
15
16 Page 4, strike lines 9 through 11 and substitute:
17
18 "(V) "LOCAL LODGING TAX INFORMATION" MEANS THE FOLLOWING
19 INFORMATION FOR ALL LOCAL LODGING TAX IMPOSED BY THE LOCAL
20 TAXING JURISDICTION:
21 (A) THE TAX RATE;
22 (B) THE TYPES OF LODGING THAT THE LOCAL LODGING TAX
23 APPLIES TO, INCLUDING ANY CONDITIONS GOVERNING THE APPLICATION OF
24 THE LOCAL LODGING TAX BY LODGING TYPE, SUCH AS, MINIMUM NUMBER
25 OF ROOMS IN A PROPERTY OR USE OF ACCOMMODATIONS;
26 (C) THE NUMBER OF DAYS AFTER WHICH A STAY IS EXEMPT, WHICH
27 MAY BE REFERRED TO AS A LENGTH OF STAY EXEMPTION; AND
28 (D) THE AMOUNT OF THE LOCAL LODGING TAX THAT IS PERMITTED
29 TO BE RETAINED BY THE PARTY RESPONSIBLE FOR COLLECTION OF THE
30 LOCAL LODGING TAX IN EXCHANGE FOR TIMELY FILING, WHICH MAY BE
31 REFERRED TO AS A VENDOR FEE, SERVICE FEE, OR TIMELY FILING
32 DISCOUNT.".
33
34 Page 6, strike line 18.
35
36 Renumber succeeding subparagraphs accordingly.
37
38 Page 7, line 2, strike "(1)(a.5)(III)(A)" and substitute "(1)(a.5)(II)(A)".
39
40 Page 8, strike lines 11 through 20.
41
42 Reletter succeeding sub-sub paragraphs accordingly.
43
44 Page 9, strike lines 5 through 15.
45
46 Renumber succeeding section accordingly.
47
48

House Journal, April 23
8 HB24-1050 be amended as follows, and as so amended, be referred to
9 the Committee of the Whole with favorable
10 recommendation:
11
12 Amend printed bill, page 9, before line 16 insert:
13
14 "SECTION 5. Appropriation. (1) For the 2024-25 state fiscal
15 year, $129,665 is appropriated to the department of revenue for use by the
16 taxation business group. This appropriation is from the general fund. To
17 implement this act, the division may use this appropriation as follows:
18 (a) $114,021 for personal services related to taxation services,
19 which amount is based on an assumption that the division will require an
20 additional 1.8 FTE; and
21 (b) $15,644 for operating expenses related to taxation services.".
22
23 Renumber succeeding section accordingly.
24
25 Page 1, line 110, after the comma strike "AND".
26
27 Page 2, line 101, strike "TAXES." and substitute "TAXES, AND MAKING AN
28 APPROPRIATION.".
29
30




BILL HB24-1052


Legislative Oversight Committee Concerning Tax Policy. Section 2 of the bill reinstates a refundable income tax credit (credit) that was available for the income tax year commencing on January 1, 2022, so that the credit is available for the income tax year commencing on January 1, 2024, and is available in a different amount to joint-filers. The credit is for a qualifying senior, which means a resident individual who:

The amount of the credit is:

Notwithstanding the income-based reductions in the allowable credit amount, a taxpayer who also qualifies for a property tax and rent assistance grant or heat assistance grant during calendar year 2024 is eligible to receive the full credit amount.

Section 1 requires the property tax administrator to provide reports from counties related to taxpayers who are eligible for and actually claim the homestead property tax exemption.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
1/10/2024 Introduced In House - Assigned to Finance
2/12/2024 House Committee on Finance Refer Amended to Appropriations
4/25/2024 House Committee on Appropriations Refer Amended to House Committee of the Whole
4/25/2024 House Second Reading Special Order - Passed with Amendments - Committee
4/26/2024 House Third Reading Passed with Amendments - Floor
4/29/2024 Introduced In Senate - Assigned to Finance
4/30/2024 Senate Committee on Finance Refer Unamended to Appropriations
5/4/2024 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole
5/6/2024 Senate Second Reading Special Order - Passed - No Amendments
5/7/2024 Senate Third Reading Passed - No Amendments
5/23/2024 Sent to the Governor
5/23/2024 Signed by the President of the Senate
5/23/2024 Signed by the Speaker of the House
6/6/2024 Governor Signed

Amendment

House Journal, February 13
17 HB24-1052 be amended as follows, and as so amended, be referred to
18 the Committee on Appropriations with favorable
19 recommendation:
20
21 Amend printed bill, page 3, strike line 11 and substitute "(3), (4), and (6);
22 repeal (2)(b) as follows:".
23
24 Page 4, line 10, strike "(4.5)" and substitute "(4)".
25
26 Page 4, line 22, strike "JANUARY 1, 2024." and substitute "JANUARY 1,
27 2024, ON OR BEFORE AUGUST 15, 2024.".
28
29 Page 4, line 23, strike "YEAR" and substitute "YEARS".
30
31 Page 4, line 24, after "2022," insert "AND JANUARY 1, 2024,".
32
33 Page 5, line 2, strike "YEAR" and substitute "YEARS".
34
35 Page 5, line 3, after "2022," insert "AND JANUARY 1, 2024,".
36
37 Page 5, line 10, strike "YEAR" and substitute "YEARS".
38
39 Page 5, line 11, after "2022," insert "AND JANUARY 1, 2024,".
40
41 Page 5, after line 15 insert:
42
43 "(d) IN THE CASE OF A PART-YEAR RESIDENT, THE CREDIT
44 ALLOWED UNDER THIS SECTION IS APPORTIONED IN THE RATIO
45 DETERMINED UNDER SECTION 39-22-110 (1).".
46
47 Page 5, strike lines 16 through 27.
48
49 Page 6, strike lines 1 through 19.
50
51 Page 6, after line 19 add:
52
53 "(6) The department of revenue may use the reports received from
54 the property tax administrator in accordance with section 39-3-207 (7) for
55 purposes of confirming that a taxpayer meets the eligibility requirement
56 set forth in subsection (2)(b)(III) of this section. THE DEPARTMENT OF
1 REVENUE MAY USE THE REPORTS RECEIVED FROM THE PROPERTY TAX
2 ADMINISTRATOR IN ACCORDANCE WITH SECTION 39-3-207 (8) FOR
3 PURPOSES OF CONFIRMING THAT A TAXPAYER MEETS THE ELIGIBILITY
4 REQUIREMENT SET FORTH IN SUBSECTION (3)(b)(II)(C) OF THIS SECTION.".
5
6

House Journal, April 24
26 HB24-1052 be amended as follows, and as so amended, be referred to
27 the Committee of the Whole with favorable
28 recommendation:
29
30 Amend the Finance Committee Report, dated February 12, 2024, page 1,
31 after line 3 insert:
32 "Page 4 of the bill, line 18, strike "FIFTY" and substitute "TWENTY-FIVE".".
33
34 Page 1 of the report, strike lines 6 through 16.
35
36 Page 2 of the report, strike lines 1 and 2 and substitute:
37
38 "Page 5 of the bill, strike lines 18 through 27.
39
40 Page 6 of the bill, strike lines 1 through 13 and substitute:
41 "(a) THE AMOUNT OF THE CREDIT IS EIGHT HUNDRED DOLLARS FOR
42 A QUALIFYING SENIOR FILING A SINGLE RETURN WITH A FEDERAL
43 ADJUSTED GROSS INCOME THAT IS TWENTY-FIVE THOUSAND DOLLARS OR
44 LESS. FOR EVERY FIVE HUNDRED DOLLARS OF ADJUSTED GROSS INCOME
45 ABOVE TWENTY-FIVE THOUSAND DOLLARS, THE AMOUNT OF THE CREDIT
46 IS REDUCED BY EIGHT DOLLARS.
47 (b) THE AMOUNT OF THE CREDIT IS EIGHT HUNDRED DOLLARS FOR
48 TWO TAXPAYERS FILING A JOINT RETURN WITH A FEDERAL ADJUSTED
49 GROSS INCOME THAT IS TWENTY-FIVE THOUSAND DOLLARS OR LESS. FOR
50 EVERY FIVE HUNDRED DOLLARS OF ADJUSTED GROSS INCOME ABOVE
51 TWENTY-FIVE THOUSAND DOLLARS, THE AMOUNT OF THE CREDIT IS
52 REDUCED BY FOUR DOLLARS.
53 (c) IN THE CASE OF TWO TAXPAYERS WHO SHARE THE SAME
54 PRIMARY RESIDENCE AND WHO MAY LEGALLY FILE A JOINT RETURN BUT
55 ACTUALLY FILE SEPARATE RETURNS, BOTH TAXPAYERS MAY CLAIM THE
56 CREDIT, BUT THE MAXIMUM CREDIT FOR EACH TAXPAYER IS FOUR
1 HUNDRED DOLLARS AND, FOR EVERY FIVE HUNDRED DOLLARS OF
2 ADJUSTED GROSS INCOME ABOVE TWENTY-FIVE THOUSAND DOLLARS, THE
3 AMOUNT OF THE CREDIT IS REDUCED BY FOUR DOLLARS.".
4
5 Renumber succeeding paragraph accordingly.
6
7 Page 6 of the bill, after line 19 insert:
8 "(e) IN THE CASE OF A PART-YEAR RESIDENT, THE CREDIT ALLOWED
9 UNDER THIS SUBSECTION (4.5) IS APPORTIONED IN THE RATIO DETERMINED
10 UNDER SECTION 39-22-110 (1).".
11
12 Page 2 of the report, line 3, strike ""(6)" and substitute "(6)".
13
14 Page 2 of the report, after line 10 insert:
15 "Page 6 of the bill, before line 20 insert:
16
17 "SECTION 3. Appropriation. (1) For the 2024-25 state fiscal
18 year, $113,407 is appropriated to the department of revenue. This
19 appropriation is from the general fund. To implement this act, the
20 department may use this appropriation as follows:
21 (a) $20,576 for use by the taxation business group for personal
22 services related to taxation services,
23 (b) $46,350 for tax administration IT system (GenTax) support;
24 (c) $39,725 for use by the executive director's office for personal
25 services related to administration and support; and
26 (d) $6,756 for document management services.
27 (2) For the 2024-25 state fiscal year, $6,756 is appropriated to the
28 department of personnel. This appropriation is from reappropriated funds
29 received from the department of revenue under subsection (1)(d) of this
30 section. To implement this act, the department of personnel may use this
31 appropriation to provide document management services for the
32 department of revenue.".
33
34 Renumber succeeding section accordingly.
35
36 Page 1 of the bill, line 102, strike "HOUSING." and substitute "HOUSING,
37 AND, IN CONNECTION THEREWITH, MAKING AN APPROPRIATION.".".
38
39




BILL HB24-1053


Legislative Oversight Committee Concerning Tax Policy. Section 1 of the bill makes the following changes to the state auditor's procedures for evaluating state tax expenditures:

Section 2 requires the state auditor to annually study and evaluate federal tax law, including changes, that may have significant impact on the state's tax base and prepare a report with the state auditor's findings by June 30, 2025, and by June 30 of each year thereafter. Section 3 requires the legislative oversight committee concerning tax policy (committee) to consider the policy considerations set forth in the state auditor's report concerning a review of federal tax law, including changes, that may have a significant impact on the state's tax base, in addition to the policy considerations set forth in the state auditor's tax expenditure evaluations. The committee may request that the state auditor evaluate specific tax expenditures for the next year's evaluation report notwithstanding when the tax expenditure might otherwise be evaluated according to the state auditor's schedule. The committee may additionally request the state auditor to perform specific and discrete research and analysis tasks. Section 4 requires that the office of the state auditor present to the task force concerning tax policy (task force) its tax expenditure evaluation reports and annual report concerning federal tax law, including changes, that have significant impact on the state's tax base upon request by the task force. Section 5 extends the committee and the task force until December 31, 2031.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
1/10/2024 Introduced In House - Assigned to Finance
2/12/2024 House Committee on Finance Refer Unamended to Appropriations
2/16/2024 House Committee on Appropriations Refer Unamended to House Committee of the Whole
2/16/2024 House Second Reading Special Order - Passed - No Amendments
2/20/2024 House Third Reading Passed - No Amendments
2/21/2024 Introduced In Senate - Assigned to Finance
2/29/2024 Senate Committee on Finance Refer Unamended to Appropriations
4/23/2024 Senate Committee on Appropriations Refer Unamended to Legislative Council
4/26/2024 Senate Committee on Legislative Council Refer Unamended to Senate Committee of the Whole
4/30/2024 Senate Second Reading Special Order - Passed - No Amendments
5/1/2024 Senate Third Reading Passed - No Amendments
5/21/2024 Sent to the Governor
5/21/2024 Signed by the President of the Senate
5/21/2024 Signed by the Speaker of the House
6/4/2024 Governor Signed


BILL HB24-1065


For income tax years commencing on and after January 1, 2025, the bill reduces both the individual and the corporate state income tax rates from 4.40% to 4.0%. The bill also exempts the rate reductions from the existing statutory requirements that tax expenditure legislation include a tax preference performance statement in a statutory legislative declaration and repeal after a specified period of tax years.


(Note: This summary applies to this bill as introduced.)



Status
1/10/2024 Introduced In House - Assigned to Finance
2/12/2024 House Committee on Finance Postpone Indefinitely


BILL HB24-1243


Currently, an individual aged 17 years or younger (minor) is liable to the state for income tax on earned income. The bill allows a subtraction from federal taxable income of an amount equal to the earned income of a minor. An employer is not required to deduct income tax from the wages of a minor.


(Note: This summary applies to this bill as introduced.)



Status
2/12/2024 Introduced In House - Assigned to Finance
3/18/2024 House Committee on Finance Witness Testimony and/or Committee Discussion Only
4/1/2024 House Committee on Finance Refer Amended to Appropriations
5/14/2024 House Committee on Appropriations Lay Over Unamended - Amendment(s) Failed

Amendment

House Journal, April 2
34 HB24-1243 be amended as follows, and as so amended, be referred to
35 the Committee on Appropriations with favorable
36 recommendation:
37
38 Amend printed bill, page 2, line 7, after "(cc)" insert "(I)".
39
40 Page 2, after line 10, insert:
41
42 "(II) THIS SUBSECTION (4)(cc) IS REPEALED, EFFECTIVE JANUARY
43 1, 2030.".
1 Page 2, line 19, strike "OR (4)(cc)" and insert "OR, FOR INCOME TAX YEARS
2 COMMENCING ON OR AFTER JANUARY 1, 2025, AND ENDING BEFORE
3 JANUARY 1, 2030, SUBSECTION (4)(cc).".
4
5




BILL HB24-1249


The bill establishes a state income tax credit for active qualified stewardship practices on a farm or ranch beginning January 1, 2026. There are 3 tiers of tax credits that may be earned by a qualified taxpayer. For actively practicing one qualified stewardship practice, a A qualified taxpayer may earn a state income tax credit equal to at least $5 and no more than $75 per acre of land covered by the one qualified stewardship practice, up to a maximum credit of $150,000 in one income tax year. For actively practicing 2 qualified stewardship practices, a A qualified taxpayer may earn a state income tax credit equal to at least $10 and no more than $100 per acre of land covered by the 2 qualified stewardship practices, up to a maximum credit of $200,000 in one income tax year. For actively practicing 3 or more qualified stewardship practices, a A qualified taxpayer may earn a state income tax credit up to equal to at least $15 and no more than $150 per acre of land covered by the at least 3 qualified stewardship practices, up to a maximum of $300,000 per income tax year. The tax credit is refundable and may not be carried forward. The department of agriculture may issue rules to implement the tax credit, including specifying requirements for implementing and demonstrating qualified stewardship practices. Before issuing any rules, the commissioner of the department of agriculture shall initiate a public stakeholder process to advise the commissioner about the requirements for implementing and demonstrating qualified stewardship practices.

To claim the credit, a qualified taxpayer must apply to the department of agriculture for a tax credit certificate. The department of agriculture will evaluate the application and issue the certificate if the taxpayer qualifies for the tax credit. If a tax credit certificate is issued, the qualified taxpayer must attach it to the taxpayer's income tax return and submit it to the department of revenue.

The aggregate amount of tax credits issued in one calendar year cannot exceed $10 $3 million. After certificates have been issued for credits that exceed an aggregate of $10 $3 million for all qualified taxpayers during a calendar year, any claims that exceed the amount allowed are placed on a wait list in the order submitted and a certificate is issued for use of the credit in the next income tax year. No more than $5 $2 million in claims shall be placed on the wait list in any given calendar year.

Only one tax credit certificate may be issued per qualified taxpayer in a calendar year, and the qualified taxpayer claiming the credit may only receive the tax credit for up to 3 income tax years. No credit may be earned if the qualified taxpayer has received another tax credit, a tax deduction, or a grant related to agricultural land health from any source during the income tax year for which the tax credit is sought.

The bill appropriates $17,117 to the department of agriculture from the general fund for the 2024-25 state fiscal year for use by the agricultural services division (division). To implement the bill, the division may use the appropriation for the conservation services division.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
2/12/2024 Introduced In House - Assigned to Agriculture, Water & Natural Resources
3/11/2024 House Committee on Agriculture, Water & Natural Resources Refer Amended to Finance
3/25/2024 House Committee on Finance Refer Unamended to Appropriations
4/25/2024 House Committee on Appropriations Refer Amended to House Committee of the Whole
4/26/2024 House Second Reading Special Order - Passed with Amendments - Committee, Floor
4/29/2024 House Third Reading Passed - No Amendments
4/29/2024 Introduced In Senate - Assigned to Finance
5/2/2024 Senate Committee on Finance Refer Unamended to Appropriations
5/4/2024 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole
5/6/2024 Senate Second Reading Special Order - Laid Over to 05/07/2024 - No Amendments
5/7/2024 Senate Second Reading Special Order - Passed - No Amendments
5/8/2024 Senate Third Reading Passed - No Amendments
5/9/2024 Sent to the Governor
5/9/2024 Signed by the President of the Senate
5/9/2024 Signed by the Speaker of the House
5/24/2024 Governor Signed

Amendment

House Journal, March 12
7 HB24-1249 be amended as follows, and as so amended, be referred to
8 the Committee on Finance with favorable
9 recommendation:
10
11 Amend printed bill, page 3, strike lines 21 through 27 and substitute:
12
13 "(b) "QUALIFIED STEWARDSHIP PRACTICE" MEANS ANY
14 AGRICULTURAL PRACTICE, AS SPECIFIED BY RULES ISSUED BY THE
15 COMMISSIONER OF THE DEPARTMENT OF AGRICULTURE, THAT MAY
16 INCLUDE A GRAZING OR CROPPING PRACTICE THAT IMPROVES SOIL HEALTH,
17 IMPROVES WATER RETENTION AND DROUGHT RESILIENCE, OR CREATES
18 MORE DIVERSE AND BENEFICIAL ECOSYSTEMS WHILE MAINTAINING THE
19 PRODUCTIVITY OF THE FARM OR RANCH, INCLUDING ROTATIONAL CROPS,
20 REDUCED TILLAGE, NO TILLAGE, COVER CROPPING, INTEGRATING
21 MANAGED LIVESTOCK GRAZING ON CROPLAND, RANGE IMPROVEMENTS,
22 INTERSEEDING, OR COMPOST APPLICATION.".
23
24 Page 4, strike lines 12 through 27 and substitute:
25
26 "(I) A MINIMUM OF FIVE DOLLARS AND A MAXIMUM OF
27 SEVENTY-FIVE DOLLARS PER ACRE OF LAND SUBJECT TO ONE QUALIFIED
28 STEWARDSHIP PRACTICE, AS SPECIFIED BY RULE ISSUED BY THE
29 COMMISSIONER OF THE DEPARTMENT OF AGRICULTURE, LIMITED TO A
30 MAXIMUM CREDIT AMOUNT OF ONE HUNDRED FIFTY THOUSAND DOLLARS
31 PER INCOME TAX YEAR;
32 (II) A MINIMUM OF TEN DOLLARS AND A MAXIMUM OF ONE
33 HUNDRED DOLLARS PER ACRE OF LAND SUBJECT TO TWO QUALIFIED
34 STEWARDSHIP PRACTICES, AS SPECIFIED BY RULE ISSUED BY THE
35 COMMISSIONER OF THE DEPARTMENT OF AGRICULTURE, LIMITED TO A
36 MAXIMUM CREDIT AMOUNT OF TWO HUNDRED THOUSAND DOLLARS PER
37 INCOME TAX YEAR; AND
38 (III) A MINIMUM OF FIFTEEN DOLLARS AND A MAXIMUM OF ONE
39 HUNDRED FIFTY DOLLARS PER ACRE OF LAND SUBJECT TO THREE OR MORE
40 QUALIFIED STEWARDSHIP PRACTICES, AS SPECIFIED BY RULE ISSUED BY THE
41 COMMISSIONER OF THE DEPARTMENT OF AGRICULTURE, LIMITED TO A
42 MAXIMUM CREDIT AMOUNT OF THREE HUNDRED THOUSAND DOLLARS PER
43 INCOME TAX YEAR.".
44
45 Page 5, strike line 1 and substitute:
46
47 "(b) THE DEPARTMENT OF AGRICULTURE MAY ONLY ISSUE TAX
48 CREDIT CERTIFICATES TO A QUALIFIED TAXPAYER:".
49
50 Page 7, after line 17 insert:
51
52 "(8) THE COMMISSIONER OF THE DEPARTMENT OF AGRICULTURE
53 MAY ISSUE RULES TO ADMINISTER THIS SECTION, INCLUDING SPECIFYING
1 REQUIREMENTS FOR IMPLEMENTING AND DEMONSTRATING QUALIFIED
2 STEWARDSHIP PRACTICES, AND MAY ISSUE TAX CREDIT CERTIFICATES
3 PURSUANT TO THIS SECTION.".
4
5 Renumber succeeding subsection accordingly.
6
7

House Journal, April 24
21 HB24-1249 be amended as follows, and as so amended, be referred to
22 the Committee of the Whole with favorable
23 recommendation:
24
25 Amend printed bill, page 7, line 7, strike "FIVE" and substitute "TWO".
26
27 Strike "TEN" and substitute "THREE" on: Page 6, lines 23 and 25.
28
29 Page 7, after line 18 insert:
30
31 "SECTION 2. Appropriation. For the 2024-25 state fiscal year,
32 $17,117 is appropriated to the department of agriculture for use by the
33 agricultural services division. This appropriation is from the general fund
34 and is based on an assumption that the division will require an additional
35 0.1 FTE. To implement this act, the division may use this appropriation
36 for the conservation services division.".
37
38 Renumber succeeding section accordingly.
39
40 Page 1, line 102, strike "PRACTICES." and substitute "PRACTICES, AND,
41 IN CONNECTION THEREWITH, MAKING AN APPROPRIATION.".
42
43

House Journal, April 26
33 Amendment No. 1, Appropriations Report, dated April 25, 2024, and
34 placed in member's bill file; Report also printed in House Journal,
35 April 25, 2024.
36
37 Amendment No. 2, Agriculture, Water & Natural Resources Report, dated
38 March 11, 2024, and placed in member's bill file; Report also printed in
39 House Journal, March 12, 2024.
40
41 Amendment No. 3, by Assistant Minority Leader Winter:
42
43 Amend the Agriculture, Water and Natural Resources Committee Report,
44 dated March 11, 2024, page 2, line 14, strike "SECTION."." and substitute
45 "SECTION. BEFORE PROMULGATING ANY RULES, THE COMMISSIONER SHALL
46 INITIATE A PUBLIC STAKEHOLDER PROCESS TO ADVISE THE COMMISSIONER
47 ABOUT THE REQUIREMENTS FOR IMPLEMENTING AND DEMONSTRATING
48 QUALIFIED STEWARDSHIP PRACTICES.".".
49
50 As amended, ordered engrossed and placed on the Calendar for Third
51 Reading and Final Passage.
52




BILL HB24-1316


The bill creates a pilot program for an income tax credit for owners of qualified housing developments focused on rental housing for middle-income individuals and families. Middle-income individuals and families are those individuals and families with an annual household income between 80% and 120% of the area median income of the households of the same size in the county in which the housing development is located; except that, for rural resort counties, the annual income is between 80% and 140% of the area median income of the households of the same size in the county in which the housing development is located.

During the calendar years commencing on January 1, 2025, and ending on December 31, 2027, the owner of a qualified housing development may be allocated a credit by the Colorado housing and finance authority (CHFA). The amount of the credit is determined by CHFA. The allocation of credits must follow CHFA's published allocation plan, and the aggregate amount of credits allocated in one calendar year cannot exceed $10 million. The aggregate amount of any unallocated credits remaining as of December 31, 2027, is added to the amount of credits that CHFA may allocate for the state affordable housing tax credit. The allocated credit amount may be used to offset a qualified taxpayer's income taxes each year for a period of 5 years, beginning in the year that the qualified housing development is placed in service. Although the credit may only be claimed for a 5-year period, the owner is required to provide middle-income housing in the qualified housing development for 15 years. A portion of the credit may be recaptured under certain conditions, for instance when the owner reduces the number of units serving middle-income individuals and families. In addition, the credit is allowed against insurance premium taxes for eligible taxpayers that are not subject to income taxes. A governmental or quasi-governmental entity, including the middle-income housing authority, may be allocated a credit if it owns a qualified development. A credit allocated to a governmental or quasi-governmental entity is subject to the same conditions, allocation rights, and recapture as a credit allocated to a qualified owner; except that a governmental or quasi-governmental entity may also transfer credits to any qualified taxpayer.

The bill also requires CHFA to annually report on the middle-income housing tax credit pilot program to the general assembly, and to make the report publicly available, and, as part of CFHA's final annual report, to provide certain information summarizing the overall success of the pilot program .

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
2/20/2024 Introduced In House - Assigned to Finance
3/11/2024 House Committee on Finance Refer Amended to Appropriations
4/30/2024 House Committee on Appropriations Refer Unamended to House Committee of the Whole
4/30/2024 House Second Reading Special Order - Passed with Amendments - Committee, Floor
5/1/2024 House Third Reading Passed - No Amendments
5/1/2024 Introduced In Senate - Assigned to Finance
5/3/2024 Senate Committee on Finance Refer Unamended to Appropriations
5/4/2024 Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole
5/6/2024 Senate Second Reading Special Order - Passed - No Amendments
5/7/2024 Senate Third Reading Passed - No Amendments
5/8/2024 House Considered Senate Amendments - Result was to Concur - Repass
5/23/2024 Sent to the Governor
5/23/2024 Signed by the President of the Senate
5/23/2024 Signed by the Speaker of the House
5/30/2024 Governor Signed

Amendment

House Journal, March 12
33 HB24-1316 be amended as follows, and as so amended, be referred to
34 the Committee on Appropriations with favorable
35 recommendation:
36
37 Amend printed bill, page 7, line 24, strike "MAY" and substitute "SHALL".
38
39 Page 12, after line 17 insert:
40
41 "(1.5) IN ADDITION TO THE INFORMATION REQUIRED PURSUANT TO
42 SUBSECTION (1) OF THIS SECTION, BY DECEMBER 31 OF THE LAST
43 CALENDAR YEAR DURING WHICH CREDITS WERE ALLOCATED BY THE
44 AUTHORITY PURSUANT TO THIS PART 54, THE AUTHORITY SHALL INCLUDE
45 IN ITS ANNUAL REPORT THE FOLLOWING INFORMATION SUMMARIZING THE
46 MIDDLE-INCOME HOUSING TAX CREDIT PILOT PROGRAM CREATED IN THIS
47 PART 54:
48 (a) AN OVERVIEW OF THE DEMAND FOR AND UTILIZATION OF THE
49 MIDDLE-INCOME HOUSING TAX CREDIT PROGRAM CREATED IN THIS PART
50 54;
51 (b) A SUMMARY OF THE APPLICATIONS FOR AND ALLOCATIONS OF
52 THE TAX CREDIT CREATED IN THIS PART 54, BROKEN DOWN BY
53 GEOGRAPHIC LOCATION AND BY THE TAXPAYER APPLYING FOR THE
54 CREDIT;
55
1 (c) AN ANALYSIS, AS PRACTICABLE, OF THE IMPACT OF THE
2 MIDDLE-INCOME HOUSING TAX CREDIT PROGRAM CREATED IN THIS PART
3 54 ON THE FOLLOWING:
4 (I) MIDDLE-INCOME INDIVIDUALS AND FAMILIES IN THE
5 COMMUNITIES THAT THE QUALIFIED DEVELOPMENTS ARE INTENDED TO
6 SERVE;
7 (II) MIDDLE-INCOME INDIVIDUALS AND FAMILIES STATEWIDE;
8 (III) HOUSING NEEDS IN THE COMMUNITIES THAT THE QUALIFIED
9 DEVELOPMENTS ARE INTENDED TO SERVE; AND
10 (IV) HOUSING NEEDS STATEWIDE; AND
11 (d) ANY CHALLENGES OR OPPORTUNITIES RELATED TO THE
12 MIDDLE-INCOME HOUSING TAX CREDIT PROGRAM CREATED IN THIS PART
13 54, AS IDENTIFIED BY THE AUTHORITY.".
14
15

House Journal, April 30
45 Amendment No. 1, Finance Report, dated March 11, 2024, and placed in
46 member's bill file; Report also printed in House Journal, March 12, 2024.
47
48 Amendment No. 2, by Representative Lindstedt:
49
50 Amend printed bill, page 3, line 13, strike "39-22-5407." and substitute
51 "39-22-5408.".
52
53 Page 9, after line 8 insert:
54
55
1 "39-22-5404. Qualified development owned by governmental
2 or quasi-governmental entity. (1) NOTWITHSTANDING ANY OTHER
3 PROVISION OF THIS PART 54:
4 (a) THE AUTHORITY MAY ALLOCATE CREDITS TO ANY
5 GOVERNMENTAL OR QUASI-GOVERNMENTAL ENTITY, INCLUDING THE
6 MIDDLE-INCOME HOUSING AUTHORITY CREATED IN SECTION 29-4-1104,
7 WITH RESPECT TO A QUALIFIED DEVELOPMENT THAT IS OWNED BY SUCH
8 ENTITY.
9 (b) (I) A GOVERNMENTAL OR QUASI-GOVERNMENTAL ENTITY MAY
10 TRANSFER CREDITS ALLOCATED TO IT BY THE AUTHORITY TO ANY
11 QUALIFIED TAXPAYER.
12 (II) SUCH A GOVERNMENTAL OR QUASI-GOVERNMENTAL ENTITY
13 SHALL INVEST IN THE QUALIFIED DEVELOPMENT ANY COMPENSATION
14 RECEIVED IN CONNECTION WITH A TRANSFER OF CREDITS TO A QUALIFIED
15 TAXPAYER.
16 (III) A QUALIFIED TAXPAYER TO WHICH A CREDIT IS TRANSFERRED
17 PURSUANT TO THIS SUBSECTION (1)(b) IS ENTITLED TO CLAIM THE CREDIT
18 IN THE SAME MANNER AND SUBJECT TO THE SAME CONDITIONS AND
19 ALLOCATION RIGHTS AS AN OWNER OF A QUALIFIED DEVELOPMENT TO
20 WHICH THE AUTHORITY HAS ALLOCATED A CREDIT.
21 (c) (I) A CREDIT ALLOCATED TO A GOVERNMENTAL OR
22 QUASI-GOVERNMENTAL ENTITY OR A TRANSFEREE THEREOF IS SUBJECT TO
23 RECAPTURE PURSUANT TO SECTION 39-22-5405.
24 (II) IF A CREDIT TRANSFERRED TO A QUALIFIED TAXPAYER BY A
25 GOVERNMENTAL OR QUASI-GOVERNMENTAL ENTITY IS RECAPTURED
26 PURSUANT TO SECTION 39-22-5405, THE GOVERNMENTAL OR
27 QUASI-GOVERNMENTAL ENTITY SHALL NOTIFY THE DEPARTMENT OF THE
28 IDENTITY OF THE QUALIFIED TAXPAYER TO WHICH IT TRANSFERRED A
29 CREDIT.".
30
31 Renumber succeeding C.R.S. sections accordingly.
32
33 Amendment No. 3, by Representative Lindstedt:
34
35 Amend printed bill, page 12, after line 25 insert:
36
37 "SECTION 2. In Colorado Revised Statutes, 29-4-1107, amend
38 (14) as follows:
39 29-4-1107. Powers of the board - selection of projects -
40 ownership - report. (14) The authority shall not issue exempt facility
41 bonds, as defined in section 142(a) of the internal revenue code of 1986,
42 as amended, use private activity bonds volume cap allocation in the
43 issuance of any bonds, or receive a direct allocation, statewide balance
44 award or assignment of allocation of state ceiling under the Colorado
32 45 private activity bond ceiling allocation act set forth in part 17 of article
46 of title 24, and the authority shall not use federal LIHTC or THE
47 COLORADO state affordable housing tax credits CREDIT AUTHORIZED
48 UNDER PART 21 OF ARTICLE 22 OF TITLE 39 for its affordable rental
49 housing projects.".
50
51 Renumber succeeding section accordingly.
52
53 As amended, ordered engrossed and placed on the Calendar for Third
54 Reading and Final Passage.
55
56

Senate Journal, May 4
After consideration on the merits, the Committee recommends that HB24-1316 be
amended as follows, and as so amended, be referred to the Committee of the Whole with
favorable recommendation.

Amend reengrossed bill, page 7, strike lines 18 through 23 and substitute:

"(b) (I) THE AGGREGATE AMOUNT OF ALL CREDITS ALLOCATED BY THE
AUTHORITY IN EACH CALENDAR YEAR MUST NOT EXCEED THE FOLLOWING
AMOUNTS:
(A) FOR CALENDAR YEAR 2025, FIVE MILLION DOLLARS;
(B) FOR CALENDAR YEAR 2026, FIVE MILLION DOLLARS;
(C) FOR CALENDAR YEAR 2027, TEN MILLION DOLLARS;
(D) FOR CALENDAR YEAR 2028, TEN MILLION DOLLARS; AND
(E) FOR CALENDAR YEAR 2029, TEN MILLION DOLLARS.
(II) THE AUTHORITY MAY ALSO ALLOCATE ANY UNALLOCATED CREDITS
FROM PRECEDING CALENDAR YEARS, AND THESE UNALLOCATED CREDITS ARE
NOT INCLUDED IN THE ANNUAL DOLLAR LIMITS SPECIFIED IN SUBSECTION
(1)(b)(I) OF THIS SECTION.".

Strike "DECEMBER 31, 2027," and substitute "DECEMBER 31, 2029," on: Page
7, line 14; and Page 7, line 25.


Appro-
priations

Senate Journal, May 6
HB24-1316 by Representative(s) Lindstedt and Lindsay; also Senator(s) Bridges--Concerning the
creation of a pilot program for a middle-income housing income tax credit.

Senator Bridges moved to amend the Report of the Committee of the Whole to show that
the following Bridges floor amendment, (L.006) to HB24-1316, did pass, and that
HB24-1316, as amended, did pass.

Amend the Appropriations Committee Report, dated May 4, 2024, page 1,
line 13, strike "(1)(b)(I)" and substitute "(4)(b)(I)".




BILL HB24-1358


The bill adds established payments to loan-out companies personal services corporations as a qualified local expenditure (expenditure) for the purpose of qualifying for the film incentive income tax credit (credit) , removes a condition that the credit is available only in years that the amount of state revenues are in excess of the limitation of state fiscal year spending by at least $50 million, and extends the deadline from February 4, 2025, to July 1, 2028, for a tax credit effectiveness study to be submitted to the finance committees of the house of representatives and the senate.

The bill requires a production company to make at least $100,000 in expenditures for the production company to be eligible for the credit. The credit must not exceed 22% of the expenditures of the production company and $5 million is the maximum aggregate amount of all credits that may be issued in one calendar year. The bill establishes a reservation system for a production company to apply for the credit before commencing production activities (activities).

If the office of film, television, and media (office) determines that a production company is entitled to a tax credit reservation, the office shall notify the company in writing of the reservation and the amount, which must not exceed 22% of the company's estimated expenditures. Once a production company has completed its activities in the state, the company may be issued a tax credit certificate if the office determines that the production company complied with all the requirements for the issuance of the credit. Activities must be completed on or before December 31, 2031.

The office must provide the department of revenue with an electronic report of each production company to which the office issued a tax credit certificate for the preceding income tax year that includes the name of the production company, the amount of the credit awarded, and the production company's social security number or the production company's Colorado account number and federal employer identification number. The bill repeals the film incentive income tax credit on January 1, 2032.

The bill appropriates $29,120 from the general fund to the office of the governor for state fiscal year 2024-25. The bill also appropriates $400,000 to the office of the governor for state fiscal year 2024-25 from the Colorado office of film, television, and media operational account cash fund. The appropriations may be used by the office to implement the bill.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
3/4/2024 Introduced In House - Assigned to Finance
3/21/2024 House Committee on Finance Refer Unamended to Appropriations
4/25/2024 House Committee on Appropriations Refer Amended to House Committee of the Whole
4/25/2024 House Second Reading Special Order - Passed with Amendments - Committee, Floor
4/26/2024 House Third Reading Passed - No Amendments
4/29/2024 Introduced In Senate - Assigned to Finance
4/30/2024 Senate Committee on Finance Refer Unamended to Appropriations
5/4/2024 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole
5/6/2024 Senate Second Reading Special Order - Laid Over to 05/07/2024 - No Amendments
5/7/2024 Senate Second Reading Special Order - Passed - No Amendments
5/8/2024 Senate Third Reading Passed - No Amendments
5/16/2024 Sent to the Governor
5/16/2024 Signed by the President of the Senate
5/16/2024 Signed by the Speaker of the House
5/28/2024 Governor Signed

Amendment

House Journal, April 24
35 HB24-1358 be amended as follows, and as so amended, be referred to
36 the Committee of the Whole with favorable
37 recommendation:
38
39 Amend printed bill, page 4, after line 21 insert:
40
41 "SECTION 2. Appropriation. For the 2024-25 state fiscal year,
42 $29,120 is appropriated to the office of the governor for use by economic
43 development programs. This appropriation is from the general fund. To
44 implement this act, the office may use this appropriation for the Colorado
45 office of film, television, and media.
46 SECTION 3. Appropriation. For the 2024-25 state fiscal year,
47 $400,000 is appropriated to the office of the governor for use by
48 economic development programs. This appropriation is from the
49 Colorado office of film, television, and media operational account cash
50 fund created in section 24-48.5-116 (5)(a), C.R.S. To implement this act,
51 the office may use this appropriation for the Colorado office of film,
52 television, and media.".
53
54 Renumber succeeding section accordingly.
55
56
1 Page 1, line 101, strike "CREDIT." and substitute "CREDIT, AND, IN
2 CONNECTION THEREWITH, MAKING AN APPROPRIATION.".
3
4

House Journal, April 24
4 Amendment No. 1, Appropriations Report, dated April 25, 2024, and
5 placed in member's bill file; Report also printed in House Journal,
6 April 25, 2024.
7
8 Amendment No. 2, by Representative Herod:
9
10 Amend printed bill, page 2, line 3, strike "(3) introductory portion," and
11 substitute "(3)," and after "(5)(a)," insert "(6)(a) introductory portion,
12 (6)(a)(I), (6)(a)(II) introductory portion, (6)(b), (6)(c)(I), (6)(c)(II)(A),
13 (6)(d), (7),".
14
15 Page 3, line 8, strike "subsection (5)" and substitute "subsection (5)
16 SUBSECTIONS (5) AND (6)".
17
18 Page 3, line 9, strike "but" and substitute "but".
19
20 Page 3, line 10, strike "before" and substitute "before" and after "January
21 1, 2025," insert "JANUARY 1, 2032,".
22
23 Page 3, line 12, after "company" insert "MAKING AT LEAST ONE HUNDRED
24 THOUSAND DOLLARS IN ACTUAL QUALIFIED LOCAL EXPENDITURES AND".
25
26 Page 3, line 13, strike "the" and substitute "the AN".
27
28 Page 3, strike line 14 and substitute "equal to: NOT TO EXCEED
29 TWENTY-TWO PERCENT OF THE ACTUAL QUALIFIED LOCAL EXPENDITURES.
30 (a) Twenty percent of the total amount of the production
31 company's qualified local expenditures if the total of such expenditures
32 equals or exceeds one hundred thousand dollars for a production company
33 that originates production activities in Colorado;
34 (b) Twenty percent of the total amount of the production
35 company's qualified local expenditures if the total of such expenditures
36 equals or exceeds two hundred fifty thousand dollars for a production
37 company that produces a television commercial or video game and that
38 does not originate production activities in Colorado but employs a
39 workforce made up of at least fifty percent Colorado residents for any
40 in-state production activity; and
41 (c) Twenty-two percent of the total amount of the production
42 company's qualified local expenditures if the executive director of the
43 office of economic development determines, in the executive director's
44 discretion, that the production company meets the criteria of either
45 subsection (3)(a) or (3)(b) of this section and filmed in a rural community,
46 or a marginalized urban center or used local infrastructure when
47 filming.".
48
49 Page 3, strike lines 15 through 18 and substitute:
50
2024 51 "(5) (a) For the income tax year that commences during the
52 calendar year, AND FOR EACH CALENDAR YEAR THEREAFTER, the
53 maximum aggregate amount of all tax credits allowed pursuant to
54 subsection (3) THAT THE OFFICE MAY RESERVE PURSUANT TO SUBSECTION
55 (6) of this section is five million dollars PER CALENDAR YEAR. if, based
56 on the".
1 Page 4, after line 16 insert:
2
3 "(6) (a) For a production company to claim a tax credit pursuant
4 to subsection (3) of this section, the production company must apply to
5 the office FOR A TAX CREDIT RESERVATION, in a manner to be determined
6 by the office prior to beginning production activities in the state for the
7 project for which the production company is seeking a tax credit. The
8 application FOR A TAX CREDIT RESERVATION must include a statement of
9 intent by the production company to produce a film in Colorado for which
10 the production company will be eligible to receive the tax credit. The
11 production company must submit, in conjunction with the application, any
12 documentation necessary to demonstrate that:
13 (I) The production company's projected qualified local
14 expenditures will satisfy the minimum expenditures requirements
15 EXPENDITURE REQUIREMENT specified in subsection (3)(a) or (3)(b)
16 SUBSECTION (3) of this section, as applicable and, if applicable, the
17 requirements set forth in subsection (3)(c) of this section; and
18 (II) If the production company seeks a tax credit specified in
19 subsection (3)(a) SUBSECTION (3) of this section, the production company
20 will originate production activities in Colorado, including copies of
21 income tax forms, proof of voter registration, or copies of utility bills, to
22 provide documentary evidence that, as of the date of applying for a tax
23 credit:
24 (b) (I) The office shall review each application FOR A TAX CREDIT
25 RESERVATION submitted by a production company before the production
26 company begins work on a film in Colorado. Based on the information
27 provided in the production company's application the office shall make
28 an initial determination of whether the production company will be
29 eligible to receive a tax credit and estimate the amount of the tax credit
30 that may be granted to the production company. The office, with the
31 approval of the Colorado economic development commission created in
32 section 24-46-102, shall grant conditional written approval to a
33 production company that, based on the information provided by the
34 production company and on an analysis of such information by the office
35 and the Colorado economic development commission, the production
36 company will satisfy the requirements of subsection (3) of this section
37 and be eligible to claim a tax credit. The office shall not grant conditional
38 written approval to a production company until the production company
39 and the office have entered into a contract. FOR A TAX CREDIT
40 RESERVATION, THE OFFICE MAY DETERMINE THAT A PRODUCTION
41 COMPANY IS ENTITLED TO A TAX CREDIT RESERVATION IN ACCORDANCE
42 WITH THE PROVISIONS OF THIS SECTION. THE OFFICE SHALL ISSUE TAX
43 CREDIT RESERVATIONS SUBJECT TO THE LIMITATIONS SET FORTH IN THIS
44 SUBSECTION (6) AND IN SUBSECTION (5) OF THIS SECTION. THE OFFICE
45 SHALL NOT ISSUE TAX CREDIT RESERVATIONS AFTER DECEMBER 31, 2029.
46 (II) IF THE OFFICE RESERVES A TAX CREDIT FOR THE BENEFIT OF A
47 PRODUCTION COMPANY, THE OFFICE SHALL NOTIFY THE PRODUCTION
48 COMPANY IN WRITING OF THE RESERVATION AND THE AMOUNT RESERVED.
49 THE RESERVATION OF A TAX CREDIT BY THE OFFICE FOR A PRODUCTION
50 COMPANY DOES NOT ENTITLE THE PRODUCTION COMPANY TO THE
51 ISSUANCE OF A TAX CREDIT CERTIFICATE UNTIL THE PRODUCTION
52 COMPANY COMPLIES WITH ALL OF THE OTHER REQUIREMENTS SPECIFIED IN
53 THIS SECTION FOR THE ISSUANCE OF THE TAX CREDIT CERTIFICATE. WHEN
54 THE OFFICE APPROVES A TAX CREDIT RESERVATION, THE OFFICE MAY ALSO
1 IMPOSE ADDITIONAL REQUIREMENTS, WHICH A PRODUCTION COMPANY
2 SHALL SATISFY AS PART OF COMPLETING THE PRODUCTION ACTIVITIES
3 BEFORE A TAX CREDIT CERTIFICATE IS ISSUED TO THE PRODUCTION
4 COMPANY.
5 (III) IF APPROVED, THE OFFICE MAY ISSUE A TAX CREDIT
6 RESERVATION TO A PRODUCTION COMPANY IN AN AMOUNT NOT TO EXCEED
7 TWENTY-TWO PERCENT OF THE ESTIMATED QUALIFIED LOCAL
8 EXPENDITURES.
9 (c) (I) (A) A PRODUCTION COMPANY SHALL COMPLETE THE
10 PRODUCTION ACTIVITIES IN COLORADO ON OR BEFORE DECEMBER 31,
11 2031. Upon completion of the production activities in Colorado, a
12 production company that received conditional approval for a tax credit
13 RESERVATION from the office must retain a certified public accountant
14 licenced LICENSED to practice in the state or a certified public accounting
15 firm that is registered in the state, to review and report in writing, and in
16 accordance with professional standards, regarding the accuracy of the
17 financial documents that detail the expenses incurred in the course of the
18 film production activities in Colorado. The certified public accountant's
19 written report must include documentation of the production company's
20 expenditures, including its actual qualified local expenditures, and any
21 documentation necessary to show that the production company employed
22 a workforce for the in-state production activities made up of at least fifty
23 percent Colorado residents. When the production company provides a
24 copy of the certified public accountant's written report and the production
25 company certifies in writing to the office that the amount of the
26 production company's actual qualified local expenditures equals or
27 exceeds the applicable minimum total amount of the production
28 company's qualified local expenditures as specified in subsection (3) of
29 this section, the office shall conduct a review of the certified public
30 accountant's written report to ensure the requirements of this section are
31 met. If the office is satisfied that the requirements of this section are met,
32 and the office confirms that the certified public accountant who provided
33 the written report is from the list described in subsection (6)(c)(II)(B) of
34 this section, then the office shall issue to the production company a tax
35 credit certificate that evidences the production company's right to claim
36 the tax credit allowed under subsection (3) of this section. The tax credit
37 certificate must include the taxpayer's name, the taxpayer's social security
38 number or federal employer identification number, the approved tax
39 credit amount, the income tax year for which the tax credit is being
40 allowed, and any other information that the executive director of the
41 department of revenue may require. The office shall not issue tax credit
42 certificates for all income tax years that commence in a single income tax
43 year in excess of the maximum aggregate amount for such income tax
44 years.
45 (B) IF THE OFFICE DETERMINES THAT A PRODUCTION COMPANY HAS
46 FAILED TO COMPLY WITH THE REQUIREMENTS OF THIS SUBSECTION (6), THE
47 OFFICE SHALL NOTIFY THE PRODUCTION COMPANY AND MAY RESCIND THE
48 TAX CREDIT RESERVATION. IF THE OFFICE RESCINDS THE TAX CREDIT
49 RESERVATION, THE PRODUCTION COMPANY MAY SUBMIT A NEW TAX
50 CREDIT RESERVATION APPLICATION PURSUANT TO THIS SUBSECTION (6).
51 WHEN THE OFFICE RESCINDS A TAX CREDIT RESERVATION IN A CALENDAR
52 YEAR, THE MAXIMUM AGGREGATE AMOUNT OF ALL TAX CREDITS THAT THE
53 OFFICE MAY RESERVE IN THAT CALENDAR YEAR SET FORTH IN SUBSECTION
54 (5)(a) OF THIS SECTION IS INCREASED BY THE AMOUNT OF THE RESCINDED
55 TAX CREDIT RESERVATION.
56
1 (II) (A) Any services provided by a certified public accountant to
2 meet the requirements of this subsection (5)(c) SUBSECTION (6)(c) must
3 be performed in Colorado.
4 (d) The office shall develop procedures for the administration of
5 this section, including application guidelines for production companies
6 applying to receive a tax credit RESERVATION.
7 (7) (a) A production company shall claim the credit allowed under
8 subsection (3) of this section by including the credit certificate issued to
9 the production company by the office pursuant to subsection (6)(c)(I) of
10 this section with its income tax return for the income tax year for which
11 the certificate was issued. If the amount of the tax credit exceeds the
12 production company's income taxes due on the income of the production
13 company for the income tax year, the excess credit is not carried forward
14 and shall be refunded to the taxpayer.
15 (b) THE OFFICE SHALL, IN A SUFFICIENTLY TIMELY MANNER TO
16 ALLOW THE DEPARTMENT TO PROCESS RETURNS CLAIMING THE INCOME
17 TAX CREDIT ALLOWED IN THIS SECTION, PROVIDE THE DEPARTMENT WITH
18 AN ELECTRONIC REPORT OF EACH PRODUCTION COMPANY TO WHICH THE
19 OFFICE ISSUED A TAX CREDIT CERTIFICATE FOR THE PRECEDING INCOME
20 TAX YEAR THAT INCLUDES THE FOLLOWING INFORMATION:
21 (I) THE PRODUCTION COMPANY'S NAME;
22 (II) THE AMOUNT OF THE INCOME TAX CREDIT; AND
23 (III) THE PRODUCTION COMPANY'S SOCIAL SECURITY NUMBER OR
24 THE PRODUCTION COMPANY'S COLORADO ACCOUNT NUMBER AND
25 FEDERAL EMPLOYER IDENTIFICATION NUMBER.".
26
27 As amended, ordered engrossed and placed on the Calendar for Third
28 Reading and Final Passage.
29




BILL SB24-002


Under current law, counties and municipalities are authorized to issue tax incentives, including property and sales tax credits or rebates, to promote certain uses of real property, such as the installation of renewable energy fixtures. Section 2 of the bill authorizes boards of county commissioners to establish a similar incentive program to offer limited county property tax credits or rebates to participants in a program designed to directly improve an area of specific local concern related to the use of real property in the county. Section 3 sets forth applicable definitions and requirements to establish an incentive program to address an "area of specific local concern", which is defined as "a use of real property in the county that is determined by the board of county commissioners to be diminishing or unavailable based on verifiable data and which use the board of county commissioners finds and declares necessary for the preservation of the health, safety, or welfare of the residents of the county , including as to matters of equity, access to housing, and access to education ". The bill further specifies that an "area of specific local concern" does not include a use of real property in a county that:

An incentive program must be established by resolution or ordinance adopted by a board of county commissioners at a public hearing and must include the board's findings and determinations regarding the specific area of local concern and specific criteria for the qualification of program participants. The county must include specified information regarding the incentive program in a notice of the hearing provided to the clerk of each municipality that is wholly or partly located in the county and that may be impacted by the incentive program. Each such municipality must be allowed to submit written comments and provide testimony at the hearing.

Incentive programs must be evaluated on an annual basis and may be renewed only if determined to be effective. An incentive program must be uniformly applied among all owners of the same class of real or commercial property.

Sections 4 and 5 authorize municipalities to establish an identical incentive program offering limited municipal property tax credits or rebates to participants in a program designed to directly improve an area of specific local concern related to the use of real property in the municipality. A municipal incentive program is subject to the same substantive and procedural requirements as a county program, including the requirement to provide notice of the public hearing regarding the incentive program, and an opportunity to submit written comments and provide testimony at such hearing, to each county that includes all or any portion of the municipality and that may be impacted by the incentive program.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
1/10/2024 Introduced In Senate - Assigned to Local Government & Housing
1/30/2024 Senate Committee on Local Government & Housing Refer Amended - Consent Calendar to Senate Committee of the Whole
2/2/2024 Senate Second Reading Passed with Amendments - Committee
2/5/2024 Senate Third Reading Passed - No Amendments
2/6/2024 Introduced In House - Assigned to Transportation, Housing & Local Government
2/13/2024 House Committee on Transportation, Housing & Local Government Refer Unamended to House Committee of the Whole
2/16/2024 House Second Reading Laid Over Daily - No Amendments
2/23/2024 House Second Reading Special Order - Passed with Amendments - Floor
2/26/2024 House Third Reading Passed - No Amendments
2/27/2024 Senate Considered House Amendments - Result was to Concur - Repass
3/11/2024 Signed by the President of the Senate
3/11/2024 Signed by the Speaker of the House
3/12/2024 Sent to the Governor
3/15/2024 Governor Signed

Amendment

Senate Journal, January 31
After consideration on the merits, the Committee recommends that SB24-002 be amended
as follows, and as so amended, be referred to the Committee of the Whole with favorable
recommendation and with a recommendation that it be placed on the Consent Calendar.
Amend printed bill, page 5, line 9, after "(a)" insert "(I)".

Page 5, line 15, strike "COUNTY." and substitute "COUNTY, INCLUDING AS TO
MATTERS OF EQUITY, ACCESS TO HOUSING, AND ACCESS TO EDUCATION.".

Page 5, before line 16 insert:

"(II) "AREA OF SPECIFIC LOCAL CONCERN" DOES NOT INCLUDE A USE OF
REAL PROPERTY IN A COUNTY THAT HARMS OR MAY REASONABLY BE EXPECTED
TO HARM A DISPROPORTIONATELY IMPACTED COMMUNITY AS DEFINED IN
SECTION 24-4-109 (2)(b)(II).
(III) "AREA OF SPECIFIC LOCAL CONCERN" DOES NOT INCLUDE A USE OF
REAL PROPERTY IN A COUNTY THAT PREVENTS OR MAY REASONABLY BE
EXPECTED TO PREVENT MEETING THE MINIMUM GREENHOUSE GAS EMISSION
REDUCTION GOALS AND DEADLINES ESTABLISHED IN SECTION 25-7-102 (2)(g).".

Page 6, line 15, strike "A MUNICIPALITY".

Page 6, strike lines 16 through 18 and substitute "THE COUNTY MUST NOTIFY
THE CLERK OF EACH MUNICIPALITY THAT IS WHOLLY OR PARTLY LOCATED IN
THE COUNTY AND THAT MAY BE IMPACTED BY THE INCENTIVE PROGRAM OF THE
HEARING AT LEAST THIRTY DAYS IN ADVANCE. THE NOTICE MUST DESCRIBE THE
SPECIFIC AREA OF LOCAL CONCERN, INCLUDING THE USE OF REAL PROPERTY,
ADDRESSED BY THE INCENTIVE PROGRAM AND THE PROPOSED COUNTY
PROPERTY TAX CREDIT OR REBATE. EACH MUNICIPALITY MUST HAVE AN
OPPORTUNITY TO SUBMIT WRITTEN COMMENTS AND PROVIDE TESTIMONY AT
THE HEARING.".

Page 8, line 3, after "(a)" insert "(I)".

Page 8, line 9, strike "MUNICIPALITY." and substitute "MUNICIPALITY,
INCLUDING AS TO MATTERS OF EQUITY, ACCESS TO HOUSING, AND ACCESS TO
EDUCATION.".

Page 8, before line 10, insert:

"(II) "AREA OF SPECIFIC LOCAL CONCERN" DOES NOT INCLUDE A USE OF
REAL PROPERTY IN A MUNICIPALITY THAT HARMS OR MAY REASONABLY BE
EXPECTED TO HARM A DISPROPORTIONATELY IMPACTED COMMUNITY AS
DEFINED IN SECTION 24-4-109 (2)(b)(II).
(III) "AREA OF SPECIFIC LOCAL CONCERN" DOES NOT INCLUDE A USE OF
REAL PROPERTY IN A MUNICIPALITY THAT PREVENTS OR MAY REASONABLY BE
EXPECTED TO PREVENT MEETING THE MINIMUM GREENHOUSE GAS EMISSION
REDUCTION GOALS AND DEADLINES ESTABLISHED IN SECTION 25-7-102 (2)(g).".

Page 9, line 8, strike "A COUNTY THAT INCLUDES ALL OR".

Page 9, strike lines 9 through 11 and substitute "THE MUNICIPALITY MUST
NOTIFY THE CLERK AND RECORDER OF EACH COUNTY THAT INCLUDES ALL OR
ANY PORTION OF THE MUNICIPALITY AND THAT MAY BE IMPACTED BY THE
INCENTIVE PROGRAM OF THE HEARING AT LEAST THIRTY DAYS IN ADVANCE. THE
NOTICE MUST DESCRIBE THE SPECIFIC AREA OF LOCAL CONCERN, INCLUDING THE
USE OF REAL PROPERTY, ADDRESSED BY THE INCENTIVE PROGRAM AND THE
PROPOSED MUNICIPAL PROPERTY TAX CREDIT OR REBATE. EACH COUNTY MUST
HAVE AN OPPORTUNITY TO SUBMIT WRITTEN COMMENTS AND PROVIDE
TESTIMONY AT THE HEARING.".

House Journal, February 23
13 Amendment No. 1, by Speaker McCluskie:
14
15 Amend reengrossed bill, page 7, after line 24, insert:
16
17 "(b) THE BOARD OF COUNTY COMMISSIONERS SHALL, ON AN
18 ANNUAL BASIS, PUBLICIZE THE RESULTS OF THE EVALUATION OF EACH
19 INCENTIVE PROGRAM ESTABLISHED PURSUANT TO THIS SECTION AT A
20 HEARING THAT IS OPEN TO THE PUBLIC AND THAT INCLUDES AN
21 OPPORTUNITY FOR PUBLIC TESTIMONY.".
22
23 Reletter succeeding paragraph accordingly.
24
25 Page 11, after line 4, insert:
26
27 "(b) THE GOVERNING BODY OF A MUNICIPALITY SHALL, ON AN
28 ANNUAL BASIS, PUBLICIZE THE RESULTS OF THE EVALUATION OF EACH
29 INCENTIVE PROGRAM ESTABLISHED PURSUANT TO THIS SECTION AT A
30 HEARING THAT IS OPEN TO THE PUBLIC AND THAT INCLUDES AN
31 OPPORTUNITY FOR PUBLIC TESTIMONY.".
32
33 Reletter succeeding paragraph accordingly.
34
35 As amended, ordered revised and placed on the Calendar for Third
36 Reading and Final Passage.
37




BILL SB24-016


A qualified intermediary is a charitable organization that collects charitable contributions from donors and forwards the contributions to charitable recipient organizations. The bill authorizes a taxpayer to make a charitable contribution for which the taxpayer may claim a state income tax credit to a charitable recipient organization through a qualified intermediary that forwards the contribution to the charitable recipient organization, rather than making the contribution directly to the charitable recipient organization, without losing the right to claim the credit. The bill does not modify or eliminate any obligation of a recipient organization to issue tax credit certificates, collect information from donors, provide information to the department of revenue or any other state agency, or take any other action necessary for the proper administration of a credit. For the 2024-25 state fiscal year, $108,937 is appropriated from the general fund to the department of revenue and $5,000 is appropriated from the general fund to the department of local affairs for implementation of the bill.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
1/10/2024 Introduced In Senate - Assigned to Finance
1/30/2024 Senate Committee on Finance Refer Amended to Appropriations
3/8/2024 Senate Committee on Appropriations Refer Amended - Consent Calendar to Senate Committee of the Whole
3/12/2024 Senate Second Reading Passed - No Amendments
3/12/2024 Senate Second Reading Passed with Amendments - Committee
3/13/2024 Senate Third Reading Passed - No Amendments
3/13/2024 Introduced In House - Assigned to Finance
4/10/2024 House Committee on Finance Refer Amended to Appropriations
5/6/2024 House Committee on Appropriations Refer Amended to House Committee of the Whole
5/6/2024 House Second Reading Special Order - Passed with Amendments - Committee
5/7/2024 House Third Reading Passed - No Amendments
5/8/2024 Senate Considered House Amendments - Result was to Concur - Repass
5/9/2024 Signed by the President of the Senate
5/10/2024 Sent to the Governor
5/10/2024 Signed by the Speaker of the House
6/7/2024 Governor Signed

Amendment

Senate Journal, January 31
After consideration on the merits, the Committee recommends that SB24-016 be amended
as follows, and as so amended, be referred to the Committee on Appropriations with
favorable recommendation.
Amend printed bill, page 3, line 20, after the period add "NOTHING IN THIS
SUBSECTION (1) MODIFIES OR ELIMINATES ANY OBLIGATION OF A RECIPIENT
ORGANIZATION, AS SET FORTH IN A STATE LAW, RULE, OR AGENCY GUIDELINE,
TO ISSUE TAX CREDIT CERTIFICATES, COLLECT INFORMATION FROM DONORS,
PROVIDE INFORMATION TO THE DEPARTMENT OF REVENUE OR ANY OTHER STATE
AGENCY, OR TAKE ANY OTHER ACTION NECESSARY FOR THE PROPER
ADMINISTRATION OF A CREDIT.".

Page 3, line 27, strike "FEDERAL "INTERNAL REVENUE CODE OF 1986", AS
AMENDED," and substitute "INTERNAL REVENUE CODE.".

Page 4, line 7, strike "FEDERAL "INTERNAL REVENUE CODE OF 1986", AS
AMENDED," and substitute "INTERNAL REVENUE CODE.".


Finance


Senate Journal, March 8
After consideration on the merits, the Committee recommends that SB24-016 be amended
as follows, and as so amended, be referred to the Committee of the Whole with favorable
recommendation and with a recommendation that it be placed on the Consent Calendar.
Amend printed bill, page 4, after line 10 insert:

"SECTION 3. Appropriation. (1) For the 2024-25 state fiscal year,
$108,937 is appropriated to the department of revenue for use by the taxation
business group. This appropriation is from the general fund. To implement this
act, the division may use this appropriation as follows: (a) $93,549 for
personal services related to taxation services, which amount is based on an
assumption that the division will require an additional 1.6 FTE; and
(b) $15,388 for operating expenses related to taxation services.
(2) For the 2024-25 state fiscal year, $5,000 is appropriated to the department
of local affairs. This appropriation is from the general fund. To implement this
act, the department may use this appropriation for payments to OIT.".

Renumber succeeding section accordingly.

Page 1, line 108, strike "ORGANIZATION AND" and substitute
"ORGANIZATION,".

Page 1, line 112, strike "NUMBER." and substitute "NUMBER, AND MAKING AN
APPROPRIATION.".


Appro-
priations


House Journal, April 11
51 SB24-016 be amended as follows, and as so amended, be referred to
52 the Committee on Appropriations with favorable
53 recommendation:
54
55
1 Amend reengrossed bill, page 2, line 3, after "(3)(c)" insert "and
2 (5)(f)(I)".
3
4 Page 3, after line 7, insert:
5
6 "(5) (f) (I) No later than February 15, 2023 JUNE 30, 2025, the
7 division shall complete a review of every organization and project
8 deemed approved under subsection (5)(a)(II) of this section, and no later
9 than February 15, 2024 JUNE 30, 2026, and February 15 JUNE 30 of each
10 year thereafter, the division shall complete a review of every other
11 approved nonprofit organization and approved project to evaluate
12 performance and compliance with the requirements of this section. The
13 division must review the qualifying activities being provided and
14 determine how the activities are addressing current and emerging needs
15 of individuals and families experiencing homelessness in each approved
16 nonprofit organization's community, or, if applicable, each approved
17 project's community.".
18
19

House Journal, May 6
51 SB24-016 be amended as follows, and as so amended, be referred to
52 the Committee of the Whole with favorable
53 recommendation:
54
55
1 Amend reengrossed bill, page 2, line 16, after "state" insert "A UNIQUE
2 CERTIFICATE IDENTIFICATION NUMBER,".
3
4 Page 4, after line 15 insert:
5
6 "SECTION 3. In Colorado Revised Statutes, 39-30-103.5, repeal
7 (5)(b) as follows:
8 39-30-103.5. Credit against tax - contributions to enterprise
9 zone administrators to implement economic development plans -
10 repeal. (5) (b) For income tax years commencing on and after January
11 1, 2013, contributions pursuant to this section may be made directly to an
12 organization that has attained tax exempt status under section 501 (c)(3)
13 of the federal "Internal Revenue Code of 1986", as amended, if such
14 organization is obligated to disburse the contribution as directed by the
15 taxpayer to a recipient organization that has attained tax exempt status
16 under section 501 (c)(3) of the federal "Internal Revenue Code of 1986",
17 as amended, or to such recipient organization's program or project, so
18 long as either the recipient organization, program, or project is certified
19 by the enterprise zone administrator as meeting the criteria set forth in
20 this section for the purpose of receiving direct contributions as allowed
21 in paragraph (a) of this subsection (5).".
22
23 Renumber succeeding sections accordingly.
24
25 Page 4, strike lines 16 through 23 and substitute:
26
27 "SECTION 4. Appropriation. (1) For the 2024-25 state fiscal
28 year, $41,769 is appropriated to the department of revenue. This
29 appropriation is from the general fund. To implement this act, the
30 department may use this appropriation as follows:
31 (a) $22,029 for use by the taxation business group for personal
32 services related to taxation services, which amount is based on an
33 assumption that the division will require an additional 0.4 FTE;
34 (b) $7,182 for use by the taxation business group for operating
35 expenses related to taxation services;
36 (c) $7,416 for tax administration IT system (GenTax) support;
37 (d) $2,590 for use by the executive director's office for personal
38 services related to administration and support; and
39 (e) $2,552 for the purchase of document management.
40 (2) For the 2024-25 state fiscal year, $2,552 is appropriated to the
41 department of personnel. This appropriation is from reappropriated funds
42 received from the department of revenue under subsection (1)(e) of this
43 section. To implement this act, the department of personnel may use this
44 appropriation to provide document management services for the
45 department of revenue.".
46
47 Renumber succeeding subsection accordingly.
48
49




BILL SB24-024


Sales and Use Tax Simplification Task Force. The bill requires local taxing jurisdictions, including any home rule locality, which are limited to jurisdictions for which the department of revenue does not collect, administer, and enforce a local lodging tax, to apply the same reporting requirements or standards to an accommodation's intermediary as to a marketplace facilitator that is obligated to collect and remit a local lodging tax. The bill prohibits local taxing jurisdictions from requiring additional reporting information from an accommodation's intermediary. The bill also prohibits a local taxing jurisdiction that has passed an applicable marketplace facilitator law from auditing a marketplace facilitator for sales facilitated by the marketplace at any time other than when the marketplace facilitator is filing tax returns with the local taxing jurisdiction. The bill does not prohibit a local taxing jurisdiction from requesting information maintained by an accommodation's intermediary that is in connection with an audit related to a local lodging tax or from requesting and obtaining additional information or data from a marketplace facilitator or accommodation's intermediary to be provided on a voluntary basis or prohibit a home rule municipality, for purposes unrelated to the administration of local taxes, from passing an ordinance regulating a marketplace facilitator or an accommodation's intermediary, including an ordinance governing the issuance of information or data by a marketplace facilitator or accommodation's intermediary to the home rule city.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
1/10/2024 Introduced In Senate - Assigned to Finance
1/30/2024 Senate Committee on Finance Witness Testimony and/or Committee Discussion Only
2/15/2024 Senate Committee on Finance Refer Amended - Consent Calendar to Senate Committee of the Whole
2/21/2024 Senate Second Reading Passed - No Amendments
2/21/2024 Senate Second Reading Passed with Amendments - Committee
2/22/2024 Senate Third Reading Passed - No Amendments
2/22/2024 Introduced In House - Assigned to Finance
4/4/2024 House Committee on Finance Refer Amended to House Committee of the Whole
4/5/2024 House Second Reading Special Order - Passed with Amendments - Committee
4/8/2024 House Third Reading Passed - No Amendments
4/9/2024 Senate Considered House Amendments - Result was to Concur - Repass
4/12/2024 Signed by the Speaker of the House
4/12/2024 Signed by the President of the Senate
4/12/2024 Sent to the Governor
4/19/2024 Governor Signed

Amendment

Senate Journal, February 16
After consideration on the merits, the Committee recommends that SB24-024 be amended
as follows, and as so amended, be referred to the Committee of the Whole with favorable
recommendation and with a recommendation that it be placed on the Consent Calendar.
Amend printed bill, page 2, strike lines 2 through 23.

Strike pages 3 and 4.

Page 5, strike lines 1 through 3.

Renumber succeeding sections accordingly.

Page 5, line 7, before "definitions." insert " legislative declaration -".

Page 5, line 7, strike "FOR PURPOSES OF LOCAL TAX" and substitute "THE
GENERAL ASSEMBLY FINDS AND DECLARES THAT:
(a) LOCAL TAXING JURISDICTIONS MAY IMPOSE A LOCAL LODGING TAX;
(b) LOCAL LODGING TAXES ACROSS LOCAL TAXING JURISDICTIONS VARY
VASTLY;
(c) LOCAL TAXING JURISDICTIONS ALSO VARY ON REPORTING
REQUIREMENTS FOR LOCAL LODGING OPERATORS AND ACCOMMODATION
INTERMEDIARIES;
(d) SUCH VARIATION ACROSS LOCAL TAXING JURISDICTIONS IS
EXCEEDINGLY BURDENSOME ON LOCAL LODGING OPERATORS AND
ACCOMMODATION INTERMEDIARIES;
(e) IT IS OF STATEWIDE CONCERN TO HAVE UNIFORMITY ACROSS LOCAL
TAXING JURISDICTIONS TO PROMOTE ACCURATE COMPLIANCE WITH THE
COLLECTION AND REMITTANCE OF LOCAL LODGING TAXES; AND
(f) IT IS ALSO OF STATEWIDE CONCERN TO STANDARDIZE REPORTING
REQUIREMENTS TO PROMOTE UNIFORM AND CONSISTENT TREATMENT AMONG
TAXPAYERS AND PREVENT DISPARATE TAX TREATMENT.
(2)(a) FOR PURPOSES OF LOCAL TAX".

Renumber succeeding subsections accordingly.

Page 5, line 14, strike "NOTHING IN THIS SECTION PROHIBITS A" and substitute:
"(b) NOTHING IN THIS SECTION PROHIBITS A".

Page 5, line 18, after "BUSINESS." insert "NOTHING IN THIS SECTION PROHIBITS
A LOCAL TAXING JURISDICTION FROM REQUESTING AND OBTAINING ADDITIONAL
INFORMATION OR DATA FROM A MARKETPLACE FACILITATOR OR AN
ACCOMMODATION'S INTERMEDIARY TO BE PROVIDED ON A VOLUNTARY BASIS.
NOTHING IN THIS SECTION PROHIBITS A HOME RULE CITY, FOR PURPOSES
UNRELATED TO THE ADMINISTRATION OF LOCAL TAXES, FROM PASSING AN
ORDINANCE REGULATING A MARKETPLACE FACILITATOR OR AN
ACCOMMODATION'S INTERMEDIARY, INCLUDING AN ORDINANCE GOVERNING THE
ISSUANCE OF INFORMATION OR DATA BY A MARKETPLACE FACILITATOR OR
ACCOMMODATION'S INTERMEDIARY TO THE HOME RULE CITY, UNLESS
OTHERWISE PROTECTED BY STATE OR FEDERAL LAW.".

Page 5, line 18, strike "WITH RESPECT TO ANY SALE, A LOCAL" and substitute:
"(c) WITH RESPECT TO ANY SALE IN A LOCAL".

Page 5, line 19, after "JURISDICTION" insert "THAT HAS PASSED AN APPLICABLE
MARKETPLACE FACILITATOR LAW, A LOCAL TAXING JURISDICTION".

Page 5, line 20, strike "MARKETPLACE. A" and substitute "MARKETPLACE WHEN
THE MARKETPLACE FACILITATOR IS FILING TAX RETURNS WITH THE LOCAL
TAXING JURISDICTION. A LOCAL".

Page 5, line 23, strike "FACILITATOR." and substitute "FACILITATOR THAT HAS
PROVIDED THE MARKETPLACE SELLERS, MULTICHANNEL SELLERS, OR LODGING
SUPPLIERS CONFIRMATION THAT THE MARKETPLACE FACILITATOR IS
RESPONSIBLE FOR REMITTING TAX. NOTHING IN THIS SECTION PROHIBITS A
LOCAL TAXING JURISDICTION FROM AUDITING OR OTHERWISE ASSESSING TAX
AGAINST MARKETPLACE SELLERS, MULTICHANNEL SELLERS, OR LODGING
SUPPLIERS IF THE LOCAL TAXING JURISDICTION HAS NOT PASSED AN APPLICABLE
MARKETPLACE FACILITATOR LAW OR THE MARKETPLACE FACILITATOR HAS
FAILED TO CONFIRM THAT IT REMITS THE TAX.".

Page 5, after line 25 insert:
"(a) "ACCOMMODATIONS INTERMEDIARY" MEANS A MARKETPLACE
FACILITATOR, AS DEFINED IN SECTION 39-26-102 (5.9), WHO FACILITATES THE
SALES OF TRANSIENT LODGING CONSIDERED TO BE A SALE UNDER SECTION
39-26-102 (11) OR A SHORT-TERM RENTAL UNIT.
(b) "LOCAL TAXING JURISDICTION" MEANS ANY LOCAL TAXING
JURISDICTION FOR WHICH THE DEPARTMENT OF REVENUE DOES NOT COLLECT,
ADMINISTER, AND ENFORCE A LOCAL LODGING TAX.
(c) "LODGING SUPPLIER" MEANS AN OPERATOR OF A FACILITY
PROVIDING ROOMS OR ACCOMMODATIONS FOR OVERNIGHT USE FURNISHED TO
ANY PERSON WHO, FOR CONSIDERATION, USES, POSSESSES, OCCUPIES OR HAS THE
RIGHT TO USE, POSSESS, OR OCCUPY ANY SUCH ROOM OR ACCOMMODATION IN
A HOTEL, APARTMENT HOTEL, LODGING HOUSE, MOTEL, MOTOR HOTEL, GUEST
HOUSE, GUEST RANCH, RESORT, MOBILE HOME, MOBILE HOME PARK, AUTO
COURT, INN, TRAILER COURT, TRAILER PARK, HOTEL, OR SHORT-TERM RENTAL
UNDER ANY CONCESSION, PERMIT, LEASE, CONTRACT, OR LICENSE TO USE OR
ANY OTHER SIMILAR ARRANGEMENT.".

Reletter succeeding paragraphs accordingly.


Finance


House Journal, April 4
54 SB24-024 be amended as follows, and as so amended, be referred to
55 the Committee of the Whole with favorable
56 recommendation:
1 Amend reengrossed bill, after "CITY," insert "TOWN, OR CITY AND
2 COUNTY," on: Page 3, lines 17 and 23.
3
4




BILL SB24-025


Sales and Use Tax Simplification Task Force. Under current law, the department of revenue (department) administers, collects, and enforces the local sales or use tax that a statutory local government or a special district imposes and, if requested, administers, collects, and enforces any such tax that a home rule jurisdiction imposes. The statutes that govern the administration, collection, and enforcement of these local sales or use taxes are located in multiple titles of the Colorado Revised Statutes. The bill revises, modernizes, and harmonizes the separate statutes that govern the state administration of local sales or use tax by creating new parts 2 and 3 in article 2 of title 29. In general, the bill makes clear that the department collects, administers, and enforces a local government sales or use tax in the same manner as it collects, administers, and enforces the state sales tax.

The bill:



Status
1/10/2024 Introduced In Senate - Assigned to Finance
1/30/2024 Senate Committee on Finance Witness Testimony and/or Committee Discussion Only
2/15/2024 Senate Committee on Finance Refer Amended to Senate Committee of the Whole
2/21/2024 Senate Second Reading Passed - No Amendments
2/21/2024 Senate Second Reading Passed with Amendments - Committee
2/22/2024 Senate Third Reading Passed - No Amendments
2/22/2024 Introduced In House - Assigned to Finance
4/4/2024 House Committee on Finance Refer Unamended to House Committee of the Whole
4/5/2024 House Second Reading Special Order - Passed - No Amendments
4/8/2024 House Third Reading Passed - No Amendments
4/19/2024 Signed by the President of the Senate
4/22/2024 Signed by the Speaker of the House
4/22/2024 Sent to the Governor
5/1/2024 Governor Signed

Amendment

Senate Journal, February 16
After consideration on the merits, the Committee recommends that SB24-025 be amended
as follows, and as so amended, be referred to the Committee of the Whole with favorable
recommendation.
Amend printed bill, page 5, line 1, strike "29-2-209, 29-2-210, AND 29-2-212,"
and substitute "29-2-209 AND 29-2-211,".

Page 5, line 18, after "PROVIDED," insert "AND EXCEPT FOR A HOME RULE
JURISDICTION'S PARTICIPATION IN RESOLVING DISPUTES AS DESCRIBED IN
SECTION 29-2-208 (2) AND (3),"

Page 5, line 20, strike "ANY" and substitute "THEIR".

Page 6, line 27, strike "JURISDICTION" and substitute "JURISDICTION,
REGARDLESS OF WHETHER THE PROVISIONS OF THE SALES TAX ORDINANCE OF
THE REQUESTING HOME RULE JURISDICTION APPLIES THE SALES TAX TO THE
EXEMPTIONS LISTED IN SECTION 29-2-105 (1)(d)(I),".

Page 7, line 6, after "GOVERNMENTS;" add "AND".

Page 7, line 8, strike "39-26-208; C.R.S. and" and substitute "39-26-208. C.R.S.
and".

Page 7, strike lines 9 and 10 and substitute:

"(c) Whether or not the ordinance applies the sales tax to the
exemptions listed in section 29-2-105 (1)(d)(I).".

Page 9, strike line 7.

Page 9, line 9, strike "BALLOT." and substitute "BALLOT, NO LATER THAN
FOURTEEN DAYS AFTER THE ADOPTION OF THE ORDINANCE OR RESOLUTION.".

Page 10, line 7, before "AFTER" insert "THAT IS AT LEAST FORTY-FIVE DAYS".

Page 10, line 13, strike "GOVERNMENT," and substitute "GOVERNMENT OR
REQUESTING HOME RULE JURISDICTION,".

Page 13, strike line 4 and substitute "of 29-2-106 (3)(a)] The".

Page 13, line 5, strike "at no charge," and substitute "at no charge,".

Page 14, strike lines 10 through 27.

Page 15, strike lines 1 through 6 and substitute:

"(2) (a) IF, IN THE COURSE OF A CASE OR CLAIM ARISING UNDER THIS
PART 2, OR UNDER ARTICLE 21 OF TITLE 39, A TAXPAYER OR THE EXECUTIVE
DIRECTOR ASSERTS THAT ALL OR PART OF A SALES OR USE TAX ASSESSMENT OR
REFUND CLAIM HAS BEEN ERRONEOUSLY PAID TO THE STATE OR TO ANOTHER
STATUTORY LOCAL GOVERNMENT, SPECIAL DISTRICT, OR HOME RULE
JURISDICTION, THEN, SUBJECT TO THE REQUIREMENTS SET FORTH IN SUBSECTION
(2)(b) OF THIS SECTION:
(I) NEITHER THE TAXPAYER NOR THE EXECUTIVE DIRECTOR NEEDS TO
FILE A CLAIM FOR REFUND WITH THE JURISDICTION THAT ERRONEOUSLY
RECEIVED THE SALES OR USE TAX;
(II) THE EXECUTIVE DIRECTOR MAY ORDER PAYMENT FROM THE
JURISDICTION THAT ERRONEOUSLY RECEIVED THE SALES OR USE TAX IN THE
AMOUNT ERRONEOUSLY PAID, WITH INTEREST, IF APPLICABLE, PURSUANT TO
SECTION 39-21-110, TO THE CORRECT JURISDICTION, OR TO THE TAXPAYER, AS
THE CASE MAY BE;
(III) NOTWITHSTANDING SECTION 29-2-209, THE PERIODS OPEN OR
CLOSED TO ASSESSMENT OR REFUND UNDER THE ORDINANCE OR RESOLUTION OF
ANY STATUTORY LOCAL GOVERNMENT, SPECIAL DISTRICT, OR HOME RULE
JURISDICTION; UNDER SECTIONS 39-21-107 (1), 36-26-125, 39-26-210, AND
39-26-703; OR UNDER AN INTERGOVERNMENTAL TRANSFER AGREEMENT MAY
NOT BAR ANY OF THE REMEDIES SET FORTH IN THIS SUBSECTION (2)(a);
(IV) THE TAXPAYER SHALL RECEIVE A CREDIT AGAINST ANY ASSESSED
SALES OR USE TAX DUE UP TO THE AMOUNT ORDERED TO BE PAID BY THE
JURISDICTION THAT ERRONEOUSLY RECEIVED THE SALES OR USE TAX; AND
(V) THE EXECUTIVE DIRECTOR MAY WAIVE, FOR GOOD CAUSE SHOWN,
ANY PENALTIES ASSESSED THEREON, OR ANY INTEREST ASSESSED IN EXCESS OF
THE AMOUNT PAID, IF ANY, BY THE JURISDICTION THAT ERRONEOUSLY RECEIVED
THE SALES OR USE TAX PURSUANT TO SUBSECTION (2)(a)(II) OF THIS SECTION.".

Page 15, line 17, strike "DEPARTMENT" and substitute "STATE".

Page 15, line 20, strike "FUNDS, LESS".

Page 15, strike line 21.
Page 15, line 22, strike "SECTION 39-21-108," and substitute "FUNDS".

Page 16, strike lines 8 through 16 and substitute "VENDOR MAY USE THE GIS
DATABASE AND BE HELD HARMLESS AS DESCRIBED IN SECTION 39-26-105.2
WHEN COLLECTING AND REMITTING SALES OR USE TAX TO THE DEPARTMENT
PURSUANT TO THIS PART 2.".

Page 27, line 19, strike "If" and substitute "EXCEPT AS PROVIDED IN SUBSECTION
(5)(d) OF THIS SECTION, if".

Page 28, strike lines 3 through 8 and substitute "ENTITLED TO THE AUTOMATIC
ABATEMENT OF INTEREST AND PENALTIES DESCRIBED IN THIS SUBSECTION (5)(a)
FOR AN ERROR THAT WOULD NOT HAVE OCCURRED IF THE TAXPAYER HAD USED
THE GIS DATABASE DESCRIBED IN SECTION 39-26-105.2 TO DETERMINE THE TAX
RATE AND THE JURISDICTIONS TO WHICH THE SALES OR USE TAX IS DUE.
NOTHING IN THIS SUBSECTION (5)(a) PROHIBITS A LOCAL GOVERNMENT FROM
WAIVING INTEREST OR PENALTIES FOR GOOD CAUSE SHOWN.".

Page 29, after line 13 insert:
"(d) IF ALL PARTIES TO A HEARING DESCRIBED IN THIS SUBSECTION (5)
ARRIVE AT SETTLEMENT PRIOR TO THE HEARING, THE PARTIES MAY AGREE IN
WRITING TO CANCEL THE HEARING. A LOCAL GOVERNMENT TO WHICH THE
TAXPAYER ASSERTS IT PAID THE SALES OR USE TAX IN ERROR MAY PARTICIPATE
IN A SETTLEMENT CONFERENCE AND AGREEMENT DESCRIBED IN THIS
SUBSECTION (5)(d). AFTER CANCELING THE HEARING, NO PARTY HAS A FURTHER
RIGHT TO A HEARING BEFORE THE EXECUTIVE DIRECTOR AND NEITHER PARTY
MAY APPEAL THE DECISION IN THE MANNER PROVIDED IN SECTION 39-21-105.".

Page 61, line 14, strike "Beginning July 1, 2024, any" and substitute "Beginning
July 1, 2014, Any".

Page 63, line 19, strike "shall" and substitute "shall:".

Page 63, strike lines 20 through 25 and substitute:

"(I) Any district formed prior to or on July 1, 1993, pay in any given
fiscal year commencing on or after July 1, 1994, more than an amount equal to
the amount paid by the district in the 1993-94 fiscal year; as adjusted in
accordance with changes in the consumer price index for the Denver-Boulder
consolidated statistical area DEPARTMENT OF LABOR, BUREAU OF LABOR
STATISTICS CONSUMER PRICE INDEX FOR DENVER-AURORA-LAKEWOOD FOR ALL
ITEMS AND ALL URBAN CONSUMERS, OR ITS APPLICABLE PREDECESSOR OR
SUCCESSOR INDEX;
(II) Any district formed after July 1, 1993, pay in any given fiscal".

Page 66, line 14, strike "levied and collected" and substitute "levied and
collected, ADMINISTERED, AND ENFORCED BY THE EXECUTIVE DIRECTOR OF THE
DEPARTMENT OF REVENUE".

Page 67, strike lines 2 through 5 and substitute "monthly distribution of sales
tax collections to the district PURSUANT TO PART 2 OF ARTICLE 2 OF TITLE 29.
The district shall pay the net incremental cost incurred by the department in the
administration and collection of the sales tax.".

Page 69, line 15, strike "in the" and substitute "in the".

Page 69, strike lines 16 through 22 and substitute: "same manner as that for the
collection, administration, and enforcement of the state sales and use tax
imposed under article 26 of title 39, C.R.S., including, without limitation, the
retention by a vendor of the percentage of the amount remitted to cover the
vendor's expense in the collection and remittance of said tax as provided in
section 39-26-105, C.R.S. The executive director shall make monthly
distributions of such sales and use tax collections to the district PURSUANT TO
PART 2 OF ARTICLE 2 OF TITLE 29. The district shall pay the net incremental".

Page 71, strike line 15 and substitute "(1) and (2) as follows:".

Page 71, strike lines 26 and 27.

Page 72, strike lines 1 through 5 and substitute: "director of the department of
revenue in the same manner as that for the collection, administration, and
enforcement of the state sales tax imposed under article 26 of title 39, C.R.S.,
including, without limitation, the retention by a vendor of the percentage of the
amount remitted to cover the vendor's expense in the collection and remittance
of said tax as provided in section 39-26-105, C.R.S. The executive director shall
make monthly distributions of such sales tax collections to the district.
PURSUANT TO PART 2 OF ARTICLE 2 OF TITLE 29. The".

Page 73, strike lines 3 through 10.

Page 73, line 16, strike "revenue." and substitute "revenue".

Page 73, line 22, strike "district." And substitute "district PURSUANT TO PART
2 OF ARTICLE 2 OF TITLE 29.".

Page 74, line 24, strike "revenue." and substitute "revenue".

Page 75, line 3, strike "district." And substitute "district PURSUANT TO PART 2
OF ARTICLE 2 OF TITLE 29.".

Page 75, line 25, strike "section." and substitute "section".

Page 76, line 2, strike "The" and substitute "The".

Page 76, strike lines 3 and 4 and substitute "executive director shall distribute
sales tax collections to the district monthly PURSUANT TO PART 2 OF ARTICLE 2
OF TITLE 29. The district shall pay the net incremental cost incurred by the".

Page 77, line 7, strike "levied and collected" and substitute "levied and
collected, ADMINISTERED, AND ENFORCED BY THE EXECUTIVE DIRECTOR OF THE
DEPARTMENT OF REVENUE".

Page 77, line 14, strike "revenue." and substitute "revenue".

Page 77, strike lines 19 and 20 and substitute "39-26-105, C.R.S. The executive
director shall make monthly distributions of sales tax collections to the district
PURSUANT TO PART 2 OF ARTICLE 2 OF TITLE 29. The district shall pay".

Page 78, line 16, strike "revenue." And substitute "revenue".

Page 78, strike lines 21 and 22 and substitute "tax as provided in section
39-26-105. The executive director shall make monthly distributions of sales and
use tax collections to the district PURSUANT TO PART 2 OF ARTICLE 2 OF TITLE
29. The".

Page 81, strike lines 10 and 11 and substitute "a station area improvement
district, making improvements, assessing the costs of improvements made
against property, and levying a sales tax".

Page 81, line 15, strike "THE METHOD OF".

Page 81, strike lines 16 and 17 and substitute "ANY SALES TAX ADOPTED
PURSUANT TO THIS SECTION SHALL BE LEVIED IN THE SAME MANNER AS SET
FORTH IN SECTION 30-20-604.5 (1) AND SHALL BE COLLECTED, ADMINISTERED,
AND ENFORCED BY THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF REVENUE
PURSUANT TO PART 2 OF ARTICLE 2 OF TITLE 29.".

Page 82, line 3, strike "revenue." and substitute "revenue".

Page 82, strike lines 8 and 9 and substitute "provided in section 39-26-105,
C.R.S. The executive director shall make monthly distributions of sales tax
collections to the district PURSUANT TO PART 2 OF ARTICLE 2 OF TITLE 29. The
district".

Page 83, line 11, strike "SECTION 29-2-208 (5)(b)," and substitute "SECTION
29-2-208 (2)(a)(III), AND SECTION 29-2-302 (5)(b),".

Page 84, line 14, strike "amend" and substitute "repeal".
Page 84, strike lines 17 through 21 and substitute "(1) (d) (III) If a retailer is
permitted to retain an amount to cover the retailer's expense in collecting and
remitting local sales tax that is the same amount as permitted by the state under
this section, then such amount is the amount that was permitted as of December
31, 2019.".

Page 87, line 12, strike "SECTION 29-2-208 (5)(b);" and substitute "SECTIONS
29-2-208 (2)(a)(III) AND 29-2-302 (5)(b);".

Page 88, line 5, strike "SECTION" and substitute "SECTIONS 29-2-208 (2)(a)(III)
AND".

Page 88, line 27, strike "SECTIONS 39-26-734 (4)(d) AND 29-2-208 (5)(b)," and
substitute "SECTIONS 39-26-734 (4)(d), 29-2-208 (2)(a)(III), AND 29-2-302
(5)(b),".

Page 89, lines 6 and 7, strike "SECTION 29-2-208 (5)(b)," and substitute
"SECTIONS 29-2-208 (2)(a)(III) AND 29-2-302 (5)(b),".

Page 90, line 26, strike "(1)(j)(I)" and substitute "(1)(j)(I)(C)".

Page 91, strike lines 4 through 10 and substitute:

"(i.5) (V) Upon the request of the authority, The executive director of
the department of revenue shall administer and collect, ADMINISTER, AND
ENFORCE the visitor benefit tax authorized by subparagraph (I) of this paragraph
(i.5). If the authority requests that the executive director administer and collect
the tax, the executive director shall make monthly distributions of the tax
collections to the authority. SUBSECTION (1)(i.5)(I) OF THIS SECTION PURSUANT
TO PART 2 OF ARTICLE 2 OF TITLE 29. The".

Page 91, strike lines 24 through 27.

Page 92, strike lines 1 and 2.

Page 94, line 1, strike "29-2-208" and substitute "29-2-207".




BILL SB24-033


Legislative Oversight Committee Concerning Tax Policy. The bill establishes that, for property tax years commencing on or after January 1, 2026, a short-term rental unit, which is an improvement that is designated and used as a place of residency by a person, family, or families, but that is also leased for overnight lodging for less than 30 consecutive days in exchange for a monetary payment (short-term stay) and is not a primary residence, and the land upon which the improvement is located, may be classified as either residential real property or lodging property. If, during the previous property tax year, a short-term rental unit was leased for short-term stays for more than 90 days, then it is classified as lodging property. Otherwise, it is classified as residential real property. Actual value for a short-term rental unit that is classified as lodging property is to be determined solely by application of the market approach to appraisal.

The bill also specifies, with an exception for a property that qualifies as a bed and breakfast, that a building designed for use predominantly as a place of residency by a person, a family, or families but that is actually used, or available for use, to provide short-term stays only is a hotel and motel.

For purposes of applying the classification of either residential or lodging to a short-term rental unit, annually, the assessor is required to send notice to owners of short-term rental units of the number of days during the prior property tax year that the assessor has determined the property was leased for short-term stays. An owner must sign and return the notice and, if the owner disputes the number of days the property was leased for short-term stays, the owner must provide evidence demonstrating a different number of days the property was leased for short-term stays.

Additionally, the property tax administrator is required to establish and administer a pilot program to develop a statewide database and uniform reporting system to track short-term rental units.


(Note: This summary applies to this bill as introduced.)



Status
1/10/2024 Introduced In Senate - Assigned to Finance
4/16/2024 Senate Committee on Finance Postpone Indefinitely


BILL SB24-085


For the state fiscal year beginning July 1, 2026, and for each state fiscal year thereafter through the state fiscal year beginning July 1, 2033, the bill allows a data center business or a data center operator (taxpayer) to claim a rebate for all state sales and use tax that the taxpayer paid for construction materials or data center equipment that is for the construction or operation of an eligible data center.

To be eligible to claim a sales and use tax rebate, a taxpayer is required to obtain certification from the Colorado office of economic development (office) stating that the data center is an eligible data center and that the taxpayer may claim a rebate of state sales and use tax (certification). An "eligible data center" is defined as a data center that creates a specified number of jobs, generates a specified amount of revenue, and requires a specified amount of power. The sales and use tax rebate is allowed only for the sale, storage, or use of construction materials or data center equipment that occurs on or after the date that the taxpayer obtains certification from the office.

When a taxpayer believes that the data center that will be identified in a sales and use tax rebate application satisfies the criteria to be an eligible data center, the taxpayer may apply to the office for the certification. The taxpayer must demonstrate in the certification application that the data center is an eligible data center, and the taxpayer is required to submit any documentation or proof that the office deems necessary to determine whether a data center satisfies the criteria to be an eligible data center.

Before issuing a certification, the office shall provide the application to the Colorado economic development commission (commission) to determine whether the data center satisfies the criteria to be an eligible data center, and the commission shall approve or deny the certification. When approving an application for certification as an eligible data center, the commission may limit a certification by specifying that an eligible data center may claim a rebate only up to a specified dollar amount based on specified economic development priorities. The commission may issue certification for up to 3 data centers to claim a sales and use tax rebate in any fiscal year.

If the commission determines that a data center satisfies the criteria to be an eligible data center, the office is required to notify the department of revenue (department) and issue a certification to the taxpayer.

To claim a sales and use tax rebate, a taxpayer must submit a rebate application and a copy of the certification from the office to the department. A taxpayer is required to submit certain documentation with the application.

The bill allows a taxpayer to assign a certification to specified types of parties after it is awarded.

The bill requires the office and the department to prepare an annual report including information regarding eligible data centers and state sales and use tax rebates allowed. The office is required to submit the report to the finance committees of the house of representatives and senate.


(Note: This summary applies to this bill as introduced.)



Status
1/24/2024 Introduced In Senate - Assigned to Business, Labor, & Technology
4/30/2024 Senate Committee on Business, Labor, & Technology Postpone Indefinitely


BILL SB24-111


For property tax years commencing on or after January 1, 2025, the bill creates a new subclass of residential real property called qualified-senior primary residence real property, which includes residential real property that as of the assessment date is used as the primary residence of an owner-occupier, as defined in the bill, if:

The bill also:

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
2/5/2024 Introduced In Senate - Assigned to Finance
2/27/2024 Senate Committee on Finance Refer Amended to Appropriations
3/15/2024 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole
3/19/2024 Senate Second Reading Passed - No Amendments
3/19/2024 Senate Second Reading Passed with Amendments - Committee
3/20/2024 Senate Third Reading Passed - No Amendments
3/25/2024 Introduced In House - Assigned to Finance
4/18/2024 House Committee on Finance Refer Amended to Appropriations
5/6/2024 House Committee on Appropriations Refer Amended to House Committee of the Whole
5/7/2024 House Second Reading Passed with Amendments - Committee
5/8/2024 House Third Reading Passed - No Amendments
5/8/2024 Senate Considered House Amendments - Result was to Concur - Repass
5/10/2024 Sent to the Governor
5/10/2024 Signed by the President of the Senate
5/10/2024 Signed by the Speaker of the House
5/14/2024 Governor Signed

Amendment

Senate Journal, February 28
After consideration on the merits, the Committee recommends that SB24-111 be amended
as follows, and as so amended, be referred to the Committee on Appropriations with
favorable recommendation.
Amend printed bill, page 4, line 15, strike "ONE HUNDRED THOUSAND DOLLARS"
and substitute "FIFTY PERCENT OF THE FIRST TWO HUNDRED THOUSAND
DOLLARS OF THAT ACTUAL VALUE".
Page 7, line 25, after "QUALIFIED FOR" insert "AND RECEIVED".

Page 9, line 7, strike "REAL" and substitute "A UNIT OF REAL".

Page 9, line 8, strike "THAT CONTAINS A UNIT" and substitute "AND".

Page 17, lines 5 and 6, strike "OCTOBER 10, 2025, AND OCTOBER 10" and
substitute "SEPTEMBER 10, 2025, AND SEPTEMBER 10".

Page 19, line 2, strike "AN APPLICATION" and substitute "A WRITTEN PROTEST".


Local
Government
& Housing

House Journal, April 19
15 SB24-111 be amended as follows, and as so amended, be referred to
16 the Committee on Appropriations with favorable
17 recommendation:
18
19 Amend reengrossed bill, strike "2016" and substitute "2020" on: Page 8,
20 line 2; and Page 10, line 11.
21
22

House Journal, May 6
1 SB24-111 be amended as follows, and as so amended, be referred to
2 the Committee of the Whole with favorable
3 recommendation:
4
5 Amend reengrossed bill, page 4, line 11, after "2025," insert "BUT BEFORE
6 JANUARY 1, 2027,".
7
8 Page 20, line 20, strike "1 OF EACH YEAR THEREAFTER," and substitute "1,
9 2027,".
10
11 Page 22, line 26, strike "EACH APRIL 15 THEREAFTER," and substitute
12 "APRIL 15, 2027,".
13
14 Page 24, line 6, after "2025," insert "BUT BEFORE JANUARY 1, 2027,".
15
16 Page 24, line 16, after "2025," insert "BUT BEFORE JANUARY 1, 2027,".
17
18




BILL SB24-114


The bill establishes a refundable state income tax credit for parental engagement in schools for income tax years commencing on or after January 1, 2025, but before January 1, 2030, that allows a taxpayer who is a parent, guardian, or legal custodian (taxpayer) to claim a credit when the taxpayer volunteers in the school of the taxpayer's child. Taxpayers are allowed a credit of $20 for each volunteer hour, up to $500.

An eligible school includes a school of a school district, a district charter school, an institute charter school, or a board of cooperative services at which the percentage of students receiving free or reduced-cost lunch under the national school lunch program equals at least 40%.

An eligible school shall issue a credit certificate to any taxpayer who volunteers in the school. The credit certificate allows the taxpayer to claim a credit with respect to the income taxes imposed by the state. To claim a credit, the taxpayer must submit the credit certificate to the department of revenue (department) with the taxpayer's income tax return for the income tax year for which a credit is claimed. The amount of the credit that exceeds the taxpayer's income taxes due is refunded to the taxpayer.

The bill encourages eligible schools to promote the credit to parents at the start of each school year and to provide volunteer opportunities throughout the year to accommodate parent schedules and interests.

The bill requires the Colorado state advisory council for parent involvement in education (council) to develop marketing materials to promote the credit to parents. The council shall conduct training sessions to instruct eligible schools on how to implement and manage a volunteer program to align with the credit. The training sessions must use best practices for parental engagement. On or before May 1, 2026, the council shall create and distribute a statewide parental engagement feedback survey (survey) to solicit and collect parental engagement feedback from parents. The purpose of the survey is to measure parental engagement participation and to determine whether parental engagement provides support to eligible schools.

At the end of each school year through 2030, eligible schools are required to solicit feedback, using the council's survey, from parents concerning volunteer experiences. On or before July 1, 2026, and each July 1 thereafter through July 1, 2030, eligible schools shall submit the survey data to the school districts. On or before October 1, 2026, and each October 1 thereafter through October 1, 2030, school districts shall report the survey data to the department of education.

The bill requires the department of education to submit an annual report summarizing the survey data reported by the school districts to the department on February 15, 2027, and each February 15 thereafter through February 15, 2031, to the state auditor, the education committees of the house of representatives and the senate, or their successor committees, and the finance committees of the house of representatives and the senate, or their successor committees.

The bill repeals the state income tax credit, effective July 1, 2033.


(Note: This summary applies to this bill as introduced.)



Status
2/5/2024 Introduced In Senate - Assigned to Finance
2/22/2024 Senate Committee on Finance Postpone Indefinitely


BILL SB24-126


Under current law, the conservation easement oversight commission (commission) and the certified holder program (program) are repealed on July 1, 2026. The bill eliminates the repeal dates to extend the commission and program indefinitely.

The bill replaces a nonvoting member of the commission who represents the great outdoors Colorado trust fund (GOCO) with a voting member who represents GOCO and who is appointed by and serves at the pleasure of the executive director of GOCO. The bill also adds a voting member appointed by the governor who represents a socially disadvantaged farmer or rancher as defined in federal law . The bill provides that a conservation easement tax credit (credit) is not available after December 31, 2031, except for credits created on or before December 31, 2031, and subsequently transferred or carried over as a credit in other tax years. There is currently a cap of $45 million for the total value of conservation easement income tax credits that may be claimed by and credited to donors of a conservation easement (easement) in one calendar year. The bill increases the cap to $60 million in calendar year 2025, to $70 million in calendar year 2026, and to $75 million in each subsequent calendar year . Currently, credits filed after the cap is reached are placed on a wait list for the next calendar year. The bill provides that credits filed after the cap is reached are placed in a priority system of allocation based on the date the application for the credit was filed, the completeness of the application, and whether the application is approved. Earlier filed credits take precedence over later filed credits. Credits for easements donated in a prior year are eligible for tax credit certificates in subsequent years in order of application . Current law provides that partnerships, S corporations, or other similar entities (pass-through entities) may not be transferees of a credit. The bill allows pass-through entities to be transferees of a credit beginning on January 1, 2025. The bill also allows insurance companies to purchase credits to offset insurance premium taxes. Currently, a credit may be transferred once, in whole or in part, from a donor to a transferee. The bill allows a transferee to transfer a credit to a subsequent transferee beginning with the income tax year starting on January 1, 2025. Current law provides that a taxpayer may claim 90% of the fair market value of the donated portion of the easement. The bill provides that on or after January 1, 2027, a taxpayer may only claim 80% of the fair market value of the donated portion of the easement. Credits may be issued in increments of no more than $1.5 million per year. Currently, the total aggregate amount of the credit that may be refunded to the owners, partners, and shareholders of an entity donating an easement may not exceed $50,000 for that income tax year. The bill provides that such a refund may not exceed $200,000 for income tax years beginning on or after January 1, 2027. Current law allows a taxpayer to elect to claim a refund from the donation of an easement only in a year for which the state controller certifies that the amount of state revenues for the fiscal year ending in the income tax year for which the refund is claimed exceeds the limitation on state fiscal year spending for that fiscal year. The bill eliminates the requirement that to claim the credit, allowable revenues must exceed allowable spending. The bill requires a conservation easement granted on or after January 1, 2025, to include a provision that, subject to specified requirements, allows the holder to approve expanded wind or solar energy facilities that are compatible with and do not impair conservation values.

For the 2024-25 state fiscal year, $12,925 is appropriated from the conservation cash fund to the department of regulatory agencies for use by the division of conservation.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
2/6/2024 Introduced In Senate - Assigned to Agriculture & Natural Resources
2/22/2024 Senate Committee on Agriculture & Natural Resources Refer Amended to Finance
3/5/2024 Senate Committee on Finance Refer Amended to Appropriations
4/16/2024 Senate Committee on Appropriations Refer Amended - Consent Calendar to Senate Committee of the Whole
4/16/2024 Senate Second Reading Special Order - Passed with Amendments - Committee
4/17/2024 Senate Third Reading Passed - No Amendments
4/17/2024 Introduced In House - Assigned to Agriculture, Water & Natural Resources
4/22/2024 House Committee on Agriculture, Water & Natural Resources Refer Amended to Finance
4/29/2024 House Committee on Finance Refer Amended to Appropriations
5/6/2024 House Committee on Appropriations Refer Amended to House Committee of the Whole
5/6/2024 House Second Reading Special Order - Passed with Amendments - Committee
5/7/2024 House Third Reading Passed - No Amendments
5/8/2024 Senate Considered House Amendments - Result was to Concur - Repass
5/13/2024 Signed by the Speaker of the House
5/13/2024 Signed by the President of the Senate
5/13/2024 Sent to the Governor
5/20/2024 Governor Signed

Amendment

Senate Journal, February 22
After consideration on the merits, the Committee recommends that SB24-126 be amended
as follows, and as so amended, be referred to the Committee on Finance with favorable
recommendation.
Amend printed bill, page 2, after line 1 insert:

"SECTION 1. Legislative declaration. (1) The general assembly
hereby finds and declares that:
(a) Over the last sixty years, Colorado families have conserved over
three million three hundred thousand acres of working farms, ranches, and
private lands across the state;
(b) Since 2000, Colorado has proactively invested in conservation
through the conservation easement tax credit program;
(c) The conservation easement tax credit program incentivizes private
landowners to voluntarily protect their properties, which creates public benefits
to Colorado's lands, waters, wildlife, and people.
(d) The benefits of conservation are unique and wide-ranging.
Conservation has contributed significantly to the protection of wildlife habitat,
critical wetlands, urban open space, and working farms and ranches.
(e) The conservation easement tax credit program has aided Colorado
in reducing its carbon emissions and accomplishing its biodiversity goals, while
supporting rural economic resiliency, benefiting all Coloradans;
(f) In pursuit of greater equity in conservation, it is crucial to enhance
programs that promote public benefits for all Coloradans; and
(g) Equity in conservation requires ongoing collaboration with private
landowners, state and federal public land managers, and counties and
municipalities. Underscoring and investing in the inclusion of underserved
communities, tribes, and historically marginalized land interests will further
amplify these efforts.
(2) Therefore, it is in the best interests of Coloradans to enhance the
conservation easement tax credit program.".

Renumber succeeding sections.

Page 2 , line 2, after "12-15-103," insert "amend (1) introductory portion, (1)(d)
introductory portion, (1)(d)(I), and (I)(d)(II);" and strike "(8)" and substitute,
"(1)(a) and (8); add (I)(d)(III) and (I)(d)(IV)".
Page 2, strike line 5 and substitute "created. (1) There is created in the division
a conservation easement oversight commission, referred to in this article 15 as
the "commission". The commission is a type 2 entity, as defined in section
24-1-105, and exercises its powers and performs its duties and functions under
the division. The commission consists of eight NINE members as follows:
(a) One member representing the great outdoors Colorado program,
appointed by and serving as an advisory, nonvoting member at the pleasure of
the state board of the great outdoors Colorado trust fund established in article
XXVII of the state constitution;
(d) Three FIVE voting members appointed by the governor as follows:
(I) Two voting representatives of certified conservation easement
holders; and
(II) A voting individual who is competent and qualified to analyze the
conservation purpose of conservation easements; and
(III) A VOTING INDIVIDUAL WHO MEETS THE DEFINITION OF "SOCIALLY
DISADVANTAGED FARMER OR RANCHER" IN 7 U.S.C. SEC. 2279; AND
(IV) A VOTING INDIVIDUAL WHO REPRESENTS GREAT OUTDOORS
COLORADO; AND
(8) This section is repealed, effective July 1, 2026.".

Page 3, line 5, strike "(2.5);" and substitute "(2.5) and (4)(a)(II.7);".

Page 3, line 5, strike "(1)(c), (7.3) and".

Page 3, strike line 7 and substitute "definitions.".

Page 3, strike lines 8 through 17.

Page 3, line 24, strike "The division shall issue a".

Page 3, strike line 25 and substitute: "The division shall issue a certificate for
the claims received in the order submitted. THE DIVISION OF CONSERVATION IN
THE DEPARTMENT OF REGULATORY AGENCIES MUST PRIORITIZE AND ISSUE TAX
CREDIT CERTIFICATES IN THE ORDER IN WHICH IT RECEIVES CLAIMS. THE
DIVISION OF CONSERVATION MUST STAMP EACH CLAIM WITH THE DATE AND
TIME IT RECEIVES THE CLAIM AND SHALL REVIEW A CLAIM ON THE BASIS OF THE
ORDER IN WHICH THE CLAIM WAS SUBMITTED BY DATE AND TIME. DISAPPROVED
CLAIMS LOSE THEIR PRIORITY IN THE REVIEW PROCESS. After certificates".

Page 4, line 7, strike "certificates in excess of the amounts".

Page 4, strike lines 8 and 9.

Page 4, line 10, strike "year." and substitute "certificates. in excess of the
amounts specified in this subsection (2.5); except that no more than fifteen
million dollars in claims shall be placed on the wait list in any given calendar
year".

Page 4, after line 19 insert:

"(4) (a) (II.7) For a conservation easement in gross created in
accordance with article 30.5 of title 38 that is donated on or after January 1,
2021, to a governmental entity or a charitable organization described in section
38-30.5-104 (2), the credit provided for in subsection (2) of this section is an
amount equal to ninety percent of the fair market value of the donated portion
of such conservation easement in gross when created; except that in no case
shall the credit exceed five million dollars per donation. Credits shall be issued
in increments of no more than one million five hundred thousand dollars per
year. Credits for easements donated in a prior year are eligible for tax credit
certificates in subsequent years in order of application PRIORITY and before new
applications. and those credit applications, if any, on the wait list".

Page 4, strike lines 20 through 27.

Strike page 5.

Page 6, strike lines 1 through 10.
Finance


Senate Journal, March 6
After consideration on the merits, the Committee recommends that SB24-126 be amended
as follows, and as so amended, be referred to the Committee on Appropriations with
favorable recommendation.
Amend the Agriculture and Natural Resources Committee Report, dated
February 22, 2024, page 2, line 3, after "portion," insert "(1)(a),".

Page 2 of the report, line 4, strike "(1)(d)(I), and (I)(d)(II);"" and substitute "and
(1)(d)(I);"".

Page 2 of the report, strike line 5 and substitute "substitute "(8); and add
(1)(d)(III)".".

Page 2 of the report, line 15, after "constitution;" add "ONE VOTING MEMBER
REPRESENTING THE GREAT OUTDOORS COLORADO TRUST FUND, APPOINTED BY
AND SERVING AT THE PLEASURE OF THE EXECUTIVE DIRECTOR OF THE STATE
BOARD OF THE GREAT OUTDOORS COLORADO TRUST FUND;".
Page 2 of the report, line 16, strike "FIVE" and substitute "FOUR".

Page 2 of the report, line 21, strike "and" and substitute "and".

Page 2 of the report, line 23, strike "2279;" and substitute "2279.".

Page 2 of the report, strike lines 24 through 27 and substitute:

"(8) This section is repealed, effective July 1, 2026 JULY 1, 2033."

Page 2 of the report, strike line 28 and substitute "Page 3, line 5, strike "(2.5);"
and substitute "(2)(a), (2)(b), (2.5), (4)(a)(II.7), and (7.5)(a);".


Page 3 of the bill, after line 17 insert:

"(2) (a) For income tax years commencing on or after January 1, 2000,
but prior to January 1, 2014, and, with regard to any credit over the amount of
one hundred thousand dollars, for income tax years commencing on or after
January 1, 2003, BUT BEFORE JANUARY 1, 2033, subject to the provisions of
subsections (4) and (6) of this section, there shall be allowed a credit with
respect to the income taxes imposed by this article to each taxpayer who
donates during the taxable year all or part of the value of a perpetual
conservation easement in gross created pursuant to article 30.5 of title 38.
C.R.S. upon real property the taxpayer owns to a governmental entity or a
charitable organization described in section 38-30.5-104 (2). C.R.S. The credit
shall only be allowed for a donation that is eligible to qualify as a qualified
conservation contribution pursuant to section 170 (h) of the internal revenue
code, as amended, and any federal regulations promulgated in connection with
such section. The amount of the credit shall not include the value of any portion
of an easement on real property located in another state.
(b) For income tax years commencing on or after January 1, 2014, BUT
BEFORE JANUARY 1, 2033, and, with regard to any credit over the amount of one
hundred thousand dollars, for income tax years commencing on or after January
1, 2003, BUT BEFORE JANUARY 1, 2033, subject to the provisions of subsections
(4) and (6) of this section, there shall be allowed a credit with respect to the
income taxes imposed by this article to each taxpayer who donates during the
taxable year all or part of the value of a perpetual conservation easement in
gross created pursuant to article 30.5 of title 38. C.R.S. upon real property the
taxpayer owns to a governmental entity or a charitable organization described
in section 38-30.5-104 (2). C.R.S. The credit shall only be allowed for a
donation that meets the requirements of section 170 of the federal "Internal
Revenue Code of 1986", as amended, and any federal regulations promulgated
in accordance with such section. The amount of the credit shall not include the
value of any portion of an easement on real property located in another state.".

Page 3 of the bill, line 20, after "2011," insert "BUT BEFORE JANUARY 1, 2033,".

Page 4 of the bill, lines 3 and 4, strike "CALENDAR YEAR THEREAFTER," and
substitute "OF THE 2025 TO 2032 CALENDAR YEARS,".

Page 3 of the report, line 25, strike "application PRIORITY" and substitute
"application".
Page 6 of the bill, after line 10 insert:

"(7.5) (a) For income tax years commencing on or after January 1,
2021, BUT BEFORE JANUARY 1, 2033, in lieu of a credit with respect to the
income taxes imposed by this article 22, there is allowed a transferable expense
amount to each qualified entity that donates during the taxable year all or part
of the value of a perpetual conservation easement in gross created pursuant to
article 30.5 of title 38 upon real property the qualified entity owns to a
governmental entity or a charitable organization described in section
38-30.5-104 (2). A transferable expense amount shall be treated in all manners
as a tax credit for purposes of this section, including provisions governing the
amount, valuation, and transfer of a tax credit; except that the transferable
expense amount may only be transferred to a transferee to be claimed by the
transferee as a credit pursuant to this section. A qualified entity may transfer a
transferable expense amount to be claimed as a credit by a transferee pursuant
to this section regardless of whether the qualified entity receives value in
exchange for the transfer.".

Page 6 of the bill, after line 23, insert: "(13) THIS SECTION IS REPEALED,
EFFECTIVE JANUARY 1, 2053.".

Senate Journal, April 16
After consideration on the merits, the Committee recommends that SB24-126 be amended
as follows, and as so amended, be referred to the Committee of the Whole with favorable
recommendation and with a recommendation that it be placed on the Consent Calendar.
Amend printed bill, page 2, line 2, strike "repeal (8)" and substitute "amend (1)
introductory portion, (1)(a), (1)(d) introductory portion, and (1)(d)(I); repeal
(8); and add (1)(d)(III)".

Page 2 of the bill, after line 9 insert:
"SECTION 3. In Colorado Revised Statutes, 12-15-105, amend (1)(c)
and (3) as follows:
12-15-105. Conservation easement tax credit certificates - rules.
(1) The division shall receive tax credit certificate applications from and issue
certificates to landowners for income tax credits for conservation easements
donated on or after January 1, 2011, in accordance with section 39-22-522 (2.5)
and this article 15. Nothing in this section restricts or limits the authority of the
division to enforce this article 15. The division may promulgate rules in
accordance with article 4 of title 24 for the issuance of the certificates. In
promulgating rules, the division may include provisions governing:
(c) The notification to the public regarding the aggregate amount of tax
credit certificates that have been issued and that are on the wait list pursuant to
section 39-25-522 (2.5);
(3) The division shall not issue tax credit certificates that in aggregate
exceed the limit set forth in section 39-22-522 (2.5) during a particular calendar
year. THE DIVISION MAY ISSUE MULTIPLE TAX CREDIT CERTIFICATES FOR A
SINGLE CONSERVATION EASEMENT AS REQUIRED BY SECTION 39-22-522.
SECTION 4. In Colorado Revised Statutes, 12-15-106, amend (10) as
follows:
12-15-106. Conservation easement tax credit certificate application
process - definitions - rules. (10) If the director and the commission do not
identify any potential deficiencies with an application, the director and the
commission shall approve the application, and the division shall issue a tax
credit certificate to the landowner pursuant to section 12-15-105 in a timely
manner so that the number of days between the date a completed application is
received by the division and the date the tax credit certificate is issued does not
exceed one hundred twenty days. Once a tax credit certificate is issued, the
landowner may claim and use the tax credit subject to any other applicable
procedures and requirements under title 39. THE DEADLINE PRESCRIBED BY THIS
SUBSECTION (10) MAY BE EXTENDED UPON MUTUAL AGREEMENT OF THE
DIRECTOR, THE COMMISSION, AND THE LANDOWNER.".

Renumber succeeding sections accordingly.

Page 3 of the bill, strike line 5 and substitute "(2)(a), (2)(b), (2.5), (4)(a)(II.7),
(4)(b)(II)(D), (5)(b)(III), and (7.5)(a); repeal (5)(b)(II); and add (1)(c),
(4)(a)(II.8), (4)(b)(II)(E), and (12) as follows:".

Page 4 of the bill, line 3, after "YEARS," insert "SIXTY MILLION DOLLARS FOR
THE 2025 CALENDAR YEAR, SEVENTY MILLION DOLLARS FOR THE 2026
CALENDAR YEAR,".

Page 4 of the bill, strike lines 5 through 9.

Page 4 of the bill, line 10, strike "year." and substitute "calendar year shall be
placed on a wait list in the order submitted and a certificate shall be issued for
use of the credit in the next year for which the division has not issued credit
certificates in excess of the amounts specified in this subsection (2.5). except
that no more than fifteen million dollars in claims shall be placed on the wait
list in any given calendar year.".

Page 4 of the bill, line 14, after "YEARS," insert "SIXTY MILLION DOLLARS FOR
THE 2025 CALENDAR YEAR, SEVENTY MILLION DOLLARS FOR THE 2026
CALENDAR YEAR,".

Amend the Agriculture and Natural Resources Committee Report, dated
February 22, 2024, page 2, strike lines 3 through 5.

Page 2 of the Agriculture and Natural Resources report, strike lines 20 and 21.

Page 2 of the Agriculture and Natural Resources report, strike lines 28 and 29.

Page 2 of the Agriculture and Natural Resources report, line 34, strike "OF".

Page 3 of the Agriculture and Natural Resources report, strike lines 1 through
7 and substitute "MUST PRIORITIZE TAX CREDIT APPLICATIONS IN THE ORDER
RECEIVED. THE DIVISION MUST ASSIGN EACH APPLICATION WITH THE DATE AND
TIME RECEIVED BASED ON THE ORDER IN WHICH A COMPLETED APPLICATION WAS
SUBMITTED PURSUANT TO SECTION 12-15-106 (5). INCOMPLETE APPLICATIONS
DO NOT GET PRIORITY IN THE REVIEW PROCESS. DISAPPROVED APPLICATIONS
LOSE THEIR PRIORITY IN THE REVIEW PROCESS. After certificates".".

Page 3 of the Agriculture and Natural Resources report, strike lines 8 through
13.

Page 3 of the Agriculture and Natural Resources report, strike lines 15 through
26 and insert:
""(4) (a) (II.7) For a conservation easement in gross created in
accordance with article 30.5 of title 38 that is donated on or after January 1,
2021, to a governmental entity or a charitable organization described in section
38-30.5-104 (2), the credit provided for in subsection (2) of this section is an
amount equal to:
(A) FOR CONSERVATION EASEMENTS DONATED ON OR AFTER JANUARY
1, 2021, BUT BEFORE JANUARY 1, 2027, ninety percent of the fair market value
of the donated portion of such conservation easement in gross when created;
except that in no case shall the credit exceed five million dollars per donation;
Credits shall be issued in increments of no more than one million five hundred
thousand dollars per year. Credits for easements donated in a prior year are
eligible for tax credit certificates in subsequent years in order of application and
before new applications and those credit applications, if any, on the wait list
AND
(B) FOR CONSERVATION EASEMENTS DONATED ON OR AFTER JANUARY
1, 2027, BUT BEFORE JANUARY 1, 2032, EIGHTY PERCENT OF THE FAIR MARKET
VALUE OF THE DONATED PORTION OF SUCH CONSERVATION EASEMENT IN GROSS
WHEN CREATED; EXCEPT THAT IN NO CASE SHALL THE CREDIT EXCEED FIVE
MILLION DOLLARS PER DONATION.
(II.8) CREDITS SHALL BE ISSUED IN INCREMENTS OF NO MORE THAN ONE
MILLION FIVE HUNDRED THOUSAND DOLLARS PER YEAR. CREDITS FOR
EASEMENTS DONATED IN A PRIOR YEAR ARE ELIGIBLE FOR TAX CREDIT
CERTIFICATES IN SUBSEQUENT YEARS IN ORDER OF APPLICATION.
(b) (II) (D) For income tax years commencing on or after January 1,
2015, BUT BEFORE JANUARY 1, 2027, the total aggregate amount of the credit
allocated to such owners, partners, members, and shareholders shall not exceed
five million dollars, and, if any refund is claimed pursuant to subsection
(5)(b)(I) of this section, the aggregate amount of the refund and the credit
claimed by such owners, partners, members, and shareholders shall not exceed
fifty thousand dollars for that income tax year.
(E) FOR INCOME TAX YEARS COMMENCING ON OR AFTER JANUARY 1,
2027, BUT BEFORE JANUARY 1, 2032, THE TOTAL AGGREGATE AMOUNT OF THE
CREDIT ALLOCATED TO SUCH OWNERS, PARTNERS, MEMBERS, AND
SHAREHOLDERS SHALL NOT EXCEED FIVE MILLION DOLLARS, AND, IF ANY
REFUND IS CLAIMED PURSUANT TO SUBSECTION (5)(b)(I) OF THIS SECTION, THE
AGGREGATE AMOUNT OF THE REFUND AND THE CREDIT CLAIMED BY SUCH
OWNERS, PARTNERS, MEMBERS, AND SHAREHOLDERS SHALL NOT EXCEED TWO
HUNDRED THOUSAND DOLLARS FOR THAT INCOME TAX YEAR.
(5) (b) (II) A taxpayer may elect to claim a refund pursuant to
subparagraph (I) of this paragraph (b) only if, based on the financial report
prepared by the controller in accordance with section 24-77-106.5, C.R.S., the
controller certifies that the amount of state revenues for the state fiscal year
ending in the income tax year for which the refund is claimed exceeds the
limitation on state fiscal year spending imposed by section 20 (7)(a) of article
X of the state constitution and the voters statewide either have not authorized
the state to retain and spend all of the excess state revenues or have authorized
the state to retain and spend only a portion of the excess state revenues for that
fiscal year.
(III) If any refund is claimed pursuant to subsection (5)(b)(I) of this
section, then the aggregate amount of the refund and amount of the credit used
as an offset against income taxes, excluding amounts transferred to or used by
a transferee, for that income tax year shall not exceed fifty thousand dollars for
that income tax year FOR INCOME TAX YEARS COMMENCING BEFORE JANUARY
1, 2027, AND SHALL NOT EXCEED TWO HUNDRED THOUSAND DOLLARS FOR THAT
INCOME TAX YEAR FOR INCOME TAX YEARS COMMENCING ON OR AFTER
JANUARY 1, 2027, BUT BEFORE JANUARY 1, 2032. In the case of a partnership,
S corporation, or other similar pass-through entity that donates a conservation
easement as an entity, if any refund is claimed pursuant to subsection (5)(b)(I)
of this section, the aggregate amount of the refund and the credit claimed by the
partners, members, or shareholders of the entity shall not exceed the dollar
limitation set forth in this subsection (5)(b)(III) for that income tax year.
Nothing in this subsection (5)(b)(III) shall limit a taxpayer's ability to claim a
credit against taxes due in excess of fifty thousand dollars FOR TAX YEARS
COMMENCING BEFORE JANUARY 1, 2027, AND TWO HUNDRED THOUSAND
DOLLARS FOR TAX YEARS COMMENCING ON OR AFTER JANUARY 1, 2027, BUT
BEFORE JANUARY 1, 2032, in accordance with subsection (4) of this section.".".

Amend the Finance Committee Report, dated March 5, 2024, page 1, strike line
13.

Page 1 of the Finance report, strike line 16 and substitute:
""(8) This section is repealed, effective July 1, 2026.".".

Page 1 of the Finance report, strike lines 17 and 18 and substitute:

"Page 2 of the report, strike lines 28 and 29 and substitute:

"Page 3 of the bill, strike line 5 and substitute "(2)(a), (2)(b), (2.5), (4)(a)(II.7),
and (7.5)(a); and add (12), (13), and (14) as follows:".".

Page 2 of the Finance report, line 37, strike "2032" and substitute "2031".

Page 3 of the Finance report, after line 17 insert:

"Page 6 of the bill, after line 23 insert:

"(13) TO BE ELIGIBLE FOR THE TAX CREDIT, FOR ANY CONSERVATION
EASEMENT GRANTED ON OR AFTER JANUARY 1, 2025, THE CONSERVATION
EASEMENT SHALL INCLUDE A PROVISION PROVIDING THAT IF TECHNOLOGICAL
OR LEGAL CHANGES ALLOW AN EXPANDED USE OF WIND, SOLAR POWER
GENERATION, TRANSMISSION, AND STORAGE TO BE COMPATIBLE WITH THE
PROTECTION OF CONSERVATION VALUES CONSIDERED AS A WHOLE AND
PURSUANT TO SECTION 170(h) OF THE INTERNAL REVENUE CODE AND ANY
FEDERAL REGULATIONS PROMULGATED IN CONNECTION WITH SUCH SECTION,
THEN THE HOLDER OF THE CONSERVATION EASEMENT MAY APPROVE EXPANDED
WIND OR SOLAR ENERGY FACILITIES THAT ARE COMPATIBLE WITH AND DO NOT
DIMINISH OR IMPAIR CONSERVATION VALUES.".".

Page 3 of the Finance report, line 18, strike "(13)" and substitute "(14)".

Page 3 of the Finance report, line 19, strike "2053."." and substitute "2052.".".

Strike "2033," and substitute "2032," on: Page 2, lines 5, 19, 21, and 35; and
Page 3, line 3 of the Finance report.

Page 6 of the bill, before line 24 insert:

"SECTION 5. Appropriation. For the 2024-25 state fiscal year,
$12,925 is appropriated to the department of regulatory agencies for use by the
division of conservation. This appropriation is from the conservation cash fund
created in section 12-15-107, C.R.S., and is based on an assumption that the
division will require an additional 0.2 FTE. To implement this act, the division
may use this appropriation for conservation easement program costs.".

Renumber succeeding section accordingly.

Page 1 of the bill, page 1, line 106, strike "AND".

Page 1 of the bill, line 108, strike "CREDITS." and substitute "CREDITS, AND
MAKING AN APPROPRIATION.".


Appro-
priations


House Journal, April 23
33 SB24-126 be amended as follows, and as so amended, be referred to
34 the Committee on Finance with favorable
35 recommendation:
36
37 Amend reengrossed bill, page 6, line 5, after "(4)(b)(II)(D)," insert
38 "(5)(b)(II),".
39
40 Page 6, line 6, strike "repeal (5)(b)(II);".
41
42 Page 8, line 9, strike "2025" and substitute "2027".
43
44 Page 8, line 26, strike "a" and substitute "a THE".
45
46 Page 8, line 27, after "issued." add "IN THE CASE OF A TAX CREDIT
47 CERTIFICATE ISSUED TO A TAXPAYER WHO FILES AN INCOME TAX RETURN
48 FOR A TAX YEAR OTHER THAN A CALENDAR YEAR, THE CREDIT MUST BE
49 USED IN THE INCOME TAX YEAR THAT BEGINS DURING THE CALENDAR
50 YEAR FOR WHICH THE TAX CREDIT CERTIFICATE IS ISSUED.".
51
52 Page 10, strike lines 13 through 22 and substitute:
53
1 "(5) (b) (II) (A) BEFORE JANUARY 1, 2027, a taxpayer may elect
2 to claim a refund pursuant to subparagraph (I) of this paragraph (b)
3 SUBSECTION (5)(b)(I) OF THIS SECTION only if, based on the financial
4 report prepared by the controller in accordance with section 24-77-106.5,
5 C.R.S., the controller certifies that the amount of state revenues for the
6 state fiscal year ending in the income tax year for which the refund is
7 claimed exceeds the limitation on state fiscal year spending imposed by
8 section 20 (7)(a) of article X of the state constitution and the voters
9 statewide either have not authorized the state to retain and spend all of the
10 excess state revenues or have authorized the state to retain and spend only
11 a portion of the excess state revenues for that fiscal year.
12 (B) THIS SUBSECTION (5)(b)(II) IS REPEALED, EFFECTIVE
13 DECEMBER 31, 2031.".
14
15 Page 11, line 3, strike "2027, BUT" and substitute "2027.".
16
17 Page 11, line 4, strike "BEFORE JANUARY 1, 2032.".
18
19 Page 12, line 11, strike "ON ITS CALENDAR".
20
21 Page 12, strike line 12.
22
23 Page 12, line 13, strike "SECTION 10-3-209".
24
25 Strike "BUT BEFORE JANUARY 1, 2032," on: Page 7, line 18; Page 9, line
26 16; Page 10, line 6; and Page 11, lines 14 and 18.
27
28

House Journal, April 29
53 SB24-126 be amended as follows, and as so amended, be referred to
54 the Committee on Appropriations with favorable
55 recommendation:
1 Amend reengrossed bill, page 12, strike line 19 and substitute:
2
3 "(13) FOR ANY".
4
5 Page 12, line 21, strike "SHALL" and substitute "MAY".
6
7 Page 12, strike line 23 and substitute "WIND AND SOLAR POWER
8 GENERATION, TRANSMISSION, AND STORAGE TO BE".
9
10 Page 13, line 1, strike "MAY" and substitute "MAY, IN ITS SOLE
11 DISCRETION," and strike "OR" and substitute "AND".
12
13 Page 13, strike line 2 and substitute "POWER GENERATION, TRANSMISSION,
14 OR STORAGE THAT IS COMPATIBLE WITH AND DOES NOT DIMINISH OR".
15
16

House Journal, May 6
24 SB24-126 be amended as follows, and as so amended, be referred to
25 the Committee of the Whole with favorable
26 recommendation:
27
28 Amend the Agriculture, Water and Natural Resources Committee Report,
29 dated April 22, 2024, page 1, strike line 4 and substitute:
30
31 "Page 8 of the reengrossed bill, line 7, strike "SIXTY MILLION DOLLARS
32 FOR THE 2025".
33
34 Page 8 of the bill, strike line 8.
35
36 Page 8 of the bill, line 9, strike "YEAR," and strike "SEVENTY-FIVE" and
37 substitute "FIFTY".
38
39 Page 8 of the bill, strike lines 20 through 22 and substitute "YEARS, AND
40 FIFTY MILLION DOLLARS FOR EACH OF THE 2025 THROUGH 2031 CALENDAR
41 YEARS. No claim for".".
42
43