C.R.S. § 39-22-5104 — CO Code / Title 39 / Article 22 / Part 51 / Section 39-22-5104
39-22-5104. Contributions credited to the donate to a Colorado nonprofit fund - creation - a
Status: in_force

39-22-5104. Contributions credited to the donate to a Colorado nonprofit fund - creation - appropriation - distribution. (1) There is hereby created in the state treasury the donate to a Colorado nonprofit fund, referred to in this section as the "fund". The fund consists of money credited to the fund pursuant to this part 51 and any other money that the general assembly may appropriate or transfer to the fund. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund.

(2) The department of revenue shall determine annually the total amount designated to the fund and the total amounts designated to each individual eligible charitable organization pursuant to section 39-22-5102, and shall report those amounts to the state treasurer and to the general assembly. The state treasurer shall credit to the fund the total amount designated to the fund.

(3) The general assembly shall appropriate annually from the fund to the department of revenue, the secretary of state, and the state treasurer its actual, reasonable costs of implementing this part 51. After the appropriations to the department of revenue, the secretary of state, and the state treasurer are deducted, the state treasurer shall distribute the remaining funds to the eligible charitable organizations as designated by taxpayers after a reduction proportionate to the amount deducted from the fund for the administration of the fund.

(4) The department is not liable to a taxpayer or to an eligible charitable organization for any error in distributing a contribution under this part 51.
C.R.S. § 39-22-603.5 — CO Code / Title 39 / Article 22 / Part 6 / Section 39-22-603.5
39-22-603.5. Frivolous returns
Status: in_force

39-22-603.5. Frivolous returns. (1) As used in this part 6, unless the context otherwise requires, "frivolous return" means a return filed by any person that purports to be a return of the tax imposed by this article but that:

(a) Does not contain information on which the substantial correctness of the return may be judged; or

(b) Contains information that on its face indicates that the return is substantially incorrect; and

(c) The conduct described in either paragraph (a) or (b) of this subsection (1) is due to either:

(I) A position that is frivolous; or

(II) A desire, which appears on the purported return, to delay or impede the administration of state income tax laws.

(2) (a) If any person files a frivolous return, the executive director may calculate the person's Colorado taxable income and make an assessment based on such information as is available at the time the return is filed.

(b) If the tax calculated by the executive director is greater than the amount theretofore assessed or paid, a notice of deficiency shall be mailed to the taxpayer by first-class mail as set forth in section 39-21-105.5.
C.R.S. § 39-22-514.5 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-514.5
39-22-514.5. Tax credit for qualified costs incurred in preservation of historic structures -
Status: repealed

39-22-514.5. Tax credit for qualified costs incurred in preservation of historic structures - commercial historic preservation tax credit program cash fund - tax preference performance statement - legislative declaration - short title - definitions. (1) Short title. The short title of this section is the "Colorado Job Creation and Main Street Revitalization Act".

(2) Definitions. As used in this section, unless the context otherwise requires:

(a) (I) "Certified historic structure" means a property located in Colorado that has been certified by the historical society or other reviewing entity because it has been:

(A) Listed individually on, or as a contributing property in a district included within, the national register of historic places;

(B) Listed individually on, or as a contributing property in a district that is included within, the state register of historic properties pursuant to the provisions of article 80.1 of title 24; or

(C) Listed individually by, or as a contributing property within a designated historic district of, a certified local government.

(II) "Certified historic structure" may be either a residential or commercial structure.

(b) "Certified local government" means any local government that has been certified by the historical society in accordance with federal law.

(c) "Certified rehabilitation" means repairs or alterations to a certified historic structure that have been certified by the historical society or other reviewing entity as meeting the standards for rehabilitation of the United States secretary of the interior.

(d) "Contributing property" means property that adds to the sense of time, place, and historical development of a historic district as determined by the historical society or other reviewing entity.

(d.3) "Denver metropolitan area" means all of the land area within the boundaries of the counties of Adams, Arapahoe, Boulder, and Jefferson, all of the area within the boundaries of the city and county of Broomfield and the city and county of Denver, and all of the area within the boundaries of the county of Douglas; except that the area within the boundaries of the town of Castle Rock and the area within the boundaries of the town of Larkspur in the county of Douglas shall not be included in such area.

(e) "Department" means the Colorado department of revenue or any successor entity.

(f) "Designated" means established by local preservation ordinance.

(g) "Historical society" means the state historical society of Colorado, also known as history Colorado, or any successor entity.

(g.5) "Municipality" has the same meaning as specified in section 31-1-101 (6) and also includes any unincorporated area of a county, including without limitation an unincorporated community or a census-designated place.

(h) "Office" means the Colorado office of economic development or any successor entity.

(i) "Owner" means any taxpayer filing a state tax return or any entity that is exempt from federal income taxation pursuant to section 501 (c) of the internal revenue code, as amended, that owns:

(I) Title to a qualified structure;

(II) Prospective title to a qualified structure in the form of a purchase agreement or an option to purchase;

(III) A leasehold interest in a qualified commercial structure for a term of not less than thirty-nine years;

(III.5) A leasehold interest in a qualified commercial structure that is located in a rural community for a term of not less than five years; or

(IV) A leasehold interest in a qualified residential structure for a term of not less than five years.

(j) "Qualified commercial structure" means an income producing or commercial property located in Colorado that is:

(I) At least thirty years old; and

(II) (A) Listed individually on, or as a contributing property in a district included within, the state register of historic properties pursuant to article 80.1 of title 24; or

(B) (Deleted by amendment, L. 2018.)

(C) Listed individually by, or as a contributing property that is included within a designated historic district of, a certified local government.

(k) "Qualified rehabilitation expenditures" means:

(I) With respect to a qualified commercial structure, any expenditure as defined under section 47 (c)(2)(A) of the internal revenue code, as amended, and the related regulations thereunder; and

(II) With respect to a qualified residential structure, exterior improvements and interior improvements undertaken to restore, rehabilitate, or preserve the historic character of a qualified property that meet the standards for rehabilitation of the United States secretary of the interior as adopted by the historical society or the certified local government pursuant to federal law. As used in this subsection (2)(k)(II), "exterior improvements" is limited to any one or more of the following: Roof replacement or repair; exterior siding replacement or repair; masonry repair, re-pointing, or replacement; window repair or replacement; door repair or replacement; woodwork and trim repair or replacement; foundation repair or replacement; and excavation costs associated with foundation work. As used in this subsection (2)(k)(II), "interior improvements" is limited to one or more of the following: Electrical repairs and upgrades; plumbing repairs and upgrades; heating, venting, and air conditioning repairs and upgrades; repair of existing interior walls, ceilings, and finishes; repair or replacement of existing woodwork and trim; insulation; refinishing or replacing historic floor materials in-kind, excluding carpeting; and reconstructing missing historic elements when there is sufficient historical documentation to guide the reconstruction.

(l) "Qualified residential structure" means a nonincome producing and owner-occupied residential property located in Colorado that is:

(I) At least thirty years old; and

(II) (A) Listed individually on, or as a contributing property in a district included within, the state register of historic properties pursuant to article 80.1 of title 24; or

(B) (Deleted by amendment, L. 2018.)

(C) Listed individually by, or as a contributing property that is included within a designated historic district of, a certified local government.

(m) "Qualified structure" means a structure that satisfies the definition of either a qualified residential structure or a qualified commercial structure.

(n) "Rehabilitation plan" or "plan" means construction plans and specifications for the proposed rehabilitation of a qualified structure that are in sufficient detail to enable the office or the reviewing entity, as applicable, to evaluate whether the structure is in compliance with the standards developed under subsection (4) of this section.

(o) "Reviewing entity" means:

(I) A certified local government that has decided pursuant to subsection (5.5)(c) of this section to perform the duties specified under this section; or

(II) The historical society if the qualified residential structure either is not located within the territorial boundaries of any certified local government or is located within the territorial boundaries of a certified local government that has decided pursuant to subsection (5.5)(c) of this section not to perform the duties specified under this section.

(o.5) "Rural community" means:

(I) A municipality with a population of less than fifty thousand people that is not located within the Denver metropolitan area; or

(II) An unincorporated area of any county the total population of which county is less than fifty thousand people that is not located within the Denver metropolitan area.

(p) "Substantial rehabilitation" means:

(I) With respect to a qualified commercial structure:

(A) For tax years commencing prior to January 1, 2020, rehabilitation for which the qualified rehabilitation expenditures exceed twenty-five percent of the owner's original purchase price of the qualified commercial structure less the value attributed to the land; and

(B) For tax years commencing on or after January 1, 2020, rehabilitation for which the qualified rehabilitation expenditures are in an aggregate amount of at least twenty thousand dollars; and

(II) With respect to a qualified residential structure, rehabilitation for which the qualified rehabilitation expenditures exceed five thousand dollars.

(3) General provisions. For income tax years commencing on or after January 1, 2016, but prior to January 1, 2037, there shall be allowed a credit with respect to the income taxes imposed pursuant to this article 22 to each owner of a qualified structure that complies with the requirements of this section.

(4) Development of standards for approval of commercial or residential rehabilitation projects. (a) The office, in consultation with the historical society, shall develop standards for the approval of the substantial rehabilitation of qualified commercial structures for which a tax credit under this section is being claimed. The standards must consider whether the substantial rehabilitation of a qualified commercial structure is consistent with the standards for rehabilitation adopted by the United States department of the interior.

(b) The historical society shall develop standards for the approval of the substantial rehabilitation of qualified residential structures for which a tax credit under this section is being claimed. The standards must consider whether the substantial rehabilitation of a qualified residential structure is consistent with the standards for rehabilitation adopted by the United States department of the interior.

(5) Submission by owner of application and rehabilitation plan.

(a) The owner shall submit an application and rehabilitation plan to either the office for a qualified commercial structure or to the reviewing entity for a qualified residential structure, along with an estimate of the qualified rehabilitation expenditures under the rehabilitation plan. If an application and rehabilitation plan is for a qualified commercial structure, the owner shall specify whether the owner is seeking to reserve a credit allowed pursuant to subsection (12)(a) of this section or a credit allowed pursuant to subsection (12)(a.5) of this section, and an owner may only apply for one of these two credits for a single qualified rehabilitation plan as described in subsection (7) of this section. An owner, at the owner's own risk, may incur qualified rehabilitation expenditures no earlier than twenty-four months prior to the submission of the application and rehabilitation plan that an owner submits prior to January 1, 2026, and no earlier than twelve months prior to the submission of the application and rehabilitation plan that an owner submits on or after January 1, 2026, but only if satisfactory documentation is submitted to the office or the reviewing entity, as applicable, indicating the condition of the qualified structure prior to commencement of the rehabilitation, including but not limited to photographs of the qualified structure and written declarations from persons knowledgeable about the qualified structure. An owner may submit an application and rehabilitation plan and may commence rehabilitation before the property:

(I) Is listed individually on, or as a contributing property in a district included within, the national register of historic places;

(II) Is listed individually on, or as a contributing property in a district included within, the state register of historic properties pursuant to article 80.1 of title 24; or

(III) (Deleted by amendment, L. 2018.)

(IV) Is listed individually by, or as a contributing property within a designated historic district of, a certified local government.

(b) Notwithstanding the provisions of subsection (5)(a) of this section, an owner may incur qualified rehabilitation expenditures at the owner's own risk.

(b.5) On or after January 1, 2025, an owner shall not submit an application and rehabilitation plan for an already completed rehabilitation project.

(c) Within ninety days after receipt of the application and rehabilitation plan, the office and the historical society, in the case of a qualified commercial structure, and the reviewing entity, in the case of a qualified residential structure, shall notify the owner in writing if the rehabilitation plan is preliminarily determined to be a certified rehabilitation.

(5.5) Issuance of tax credit certificate for qualified residential structures - rules.

(a) (I) Following the completion of a rehabilitation of a qualified residential structure, the owner shall notify the reviewing entity that the rehabilitation has been completed and shall certify that the qualified rehabilitation expenditures incurred in connection with the rehabilitation plan. The owner shall also provide the reviewing entity with a cost and expense certification for the total qualified rehabilitation expenditures and the total amount of tax credits for which the owner is eligible. The reviewing entity shall review the documentation of the rehabilitation and verify its compliance with the rehabilitation plan. Except as otherwise provided in subsections (5.5)(a)(II) and (5.5)(a)(III) of this section, within ninety days after receipt of the foregoing documentation from the owner the reviewing entity shall issue a tax credit certificate in an amount equal to twenty percent of the actual qualified rehabilitation expenditures; except that the amount of the tax credit certificate awarded for tax years commencing before January 1, 2025, shall not exceed fifty thousand dollars for each qualified residential structure, the amount of the tax credit certificate awarded for tax years commencing on or after January 1, 2025, shall not exceed one hundred thousand dollars for each qualified residential structure, and both the fifty thousand dollar and one hundred thousand dollar amounts are to be calculated over a ten-year rolling period that commences with each change in ownership of the qualified residential structure.

(II) For income tax years commencing prior to January 1, 2030, and for applications submitted pursuant to subsection (5) of this section prior to January 1, 2025, with respect to a qualified residential structure located in an area that the president of the United States has determined to be a major disaster area under section 102 (2) of the federal "Robert T. Stafford Disaster Relief and Emergency Assistance Act", 42 U.S.C. sec. 5121 et seq., or that is located in an area that the governor has determined to be a disaster area under the "Colorado Disaster Emergency Act", part 7 of article 33.5 of title 24, the amount of the tax credit specified in subsection (5.5)(a)(I) of this section is increased to twenty-five percent for an application that is filed within six years after the disaster determination.

(III) For income tax years commencing on and after January 1, 2020, with respect to a qualified residential structure located in a rural community, the amount of the tax credit specified in subsection (5.5)(a)(I) of this section is increased to thirty-five percent for an application that is properly filed in accordance with this section.

(b) Repealed.

(c) For the purposes of this section, a certified local government may act as a reviewing entity only for a qualified residential structure. Each certified local government shall adopt a resolution or ordinance stating whether the government will act as a reviewing entity for the purposes of this section. The local government shall send a copy of the resolution or ordinance to the historical society. Any certified local government that decides to act as a reviewing entity for the purposes of this section shall perform all duties and responsibilities in connection with a certified rehabilitation that receives preliminary approval from such entity. The historical society shall promulgate rules on standards and reporting, in accordance with article 4 of title 24, as it deems necessary to facilitate the effective implementation of this subsection (5.5)(c).

(d) In the case of a qualified residential structure, the reviewing entity may impose a reasonable application fee.

(e) The historical society shall promulgate any and all rules necessary to further implement the tax credits to be claimed for the substantial rehabilitation of qualified residential structures under this section. Any rules must be promulgated in accordance with article 4 of title 24.

(f) By March 15, 2019, and on a quarterly basis thereafter, the historical society shall provide a report to the department specifying the ownership of tax credits to be claimed for the rehabilitation of qualified residential structures under this section covering the period since the last report. The historical society shall share with the department all necessary information about the tax credit created by this section to enable the historical society and the department to properly administer the tax credit.

(6) Application and issuance fees for qualified commercial structures. (a) For a qualified commercial structure for which the amount of tax credit requested under this section is two hundred fifty thousand dollars or more, the office may impose a reasonable application fee that does not exceed five hundred dollars. For a qualified commercial structure for which the amount of tax credit requested under this section is less than two hundred fifty thousand dollars, the office may impose a reasonable application fee that does not exceed two hundred fifty dollars.

(b) (Deleted by amendment, L. 2018.)

(c) The office may impose on the owner a reasonable issuance fee of up to three percent of the amount of the tax credit issued, which must be paid before the tax credit is issued to the owner. With respect to both an application fee and an issuance fee, the office shall share on an equal basis any such fees collected with the historical society and the department. Money collected from such fees must be credited to the commercial historic preservation tax credit program cash fund created in subsection (17) of this section and applied to the administration of the tax credit created by this section.

(d) (Deleted by amendment, L. 2018.)

(7) Reservation of tax credits for qualified rehabilitation plans for qualified commercial structures.

(a) In the case of a qualified commercial structure, a reservation of tax credits is permitted in accordance with the provisions of this subsection (7). The office and the historical society shall review the application and rehabilitation plan for a qualified commercial structure to determine that the information contained in the application and plan is complete. If the office and the historical society determine that the application and rehabilitation plan are complete, the office shall reserve for the benefit of the owner an allocation of a tax credit as provided in subsection (12)(a) or (12)(a.5) of this section and subsection (8)(c)(II) of this section, and the office shall notify the owner in writing of the amount of the reservation. The reservation of tax credits does not entitle the owner to an issuance of a tax credit until the owner complies with all the other requirements specified in this section for the issuance of the tax credit. The office shall separately reserve tax credits allowed pursuant to subsection (12)(a) of this section and tax credits allowed pursuant to subsection (12)(a.5) of this section in the order in which it receives completed applications and rehabilitation plans for each of those two categories of credits. The office shall issue a reservation of tax credits authorized by this subsection (7) within a reasonable time, not to exceed ninety days after the filing of a completed application and rehabilitation plan. The office shall stamp each completed application and plan with the date and time it receives the application and plan and shall review a plan and application on the basis of the order in which the documents were submitted by date and time. The office shall only review an application and plan submitted in connection with a property for which a property address, legal description, or other specific location is provided in the application and plan and for which the owner has specified the category of credit sought as required by subsection (5)(a) of this section. The owner shall not request the review of another property for approval in the place of the property that is the subject of the application and plan. Any application and plan disapproved by the office will be removed from the review process, and the office shall notify the owner in writing of the decision to remove the property from the review process. Disapproved applications and plans lose their priority in the review process. An owner may resubmit a modified application and plan, but a resubmitted application and plan is a new submission for purposes of the priority procedures described in this subsection (7)(a). If a resubmitted application and plan are submitted, the office may charge a new application fee in an amount specified in accordance with subsection (6) of this section.

(a.5) In the case of any project for a qualified commercial structure the qualified rehabilitation expenditures for which amount to less than fifty thousand dollars, if the total number of applications for such projects that are received but not reserved for credits allowed pursuant to either subsection (12)(a) or (12)(b) of this section reaches fifteen, the office may suspend the submission of additional applications for that credit for such projects until such time as the fifteen projects have been duly reserved or disapproved. The notification period that is specified in subsection (5)(c) of this section is extended to one hundred twenty days after receipt of the application and rehabilitation plan for the fifteen projects. Any application for a qualified commercial structure the qualified rehabilitation expenditures for which amount to fifty thousand or more dollars is not subject to this subsection (7)(a.5).

(b) If, for any calendar year, the aggregate amount of reservations for tax credits allowed pursuant to either subsection (12)(a) or (12)(a.5) of this section that the office has approved is equal to the total amount of tax credits available for reservation pursuant to the applicable subsection (12)(a) or (12)(a.5) of this section during that calendar year, the office shall notify all owners who have submitted applications and rehabilitation plans for reservation of a tax credit allowed pursuant to the applicable subsection (12)(a) or (12)(a.5) of this section then awaiting approval or submitted for approval after the calculation is made that no additional approvals of applications and plans for reservations of tax credits will be granted during that calendar year. The office shall additionally notify the owner of the priority number given to the owner's application and plan then awaiting approval. The applications and plans remain in priority status for two years from the date of the original application and plan and are considered for reservations of tax credits in the priority order established in this subsection (7) if additional credits become available resulting from the rescission of approvals under subsection (8)(a) of this section or because a new allocation of tax credits for a calendar year becomes available.

(c) Notwithstanding any other provision of this section, this subsection (7) does not apply to a qualified residential structure because no reservation of tax credits is necessary in the case of a qualified residential structure.

(8) Deadline for incurring specified amount of estimated costs of rehabilitation - proof of compliance - audit of cost and expense certification - issuance of tax credit certificate - commercial structures.

(a) An owner receiving a reservation of tax credits under subsection (7)(a) of this section shall incur not less than twenty percent of the estimated costs of rehabilitation contained in the application and rehabilitation plan not later than eighteen months after the date of issuance of the written notice from the office to the owner granting the reservation of tax credits. An owner receiving a reservation of tax credits shall submit evidence of compliance with the provisions of this subsection (8)(a). If the office determines that an owner has failed to comply with the requirements of this subsection (8)(a), the office may rescind the issuance it previously gave the owner approving the reservation of tax credits and, if so, the total amount of tax credits made available pursuant to subsection (12)(a) or (12)(a.5) of this section, as applicable, for the calendar year for which reservations may be granted must be increased by the amount of the tax credits rescinded. The office shall promptly notify any owner whose reservation of tax credits has been rescinded and, upon receipt of the notice, the owner may submit a new application and plan for which the office may charge a new application fee in accordance with subsection (6) of this section.

(b) Following the completion of a rehabilitation of a qualified commercial structure, the owner shall notify the office that the rehabilitation has been completed and shall certify the qualified rehabilitation costs and expenses. The applicant shall include a review of the certification by a licensed certified public accountant that is not affiliated with the qualified applicant, and the review of the certification must align with office policies for certification of qualified rehabilitation expenditures. The office and the historical society shall review the documentation of the rehabilitation and the historical society shall verify that the documentation satisfies the rehabilitation plan. Within ninety days after receipt of such documentation from the owner, the office shall issue a tax credit certificate in an amount equal to the following subject to subsection (8)(c) of this section:

(I) Twenty-five percent of the actual qualified rehabilitation expenditures that are less than two million dollars; plus

(II) Twenty percent of the actual qualified rehabilitation expenditures in excess of two million dollars.

(c) Notwithstanding subsection (8)(b) of this section:

(I) The total amount of the tax credit certificate issued for any particular project shall not exceed the amount of the tax credit reservation issued for the project under subsection (7)(a) of this section;

(II) The amount of a tax credit certificate to be issued pursuant to subsection (12)(a) of this section for any one qualified commercial structure shall not exceed one million dollars, and the amount of a tax credit certificate to be issued pursuant to subsection (12)(a.5) of this section for any one qualified rehabilitation plan shall not exceed one million five hundred thousand dollars in any one calendar year;

(III) With respect to a certified historic structure that is a qualified commercial structure that is located in an area that the president of the United States has determined to be a major disaster area under section 102 (2) of the federal "Robert T. Stafford Disaster Relief and Emergency Assistance Act", 42 U.S.C. sec. 5121 et seq., or that is located in an area that the governor has determined to be a disaster area under the "Colorado Disaster Emergency Act", part 7 of article 33.5 of title 24, the tax credit amounts specified in subsections (8)(b)(I) and (8)(b)(II) of this section must be increased as follows for an application that is filed within six years after the disaster determination:

(A) The twenty-five percent credit amount specified in subsection (8)(b)(I) of this section is increased to thirty percent; and

(B) The twenty percent credit amount specified in subsection (8)(b)(II) of this section is increased to twenty-five percent;

(IV) For income tax years commencing on or after January 1, 2020, with respect to a certified historic structure that is a qualified commercial structure that is located in a rural community, the tax credit amounts specified in subsections (8)(b)(I) and (8)(b)(II) of this section must be increased as follows for an application that is properly filed in accordance with this section:

(A) The twenty-five percent credit amount specified in subsection (8)(b)(I) of this section is increased to thirty-five percent; and

(B) The twenty percent credit amount specified in subsection (8)(b)(II) of this section is increased to thirty percent; and

(V) For a tax credit allowed pursuant to subsection (12)(a.5) of this section only, if, due to a regulatory requirement or condition of financing, the qualified commercial structure for which the tax credit is claimed is subject to a deed restriction that requires the owner to lease rental housing units in the qualified commercial structure only to individuals or households whose income is below a specified amount, then the amount of the tax credit specified in subsection (8)(b) of this section, as increased pursuant to subsection (8)(c)(III) or (8)(c)(IV) of this section, if applicable, is increased by an additional five percent.

(d) If the amount of qualified rehabilitation expenditures incurred by the owner would result in an owner being issued an amount of tax credits that exceeds the amount of tax credits reserved for the owner under subsection (7)(a) of this section, the owner may apply to the office for the issuance of an amount of tax credits that equals the excess. The owner must submit its application for issuance of such excess tax credits on a form prescribed by the office. The office shall automatically approve the application, which it shall issue by means of a separate certificate, subject only to the availability of tax credits and the provisions concerning priority provided in subsection (7)(a) of this section.

(e) (Deleted by amendment, L. 2018.)

(f) Repealed.

(9) Filing tax credit certificate with income tax return. In order to claim the credit authorized by this section, the owner shall file the tax credit certificate with the owner's state income tax return. The amount of the credit claimed that the owner may claim under this section is the amount stated on the tax credit certificate.

(10) (Deleted by amendment, L. 2018.)

(11) Residential and commercial. (a) For tax years commencing prior to January 1, 2027, the entire tax credit to be issued under this section for either a qualified residential structure or a qualified commercial structure may be claimed by the owner in the taxable year in which the certified rehabilitation is placed in service. If the amount of the credit allowed under this section exceeds the amount of income taxes otherwise due on the income of the owner in the income tax year for which the credit is being claimed, the amount of the credit not used as an offset against income taxes in said income tax year may be carried forward as a credit against subsequent years' income tax liability for a period not to exceed ten years and will be applied to the earliest income tax years possible. Any amount of the credit that is not used after such period shall not be refunded to the owner.

(b) (I) For tax years commencing on or after January 1, 2027, the entire tax credit to be issued under this section for either a qualified residential structure or a qualified commercial structure may be claimed by the owner in the tax year in which the certified rehabilitation is placed in service.

(II) If the amount of the credit allowed under this section for a qualified commercial structure, but not a qualified residential structure, exceeds the amount of income taxes otherwise due on the income of the owner in the income tax year for which the credit is being claimed, the amount of the credit not used as an offset against income taxes in said income tax year may be carried forward as a credit against subsequent years' income tax liability for a period not to exceed ten years and shall be applied to the earliest income tax years possible. Any amount of the credit that is not used after such period shall not be refunded to the owner.

(III) If the amount of the credit allowed under this section for a qualified residential structure, but not a qualified commercial structure, exceeds the amount of income taxes otherwise due on the income of the qualified applicant in the income tax year for which the credit is being claimed, the amount of the credit not used as an offset against income taxes in the income tax year is refunded to the qualified applicant.

(12) Limit on aggregate amount of all tax credits that may be reserved for qualified commercial structures - assignability and transferability of tax credits for qualified commercial structures - tax preference performance statement - legislative declaration.

(a) Except as otherwise provided in subsections (12)(a.5) and (12)(b) of this section, the aggregate amount of all tax credits in any calendar year that may be reserved for qualified commercial structures by the office upon the certification of all rehabilitation plans under subsection (7)(a) of this section for such structures must not exceed:

(I) For qualified commercial structures estimating qualified rehabilitation expenditures in the amount of two million dollars or less, two and one-half million dollars in the aggregate for the 2016 calendar year, five million dollars in the aggregate for each of the 2017, 2018, and 2019 calendar years, in addition to the amount of any previously reserved tax credits that were rescinded under subsection (8)(a) of this section during the applicable calendar year;

(II) For qualified commercial structures estimating qualified rehabilitation expenditures in excess of two million dollars, two and one-half million dollars in the aggregate for the 2016 calendar year, five million dollars in the aggregate for each of the 2017, 2018, and 2019 calendar years, in addition to the amount of any previously reserved tax credits that were rescinded under subsection (8)(a) of this section during the applicable calendar year;

(III) For qualified commercial structures estimating qualified rehabilitation expenditures in any amount, ten million dollars in the aggregate for each of the 2020 through 2032 calendar years, in addition to the amount of any previously reserved tax credits that were rescinded under subsection (8)(a) of this section during the applicable calendar year; except that the aggregate amount of the ten million dollars in tax credits in any tax year that may be reserved by the office must be equally split between qualified commercial structures for which the estimated qualified rehabilitation expenditures are equal to or less than two million dollars and qualified commercial structures for which the estimated qualified rehabilitation expenditures are in excess of two million dollars.

(a.5) For calendar years commencing on or after January 1, 2025, but before January 1, 2030, in addition to the tax credits allowed to be reserved by the office pursuant to subsection (12)(a) of this section, the office shall separately reserve credits pursuant to this subsection (12)(a.5) for an owner of a qualified commercial structure that submits an application and rehabilitation plan for rehabilitation of the qualified commercial structure so that at least fifty percent of the square footage of the qualified commercial structure will be net new rental housing units, as defined by the office. Except as otherwise provided in subsection (12)(b) of this section, the aggregate amount of all tax credits in any calendar year that may be reserved pursuant to this subsection (12)(a.5) for qualified commercial structures by the office upon the certification of all rehabilitation plans under subsection (7)(a) of this section for such structures must not exceed five million dollars per year in the aggregate, in addition to the amount of any previously reserved tax credits that were rescinded under subsection (8)(a) of this section during the applicable calendar year.

(b) Notwithstanding any other provision of this subsection (12), if the entirety of the allowable tax credit amount for any calendar year is not requested and reserved under:

(I) Subsection (12)(a) of this section, the office may use any such unreserved tax credits in reserving tax credits in another category for that same calendar year, and the office may also use any remaining unreserved tax credits for that calendar year in reserving tax credits in subsequent calendar years; or

(II) Subsection (12)(a.5) of this section, the office shall use any remaining unreserved tax credits for that calendar year in reserving tax credits in subsequent calendar years.

(c) Any tax credits issued under this section to a partnership, a limited liability company taxed as a partnership, or multiple owners of a property must be passed through to the partners, members, or owners, including any nonprofit entity that is a partner, member, or owner, respectively, on a pro rata basis or pursuant to an executed agreement among the partners, members, or owners documenting an alternate distribution method.

(d) Any tax credits issued under this section for a qualified commercial structure are freely transferable and assignable, subject to any notice and verification requirements to be determined by the office; except that the owner or a subsequent transferee may only transfer the portion of the tax credit that has neither been applied against the income tax imposed by this article 22 nor used to obtain a refund. Any transferee of a tax credit for a qualified commercial structure issued under this section may use the amount of tax credits transferred to offset against any other tax due under this article 22 or the transferee may freely transfer and assign all or any portion of the tax credits that have neither been applied against the income taxes imposed by this article 22 nor used to obtain a refund to any other person or entity, including an entity that is exempt from federal income taxation pursuant to section 501 (c) of the internal revenue code, as amended, and the other person or entity may freely transfer and assign all or any portion of the tax credits that have neither been applied against the income taxes imposed by this article 22 nor used to obtain a refund to any other person or entity. The tax credits may be transferred or assigned on multiple occasions until such time as the credit is claimed on a state tax return. The transferor and the transferee of the tax credits shall jointly file a copy of the written transfer agreement with the office within thirty days after the transfer. Any filing of the written transfer agreement with the office perfects the transfer. The office shall develop a system to track the transfers of tax credits and to certify the ownership of tax credits. A certification by the office of the ownership and the amount of tax credits may be relied on by the department and the transferee as being accurate, and the office shall not adjust the amount of tax credits as to the transferee; except that the office retains any remedies it may have against the owner. The office may promulgate rules to permit verification of the ownership and amount of the tax credits; except that any rules promulgated shall not unduly restrict or hinder the transfer of the tax credits. Notwithstanding any other provision of this section, only tax credits issued under this section for a qualified commercial structure, and not tax credits issued under this section for a qualified residential structure, are freely transferable and assignable in accordance with this subsection (12)(d).

(e) (Deleted by amendment, L. 2018.)

(13) Appeal. Any owner or any duly authorized representative of an owner may appeal any final determination made by the office, the historical society, or the department, including, without limitation, any preliminary or final reservation, or any approval or denial, in accordance with the "State Administrative Procedure Act", article 4 of title 24. The owner or the owner's representative shall submit any such appeal within thirty days after receipt by the owner or the owner's representative of the final determination that is the subject of the appeal.

(14) Deadline for submitting application and rehabilitation plan. Notwithstanding any other provision of this section, the tax credits authorized by this section for the substantial rehabilitation of a qualified structure are not available to an owner of a qualified structure that submits an application and rehabilitation plan after December 31, 2032. No action or inaction on the part of the general assembly has the effect of limiting or suspending the issuing of tax credits authorized by this section in any past or future income tax year with respect to a qualified structure if the owner of the structure submits an application and rehabilitation plan with the office on or prior to December 31, 2032, even if the qualified structure is placed into service after December 31, 2032. Any tax credits that have been reserved for a qualified commercial structure in accordance with subsection (7)(a) of this section and any applicable rules promulgated under this section prior to December 31, 2032, may still be issued by the office through and including December 31, 2036.

(15) Report to the department - rules - qualified commercial structures. (a) On or before March 15, 2016, and on a quarterly basis thereafter, the office shall provide a report to the department specifying the ownership and transfers of tax credits for the rehabilitation of qualified commercial structures under this section covering the period since the last report.

(b) The office, in consultation with the historical society, may promulgate any and all rules necessary to further implement the tax credits to be claimed for the substantial rehabilitation of qualified commercial structures under this section and shall solicit advice from the department in promulgating rules for transfers of such tax credits. Any such rules must be promulgated in accordance with article 4 of title 24.

(c) Notwithstanding any other provision of law, a taxpayer shall not claim a credit under this section in connection with the rehabilitation of a historic structure for which the taxpayer is also claiming a credit under section 39-22-514.

(16) Tax preference performance statement.

(a) In accordance with section 39-21-304 (1), which requires each bill that creates a new tax expenditure or extends an expiring tax expenditure to include a tax preference performance statement as part of a statutory legislative declaration, the general assembly declares that the general purposes of the tax credit created in this section are to induce certain designated behavior by taxpayers and to provide tax relief for certain businesses or individuals. The specific purposes of the tax credit are to provide an incentive to taxpayers to rehabilitate qualified structures in a way that increases the number of net new rental housing units in the state and to provide a greater incentive for taxpayers who develop such units for rental to low- and moderate-income renters who need affordable and middle-income housing.

(b) The general assembly and the state auditor shall measure the effectiveness of the tax credit in achieving the purposes specified in subsection (16)(a) of this section based on the information required to be maintained and reported by the office to the state auditor pursuant to subsection (16)(c) of this section.

(c) The office shall maintain a database of any information determined necessary by the office to evaluate the effectiveness of the income tax credit allowed in this section in meeting the purposes set forth in subsection (16)(a) of this section and shall provide such information, which must include the number and value of tax credits claimed pursuant to this section, the number of net new rental units developed, including the number of such units developed for rental only to low- and moderate-income renters, through the rehabilitation of qualified commercial or residential structures for which tax credits were allowed pursuant to this section, and, if available, any other information that may be needed, to the state auditor as part of the state auditor's evaluation of the tax credit required by section 39-21-305.

(17) Commercial historic preservation tax credit program cash fund.

(a) The commercial historic preservation tax credit program cash fund is created in the state treasury. The fund consists of gifts, grants, donations, fee revenue credited to the fund pursuant to subsection (6) of this section, and any other money that the general assembly may appropriate, transfer, or require by law to be credited to the fund.

(b) The state treasurer shall credit all interest and income derived from the deposit and investment of money in the commercial historic preservation tax credit program cash fund to the fund.

(c) Money in the fund is continuously appropriated to the office for the purpose of administering the tax credit issued pursuant to this section.

(d) The state treasurer shall transfer all unexpended and unencumbered money in the fund on December 31, 2051, to the general fund.
C.R.S. § 39-11.5-114 — CO Code / Title 39 / Article 11.5 / Section 39-11.5-114
39-11.5-114. Federal redemption rights
Status: in_force

39-11.5-114. Federal redemption rights. Any redemption rights granted under federal law are separate and distinct from the redemption rights granted under this article 11.5. All liens that are junior to a tax lien pursuant to this article 11.5 are divested by the public auction conducted in accordance with this article 11.5, subject to the redemption rights provided in this article 11.5. The treasurer conducting a public auction under this article 11.5 is not designated to receive redemptions under federal law.
C.R.S. § 39-11.5-103 — CO Code / Title 39 / Article 11.5 / Section 39-11.5-103
39-11.5-103. Review of application for public auction
Status: in_force

39-11.5-103. Review of application for public auction. (1) As soon as practicable following the receipt of an application for public auction filed by a lawful holder pursuant to section 39-11.5-102, the treasurer shall review the application to determine whether it complies with the requirements of this article 11.5.

(2) If the treasurer determines that the application for public auction complies with the requirements of this article 11.5, the treasurer shall record the application for public auction and the original certificate of purchase, if not previously recorded, with the office of the county clerk and recorder within ten business days following the treasurer's determination.
C.R.S. § 39-1-104.6 — CO Code / Title 39 / Article 1 / Section 39-1-104.6
39-1-104.6. Qualified-senior primary residence real property - valuation for assessment - re
Status: in_force

39-1-104.6. Qualified-senior primary residence real property - valuation for assessment - reimbursement to local governments for reduced valuation - temporary mechanism for refunding excess state revenues - legislative declaration - definitions. (1) Definitions. As used in this section, unless the context otherwise requires:

(a) "Local governmental entity" means a governmental entity authorized by law to impose ad valorem taxes on taxable property located within its territorial limits.

(b) (I) "Owner-occupier" means an individual who:

(A) Is an owner of record of residential real property that the individual occupies as the individual's primary residence;

(B) Is not an owner of record of the residential real property that the individual occupies as the individual's primary residence, but either is a spouse or civil union partner of an owner of record of the residential real property and who also occupies the residential real property as the owner of record's primary residence, or is the surviving spouse or partner of an individual who was an owner of record of the residential real property and who occupied the residential real property with the surviving spouse or partner as their primary residence until the owner of record's death;

(C) Is not an owner of record of the residential real property that the individual occupies as the individual's primary residence, only because the property has been purchased by or transferred to a trust, a corporate partnership, or any other legal entity solely for estate planning purposes and is the maker of the trust or a principal of the corporate partnership or other legal entity;

(D) Occupies residential real property as the individual's primary residence and is the spouse or civil union partner of a person who also occupies the residential real property, who is not the owner of record of the property only because the property has been purchased by or transferred to a trust, a corporate partnership, or any other legal entity solely for estate planning purposes, and who is the maker of the trust or a principal of the corporate partnership or other legal entity; or

(E) Occupies residential real property as the individual's primary residence and is the surviving spouse or partner of a person who occupied the residential real property with the surviving spouse or partner until the person's death, who was not the owner of record of the property at the time of the person's death only because the property had been purchased by or transferred to a trust, a corporate partnership, or any other legal entity solely for estate planning purposes prior to the person's death, and who was the maker of the trust or a principal of the corporate partnership or other legal entity prior to the person's death.

(II) "Owner-occupier" also includes any individual who, but for the confinement of the individual to a hospital, nursing home, or assisted living facility, would occupy the residential real property as the individual's primary residence and would meet one or more of the ownership criteria specified in subsection (1)(b)(I) of this section, if the residential real property:

(A) Is temporarily unoccupied; or

(B) Is occupied by the spouse, civil union partner, or a financial dependent of the individual.

(c) "Owner of record" means an individual whose name appears on a valid recorded deed to residential real property as an owner of the property.

(d) "Senior homestead exemption" means the property tax exemption for qualifying seniors allowed by section 39-3-203 (1).

(e) "Surviving spouse or partner" means an individual who was legally married to another individual, or was a partner in a civil union with another individual, at the time of the other individual's death and who has not remarried or entered into another civil union.

(f) "Total property tax revenue lost" means the amount of property tax revenue lost for a property tax year by a local governmental entity due solely to the reduced valuation for assessment of qualified-senior primary residence real property, including multi-family qualified-senior primary residence real property under section 39-2-104.2 (3)(s), as compared to the valuation for assessment of residential real property, including multi-family residential real property under this section, as calculated by each assessor, subject to correction by the administrator, pursuant to subsection (9) of this section.

(2) Classification. (a) For property tax years commencing on or after January 1, 2025, residential real property that as of the assessment date is used as the primary residence of an owner-occupier is classified as qualified-senior primary residence real property, which is a subclass of residential real property, if:

(I) The owner-occupier completes and files an application in the manner required by subsection (3) of this section;

(II) The owner-occupier previously qualified for and received the senior homestead exemption for a different property for a property tax year commencing on or after January 1, 2020, and does not qualify for the senior homestead exemption for the current property tax year; and

(III) The circumstances that qualify the property for the classification have not changed since the filing of the application.

(b) Under no circumstances is the classification as qualified-senior primary residence real property allowed for property taxes assessed during any property tax year prior to the year in which an owner-occupier first files an application in the manner required by subsection (3) of this section. If ownership of residential real property that qualified as qualified-senior primary residence real property as of the assessment date changes after the assessment date, the classification is allowed only if an owner-occupier whose status as an owner-occupier qualifies the property for the classification has filed an application by the deadline specified in subsection (3)(a) of this section.

(c) If an individual owns and occupies a dwelling unit in a common interest community, as defined in section 38-33.3-103 (8), as the individual's primary residence, only the dwelling unit that the individual occupies as the individual's primary residence may qualify as qualified-senior primary residence real property.

(d) For purposes of this subsection (2), two individuals who are legally married or are civil union partners but who own more than one parcel of residential real property are deemed to occupy the same primary residence, and only that property may be classified as qualified-senior primary residence real property. If an individual is an owner-occupier of a residential real property and an owner of record on another property along with a member of the individual's family other than the individual's spouse, then the other family member may be an owner-occupier of the other property.

(e) A unit of real property that might otherwise be classified as multi-family residential real property and that qualifies as qualified-senior primary residence real property under this section is classified as multi-family qualified-senior primary residence real property.

(3) Applications. (a) For a property to be classified as qualified-senior primary residence real property, an individual must file with the assessor a completed application no later than July 15 of the first property tax year for which the classification is sought. An application returned by mail is deemed filed on the date it is postmarked.

(b) (I) An applicant must complete an application for property to be classified as qualified-senior primary residence real property on a form prescribed by the administrator that includes the following information:

(A) The applicant's name, mailing address, and social security number;

(B) The address and schedule or parcel number of the property;

(C) The name and social security number of the applicant's spouse or civil union partner who occupies the property as the spouse or civil union partner's primary residence;

(D) If a trust is the owner of record of the property, the names of the maker of the trust, the trustee, and the beneficiaries of the trust;

(E) If a corporate partnership or other legal entity is the owner of record of the property, the names of the principals or the corporate partnership or other legal entity;

(F) A statement that the applicant previously qualified for the senior homestead exemption for a property tax year commencing on or after January 1, 2020, for a different property than the property that the applicant currently occupies as the applicant's primary residence;

(G) An affirmation, in a form prescribed by the administrator, that the applicant believes, under penalty of perjury in the second degree as defined in section 18-8-503, that all information provided by the applicant is correct; and

(H) Any other information that the administrator reasonably deems necessary.

(II) The administrator shall also include in the application a statement that an applicant or, if applicable, the trustee has a legal obligation to inform the assessor within sixty days of any change in the ownership or occupancy of the residential real property for which classification as qualified-senior primary residence real property has been applied for or allowed that would prevent the classification from being allowed for the property.

(c) For purposes of the application and related provisions in this section, real property that is multi-family qualified-senior primary residence real property is treated as qualified-senior primary residence real property.

(4) Penalties. (a) In addition to any penalties prescribed by law for perjury in the second degree, an applicant who knowingly provides false information on an application or attempts to claim more than one property as qualified-senior primary residence real property for the same property tax year shall:

(I) Not be able to claim the property as qualified-senior primary residence real property for the property tax year;

(II) Pay, to the treasurer of a county in which property was improperly classified as qualified-senior primary residence real property due to the provision by the applicant of false information or the filing of more than one application, an amount equal to the amount of property taxes not paid as a result of the improper classification as qualified-senior primary residence real property; and

(III) Upon conviction of perjury, be required to pay to the treasurer of any county in which an invalid application was filed an additional amount equal to twice the amount of the property taxes identified in subsection (4)(a)(II) of this section plus interest, calculated at the annual rate calculated pursuant to section 39-21-110.5 from the date the invalid application was filed until the date the applicant makes the payment required by this subsection (4)(a)(III).

(b) If an applicant or a trustee fails to inform the assessor within sixty days of any change in the ownership or occupancy of residential real property for which classification as a qualified-senior primary residence real property has been applied for or allowed that would prevent the classification from being allowed for the property as required by subsection (3)(b) of this section:

(I) The classification is not allowed with respect to the residential real property for the subsequent property tax year; and

(II) The applicant or trustee shall pay, to the treasurer of any county in which the classification was improperly allowed due to the applicant's or trustee's failure to immediately inform the assessor of any change in the ownership or occupancy of residential real property, an amount equal to the amount of property taxes not paid as a result of the improper classification as qualified-senior primary residence real property plus interest, calculated at the annual rate specified in section 39-21-110.5 from the date on which the change in the ownership or occupancy occurred until the date the applicant makes the payment required by this subsection (4)(b)(II).

(c) Any amount required to be paid to a treasurer pursuant to subsection (4)(a) or (4)(b) of this section is deemed part of the lien of general taxes imposed on the person required to pay the amount and has the priority specified in section 39-1-107 (2).

(5) Confidentiality. (a) Completed applications for classification as qualified-senior primary residence real property are confidential; except that:

(I) (A) An assessor or the administrator may release statistical compilations or informational summaries of any information contained in the applications and shall provide a copy of an application to the applicant who returned the application and the treasurer of the same county as the assessor; and

(B) An assessor or the administrator may introduce a copy of an application as evidence in any administrative hearing or legal proceeding in which the accuracy or veracity of the application is at issue so long as neither the applicant's social security number nor any other social security number set forth in the application is divulged;

(II) A treasurer shall keep confidential each individual application received from an assessor but may release statistical compilations or informational summaries of any information contained in applications and may introduce a copy of an application as evidence in any administrative hearing or legal proceeding in which the accuracy or veracity of the application is at issue so long as neither the applicant's social security number nor any other social security number set forth in the application is divulged; and

(III) The administrator may share information contained in an application for classification of real property as qualified-senior primary residence real property, including any social security number set forth in the application, with the department of revenue to the extent necessary to enable the administrator to verify that the applicant satisfies legal requirements for the classification.

(b) Notwithstanding the provisions of subsection (5)(a) of this section, the administrator, an assessor, or a treasurer shall not give any other person any listing of applicants or any other information that would enable a person to easily assemble a mailing list of applicants for the qualified-senior primary residence real property classification.

(c) In accordance with section 25-2-103 (4.7), the administrator shall annually provide to the state registrar of vital statistics of the department of public health and environment a list, by name and social security number, of every individual who had property classified as qualified-senior primary residence real property for the immediately preceding year so that the registrar can provide to the administrator a list of all the individuals on the list who have died. No later than April 1, 2026, and April 1 of each year thereafter, the administrator shall forward to the assessor of each county the name and social security number of each deceased individual who had residential real property located within the county that was so classified for the immediately preceding year so that the assessor can change the classification of the property, if necessary.

(6) Notice. (a) As soon as practicable after January 1, 2025, and after January 1 of each year thereafter, each county treasurer shall, at the treasurer's discretion, mail or electronically send to each person whose name appears on the tax list and warrant as an owner of residential real property notice of the qualified-senior primary residence real property classification. The treasurer shall mail or electronically send the notice each year on or before the date on which the treasurer mails the property tax statement for the previous property tax year pursuant to section 39-10-103. The administrator shall prescribe the form of the notice, which must include a statement of the eligibility criteria for the primary residence real property and qualified-senior primary residence real property classifications and instructions for obtaining a related application.

(b) To reduce mailing costs, an assessor may coordinate with the treasurer of the same county to include notice with the tax statement for the previous property tax year mailed pursuant to section 39-10-103, or may include notice with the notice of valuation mailed pursuant to section 39-5-121 (1)(a).

(7) Notice of classification - appeal. (a) (I) Except as otherwise provided in subsection (7)(b) of this section, an assessor shall only classify property as qualified-senior primary residence real property if an applicant has timely returned an application in accordance with subsection (3) of this section that establishes that the classification is appropriate.

(II) If the information provided on or with an application indicates that the applicant is not entitled to the classification, or is insufficient to allow the assessor to determine whether the property meets the classification, the assessor shall deny the application and mail to the applicant a statement providing the reasons for the denial and informing the applicant of the applicant's right to contest the denial pursuant to subsection (7)(b) of this section. The assessor shall mail the statement no later than August 1 of the property tax year for which the application was filed.

(b) (I) An applicant whose application has been denied may contest the denial by requesting a hearing before the county commissioners sitting as the county board of equalization no later than August 15 of the property tax year for which the application was filed. The hearing shall be held on or after August 1 and no later than September 1 of the property tax year for which the application was filed, and the decision of the county board of equalization is not subject to further administrative appeal by either the applicant or the assessor.

(II) An individual who has not timely filed an application with the assessor by March 15 may file a late application no later than the July 15 that immediately follows that deadline. The assessor shall accept any such application but may not accept any late application filed after July 15. A decision of an assessor to disallow the filing of a late application after July 15 or to grant or deny the classification to an applicant who has filed a late application after March 15 but no later than July 15 is final, and an applicant who is denied late filing or classification of property as qualified-senior primary residence real property may not contest the denial.

(III) The county board of equalization may appoint independent referees to conduct hearings requested pursuant to subsection (7)(b)(I) of this section on behalf of the county board and to make findings and submit recommendations to the county board for its final action.

(8) Reporting to administrator.

(a) No later than September 10, 2025, and September 10 of each year thereafter, each assessor shall forward to the administrator a report on the residential real property in the assessor's county that qualifies for classification as qualified-senior primary residence real property for the current property tax year. For each unit of residential real property, the report must include:

(I) The legal description of the property;

(II) The schedule or parcel number for the property;

(III) The name and social security number of the applicant who claimed the classification for the property and, if applicable, the applicant's spouse or civil union partner who occupies the property;

(IV) A statement of what the valuation for assessment of the property would be if it had not qualified as qualified-senior primary residence real property and the valuation for assessment of the property as qualified-senior primary residence real property; and

(V) Any other information that the administrator reasonably deems necessary.

(b) (I) The administrator shall examine the reports sent by each assessor pursuant to subsection (8)(a) of this section to ensure that no applicant has applied for a qualified-senior primary residence real property classification without meeting all legal requirements for obtaining the classification. No later than November 1, 2025, and November 1 of each year thereafter, if the administrator determines that an applicant has applied for more than one property to be classified as qualified-senior primary residence real property, the administrator shall provide written notice to the applicant that the applicant has applied for more than one such classification and is therefore not entitled to the classification for any property. If the administrator determines that the applicant and the applicant's spouse have applied for separate properties to be classified as qualified-senior primary residence real property, that the classification was applied for in violation of subsection (4) of this section, that the applicant has claimed the classification for residential real property that the applicant does not own and occupy as the applicant's primary residence as required by subsection (2)(a) of this section, or that the applicant is otherwise ineligible for the classification, the administrator shall provide written notice to an applicant that the applicant is ineligible and the reason for the ineligibility. The notice must also include a statement specifying the deadline and procedures for protesting the denial of the classification or classifications claimed.

(II) An applicant whose application for a qualified-senior primary residence real property classification is denied by the administrator pursuant to subsection (8)(b)(I) of this section may file a written protest with the administrator no later than November 15 of the year in which the classification was denied. A written protest returned by mail is deemed filed on the date it is postmarked. If the ground for the denial is that the applicant, or the applicant and the applicant's spouse or civil union partner, claimed multiple classifications, the sole ground for a protest is that the applicant, or the applicant and the applicant's spouse or civil union partner, filed only one claim for the classification, and the protest must specify the property identified by the administrator in the notice denying the classification for which no classification was claimed. If the ground for the denial is that the applicant is not an owner-occupier of the residential real property for which the classification is claimed, the sole grounds for a protest are that the applicant actually is an owner-occupier and that the applicant qualifies for the classification. If a protest is denied, the administrator shall mail the applicant a written statement of the basis for the denial and a copy of each classification application filed with an assessor that the applicant claimed had not been filed.

(c) No later than December 1, 2025, and each December 1 thereafter, and after examining the reports sent by each assessor, denying applications for classification of property as qualified-senior primary residence real property, and deciding protests in accordance with subsection (8)(b) of this section, the administrator shall provide written notice to the assessor of each county in which an application has been denied because the applicant was ineligible that includes the identity of each denied applicant and the reason for each denial.

(d) No later than January 10, 2026, and each January 10 thereafter, each assessor shall forward to the administrator a partial copy of the tax warrant for the assessor's county that includes only property for which the assessor has granted an application for classification as qualified-senior primary residence real property. The administrator shall examine the tax warrants to ensure that no additional classifications of property as qualified-senior primary residence real property have been allowed since the administrator examined the reports previously received from the assessors and that each assessor has removed from the tax warrant all such classifications that the administrator previously denied. No later than January 17, 2026, and no later than each January 17 thereafter, the administrator shall notify each assessor and each treasurer of any such classifications to be removed from the tax warrant.

(9) Reporting and reimbursement of property tax revenue reductions. (a) No later than March 1, 2026, and no later than March 1, 2027, each treasurer shall forward to the administrator a report on the properties in the assessor's county that were classified as qualified-senior primary residence real property for the previous property tax year. The administrator shall cross-check the report as specified in subsection (9)(b) of this section before correcting it, if necessary, and forwarding it to the state treasurer to enable the state treasurer to issue a reimbursement warrant to each treasurer in accordance with subsection (9)(c) of this section. The report must include:

(I) A statement of the total reduction in valuation for assessment in the county resulting from the classification of residential real property as qualified-senior primary residence real property and the total property tax revenue lost by local governmental entities within the county as a result of that classification that must be reimbursed by the state;

(II) With respect to each unit of residential real property that is classified as qualified-senior primary residence real property:

(A) The legal description of the property;

(B) The schedule or parcel number for the property;

(C) The name of the applicant who applied for and obtained the classification for the property and each additional person who occupies the property;

(D) A statement of what the valuation for assessment of the property would be if it had not qualified as qualified-senior primary residence real property and the valuation for assessment of the property as qualified-senior primary residence real property and the amount of taxes due on the property; and

(E) Any other information that the administrator reasonably deems necessary.

(b) After receiving reports from each treasurer pursuant to subsection (9)(a) of this section, the administrator shall cross-check the reports to identify any classification of property as qualified-senior primary residence real property allowed in a county that must be denied due to a failure of the individual allowed the classification to satisfy all legal requirements for obtaining the classification. The administrator shall remove any classification of property as qualified-senior primary residence real property that must be denied from the report in which it appears and shall forward all reports to the state treasurer no later than the April 1 immediately following the receipt of the reports by the administrator. In addition, if the administrator identifies any classification of property as qualified-senior primary residence real property that was improperly allowed for a prior property tax year for which the state treasurer reimbursed a treasurer pursuant to subsection (9)(c) of this section or identifies any classification properly allowed for such a prior property tax year for which the state treasurer did not reimburse a treasurer, the administrator shall advise the state treasurer to adjust the current year reimbursement to the treasurer to correct the error. No later than that April 1, the administrator shall also notify the treasurer and assessor of each county of all classifications of property as qualified-senior primary residence real property removed from the report for the county and any resulting and other adjustments to the amount of current year reimbursement to be paid by the state treasurer to the treasurer.

(c) (I) (A) No later than April 15, 2026, and no later than April 15, 2027, the state treasurer shall issue a warrant to each treasurer for the amount needed to fully reimburse all local governmental entities within the treasurer's county for the total property tax revenue lost for the prior property tax year that are payable during the year in which the state treasurer issues the warrant. The reimbursement must be paid from the state general fund and is not subject to the statutory limitation on state general fund appropriations set forth in section 24-75-201.1.

(B) As used in subsection (9)(c)(I)(A) of this section, "total property tax revenue lost" includes only revenue lost as a result of classifications of property as qualified-senior residential real property properly allowed in accordance with the requirements of this section and does not include any revenue lost as a result of such a classification being erroneously allowed.

(II) Each treasurer shall distribute the total amount received from the state treasurer pursuant to subsection (9)(c)(I)(A) of this section to the local governmental entities within the treasurer's county as if the total property tax revenue lost had been regularly paid. When a treasurer distributes that amount, the treasurer shall provide each local governmental entity with a statement of the amount distributed to the local governmental entity that represents reimbursement received from the state for total property tax revenue lost.

(III) Notwithstanding the provisions of subsections (9)(c)(I) and (9)(c)(II) of this section, the state treasurer shall reduce a local governmental entity's reimbursement as necessary to prevent the local governmental entity from exceeding its fiscal year spending limit under section 20 (7)(b) of article X of the state constitution for the fiscal year.

(d) In accordance with subsection (9)(b) of this section, for any property tax year commencing on or after January 1, 2025, but before January 1, 2027, the state treasurer shall not reimburse a treasurer for total property tax revenue lost as a result of a classification of real property as qualified-senior primary residence real property that was erroneously granted in the treasurer's county. If, pursuant to subsection (9)(b) of this section, the administrator advises the state treasurer that the state treasurer has provided either too much or too little reimbursement to a treasurer for classifications of real property as qualified-senior primary residence real property granted in the treasurer's county for any prior property tax year commencing on or after January 1, 2025, but before January 1, 2027, the state treasurer shall adjust the reimbursement for the current property tax year as directed by the administrator in order to correct the error.

(e) Notwithstanding any provision of law to the contrary, the reports required by this subsection (9) and their contents shall be kept confidential by an assessor, a treasurer, the administrator, the state treasurer, or the state auditor; except that said persons may provide the reports to each other as required or authorized by law.

(10) Reimbursement as refund of excess state revenues. (a) The general assembly hereby finds and declares that section 20 of article X of the state constitution authorizes the state to use any reasonable method to make required refunds of excess state revenues, and the payment by the state of reimbursement to local governmental entities for total property tax revenue lost as a result of the classification of real property as qualified-senior primary residence real property, which classification directly reduces the tax liability of taxpaying Colorado residents throughout the state, is a reasonable method of making such refunds.

(b) For any state fiscal year commencing on or after July 1, 2024, for which state revenues, as defined in section 24-77-103.6 (6)(c), exceed the excess state revenues cap, as defined in section 24-77-103.6 (6)(b)(I)(C) or (6)(b)(I)(D), and are required to be refunded in accordance with section 20 of article X of the state constitution, the lesser of all reimbursement paid by the state treasurer to each treasurer as required by subsection (9)(c) of this section for the property tax year that commenced during the state fiscal year or an amount of such reimbursement equal to the amount of such excess state revenues above the amount of such excess state revenues that are required to be refunded pursuant to section 39-3-209 is a refund of such excess state revenues.

(c) As used in this subsection (10), unless the context otherwise requires, "revenue lost as a result of the classification of real property as qualified-senior primary residence real property" means revenue that is lost as a result of certain residential properties being classified as "qualified-senior primary residence real property", and having a valuation for assessment determined pursuant to section 39-1-104.2 (3)(s), rather than being classified as "all residential real property other than qualified-senior primary residence real property" and having a valuation for assessment determined pursuant to section 39-1-104.2 (3)(t), (3)(t.5), (3)(u), and (3)(u.5).
C.R.S. § 39-3-117 — CO Code / Title 39 / Article 3 / Part 1 / Section 39-3-117
39-3-117. Cemeteries - not-for-profit - exemption
Status: in_force

39-3-117. Cemeteries - not-for-profit - exemption. Cemeteries not used or held for private or corporate profit shall be exempt from the levy and collection of property tax.
C.R.S. § 39-1-104.1 — CO Code / Title 39 / Article 1 / Section 39-1-104.1
39-1-104.1. Implementation costs - annual revaluation
Status: repealed

39-1-104.1. Implementation costs - annual revaluation. (Repealed)
C.R.S. § 39-22-568 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-568
39-22-568. Quantum business loan loss reserve income tax credit - tax preference performanc
Status: repealed

39-22-568. Quantum business loan loss reserve income tax credit - tax preference performance statement - cash fund - legislative declaration - definitions - report - repeal. (1) Tax preference performance statement. In accordance with section 39-21-304 (1), which requires each bill that creates a new tax expenditure to include a tax preference performance statement as part of a statutory legislative declaration, the general assembly finds and declares that:

(a) The general legislative purposes of the tax credit allowed by this section are:

(I) To induce certain designated behavior by taxpayers; and

(II) To improve industry competitiveness;

(b) The specific legislative purpose of the tax credit allowed by this section is to support and facilitate the development of the quantum business ecosystem and high-quality jobs in the state by encouraging qualified applicants to make loans that the qualified applicants might not otherwise make or at more favorable terms than they would otherwise make to borrowers that have limited access to capital; and

(c) The general assembly and state auditor shall measure the effectiveness of the credit in achieving the purposes specified in subsections (1)(a) and (1)(b) of this section based on the information reported by the administrator pursuant to subsection (11) of this section.

(2) Definitions. As used in this section, unless the context otherwise requires:

(a) "Administrator" means the office, a third party selected by the office, or the third party working in combination with the office to administer the tax credit created in this section.

(b) "Borrower" means a quantum company doing business in Colorado that is an early-stage or growth-stage company at the time a qualified applicant makes a loan to the company and that, except as otherwise provided in subsection (12)(c) of this section, had an annual revenue of less than one hundred million dollars in the year prior to the year in which a qualified applicant made a loan to the company.

(c) "Department" means the Colorado department of revenue.

(d) "Eligible loan" means a loan made by a qualified applicant to a borrower.

(e) "Office" means the Colorado office of economic development created in section 24-48.5-101.

(f) "Qualified applicant" means a commercial bank, depository institution, private lending fund, or other entity that makes loans for commercial purposes and makes a loan to a borrower.

(g) "Quantum company" means a private for-profit or nonprofit organization that has quantum technology as a key part of its business model, including but not limited to manufacturing, testing, production, research and development, or enhancement of hardware or software to perform or use quantum technology as a key input or output of its business model, and companies that produce goods or services that are key inputs for other quantum companies.

(h) "Registered loan" means an eligible loan made to a borrower that is registered with the administrator pursuant to subsection (7)(a) of this section.

(3) Credit allowed. (a) Subject to the provisions of subsection (3)(c) of this section, for income tax years commencing on or after January 1, 2026, but prior to January 1, 2046, a qualified applicant is allowed a credit against the income taxes imposed by this article 22 to offset losses incurred in connection with one or more registered loans in an amount specified on the registered loan loss certificate issued by the administrator pursuant to subsection (8) of this section; except that, if a qualified taxpayer claims more than one registered loan loss, in no event may the aggregate registered loan losses claimed by the qualified taxpayer exceed the total amount specified on the tax credit certificates issued pursuant to subsection (7) of this section.

(b) To claim the credit allowed pursuant to this section, the qualified applicant must submit an application as specified in subsection (5) of this section, make an eligible loan and register the eligible loan prior to June 30, 2036, obtain a tax credit certificate from the administrator as specified in subsection (7) of this section, incur a loss in connection with a registered loan and obtain a registered loan loss certificate from the administrator as specified in subsection (8) of this section prior to January 1, 2045, and, once issued by the administrator, file the tax credit certificate and the registered loan loss certificate with the qualified applicant's income tax return as specified in subsection (9) of this section.

(c) The administrator shall determine the method it will use to distribute tax credit certificates to qualified applicants pursuant to subsection (7) of this section. In selecting the distribution method used to distribute the tax credit certificates, the administrator may consult with quantum industry participants. The distribution method may be:

(I) On a first-come, first-served basis to qualified applicants who apply to the administrator for a tax credit pursuant to subsection (5) of this section for one or more eligible loans each, after the qualified applicant has made the loan;

(II) Based on a competitive lender selection process where the administrator chooses which lenders are eligible to apply for the tax credit allowed by this section in advance of accepting applications and requests to register loans and in advance of issuing tax credits. In selecting lenders to be allowed a tax credit pursuant to this section, the administrator may allocate some or all of the credits solely to selected lenders. If the administrator uses this distribution method, the selected lenders are the only qualified applicants that are allowed to apply to the administrator, request registration of the loan, and be issued a tax credit certificate and registered loan loss certificate pursuant to this section.

(III) A combination of the methods described in subsections (3)(c)(I) and (3)(c)(II) of this section.

(d) The tax credit created in this section is not allowed to any qualified applicant unless a Colorado-based entity receives a multi-million dollar federal grant from the economic development administration for the regional technology and innovation program or a comparable federal grant program.

(4) Credit administration. (a) Except as otherwise provided in subsection (4)(b) of this section, the office is the administrator of the credit allowed pursuant to this section. The office may work with a third-party program administrator selected by the office to assist in administering the credit. In addition, the office may contract with the Colorado housing and finance authority created in section 29-4-704 without recourse to a competitive process to provide services to the office in its role as the administrator.

(b) In lieu of the office serving as the administrator pursuant to subsection (4)(a) of this section, the office may contract with another entity to be the administrator. However, if the office contracts with another entity to be the administrator, then the office must select the third-party administrator using a competitive selection process.

(5) Application submission and request for loan registration. (a) An applicant that has made a loan for the purposes of the tax credit allowed pursuant to this section may submit an application for a tax credit certificate described in subsection (7) of this section and request that the administrator register the loan pursuant to this subsection (5) on or after January 1, 2025, but no later than June 30, 2036.

(b) (I) The administrator shall review all submitted applications to:

(A) Determine whether the applicant is a qualified applicant;

(B) Determine whether the quantum company that is the loan recipient is a borrower;

(C) Determine whether the application is complete and includes a description of the loan that the qualified applicant made or will make to a borrower and a description of the purposes for which the borrower will use the loan;

(D) Make a determination of whether the loan is an eligible loan and whether the administrator may register the loan pursuant to subsection (5)(c) of this section; and

(E) Determine whether, based on the eligible loan, the qualified applicant is entitled to a tax credit certificate as specified in subsection (7) of this section.

(II) If the administrator determines that an application is incomplete or that it is unable to make the determinations specified in subsection (5)(b)(I) of this section, the administrator shall notify the applicant in writing of the administrator's decision and shall not review any loan to determine whether the loan may be registered pursuant to subsection (5)(c) of this section.

(c) (I) To be eligible to receive a tax credit certificate pursuant to subsection (7) of this section, a qualified applicant must request that the administrator register the loan for which the tax credit application was submitted pursuant to this subsection (5). To register a loan, a qualified applicant must provide the following information to the administrator:

(A) The name of the borrower and the location where the borrower is doing business;

(B) The amount and terms of the loan issued to the borrower by the qualified applicant;

(C) The purposes for which the borrower will use the loan;

(D) An affidavit regarding how the tax credit allowed pursuant to this section induced the qualified applicant to make the loan to the borrower or improve the terms of the loan beyond what normal market conditions would provide;

(E) Certification from the borrower that the borrower will primarily use the proceeds of the loan from the qualified applicant to continue or expand the borrower's quantum business operations in Colorado;

(F) An affidavit from the borrower confirming that the borrower will adhere to existing labor protection laws; and

(G) Any other information that the administrator deems necessary.

(II) The administrator shall review the information submitted pursuant to subsection (5)(c)(I) of this section and determine whether the loan is an eligible loan. If the administrator determines that the loan that is the basis of the application submitted pursuant to this subsection (5) is an eligible loan, the administrator shall determine the amount of the registration and issuance fee described in subsection (6)(a) of this section as up to eight percent of the amount that will be specified on the tax credit certificate as described in subsection (7)(d)(I) of this section, and shall collect the fee from the qualified applicant or the borrower to which a qualified applicant made an eligible loan. Once the registration and issuance fee is collected, the administrator shall register the loan, keep records of the loan pursuant to subsection (8)(a) of this section, and may issue the tax credit certificate as specified in subsection (7) of this section. If the administrator determines that the loan that is the basis of the application submitted pursuant to this subsection (5) is not an eligible loan, the administrator shall notify the qualified applicant and shall not register the loan.

(III) The administrator may establish policies and procedures that specify additional requirements for loans to be designated as eligible loans and for loans to be registered pursuant to this subsection (5)(c).

(d) The administrator shall make the determinations specified in subsections (5)(b) and (5)(c) of this section within ninety days of the date the administrator receives the complete application and request for loan registration.

(e) The administrator may develop a process that allows a potential applicant for a tax credit pursuant to this section to provide information to the administrator regarding a loan that it plans to make to a borrower and to request that the administrator advise the potential applicant regarding whether the loan, if made, is an eligible loan that can be registered pursuant to subsection (5)(c) of this section. Any potential applicant that requests advice from the administrator pursuant to this subsection (5)(e) and then makes a loan is required to submit an application and request that the loan be registered pursuant to this subsection (5) before the administrator issues a tax credit certificate pursuant to subsection (7) of this section.

(6) Registration and issuance fee. (a) The administrator shall impose on and collect from a qualified applicant or the borrower to which a qualified applicant made an eligible loan a reasonable registration and issuance fee pursuant to subsection (5)(c)(II) of this section.

(b) The administrator shall transfer any fee revenue collected or paid to the office pursuant to this subsection (6) to the quantum business loan loss reserve cash fund created in subsection (13) of this section.

(7) Tax credit certificate - loan registration - pooled loan loss reserve. (a) To receive a tax credit certificate pursuant to this subsection (7), a qualified applicant must first apply to the administrator for the issuance of a tax credit certificate and register the loan for which the tax credit application was submitted pursuant to subsection (5) of this section.

(b) (I) On the basis of any loan that is registered pursuant to subsection (5)(c) of this section, the administrator may determine that a qualified applicant is entitled to a tax credit certificate in accordance with the provisions of this section. The administrator shall issue the tax credit certificate subject to the limitations set forth in this subsection (7) and in accordance with the policies and procedures established pursuant to subsection (12) of this section. The administrator shall not issue tax credit certificates after September 30, 2036.

(II) The administrator may, before issuing a tax credit certificate pursuant to this subsection (7), establish additional policies or procedures for a qualified applicant to be eligible for the issuance of a tax credit certificate.

(c) If the administrator issues a tax credit certificate to a qualified applicant, the administrator shall notify the qualified applicant in writing of the certificate and the amount of the certificate. The issuance of a tax credit certificate by the administrator for a qualified applicant does not entitle the qualified applicant to claim the credit until the qualified applicant has been issued a registered loan loss certificate pursuant to subsection (8) of this section.

(d) (I) Subject to the limitations in this subsection (7)(d), if approved, the administrator may issue a tax credit certificate to a qualified applicant for one or more eligible loans in an amount up to fifteen cents for every dollar of an eligible loan that the qualified applicant has made or will make.

(II) The aggregate amount of all tax credit certificates that the administrator may issue pursuant to this section must not exceed thirty million dollars.

(III) The administrator may establish policies and procedures to set the amount of the tax credit certificate issued on the basis of a registered loan at or below fifteen cents for every dollar of the registered loan or change the amount of the credit allowed from time to time for credit certificates that have not yet been issued. The administrator may also cap the total amount of any tax credit certificates issued to a qualified applicant pursuant to this subsection (7), determine a cap on the total amount of a tax credit certificate allowed to a qualified applicant for a single eligible loan to a single borrower or in the aggregate for multiple eligible loans to one or more borrowers, or determine any other caps deemed necessary by the administrator. The administrator shall make the policies and procedures specified in this subsection (7)(d)(III) based on market conditions and other factors determined to be relevant by the administrator. If the office is not the administrator, the office shall approve the administrator's final decisions on policies and procedures.

(e) The administrator shall distribute the tax credit certificates in the manner that the administrator determines pursuant to subsection (3)(c) of this section.

(f) Each qualified applicant that is issued more than one tax credit certificate pursuant to this subsection (7) shall hold the credit certificates issued to the qualified applicant in a pooled loan loss reserve of all tax credit certificates issued to that qualified applicant. A qualified applicant may use all or any portion of the credit certificates issued to that qualified applicant to offset any loss incurred by that qualified applicant in connection with one or more registered loans, subject to the provisions of subsection (8) of this section.

(g) The administrator may allow a qualified applicant to register an eligible loan pursuant to subsection (5)(c) of this section after the administrator has issued the total amount of tax credit certificates allowed pursuant to subsection (7)(d)(II) of this section or the amount of credits allowed pursuant to any other cap determined by the administrator pursuant to subsection (7)(d)(III) of this section. The administrator shall not issue a credit certificate for any loan registered pursuant to this subsection (7)(g), but the qualified lender may use any amount of tax credit certificates already issued to the qualified lender and not already claimed pursuant to subsection (9) of this section to offset any loss incurred in connection with the registered loan pursuant to subsection (8) of this section.

(8) Status of registered loans - proof of registered loan loss - issuance of registered loan loss certificate. (a) (I) A qualified applicant that was issued a tax credit certificate pursuant to subsection (7) of this section shall provide periodic updates to the administrator, in a form, manner, and frequency to be determined by the administrator, regarding the status of the registered loan that is the basis of the credit certificate. In addition to periodic updates, the qualified applicant shall notify the administrator when any registered loan is paid off, extended, renewed, restructured or refinanced, or has become past due or nonperforming. A qualified applicant that incurs a loss associated with a registered loan shall notify the administrator and comply with the requirements of subsection (8)(b) of this section before the qualified applicant is eligible to receive a loan loss certificate pursuant to subsection (8)(d) of this section.

(II) The administrator shall keep a record of the status of all registered loans made by each qualified applicant for which the administrator issued a credit certificate pursuant to subsection (7) of this section.

(b) (I) A qualified applicant that incurs a loss in connection with one or more registered loans may apply to the administrator for issuance of a registered loan loss certificate pursuant to subsection (8)(d) of this section. Before applying for a registered loan loss certificate, a qualified applicant that has incurred a loss associated with one or more registered loans shall charge off all or a portion of the outstanding balance of the registered loan in accordance with the qualified applicant's customary policies and procedures and in accordance with the requirements of federal or state regulatory agencies. The qualified applicant shall cease to assess interest on the registered loan in accordance with generally accepted accounting principles and as required by federal and state regulatory agencies and shall take reasonable actions, as determined by the administrator, to obtain partial payments and recovery, including accessing collateral and loan guarantors.

(II) A qualified applicant shall submit to the administrator, with the qualified applicant's application for a registered loan loss certificate, evidence of the qualified applicant's compliance with the provisions of subsection (8)(b)(I) of this section and evidence of the amount of the loss incurred in connection with one or more registered loans, including out-of-pocket expenses incurred by the qualified applicant in pursuing recovery of the registered loan. The applicant shall also provide documents to the administrator demonstrating that the qualified applicant satisfied any additional requirements imposed by the administrator pursuant to subsection (12) of this section.

(c) (I) Within ninety days after receipt of the complete application from the qualified applicant submitted pursuant to subsection (8)(b) of this section, the administrator shall review the qualified applicant's documentation of the loss incurred in connection with a registered loan and determine whether the documentation satisfies the requirements of subsection (8)(b) of this section. If the administrator determines that a qualified applicant has failed to comply with the requirements of subsection (8)(b) of this section, the administrator shall promptly notify the qualified applicant in writing and shall not issue a registered loan loss certificate to the qualified applicant.

(II) If the administrator determines that the documentation provided by the qualified applicant satisfies the requirements of subsection (8)(b) of this section, the administrator shall determine the total amount of the loss incurred in connection with the registered loan and certify the amount of the registered loan loss. The amount of the certified loan loss determined by the administrator shall be an amount equal to the total of the outstanding and unrecovered principal and accrued interest on the registered loan or loans and the amount of reasonable out-of-pocket expenses incurred by the qualified applicant in pursuing recovery under the registered loan or loans; except that the amount of the certified loan loss determined by the administrator shall not exceed the original principal amount of the registered loan as stated in the documentation provided when the qualified applicant registered the eligible loan. The amount of the certified loan loss shall not include any amount attributable to damages paid by the qualified applicant as a result of a legal claim against the qualified applicant for negligence, misconduct, or any other allegation of wrongdoing or any amount of late charges or unpaid default interest charges imposed on the borrower by the qualified applicant.

(d) The administrator shall issue a registered loan loss certificate to any qualified applicant that has satisfied the requirements of subsection (8)(b) of this section in the amount of the certified loan loss calculated pursuant to subsection (8)(c) of this section; except that the administrator shall not issue a registered loan loss certificate that exceeds the total amount of unclaimed tax credit certificates issued to the qualified applicant pursuant to subsection (7) of this section. The administrator shall not issue a registered loan loss certificate before January 1, 2026, or after December 31, 2045.

(9) Filing tax credit certificate and registered loan loss certificate with income tax return. (a) To claim the credit authorized by this section, a qualified applicant shall file the tax credit certificate issued by the administrator pursuant to subsection (7) of this section and the registered loan loss certificate issued by the administrator pursuant to subsection (8) of this section with the qualified applicant's state income tax return for the income tax year in which the registered loan loss occurs. If the qualified applicant is exempt from tax pursuant to section 39-22-112 (1), the qualified applicant shall file a return pursuant to section 39-22-601 (7)(b). The amount of the tax credit that a qualified applicant may claim pursuant to this section is the amount stated on the registered loan loss certificate.

(b) A qualified applicant may not claim a credit pursuant to this section for any income tax year commencing before January 1, 2026, or after December 31, 2045. Any tax credit certificates and registered loan loss certificates that the administrator issued, but for which a tax credit has not been claimed pursuant to subsection (9)(a) of this section before the tax year commencing on January 1, 2046, expire and no longer have value.

(c) A qualified applicant may claim an income tax credit allowed pursuant to this section more than once, so long as the qualified applicant has remaining tax credit certificates that it has not yet filed with the department pursuant to this subsection (9), incurs an additional loss in connection with a registered loan, and is issued a registered loan loss certificate for the additional loss pursuant to subsection (8) of this section.

(d) A registered loan loss certificate issued to a partnership, a limited liability company taxed as a partnership, or multiple owners of a property must be passed through to the partners, members, or owners, including any nonprofit entity that is a partner, member, or owner, respectively, on a pro rata basis or pursuant to an executed agreement among the partners, members, or owners documenting an alternate distribution method.

(10) Refundability. The entire tax credit to be issued pursuant to this section may be claimed by the qualified applicant in the taxable year in which the qualified applicant incurs a loss in connection with a registered loan. If the amount of the credit allowed pursuant to this section exceeds the amount of income taxes otherwise due on the income of the qualified applicant in the income tax year for which the credit is being claimed, or the qualified applicant is a person who is exempt from taxation pursuant to section 39-22-112 (1), one hundred percent of the amount of the credit not used as an offset against income taxes in the income tax year is refunded to the qualified applicant.

(11) Reporting. (a) No later than November 1, 2027, and, notwithstanding the requirement in section 24-1-136 (11)(a)(I), no later than November 1 of each year thereafter through 2046, the administrator shall provide a written report to the general assembly about the activity in connection with the tax credit allowed pursuant to this section in the previous fiscal year and shall further make the report available to the public. In connection with tax credits issued pursuant to this section, the report must include, but need not be limited to:

(I) The number of eligible loans that have been registered pursuant to subsection (7)(a) of this section;

(II) The number of registered loans for which a qualified applicant notified the administrator of a loan loss pursuant to subsection (8)(a) of this section;

(III) A list of each quantum business in the state that is a borrower pursuant to this section; and

(IV) A summary of the borrower's use or uses of each registered loan and the impact that the loans have had on the development of quantum businesses in this state.

(b) The administrator shall, in a sufficiently timely manner to allow the department to process returns claiming the income tax credit allowed in this section, provide the department with an electronic report of each qualified applicant to which the office issues a tax credit certificate and a registered loan loss certificate for the preceding tax year that includes the following information:

(I) The qualified applicant's name;

(II) The amount of the credit as stated in the registered loan loss certificate; and

(III) The qualified applicant's social security number or the qualified applicant's Colorado account number and federal employer identification number.

(12) Policies and procedures. (a) The administrator may create and modify policies, procedures, and guidelines and specify additional requirements as necessary to further implement the tax credits to be claimed for making eligible loans pursuant to this section and shall solicit advice from the department and from quantum industry participants in creating and modifying such policies, procedures, and guidelines.

(b) The administrator shall develop standards to:

(I) Make the determination of whether a loan is an eligible loan pursuant to subsection (5)(c) of this section;

(II) Determine whether an eligible loan may be registered with the administrator and whether the administrator may issue a tax credit certificate pursuant to subsection (7) of this section; and

(III) Determine the amount of a certified loan loss pursuant to subsection (8)(c)(II) of this section.

(c) The administrator may clarify the definition of quantum company when needed based on input from quantum industry companies, researchers, trade associations, and other sector participants. In addition, the administrator may waive the annual income requirement for a quantum company to be a borrower if the administrator determines that waiving that requirement is in the best interest of this state.

(13) Quantum business loan loss reserve cash fund - creation. (a) The quantum business loan loss reserve cash fund is created in the state treasury. The fund consists of money credited to the fund pursuant to subsection (6)(b) of this section and any other money that the general assembly may appropriate or transfer to the fund.

(b) The state treasurer shall credit all interest and income derived from the deposit and investment of money in the quantum business loan loss reserve cash fund to the fund.

(c) Money in the quantum business loan loss reserve cash fund is continuously appropriated to the office for the administration of the quantum business loan loss reserve tax credit created in this section.

(d) The state treasurer shall transfer all unexpended and unencumbered money in the fund on January 1, 2051, to the general fund.

(14) Repeal. This section is repealed, effective December 31, 2050.
C.R.S. § 39-21-121 — CO Code / Title 39 / Article 21 / Part 1 / Section 39-21-121
39-21-121. Unclaimed property offset - definition
Status: in_force

39-21-121. Unclaimed property offset - definition. (1) (a) The department shall periodically certify to the state treasurer, acting as the administrator of unclaimed property under the "Revised Uniform Unclaimed Property Act", article 13 of title 38, information regarding persons who are liable for the payment of taxes, penalties, or interest imposed pursuant to articles 22 to 33 of this title 39 that are delinquent and in distraint.

(b) The information described in paragraph (a) of this subsection (1) shall include the social security number or federal employer identification number, whichever is applicable, of the person owing the delinquent taxes, penalties, or interest, the amount owed, and any other identifying information required by the state treasurer.

(2) (a) Before paying a claim for unclaimed property pursuant to section 38-13-905, the state treasurer shall compare the social security number or federal employer identification number, whichever is applicable, of the claimant with those certified by the department pursuant to subsection (1) of this section. If the name and associated social security number or federal employer identification number of a claimant appears among those certified, the state treasurer shall obtain the current address of the claimant, suspend the payment of the claim, and notify the department. The notification shall include the name, home address, and social security number or federal employer identification number of the claimant.

(b) After receipt of the notification from the state treasurer that a person claiming unclaimed property pursuant to section 38-13-903 appears among those certified by the department pursuant to subsection (1) of this section, the department shall notify the person, in writing, that the state intends to offset the person's delinquent state taxes, penalties, or interest liability against the person's claim for unclaimed property.

(3) Except as otherwise provided in section 38-13-902.1 (2), upon notification by the state treasurer of the amounts of unclaimed property held pursuant to section 38-13-902.3, the department shall apply such amounts to the person's delinquent state tax liability.

(4) The department shall promulgate rules pursuant to article 4 of title 24, C.R.S., establishing procedures to implement this section.

(5) For purposes of this section, "claim for unclaimed property" means a cash claim submitted in accordance with section 38-13-903.
C.R.S. § 39-22-2105 — CO Code / Title 39 / Article 22 / Part 21 / Section 39-22-2105
39-22-2105. Parallel credits - insurance premium taxes
Status: in_force

39-22-2105. Parallel credits - insurance premium taxes. (1) Any taxpayer who is subject to the tax on insurance premiums established by sections 10-3-209, 10-5-111, and 10-6-128 and who is therefore exempt from the payment of income tax and who is otherwise eligible to claim a credit pursuant to this part 21 may claim such credit and carry such credit forward against such insurance premium tax on its calendar quarter estimated tax payments made in accordance with section 10-3-209 to the same extent as the taxpayer would have been able to claim or carry forward such credit or refund against income tax. All other provisions of this part 21 with respect to the credit, including the amount, allocation, and recapture of the credit and the years for which the credit may be claimed shall apply to a credit claimed pursuant to this section.

(2) For purposes of administering this section, any reference in this article to "income tax year" means calendar year.
C.R.S. § 39-22-538 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-538
39-22-538. Credit for health-care preceptors working in health professional shortage areas
Status: repealed

39-22-538. Credit for health-care preceptors working in health professional shortage areas - legislative declaration - definitions. (1) (a) The general assembly finds, determines, and declares that:

(I) to (III) (Deleted by amendment, L. 2022.)

(IV) The COVID-19 pandemic and subsequent economic crisis have caused significant challenges for Colorado's health-care system and exacerbated the workforce shortage across multiple disciplines and sectors of the health-care industry;

(V) While the pandemic has had lasting impacts on the entire health-care system across the state, rural Colorado is experiencing the most severe workforce turnover and shortages, and as a result these communities experience reduced access to primary care services and exhibit poorer health outcomes;

(VI) Rural communities often face challenges in recruiting an adequate health workforce, making it difficult to provide needed patient care or to meet staffing requirements for their facilities. Therefore, rural health-care facilities should be proactive and strategic about recruiting and retaining primary care personnel, which includes professionals in physical, dental, behavioral, and mental health.

(VII) Most of Colorado's forty-seven rural and frontier counties are also designated as primary care health professional shortage areas by the Colorado primary care office;

(VIII) Preceptorship programs are a critical component of clinical training and a proven approach to developing one-on-one relationships between expert professionals and students needing to develop the clinical skills and practical experience of working with patients in rural settings;

(IX) Health professional students who obtain a significant amount of their clinical training in rural communities and under the guidance of rural health-care providers are much more likely to live and work in a rural or frontier area after completing their health professional training;

(X) Recent studies and surveys by the American academy of family physicians have shown that primary care physicians are more likely to engage in preceptorships when professional recognition and financial incentives are provided; and

(XI) The general assembly therefore finds that maintaining a highly qualified and sustainable rural health-care workforce depends on the extension and expansion of the rural and frontier health-care preceptor tax credit to provide sufficient financial incentives to preceptors statewide.

(b) and (c) (Deleted by amendment, L. 2022.)

(d) In accordance with section 39-21-304 (1), which requires each bill that extends an expiring tax expenditure to include a tax preference performance statement as part of a statutory legislative declaration, the general assembly hereby finds and declares that:

(I) The general legislative purposes of the tax credit allowed by this section are:

(A) To induce certain designated behavior by taxpayers, specifically the offering of professional instruction, training, and supervision to students seeking careers as primary health-care providers in rural areas and frontier areas of the state; and

(B) To provide tax relief to preceptors in rural and frontier areas of the state who offer the professional instruction, training, and supervision described in subsection (1)(d)(I)(A) of this section; and

(II) The specific legislative purpose of the tax credit allowed by this section is to encourage preceptors to offer professional instruction, training, and supervision to students matriculating at Colorado institutions of higher education who are seeking careers as primary health-care providers in rural and frontier areas of the state. In order to allow the general assembly and the state auditor to measure the effectiveness of the credit, the department of revenue, when administering the credit, shall require each taxpayer who claims the credit to submit a certification form with each income tax return form in accordance with subsection (4) of this section. The certification form must verify that the taxpayer has satisfied the requirements for allowance of the tax credit as specified in this section and state the number of eligible health professional students that the taxpayer has instructed, trained, or supervised during the applicable income tax year.

(2) As used in this section, unless the context otherwise requires:

(a) "AHEC" or "AHEC program" means the area health education center.

(b) "Frontier area" means a county in the state that has a population density of six or fewer individuals per one square mile.

(c) Repealed.

(c.5) "Health professional student" means an individual matriculating at any accredited Colorado institution of higher education seeking a degree or certification in a primary health-care field.

(d) "Preceptor" means a medical doctor, doctor of osteopathic medicine, advanced practice nurse, physician assistant, doctor of dental surgery, doctor of dental medicine, registered nurse, registered dental hygienist, pharmacist, licensed clinical or counseling psychologist, licensed clinical social worker, licensed professional counselor, licensed marriage and family therapist, psychiatric nurse specialist, licensed addiction counselor, or certified addiction counselor working in an outpatient clinical setting who has been licensed in his or her primary health-care field in the state by the applicable licensing authority.

(e) "Preceptorship" means an uncompensated mentoring experience in which a preceptor provides a program of personalized instruction, training, and supervision for a total of not less than four consecutive or nonconsecutive working weeks or twenty consecutive or nonconsecutive business days per calendar year that is offered to eligible health professional students to enable the students to obtain eligible professional degrees or certifications.

(f) "Primary health-care" means the provision of integrated, equitable, and accessible health-care services provided by clinicians who are accountable for addressing a large majority of personal health-care needs, developing a sustained partnership with patients, and practicing in the context of family and community. Integrated health-care encompasses the provision of comprehensive, coordinated, and continuous services that provide a seamless process of care.

(g) "Rural area" means an area listed as eligible for rural health funding by the federal office of rural health policy.

(h) "Taxpayer" means a preceptor who files an income tax return under this article.

(3) (a) (I) For income tax years commencing on or after January 1, 2017, but prior to January 1, 2025, and subject to the requirements of subsection (3)(b)(I)(A) of this section, a taxpayer is allowed a credit against the income taxes imposed by this article 22 in an amount equal to one thousand dollars for a preceptorship provided by the taxpayer during the applicable income tax year for which the credit is claimed.

(II) For income tax years commencing on or after January 1, 2025, but prior to January 1, 2033, and subject to the requirements of subsection (3)(b)(I)(B) of this section, a taxpayer is allowed a credit against the income taxes imposed by this article 22 in an amount equal to two thousand dollars for each preceptorship provided by the taxpayer during the applicable income tax year for which the credit is claimed. A credit is allowed for a maximum of three preceptorships per applicable income tax year. The maximum total credit in a taxable year is six thousand dollars.

(b) Notwithstanding any other provision of this section:

(I) (A) For income tax years commencing before January 1, 2025, the aggregate amount of the credit awarded to any one taxpayer under this section shall not exceed one thousand dollars for any one income tax year regardless of the number of preceptorships undertaken by the taxpayer during the applicable income tax year or the number of eligible health professional students the taxpayer instructs, trains, or supervises during the applicable income tax year.

(B) For income tax years commencing on or after January 1, 2025, but prior to January 1, 2033, the aggregate amount of the credit awarded to any one taxpayer under this section shall not exceed six thousand dollars for any one income tax year regardless of the number of preceptorships undertaken by the taxpayer during the applicable income tax year or the number of eligible health professional students the taxpayer instructs, trains, or supervises during the applicable income tax year.

(II) A taxpayer is eligible to claim the credit allowed by this section if the taxpayer performs a preceptorship that lasts a total of not less than four consecutive or nonconsecutive working weeks or twenty consecutive or nonconsecutive business days during the income tax year in which the credit is claimed and the preceptor is practicing in the preceptor's primary health-care field in a rural or frontier area; and

(III) Not more than three hundred preceptors are entitled to claim the credit authorized by this section for any one income tax year. The department shall promulgate by rule, in accordance with article 4 of title 24, a method for determining the manner in which taxpayers who have obtained certification under subsection (4) of this section are able to claim the tax credit.

(4) To qualify for the credit provided by this section, the taxpayer shall submit a certification form with each income tax return. Certification may be provided by either the institution for which the taxpayer teaches, whether it is an institution of higher education or a hospital, clinic, or other medical facility, or by the particular regional office of the AHEC program with jurisdiction over the area in which the preceptor's medical practice is located. In the case of certification by an institution for which the taxpayer teaches, the institution must execute the form certifying that the taxpayer has satisfied the requirements for allowance of the tax credit as specified in this section and identifying the number of eligible health professional students that the taxpayer has instructed, trained, or supervised during the applicable income tax year through all preceptorships provided by the taxpayer. In the case of certification by the AHEC program, the certification form must be obtained from the particular regional office of the AHEC program with jurisdiction over the area in which the preceptor is practicing, which office shall certify that the taxpayer has satisfied the requirements for allowance of the tax credit as specified in this section and identify the number of eligible health professional students the taxpayer has instructed, trained, or supervised during the applicable income tax year through all preceptorships provided by the taxpayer. The AHEC program may charge the taxpayer a reasonable fee for providing such certification, which fee shall not exceed the actual costs incurred by the AHEC in completing the certification.

(5) Where a taxpayer claims the credit provided by this section but fails to satisfy the requirements of this section during the income tax year for which the credit is claimed, the taxpayer shall repay the entire amount of the total credit that is attributed to him or her pursuant to this section. The taxpayer shall report the recapture required by this subsection (5) by increasing his or her income tax liability by the amount of the total credit claimed for the year in which the recapture occurs.

(6) If the amount of the credit allowed pursuant to this section exceeds the amount of the income tax otherwise due on the taxpayer's income in the income tax year for which the credit is being claimed, the amount of the credit not used as an offset against income taxes in the income tax year is not allowed as a refund but may be carried forward and applied against the income tax due in each of the five succeeding income tax years, but must first be applied against the income tax due for the earliest of the income tax years possible.

(7) Nothing in this section modifies or changes the definition of "public employee" specified in section 24-10-103 (4)(b)(II) and (4)(b)(V), C.R.S.

(8) Repealed.
C.R.S. § 39-21-102 — CO Code / Title 39 / Article 21 / Part 1 / Section 39-21-102
39-21-102. Scope
Status: repealed

39-21-102. Scope. (1) Unless otherwise indicated, the provisions of this article 21 apply to the taxes or fees imposed by articles 22 to 37 of this title 39 and article 60 of title 34, section 21 of article X of the state constitution, article 3 of title 42, part 5 of article 3 of title 44, articles 11 and 20 of title 30, article 4 of title 43, article 2 of title 40, and part 2 of article 20 of title 8.

(2) The provisions of this article 21 apply to the taxes imposed pursuant to articles 3, 4, and 32 of title 44, but only to the extent that the provisions of this article 21 are not inconsistent with the provisions of articles 3, 4, and 32 of title 44.

(3) Repealed.

(4) The provisions of this article apply to grants authorized pursuant to article 31 of this title to the extent that such provisions are not inconsistent with the provisions of said article 31.

(5) The provisions of this article apply to the taxes or fees imposed pursuant to articles 1, 2, 11, and 25 of title 29, C.R.S., but only to the extent that the provisions of this article are not inconsistent with the provisions of articles 1, 2, 11, and 25 of title 29, C.R.S.

(6) The provisions of this article apply to the taxes or fees imposed pursuant to title 32, C.R.S., but only to the extent that the provisions of this article are not inconsistent with the provisions of title 32, C.R.S.

(7) The provisions of this article 21 apply to the fees imposed pursuant to part 3 of article 38.5 of title 24, article 7.5 of title 25, and the fees collected pursuant to section 40-10.1-607.5, but only to the extent that the provisions of this article 21 are not inconsistent with the provisions of part 3 of article 38.5 of title 24, article 7.5 of title 25, and section 40-10.1-607.5.

(8) The provisions of this article 21 apply to the fees imposed pursuant to the provisions of article 61 of title 33 and the fees imposed by the provisions of section 43-4-1204, but only to the extent that the provisions of this article 21 are not inconsistent with the provisions of article 61 of title 33 and the provisions of section 43-4-1204.
C.R.S. § 39-27-102.5 — CO Code / Title 39 / Article 27 / Part 1 / Section 39-27-102.5
39-27-102.5. Exemptions on tax imposed - ex-tax purchases - definition - repeal
Status: repealed

39-27-102.5. Exemptions on tax imposed - ex-tax purchases - definition - repeal.

(1) (Deleted by amendment, L. 2005, p. 866, § 2, effective July 1, 2005.)

(1.5) Except as otherwise provided in this section, diesel engine fuel and kerosene is presumed to be for use for a taxable purpose unless indelible dye meeting federal regulations is added to the diesel engine fuel or kerosene before or upon removal from a terminal. Such dyed special fuel is exempt from the excise tax imposed pursuant to this part 1. The tax-exempt special fuel shall not be used for taxable purposes; except that dyed special fuel may be used for a taxable purpose to the extent that such use is allowed under federal law or regulations with such fuel being subject to the excise tax imposed pursuant to this part 1. For purposes of this subsection (1.5), "taxable purpose" means any use on which an excise tax on special fuel is imposed pursuant to this part 1. The terminal operator shall ensure that tax-exempt special fuel is dyed before it leaves the terminal. Every seller thereafter shall give notice to any purchaser in accordance with federal regulations that the dyed special fuel may not be used for a taxable purpose.

(2) (a) Dyed diesel fuel purchased to propel farm vehicles, when the same are being used on farms and ranches, farm tractors, and implements of husbandry only incidentally operated or moved on a highway, when operated off the public highways, and vehicles or construction equipment operated within the confines of highway construction projects when the same are actually being used in the construction of such highways is exempt from the excise tax imposed pursuant to this part 1. In accordance with section 39-27-104 (1)(d.5), dyed diesel fuel may be blended by a licensed distributor with biodiesel fuel after withdrawal at a terminal up to the maximum federally allowable blend. Such blended special fuel is exempt from the excise tax imposed pursuant to this part 1, so long as it is purchased for the purposes set forth in this subsection (2)(a). A person who purchases undyed special fuel for the purposes set forth in this subsection (2)(a) may, in accordance with section 39-27-103, apply to the department of revenue for a refund of the excise tax paid thereon.

(b) (I) (Deleted by amendment, L. 2005, p. 866, § 2, effective July 1, 2005.)

(II) Gasoline and special fuel purchased by the United States or any of its agencies, the state of Colorado or any of its agencies, any town, city, county, city and county, school district of this state, or any other political subdivision of this state is exempt from the excise tax imposed pursuant to this part 1, regardless of whether the special fuel is dyed pursuant to subsection (1.5) of this section, if the gasoline or special fuel is used exclusively by the governmental entity in performing its governmental functions and activities. This exemption only applies if the gasoline or special fuel purchased by the governmental entity is used in machines owned or operated by the governmental entity. Exemptions for persons conducting business for the governmental entities on a contract basis using an aircraft must be based solely on the applicable operating certificate of the aircraft operator pursuant to subsection (2.5) of this section.

(III) (A) Any governmental entity referred to in subsection (2)(b)(II) of this section may obtain an exemption certificate from the executive director of the department of revenue pursuant to subsection (3) of this section.

(B) A distributor may sell ex-tax gasoline or special fuel to a governmental entity with a valid exemption certificate, regardless of whether the special fuel is dyed pursuant to subsection (1.5) of this section.

(C) A governmental entity with a valid exemption certificate may sell to or purchase gasoline or special fuel from another governmental entity that also has a valid tax exemption certificate. The gasoline or special fuel must be used exclusively by the purchasing governmental entity in performing its governmental functions and activities in machines owned or operated by the governmental entity. A governmental entity is required to keep a copy of the fuel tax exemption certificate on file for any entity to which it resells or distributes fuel. A governmental entity that sells gasoline or special fuel pursuant to this subsection (2)(b)(III)(C) is not required to be a licensee pursuant to section 39-27-104. Sales authorized pursuant to this subsection (2)(b)(III)(C) are intended to facilitate intergovernmental efficiencies with respect to sales for individual vehicles or equipment. This subsection (2)(b)(III)(C) does not apply to intergovernmental sales in excess of five hundred gallons in a single transaction unless required for unusual, unforeseen, or emergency circumstances.

(D) In the case of gasoline or special fuel acquired by a governmental entity upon which the tax imposed by this part 1 was paid, the governmental entity may apply to the department of revenue for a refund of the excise tax paid thereon in accordance with section 39-27-103.

(c) Any person operating a vehicle other than a qualified motor vehicle pursuant to the motor fuel tax cooperative agreement entered into under part 3 of this article may bring into this state for the operation of such vehicle only the amount of special fuel that is in the ordinary fuel tank attached to such vehicle without being liable for the payment of the tax under this part 1.

(2.5) (a) (I) Products, including kerosene, specially prepared, sold, and used in aircraft operated by scheduled air carriers or commuter airline operators exempt from the federal aviation fuels tax are exempt from the tax imposed pursuant to this part 1.

(II) Prior to January 1, 2025, gasoline used by domestic or foreign part 121 air carriers or part 135 commuter air carriers authorized to provide passenger and cargo air transportation services pursuant to the regulations of the office of the secretary of transportation and federal aviation administration of the United States department of transportation is exempt from the tax imposed pursuant to this part 1. For those air carriers that are certificated by the United States department of transportation for both part 121 air carrier operations and part 135 on-demand operations, the provisions of this subsection (2.5)(a)(II) shall not apply to the air carrier's part 135 on-demand operations.

(III) Prior to January 1, 2025, gasoline used by direct air carriers providing air transportation to authorized public charter operators pursuant to 14 CFR 380 is exempt from the tax imposed pursuant to this part 1.

(IV) Subsections (2.5)(a)(II) and (2.5)(a)(III) of this section and this subsection (2.5)(a)(IV) are repealed, effective December 31, 2028.

(b) A distributor or terminal operator may sell ex-tax gasoline or special fuel to an air carrier described in this subsection (2.5). In the case of gasoline or special fuel acquired by an air carrier described in this subsection (2.5) upon which the tax imposed by this part 1 was paid, the air carrier may apply to the department of revenue for a refund of the excise tax paid thereon in accordance with section 39-27-103.

(c) Nothing in this subsection (2.5) exempts sales of aviation fuel from the sales tax imposed under article 26 of this title 39.

(3) (a) (Deleted by amendment, L. 2021.)

(b) (I) The executive director of the department of revenue shall issue an exemption certificate to a user of gasoline or special fuel to purchase ex-tax gasoline or special fuel if the user is exempt under subsection (2) or (2.5) of this section.

(II) A distributor may sell ex-tax gasoline or special fuel pursuant to subsections (2) and (2.5) of this section. The distributor may claim a credit against the tax accrued and payable for taxes due on ex-tax gasoline or special fuel or for taxes paid on ex-tax gasoline or special fuel by such distributor in a prior taxable period. If the distributor establishes that a tax was imposed and paid under this article 27 by a licensed distributor, special fuel is allowed as a credit on the distributor's next return. To the extent the credit exceeds the tax due, the executive director of the department of revenue shall issue a refund of such excess. The manifest, bill of lading, invoice, or other similar document issued by the supplier, importer, or distributor must state that the gasoline or special fuel is sold on an ex-tax basis.

(c) With each sale of gasoline or special fuel made without payment of the tax pursuant to this subsection (3), the distributor shall secure evidence that the user is exempt from tax under this section.

(d) A distributor has the burden of proving that gasoline or special fuel is exempt from tax pursuant to this section. The department of revenue may prescribe reasonable requirements of proof for the exemption.

(4) (Deleted by amendment, L. 2000, p. 1932, § 15, effective October 1, 2000.)

(5) to (8) Repealed.

(9) Compressed natural gas used to propel a motor vehicle on the highways of this state that is supplied to the user at a residential home is exempt from the special fuel tax imposed by this article.

(10) Gasoline or special fuel removed from a terminal by a licensed exporter exclusively for delivery to another state is exempt from the tax imposed by this part 1.
C.R.S. § 39-28-106 — CO Code / Title 39 / Article 28 / Part 1 / Section 39-28-106
39-28-106. Nonresident wholesalers
Status: in_force

39-28-106. Nonresident wholesalers. (1) When the department determines that the collection of the tax imposed by the provisions of this article and section 21 of article X of the state constitution would be facilitated thereby, it may authorize any person, firm, limited liability company, partnership, or corporation outside of this state and engaged in the business of selling and shipping into this state cigarettes, upon complying with the requirements of this article, to affix or cause to be affixed the stamps, imprints, or impressions required by this article on behalf of the wholesalers within this state. The department may sell such stamps and approve the use of metering machines to such nonresident wholesalers as provided in this article; except that the nonresident wholesaler shall agree in writing to submit his or her books, accounts, and records to examination during reasonable business hours by any duly authorized agent of the department. Each such nonresident wholesaler shall appoint in writing the secretary of state of the state of Colorado to be his or her agent in this state for service of process, pursuant to part 7 of article 90 of title 7, C.R.S., with respect to foreign corporations.

(2) Any nonresident wholesaler complying with the requirements and provisions of this section shall be deemed a licensed wholesaler within the meaning of this article and shall be subject to all provisions of this article applicable to wholesalers.
C.R.S. § 39-23.5-108 — CO Code / Title 39 / Article 23.5 / Section 39-23.5-108
39-23.5-108. Payment date - extension - installment
Status: in_force

39-23.5-108. Payment date - extension - installment. (1) The tax due under this section shall be paid to the department by the person required to file not later than the date the Colorado return is required to be filed under section 39-23.5-107.

(2) If the person required to file has obtained an extension of time for payment of the federal tax or has elected to pay such tax in installments, such person may elect to extend the time for payment of the tax due under this article in accordance with such extension, or to pay such tax in installments, in the same manner as provided for payment of the federal tax. Such election shall be made by:

(a) Filing with the department at the time such tax is due a true copy of the application for extension of time for payment or the election to pay the federal tax in installments with the returns required under section 39-23.5-107; and

(b) In the case of installment payments, an agreement consenting to the creation of a special lien under subsection (5) of this section filed with the department on or before the due date for filing the Colorado return, including extensions of time for filing such return. The department may also grant extensions for the filing of such an agreement.

(3) Any person making an estimated federal estate tax payment with the federal application for extension of time for payment shall make an estimated Colorado estate tax payment to the department not later than the date the application for extension of time for payment is filed under subsection (2) of this section. A true copy of the federal extension of time for payment indicating the action taken by the internal revenue service shall be filed with the department within thirty days of issuance.

(4) Any person making the election to pay the Colorado estate tax in installments under subsection (2) of this section may not defer a percentage of such tax exceeding the percentage of federal tax actually deferred and may not defer an amount of tax greater than the tax attributable to the interest in the closely held business subject to such tax. Proof of the federal estate tax installment payment shall be submitted annually with the Colorado estate tax installment payment.

(5) (a) As used in this subsection (5):

(I) "Deferral period" means the period for which the payment of tax under this article is deferred pursuant to the election to pay such tax in installments under subsection (2) of this section.

(II) "Deferred amount" means the amount of tax under this article that is deferred pursuant to subsection (2) of this section.

(III) "Required interest amount" means the interest payable to the department over the first four years that taxes are deferred pursuant to subsection (2) of this section.

(IV) "Section 6166 lien property" means interests in real and other property to the extent that such interests can be expected to survive the deferral period and are designated in the agreement required by paragraph (b) of subsection (2) of this section consenting to the creation of a special lien under this subsection (5).

(b) In the case of installment payments, the deferred amount, plus any interest, penalties, and costs attributable to such deferred amount, shall be a special lien in favor of the state on the section 6166 lien property. Except as otherwise provided in this subsection (5) and subsection (2) of this section, such special lien shall be subject to the same conditions, limitations, definitions, terms, and other provisions of the internal revenue code as the special lien in favor of the United States under section 6324A of such code for federal estate tax deferred under section 6166 of such code. For the purpose of applying the provisions of such code to the special lien under this subsection (5), the terms defined in paragraph (a) of this subsection (5) shall have the meanings given them in such paragraph, and the term "secretary" shall refer to the department.

(c) (I) As used in this paragraph (c), "value" shall have the same meaning as it has when it is used in section 6324A (b) of the internal revenue code.

(II) The value required as section 6166 lien property shall be the deferred amount and the required interest amount. For this purpose, the deferred amount and the required interest amount shall be determined as of the date prescribed for the payment of the tax imposed by this article, and the value required as section 6166 lien property shall be determined by taking into account any encumbrances including any federal tax liens. Only property subject to the jurisdiction of the courts of this state shall be recognized in determining the value of section 6166 lien property required by this subsection (5).

(d) Except as otherwise provided in this subsection (5), the agreement referred to in this subsection (5) shall meet the requirements of the agreement referred to in section 6324A of the internal revenue code. The personal representative shall be named as agent in the agreement consenting to the special lien unless another person is named as the agent in a similar agreement filed with and accepted by the federal tax authorities. In the case that such other person is named in both such agreements, the department shall deal with such other person in matters relating to the installment payments and the special lien.

(e) The special lien shall arise when the department files notice thereof in accordance with the applicable provisions of the internal revenue code and shall continue until the deferred amount, plus any interest, penalties, and costs attributable to the deferred amount, is satisfied or such lien is released. The department may release such lien in whole or in part.

(f) (I) In the event of any default in the payment of the tax due under this article or any other act or failure to act permitting the acceleration of the payment of installments, the executive director of the department, through the attorney general, may bring and prosecute an action in the name of the state as plaintiff for the purpose of enforcing such lien against all or any of the property subject thereto in all cases where any tax has become a lien upon any property under the provisions of this article. In any such action the owner of any property, or of any interest in the property, against which the lien of any such tax is sought to be enforced, and any predecessor in interest of any such owner whose title or interest was deraigned through any such decedent by will or succession or by decree of distribution of the estate of such decedent or any lien or encumbrance subsequent to the lien of such tax may be made a party defendant.

(II) Actions may be brought against the state by any interested person for the purpose of quieting the title to any property against the lien or claim of lien of any taxes under this article or for the purpose of having it determined that any property is not subject to any lien for taxes, nor chargeable with any tax under this article. An action shall not be maintained where any proceedings are pending in any court of this state wherein the taxability of such transfer and the liability therefor, and the amount thereof, may be determined. All parties interested in said transfer and in the taxability thereof shall be made parties thereto, and any interested person who refuses to join as plaintiff therein may be a defendant. Summonses for the state in such action shall be served upon the attorney general. Should the court determine that the property described in the complaint is subject to the lien of said tax and that such property has been transferred within the meaning of this article, the court shall award affirmative relief to the state, and judgment shall be rendered therein in favor of the state ascertaining and determining the amount of such tax, the person liable, and the property chargeable or subject to the lien.

(6) The personal representative shall file notice with the department of any default in the payment of amounts or other act or failure to act with respect to the payment of the corresponding amounts of federal tax or with respect to any bonds or special liens thereon which could or do result in the termination of the extension or deferral of the payment of the federal tax under the internal revenue code. Such notice shall specify the name and account number of the estate and the nature and circumstances of such default, act, or failure to act and shall be filed within ten days of such default, act, or failure to act. The department may accelerate the payment of tax, and interest and penalties thereon, extended or deferred under subsection (2) of this section when:

(a) Any default, other act, or failure to act with respect to the payment of the corresponding amounts of federal tax results in the termination of the extension or of the deferral of the payment of such federal tax; or

(b) Any similar default, act, or failure to act occurs with respect to the payment of the tax due under this article, including any failure to timely file the notice required by this subsection (6) or, in the case of installment payments, with respect to the special lien under subsection (5) of this section, including any failure to add property as required and within the time allowed under the applicable internal revenue code provisions.
C.R.S. § 39-11-117 — CO Code / Title 39 / Article 11 / Section 39-11-117
39-11-117. Certificate of purchase
Status: in_force

39-11-117. Certificate of purchase. The treasurer shall prepare, sign, and retain for safekeeping or deliver to the purchaser of a tax lien on any real property sold for the payment of delinquent taxes a certificate of purchase describing the property on which the taxes and fees were paid by the purchaser, as the same was described in the record of sales, and also stating the rate of interest and the total amount of all taxes, delinquent interest, and fees on each tract or lot for which the tax lien was sold, as described in the record of sales, and that payment thereof has been made, with columns for subsequent taxes. For each certificate so delivered, the purchaser shall pay a fee to the treasurer as provided in section 30-1-102, C.R.S.
C.R.S. § 39-22-659 — CO Code / Title 39 / Article 22 / Part 6 / Section 39-22-659
39-22-659. Waiver, reduction, or compromise of penalty for reasonable cause
Status: in_force

39-22-659. Waiver, reduction, or compromise of penalty for reasonable cause. Upon making a record of its actions, and upon reasonable cause shown, the department may waive, reduce, or compromise a penalty imposed by this subpart 2.
C.R.S. § 39-1-106 — CO Code / Title 39 / Article 1 / Section 39-1-106
39-1-106. Partial interests not subject to separate tax
Status: in_force

39-1-106. Partial interests not subject to separate tax. For purposes of property taxation, it shall make no difference that the use, possession, or ownership of any taxable property is qualified, limited, not the subject of alienation, or the subject of levy or distraint separately from the particular tax derivable therefrom. Severed mineral interests shall also be taxed.
C.R.S. § 39-11-121 — CO Code / Title 39 / Article 11 / Section 39-11-121
39-11-121. Municipalities, prior sales validated
Status: in_force

39-11-121. Municipalities, prior sales validated. All sales of such certificates made by any treasurer or ex officio treasurer of any city, town, or city and county, antecedent to or without the passage of any ordinance prescribing the terms of such sales, are hereby approved, affirmed, ratified, and validated as of their respective dates.
C.R.S. § 39-22-1001 — CO Code / Title 39 / Article 22 / Part 10 / Section 39-22-1001
39-22-1001. Limitations on voluntary contribution programs - queue - notice - reestablishmen
Status: repealed

39-22-1001. Limitations on voluntary contribution programs - queue - notice - reestablishment of certain programs. (1) (a) Except as otherwise provided in subsection (1)(b) of this section, it is the intent of the general assembly that any program funded by voluntary contributions of income tax refunds that is created on or after June 2, 1985, shall have a sunset clause providing that the program shall apply to no more than three income tax years, unless the program is continued or reestablished by the general assembly acting by bill prior to the date that the program is scheduled to sunset.

(b) All voluntary contribution programs shall remain on Colorado income tax returns for the income tax years specified in the part in which the voluntary contribution is established and shall be repealed or reestablished as directed in such part; except that there shall be no requirement for a sunset clause for:

(I) The Colorado domestic abuse program fund voluntary contribution established in part 8 of this article 22;

(II) The homeless prevention activities program fund voluntary contribution established in part 13 of this article 22;

(III) The Special Olympics Colorado fund voluntary contribution established in part 18 of this article 22;

(IV) The western slope military veterans' cemetery voluntary contribution established in part 19 of this article 22;

(V) The pet overpopulation fund voluntary contribution established in part 22 of this article 22;

(VI) The American Red Cross Colorado disaster response, readiness, and preparedness fund established in part 43 of this article 22;

(VII) The Habitat for Humanity of Colorado fund voluntary contribution established in part 45 of this article 22;

(VIII) The donate to a Colorado nonprofit fund voluntary contribution established in part 51 of this article 22;

(IX) The Colorado healthy rivers fund voluntary contribution established in part 24 of this article 22;

(X) The Alzheimer's Association fund voluntary contribution established in part 29 of this article 22;

(XI) The military family relief fund voluntary contribution established in part 30 of this article 22;

(XII) The Colorado cancer fund voluntary contribution established in part 33 of this article 22;

(XIII) The Make-A-Wish Foundation of Colorado voluntary contribution established in part 36 of this article 22;

(XIV) The unwanted horse fund voluntary contribution established in part 38 of this article 22; and

(XV) The Colorado nongame conservation and wildlife restoration voluntary contribution established in part 7 of this article 22.

(2) to (4) (Deleted by amendment, L. 2003, p. 2060, § 2, effective May 22, 2003.)

(5) Every voluntary contribution established in this article 22 must receive a minimum dollar amount of contributions in each income tax year as follows:

(a) Except as otherwise provided in paragraphs (b) and (c) of this subsection (5), for each period running from January 1 through September 30, if the amount designated on Colorado income tax returns as contributed to any voluntary contribution established in this article does not equal or exceed fifty thousand dollars according to the records of the department of revenue, then such voluntary contribution is no longer effective and shall not be reflected on the Colorado income tax returns made for any subsequent income tax year, unless the voluntary contribution is reestablished by the general assembly pursuant to subsection (1) of this section.

(b) (I) (A) Notwithstanding subsection (5)(a) of this section, for any voluntary contribution that appears on Colorado income tax returns for the first time in the 2002 income tax year or any income tax year thereafter, the amount designated on Colorado income tax returns as contributed under any voluntary contribution established in this article 22 must equal or exceed fifty thousand dollars according to the records of the department of revenue during the January 1 through September 30 period for which moneys are collected for the third income tax year in which the voluntary contribution appears on Colorado income tax returns. Any such voluntary contribution shall not be required to collect fifty thousand dollars in either the first or the second year that it appears on Colorado income tax returns.

(B) For the purposes of sub-subparagraph (A) of this subparagraph (I), a voluntary contribution that previously appeared on income tax returns and was removed for failure to receive the requisite amount of contributions pursuant to either paragraph (a) of this subsection (5) or subparagraph (II) of this paragraph (b) is deemed to be appearing on the form "for the first time" if three income tax years or more elapses between the last year the voluntary contribution appeared on the form and the first year it is replaced on the form.

(II) If any voluntary contribution subject to the requirements of subparagraph (I) of this paragraph (b) does not equal or exceed the requisite amount of contributions for the third income tax year for which it appears on Colorado income tax returns, then the voluntary contribution shall no longer be effective and shall not be reflected on Colorado income tax returns for any subsequent income tax year, regardless of whether the voluntary contribution is reestablished by the general assembly pursuant to subsection (1) of this section.

(III) After any voluntary contribution subject to the requirements of this paragraph (b) has been on Colorado income tax returns for three years, the provisions of paragraph (a) of this subsection (5) shall apply to such voluntary contribution and the provisions of this paragraph (b) shall no longer apply.

(c) (I) Subsections (5)(a) and (5)(b) of this section shall not apply to the western slope military veterans' cemetery voluntary contribution established in part 19 of this article 22 or the donate to a Colorado nonprofit fund voluntary contribution established in part 51 of this article 22. Such voluntary contributions shall not be required to receive a minimum amount of contributions in any income tax year.

(II) (Deleted by amendment, L. 2005, p. 738, § 1, effective August 8, 2005.)

(6) Repealed.

(7) (a) No more than twenty voluntary contributions are permitted to appear on the Colorado income tax return form in any income tax year. If the general assembly, acting by bill in any year, requires more voluntary contributions to appear on the income tax return form than there are lines available on the form, an existing voluntary contribution that is renewed or continued takes precedence and must be placed on the form over a voluntary contribution that does not appear on the form. Any voluntary contribution that does not appear on the form and is not being renewed or continued but does not take effect pursuant to this subsection (7) must be placed in the queue created by subsection (8) of this section and only becomes effective in any year in which there is a line available on the income tax return form, as specified in subsection (8) of this section.

(b) Repealed.

(8) (a) If the general assembly, acting by bill in any year, requires more voluntary contributions to appear on the income tax return form than there are lines available on the form, any voluntary contribution that is to appear on the form for the first time shall, notwithstanding the language in or the effective date of the bill creating the voluntary contribution, be placed in a queue, which queue is hereby created. The order of voluntary contributions that are placed in the queue shall be determined by the date and time on which the governor signs the bill creating the voluntary contribution, or at such time that the bill becomes law without the governor's signature, with the bill that was signed or becomes law without a signature first in time being first in the queue, the bill that was signed or becomes law without a signature next in time being second in the queue, and so on.

(b) On November 1 of each year, the executive director shall certify to the revisor of statutes the amount of lines available for voluntary contributions on the income tax return form for the state income tax year commencing on January 1 of the following year.

(c) If a line becomes available on the income tax return form, and notwithstanding the language in or the effective date of the bill creating the voluntary contribution, the voluntary contribution first in the queue shall appear on the form for the number of consecutive tax years specified in the part creating the voluntary contribution beginning with the tax year immediately following the year in which the executive director certifies that there is a line available as specified in paragraph (b) of this subsection (8). If there are two lines available on the form, the voluntary contribution that is second in the queue shall appear on the form for the number of consecutive tax years specified in the part creating the voluntary contribution beginning with the tax year immediately following the year in which the executive director certifies that there are lines available as specified in paragraph (b) of this subsection (8), and so on.

(9) The department of revenue shall post and periodically update on its official website the amount of donations received for each voluntary contribution appearing on the Colorado state individual income tax return form.

(10) One year prior to the date on which a voluntary contribution program is scheduled to repeal pursuant to its sunset clause, the department of revenue shall electronically notify the organization to which that voluntary contribution program's moneys are transferred of the upcoming repeal.
C.R.S. § 39-3-112 — CO Code / Title 39 / Article 3 / Part 1 / Section 39-3-112
39-3-112. Residential property - orphanage - low-income elderly or individuals with disabi
Status: in_force

39-3-112. Residential property - orphanage - low-income elderly or individuals with disabilities - homeless or abused - low-income households - charitable purposes - exemption - limitations - definitions. (1) As used in this section, unless the context otherwise requires:

(a) "Area median income" means the median income of the county in which the property is located in relation to family size, as published annually by the United States department of housing and urban development.

(a.3) "Disabled" means that an individual is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted for a continuous period of not less than twelve months.

(a.5) "Elderly or disabled low-income residential facility" means a facility, a portion of which is operated as a residential facility for elderly individuals or individuals with disabilities who meet the requirements of sub-subparagraph (A) of subparagraph (II) of paragraph (a) of subsection (3) of this section, which portion houses only such persons, exclusive of necessary housing facilities for resident managerial personnel, and the rest of which is operated as a health-care facility which is licensed by the state of Colorado.

(b) "Family service facility" means a facility that is operated as a residential facility for single-parent families; that houses only such families, exclusive of necessary housing facilities for resident managerial personnel; that provides, in addition to housing, counseling in such areas as career development, parenting skills, and financial budgeting; and that is a child care center licensed pursuant to section 26.5-5-309.

(b.3) "Low-income household" means an individual or family whose total income is no greater than thirty percent of the area median income.

(b.5) "Low-income household residential facility" means a facility:

(I) That is operated as a residential facility for low-income households;

(II) For which the published rent schedule includes rents that a low-income household can afford by expending no more than thirty percent of the low-income household's total income for rent and utilities; and

(III) For which the owner of the facility has shown that the rent for the facility for which the exemption authorized in subsection (2) of this section applies is lower than the rent for a comparable facility for which said exemption does not apply by an amount equal to at least the value of said exemption.

(c) "Transitional housing facility" means a facility that:

(I) Is operated as a residential facility for single individuals or families, or both, who are homeless, who have resided within the past six months in a shelter for the homeless, or who have been abused, and whose incomes are as specified in sub-subparagraph (A) of subparagraph (II) of paragraph (a) of subsection (3) of this section;

(II) Has as its purpose to facilitate the achievement of independent living by such individuals and families within a twenty-four-month period; and

(III) Provides counseling in such areas as career development, parenting skills, and financial budgeting, whether at such facility or at another location.

(2) Property, real and personal, which is owned and used solely and exclusively for strictly charitable purposes and not for private gain or corporate profit shall be exempt from the levy and collection of property tax if such property is residential and is occupied, owned, and operated in accordance with the requirements set forth in subsection (3) of this section.

(3) In order for property to be exempt from the levy and collection of property tax pursuant to subsection (2) of this section, the administrator must find, pursuant to section 39-2-117, that:

(a) The residential structure is:

(I) Occupied as an orphanage; or

(II) Occupied by:

(A) Single individuals who are sixty-two years of age or older or who are disabled, or a family, the head of which, or whose spouse, is sixty-two years of age or older or is disabled, and whose incomes are within one hundred fifty percent of the limits prescribed for similar individuals or families who occupy low-rent public housing operated by a city or county housing authority which is nearest in distance to such structure; or

(B) Single-parent families whose incomes are as specified in sub-subparagraph (A) of this subparagraph (II) and who occupy a family service facility which is owned and operated by an organization which is exempt from federal income tax pursuant to the provisions of section 501 (c)(3) of the "Internal Revenue Code of 1986", as amended; or

(C) Single individuals or families who occupy a transitional housing facility which is owned and operated by an organization which is exempt from federal income tax pursuant to the provisions of section 501 (c)(3) of the "Internal Revenue Code of 1986", as amended; or

(D) Low-income households who occupy a low-income household residential facility.

(b) The residential structure is efficiently operated. Efficient operation is determined by the following factors:

(I) That the costs of operation, including salaries, are reasonable based upon the services and facilities provided and as compared with the costs of operation of any comparable public institution;

(II) That such operations do not materially enhance, directly or indirectly, the private gain of any individual except as reasonable compensation for services rendered or goods furnished;

(III) That the property on which the exemption is claimed does not exceed the amount of property reasonably necessary for the accomplishment of the exempt purpose; and

(IV) That the owners and operators of the residential structure have no occupancy requirement that discriminates upon the basis of race, creed, color, religion, sex, sexual orientation, gender identity, gender expression, marital status, national origin, or ancestry; however, if the owner or sponsoring organization is a religious denomination, said owners or operators may give preference to members of that denomination.

(c) The property is owned:

(I) By a nonprofit corporation of which:

(A) No part of the net earnings of such corporation inures to the benefit of any private shareholder; and

(B) Property owned by such corporation is irrevocably dedicated to charitable, religious, or hospital purposes and no portion of its assets will inure to the benefit of any private person upon the liquidation, dissolution, or abandonment of such corporation; or

(II) (A) With respect to residential structures specified in subsections (3)(a)(II)(A), (3)(a)(II)(C), and (3)(a)(II)(D) of this section during any compliance period, as defined by section 42 (i)(1) of the "Internal Revenue Code of 1986", as amended, including any extended use period provided under section 42 of the "Internal Revenue Code of 1986", as amended, by any domestic or foreign limited partnership of which any nonprofit corporation that satisfies the provisions of subsection (3)(c)(I) of this section is a general partner and that was formed for the purpose of obtaining, and has been allocated, low-income housing credits pursuant to section 42 of the "Internal Revenue Code of 1986", as amended.

(B) For property tax years commencing prior to January 1, 2019, this subsection (3)(c)(II) shall not apply if, during such compliance period, such domestic or foreign limited partnership which owns the residential structure distributes income or has income available for distribution to its partners or if the residential structure is sold or otherwise disposed of during such compliance period. If the administrator determines that, as specified in this subsection (3)(c)(II)(B), income has been distributed or has been available for distribution or the residential property has been sold or otherwise disposed of, the administrator shall revoke the property tax exemption for the residential property and property taxes shall be levied and collected against the residential property which would have otherwise been levied and collected from the date on which the exemption was initially granted plus all delinquent interest as provided for by law.

(B.5) For property tax years commencing on or after January 1, 2019, this subsection (3)(c)(II) shall not apply if, during such compliance period, such domestic or foreign limited partnership which owns the residential structure distributes income or has income available for distribution to its partners or if the residential structure is sold or otherwise disposed of during such compliance period. If the administrator determines that, as specified in this subsection (3)(c)(II)(B.5), income has been distributed or has been available for distribution or the residential property has been sold or otherwise disposed of, the administrator shall either revoke the property tax exemption for the residential property as of the date income becomes available for distribution or terminate the exemption as of the date the property is transferred.

(C) The provisions of this subparagraph (II) shall apply to applications for exemption made pursuant to section 39-2-117 which are filed on and after January 1, 1991, or which are pending on said date; or

(III) (A) With respect to residential structures specified in sub-subparagraphs (A), (C), and (D) of subparagraph (II) of paragraph (a) of this subsection (3), by any domestic or foreign limited partnership of which all of the general and limited partners are nonprofit corporations that satisfy the provisions of subparagraph (I) of this paragraph (c).

(B) The provisions of this subparagraph (III) shall apply to applications for exemption made pursuant to section 39-2-117 which are filed on or after January 1, 1993, or which are pending on said date; or

(IV) (A) With respect to elderly or disabled low-income residential facilities or low-income household residential facilities, during any compliance period, as defined by section 42 (i)(1) of the "Internal Revenue Code of 1986", as amended, including any extended use period provided under section 42 of the "Internal Revenue Code of 1986", as amended, by any domestic or foreign limited partnership so long as each of the general partners of such limited partnership is a for-profit corporation, seventy-five percent or more of the outstanding voting stock of which is owned by, and seventy-five percent or more of the members of the board of directors of which is elected by, one or more nonprofit corporations that satisfy the provisions of subsection (3)(c)(I) of this section and so long as such limited partnership was formed for the purpose of obtaining, and the structure that is owned by such limited partnership has been allocated, low-income housing credits pursuant to section 42 of the "Internal Revenue Code of 1986", as amended.

(B) The provisions of this subparagraph (IV) shall not apply if, during any compliance period: Any of the general partners of the domestic or foreign limited partnership which owns the residential structure specified in sub-subparagraph (A) of this subparagraph (IV) cease to meet the requirements specified in sub-subparagraph (A) of this subparagraph (IV); the domestic or foreign limited partnership which owns such residential structure distributes cash or other property to its partners; or such residential structure is sold or otherwise disposed of.

(C) Upon a determination by the administrator that any of the events specified in sub-subparagraph (B) of this subparagraph (IV) have occurred, the administrator shall revoke the property tax exemption for the residential facility specified in sub-subparagraph (A) of this subparagraph (IV), and property taxes shall be levied and collected against such residential facility in the amount which would have otherwise been levied and collected from the date on which such exemption was initially granted, and all delinquent interest provided by law shall apply to such taxes.

(D) The provisions of this subparagraph (IV) shall apply to applications for exemption made pursuant to section 39-2-117 which are filed on or after January 1, 1993, or which are pending on such date.

(4) In the event the occupants of the residential structure include both persons who are qualified pursuant to paragraph (a) of subsection (3) of this section and persons who are not qualified, the portion of such residential structure that is utilized by qualified occupants shall be deemed to be property used solely and exclusively for strictly charitable purposes and not for private gain or corporate profit, and such portion, but only such portion, shall be exempt pursuant to the provisions of subsection (2) of this section. The determination as to what portion of such structure is so utilized shall be made by the administrator on the basis of the facts existing on the annual assessment date for such property, and the administrator shall have the authority to determine a ratio which reflects the value of the nonexempt portion of such structure in relation to the total value of the whole structure and the land upon which such structure is located and which is identical to the ratio of the number of residential units occupied by nonqualified occupants to the total number of occupied residential units in such structure.

(4.5) No requirement shall be imposed that use of property which is otherwise exempt pursuant to the provisions of this section shall benefit the people of Colorado in order to qualify for said exemption.

(5) Any exemption claimed pursuant to the provisions of this section shall comply with the provisions of section 39-2-117.

(6) For purposes of processing applications received for the exemption authorized by subsection (2) of this section for low-income household residential facilities, the department of local affairs shall contract with an independent contractor for the performance of the application processing services in accordance with section 24-50-504, C.R.S. Said contract shall be limited to a term of one year and shall commence when the exemption for low-income household residential facilities first becomes available.
C.R.S. § 39-21-106 — CO Code / Title 39 / Article 21 / Part 1 / Section 39-21-106
39-21-106. Compromise
Status: in_force

39-21-106. Compromise. (1) The executive director or the executive director's delegate may compromise any civil or criminal case arising under any tax or charge administered pursuant to this article 21 prior to reference to the department of law for prosecution or defense; and the attorney general or the attorney general's delegate shall, upon the written direction of the executive director, compromise any such case after reference to the department of law for prosecution or defense.

(2) Whenever a compromise of two thousand five hundred dollars or more is made by the executive director or his delegate in any case, there shall be placed on file in the office of the executive director or his delegate the opinion of the director with his reasons therefor, which may include financial inability of the taxpayer to pay a greater amount, with a statement of:

(a) The amount of tax assessed;

(b) The amount of interest, additional amount, addition to the tax, or assessable penalty imposed by law on the person against whom the tax is assessed; and

(c) The amount paid in accordance with the terms of the compromise.

(3) Notwithstanding the provisions of subsection (2) of this section, no such opinion shall be required with respect to the compromise of any civil case in which the unpaid amount of tax assessed, including any interest, additional amount, addition to the tax, or assessable penalty, is less than two thousand five hundred dollars.
C.R.S. § 39-21-301 — CO Code / Title 39 / Article 21 / Part 3 / Section 39-21-301
39-21-301. Legislative declaration
Status: in_force

39-21-301. Legislative declaration. (1) The general assembly hereby finds and declares that:

(a) The general assembly uses both direct expenditure of government funds and special or selective tax relief, which is known as a tax expenditure, to further various public policy goals;

(b) A tax expenditure differs from a direct spending program because a direct spending program continues only if funds are appropriated for each budget period, while the continuation of a tax expenditure generally does not require any legislative action;

(c) In addition, a direct spending program is generally detailed on the expenditure side of the budget, but a tax expenditure is simply included on the revenue side of the budget without itemization;

(d) A tax expenditure should receive a periodic and comprehensive review as to its total cost and effectiveness in achieving its objectives;

(e) It is important that state government be accountable and transparent in such a way that the general public can understand the value of tax expenditures given by the state; and

(f) In the past, the department of revenue has published a Colorado tax profile study, which included a substantial amount of useful information about state and local taxes.

(2) In enacting this part 3, it is the intent of the general assembly to create a means for providing the general assembly and the public with this vital tax-related information in a biennial tax profile and tax expenditure report.

(3) The general assembly must spend its resources wisely and it is beneficial to the state to know whether the tax expenditures that are in place are accomplishing the goals they were intended to meet. In enacting section 39-21-305, it is the intent of the general assembly that the state auditor's evaluation will provide the state with factual evidence of whether the state's tax expenditures achieve the objectives they are intended to achieve, including economic development, assisting beneficiaries, and promoting the health, safety, and welfare of the public, including the business environment. Additionally, it is the intent of the general assembly that the state auditor's evaluation:

(a) Compares the state's tax expenditures with other state's tax expenditures;

(b) Compares the effect of the state's tax expenditures on competition;

(c) Measures the effect of the state's tax expenditures on business and stakeholder needs;

(d) Determines whether the state's tax expenditures are administered efficiently and transparently with defined performance measures that support accountability; and

(e) Analyzes how the state's tax expenditures serve the public's interests by protecting taxpayer dollars and how the state's tax expenditures ensure cost-effectiveness.
C.R.S. § 39-5-132 — CO Code / Title 39 / Article 5 / Part 1 / Section 39-5-132
39-5-132. Assessment and taxation of new construction
Status: in_force

39-5-132. Assessment and taxation of new construction. (1) The general assembly hereby finds and declares that it is a matter of statewide concern that revenues from property taxes on newly constructed buildings may need to be put to special use in order to accommodate the capital needs resulting from such new construction, especially to accommodate the capital needs of the public schools in this state. The general assembly further declares that it is essential that such revenue be available as soon as possible after the time such new construction is put to use. The general assembly further finds and declares that the board of county commissioners is the appropriate governmental unit to determine the extent of the growth within the county and the finding of severe growth impact shall be at the sole discretion of the board.

(2) (a) (I) (A) If the board of county commissioners determines that a county is becoming severely impacted by residential growth, the board of county commissioners shall make a finding of severe growth impact based upon the rate of increase in the county of the number of residential units being constructed within the county and an increase in pupil enrollment in school districts within the county such that at least one school district in the county meets the growth criteria described in sub-subparagraph (E) of this subparagraph (I), and other factors which indicate patterns of growth and growth impact, and shall, on or before January 1, resolve to implement the assessment and levy procedures required under this section. When a board of county commissioners makes such resolution, the provisions of this section shall apply countywide notwithstanding any law to the contrary. The board of county commissioners shall not make a finding of severe growth impact unless the number of residential units in the county will increase by over two percent during the county's current fiscal year. The board of county commissioners may negotiate with taxing authorities in the county to provide the costs of implementing the assessment and levy procedures required under this section. Notwithstanding any other provision of law to the contrary, any such taxing authority is hereby authorized to use moneys from its general fund to provide the costs specified in this subparagraph (I) and to deposit any moneys received as reimbursement pursuant to subsection (4) of this section into its general fund.

(B) Whenever construction occurs on any new taxable building within the boundaries of a county after January 1 of a given year, the assessor shall value the building on July 1 of that year, and the assessor shall add the valuation for assessment thereof to the abstract of assessment for such tax year, except that portion of the valuation for assessment as is excluded by paragraph (b) of this subsection (2). If the building is complete on July 1, such valuation for assessment shall be prorated at the same ratio as the number of months it is completed bears to the full year. Otherwise, the valuation added to the abstract shall be one-half of the difference between the valuation for assessment on January 1 and the valuation for assessment on July 1. For the purposes of this section, the total valuation for assessment of all newly constructed taxable buildings in a county as calculated pursuant to this subsection (2) shall be known as the "growth valuation for assessment" for such county. For purposes of this section, completion shall be considered to be when a certificate of occupancy is issued, when the building is ready for use, or after the final inspection, at the sole discretion of the county assessor. As used in this section, "building" means a roofed and walled real property improvement, and any uncertainty concerning whether or not a particular real property improvement is a building within the meaning of this definition shall be resolved by the property tax administrator.

(C) The assessor shall give written notification of the valuation of such newly constructed taxable building to the taxpayer. The notice shall, at a minimum, set forth the valuation on the assessment date, the prorated valuation of the newly constructed taxable building, and the total valuation for the property tax year. The notice shall also advise the taxpayer that he may protest and appeal the valuation of the newly constructed taxable building at the same time and in the same manner, pursuant to section 39-5-122, as the total valuation of his property for the next property tax year may be appealed. If the taxpayer is successful in the protest or appeal, the amount in excess shall be refunded directly to the taxpayer by the county treasurer.

(D) In order to promote the most efficient administration of this section, each county or municipality shall ensure that any office or agency that received information relative to the state of completion of new taxable buildings shall promptly transmit such information to the county assessor. After January 1, 1987, the property tax administrator shall transmit to the assessor in August of each year both the assessed value of any newly constructed buildings owned by public utility companies and their state of completion on July 1 as well as their value on the previous January 1.

(E) The growth criteria for school districts for purposes of sub-subparagraph (A) of this subparagraph (I) shall be whether the commissioner of education or the commissioner's designee certifies that the pupil enrollment of the district for the past three years, as determined on October 1 of each year in accordance with former section 22-53-103 (7) or section 22-54-103 (10), has increased by three percent or more over each preceding year for those districts with pupil enrollments of at least one thousand pupils or by twenty-five or more pupils each year for those districts with pupil enrollments of less than one thousand pupils.

(II) All general property taxes which are levied on all other taxable real and personal property within a county in the tax year during which such construction occurs shall also be levied against the growth valuation for assessment of such county for collection the following year. Revenues raised from taxes levied on such growth valuation for assessment shall be credited to the county's capital growth fund, which each board of county commissioners shall establish, for use and distribution pursuant to subsection (4) of this section. The actual value and valuation for assessment of such newly constructed taxable building for subsequent years shall be the actual value and valuation for assessment as determined by the provisions of law other than this section, and tax revenues attributable thereto shall be distributed as provided by law without regard to this section.

(b) The provisions of this section shall not apply to that portion of the valuation for assessment of a newly constructed taxable building and the land underlying such building which is contained in the abstract of assessment on the assessment date.

(c) If the newly constructed taxable building is a residential unit, the assessment percentage to be applied to the land underlying such building shall be based on a residential classification of the land. If the land underlying such building was classified as vacant land, the classification shall be changed to residential on the abstract of assessment for the tax year in which the assessor added the valuation of the newly taxable residential building to the abstract for assessment.

(3) By August 25 of each year, the assessor shall notify the board of county commissioners of the amount of the growth valuation for assessment of the county for that tax year, the percentage that such growth valuation for assessment bears to the total valuation for assessment of the county for such tax year, the portion of such growth valuation for assessment that is attributable to newly constructed taxable buildings within the boundaries of each taxing authority in the county, and the percentage that such portion bears to the total valuation for assessment of each taxing authority in which such newly constructed taxable buildings are located.

(4) Upon collection of taxes on the growth valuation for assessment in the first year, the board of county commissioners shall reimburse the county general fund and the taxing authorities which contributed to the costs of implementing the procedures specified pursuant to this section and shall also pay into the county general fund the projected budgeted costs of implementation in this second year. The remaining moneys shall be distributed to the taxing authorities as next specified in this subsection (4). In the second and subsequent years that procedures are implemented pursuant to this section, the board of county commissioners, after depositing into the county general fund the projected budgeted costs of administering this section in the current year, shall distribute the moneys in the county's capital growth fund to the taxing authorities where the newly constructed taxable building is actually located in the same manner as all other property tax revenues collected on similar taxable buildings are distributed; except that such moneys shall be used by the taxing authority for capital expenditures only and not for operating expenses. Every taxing authority receiving funds pursuant to this subsection (4) shall make capital expenditures so that they benefit the taxing authority within the county levying on the growth valuation for assessment pursuant to this section, unless such governing body finds a compelling reason for making expenditures so that they benefit the taxing authority within another county.

(5) Money received by a school district pursuant to this section must be deposited in the district's capital reserve fund and must not be included in calculating the amount of revenue that a district is entitled to receive from the property tax levy for the general fund of the district under the "Public School Finance Act of 2025", article 54 of title 22.

(6) When the board of county commissioners determines that a county is no longer being severely impacted by residential growth, the board of county commissioners shall so find and shall, on or before January 1, resolve to end implementation of the assessment and levy procedures required under this section.

(7) Nothing in this section affects tax increment financing implemented pursuant to sections 31-25-107 (9), 30-31-109 (13), and 31-25-807 (3), nor the distribution of specific ownership taxes pursuant to section 42-3-107 (24).