C.R.S. § 39-22-554 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-554
39-22-554. Heat pump technology and thermal energy network tax credit - tax preference perf
Status: repealed

39-22-554. Heat pump technology and thermal energy network tax credit - tax preference performance statement - legislative declaration - definitions - repeal. (1) (a) 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 the purpose of the tax credit provided in this section is to induce certain designated behavior by taxpayers and to provide a reduction in income tax liability for certain businesses or individuals by providing a financial incentive for the installation of heat pump technology and the use of heat pump technology and thermal energy networks.

(b) The general assembly and the state auditor shall measure the effectiveness of the credit in achieving the purpose specified in subsection (1)(a) of this section based on the number and value of the credits claimed.

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

(a) (I) "Air-source heat pump system" means a system that:

(A) Is certified pursuant to the federal environmental protection agency's energy star program;

(B) Repealed.

(C) Is listed in the Air-conditioning, Heating, and Refrigeration Institute directory of certified product performance as a matched system;

(D) Conforms to all applicable municipal, state, and federal codes, standards, regulations, and certifications; and

(E) Is installed in accordance with the manufacturer's specifications.

(II) "Air-source heat pump system" may include supplemental heat so long as:

(A) The air-source heat pump is used as the primary source of a building's heat and is designed to supply at least eighty percent of total annual heating for the building; and

(B) The system is capable of distributing produced heat to all conditioned areas of the building.

(III) Repealed.

(b) "Applicable percentage" means a percentage annually established by the office as specified in subsection (4) of this section.

(c) (I) "Campus" means a collection of two or more buildings that are owned and operated by the same person, that have a shared purpose and function as a single property, that do not lease space to tenants, and that do not provide energy or heat services for a fee.

(II) "Campus" includes two or more of the buildings that comprise the capitol complex, as defined in section 24-82-101 (3)(f).

(c.5) "Cold-climate heat pump" means a type of air-source heat pump system that:

(I) Meets the qualification criteria of the federal environmental protection agency's Energy Star program's cold-climate heat pump designation or meets the highest tier of the Consortium for Energy Efficiency's northern air-source heat pump specifications, not including an advanced tier;

(II) Is installed with controls that set a crossover temperature specified by guidelines established by the office pursuant to subsection (7) of this section;

(III) Conforms to all applicable municipal, state, and federal codes, standards, regulations, and certifications;

(IV) Is installed in accordance with the manufacturer's specifications; and

(V) Is listed in the Air-conditioning, Heating, and Refrigeration Institute directory of certified product performance as a matched system.

(d) "Colorado energy office" or "office" means the Colorado energy office created in section 24-38.5-101.

(d.5) "Crossover temperature" means the point that a heat-pump-based HVAC system switches either partially or fully from the heat pump to a supplementary heating source.

(e) "Department" means the department of revenue.

(f) "Eligible taxpayer" means a taxpayer that meets the requirements for and is included on the list of eligible taxpayers described in subsection (5) of this section.

(g) (I) "Ground-source heat pump system" means a system that:

(A) Is certified pursuant to the federal environmental protection agency's energy star program;

(B) Conforms to all applicable municipal, state, and federal codes, standards, regulations, and certifications;

(C) Has blowers that are high-efficiency motors that meet or exceed efficiency levels listed in the National Electrical Manufacturers Association MG 1-1993 publication;

(D) Complies with all state and local drinking water guidelines and regulations and public water system requirements; and

(E) Is installed in accordance with the manufacturer's specifications.

(II) "Ground-source heat pump system" may include supplemental heat so long as:

(A) The ground-source heat pump is used as the primary source of a building's heat and is designed to supply at least eighty percent of total annual heating for the building; and

(B) The system is capable of distributing produced heat to all conditioned areas of the building.

(III) and (IV) Repealed.

(h) "Heat pump technology" means an air-source heat pump system, ground-source heat pump system, water-source heat pump system, variable refrigerant flow heat pump system, any combination of these systems, or a heat pump water heater.

(i) (I) "Heat pump water heater" means an electric water heater that uses heat pump technology to transfer heat from the surrounding air to water in a tank and that is certified pursuant to the federal environmental protection agency's Energy Star program.

(II) "Heat pump water heater" may include:

(A) An electric resistance heating element; and

(B) Mechanical and electrical equipment central to the operation of a heat pump water heater, including an upgraded electrical panel if necessary.

(i.5) "Heat pump" means an electrically powered mechanical device that uses the refrigeration cycle to transfer thermal energy from one location to another.

(j) "List" means the list of eligible taxpayers created by the office as specified in subsection (5) of this section.

(k) "Multifamily property" means a building with multiple separate housing units for residential inhabitants including a residential building that is a duplex, triplex, or multi-structure of four or more units.

(l) "Taxpayer" means a person subject to tax pursuant to this article 22 or a person or political subdivision of this state that is exempt from tax pursuant to section 39-22-112 (1).

(m) (I) "Thermal energy" means piped, noncombustible fluids used for adding or removing heat from buildings for the purpose of efficient building temperature control and domestic hot water, including space heating and cooling and refrigeration.

(II) "Thermal energy" includes methods of exchanging the piped, noncombustible fluids through the ground, wastewater treatment facilities, or other sources that achieve desired fluid temperatures; except that any source of thermal energy for this purpose must:

(A) Not cause incremental greenhouse gas emissions or rely on increased, long-term combustion of fossil fuels; and

(B) Be evaluated by the office to protect against increased emissions of harmful co-pollutants, negative impacts to communities including to disproportionately impacted communities, as defined in section 24-4-109 (2)(b)(II), and the risk of stranded assets, if the thermal energy is from any industrial source including a system for which the primary purpose is to generate electricity, including any process involving engine-driven generation.

(n) "Thermal energy network":

(I) Means all real estate, fixtures, and personal property that are operated, owned, used, or intended to be used for, in connection with or to facilitate, a distribution infrastructure project that supplies thermal energy to two or more buildings that are not a campus and that assists in reducing greenhouse gas emissions in the state;

(II) Consists of pipe loops between multiple buildings and energy sources carrying piped, noncombustible fluids at the desired thermal temperature;

(III) Includes a network that can be used for heating, cooling, and other building services; and

(IV) May also be known as a geothermal exchange district, networked geothermal system, geoexchange system, geogrid system, community geothermal heating and cooling district, or geothermal heating district.

(o) "Thermal energy system" includes a geothermal system or other method of exchanging the piped, noncombustible fluids through the ground, wastewater treatment facilities, or other sources of thermal energy that achieve desired fluid temperatures.

(p) (I) "Variable refrigerant flow heat pump system" means a system that:

(A) Is certified pursuant to the federal environmental protection agency's energy star program;

(B) Conforms to all applicable municipal, state, and federal codes, standards, regulations, and certifications;

(C) Has blowers that are high-efficiency motors that meet or exceed efficiency levels listed in the National Electrical Manufacturers Association MG 1-1993 publication;

(D) Complies with all state and local drinking water guidelines and regulations and public water system and wastewater system requirements; and

(E) Is installed in accordance with the manufacturer's specifications.

(II) "Variable refrigerant flow system" may include supplemental heat so long as:

(A) The variable refrigerant flow system is used as the primary source of a building's heat and is designed to supply at least eighty percent of the total annual heating for the building; and

(B) The system is capable of distributing produced heat to all conditioned areas of the building.

(III) Repealed.

(q) (I) "Water-source heat pump system" means a system that:

(A) Is certified pursuant to the federal environmental protection agency's Energy Star program;

(B) Conforms to all applicable municipal, state, and federal codes, standards, regulations, and certifications;

(C) Has blowers that are high-efficiency motors that meet or exceed efficiency levels listed in the National Electrical Manufacturers Association MG 1-1993 publication;

(D) Complies with all state and local drinking water guidelines and regulations and public water system and wastewater system requirements; and

(E) Is installed in accordance with the manufacturer's specifications.

(II) "Water-source heat pump system" may include supplemental heat so long as:

(A) The water-source heat pump is used as the primary source of a building's heat and is designed to supply at least eighty percent of the total annual heating for the building; and

(B) The system is capable of distributing produced heat to all conditioned areas of the building.

(III) Repealed.

(3) (a) For income tax years commencing on or after January 1, 2024, but before January 1, 2033, an eligible taxpayer that installs heat pump technology in a building in the state, on a campus in the state, or develops, through purchase and installation of necessary equipment, a thermal energy network in the state is allowed a credit against the tax imposed under this article 22 in an amount set forth in subsection (3)(c) of this section in the tax year that the heat pump technology or thermal energy network is placed into service.

(b) In order to qualify for the tax credit allowed under this section the eligible taxpayer shall provide a discount from the amount charged for the installation of heat pump technology or a thermal energy network in an amount equal to the amount of the credit set forth in subsection (3)(c) of this section minus the applicable percentage of the credit, and shall show the discount as a separate item on the receipt or invoice; except that the requirement in this subsection (3)(b) does not apply to an eligible taxpayer who installs their own heat pump technology or thermal energy network.

(c) Subject to the modifications set forth in subsection (3)(d) of this section and the annual review required pursuant to subsection (3)(e) of this section and except as otherwise provided in subsection (3)(f) of this section, the amount of the credit allowed pursuant to this section is calculated as follows:

(I) For the installation of an air-source heat pump system or for a variable refrigerant flow heat pump system:

(A) For tax years commencing on or after January 1, 2024, but before January 1, 2026, one thousand five hundred dollars;

(B) For tax years commencing on or after January 1, 2026, but before January 1, 2029, one thousand dollars; and

(C) For tax years commencing on or after January 1, 2029, but before January 1, 2033, five hundred dollars;

(II) For the installation of a ground-source heat pump system, water-source heat pump system, a combined air-source and ground-source heat pump system, a combined water-source and ground-source heat pump system, a combined variable refrigerant flow and ground-source heat pump system, or a combined variable refrigerant flow and water-source heat pump system:

(A) For tax years commencing on or after January 1, 2024, but before January 1, 2026, three thousand dollars;

(B) For tax years commencing on or after January 1, 2026, but before January 1, 2029, two thousand dollars; and

(C) For tax years commencing on or after January 1, 2029, but before January 1, 2033, one thousand dollars; and

(III) For the installation of a heat pump water heater:

(A) For tax years commencing on or after January 1, 2024, but before January 1, 2026, five hundred dollars; and

(B) For tax years commencing on or after January 1, 2026, but before January 1, 2033, two hundred fifty dollars.

(d) Notwithstanding the amounts set forth in subsection (3)(c) of this section, the amount of the credit allowed by this section may be modified as follows:

(I) For heat pump technology installed at a multifamily property, unless the heat pump technology is installed for an individual unit by the eligible taxpayer for use by the occupant of the individual unit, the amount of the credit is the amount of the credit permitted pursuant to subsection (3)(c) of this section multiplied by the number of units in the multifamily property that will utilize the heat pump technology;

(II) For a nonresidential building, the amount of the credit is the amount of the credit permitted pursuant to subsection (3)(c) of this section multiplied by the number of increments of four tons of heating capacity; and

(III) For a thermal energy network or for a campus, the amount of the credit is the amount of the credit permitted pursuant to subsection (3)(c) of this section multiplied by the total number of residential buildings and multifamily property units networked in a single system, plus the credit determined for each nonresidential building networked in the system pursuant to subsection (3)(d)(II) of this section.

(e) The office shall annually review and evaluate the effectiveness of the tax credits and may, for the subsequent tax year:

(I) Modify the amounts set forth in subsection (3)(c) of this section; and

(II) Establish, modify, or remove limits on the credits calculated pursuant to subsection (3)(d) of this section.

(f) If the June 2025 revenue forecast, and each June revenue forecast through the June 2031 revenue forecast as prepared by either legislative council staff or the office of state planning and budgeting, projects that state revenues, as defined in section 24-77-103.6 (6)(c), will not increase by at least four percent for the next fiscal year, the amount of the credit allowed pursuant to subsection (3)(c)(I)(B), (3)(c)(I)(C), (3)(c)(II)(B), (3)(c)(II)(C), or (3)(c)(III)(B) of this section, as may be modified by subsections (3)(d) and (3)(e) of this section, for any tax year commencing in the calendar year that begins during said next fiscal year is reduced by fifty percent if the heat pump technology is installed at an existing residential or nonresidential building; except that if the amount of the reduced credit is equal to or less than two hundred fifty dollars, then no credit is available for such a tax year.

(4) An eligible taxpayer may retain an applicable percentage of the amount of the tax credit allowed under subsection (3)(c) of this section to support the industry-wide adoption and deployment of heat pump technologies in the state. The office shall annually determine the applicable percentage, which must be the same for each eligible taxpayer, pursuant to guidelines established by the office. The office shall maintain the current applicable percentage on its website and shall provide the applicable percentage in writing to the department no later than December 31, 2023, and each December 31 thereafter through December 31, 2031.

(5) (a) The office shall create, and update at least annually, a list containing the names and contact information of eligible taxpayers. To become an eligible taxpayer, and be included on the list described in this subsection (5), a taxpayer shall demonstrate to the office that the taxpayer and any of its employees who will be installing heat pump technology or thermal energy networks:

(I) Are licensed as required by the state;

(II) Are knowledgeable of and agree to follow the relevant system requirements set forth in subsections (2)(a), (2)(c.5), (2)(g), (2)(h), (2)(i), (2)(m), (2)(n), (2)(p), and (2)(q) of this section;

(III) Repealed.

(III.5) Have received training pursuant to the guidelines issued by the office pursuant to subsection (7) of this section;

(IV) Will, where applicable, ensure that all piping for a split system is installed by technicians certified to the NITC R78 brazing procedure and trained in the safe handling of flammable refrigerants; and

(V) Will meet any additional standards established by the office in its guidelines.

(b) The office shall, in a sufficiently timely manner to allow the department to process returns claiming the income tax credit allowed in this section, annually provide a secure electronic copy of the list described in subsection (5)(a) of this section to the department that includes the social security number or Colorado account number and federal employer identification number of each eligible taxpayer.

(c) The office shall maintain a current copy of the list on its website.

(d) (I) Every eligible taxpayer shall keep and maintain for a period of four years such books and records as may be necessary to determine that:

(A) It is an eligible taxpayer;

(B) It and any of its employees who will be installing heat pump technology or thermal energy networks meet the requirements described in subsection (5)(a) of this section;

(C) The credit it claimed pursuant to this section was for the installation of heat pump technology or thermal energy networks in this state; and

(D) The amount of the credit was properly calculated under subsection (3) of this section.

(II) (A) The office shall periodically examine a sample of the eligible taxpayers on the list described in this subsection (5) to substantiate that the eligible taxpayers are meeting the office's standards and properly claiming the credit allowed by this section. Every eligible taxpayer shall produce the books and records described in subsection (5)(d)(I) of this section for examination at any time by the office.

(B) If the office determines that an eligible taxpayer is no longer meeting the standards, the office shall notify the taxpayer in writing that they are no longer eligible, remove the ineligible taxpayer from the list, update the list on its website, and promptly notify the department in writing of its decision.

(C) If the office determines that a taxpayer was not eligible for all or part of the credit claimed, the office shall notify the department in writing of its decision. The department shall issue the taxpayer a notice of deficiency for the unpaid tax owed, together with applicable penalties and interest, and proceed to collect the deficiency in the same manner as other tax deficiencies.

(6) The office shall maintain a database of any information necessary to evaluate the effectiveness of the tax credit allowed in this section in meeting the purpose set forth in subsection (1)(a) of this section, and shall provide such information, and any other information that may be needed, to the state auditor as part of the state auditor's evaluation of this tax expenditure pursuant to section 39-21-305.

(7) The office may establish guidelines to implement this section. All guidelines established by the office must be posted on the office's website.

(8) If a credit authorized by this section exceeds the income tax due on the income of the eligible taxpayer for the taxable year, the excess credit may not be carried forward and must be refunded to the eligible taxpayer or the installer.

(9) This section is repealed, effective December 31, 2038.
C.R.S. § 39-12-108 — CO Code / Title 39 / Article 12 / Section 39-12-108
39-12-108. Payment of redemption money
Status: in_force

39-12-108. Payment of redemption money. All moneys received by the treasurer for the redemption of lands under the provisions of section 39-12-104 shall be paid over to the person to whom the tax lien on such land was sold or a tax deed was issued, or those claiming under him, on his deliverance to the treasurer, for the use of the person redeeming the same, a quitclaim deed of all the title to such land acquired under the sale, duly executed and acknowledged.
C.R.S. § 39-1.5-103 — CO Code / Title 39 / Article 1.5 / Section 39-1.5-103
39-1.5-103. Authorization of prepayment of taxes for capital improvements to local governmen
Status: in_force

39-1.5-103. Authorization of prepayment of taxes for capital improvements to local governments - no effect on obligation to pay taxes to other local governments. (1) An owner of an operation may prepay moneys to one or more local governments, within the boundaries of which is located taxable property of the operation, for credit against general property taxes which will be levied in the future pursuant to articles 1 to 13 of this title. Said moneys shall be expended on capital improvements which are directly or indirectly related to the additional public service demands created by the operation.

(2) If an operation prepays moneys for credit against general property taxes pursuant to this article to one or more local governments, said prepayment shall not vary the operation's obligations, under law, to pay general property taxes to any local government which does not receive such prepayments.
C.R.S. § 39-11-114 — CO Code / Title 39 / Article 11 / Section 39-11-114
39-11-114. Record of sales of tax liens on real estate and mobile homes
Status: in_force

39-11-114. Record of sales of tax liens on real estate and mobile homes. (1) The treasurer shall make a correct record of all sales of tax liens on real estate for delinquent taxes in a well-bound book or other permanent record to be kept by the treasurer for that purpose. Said book shall contain:

(a) The date of sale;

(b) The description of each tract of land or town lot for which a tax lien is sold;

(c) The name of the owner thereof, if known;

(d) The name of the purchaser;

(e) The total amount of taxes, delinquent interest, and costs at time of sale;

(f) Columns for amount of subsequent taxes paid by the purchaser and the date of payment;

(g) To whom assigned and the date of assignment;

(h) The name of person redeeming and date of redemption;

(i) The total amount paid for redemption;

(j) The name of person to whom conveyed and date of deed.

(2) The treasurer shall also note in the tax list, opposite the description of the property for which a tax lien is sold, the fact and date of such sale.

(3) (a) Upon recordation of the tax sale, the treasurer shall also make a separate list of all mobile homes for which tax liens are sold at the sale and file such list with the department of revenue. Such list shall include the mobile home's identification number, year and make, parcel number, and all pertinent tax sale information. For maintaining this recorded tax sale information on mobile homes, the executive director of the department of revenue may impose a fee of five dollars which shall become part of the mobile home tax sale redemption cost.

(b) Notwithstanding the amount specified for the fee in this section, the executive director of the department of revenue by rule or as otherwise provided by law may reduce the amount of the fee if necessary pursuant to section 24-75-402 (3), C.R.S., to reduce the uncommitted reserves of the fund to which all or any portion of the fee is credited. After the uncommitted reserves of the fund are sufficiently reduced, the executive director by rule or as otherwise provided by law may increase the amount of the fee as provided in section 24-75-402 (4), C.R.S.
C.R.S. § 39-22-629 — CO Code / Title 39 / Article 22 / Part 6 / Section 39-22-629
39-22-629. Advance payments of income tax credits - definitions
Status: in_force

39-22-629. Advance payments of income tax credits - definitions. (1) As used in this section, unless the context otherwise requires:

(a) "Applicable credit" means the credits allowed in sections 39-22-516.7, 39-22-516.8, and 39-22-555.

(b) "Department" means the department of revenue.

(c) "Taxpayer" means the person authorized to elect advanced payments of an applicable credit.

(2) A taxpayer may elect to receive advance payments for applicable credits as follows:

(a) The taxpayer shall annually register with the department for advance payments of one or more applicable credits no later than thirty days before the due date of the first quarterly report filed by the taxpayer under subsection (2)(b) of this section, in a form and manner prescribed by the department; and

(b) (I) The taxpayer shall electronically file quarterly reports in a form and manner prescribed by the department no later than April 15, June 15, September 15, and December 15 of each tax year for which the taxpayer registers for advance payments; except that:

(A) For a taxpayer with a taxable year beginning on any date other than January 1, the corresponding months shall be substituted for the months specified in subsection (2)(b)(I) of this section.

(B) For a taxpayer with a taxable year less than twelve months, the due dates shall be determined in accordance with rules prescribed by the department.

(II) The quarterly report must include the cumulative total of applicable credit that the taxpayer is seeking advance payment for in the quarter and any information required to be included in the quarterly report as specified in the statute under which the applicable credit is allowed.

(3) After receipt of a completed quarterly report, the department shall make an advance payment of the applicable credit to the taxpayer in the form of a refund of the taxpayer's overpayment of tax imposed under this article 22; except that the advance payment does not accrue interest pursuant to section 39-21-108 (2) but is subject to intercept for the taxpayer's unpaid balance or unpaid debts, if any, pursuant to section 39-21-108 (3).

(4) The taxpayer shall reduce the amount of an applicable credit claimed by the taxpayer for any taxable year by the aggregate amount of advance payments that the taxpayer claimed for the applicable credit during the taxable year, and:

(a) If the aggregate amount of advance payments claimed for the applicable tax year exceeds the amount of the credit allowed to the taxpayer, the amount of the excess is subject to recapture; or

(b) If the aggregate amount of advance payments for the applicable tax year is less than the amount of the credit allowed to the taxpayer, the amount of the difference may be claimed by the taxpayer as a credit in the taxable year in the same manner as the applicable credit.

(5) In the case of a partnership or S corporation electing advance payments under this section, the partnership or S corporation shall make the election and the department shall make the advance payments to the partnership or S corporation. In the event of an excess amount pursuant to subsection (4)(a) of this section, the partnership or S corporation shall pay the amount of the excess on behalf of the partners or shareholders. In the event of an amount of difference pursuant to subsection (4)(b) of this section, the department shall refund the amount of the difference to the partnership or S corporation.
C.R.S. § 39-22-304 — CO Code / Title 39 / Article 22 / Part 3 / Section 39-22-304
39-22-304. Net income of corporation - legislative declaration - definitions - repeal
Status: repealed

39-22-304. Net income of corporation - legislative declaration - definitions - repeal. (1) (a) The net income of a C corporation means the C corporation's federal taxable income, as defined in the internal revenue code, for the taxable year, with the modifications specified in this section.

(b) (I) For income tax years commencing on or after January 1, 2022, in the case of a C corporation that is not incorporated in the United States, or included in a consolidated federal corporate income tax return, "federal taxable income" means the C corporation's income or loss as determined from a profit and loss statement prepared for that C corporation on a separate entity basis in the currency in which its books of account are regularly maintained, provided this profit and loss statement is subject to an independent audit, adjusted to conform to the accounting principles generally accepted in the United States for the preparation of such statements and further modified to take into account any book-tax adjustments necessary to reflect federal and state tax law. Income or loss so computed includes all income wherever derived and is not limited to items of income from sources within the United States or effectively connected income within the meaning of the internal revenue code. Items of income, expense, gain or loss, and related apportionment factors that are denominated in a foreign currency must also be translated into United States dollars on a reasonable basis consistently applied year-to-year and entity-by-entity. Unrealized foreign currency gains and losses are not recognized. Income apportioned to this state is to be expressed in United States dollars.

(II) In lieu of the procedures set forth in subsection (1)(b)(I) of this section, or in any case where it is necessary to fairly and consistently reflect the income or loss and apportionment factors of foreign operations included in a combined report, the executive director may provide for other procedures to reasonably approximate the income or loss and apportionment factors of members with foreign operations.

(2) There shall be added to federal taxable income:

(a) Any income, war profits, or excess profits taxes paid or accrued to any foreign country or to any possession of the United States that were deducted on the federal income tax return;

(b) Interest income less amortization of premium on obligations of any state or any political subdivision thereof, other than interest income on obligations of this state or a political subdivision thereof which are issued on or after May 1, 1980. Interest income on obligations of this state or a political subdivision thereof which were issued before May 1, 1980, shall be exempt from income tax to the extent that such interest is specifically so exempt under the laws of this state authorizing the issuance of such obligations. The amount of such interest shall be the net amount after reduction by the amount of the deductions related thereto which are required by the internal revenue code to be allocated to such classes of interest.

(c) The federal net operating loss deduction;

(d) Income taxes imposed by this state to the extent deducted in determining federal taxable income, except the tax imposed by article 29 of this title;

(e) (I) Any expenses incurred by a taxpayer with respect to expenditures made at, or payments made to, a club licensed pursuant to section 44-3-418 that has a policy to restrict membership on the basis of sex, sexual orientation, gender identity, gender expression, marital status, race, creed, religion, color, ancestry, or national origin. Any such club shall provide on each receipt furnished to a taxpayer a printed statement as follows:

The expenditures covered by this receipt are

nondeductible for state income tax purposes.

(II) The general assembly finds, determines, and declares that the people of the state of Colorado desire to promote and achieve tax equity and fairness among all the state's citizens and further desire to conform to the public policy of nondiscrimination. The general assembly further declares that the provisions of this paragraph (e) are enacted for these reasons and for no other purpose.

(f) For the income tax years commencing on or after January 1, 2000, an amount equal to the charitable contribution deduction allowed by section 170 of the internal revenue code to the extent such deduction includes a contribution of real property to a charitable organization for a conservation purpose for which an income tax credit is claimed pursuant to section 39-22-522;

(g) Repealed.

(h) An amount equal to a business expense for labor services that is deducted pursuant to section 162 (a)(1) of the internal revenue code but that is prohibited from being claimed as a deductible business expense for state income tax purposes pursuant to section 39-22-529;

(i) For income tax years ending on and after the enactment of the March 2020 "Coronavirus Aid, Relief, and Economic Security Act", Pub.L. 116-136, referred to in this section as the "CARES Act", but before January 1, 2021, and for income tax years beginning on and after the enactment of the "CARES Act", but before January 1, 2021, an amount equal to the amount in excess of the limitation on business interest under section 163 (j) of the internal revenue code without regard to the amendments made by section 2306 of the "CARES Act".

(j) (I) For income tax years commencing on or after January 1, 2022, but before January 1, 2023, an amount equal to a federal deduction claimed for the income tax year for a food and beverage expense that exceeds fifty percent of the amount of the expense and that was allowed under section 274 (n)(2)(D) of the internal revenue code.

(II) This subsection (2)(j) is repealed, effective December 31, 2030.

(k) (I) For income tax years commencing on or after January 1, 2024, but before January 1, 2031, an amount equal to a federal deduction claimed for a business meal pursuant to section 274 (k) of the internal revenue code.

(II) This subsection (2)(k) is repealed, effective December 31, 2035.

(3) There shall be subtracted from federal taxable income:

(a) Interest income on obligations of the United States and its possessions to the extent included in federal taxable income;

(b) Interest or dividend income on obligations or securities of any authority, commission, or instrumentality of the United States to the extent included in federal taxable income but exempt from state income taxes under the laws of the United States;

(c) The portion of any gain or loss from the sale or other disposition of property having a higher adjusted basis for Colorado income tax purposes than for federal income tax purposes on the date such property was sold or disposed of in a transaction in which gain or loss was recognized for purposes of federal income tax that does not exceed such difference in basis, but, if a gain is considered a long-term capital gain for federal income tax purposes, the modification shall be limited to the portion of such gain which is included in federal taxable income;

(d) (I) Prior to January 1, 2024, the portion of any gain received during the taxable year from a qualified sale.

(II) As used in this paragraph (d), "qualified sale" means a sale, in good faith, of real or personal property to a buyer who initiates the transaction to purchase real or personal property of the seller and who had or could have obtained the power to condemn such property, if the transaction was not between persons defined in section 267 (b) of the internal revenue code.

(III) The purpose of this paragraph (d) is, for purposes of Colorado income tax, to accord a seller in a qualified sale the same treatment received by a taxpayer under section 1033 of the internal revenue code relating to gains from involuntary conversion, even though said seller does not qualify under said section 1033 due to the absence of condemnation or the threat or imminence thereof and the buyer of the property purchased initiates the transaction. The executive director shall promulgate such reasonable rules and regulations as are necessary to accomplish the purpose of this paragraph (d).

(IV) This subsection (3)(d) is repealed, effective December 31, 2028.

(e) Repealed.

(f) The amount of any refund or credit for overpayment of income taxes imposed by this state to the extent included in federal taxable income;

(g) The net operating loss deduction allowed under section 39-22-504;

(h) (I) Prior to January 1, 2024, an amount equal to the difference between the depletion allowance permitted under the internal revenue code for oil shale and an amount which would be permitted as the depletion allowance for oil shale if: The percentage depletion rate were twenty-seven and one-half percent; and the crushing, retorting, condensing, and other processes by which oil, gas, or both oil and gas are removed from oil shale, were deemed to be treatment processes considered as mining.

(II) This subsection (3)(h) is repealed, effective December 31, 2028.

(i) That portion of wages or salaries paid or incurred for the taxable year, the deduction for which is disallowed by section 280C of the internal revenue code;

(j) Any amount treated as a section 78 dividend under section 78 of the internal revenue code excluding any amount treated under section 78 as a dividend received from a C corporation incorporated in a foreign jurisdiction for the purpose of tax avoidance pursuant to section 39-22- 303 (8)(b)(II);

(k) (I) Prior to January 1, 2025, any amount contributed to a medical savings account pursuant to section 39-22-504.7 (2)(e), to the extent such amount is not claimed as a deduction on the taxpayer's federal tax return.

(II) This subsection (3)(k) is repealed, effective December 31, 2028.

(l) Repealed.

(m) For income tax years commencing on or after January 1, 2014, if a taxpayer is licensed under the "Colorado Marijuana Code", article 10 of title 44, or its predecessor codes, an amount equal to any expenditure that is eligible to be claimed as a federal income tax deduction but is disallowed by section 280E of the internal revenue code because marijuana is a controlled substance under federal law;

(m.5) For income tax years commencing on or after January 1, 2024, if a taxpayer is licensed pursuant to the "Colorado Natural Medicine Code", article 50 of title 44, an amount equal to any expenditure that is eligible to be claimed as a federal income tax deduction but is disallowed by section 280E of the internal revenue code because natural medicine is a controlled substance under federal law;

(n) and (o) Repealed.

(p) (I) (A) Except as provided in subsections (3)(p)(I)(B) and (3)(p)(II) of this section, for income tax years beginning on or after January 1, 2021, but before January 1, 2022, the sum of the amount by which taxable income for the specified tax years exceeds the taxable income for the modified specified tax years computed separately for each income tax year, plus the amount added back by the taxpayer as specified in subsection (2)(i) of this section.

(B) For any income tax year included in the calculation under subsection (3)(p)(I)(A) of this section in which the taxpayer was required to apportion or allocate income to Colorado under the provisions of this article 22 applicable to that income tax year, the amount included in the calculation under subsection (3)(p)(I)(A) is the following amount multiplied by the taxpayer's apportionment factor for the tax year: The amount by which taxable income for the specified tax year exceeds the taxable income for the modified specified tax year, plus the amount added back by the taxpayer as specified in subsection (2)(i).

(II) (A) The subtraction calculated under subsection (3)(p)(I) of this section applies after the application of the other subtractions provided for in this subsection (3) and is limited to the lesser of the taxpayer's Colorado taxable income or three hundred thousand dollars.

(B) Any amount of the subtraction calculated under subsection (3)(p)(I) of this section that a taxpayer may not claim by operation of subsection (3)(p)(II)(A) of this section may be carried forward to subsequent tax years as a subtraction from the taxpayer's federal taxable income until exhausted; except that each tax year's subtraction may not exceed the lesser of the taxpayer's Colorado taxable income or one hundred fifty thousand dollars for the income tax years commencing on or after January 1, 2022, but before January 1, 2026, and each year's subtraction may not exceed the taxpayer's Colorado taxable income in any income tax years thereafter. Any subtraction must be applied first to the earliest income tax years possible.

(C) In the case of a taxpayer that apportions and allocates net income as required by section 39-22-303.6 (3)(b) in the taxpayer's income tax year beginning on or after January 1, 2021, but before January 1, 2022, the subtraction applies to the taxpayer's net income apportioned and allocated to Colorado. Any carry forward amount subtracted in a subsequent tax year under subsection (3)(p)(II)(B) of this section is applied to net income apportioned and allocated to Colorado for that subsequent tax year.

(III) A taxpayer that applies the subtraction allowed in this subsection (3)(p) with respect to qualified improvement property shall calculate the gain or loss on a sale of such qualified improvement property for purposes of the subtraction in subsection (3)(c) of this section using the basis reported on their federal income tax return at the time of the sale.

(IV) As used in this subsection (3)(p), unless the context otherwise requires:

(A) "CARES Act" means the March 2020 "Coronavirus Aid, Relief, and Economic Security Act", Pub.L. 116-136.

(B) "Colorado taxable income" means federal taxable income as modified by this article 22 without regard to this subsection (3)(p).

(C) "Retroactive provisions of the CARES Act" means the changes made to the internal revenue code in sections 2306 and 2307 of the CARES Act.

(D) "Taxable income for the modified specified tax years" means the taxpayer's Colorado taxable income for tax years ending before March 27, 2020, as calculated under the internal revenue code and Colorado law applicable to the taxpayer's return as of the date the return was due, as modified by the application of the retroactive provisions of the CARES Act applied to the calculation of the taxpayer's federal taxable income, but only to the extent the taxpayer appropriately applied those provisions to the taxpayer's federal income tax returns for each tax year.

(E) "Taxable income for the specified tax years" means the taxpayer's Colorado taxable income for tax years ending before March 27, 2020, as calculated under Colorado law applicable to the taxpayer's return as of the date the return was due.

(q) (I) Any amount included in federal taxable income pursuant to section 951 (a) of the internal revenue code with respect to a controlled foreign corporation that is a C corporation incorporated in a foreign jurisdiction for the purpose of tax avoidance pursuant to section 39-22-303 (8)(b)(II); and

(II) The amount of any global intangible low-taxed income included in federal taxable income pursuant to section 951A (a) of the internal revenue code with respect to a controlled foreign corporation that is a C corporation incorporated in a foreign jurisdiction for the purpose of tax avoidance pursuant to section 39-22-303 (8)(b)(II), less any amount deducted under section 250 (a)(1)(B) of the internal revenue code with respect to such global intangible low-taxed income.

(r) Repealed.
C.R.S. § 39-22-5103 — CO Code / Title 39 / Article 22 / Part 51 / Section 39-22-5103
39-22-5103. List of eligible charitable organizations
Status: in_force

39-22-5103. List of eligible charitable organizations. (1) (a) On or before September 1, 2019, and on or before September 1 of each year thereafter, the secretary of state shall provide to the department of revenue a list of all eligible charitable organizations. To be eligible, a charitable organization must:

(I) Have been registered with the secretary of state under the "Colorado Charitable Solicitations Act", article 16 of title 6, for at least five years as of the date the list is generated;

(II) Be in good standing with the secretary of state under the "Colorado Charitable Solicitations Act", article 16 of title 6, as of the date the list is generated; and

(III) Be a nonprofit organization that is exempt from taxation under section 501 (c)(3) of the federal "Internal Revenue Code of 1986", as amended.

(b) A registered charitable organization may file a written request with the secretary of state, on a form prescribed by the secretary of state, to exclude itself from the list provided to the department of revenue under subsection (1)(a) of this section. The secretary of state shall not include in the list the name or information of any charitable organization that files such a request.

(c) The secretary of state shall provide the list of eligible charitable organizations to the department of revenue in a digital format.

(2) The department of revenue shall make the list of eligible charitable organizations available to the public for each income tax year. The department may make the list available in a digital format or a paper format or both. The list must include, for each charitable organization, all identifying information that the department requires for a taxpayer to designate the organization to receive a donation through the donate to a Colorado nonprofit fund voluntary contribution line established in section 39-22-5102.

(3) A taxpayer may designate one charity from the list made available by the department of revenue for the tax year for which the taxpayer is filing a return using the donate to a Colorado nonprofit fund voluntary contribution line created in section 39-22-5102. If a taxpayer designates an organization that is not eligible under this section, or if the department of revenue cannot determine which charitable organization a taxpayer has designated, the contribution is void.
C.R.S. § 39-22-2005 — CO Code / Title 39 / Article 22 / Part 20 / Section 39-22-2005
39-22-2005. Refund of excess state revenues from all sources - definitions - repeal
Status: repealed

39-22-2005. Refund of excess state revenues from all sources - definitions - repeal. (1) As used in this section, unless the context otherwise requires:

(a) "Qualified individual" has the same meaning as set forth in section 39-22-2003 (1).

(b) "Remaining excess state revenues" means the total amount of the state revenues for the state fiscal year commencing on July 1, 2022, in excess of the limitation on state fiscal year spending imposed by section 20 (7)(a) of article X of the state constitution that the state is required to refund under section 20 (7)(d) of article X of the state constitution, including any amount specified in section 24-77-103.8, that exceeds the amounts to be refunded as required by sections 39-22-123.5 (2.8), as enacted by House Bill 23B-1002 in 2023, 39-3-209, and 39-3-210, for the state fiscal year. For the purposes of this section, the executive director shall use the amounts required to be refunded as certified by the state controller pursuant to section 24-77-106.5 and the most recent estimates by legislative council staff of the amounts to be refunded as required by section 39-22-123.5 (2.8), as enacted by House Bill 23B-1002 in 2023, 39-3-209, and 39-3-210.

(2) Notwithstanding sections 39-22-2002 and 39-22-2003, any remaining excess state revenues for the state fiscal year commencing on July 1, 2022, are refunded through an identical payment to qualified individuals. The amount of each refund is equal to the amount of the remaining excess state revenues divided by the number of qualified individuals expected to claim a refund pursuant to section 39-22-2003 for the income tax year commencing on January 1, 2023. This is a refund of excess state revenues from all sources of fiscal year spending.

(3) (a) A qualified individual filing a single return is entitled to one refund under this section and two qualified individuals filing a joint return are entitled to two refunds under this section.

(b) Except as provided in subsection (3)(c) of this section, the executive director shall administer the refund in this section in the same manner as the refund set forth in section 39-22-2003.

(c) No later than ten business days after enactment of Senate Bill 23B-003, enacted in 2023, the executive director shall calculate the amount of the identical individual refund calculated pursuant to subsection (2) of this section. For this recalculation only, the department is not required to notify the executive committee of the legislative council, nor seek review of its recalculations as required in section 39-22-2002 (6).

(4) The refund of excess state revenues from all sources allowed under this section is a reasonable method of refunding a portion of the excess state revenues required to be refunded in accordance with section 20 (7)(d) of article X of the state constitution.

(5) The refund of excess state revenue from all sources allowed to any qualified individual under this section shall not be reported by the department of revenue as a payment of a refund, credit, or offset of state income taxes to the qualified individual in any information return required to be filed pursuant to federal law.

(6) This section is repealed, effective December 31, 2028.
C.R.S. § 39-2-105 — CO Code / Title 39 / Article 2 / Section 39-2-105
39-2-105. Seal
Status: in_force

39-2-105. Seal. The division of property taxation shall have an official seal with the words "Property Tax Division - Department of Local Affairs" and such other appropriate design as the property tax administrator may determine engraved thereon, by which he shall authenticate proceedings conducted by him and of which the courts shall take judicial notice.
C.R.S. § 39-11.5-119 — CO Code / Title 39 / Article 11.5 / Section 39-11.5-119
39-11.5-119. Interaction with other law
Status: in_force

39-11.5-119. Interaction with other law. Notwithstanding any law to the contrary, on or after July 1, 2024, a purchaser, lawful holder, or treasurer shall follow the procedures established in this article 11.5 and shall not follow the procedures established in article 11 of this title 39 concerning the issuance of a deed. Notwithstanding any law to the contrary, on or after July 1, 2024, a treasurer shall not issue a deed pursuant to article 11 of this title 39.
C.R.S. § 39-22-516.7 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-516.7
39-22-516.7. Tax credit for innovative motor vehicles - tax preference performance statement
Status: repealed

39-22-516.7. Tax credit for innovative motor vehicles - tax preference performance statement - legislative declaration - definitions - repeal. (1) As used in this section, unless the context otherwise requires:

(a) (I) (A) "Actual cost incurred" means the actual cost paid by the purchaser for a used motor vehicle or conversion minus any credits, grants, or rebates, including federal credits, grants, or rebates for which the purchaser is eligible, but excluding the credit specified in this section.

(B) "Actual cost incurred" means the manufacturer's suggested retail price for a new motor vehicle that a person purchases minus any credits, grants, or rebates, including federal credits, grants, or rebates for which the person is eligible, but excluding the credit specified in this section.

(II) For purposes of a lease, the "actual cost incurred" means the total of payments contracted in the lease for the motor vehicle minus:

(A) Any security deposit included in the total of payments;

(B) The rent charge included in the total of payments;

(C) Any sales tax included in the total of payments;

(D) Any titling and registration fees included in the total of payments;

(E) Any disposition fee included in the total of payments;

(F) Any administrative fee or any other fee that does not reflect the value of the motor vehicle included in the total of payments; and

(G) Any credits, grants, or rebates, including federal credits, grants, or rebates for which the lessee or lessor is eligible, but excluding the credit specified in this section.

(b) "Alternative fuel" has the meaning set forth in section 24-30-1104 (2)(c)(III)(A).

(c) "Battery capacity" means the quantity of electricity that a battery is capable of storing, expressed in kilowatt hours, as measured from a one hundred percent state of charge to a zero percent state of charge.

(d) "Category 1" means an electric motor vehicle and a plug-in hybrid electric motor vehicle.

(e) "Category 1 A" means a conversion of a motor vehicle to an electric motor vehicle or a plug-in hybrid electric motor vehicle.

(f) and (g) Repealed.

(g.5) "Department" means the department of revenue.

(h) to (j) Repealed.

(k) "Electric motor vehicle" or "plug-in hybrid electric motor vehicle" means a motor vehicle that:

(I) Has a gross vehicle weight rating that does not exceed eight thousand five hundred pounds;

(II) Has a maximum speed capability of at least fifty-five miles per hour; and

(III) Is propelled to a significant extent by:

(A) An electric motor that draws electricity from a battery that has a capacity of not less than four kilowatt hours and is capable of being recharged from an external source of electricity; or

(B) Power derived from one or more cells which convert chemical energy directly into electricity by combining oxygen with hydrogen fuel which is stored on board the vehicle in any form and may or may not require reformation prior to use.

(k.5) "Financing entity" means the entity that finances the purchase or lease of a category 1 vehicle eligible for a credit allowed by this section.

(l) "Gross vehicle weight rating" or "GVWR" shall have the same meaning as set forth in section 42-2-402 (6), C.R.S.

(m) "Hybrid motor vehicle" means a motor vehicle with a hybrid propulsion system that operates on both electricity and an alternative fuel or traditional fuel.

(n) Repealed.

(o) "Light-duty passenger motor vehicle" means a private passenger motor vehicle, including vans, capable of seating twelve passengers or less; except that the term does not include motor homes as defined in section 42-1-102 (57), C.R.S., or motor vehicles designed to travel on three or fewer wheels in contact with the ground.

(p) "Light-duty truck" means a truck between zero and fourteen thousand pounds GVWR.

(p.5) "Manufacturer's suggested retail price" has the same meaning as set forth in section 42-1-102 (50).

(q) "Medium-duty truck" means a truck with a gross vehicle weight rating greater than fourteen thousand pounds up to twenty-six thousand pounds.

(r) (I) "Motor vehicle" means, for tax years commencing prior to January 1, 2017, a self-propelled vehicle with four wheels, including a truck and a hybrid motor vehicle, that is:

(A) Titled and registered in the state; and

(B) Required to be licensed or subject to licensing for operation upon the highways of the state.

(II) "Motor vehicle" means, for tax years commencing on or after January 1, 2017, a self-propelled vehicle with four wheels, including a truck and a hybrid motor vehicle, that is:

(A) New, not used, unless the motor vehicle is being converted;

(B) Titled and registered in the state; and

(C) Required to be licensed or subject to licensing for operation upon the highways of the state.

(r.1) "Motor vehicle dealer" has the same meaning as set forth in section 44-20-102 (18).

(r.3) (I) "Purchaser" means the buyer or the lessee of a category 1 vehicle, but, for income tax years commencing before January 1, 2024, does not include the state or any political subdivision of the state. For tax years commencing on or after January 1, 2017, a lessee seeking to claim a credit allowed in this section must enter into a lease with a term of not less than two years.

(II) For income tax years commencing on or after January 1, 2024, "purchaser" includes a person or a political subdivision of the state that is exempt from taxation under section 39-22-112 (1).

(s) "Traditional fuel" means a petroleum-based motor fuel commonly used on the highways of the state in the year 2008.

(1.5) (a) 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 finds and declares that the purpose of the tax credit provided for in this section is to induce certain designated behavior by taxpayers, specifically the sale and purchase or lease of electric motor vehicles, by providing a reduction in income tax liability to the purchaser or lessee or to a motor vehicle dealer or financing entity in connection with the sale and purchase or lease of an electric motor vehicle.

(b) The general assembly and the state auditor shall measure the effectiveness of the credit in achieving the purposes specified in subsection (1.5)(a) of this section based on the number and value of credits claimed.

(2) (a) With respect to the tax years commencing on or after January 1, 2013, but prior to January 1, 2029, there is allowed to any person a credit against the tax imposed by this article 22, not to exceed the amount specified in subsection (4) of this section, for the purchase or lease of a motor vehicle defined as category 1.

(a.3) to (b) Repealed.

(c) With respect to the tax years commencing on or after January 1, 2014, but prior to January 1, 2022, there is allowed to any person a credit against the tax imposed by this article, not to exceed the amount specified in subsection (4) of this section, for the conversion of a motor vehicle defined as category 1 A.

(d) Repealed.

(e) (I) A purchaser may assign the tax credit allowed in this section for the purchase or lease of a category 1 or category 1 A vehicle completed on or after January 1, 2017, but prior to January 1, 2024, to a financing entity as follows:

(A) The assignment to the financing entity must be completed at the time of purchase or lease by entering into an election statement as set forth in subparagraph (III) of this paragraph (e);

(B) The purchaser must title and register the vehicle in the state as required by state law;

(C) The purchaser must assign the tax credit to the financing entity and forfeit the right to claim the tax credit on the purchaser's tax return in exchange for good and valuable consideration; and

(D) The financing entity shall compensate the purchaser for the full nominal value of the tax credit; except that the financing entity may collect an administrative fee not to exceed one hundred fifty dollars for processing the assignment. The compensation paid to the purchaser is considered a refund of state taxes and is not income.

(II) Notwithstanding section 39-21-108 (3), if a purchaser assigns the tax credit to a financing entity pursuant to this paragraph (e), the financing entity receives the full amount of the tax credit that the purchaser is allowed in this section. Any unpaid balance or unpaid debt of the purchaser may not be credited from the amount of the tax credit allowed in this section.

(III) To complete the tax credit assignment, the purchaser and the financing entity must enter into an election statement that must:

(A) Identify the vehicle identification number of the category 1 or category 1 A vehicle for which a credit is allowed in this section; and

(B) Affirm that the requirements specified in subparagraph (I) of this paragraph (e) were met.

(IV) The financing entity may authorize an agent or a designee to sign the election statement on its behalf.

(V) The financing entity shall electronically submit a report containing the information contained in the election statement described in subparagraph (III) of this paragraph (e) to the department of revenue within thirty days of the purchase or lease of a category 1 or category 1 A vehicle in such a form and in such a manner as required by the department.

(VI) The financing entity shall also file the election statement described in subparagraph (III) of this paragraph (e) with the original tax return for the taxable year in which the category 1 or category 1 A vehicle is purchased or leased.

(VII) The department of revenue, in consultation with the Colorado energy office created in section 24-38.5-101, C.R.S., shall develop a model report and election statement no later than December 1, 2016.

(VIII) This subsection (2)(e) is repealed, effective December 31, 2028.

(f) (I) A purchaser may assign the tax credit allowed in this section for the purchase or lease of a category 1 vehicle completed on or after January 1, 2024, to a financing entity or to a motor vehicle dealer as follows:

(A) The assignment to the financing entity or the motor vehicle dealer must be completed at the time of purchase or lease by entering into an election statement as set forth in subsection (2)(f)(III) of this section;

(B) The purchaser must title and register the vehicle in the state as required by state law;

(C) The purchaser must assign the tax credit to the financing entity or the motor vehicle dealer and forfeit the right to claim the tax credit on the purchaser's tax return in exchange for the good and valuable consideration described in subsection (2)(f)(I)(D) of this section; and

(D) The financing entity or the motor vehicle dealer shall compensate the purchaser for the full nominal value of the tax credit including, if applicable, the amounts allowed pursuant to subsections (4)(a)(XI) and (4)(a.5) of this section; except that the financing entity or the motor vehicle dealer may collect an administrative fee not to exceed two hundred fifty dollars for processing the assignment. The compensation paid to the purchaser is considered a refund of state taxes and is not income.

(II) Notwithstanding section 39-21-108 (3), if a purchaser assigns the tax credit to a financing entity or to a motor vehicle dealer pursuant to this subsection (2)(f), the financing entity or the motor vehicle dealer receives the full amount of the tax credit that the purchaser is allowed in this section. Any unpaid balance or unpaid debt of the purchaser may not be credited from the amount of the tax credit allowed in this section.

(III) To complete the tax credit assignment, the purchaser and the financing entity or the motor vehicle dealer shall enter into an election statement that:

(A) Identifies the vehicle identification number of the category 1 vehicle for which a credit is allowed in this section;

(B) Identifies the manufacturer's suggested retail price of the category 1 vehicle for which a credit is allowed in this section;

(C) Specifies the value of the credit allowed; and

(D) Affirms that the requirements specified in subsection (2)(f)(I) of this section were met.

(IV) The financing entity or the motor vehicle dealer may authorize an agent or a designee to sign the election statement on its behalf.

(V) For the purchase or lease of a category 1 vehicle completed on or after January 1, 2024, the financing entity or the motor vehicle dealer shall electronically submit a report containing the information contained in the election statement described in subsection (2)(f)(III) of this section to the department on a quarterly basis in a form and manner required by the department for all purchases or leases of a category 1 vehicle completed in the reporting period.

(VI) The financing entity or the motor vehicle dealer shall maintain the election statement described in subsection (2)(f)(III) of this section and produce it upon request by the department for an audit.

(VII) For income tax years commencing on or after January 1, 2025, the financing entity or motor vehicle dealer may elect advance payments of credits assigned under this subsection (2)(f) as specified in section 39-22-629.

(3) If a motor vehicle is leased, the lessee, not the lessor, is allowed to claim the credit allowed pursuant to this section. The lessee may elect to assign the tax credit allowed pursuant to this section for the lease of a category 1 vehicle to a financing entity or to a motor vehicle dealer as specified in subsection (2)(e) or (2)(f), as applicable, of this section.

(4) The amount of the credit allowed pursuant to this section is calculated as follows:

(a) Category 1. (I) With respect to the tax years commencing on or after January 1, 2013, but prior to January 1, 2017, the actual cost incurred by the taxpayer during the tax year for purchasing or leasing a category 1 motor vehicle multiplied by the battery capacity of the motor vehicle and divided by one hundred, not to exceed six thousand dollars;

(II) With respect to the tax years commencing on or after January 1, 2017, but prior to January 1, 2020, five thousand dollars for a purchase or two thousand five hundred dollars for a lease;

(III) With respect to the tax years commencing on or after January 1, 2020, but prior to January 1, 2021, four thousand dollars for a purchase or two thousand dollars for a lease;

(IV) With respect to the tax years commencing on or after January 1, 2021, but prior to January 1, 2023, two thousand five hundred dollars for a purchase or one thousand five hundred dollars for a lease;

(V) With respect to the purchase or lease of a category 1 vehicle sold or leased on or after January 1, 2023, but prior to July 1, 2023, two thousand dollars for a purchase or one thousand five hundred dollars for a lease;

(VI) Except as otherwise provided in subsection (4)(a)(XI) of this section, with respect to the purchase or lease of a category 1 vehicle sold or leased on or after July 1, 2023, but before January 1, 2025, five thousand dollars for a purchase or a lease;

(VII) Except as otherwise provided in subsection (4)(a)(XI) of this section, with respect to the purchase or lease of a category 1 vehicle sold or leased in tax years commencing on or after January 1, 2025, but before January 1, 2026, three thousand five hundred dollars;

(VIII) Except as otherwise provided in subsection (4)(a.7) of this section, with respect to the purchase or lease of a category 1 vehicle sold or leased in tax years commencing on or after January 1, 2026, but before January 1, 2027, one thousand five hundred dollars;

(IX) Except as otherwise provided in subsection (4)(a.7) of this section, with respect to the purchase or lease of a category 1 vehicle sold or leased in tax years commencing on or after January 1, 2027, but before January 1, 2028, one thousand dollars;

(X) Except as otherwise provided in subsection (4)(a.7) of this section, with respect to the purchase or lease of a category 1 vehicle sold or leased in tax years commencing on or after January 1, 2028, but before January 1, 2029, five hundred dollars; and

(XI) With respect to a purchase or lease of a category 1 vehicle sold or leased at a location where the credit allowed in this section may be assigned and if the credit is assigned pursuant to subsection (2)(f) of this section in a tax year that commences on or after January 1, 2024, but before January 1, 2026, an additional amount of six hundred dollars may be claimed by a financing entity or motor vehicle dealer when the purchaser assigns the credit to the financing entity or motor vehicle dealer.

(a.3) Limitation on credit. No credit is allowed for a purchase or lease made on or after July 1, 2023, but before January 1, 2029, of a Category 1 vehicle that exceeds a manufacturer's suggested retail price of eighty-thousand dollars.

(a.5) Category 1 for vehicles under $35,000 threshold. With respect to the purchase or lease of a category 1 vehicle sold or leased in tax years commencing on or after January 1, 2024, but prior to January 1, 2029, with a manufacturer's suggested retail price below thirty-five thousand dollars there is allowed an additional two thousand five hundred dollars of credit in addition to the amount of credit allowed pursuant to subsection (4)(a) of this section.

(a.7) If the June 2025 revenue forecast, and each June revenue forecast through the June 2027 revenue forecast as prepared by either legislative council staff or the office of state planning and budgeting, projects that state revenues, as defined in section 24-77-103.6 (6)(c), will not increase by at least four percent for the next fiscal year, the amount of the credit allowed pursuant to subsection (4)(a)(VIII), (4)(a)(IX), or (4)(a)(X) of this section for any tax year commencing in the calendar year that begins during said next fiscal year is reduced by fifty percent; except that if the amount of reduced credit is equal to or less than five hundred dollars, then no credit is available for such a tax year.

(b) Category 1 A. (I) With respect to the tax years commencing on or after January 1, 2013, but prior to January 1, 2017, seventy-five percent of the actual cost incurred by the taxpayer during the tax year for the conversion of a motor vehicle defined as category 1 A, not to exceed six thousand dollars;

(II) With respect to the tax years commencing on or after January 1, 2017, but prior to January 1, 2020, five thousand dollars;

(III) With respect to the tax years commencing on or after January 1, 2020, but prior to January 1, 2021, four thousand dollars;

(IV) With respect to the tax years commencing on or after January 1, 2021, but prior to January 1, 2022, two thousand five hundred dollars.

(c) to (g) Repealed.

(5) With respect to any model year 2004 and newer hybrid motor vehicle, a taxpayer that converts such a motor vehicle to a category 1 A motor vehicle shall be eligible for the category 1 A credit.

(6) Repealed.

(7) If a credit authorized in this section exceeds the income tax due on the income of the taxpayer for the taxable year, the excess credit may not be carried forward and shall be refunded to the taxpayer.

(8) With respect to tax years commencing on or after January 1, 2017, the taxpayer claiming a credit allowed in this section shall provide the department of revenue with, and the department shall commence tracking, the vehicle identification number of the motor vehicle for which a credit is claimed as allowed in this section.

(9) Making the purchaser aware of the income tax credit allowed in this section or helping the purchaser assign the income tax credit to a financing entity or to a motor vehicle dealer as allowed in this section does not rise to the level of providing the purchaser with unauthorized tax advice.

(9.5) With respect to the tax years commencing on or after January 1, 2019, a transportation network company, as defined in section 40-10.1-602 (3), or a third-party vehicle supplier that contracts with a transportation network company to provide category 1 motor vehicles for short-term rental to transportation network company drivers, as defined in section 40-10.1-602 (4), that enters into long-term leases with a duration of not less than two years for category 1 motor vehicles shall be treated as having purchased each category 1 motor vehicle for purposes of the credit calculation specified in subsection (4)(a) of this section if the vehicles are offered to transportation network company drivers, as defined in section 40-10.1-602 (4), for short-term rental periods of not more than sixty days.

(10) A purchaser, as set forth in subsection (1)(r.3)(II) of this section, who claims the credit under this section shall file a return pursuant to section 39-22-601 (7)(b).

(11) A purchaser who claims a tax credit under this section or who assigns a tax credit pursuant to subsection (2)(f) of this section is entitled to additionally receive any rebate that is part of an electric vehicle program pursuant to sections 40-3-116 and 40-5-107.

(12) This section is repealed, effective December 31, 2033.
C.R.S. § 39-26-125 — CO Code / Title 39 / Article 26 / Part 1 / Section 39-26-125
39-26-125. Limitations
Status: in_force

39-26-125. Limitations. [Editor's note: This version of this section is effective until July 1, 2025.] The taxes for any period, together with the interest thereon and penalties with respect thereto, imposed by this part 1 shall not be assessed, nor shall any notice of lien be filed, or distraint warrant issued, or suit for collection be instituted, nor any other action to collect the same be commenced, more than three years after the date on which the tax was or is payable, except as set forth in section 29-2-106.1 (5)(b); nor shall any lien continue after such period, except for taxes assessed before the expiration of such period, notice of lien with respect to which has been filed prior to the expiration of such period, in which cases such lien shall continue only for one year after the filing of notice thereof. In the case of a false or fraudulent return with intent to evade tax, the tax, together with interest and penalties thereon, may be assessed, or proceedings for the collection of such taxes, may be begun, at any time. Before the expiration of such period of limitation, the taxpayer and the executive director of the department of revenue may agree in writing to an extension thereof, and the period so agreed on may be extended by subsequent agreements in writing.39-26-125. Limitations. [Editor's note: This version of this section is effective July 1, 2025.] The taxes for any period, together with the interest thereon and penalties with respect thereto, imposed by this part 1 shall not be assessed, nor shall any notice of lien be filed, or distraint warrant issued, or suit for collection be instituted, nor any other action to collect the same be commenced, more than three years after the date on which the tax was or is payable, except as set forth in sections 29-2-208 (2)(a)(III) and 29-2-302 (5)(b); nor shall any lien continue after such period, except for taxes assessed before the expiration of such period, notice of lien with respect to which has been filed prior to the expiration of such period, in which cases such lien shall continue only for one year after the filing of notice thereof. In the case of a false or fraudulent return with intent to evade tax, the tax, together with interest and penalties thereon, may be assessed, or proceedings for the collection of such taxes, may be begun, at any time. Before the expiration of such period of limitation, the taxpayer and the executive director of the department of revenue may agree in writing to an extension thereof, and the period so agreed on may be extended by subsequent agreements in writing.
C.R.S. § 39-3.5-112 — CO Code / Title 39 / Article 3.5 / Section 39-3.5-112
39-3.5-112. Election by spouse to continue tax deferral
Status: in_force

39-3.5-112. Election by spouse to continue tax deferral. (1) Notwithstanding the provisions of section 39-3.5-110, when one of the circumstances listed in section 39-3.5-110 (1)(a) or (1)(c) occurs, the spouse of the taxpayer may elect to continue the property in its tax-deferred status if:

(a) The spouse of the taxpayer is or will be sixty years of age or older when the circumstance occurs; and

(b) The property is the homestead of the spouse of the taxpayer and meets the requirements of section 39-3.5-103 (1)(b) and (1)(c).

(1.5) (a) Notwithstanding the provisions of section 39-3.5-110 (1)(a), when a taxpayer who claimed a tax deferral pursuant to this article 3.5 dies, the loan for deferred real property taxes, including accrued interest, shall not become payable if:

(I) The taxpayer was a person called into military service or was a person eligible for deferral under section 39-3.5-102 (1)(c);

(II) The taxpayer is survived by a spouse; and

(III) The property is the homestead of the surviving spouse and meets the requirements of section 39-3.5-103 (1)(b) and (1)(c).

(b) If paragraph (a) of this subsection (1.5) applies, a loan for deferred real property taxes, including accrued interest, shall become payable when the spouse of the taxpayer dies, in addition to the events set forth in section 39-3.5-110.

(2) The election granted under subsection (1) of this section shall be filed in the same manner as a claim for deferral is filed under section 39-3.5-102, not later than ninety days from the date the circumstance occurs. Thereafter, the property shall continue to be treated as tax-deferred property, and the county treasurer and state treasurer shall withdraw any action taken under section 39-3.5-111. When the property has been continued in its tax-deferred status by the spouse of the taxpayer, the spouse may continue the property in its tax-deferred status in subsequent years by filing a claim, as provided in section 39-3.5-104, annually if the property continues to be eligible for tax-deferred status.
C.R.S. § 39-5-108.5 — CO Code / Title 39 / Article 5 / Part 1 / Section 39-5-108.5
39-5-108.5. Furnished residential real property rental advertisements - information to be pr
Status: in_force

39-5-108.5. Furnished residential real property rental advertisements - information to be provided to the assessor - legislative declaration. (1) The general assembly hereby finds and declares that:

(a) Each assessor is required by law to discover and assess taxable personal property in the assessor's county and to provide each person known or believed to own taxable personal property in the county with a personal property schedule;

(b) Each owner of taxable personal property is required by law to list the owner's taxable personal property on the personal property schedule, and the receipt of a personal property schedule from the assessor provides notice to a property owner that the property owner may own taxable personal property, which helps to ensure that:

(I) More property owners comply with state property tax laws;

(II) The property tax burden is more fairly distributed; and

(III) The amount of property tax revenues lost by local governments due to property owners' lack of knowledge regarding the taxable status of certain personal property is minimized;

(c) Personal property that is used to furnish residential real property is exempt from property taxation so long as it is not used for the production of income at any time, but generally becomes subject to taxation if the residential real property is offered for rent on a furnished basis or otherwise used for business purposes;

(d) In certain areas of the state, a high proportion of residential real property is advertised for rent on a furnished basis directly by property owners or by real estate agents, property management companies, lodging companies, and internet and print-based listing services that act as agents for multiple property owners and advertise multiple properties for rent, and because the advertisements typically do not precisely identify the property offered for rent by address or the owner's name:

(I) It is difficult for each assessor to accurately identify which parcels of furnished residential real property are being offered for rent and to which owners of furnished residential real property the assessor should provide personal property schedules; and

(II) This difficulty impairs the fairness and efficiency of the property tax system and reduces property tax collections by making it more likely that owners of furnished residential real property rented to others will, in some cases deliberately and in many other cases due to a lack of notice regarding state property tax laws, fail to pay property taxes due on personal property used to furnish the residential real property; and

(e) It is therefore necessary and appropriate to require the owner of furnished residential real property or an agent of the owner who advertises the property for rent to provide identifying information regarding the property to the assessor of the county in which the property is located upon the request of the assessor made no more than twice during any year as specified in this section or as mutually agreed to by the assessor and the owner or agent pursuant to paragraph (b) of subsection (2) of this section.

(2) (a) Upon the request of the assessor of any county or city and county made no more than twice during any year:

(I) A property owner who advertises for rent furnished residential real property that is located within the county or city and county shall provide to the assessor a list that identifies each property so advertised by address; and

(II) An agent who advertises for rent on behalf of a property owner furnished residential real property that is located within the county or city and county shall provide to the assessor a list that identifies each property so advertised by owner and address.

(b) An assessor and a property owner or agent may mutually agree that the owner or agent shall annually provide to the assessor by a specified date the information that an assessor may require to be provided pursuant to paragraph (a) of this subsection (2).

(3) For purposes of this section, "agent" means a real estate broker, as defined in section 12-10-201 (6)(a), a property management company, a lodging company, an internet website listing service, a print-based listing service, or any other person that either separately or as part of a package of services advertises furnished residential real property in the state for rent on behalf of the owner of the property in exchange for compensation.
C.R.S. § 39-5-125 — CO Code / Title 39 / Article 5 / Part 1 / Section 39-5-125
39-5-125. Omission - correction of errors
Status: in_force

39-5-125. Omission - correction of errors. (1) Except as otherwise provided in subsection (3) of this section, whenever it is discovered that any taxable property has been omitted from the assessment roll of any year or series of years, the assessor shall immediately determine the value of such omitted property and shall list the same on the assessment roll of the year in which the discovery was made and shall notify the treasurer of any unpaid taxes on such property for prior years.

(2) Omissions and errors in the assessment roll, when it can be ascertained therefrom what was intended, may be supplied or corrected by the assessor at any time before the tax warrant is delivered to the treasurer or by the treasurer at any time after the tax warrant has come into his hands.

(3) If taxable personal property that has been omitted from the assessment roll of any year or series of years is discovered due to a property owner or an agent of a property owner who advertises for rent furnished residential real property providing information to the assessor pursuant to section 39-5-108.5 (2), the assessor shall not notify the treasurer of any unpaid taxes on the taxable personal property for prior years and the property owner or agent shall not be liable for any such unpaid taxes for prior years.

(4) If omitted property is added by the assessor or the treasurer for a prior assessment year, then a petition for abatement or refund may be filed at any time after the taxes are levied and an amended tax bill has been generated, but before two years after January 1 of the year following the year in which the taxes are levied.
C.R.S. § 39-3.5-109 — CO Code / Title 39 / Article 3.5 / Section 39-3.5-109
39-3.5-109. Failure to receive notices
Status: in_force

39-3.5-109. Failure to receive notices. Failure to receive the notice provided for in this article 3.5 is not a defense in any proceeding for the collection of taxes or for the foreclosure of a tax lien. Neither the state treasurer nor a county treasurer is personally liable for failure to give such notices.
C.R.S. § 39-26-712 — CO Code / Title 39 / Article 26 / Part 7 / Section 39-26-712
39-26-712. Trailers and trucks
Status: in_force

39-26-712. Trailers and trucks. (1) The following are exempt from taxation under the provisions of part 1 of this article 26:

(a) The sale of a new or used trailer, semitrailer, truck, truck tractor, or truck body manufactured within this state if such vehicle is purchased from the manufacturer for use exclusively outside this state or in interstate commerce and is delivered by the manufacturer to the purchaser within this state, if the purchaser drives or moves such vehicle to any point outside this state within thirty days after the date of delivery, and if, the purchaser furnishes an affidavit to the manufacturer that such vehicle will be permanently licensed and registered outside this state and will be removed from this state within thirty days after the date of delivery, unless the department of revenue determines pursuant to section 39-26-730 (2) that the affidavit can be consolidated with another form or eliminated; and

(b) The sale of a new or used trailer, semitrailer, truck, truck tractor, or truck body if such vehicle is purchased for use exclusively outside this state or in interstate commerce and is delivered by the manufacturer or licensed Colorado dealer to the purchaser within this state, if the purchaser drives or moves such vehicle to any point outside this state within thirty days after the date of delivery, and if the purchaser furnishes an affidavit to the seller that such vehicle will be permanently licensed and registered outside this state and will be removed from this state within thirty days after the date of delivery, unless the department of revenue determines pursuant to section 39-26-730 (2) that the affidavit can be consolidated with another form or eliminated.

(2) The following are exempt from taxation under the provisions of part 2 of this article 26:

(a) The storage or use of a new or used trailer, semitrailer, truck, truck tractor, or truck body manufactured within this state if such vehicle is purchased from the manufacturer for use exclusively outside this state or in interstate commerce and is delivered by the manufacturer to the purchaser within this state, if the purchaser drives or moves such vehicle to any point outside this state within thirty days after the date of delivery, and if the purchaser furnishes an affidavit to the manufacturer that such vehicle will be permanently licensed and registered outside this state and will be removed from this state within thirty days after the date of delivery, unless the department of revenue determines pursuant to section 39-26-730 (2) that the affidavit can be consolidated with another form or eliminated;

(b) The storage or use of a new or used trailer, semitrailer, truck, truck tractor, or truck body if such vehicle is purchased for use exclusively outside this state or in interstate commerce and is delivered by the manufacturer or licensed Colorado dealer to the purchaser within this state, if the purchaser drives or moves such vehicle to any point outside this state within thirty days after the date of delivery, and if the purchaser furnishes an affidavit to the seller that such vehicle will be permanently licensed and registered outside this state and will be removed from this state within thirty days after the date of delivery, unless the department of revenue determines pursuant to section 39-26-730 (2) that the affidavit can be consolidated with another form or eliminated; and

(c) The storage or use of a new or used trailer, semitrailer, truck, truck tractor, or truck body if the vehicle has been relocated within this state, was used in interstate commerce, and the owner can provide evidence of the vehicle being previously registered in another state for at least six months.
C.R.S. § 39-12-103 — CO Code / Title 39 / Article 12 / Section 39-12-103
39-12-103. Redemption made - interest
Status: in_force

39-12-103. Redemption made - interest. (1) Real property for which a tax lien was sold under the provisions of article 11 of this title as a result of delinquent taxes may be redeemed by the owner thereof or his agent, assignee, or attorney, or by any person having a legal or equitable claim therein, or by a holder of a tax sale certificate; except that such holder may redeem such real property from any sale of a tax lien thereof made subsequent to the time of the issuance of the tax sale certificate upon which he is relying, and the amount paid for the redemption of the subsequent certificate of purchase shall be endorsed as subsequent taxes paid on the certificate upon which he is relying.

(2) An undivided interest may be redeemed upon payment of a ratable share of the sum required to redeem the whole even though a tax lien for the whole has been sold. In case a tax lien on any tract of land sold for delinquent taxes under the provisions of article 11 of this title belongs to two or more separate and distinct parties in severalty, the treasurer, when satisfied of the fact and upon application of any one of the parties or his agent, assignee, or attorney and upon payment of the proper proportional amount, shall issue a certificate of redemption for such party's interest in said land.

(3) The redemption may be made at any time before the execution of a treasurer's deed to the purchaser or his heirs or assigns upon payment to the treasurer, to be held by him subject to the order of the purchaser, of the amount of taxes, delinquent interest, and costs for which the tax lien on the property was sold, with redemption interest thereon from the date of sale at the rate which is determined as provided in this subsection (3), together with the amount of all taxes accruing on such real property after the sale, paid by the purchaser and endorsed on his certificate of purchase, with redemption interest at the rate which is determined as provided in this subsection (3) on such taxes so endorsed on the certificate of purchase. Any payment under this section shall be deemed received by the treasurer on the date that it is actually received in the treasurer's office. The annual rate of redemption interest shall be nine percentage points above the discount rate, which discount rate shall be the rate of interest a commercial bank pays to the federal reserve bank of Kansas City using a government bond or other eligible paper as security, and shall be rounded to the nearest full percent. The commissioner of banking shall establish the annual rate of redemption interest based upon the computation specified immediately above. Such annual rate of redemption interest shall be so established as of September 1, 1981, to become effective October 1, 1981. Thereafter, on September 1 of each year, the annual rate of redemption interest shall be established in the same manner, to become effective on October 1 of the same year.

(4) If subsequent taxes are paid before the time when they would become delinquent, interest shall be computed only from the time of their delinquency. Such taxes shall bear interest at the annual rate set forth in subsection (3) of this section, and no more, from the time when the purchaser becomes entitled to a deed up to the time of issuance of such deed.

(5) All statutory fees paid by the purchaser in connection with such certificate shall bear the same rate of interest as the original amount for which the tax lien on the property was sold, the same to be prorated among the several tracts described in said certificates.

(6) In computing the amount of interest due, portions of months shall be counted as whole months.
C.R.S. § 39-11-108 — CO Code / Title 39 / Article 11 / Section 39-11-108
39-11-108. Manner of conducting public auction - definitions
Status: in_force

39-11-108. Manner of conducting public auction - definitions. (1) On the day designated in the notice of sale, the treasurer shall commence the public auction of the tax liens on those lands and town lots on which the taxes, interest, and fees have not been paid and shall continue the same from day to day, Saturdays and Sundays excepted, until the tax liens on each parcel are sold. Where two or more lots or tracts of land are valued and assessed as one parcel, the treasurer shall sell a single tax lien on such land or tract. The public auction shall be held at the treasurer's office or at another location in the county designated by the treasurer, and all lands and town lots offered at the public auction on the same date of sale shall be offered for public auction at the same location; except that the public auction may be conducted by means of the internet or other electronic medium.

(2) A public auction conducted by means of the internet or other electronic medium to sell lands and town lots under this article shall allow members of the public to submit bids by computer and permit the treasurer to accept bids for as long as the treasurer deems necessary. The county and its employees acting in their official capacity in preparing, conducting, and executing a sale of lands and town lots under this article are not liable for the failure of a device that prevents a person from participating in a sale under this article. As used in this subsection (2), "device" includes, but is not limited to, computer hardware, a computer network, a computer software application, and an internet website.

(3) If there is no bid for any tax lien offered, the offering of such tax lien shall remain open until all the tax liens are offered for sale and the sale is ended or until the treasurer is satisfied that no more sales can be effected, whereupon it is the treasurer's duty to strike off to the county, city, town, or city and county the tax liens on those lands and town lots remaining unsold, for the amount of such taxes, delinquent interest, and fees thereon. When the treasurer strikes off a tax lien on any tract of land or town lot, the treasurer shall issue to the county, city, town, or city and county a certificate of purchase. No taxes levied against any lands for which a county has purchased a tax lien under the provisions of this section shall be payable until the same have been derived by the county from the sale of a tax lien on such lands or from the redemption of such lands.
C.R.S. § 39-22-104 — CO Code / Title 39 / Article 22 / Part 1 / Section 39-22-104
39-22-104. Income tax imposed on individuals, estates, and trusts - single rate - report -
Status: repealed

39-22-104. Income tax imposed on individuals, estates, and trusts - single rate - report - tax preference performance statement - legislative declaration - definitions - repeal. (1) Subject to subsection (2) of this section, with respect to taxable years commencing on or after January 1, 1987, but prior to January 1, 1999, a tax of five percent is imposed on the federal taxable income, as determined pursuant to section 63 of the internal revenue code, of every individual, estate, and trust.

(1.5) Subject to subsection (2) of this section, with respect to taxable years commencing on or after January 1, 1999, but prior to January 1, 2000, a tax of four and three-quarters percent is imposed on the federal taxable income, as determined pursuant to section 63 of the internal revenue code, of every individual, estate, and trust.

(1.7) (a) Except as otherwise provided in section 39-22-627, subject to subsection (2) of this section, with respect to taxable years commencing on or after January 1, 2000, but before January 1, 2020, a tax of four and sixty-three one-hundredths percent is imposed on the federal taxable income, as determined pursuant to section 63 of the internal revenue code, of every individual, estate, and trust.

(b) Except as otherwise provided in section 39-22-627, subject to subsection (2) of this section, with respect to taxable years commencing on or after January 1, 2020, but before January 1, 2022, a tax of four and fifty-five one-hundredths percent is imposed on the federal taxable income, as determined pursuant to section 63 of the internal revenue code, of every individual, estate, and trust.

(c) Except as otherwise provided in section 39-22-627, subject to subsection (2) of this section, with respect to taxable years commencing on or after January 1, 2022, a tax of four and forty one-hundredths percent is imposed on the federal taxable income, as determined pursuant to section 63 of the internal revenue code, of every individual, estate, and trust.

(2) Prior to the application of the rate of tax prescribed in subsection (1), (1.5), or (1.7) of this section, the federal taxable income shall be modified as provided in subsections (3) and (4) of this section.

(3) There shall be added to the federal taxable income:

(a) Any federal net operating loss deduction carried over from a taxable year beginning prior to January 1, 1987;

(b) An amount equal to the interest income which is excluded from gross income for federal income tax purposes pursuant to section 103 (a) of the internal revenue code less amortization of premium on obligations of any state or any political subdivision thereof, other than interest income on obligations of the state of Colorado or any political subdivision thereof which are issued on or after May 1, 1980, and other than interest income on obligations of the state of Colorado or any political subdivision thereof which were issued prior to May 1, 1980, to the extent that such interest is specifically exempt from income taxation under the laws of the state of Colorado authorizing the issuance of such obligations. The amount of such interest shall be the net amount after reduction by the amount of the deductions related thereto which are required by the internal revenue code to be allocated to such classes of interest.

(c) Repealed.

(d) (I) For income tax years beginning on and after January 1, 1992, for those taxpayers who deduct state income taxes pursuant to section 164 (a)(3) of the internal revenue code, an amount equal to the deduction claimed; except that such amount shall be limited to the amount required to reduce the federal itemized amount computed under section 161 of the internal revenue code to the amount of the standard deduction allowable under section 63 (c) of the internal revenue code.

(II) For income tax years beginning on or after January 1, 2000, for two individuals whose federal taxable income is determined on a joint federal return and who deduct state income taxes pursuant to section 164 (a)(3) of the internal revenue code, an amount equal to the deduction claimed; except that such amount shall be limited to the amount required to reduce the federal itemized amount computed under section 161 of the internal revenue code to an amount equal to double the amount of the basic standard deduction allowable under section 63 (c)(2) of the internal revenue code in the case of an individual federal return for an individual who is not the head of a household plus any additional standard deduction allowable under section 63 (c)(3) of the internal revenue code, if applicable.

(e) (I) Any expenses incurred by a taxpayer with respect to expenditures made at, or payments made to, a club licensed pursuant to section 44-3-418 that has a policy to restrict membership on the basis of sex, sexual orientation, gender identity, gender expression, marital status, race, creed, religion, color, ancestry, or national origin. Any such club shall provide on each receipt furnished to a taxpayer a printed statement as follows:

The expenditures covered by this receipt are

nondeductible for state income tax purposes.

(II) The general assembly finds, determines, and declares that the people of the state of Colorado desire to promote and achieve tax equity and fairness among all the state's citizens and further desire to conform to the public policy of nondiscrimination. The general assembly further declares that the provisions of this paragraph (e) are enacted for these reasons and for no other purpose.

(f) Any amount withdrawn from a medical savings account pursuant to section 39-22-504.7 (3)(b)(II) or (3)(b)(III);

(g) For the income tax years commencing on or after January 1, 2000, an amount equal to the charitable contribution deduction allowed by section 170 of the internal revenue code to the extent such deduction includes a contribution of real property to a charitable organization for a conservation purpose for which an income tax credit is claimed pursuant to section 39-22-522;

(h) Repealed.

(i) An amount equal to a business expense for labor services that is deducted pursuant to section 162 (a)(1) of the internal revenue code but that is prohibited from being claimed as a deductible business expense for state income tax purposes pursuant to section 39-22-529;

(j) For income tax years commencing on or after January 1, 2015, but before January 1, 2020, an amount equal to the charitable contribution deduction allowed by section 170 of the internal revenue code to the extent such deduction includes a food contribution during the tax year to a hunger-relief charitable organization for which an income tax credit is claimed pursuant to section 39-22-536;

(k) (I) Prior to January 1, 2025, the amount recaptured in accordance with section 39-22-4705 (2).

(II) This subsection (3)(k) is repealed, effective December 31, 2028.

(l) For income tax years ending on and after the enactment of the March 2020 "Coronavirus Aid, Relief, and Economic Security Act", Pub.L. 116-136, referred to in this section as the "CARES Act", but before January 1, 2021, and for income tax years beginning on and after the enactment of the "CARES Act", but before January 1, 2021, an amount equal to the difference between a taxpayer's net operating loss deduction as determined under section 172 (a) of the internal revenue code before the amendments made by section 2303 of the "CARES Act" and the taxpayer's net operating loss deduction as determined under section 172 (a) of the internal revenue code after the amendments made by section 2303 of the "CARES Act";

(m) For income tax years ending on and after the enactment of the "CARES Act", but before January 1, 2021, and for income tax years beginning on and after the enactment of the "CARES Act", but before January 1, 2021, an amount equal to a taxpayer's excess business loss as determined under section 461 (l) of the internal revenue code without regard to the amendments made by section 2304 of the "CARES Act", but with regard to the technical amendment made by section 2304 (b)(2)(B) of the "CARES Act";

(n) For income tax years ending on and after the enactment of the "CARES Act", but before January 1, 2021, and for income tax years beginning on and after the enactment of the "CARES Act", but before January 1, 2021, an amount equal to the amount in excess of the limitation on business interest under section 163 (j) of the internal revenue code without regard to the amendments made by section 2306 of the "CARES Act";

(o) For income tax years commencing on or after January 1, 2021, but before January 1, 2026, an amount equal to the deduction allowed under section 199A of the internal revenue code for a taxpayer who files a single return and whose adjusted gross income is greater than five hundred thousand dollars, and for taxpayers who file a joint return and whose adjusted gross income is greater than one million dollars; except that this subsection (3)(o) does not apply to a taxpayer who is required to file a schedule F, profit or loss from farming, or successor form, as an attachment to a federal income tax return for the tax year in which the taxpayer claims the deduction allowed under section 199A of the internal revenue code.

(p) Except as otherwise provided in subsection (3)(p.5) of this section, for income tax years commencing on or after January 1, 2022, for taxpayers who claim itemized deductions as defined in section 63 (d) of the internal revenue code and who have federal adjusted gross income in the income tax year equal to or exceeding four hundred thousand dollars:

(I) For a taxpayer who files a single return, the amount by which the itemized deductions deducted from gross income under section 63 (a) of the internal revenue code exceed thirty thousand dollars; and

(II) For taxpayers who file a joint return, the amount by which the itemized deductions deducted from gross income under section 63 (a) of the internal revenue code exceed sixty thousand dollars.

(p.5) (I) For income tax years commencing on or after January 1, 2023, for taxpayers who claim itemized deductions as defined in section 63 (d) of the internal revenue code or the standard deduction as defined in section 63 (c) of the internal revenue code and who have federal adjusted gross income in the income tax year equal to or exceeding three hundred thousand dollars:

(A) For a taxpayer who files a single return, the amount by which the itemized deductions deducted from gross income under section 63 (a) of the internal revenue code exceed, or the standard deduction deducted from gross income under section 63 (c) of the internal revenue code exceeds, twelve thousand dollars; and

(B) For taxpayers who file a joint return, the amount by which the itemized deductions deducted from gross income under section 63 (a) of the internal revenue code exceed, or the standard deduction deducted from gross income under section 63 (c) of the internal revenue code exceeds, sixteen thousand dollars.

(II) For the 2023-24 state fiscal year and state fiscal years thereafter, the general assembly shall annually appropriate an amount at least equal to the amount of revenue generated by the addition to federal taxable income described in subsection (3)(p.5)(I) of this section, calculated without regard to any temporary rate reduction pursuant to section 39-22-627, but not more than the amount required, to fully fund the direct and indirect costs of implementing the healthy school meals for all program as provided in section 22-82.9-209. The provisions of subsection (3)(p.5)(I) of this section constitute a voter-approved revenue change, approved by the voters at the statewide election in November of 2022, and the revenue generated by this voter-approved revenue change may be collected, retained, appropriated, and spent without subsequent voter approval, notwithstanding any other limits in the state constitution or law. The addition to federal taxable income described in subsection (3)(p.5)(I) of this section does not apply for an income tax year that commences after the healthy school meals for all program, or any successor program, is repealed. Upon repeal of the healthy school meals for all program, or any successor program, the commissioner of education shall promptly notify the executive director in writing that the program is repealed.

(q) (I) For income tax years commencing on or after January 1, 2022, but before January 1, 2023, an amount equal to a federal deduction claimed for the income tax year for a food and beverage expense that exceeds fifty percent of the amount of the expense and that was allowed under section 274 (n)(2)(D) of the internal revenue code.

(II) This subsection (3)(q) is repealed, effective December 31, 2030.

(r) Notwithstanding subsection (3)(o) of this section, for income tax years commencing on or after January 1, 2018, an amount equal to the deduction taken under section 199A of the internal revenue code, except to the extent the deduction is otherwise disallowed under section 265 of the internal revenue code, for an electing pass-through entity owner of an electing pass-through entity, as such terms are defined in section 39-22-342, that makes the election allowed in subpart 3 of part 3 of this article 22.

(s) (I) For income tax years commencing on or after January 1, 2024, but before January 1, 2031, an amount equal to a federal deduction claimed for a business meal pursuant to section 274 (k) of the internal revenue code.

(II) This subsection (3)(s) is repealed, effective December 31, 2035.

(t) For income tax years commencing on or after January 1, 2025, an amount equal to the amount of employer contribution that an employee forfeits pursuant to section 39-22-558 (3)(c) and that the taxpayer had previously subtracted from the taxpayer's federal taxable income pursuant to subsection (4)(bb) of this section.

(4) There shall be subtracted from federal taxable income:

(a) An amount equal to any interest income on obligations of the United States and its possessions to the extent included in federal taxable income;

(a.5) Repealed.

(b) To the extent included in federal adjusted gross income, the portion of any gain or loss from the sale or other disposition of property having a higher adjusted basis for Colorado income tax purposes than for federal income tax purposes on the date such property was sold or disposed of in a transaction in which gain or loss was recognized for purposes of federal income tax that does not exceed such difference in basis;

(c) The amount necessary to prevent the taxation under this article of any annuity or other amount of income or gain which was properly included in income or gain and was taxed under the laws of this state for a prior tax year, to the taxpayer, or to a decedent by reason of whose death the taxpayer acquired the right to receive the income or gain, or to a trust or estate from which the taxpayer received the income or gain;

(d) Repealed.

(e) The amount of any refund or credit for overpayment of income taxes imposed by this state or any other taxing jurisdiction to the extent included in gross income for federal income tax purposes but not previously allowed as a deduction for Colorado income tax purposes;

(f) (I) For income tax years commencing on or after January 1, 1989, amounts received as pensions or annuities from any source by any individual who is fifty-five years of age or older at the close of the taxable year, to the extent included in federal adjusted gross income;

(II) For income tax years commencing on or after January 1, 1989, amounts received as pensions or annuities from any source by any individual who is less than fifty-five years of age at the close of the taxable year if such benefits are received because of the death of the person originally entitled to receive such benefits and only to the extent such benefits are included in federal adjusted gross income;

(III) (A) Amounts subtracted under this subsection (4)(f) are capped at twenty thousand dollars per tax year for any individual who is fifty-five years of age or older but less than sixty-five years of age at the close of the taxable year. For income tax years commencing on or after January 1, 2025, the cap set forth in this subsection (4)(f)(III)(A) is calculated by first considering the total amount of social security benefits a taxpayer received that were included in federal taxable income at the close of the taxable year. If the total amount of such social security benefits exceeds the cap set forth in this subsection (4)(f)(III)(A), and the taxpayer's adjusted gross income for the applicable tax year is less than or equal to seventy-five thousand dollars if filing individually or ninety-five thousand dollars if filing jointly, then the cap is increased to an amount equal to the total amount of such social security benefits.

(B) Amounts subtracted under this subsection (4)(f) are capped at twenty-four thousand dollars per tax year for any individual who is sixty-five years of age or older at the close of the taxable year. For income tax years commencing on or after January 1, 2022, the cap set forth in this subsection (4)(f)(III)(B) is calculated by first considering the total amount of social security benefits a taxpayer received that were included in federal taxable income at the close of the taxable year. If the total amount of such social security benefits exceeds the cap set forth in this subsection (4)(f)(III)(B), then the cap is increased to an amount equal to the total amount of such social security benefits.

(C) For the purpose of determining the subtraction allowed by this subsection (4)(f), in the case of a joint return, social security benefits included in federal taxable income shall be apportioned in a ratio of the gross social security benefits of each taxpayer to the total gross social security benefits of both taxpayers.

(D) As used in this subsection (4)(f), "pensions and annuities" means retirement benefits that are periodic payments attributable to personal services performed by an individual prior to his or her retirement from employment and that arise from an employer-employee relationship, from service in the uniformed services of the United States, or from contributions to a retirement plan that are deductible for federal income tax purposes. "Pensions and annuities" includes distributions from individual retirement arrangements and self-employed retirement accounts to the extent that such distributions are not deemed to be premature distributions for federal income tax purposes, amounts received from fully matured privately purchased annuities, social security benefits, and amounts paid from any such sources by reason of permanent disability or death of the person entitled to receive the benefits.

(E) 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 the general purpose of the tax expenditure created in subsection (4)(f)(III)(B) of this section is to provide tax relief for certain individuals and that the specific purpose of the tax expenditure is to provide such tax relief to persons aged fifty-five and older in light of the increase in property tax rates in the income tax year commencing on January 1, 2023. The general assembly and the state auditor shall measure the effectiveness of the exemption allowed by this section based on the total amount of social security benefits in excess of twenty thousand dollars per individual per tax year that individuals aged fifty-five to sixty-four, inclusive, subtract from their federal taxable income when calculating their state taxable income.

(F) The department of revenue, in consultation with the state auditor, shall collect the information necessary for the state auditor to measure the effectiveness of the income tax subtraction allowed by this section based on the total amount of social security benefits in excess of twenty thousand dollars per individual per tax year that individuals who are aged fifty-five to sixty-four, and whose adjusted gross income is less than or equal to seventy-five thousand dollars if filing individually or ninety-five thousand dollars if filing jointly, subtract from their federal taxable income when calculating their state taxable income.

(g) Repealed.

(h) (I) Prior to January 1, 2025, any amount contributed to a medical savings account by an employer pursuant to section 39-22-504.7 (2)(e), to the extent such amount is not claimed as a deduction on the taxpayer's federal tax return.

(II) This subsection (4)(h) is repealed, effective December 31, 2028.

(i) (I) (A) For income tax years commencing on or after January 1, 1998, an amount equal to the portion attributable to interest and other income of a distribution under a qualified state tuition program that is distributed for the purpose of meeting qualified higher education expenses of a designated beneficiary, to the extent such amount is included in federal taxable income;

(B) Before January 1, 2026, an amount equal to the portion attributable to interest and other income of a distribution under a qualified ABLE program that is distributed for the purpose of meeting qualified disability expenses of a designated beneficiary, to the extent such amount is included in federal taxable income;

(C) Subsection (4)(i)(I)(B) of this section and this subsection (4)(i)(I)(C) are repealed, effective January 1, 2030.

(II) (A) For income tax years commencing on or after January 1, 2001, but before January 1, 2022, an amount equal to all payments or contributions made during the taxable year under an advance payment contract, to a savings trust account, or otherwise in connection with a qualified state tuition program established by collegeinvest created in section 23-3.1-203, or to a qualified state tuition program that is affiliated with an educational institution in the state and that is established and maintained pursuant to section 529 of the internal revenue code or any successor section.

(B) Except as provided in subsection (4)(i)(II)(C) of this section, for income tax years commencing on or after January 1, 2022, an amount equal to all payments or contributions, not to exceed twenty thousand dollars per taxpayer per beneficiary for a taxpayer who files a single return, or thirty thousand dollars per taxpayer per beneficiary for taxpayers who file a joint return, made during the taxable year under an advance payment contract, to a savings trust account, or otherwise in connection with a qualified state tuition program established by collegeinvest created in section 23-3.1-203, or to a qualified state tuition program that is affiliated with an educational institution in the state and that is established and maintained pursuant to section 529 of the internal revenue code or any successor section, or, before January 1, 2026, in connection with a qualified ABLE program. Notwithstanding subsection (4)(i)(III)(D) of this section, collegeinvest may treat a change in beneficiary as a nonqualifying distribution if the change was made for the purpose of evading the limit in this subsection (4)(i)(II)(B).

(C) For income tax years commencing on or after January 1, 2023, the limits specified in subsection (4)(i)(II)(B) of this section are annually adjusted by the percentage change in the combined average annual costs of tuition and room and board for all state institutions of higher education, as defined in section 24-30-1301 (18). The department of higher education shall annually calculate the percentage change described in this subsection (4)(i)(II)(C) and shall provide the calculation to the department of revenue by a deadline determined by the department of revenue. The department of revenue may round the adjusted limits to the nearest hundred dollars.

(III) No subtraction is allowed pursuant to this subsection (4)(i) to the extent that such payments or contributions are excluded from the taxpayer's federal taxable income for the taxable year. Any subtraction taken under this subsection (4)(i) is added to the account holder's taxable income in the taxable year or years in which any distribution, refund, or any other withdrawal is made pursuant to an advance payment contract, from a savings trust account, or otherwise in connection with a qualified state tuition program for any reason other than:

(A) To pay qualified higher education expenses;

(B) As a result of the beneficiary's death or disability;

(C) As a result of receiving a scholarship and as long as the aggregate amount of distributions, refunds, or withdrawals made pursuant to this subsection (4)(i)(III)(C) do not exceed the amount of the scholarship provided during such tax year; or

(D) As a result of a change in designated beneficiary, if the change complies with section 529 (c)(3)(C)(ii) of the internal revenue code.

(III.5) No subtraction is allowed pursuant to this subsection (4)(i) to the extent that such payments or contributions are excluded from the taxpayer's federal taxable income for the taxable year. Before January 1, 2026, any subtraction taken under this subsection (4)(i) is added to the account holder's taxable income in the taxable year or years in which any distribution, refund, or any other withdrawal is made pursuant to an advance payment contract, from a savings trust account, or otherwise in connection with a qualified ABLE program for any reason other than:

(A) To pay qualified disability expenses;

(B) As a result of the beneficiary's death or disability; or

(C) As a result of a change in designated beneficiary, if the change complies with section 529A (c)(1)(C)(ii) of the internal revenue code.

(D) This subsection (4)(i)(III.5) is repealed, effective January 1, 2030.

(IV) As used in this subsection (4)(i), unless the context otherwise requires:

(A) "Designated beneficiary" has the same meaning as defined in section 529 (e)(1) of the internal revenue code.

(B) "Qualified higher education expense" has the same meaning as defined in section 529 (e)(3) of the internal revenue code, and expenses for fees, books, supplies, and equipment required for the participation of a designated beneficiary in an apprenticeship program as defined in section 529 (c)(8) of the internal revenue code.

(C) "Qualified state tuition program" means a qualified tuition program as defined in section 529 (b) of the internal revenue code.

(D) "Qualified ABLE program", before January 1, 2026, means a qualified ABLE program as defined in section 529A (b) of the internal revenue code.

(E) "Qualified disability expense", before January 1, 2026, has the same meaning as defined in section 529A (e)(5) of the internal revenue code.

(IV.5) Subsections (4)(i)(IV)(B) and (4)(i)(IV)(C) of this section and this subsection (4)(i)(IV.5) are repealed, effective January 1, 2030.

(V) Beginning January 1, 2022, and annually thereafter, collegeinvest shall provide the department with a secure electronic report containing information for the 529 qualified state tuition program's account owners and third-party contributors necessary for the administration of the deduction allowed in this section. The report must include:

(A) The name and social security number, and the contribution amount, of all Colorado taxpayers making a contribution to a collegeinvest account in the reporting tax year commencing on or after January 1, 2021;

(B) The name and social security number, and the contribution amount, of any other Colorado taxpayer making a contribution to a collegeinvest account in the reporting tax year commencing on or after January 1, 2021, who intends to participate in the deduction allowed in this section; and

(C) The name and social security number, and the distribution amount, of each account holder of a collegeinvest account who is also a Colorado taxpayer making a distribution in the reporting tax year commencing on or after January 1, 2021, and the reason, if any, for the distribution.

(VI) The purpose of the deduction authorized in this subsection (4)(i) is to create additional incentives for saving for college tuition not already created by other state or federal law.

(j) to (l.5) Repealed.

(m) (I) Except as provided in subparagraph (VII) of this paragraph (m), for any income tax year commencing on or after January 1, 2001, for any individual who claims the basic standard deduction allowed under section 63 (c)(2) of the internal revenue code on the individual's federal return and, therefore, cannot claim an itemized deduction for charitable contributions pursuant to section 170 of the internal revenue code, an amount equal to the amount of any deduction based upon the aggregate amount of charitable contributions in excess of five hundred dollars that the individual could have claimed pursuant to section 170 of the internal revenue code if the individual had not claimed the basic standard deduction.

(II) Any state income tax modification allowed pursuant to the provisions of subparagraph (I) of this paragraph (m) shall be published in rules promulgated by the executive director in accordance with article 4 of title 24, C.R.S., and shall be included in income tax forms for that taxable year.

(III) to (VI) Repealed.

(VII) For any income tax year commencing on or after January 1, 2015, but before January 1, 2020, any individual who claims an income tax credit allowed in section 39-22-536 may not claim the deduction set forth in this paragraph (m) for the food contribution to the hunger-relief charitable organization.

(n) Repealed.

(n.5) (I) (A) For income tax years commencing on or after January 1, 2014, but prior to January 1, 2017, and for income tax years commencing on or after January 1, 2020, but prior to January 1, 2025, an amount equal to fifty percent of a landowner's costs incurred in performing wildfire mitigation measures in that income tax year on his or her property located within the state; except that the amount of the deduction claimed in an income tax year shall not exceed two thousand five hundred dollars or the total amount of the landowner's federal taxable income for the income tax year for which the deduction is claimed, whichever is less.

(A.5) For income tax years commencing on or after January 1, 2017, but prior to January 1, 2020, an amount equal to one hundred percent of a landowner's costs incurred in performing wildfire mitigation measures in that income tax year on his or her property located within the state; except that the amount of the deduction claimed in an income tax year shall not exceed two thousand five hundred dollars or the total amount of the landowner's federal taxable income for the income tax year for which the deduction is claimed, whichever is less.

(B) In the case of two taxpayers filing a joint return, the amount subtracted from federal taxable income shall not exceed two thousand five hundred dollars in any taxable year. In the case of two taxpayers who may legally file a joint return but actually file separate returns, only one of the taxpayers may claim the deduction specified in this paragraph (n.5).

(C) In the case of real property owned as tenants in common, the deduction allowed pursuant to this paragraph (n.5) shall only be allowed to one of the individuals of the ownership group.

(II) A landowner who performs wildfire mitigation measures on his or her real property located within the state may claim the deduction authorized by this paragraph (n.5) if the wildfire mitigation measures are performed in a wildland-urban interface area.

(III) For purposes of this paragraph (n.5):

(A) "Colorado state forest service" means the Colorado state forest service identified in section 23-31-302, C.R.S.

(B) "Costs" means any actual out-of-pocket expense incurred and paid by the landowner, documented by receipt, for performing wildfire mitigation measures. "Costs" do not include any inspection or certification fees, in-kind contributions, donations, incentives, or cost sharing associated with performing wildfire mitigation measures. "Costs" do not include expenses paid by the landowner from any grants awarded to the landowner for performing wildfire mitigation measures.

(C) "Landowner" means any owner of record of private land located within the state, including any easement, right-of-way, or estate in the land, and includes the heirs, successors, and assigns of such land, and shall not include any partnership, S corporation, or other similar entity that owns private land as an entity.

(D) "Wildfire mitigation measures" means the creation of a defensible space around structures; the establishment of fuel breaks; the thinning of woody vegetation for the primary purpose of reducing risk to structures from wildland fire; or the secondary treatment of woody fuels by lopping and scattering, piling, chipping, removing from the site, or prescribed burning; so long as such activities meet or exceed any Colorado state forest service standards or any other applicable state rules.

(IV) This subsection (4)(n.5) is repealed, effective January 1, 2028.

(o) For income tax years commencing on or after January 1, 2011, an amount equal to any amount received as employer matching contributions to an adult learner's individual trust account or savings account made pursuant to part 3 of article 3.1 of title 23, C.R.S.;

(p) For income tax years commencing on or after January 1, 2014, any amount received as a grant from the military family relief fund created in section 28-3-1502, C.R.S., to the extent that it is included in federal taxable income;

(q) For income tax years commencing on or after January 1, 2013, an amount equal to any amount received as compensation for an exonerated person pursuant to section 13-65-103, C.R.S., on or after January 1, 2014, except as to those portions of the judgment awarded as attorney fees for bringing a claim under such section;

(r) For income tax years commencing on or after January 1, 2014, if a taxpayer is licensed under the "Colorado Marijuana Code", article 10 of title 44, or its predecessor codes, an amount equal to any expenditure that is eligible to be claimed as a federal income tax deduction but is disallowed by section 280E of the internal revenue code because marijuana is a controlled substance under federal law;

(r.5) For income tax years commencing on or after January 1, 2024, if a taxpayer is licensed pursuant to the "Colorado Natural Medicine Code", article 50 of title 44, an amount equal to any expenditure that is eligible to be claimed as a federal income tax deduction but is disallowed by section 280E of the internal revenue code because natural medicine is a controlled substance under federal law;

(s) Repealed.

(t) (I) For income tax years commencing on or after January 1, 2015, and prior to January 1, 2025, compensation that would be subject to withholding under section 39-22-604, received by a nonresident individual for performing disaster-related work in the state during a disaster period.

(II) For purposes of this paragraph (t):

(A) "Declared state disaster emergency" means a disaster or emergency event for which the governor has issued an executive order declaring a disaster emergency.

(B) "Disaster period" means a period that begins with the day of the governor's executive order declaring a state disaster emergency and that extends for a period of sixty calendar days after the expiration of the governor's executive order.

(C) "Disaster-related work" means repairing, renovating, installing, building, or rendering services that relate to infrastructure that has been damaged, impaired, or destroyed by a declared state disaster emergency or providing emergency medical, firefighting, law enforcement, hazardous material, search and rescue, or other emergency service related to a declared state disaster emergency.

(D) "Infrastructure" means property and equipment owned or used by communications networks, gas and electric utilities, water pipelines, and public roads and bridges and related support facilities that service multiple customers or citizens, including but not limited to real and personal property such as buildings, offices, lines, poles, pipes, structures, and equipment.

(III) This subsection (4)(t) is repealed, effective December 31, 2028.

(u) For income tax years commencing on or after January 1, 2016, an amount equal to any compensation received for active duty service in the armed forces of the United States by an individual who has reacquired residency in the state pursuant to section 39-22-110.5, to the extent that the compensation is included in federal taxable income;

(v) Repealed.

(w) (I) For income tax years commencing on or after January 1, 2017, and prior to January 1, 2025, to the extent included in federal taxable income and as permitted under part 47 of this article 22, an amount equal to any interest and other income earned on the investment of the money in a first-time home buyer savings account during the taxable year.

(II) Any exclusion taken under subparagraph (I) of this paragraph (w) is subject to recapture under paragraph (k) of subsection (3) of this section as specified in section 39-22-4705.

(III) This subsection (4)(w) is repealed, effective December 31, 2028.

(x) (I) Except as otherwise provided in subsection (4)(x)(II) of this section, for income tax years commencing on or after January 1, 2018, all income earned, to the extent included in federal taxable income except as otherwise provided in subsection (4)(x)(IV) of this section, as a direct result of winning a medal while competing for the United States of America at the Olympic games.

(II) The subtraction provided for in subsection (4)(x)(I) of this section does not apply to a taxpayer whose federal adjusted gross income for the income tax year in which the taxpayer has income earned as a direct result of winning a medal, as determined prior to application of this subsection (4)(x), exceeds one million dollars or, if the taxpayer's filing status is married filing separately, exceeds five hundred thousand dollars.

(III) As used in this subsection (4)(x):

(A) "Income earned as a direct result of winning a medal" includes both the monetary value of the medal itself and any monetary award given for winning the medal by the United States Olympic committee or any sport-specific national governing body or Paralympic sport organization but does not include endorsement income or nonmonetary benefits.

(B) "Olympic games" means the summer and winter Olympic games and the summer and winter Paralympic games.

(IV) The monetary value of any medal won while competing for the United States of America at either the summer or winter Olympic games or the summer or winter Paralympic games shall be subtracted from federal taxable income regardless of whether or not said monetary value is included in federal taxable income.

(y) (I) For income tax years commencing on or after January 1, 2019, but prior to January 1, 2029, an amount equal to a qualified individual's military retirement benefits included in federal adjusted gross income, but not to exceed the following amounts:

(A) Four thousand five hundred dollars for income tax years commencing on or after January 1, 2019, but prior to January 1, 2020;

(B) Seven thousand five hundred dollars for income tax years commencing on or after January 1, 2020, but prior to January 1, 2021;

(C) Ten thousand dollars for income tax years commencing on or after January 1, 2021, but before January 1, 2022; or

(D) Fifteen thousand dollars for income tax years commencing on or after January 1, 2022, but before January 1, 2029.

(II) As used in this subsection (4)(y):

(A) "Military retirement benefits" means any retirement benefits received as a result of the individual's service in the armed forces of the United States.

(B) "Qualified individual" means an individual who is under fifty-five years of age at the close of the taxable year.

(III) (A) In accordance with section 39-21-304 (1), which requires each bill that extends a tax expenditure to include a tax preference performance statement as part of a statutory legislative declaration if one was not previously included in the tax expenditure, the general assembly finds and declares that the purpose of the tax expenditure in this subsection (4)(y) is to provide tax relief to certain individuals, namely military retirees.

(B) The general assembly and the state auditor shall measure the effectiveness of this tax expenditure in achieving the purpose specified in subsection (4)(y)(III)(A) of this section by measuring whether military retirees are benefitting from the tax expenditure, and by how much.

(z) (I) Except as provided in subsection (4)(z)(II) of this section, for income tax years beginning on or after January 1, 2021, but before January 1, 2022, the sum of the amount by which taxable income for the specified tax years exceeds the taxable income for the modified specified tax years computed separately for each income tax year, plus the sum of any amounts added back by the taxpayer as specified in subsections (3)(l), (3)(m), and (3)(n) of this section.

(II) (A) The subtraction calculated under subsection (4)(z)(I) of this section applies after the application of the other subtractions provided for in this subsection (4) and is limited to the lesser of the taxpayer's Colorado taxable income or three hundred thousand dollars.

(B) Any amount of the subtraction calculated under subsection (4)(z)(I) of this section that a taxpayer may not claim by operation of subsection (4)(z)(II)(A) of this section may be carried forward to subsequent tax years as a subtraction from the taxpayer's federal taxable income until exhausted; except that each tax year's subtraction may not exceed the lesser of the taxpayer's Colorado taxable income or one hundred fifty thousand dollars for the income tax years commencing on or after January 1, 2022, but before January 1, 2026, and each year's subtraction may not exceed the taxpayer's Colorado taxable income in any income tax years thereafter. Any subtraction must be applied first to the earliest income tax years possible.

(III) A taxpayer that applies the subtraction allowed in this subsection (4)(z) with respect to qualified improvement property shall calculate the gain or loss on a sale of such qualified improvement property for purposes of the subtraction in subsection (4)(b) of this section using the basis reported on their federal income tax return at the time of the sale.

(IV) As used in this subsection (4)(z), unless the context otherwise requires:

(A) "CARES Act" means the March 2020 "Coronavirus Aid, Relief, and Economic Security Act", Pub.L. 116-136.

(B) "Colorado taxable income" means federal taxable income as modified by this article 22 without regard to this subsection (4)(z).

(C) "Retroactive provisions of the CARES Act" means the changes made to the internal revenue code in sections 2303, 2304, 2306, and 2307 of the CARES Act.

(D) "Taxable income for the modified specified tax years" means the taxpayer's Colorado taxable income for tax years ending before March 27, 2020, as calculated under the internal revenue code and Colorado law applicable to the taxpayer's return as of the date the return was due, as modified by the application of the retroactive provisions of the CARES Act applied to the calculation of the taxpayer's federal taxable income, but only to the extent the taxpayer appropriately applied those provisions to the taxpayer's federal income tax returns for each tax year.

(E) "Taxable income for the specified tax years" means the taxpayer's Colorado taxable income for tax years ending before March 27, 2020, as calculated under Colorado law applicable to the taxpayer's return as of the date the return was due.

(aa) Repealed.

(bb) For income tax years commencing on or after January 1, 2024, but before January 1, 2027, an amount equal to any employer contribution received from an employer pursuant to section 39-22-558. This subsection (4)(bb) is repealed, effective December 31, 2034.

(cc) (I) For income tax years commencing on or after January 1, 2026, but before January 1, 2034, an amount equal to the amount of any Segal AmeriCorps Education Award received for service in the AmeriCorps national service program, which is used by the taxpayer during the income tax year.

(II) 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 purpose of the income tax subtraction created in this subsection (4)(cc) is to provide tax relief for certain individuals, specifically taxpayers who have received Segal AmeriCorps Education Awards for AmeriCorps service; and

(B) The general assembly and the state auditor shall measure the effectiveness of the subtraction in achieving the purpose specified in subsection (4)(cc)(II)(A) of this section based on the number and aggregate amount of subtractions claimed in a tax year.

(III) The department of revenue shall maintain information about the number of taxpayers who claim the subtraction in a tax year and the aggregate amount of subtractions claimed in a tax year, in addition to any other information determined necessary by the department of revenue, to evaluate the effectiveness of the tax subtraction allowed in this subsection (4)(cc) in achieving the purpose specified in subsection (4)(cc)(II)(A) of this section, and shall provide this information upon request of the general assembly or the state auditor.

(IV) This subsection (4)(cc) is repealed, effective July 1, 2039.

(5) (a) For income tax years commencing prior to January 1, 2023, any person who is required by the terms of this article 22 to file a return whose only activities in Colorado consist of making sales, who does not own or rent real estate within the state of Colorado, and whose annual gross sales in or into this state amount to not more than one hundred thousand dollars may elect to pay a tax of one-half of one percent of his annual gross receipts derived from sales in or into Colorado in lieu of paying an income tax.

(b) This subsection (5) is repealed, effective July 1, 2025.
C.R.S. § 39-8-107 — CO Code / Title 39 / Article 8 / Section 39-8-107
39-8-107. Hearings on appeal
Status: repealed

39-8-107. Hearings on appeal. (1) At the hearing upon a petition, the assessor or the assessor's authorized representative shall be present and shall produce information to support the basis and amount of the assessor's valuation of the property. The board shall hear and consider all testimony and examine all exhibits produced or introduced by either the petitioner or the assessor, with no presumption in favor of any pending valuation, and may subpoena witnesses to testify. The costs of producing the petitioner's witnesses shall be paid by the petitioner, and the costs of producing the assessor's witnesses shall be paid by the county. On the basis of the testimony produced and the exhibits introduced, the board shall grant or deny the petition, in whole or in part, and shall notify the petitioner and the assessor in writing. If the board denies the petition, in whole or in part, such written notice shall inform the petitioner of the right to appeal within the thirty-day period following the denial to the district court or the board of assessment appeals pursuant to the provisions of section 39-8-108 (1) or within the thirty-day period following the denial to submit the case to arbitration pursuant to the provisions of section 39-8-108.5. Such notice shall state that, if the appeal is to the board of assessment appeals, the hearing before the board of assessment appeals shall be the last hearing at which testimony, exhibits, or any other type of evidence may be introduced by either party and that, if there is an appeal to the court of appeals pursuant to section 39-8-108 (2), the record from the hearing before the board of assessment appeals and no new evidence shall be the basis for the court's decision. The phone number and address of the board of assessment appeals shall also be included on the notice. The notice shall also state, in general terms, how to pursue arbitration and that, if a taxpayer submits the case to arbitration, the decision reached under such process shall be final and not subject to review. If a referee heard the case, the board shall, at the written request of any taxpayer or any agent of such taxpayer within seven working days after receipt of said request, make available to the taxpayer or agent the referee's findings and recommendations. At the board's election, the board may either mail, fax, or send by electronic transmission such findings and recommendations to the address, phone number, or electronic address supplied by said taxpayer or agent. Upon receipt of such request, the board shall notify the taxpayer or agent of the estimated cost of providing such findings and recommendations, payment of which shall be made prior to providing such findings and recommendations. Upon providing such findings and recommendations, the board may include a bill for the reasonable cost above the estimated cost and up to the statutory maximum which shall be due and payable upon receipt by the taxpayer or agent.

(2) (a) The county board of equalization shall continue its hearings from time to time until all petitions have been heard, but all such hearings shall be concluded and decisions rendered thereon by the close of business on August 5 of that year; except that, in a county that has made an election pursuant to section 39-5-122.7 (1), all such hearings shall be concluded and decisions rendered thereon by the close of business on November 1 of that year. Except as authorized in paragraph (b) of this subsection (2), any decision shall be mailed to the petitioner within five business days of the date on which such decision is rendered.

(b) A board of county commissioners may authorize by resolution a petitioner or a petitioner's agent to elect to receive the decision rendered by the board as required in paragraph (a) of this subsection (2) by fax or electronic mail at a phone number or electronic mail address supplied by the petitioner or the petitioner's agent. If no election is made by the petitioner or the petitioner's agent, the county board of equalization shall mail the decision.

(3) At the written request of any taxpayer or any agent of a taxpayer and subject to confidentiality requirements as provided by law, the assessor shall, within three working days after receipt of a request, make available to the taxpayer or agent the data used by the assessor in determining the actual value of any property owned by a taxpayer. At the assessor's election, the assessor may either mail, fax, or send by electronic transmission to the address, phone number, or electronic address supplied by a taxpayer or agent any requested data. The assessor shall provide to a taxpayer making the request the data derived from the declarations filed pursuant to the provisions of article 14 of this title 39, the primary method and rates used to value the property, and any confidential data, provided that the confidential data is presented in such a manner that the source cannot be identified. Upon receipt of the request, the assessor shall notify the taxpayer or agent of the estimated cost of providing the information, payment of which shall be made prior to providing the information. Upon providing the information, the assessor may include a bill for the reasonable cost above the estimated cost and up to the statutory maximum which shall be due and payable upon receipt by the taxpayer or agent.

(4) The assessor may not rely on any confidential information which is not available for review by the taxpayer, unless such confidential data is presented in such a manner that the source cannot be identified.

(5) (a) (I) On and after August 10, 2011, in addition to any other requirements under law, any petitioner appealing either a valuation of rent-producing commercial real property to the board of assessment appeals pursuant to section 39-8-108 (1) or a denial of an abatement of taxes pursuant to section 39-10-114 shall provide to the county board of equalization or to the board of county commissioners of the county in the case of an abatement, and not to the board of assessment appeals, the following information, if applicable:

(A) Actual annual rental income for two full years including the base year for the relevant property tax year;

(B) Tenant reimbursements for two full years including the base year for the relevant property tax year;

(C) Itemized expenses for two full years including the base year for the relevant property tax year; and

(D) Rent roll data as of the valuation date, including the name of any tenants, the address, unit, or suite number of the subject property, lease start and end dates, option terms, base rent, square footage leased, and vacant space for two years including the year of the valuation date and the prior year.

(II) The petitioner shall provide the information required by subsection (5)(a)(I) of this section within ninety days after the appeal has been filed with the board of assessment appeals; except that a petitioner who has already provided information to an assessor in accordance with section 39-5-122 (2.5) is not required to provide any additional information under this subsection (5)(a).

(b) (I) The assessor, the county board of equalization, or the board of county commissioners of the county, as applicable, shall, upon request made by the petitioner, provide to a petitioner who has filed an appeal with the board of assessment appeals not more than ninety days after receipt of the petitioner's request, the following information:

(A) The primary method used by the county to determine the value of the subject property; and

(B) The rates used by the county to determine the value of the subject property under the method identified in accordance with subsection (5)(b)(I)(A) of this section.

(II) The party providing the information to the petitioner pursuant to subparagraph (I) of this paragraph (b) shall redact all confidential information contained therein.

(c) If a petitioner fails to provide the information required by subparagraph (I) of paragraph (a) of this subsection (5) by the deadline specified in subparagraph (II) of said paragraph (a), the county may move the board of assessment appeals to compel disclosure and to issue appropriate sanctions for noncompliance with such order. The motion may be made directly by the county attorney and shall be accompanied by a certification that the county assessor or the county board of equalization has in good faith conferred or attempted to confer with such petitioner in an effort to obtain the information without action by the board of assessment appeals. If an order compelling disclosure is issued under this paragraph (c) and the petitioner fails to comply with such order, the board of assessment appeals may make such orders in regard to the noncompliance as are just and reasonable under the circumstances, including an order dismissing the action or the entry of a judgment by default against the petitioner. Interest due the taxpayer shall cease to accrue as of the date the order compelling disclosure is issued, and the accrual of interest shall resume as of the date the contested information has been provided by the taxpayer.

(d) In the notice of determination, the county board of equalization shall inform a taxpayer of the taxpayer's obligation to provide the information required by paragraph (a) of this subsection (5).

(e) The county board of equalization and the board of county commissioners receiving any information provided by a petitioner pursuant to subparagraph (I) of paragraph (a) of this subsection (5) that is exempt from disclosure under either section 24-72-204 (3)(a)(IV), C.R.S., or another provision of the "Colorado Open Records Act", part 2 of article 72 of title 24, C.R.S., shall keep such information confidential; except that such information may be disclosed to the administrator and the employees of his or her office, the board of assessment appeals, the county board of equalization, the board of county commissioners of the county in which the subject property is located, the office of the county assessor, or a person retained to appraise or provide value consultation in connection with the subject property where such information is pertinent to an appeal.

(f) Nothing in this subsection (5) shall be construed to apply to a public utility whose valuation for property tax purposes is determined by the administrator in accordance with the provisions of article 4 of this title.

(6) Repealed.
C.R.S. § 39-22-506 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-506
39-22-506. Tentative carry-back adjustment - application - allowance
Status: repealed

39-22-506. Tentative carry-back adjustment - application - allowance. (Repealed)
C.R.S. § 39-22-2108 — CO Code / Title 39 / Article 22 / Part 21 / Section 39-22-2108
39-22-2108. Report to the general assembly
Status: in_force

39-22-2108. Report to the general assembly. (1) For each allocation year, the authority shall, by December 31 of that year, provide a written report to the general assembly and shall further make the report available to the public. With respect to allocated state affordable housing tax credits under section 39-22-2102, the report must:

(a) Specify the number of qualified developments that have been allocated such tax credits during the allocation year and the total number of units supported by each development;

(b) Describe each qualified development that has been allocated such credits including, without limitation, the geographic location of the development, the household type and any specific demographic information available about residents intended to be served by the development, the income levels intended to be served by the development, and the rents or set-asides authorized for each development; and

(c) Provide housing market and demographic information that demonstrates how the qualified developments supported by the tax credits are addressing the need for affordable housing within the communities they are intended to serve as well as information about any remaining disparities in the affordability of housing within those communities.
C.R.S. § 39-22-5403 — CO Code / Title 39 / Article 22 / Part 54 / Section 39-22-5403
39-22-5403. Credit against tax - middle-income housing developments
Status: in_force

39-22-5403. Credit against tax - middle-income housing developments. (1) For the income tax years during the credit period, a qualified taxpayer is allowed a credit against the income taxes imposed by this article 22 in an amount determined by the authority pursuant to this part 54.

(2) The authority may allocate a credit to the owner of a qualified development by issuing an allocation certificate to the owner. The authority may determine the time at which it will issue an allocation certificate. The authority shall determine the amount of the credit. All credit allocations must be made according to the allocation plan and each credit must be necessary for the financial feasibility of the qualified development.

(3) The authority shall not allocate a credit to an owner pursuant to this part 54 unless the qualified development meets the following requirements:

(a) The qualified development is the subject of a recorded restrictive covenant requiring the development to be maintained and operated as a qualified development for the length of the compliance period or longer; and

(b) The qualified development meets the accessibility and adaptability requirements of Title VIII of the federal "Civil Rights Act of 1968", as amended by the federal "Fair Housing Amendments Act of 1988", 24 U.S.C. sec. 3601 et seq.

(4) (a) During each calendar year of the period beginning on January 1, 2025, and ending on December 31, 2029, the authority may allocate a credit, the full amount of which may be claimed by a qualified taxpayer against the taxes imposed by this article 22 for each tax year of the five-year credit period.

(b) (I) The aggregate amount of all credits allocated by the authority in each calendar year must not exceed the following amounts:

(A) For calendar year 2025, five million dollars;

(B) For calendar year 2026, five million dollars;

(C) For calendar year 2027, ten million dollars;

(D) For calendar year 2028, ten million dollars; and

(E) For calendar year 2029, ten million dollars.

(II) The authority may also allocate any unallocated credits from preceding calendar years, and these unallocated credits are not included in the annual dollar limits specified in subsection (4)(b)(I) of this section.

(c) The authority shall add the aggregate amount of any unallocated credits remaining as of December 31, 2029, to the amount of credits the authority may allocate pursuant to part 21 of this article 22.

(5) If the amount of a credit allocated pursuant to this section exceeds the taxes due on the qualified taxpayer's income for the taxable year, the excess credit amount may be carried forward as a credit against the qualified taxpayer's income tax liability for up to three tax years following the credit period and must be applied first to the earliest years possible. Any amount of the credit that is not applied against income tax liability within this three-year carry-forward period shall not be refunded to the taxpayer.

(6) If an owner of a qualified development receiving an allocation of a credit is a partnership, limited liability company, S corporation, or similar pass-through entity, the owner may allocate the credit among its partners, shareholders, members, or other qualified taxpayers in any manner agreed to by such persons, regardless of whether any such persons are deemed a partner for federal income tax purposes. The owner shall certify to the department the amount of credit allocated to each partner, shareholder, member, or other qualified taxpayer. Each partner, shareholder, member, or other qualified taxpayer admitted as a partner, shareholder, member, or other qualified taxpayer of the owner prior to the filing of a tax credit claiming the credit is allowed to claim such amount, subject to any restrictions set forth in this part 54 or imposed by the authority or the department.

(7) To claim the tax credit allowed in this part 54, an owner of a qualified development to which the authority allocated a credit and any qualified taxpayer to which an owner has allocated a portion of its credit shall file with its state income tax return the following documents:

(a) A copy of the allocation certificate issued by the authority; and

(b) A copy of the owner's certification to the department regarding its allocation of the credit among the qualified taxpayers having ownership interests in the qualified development, if any.
C.R.S. § 39-22-551 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-551
39-22-551. Industrial clean energy tax credit - tax preference performance statement - defi
Status: repealed

39-22-551. Industrial clean energy tax credit - tax preference performance statement - definitions - report - repeal. (1) (a) 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 the purpose of the tax credit provided for in this section is to induce certain designated behavior by taxpayers and to provide a reduction in income tax liability for certain businesses or individuals by allowing an owner of an industrial facility to receive a credit against income tax for the costs associated with conducting industrial studies or for implementing a plan to put into service greenhouse gas emissions reduction improvements.

(b) The general assembly and the state auditor shall measure the effectiveness of the credit in achieving the purposes specified in subsection (1)(a) of this section based on the information required and reported by the office pursuant to subsection (10)(b) of this section, and based on the number and value of the credits claimed.

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

(a) "Applicable percentage" means thirty percent, except as provided in subsection (3)(b)(II) of this section.

(b) "Certified greenhouse gas emissions reduction improvements" means greenhouse gas emissions reduction improvements to a qualified industrial facility that have been certified by the office as meeting the standards of the office.

(c) "Colorado energy office" or "office" means the Colorado energy office created in section 24-38.5-101.

(d) "Department" means the department of revenue.

(e) "Greenhouse gas emissions reduction improvements" means improvements that help to measurably reduce greenhouse gas emissions. "Greenhouse gas emissions reduction improvements" may include one or more of the following equipment purchases, improvements, and retrofits:

(I) Replacing fossil-fuel-powered off-road equipment such as forklifts and construction equipment with electric equipment;

(II) Replacing fossil-fuel-fired equipment for space or water heating or industrial process heating with high-efficiency electric equipment;

(III) Replacing fossil-fuel-fired or compressed air-driven industrial process equipment with high-efficiency electric equipment;

(IV) Placing in service advanced refrigeration systems that reduce greenhouse gas emissions;

(V) Placing in service electric charging infrastructure for electric vehicles at an industrial facility;

(VI) Placing in service waste heat recovery technology;

(VII) Upgrading or implementing energy monitoring systems;

(VIII) Installing high efficiency electric pumps, motors, compressors, and lighting;

(IX) Installing variable volume or load efficiency equipment;

(X) Installing carbon capture equipment which provides supporting information that demonstrates a net reduction in greenhouse gas emissions when accounting for energy-related emissions released to operate the carbon capture equipment and provides a permanent durable carbon storage plan; except that the captured carbon may not be used for enhanced oil recovery;

(XI) Installing equipment used for collection of biomethane;

(XII) Replacing fossil-fuel-fired equipment with hydrogen fueled equipment;

(XIII) Installing hydrogen fueling stations for fuel cell vehicles at industrial facilities;

(XIV) Converting fossil-fuel-powered pumps, compressors, and controllers to compressed air-driven or electric-driven pumps, compressors, and controllers;

(XV) Installing onsite energy storage;

(XVI) Installing or upgrading to utility service feed equipment to directly support the implementation of any of the electrification improvements set forth in this subsection (2)(e);

(XVII) Placing in service carbon management systems including direct air capture and other forms of carbon dioxide removal;

(XVIII) Material substitutions within industrial processes to reduce industrial process greenhouse gas emissions by a minimum of fifteen percent when compared to existing production practices; and

(XIX) Other similar purchases and improvements identified and set forth in the standards developed by the office pursuant to subsection (4) of this section that result in at least a twenty percent reduction in greenhouse gas emissions when compared to current technology, equipment, or production processes being deployed by the owner.

(f) "Greenhouse gas emissions reduction plan" or "plan" means project implementation plans or specifications for the proposed greenhouse gas emissions reduction improvements to a qualified industrial facility that are sufficiently detailed to enable the office to evaluate whether the improvements are in compliance with the standards developed under this section and whether the plan will measurably reduce greenhouse gas emissions at a qualified industrial facility. The plan must include, but is not limited to, a property address, legal description, or other specific location of the industrial facility, and must include information on the estimated costs for the proposed greenhouse gas emissions reduction improvements.

(g) (I) "Industrial facility" means any real property in the state, and the machinery or equipment on the real property, where the principal trade or business activity is the mechanical or chemical transformation of organic or inorganic substances into new products, characteristically using power-driven machines and materials handling equipment.

(II) "Industrial facility" does not include a landfill, an electric utility subject to regulation by the public utilities commission, or an upstream or mid-stream oil and gas operation.

(h) "Industrial process greenhouse gas emissions" means greenhouse gas emissions that occur as a result of the chemical or physical transformation of process input materials.

(i) "Industrial study" means an energy and emissions audit, a feasibility study, a pre-front-end or a front-end engineering design study that meets or exceeds the standards established by the office, or any other industrial studies as outlined in program standards adopted by the office.

(j) "Owner" means a person or developer of a project to be implemented at a qualified industrial facility subject to tax under this article 22 who applies for and claims the credit allowed by this section.

(3) Availability of credit and amount. (a) For income tax years commencing on or after January 1, 2024, but prior to January 1, 2033, there shall be allowed a credit with respect to the income taxes imposed pursuant to this article 22 to the owner of a qualified industrial facility in an amount equal to:

(I) The applicable percentage of the costs paid and approved by the office for completing an industrial study during the tax year in which the credit is claimed; except that the credit cannot be claimed in an amount exceeding one million dollars; or

(II) The applicable percentage of the capital costs paid by the owner, not including the cost for design, and approved by the office for certified greenhouse gas emissions reduction improvements that are placed in service during the tax year in which the credit is claimed; except that the credit must be claimed in an amount that is not less than seventy-five thousand dollars and does not exceed eight million dollars.

(b) (I) If the office approves the owner's industrial study or greenhouse gas emissions reduction plan and reserves credits under subsection (6) of this section, the office shall apply the applicable percentage of the costs paid for completing an industrial study or the capital costs paid for greenhouse gas emissions reduction improvements to calculate the amount of the credit that the owner will receive for the tax year in which the industrial study is completed or the greenhouse gas emissions reduction improvements are placed in service.

(II) The office may on a case by case basis determine that the applicable percentage may be increased to an amount not to exceed fifty percent upon request by an owner for greenhouse gas emissions reduction improvements that have significant potential to significantly advance reductions in greenhouse gas emissions but may not be in the commercial stage of development. In evaluating such a request, the office may use United States department of energy technology readiness level criteria, scientific literature detailing potential decarbonization impacts of proposed technology, or subsequent literature on technology results to date to determine whether the requested increase of the applicable percentage sufficiently satisfies the office's criteria to justify the increase.

(c) An owner that claims the credit allowed by this section cannot, for the same greenhouse gas emission reduction improvements:

(I) Claim the credit allowed by section 39-30-104; or

(II) Receive grant money under the industrial and manufacturing operations clean air grant program created in section 24-38.5-116 (3)(a).

(4) Office to develop standards. (a) The office shall develop standards for the approval of industrial facilities as qualified industrial facilities for which a tax credit under this section is allowed to an owner.

(b) The office shall develop standards for the approval of industrial studies, for the approval of an industrial facility owner's greenhouse gas emissions reduction plan, for certifying greenhouse gas emissions reduction improvements, including verification of reduction in greenhouse gas emissions, and for reviewing the cost certifications for the costs of the industrial study and the costs related to the implementation of a greenhouse gas emissions reduction improvements plan. The standards that are adopted pursuant to this subsection (4)(b), must provide that a plan propose greenhouse gas emissions reduction improvements that lead to direct reductions through project implementation.

(c) Any standards developed by the office under this subsection (4) must be posted on the office's website.

(d) The office may annually review and update as necessary standards adopted pursuant to this subsection (4).

(5) Application and industrial study or plan submission. (a) An owner that intends to claim a credit pursuant to subsection (3)(a)(I) of this section shall submit to the office an application on a form prescribed by the office and any documentation that the office requires to demonstrate the anticipated completion of an industrial study in the current or in a future tax year, including the cost of the industrial study and the amount of credit requested.

(b) An owner that intends to claim a tax credit pursuant to subsection (3)(a)(II) of this section shall submit to the office an application and plan as set forth in the standards developed by the office. The office shall prescribe a form for the application, which must include a place for owners to provide the following information:

(I) Detailed estimates of the capital costs for the proposed greenhouse gas emissions reduction improvements;

(II) Estimates of expected energy consumption avoided by the use of the greenhouse gas emissions reduction improvements;

(III) Estimated timing for the greenhouse gas emissions reduction improvements to be placed into service;

(IV) For carbon management projects, net reductions in greenhouse gas emissions;

(V) Estimated dollar savings;

(VI) Estimated dollars leveraged, including any private investment, state grant funding, and federal grants or tax credits;

(VII) The type and age of equipment being replaced, if applicable;

(VIII) The type and estimated life span of new equipment, if applicable;

(IX) The amount of credit requested; and

(X) Any other information as specified in the standards set forth by the office.

(c) (I) The office shall accept applications through June 30, 2024, and semi-annually through each December 31 and June 30 thereafter, through June 30, 2032.

(II) (A) The office shall review applications and documentation related to industrial studies to be conducted or plans for greenhouse gas emissions reduction improvements at a qualified industrial facility to determine that the application, documentation, and plan, if applicable, are complete and in compliance with the requirements of this section and the standards established by the office.

(B) If the office determines that the application, documentation, and plan, if applicable, are complete and in compliance, the office shall add the application to an evaluation pool for the application period.

(C) If the office determines that the application is incomplete or that it does not comply with the requirements of this section or the standards established by the office, the office shall remove the application from the review process and notify the owner in writing of its decision. An owner may resubmit a disapproved application, documentation, and plan, if applicable, to be evaluated in a future application period.

(6) Merit-based review and reservation of credits. (a) (I) For each application period, the office shall conduct a merit-based evaluation of the applications that have been placed in the evaluation pool pursuant to subsection (5)(c)(II)(B) of this section. The office shall complete its review, and award reservations, within ninety days after the end of the application period.

(II) Based upon the totality of the factors set forth in subsection (6)(c) of this section, the office may adjust the applicable percentage as provided in subsection (3)(b)(II) of this section and reserve for the benefit of each owner all, part, or none of the credit amount requested by the owner; except that the office shall not reserve an amount in excess of the credit allowed by subsection (3)(a) of this section, and the aggregate amount of credits reserved for all owners may not exceed the reservation limits set forth in subsection (8) of this section.

(III) The office may reserve credits for the current or any future tax year based upon the anticipated completion or in service date indicated in the application; except that credits may not be reserved for an industrial study completed or for greenhouse gas emissions reduction improvements placed in service prior to the end of the application period. The office shall not reserve tax credits for any tax year beginning on or after January 1, 2033.

(b) (I) If the office reserves credits for the benefit of an owner under subsection (6)(a) of this section, the office shall notify the owner of the reservation and the amount reserved. The reservation of tax credits does not entitle the owner to an issuance of any tax credit certificates until the owner complies with all of the requirements specified in this section, or by the office, for the issuance of a tax credit certificate.

(II) The office shall notify any owner for which it reserved no credit under subsection (6)(a) of this section of its decision in writing.

(III) If the office reserves less than the full amount of credit requested by the owner, the owner may submit a new application for the remaining balance up to the amount of credit allowed by subsection (3)(a) of this section in a future application period.

(c) (I) In conducting the merit-based review pursuant to subsection (6)(a) of this section, the office shall consider the factors set forth in this subsection (6)(c) in addition to any other factors the office may establish in its guidelines. The office may weigh the factors equally or differently.

(II) The office shall:

(A) Consider additional resources leveraged by the owner to conduct the industrial study or implement the plan; and

(B) Prioritize the location of the industrial facility that is the subject of the industrial study or the plan, in particular if the location is in a disproportionately impacted community or within a non-attainment area.

(III) In addition to the factors set forth in subsection (6)(c)(II) of this section, for an application that is requesting a reservation of credit for the credit allowed pursuant to subsection (3)(a)(II) of this section, the office shall also consider:

(A) The annual greenhouse gas emissions reduction impact, considering both the total impact and the per dollar impact for the amount of credit requested to be reserved;

(B) Any co-benefits of a project that will implement the plan with prioritization given to projects that limit the amount of pollutants emitted by emerging technologies, including projects that include electrification and use of renewable electricity;

(C) The readiness of a greenhouse gas emissions reduction improvement that will be implemented by the plan; and

(D) The innovative nature of the plan and proposed greenhouse gas emissions reduction improvements.

(7) Proof of compliance - audit of cost certification - issuance of tax credit certificate. (a) Any owner receiving a reservation of tax credits under subsection (6) of this section for credits allowed pursuant to subsection (3)(a) of this section shall complete the approved industrial study or put the approved greenhouse gas emissions reduction improvements identified in the plan in service during the tax year for which the reservation is approved. When the approved industrial study is complete or the approved greenhouse gas emissions reduction improvements are placed in service, the owner shall notify the office of the completion of the industrial study or plan and shall provide the office with a cost certification of the costs for the approved industrial study or approved greenhouse gas emissions reduction improvements. The cost certification must be audited by a licensed certified public accountant that is not affiliated with the owner. The office shall review the cost certification and verify that it satisfies the information provided in the owner's application, including, if applicable, the plan, within ninety days after receipt of the cost certification. If the office determines that the industrial study is complete or that the plan is complete and that the greenhouse gas emissions reduction improvements have been placed in service, and the office approves the cost certification, the office shall issue a tax credit certificate in the amount allowed pursuant to subsection (3) of this section.

(b) Notwithstanding subsection (7)(a) of this section, the total amount of the initial tax credit certificate issued for an industrial study or certified greenhouse gas emissions reduction improvement must not exceed the amount of the tax credit reservation approved pursuant to subsection (6)(a) of this section.

(c) If the amount of certified costs incurred by the owner would result in an owner being issued an amount that exceeds the amount of tax credit reserved for the owner under subsection (6) 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 shall submit its application for issuance of such excess tax credits on a form prescribed by the office. The office shall review the application for an additional tax credit amount in the same manner it reviews all other applications and in accordance with subsection (6)(a) of this section. Subject to the availability of tax credits for the application period during which the owner applies for the additional credit award pursuant to this subsection (7)(c), the office may approve the application and shall issue a separate certificate.

(8) Limit on aggregate amount of tax credits available to be reserved. (a) For the application period ending June 30, 2024, and for each semi-annual application period commencing on or after July 1, 2024, but before July 1, 2028, the aggregate amount of all tax credits that may be reserved under subsection (6)(a) of this section and awarded under subsection (7)(c) of this section must not exceed eight million dollars. For application periods commencing on or after July 1, 2028, but before July 1, 2032, the aggregate amount of all tax credits that may be reserved under subsection (6)(a) of this section must not exceed twelve million dollars.

(b) Notwithstanding the provisions of subsection (8)(a) of this section, the office may increase the periodic aggregate amount of tax credits available for the application period ending June 30, 2024, and for any semi-annual application period commencing on or after July 1, 2024, but before July 1, 2028. If so increased, the office shall decrease accordingly the amount of tax credits available for the application periods commencing on or after July 1, 2028, but before July 1, 2032.

(c) Notwithstanding the provisions of subsection (8)(a) of this section, if the aggregate amount of all tax credits reserved pursuant to subsection (6)(a) of this section and awarded pursuant to subsection (7)(c) of this section for an application period is less than the amount available under subsections (8)(a) and (8)(b) of this section, then the aggregate amount of all tax credits that may be reserved and awarded in the next application period is increased by the unreserved and unawarded amount.

(9) The office 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 owner to which the office has issued a tax credit certificate, as allowed in subsection (7) of this section, for the preceding tax year that includes the following information:

(a) The taxpayer's name;

(b) The amount of the credit; and

(c) The taxpayer's social security number or the taxpayer's Colorado account number and federal employer identification number.

(10) Guidelines. (a) In addition to the standards that the office is required to establish pursuant to subsection (4) of this section, the office may establish guidelines to implement this section. All guidelines established by the office must be posted on the office's website.

(b) The office shall maintain a database of any information necessary to evaluate the effectiveness of the tax credit allowed in this section in meeting the purpose set forth in subsection (1)(a) of this section and shall provide this information and any other information requested, if available, to the state auditor as part of the state auditor's evaluation of this tax expenditure required by section 39-21-305. Information provided by the office to the state auditor may include approved industrial studies or approved plans for greenhouse gas emissions reduction improvements.

(11) 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 that the owner may claim under this section is the amount stated on the tax credit certificate.

(12) (a) An owner shall submit a report to the office by the end of the first month after the end of any income tax year in which the owner received a tax credit under this section and shall annually submit a report for three years thereafter verifying the greenhouse gas emissions reduction improvements are, notwithstanding circumstances evaluated and determined by the office to be justified, in use at the location identified in the owner's application for a tax credit certificate and remain owned by the owner.

(b) If an owner was allowed a credit under this section and fails to demonstrate the greenhouse gas emissions reduction improvements are, notwithstanding circumstances evaluated and determined by the office to be justified, in use at the location identified in the owner's application for a tax credit certificate or are owned by the owner in any of the three taxable years immediately following the taxable year in which the greenhouse gas emissions reduction improvements were placed in service, the office shall notify the department in writing that the credit allowed in this section must be disallowed for that owner. The owner shall add the amount of the disallowed credit to its return as a recaptured credit for the tax year in which the credit is disallowed pursuant to this subsection (12).

(13) If a credit authorized by this section exceeds the income tax due on the income of the owner for the taxable year, the excess credit may not be carried forward and must be refunded to the owner.

(14) This section is repealed, effective December 31, 2038.
C.R.S. § 39-29-103 — CO Code / Title 39 / Article 29 / Section 39-29-103
39-29-103. Tax on severance of metallic minerals
Status: in_force

39-29-103. Tax on severance of metallic minerals. (1) In addition to any other tax, there shall be levied, collected, and paid for each taxable year a tax upon the severance from the earth in this state of all metallic minerals as to all such severance occurring on and after January 1, 1978. Such tax shall be levied against every mining operation engaged in the severance of metallic minerals and shall be based upon the gross income of such mining operation. The rate of the tax for all metallic minerals shall be as follows:

(a) For taxable years commencing prior to July 1, 1999:

Percentage tax

Amount of gross income on gross income

First $11,000,000 No tax

Amount exceeding $11,000,000 2.25%

(b) For taxable years commencing on or after July 1, 1999:

Percentage tax

Amount of gross income on gross income

First $19,000,000 No tax

Amount exceeding $19,000,000 2.25%

(2) There shall be allowed, as a credit against the tax computed in accordance with subsection (1) of this section, an amount equal to all ad valorem taxes assessed during the taxable year in the case of accrual basis taxpayers or paid during the taxable year in the case of cash basis taxpayers on producing mines valued for assessment pursuant to section 39-6-106. Such credit shall not exceed fifty percent of the tax computed in accordance with subsection (1) of this section.
C.R.S. § 39-22-618 — CO Code / Title 39 / Article 22 / Part 6 / Section 39-22-618
39-22-618. False statements deemed perjury
Status: repealed

39-22-618. False statements deemed perjury. (Repealed)
C.R.S. § 39-22-5409 — CO Code / Title 39 / Article 22 / Part 54 / Section 39-22-5409
39-22-5409. Repeal of part
Status: repealed

39-22-5409. Repeal of part. This part 54 is repealed, effective January 1, 2055.