C.R.S. § 39-22-561 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-561
39-22-561. Agricultural stewardship tax credit - tax preference performance statement - leg
Status: repealed

39-22-561. Agricultural stewardship tax credit - tax preference performance statement - legislative declaration - definitions - rules - 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 declares that the purpose of the tax credit created in this section is to induce certain designated behavior by taxpayers, specifically to encourage an individual to actively practice one or more qualified stewardship practices on a farm or ranch, including any practice that increases soil health, improves water efficiency, or creates more diverse and beneficial ecosystems while maintaining the productivity of the farm or ranch.

(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 information required to be maintained by and reported to the state auditor by the department of agriculture pursuant to subsection (4)(b) of this section.

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

(a) "Credit certificate" means a certificate issued by the department of agriculture certifying that a qualified taxpayer qualifies for an income tax credit authorized in this section and specifying the amount of the credit allowed and the income tax year for which the credit may be claimed.

(b) "Qualified stewardship practice" means any agricultural practice, as specified by rules issued by the commissioner of the department of agriculture, that may include a grazing or cropping practice that improves soil health, improves water retention and drought resilience, or creates more diverse and beneficial ecosystems while maintaining the productivity of the farm or ranch, including rotational crops, reduced tillage, no tillage, cover cropping, integrating managed livestock grazing on cropland, range improvements, interseeding, or compost application.

(c) "Qualified taxpayer" means a person subject to tax pursuant to this article 22 who actively practices a qualified stewardship practice on a farm or ranch located in the state during an income tax year, whether the qualified stewardship practice is newly practiced during the income tax year or is being continued from a prior income tax year.

(3) (a) Subject to the limitations set forth in subsection (3)(b) of this section, for income tax years commencing on or after January 1, 2026, but before January 1, 2031, a qualified taxpayer is allowed a credit against the income taxes imposed by this article 22 in an amount equal to:

(I) A minimum of five dollars and a maximum of seventy-five dollars per acre of land subject to one qualified stewardship practice, as specified by rule issued by the commissioner of the department of agriculture, limited to a maximum credit amount of one hundred fifty thousand dollars per income tax year;

(II) A minimum of ten dollars and a maximum of one hundred dollars per acre of land subject to two qualified stewardship practices, as specified by rule issued by the commissioner of the department of agriculture, limited to a maximum credit amount of two hundred thousand dollars per income tax year; and

(III) A minimum of fifteen dollars and a maximum of one hundred fifty dollars per acre of land subject to three or more qualified stewardship practices, as specified by rule issued by the commissioner of the department of agriculture, limited to a maximum credit amount of three hundred thousand dollars per income tax year.

(b) The department of agriculture may only issue tax credit certificates to a qualified taxpayer:

(I) For three income tax years; and

(II) If the qualified taxpayer has not received a tax credit, tax deduction, or grant related to the agricultural land and the qualifying stewardship practice during an income tax year for which a tax credit is claimed pursuant to this section from any other source.

(4) (a) A qualified taxpayer shall submit an application to the department of agriculture for a tax credit certificate to claim the credit allowed by this section on a form and in a manner prescribed by the department of agriculture. The application must include a means for the taxpayer to note whether the taxpayer files income taxes on a calendar year or fiscal year basis and information to allow the department of agriculture to make a determination that the stewardship practice is a qualified stewardship practice, that the qualified taxpayer is actively practicing the qualified stewardship practice, and to verify the amount for which the tax credit certificate is applied. A qualified taxpayer may receive only one tax credit certificate per income tax year.

(b) (I) The department of agriculture shall maintain a database of any information determined necessary by the department of agriculture to evaluate the effectiveness of the income tax credit allowed in this section in meeting the purpose set forth in subsection (1) of this section and shall provide such information, and any other information that may be needed, if available, to the state auditor as part of the state auditor's evaluation of this tax expenditure required by section 39-21-305.

(II) The department of agriculture shall, in a sufficiently timely manner to allow the department of revenue to process returns claiming the income tax credit allowed in this section, provide the department of revenue with an electronic report for the preceding tax year that lists each qualified taxpayer to which the department of agriculture issued a tax credit certificate and includes the following information:

(A) The qualified taxpayer's name;

(B) The amount of the income tax credit that the certificate indicates the qualified taxpayer is eligible to claim; and

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

(5) In order to claim the credit authorized by this section, a qualified taxpayer shall file the tax credit certificate with the qualified taxpayer's state income tax return. The amount of the credit that the qualified taxpayer may claim pursuant to this section is the amount stated on the tax credit certificate.

(6) The department of agriculture shall issue certificates for credit claims received in the order submitted, but shall not issue credit certificates that exceed three million dollars in a calendar year. After certificates have been issued for credits in an aggregate amount of three million dollars for all qualified taxpayers during a calendar year, any additional claims must be placed on a wait list, with priority first given to a qualified taxpayer who has been issued a tax certificate in the calendar year preceding the calendar year in which the qualified taxpayer is placed on the wait list and second to a qualified taxpayer who applied for the tax credit authorized in this section but was placed on the wait list, and a certificate must be issued for use of the credit in the next calendar year; except that no more than two million dollars in claims shall be placed on the wait list in any given calendar year. No claim for a credit is allowed for any income tax year unless a certificate has been issued by the division. If all other requirements of this section are met, the right to claim the credit is vested in a qualified taxpayer at the time a credit certificate is issued.

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

(8) The commissioner of the department of agriculture may issue rules to administer this section, including specifying requirements for implementing and demonstrating qualified stewardship practices, and may issue tax credit certificates pursuant to this section. Before promulgating any rules, the commissioner shall initiate a public stakeholder process to advise the commissioner about the requirements for implementing and demonstrating qualified stewardship practices.

(9) This section is repealed, effective December 31, 2034.
C.R.S. § 39-30-107 — CO Code / Title 39 / Article 30 / Section 39-30-107
39-30-107. Zoning regulations and labor agreements not affected
Status: in_force

39-30-107. Zoning regulations and labor agreements not affected. Nothing in this article shall affect any zoning measure or labor-management agreement in effect when an enterprise zone is established or adopted or entered into after the establishment.
C.R.S. § 39-21-104.5 — CO Code / Title 39 / Article 21 / Part 1 / Section 39-21-104.5
39-21-104.5. Frivolous submissions
Status: in_force

39-21-104.5. Frivolous submissions. (1) As used in this part 1, unless the context otherwise requires, "frivolous submission" means a request for a hearing related to the tax set forth in part 1 of article 22 of this title made pursuant to section 39-21-103 or 39-21-104 that is based on a position that was previously rejected in a published opinion by a Colorado or federal court.

(2) If the executive director determines that a request for a hearing made pursuant to section 39-21-103 or 39-21-104 is a frivolous submission, the executive director may reject the request. If the executive director does not reject the request, the provisions of section 39-21-103 or 39-21-104 shall apply.

(3) If the executive director rejects a taxpayer's request for a hearing:

(a) The executive director shall notify the taxpayer in writing within a reasonable time after receiving the taxpayer's request that the taxpayer's request has been rejected; and

(b) The executive director shall make a final determination within a reasonable time after receiving the taxpayer's request for a hearing and shall send the taxpayer a notice of final determination accompanied by a notice and demand for payment by first-class mail as set forth in section 39-21-105.5.

(4) A taxpayer may appeal the final determination of the executive director in accordance with the provisions of section 39-21-105.

(5) Unless an appeal is taken as provided in section 39-21-105, the tax, together with interest thereon and penalties, if any, shall be paid within thirty days after mailing of the notice and demand for payment by the executive director.
C.R.S. § 39-22-102 — CO Code / Title 39 / Article 22 / Part 1 / Section 39-22-102
39-22-102. Legislative declaration
Status: in_force

39-22-102. Legislative declaration. (1) The general assembly hereby finds, determines, and declares that the purposes of the "Colorado Income Tax Act of 1987" include, but are not limited to:

(a) Simplifying the preparation of state income tax returns;

(b) Aiding in the interpretation of the state income tax law through increased use of federal judicial and administrative determinations and precedents;

(c) Improving the enforcement of the state income tax laws through better use of information obtained from federal income tax audits.
C.R.S. § 39-22-566 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-566
39-22-566. Qualified care worker tax credit - tax preference performance statement - legisl
Status: repealed

39-22-566. Qualified care worker 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 declares that the general legislative purpose of the tax credit allowed by this section is to provide tax relief for certain businesses or individuals and that the specific legislative purpose of the tax credit allowed by this section is to provide tax relief to individuals working in the care workforce providing direct care.

(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 credits that are claimed.

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

(a) "Certified home care agency" has the same meaning as set forth in section 25-27.5-102 (1).

(b) "Certified nurse aide" means a person certified by the state board of nursing pursuant to part 2 of article 255 of title 12.

(c) "Child care worker" means a resident individual who is registered with the department of early childhood's Colorado shines professional development information system, or a successor system, and who provides care for at least seven hundred twenty hours during the income tax year as:

(I) A licensee and operator of an eligible program in this state;

(II) An employee of an eligible program in this state; or

(III) An informal family friend or neighbor child care worker in this state.

(d) "Consumer-directed care employer" means a person receiving care pursuant to parts 11 and 19 of article 6 of title 25.5 who employs a direct care worker.

(e) "Direct care worker" means a resident individual with the appropriate knowledge, skills, and training who provides hands-on care and services, including personal care, to participants receiving long-term care in this state. "Direct care worker" does not include a certified nurse aide.

(f) "Eligible program" means a licensed early childhood education program or a licensed family child care home. "Eligible program" includes only those licensed early childhood education programs and licensed family child care homes with at least a level one quality rating pursuant to the Colorado shines quality rating and improvement system created in section 26.5-5-101 for the entire income tax year, or that portion of the income tax year for which the licensed early childhood education program or licensed family child care home was licensed.

(g) "Employee" has the same meaning as set forth in section 39-22-604 (2)(a).

(h) "Employer" has the same meaning as set forth in section 39-22-604 (2)(b).

(i) "Home- and community-based services" means any services provided in this state pursuant to parts 3 to 13 or part 19 of article 6 of title 25.5 or section 25.5-5-305.

(j) "Informal family friend or neighbor child care worker" means an individual described in section 26.5-5-304 (1)(f) who provides care for children other than their own who are five years of age or younger.

(k) "Licensed early childhood education program" means an early childhood education program, as defined in section 26.5-2-202 (3), that held a valid license issued pursuant to part 3 of article 5 of title 26.5 for at least six months during the income tax year.

(l) "Licensed family child care home" means a family child care home, as defined in section 26.5-5-303 (7), that held a valid license issued pursuant to part 3 of article 5 of title 26.5 for at least six months during the income tax year.

(m) "Long-term care" means:

(I) Home- and community-based services;

(II) Care provided at a nursing facility; and

(III) Care provided by a certified home care agency.

(n) "Long-term care employer" means an employer who employs one or more direct care workers to provide long-term care in this state. "Long-term care employer" includes a consumer-directed care employer.

(o) "Nursing facility" has the same meaning as set forth in section 25.5-4-103 (14).

(p) "Qualified direct care worker" means a direct care worker who is an employee of one or more long-term care employers for at least seven hundred twenty hours in total during the tax year.

(3) (a) Subject to the requirements set forth in subsection (3)(b) of this section, for income tax years commencing on or after January 1, 2025, but before January 1, 2029, each child care worker and qualified direct care worker is allowed a credit against the income taxes imposed by this article 22 in the amount of one thousand two hundred dollars. In the case of a child care worker or qualified direct care worker who files a joint return with another resident individual who is also a child care worker or a qualified direct care worker, the credit allowed by this subsection (3)(a) is two thousand four hundred dollars.

(b) (I) The credit allowed by this section is not allowed to a resident individual whose adjusted gross income exceeds:

(A) In the case of a resident individual who files a single return, seventy-five thousand dollars; and

(B) In the case of two resident individuals who file a joint return, one hundred thousand dollars.

(II) The limit set forth in subsection (3)(b)(I)(B) of this section applies to a joint return regardless of whether one or both resident individuals are child care workers or qualified direct care workers.

(III) A resident individual who is both a child care worker and a qualified direct care worker is not allowed an additional credit pursuant to this section on account of such dual qualification.

(IV) In the case of a part-year resident, the credit allowed by this section is apportioned in the ratio determined in section 39-22-110 (1).

(4) (a) On or before September 30, 2025, and each September 30 thereafter, the department of health care policy and financing shall provide the department of revenue an electronic report of the name and federal employer identification number of every long-term care employer providing services in this state during the calendar year.

(b) On or before January 31, 2026, and each January 31 thereafter, the department of early childhood shall provide the department of revenue with an electronic report of child care workers eligible for the credit allowed by this section for the preceding calendar year.

(5) (a) On or before January 31, 2026, and each January 31 thereafter, every long-term care employer that employed one or more direct care workers shall make an information return to the executive director for the preceding calendar year. The return must include each direct care worker's social security number or individual taxpayer identification number, the total hours the direct care worker worked as such during the calendar year, and any other information the executive director may require. The long-term care employer shall report only those employees who are direct care workers as defined in this section.

(b) The return required by this subsection (5) must be filed electronically on or before January 31 in addition to the return required by section 39-22-604 (6). The executive director shall impose a penalty of five hundred dollars if the long-term care employer fails to file the return required by this subsection (5) on or before January 31, unless shown to have been due to reasonable cause, or willfully files a false or fraudulent return, which penalty is in addition to any criminal penalty otherwise provided for failure to file a return or for filing a false or fraudulent return. The executive director shall assess and collect the penalty imposed by this subsection (5)(b) in the same manner as an underpayment of the tax imposed by this article 22.

(c) In the case of a consumer-directed care employer, the department of health care policy and financing, or the department's fiscal agent, shall file the return required by this subsection (5).

(6) If the credit allowed by this section exceeds the income tax imposed by this article 22, the excess credit may not be carried forward and is refunded to the taxpayer.

(7) This section is repealed, effective December 31, 2034.
C.R.S. § 39-29-108 — CO Code / Title 39 / Article 29 / Section 39-29-108
39-29-108. Allocation of severance tax revenues - definitions - repeal
Status: repealed

39-29-108. Allocation of severance tax revenues - definitions - repeal. (1) Except as provided in subsection (3) of this section, the total gross receipts realized from the severance taxes imposed on minerals and mineral fuels under the provisions of this article shall be credited as follows:

(a) For oil and gas, one hundred percent to the state general fund;

(b) For oil shale, forty percent to the state general fund, forty percent to the state severance tax trust fund created by section 39-29-109, and twenty percent to the local government severance tax fund created by section 39-29-110;

(c) For molybdenum, as follows:

(I) For fiscal years ending on or before June 30, 1979, seventy percent to the state general fund, twenty percent to the state severance tax trust fund created by section 39-29-109, and ten percent to the local government severance tax fund created by section 39-29-110;

(II) For the fiscal year ending June 30, 1980, sixty percent to the state general fund, thirty percent to the state severance tax trust fund created by section 39-29-109, and ten percent to the local government severance tax fund created by section 39-29-110;

(III) For the fiscal year ending June 30, 1981, fifty percent to the state general fund, forty percent to the state severance tax trust fund created by section 39-29-109, and ten percent to the local government severance tax fund created by section 39-29-110;

(d) For coal and metallic minerals, as follows:

(I) For fiscal years ending on or before June 30, 1979, forty percent to the state general fund, fifteen percent to the state severance tax trust fund created by section 39-29-109, and forty-five percent to the local government severance tax fund created by section 39-29-110;

(II) For the fiscal year ending June 30, 1980, thirty percent to the state general fund, twenty-five percent to the state severance tax trust fund created by section 39-29-109, and forty-five percent to the local government severance tax fund created by section 39-29-110;

(III) For the fiscal year ending June 30, 1981, twenty percent to the state general fund, thirty-five percent to the state severance tax trust fund created by section 39-29-109, and forty-five percent to the local government severance tax fund created by section 39-29-110.

(2) (a) Repealed.

(b) Except as set forth in subsections (2)(d) and (2)(e) of this section, of the total gross receipts realized from the severance taxes imposed on minerals and mineral fuels under the provisions of this article after June 30, 2017, fifty percent shall be credited to the state severance tax trust fund created by section 39-29-109, and fifty percent shall be credited to the local government severance tax fund created by section 39-29-110.

(c) Repealed.

(d) The state treasurer shall credit an amount of the increased coal tax that is attributable to the reduction or discontinuation of the exemption in section 39-29-106 (2)(b) and the credits in section 39-29-106 (3) and (4) to the just transition cash fund created in section 8-83-504 (1).

(e) (I) Except as provided in subsection (2)(e)(II) of this section, for the state fiscal years 2023-24 through 2026-27, the state treasurer shall credit the discrete increased amount of severance tax for oil and gas production that is attributable to the reduction of the credit against tax pursuant to section 39-29-105 (2)(b)(II) and 39-29-105 (2)(c) to the decarbonization tax credits administration cash fund created in section 24-38.5-120 (2).

(II) Repealed.

(III) As used in this subsection (2)(e), unless the context otherwise requires:

(A) Repealed.

(B) "Discrete increased amount of severance tax for oil and gas production" means the amount of tax collected that is attributable to a twelve and one-half percent reduction in the severance tax credit for oil and gas production set forth in section 39-29-105 (2)(b)(II) for tax years beginning on or after January 1, 2024, but before January 1, 2026, and a ten and nine hundred thirty-five thousandths percent reduction set forth in section 39-29-105 (2)(c) for tax years beginning on or after January 1, 2026, but before January 1, 2027.

(C) Repealed.

(2.5) and (3) Repealed.

(4) (a) Notwithstanding any provisions of this section to the contrary, for the 1987-88, 1988-89, 1989-90, 1990-91, 1991-92, 1992-93, and 1993-94 fiscal years, those gross receipts realized from the severance taxes imposed on minerals and mineral fuels which would otherwise be credited to the state severance tax trust fund under the provisions of this section shall be credited to the state general fund.

(b) Notwithstanding any provisions of this section to the contrary, for the 1994-95 fiscal year, those gross receipts realized from the severance taxes imposed on minerals and mineral fuels which would otherwise be credited to the state severance tax trust fund under the provisions of this section shall be credited to the uranium mill tailings remedial action program fund created in section 39-29-116 (2); except that the amount credited to such fund during the 1994-95 fiscal year shall not exceed five million dollars. Any receipts in excess of five million dollars shall be credited to the state severance tax trust fund.

(c) Notwithstanding any provisions of this section to the contrary, for the 1995-96 and 1996-97 fiscal years, those gross receipts realized from the severance taxes imposed on minerals and mineral fuels which would otherwise be credited to the state severance tax trust fund under the provisions of this section shall be credited to the uranium mill tailings remedial action program fund created in section 39-29-116 (2); except that the amount credited to such fund during the 1995-96 and 1996-97 fiscal years shall not exceed two and one-half million dollars per fiscal year. Any receipts in excess of two and one-half million dollars shall be credited to the state severance tax trust fund.

(5) (a) To assist in the preparation of state budgets, the consensus revenue estimate group shall prepare a quarterly forecast of severance revenues, including price and production volume.

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

(I) "Consensus revenue estimate group" means the staff of the legislative council appointed pursuant to section 2-3-304, C.R.S., in consultation with the office of state planning and budgeting created in section 24-37-102, C.R.S.

(II) "Price insurance contract" means a written agreement between the state treasurer and a qualified counterparty relating to a commodity price for crude oil and natural gas based on levels of floor transactions or forward rate transactions executed through standard financial industry mechanisms.

(III) "Qualified counterparty" means a person whose long-term obligations are rated, at the time a price insurance contract is executed, in one of the two top rating categories of a nationally recognized rating agency.

(IV) "Severance revenues" means:

(A) The revenues generated from taxes levied pursuant to this article; and

(B) The state share of federal mineral leasing royalties received pursuant to section 34-63-102, C.R.S.

(c) Repealed.

(6) Repealed.

(7) (a) The director of the office of state planning and budgeting and the executive directors of the departments of revenue, natural resources, education, and local affairs, or their designees, shall, in consultation with the stakeholder group convened pursuant to subsection (7)(c) of this section, develop an implementation plan with recommendations to:

(I) Change the legal incidence of the state severance tax on oil and gas from interest owners to operators. At a minimum, the implementation plan must make recommendations related to:

(A) The legislative and administrative steps necessary to implement the change;

(B) Any changes to the tax rate and structure that are necessary to implement the shift in legal incidence in a manner that is revenue neutral to the greatest extent possible; and

(C) Any other recommendations to reduce disruption to the state, local governments, and stakeholders during and after the transition;

(II) Require electronic filing of returns for severance taxes;

(III) Require additional electronic data collection necessary to ease the administration and enforcement of the state severance tax on oil and gas, including consideration of opportunities for increased data sharing among state and local government agencies; and

(IV) Make recommendations for the long-term restructuring of the credit allowed in section 39-29-105 (2) including:

(A) Linking the size of the credit in a given tax year to oil and gas taxpayers' profitability or revenues for that tax year;

(B) Separating the credit for oil production and gas production;

(C) Linking the credit in a given tax year to the relative difference between oil and gas prices for that tax year compared to historic monthly henry hub natural gas spot prices as reported by the United States energy information administration and monthly Cushing, Oklahoma west Texas intermediate spot prices as reported by the United States energy information administration;

(D) Updating the department of revenue's severance tax form and reprogramming GenTax to make these changes possible; and

(E) Giving consideration to the fact that the current credit size results in the state effectively subsidizing local taxing jurisdictions which was not the original intent of the credit.

(b) The implementation plan required by subsection (7)(a) of this section must include a quantitative fiscal analysis of the changes described in subsections (7)(a)(I) and (7)(a)(IV) of this section and the calculation of the credit allowed in section 39-29-105 (2)(c) and make recommendations as to how they can be implemented while maintaining revenue neutrality.

(c) The persons identified in subsection (7)(a) of this section shall establish a stakeholder group, consisting of affected industries and parties, including local government representatives, to assist in the development of the implementation plan.

(d) The persons identified in subsection (7)(a) of this section shall submit the written implementation plan to the joint budget committee no later than January 15, 2025. Prior to submission of the implementation plan, the stakeholder group shall have an opportunity to review the draft recommendations and individual stakeholders may provide comments in response to the implementation plan to be included with the submission of the implementation plan.

(e) It is the intent of the general assembly that the recommendations within the implementation plan pursuant to subsection (7)(a) of this section be implemented by tax year 2026 with respect to changing the structure of the credit, provided that revenue to the state, as determined by legislative council staff, is neutral with respect to amendments made to 39-29-105 (2)(b) and (2)(c) as amended by House Bill 23-1272. To this end, it is the intent of the general assembly that 39-29-105 (2)(c) be further amended or superseded by the recommendation or recommendations during the 2025 legislative session.

(f) This subsection (7) is repealed, effective July 1, 2025.
C.R.S. § 39-22-128 — CO Code / Title 39 / Article 22 / Part 1 / Section 39-22-128
39-22-128. Credit for income eligible to be deferred on sale of livestock due to weather-re
Status: repealed

39-22-128. Credit for income eligible to be deferred on sale of livestock due to weather-related conditions - repeal. (Repealed)
C.R.S. § 39-30-112 — CO Code / Title 39 / Article 30 / Section 39-30-112
39-30-112. Data provided to department of revenue
Status: in_force

39-30-112. Data provided to department of revenue. (1) On or before September 30 of each calendar year, the director of the Colorado office of economic development or the director's designee shall transmit to the department of revenue the data regarding income tax credits allowed pursuant to this article that are certified by enterprise zone administrators from January 1 through June 30 of the same calendar year.

(2) On or before March 31 of each calendar year, the director of the Colorado office of economic development or the director's designee shall transmit to the department of revenue the data regarding income tax credits allowed pursuant to this article that are certified by enterprise zone administrators from July 1 through December 31 of the previous calendar year.
C.R.S. § 39-22-526 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-526
39-22-526. Credit for environmental remediation of contaminated land - legislative declarat
Status: repealed

39-22-526. Credit for environmental remediation of contaminated land - legislative declaration - definition - repeal. (1) (a) For income tax years commencing on or after January 1, 2014, but prior to January 1, 2030, there is allowed a credit against the income taxes imposed by this article 22 for any approved environmental remediation of contaminated property to any taxpayer who meets the following requirements:

(I) The property where the environmental remediation takes place must be located within the state; and

(II) The taxpayer seeking the credit must possess a certificate issued by CDPHE pursuant to section 25-16-306 (5)(b) and subsection (3) of this section.

(b) (I) The tax credit allowed in this section must not exceed forty percent of the first seven hundred fifty thousand dollars expended for the approved remediation, and must not exceed thirty percent of the next seven hundred fifty thousand dollars expended for the approved remediation. For income tax years commencing on or after January 1, 2022, with respect to approved remediation of a site located in a rural community, the amount of the tax credit shall not exceed fifty percent of the first seven hundred fifty thousand dollars expended for the approved remediation, and must not exceed forty percent of the next seven hundred fifty thousand dollars expended for the approved remediation. A tax credit is not allowed for expenditures exceeding one million five hundred thousand dollars on any individual project.

(II) As used in this subsection (1)(b) and subsection (2)(b) of this section, "rural community" means:

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

(B) The unincorporated area of any county that is not located in the Denver metropolitan area and that has a total population of less than fifty thousand people.

(III) As used in this subsection (1)(b) and subsection (2)(b) of this section, "Denver metropolitan area" means Adams, Arapahoe, Boulder, and Jefferson counties, the city and county of Broomfield, the city and county of Denver, and all of Douglas county other than the town of Castle Rock and the town of Larkspur.

(c) If the credit allowed by this section exceeds the tax otherwise due, the excess credit may be carried forward and claimed on the earliest possible subsequent tax return for a period not to exceed five years.

(d) A taxpayer may transfer all or a portion of a tax credit granted pursuant to this subsection (1) to another taxpayer for such other taxpayer, as transferee, to apply as a credit against the taxes imposed by this article 22 subject to the following limitations:

(I) The taxpayer may only transfer a portion of the tax credit that the taxpayer has neither applied against the income taxes imposed by this article nor used to obtain a refund.

(II) The taxpayer may transfer a prorated portion of the tax credit to more than one transferee.

(III) Any transferee of a tax credit issued under this section may use the amount of the tax credits transferred to offset against any other tax due under this article 22. The transferor and the transferee of the tax credits shall jointly file a copy of the written transfer agreement with the Colorado department of public health and environment, referred to in this section as "CDPHE", within thirty days after the transfer. Any filing of the written transfer agreement with CDPHE perfects the transfer, and CDPHE shall develop a system to track the transfers of tax credits and to certify the ownership of tax credits. A certification by CDPHE of the ownership and the amount of tax credits may be relied on by the department of revenue and the transferee as being accurate, and neither CDPHE nor the department of revenue shall adjust the amount of tax credits as to the transferee; except that CDPHE and the department of revenue retain any remedies they may have against the owner.

(IV) A transferor may transfer a credit pursuant to this paragraph (d) regardless of whether the transferor receives value in exchange for the transfer. The transferee may use the credit to pay, in whole or in part, the income tax obligation imposed on the transferee under this article. The transferee's use of a tax credit from a transferor under this section to pay taxes owed is not deemed a reduction in the amount of income taxes imposed by this article on the transferee.

(V) Repealed.

(VI) The transfer of a tax credit must occur prior to the due date imposed by this article, not including any extensions, for filing the transferee's income tax return.

(VII) A tax credit held by an individual either directly or as a result of distribution by a pass-through entity, but not a tax credit held by a transferee unless used by the transferee's estate for taxes owed by the estate, survives the death of the individual and may be claimed or transferred by the decedent's estate.

(VIII) The transferor of a tax credit transferred pursuant to this subsection (1)(d) is the tax matters representative in all matters with respect to the credit. The transferee is subject to the same statute of limitations with respect to the credit as the transferor of the credit.

(IX) and (X) Repealed.

(2) (a) For income tax years commencing on or after January 1, 2014, but prior to January 1, 2030, there is allowed to any qualified entity a transferable expense amount for expenses incurred by the qualified entity in performing approved environmental remediation. The transferable expense amount may only be transferred to a taxpayer to be claimed by the taxpayer as a credit pursuant to the provisions of this subsection (2). The transferrable expense amount is allowed to any qualified entity that meets the following requirements:

(I) The property where the environmental remediation takes place must be located within the state; and

(II) CDPHE must have issued a certificate for the property pursuant to section 25-16-306 (5)(b) and subsection (3) of this section.

(b) The transferable expense amount allowed in this section must not exceed forty percent of the first seven hundred fifty thousand dollars expended by the qualified entity for the approved remediation, and must not exceed thirty percent of the next seven hundred fifty thousand dollars expended by the qualified entity for the approved remediation; except that, for income tax years commencing on or after January 1, 2022, but before January 1, 2030, with respect to approved remediation of a site located in a rural community, the amount of the transferable expense shall not exceed fifty percent of the first seven hundred fifty thousand dollars expended for the approved remediation, and must not exceed forty percent of the next seven hundred fifty thousand dollars expended for the approved remediation. A transferable expense amount is not allowed for expenditures exceeding one million five hundred thousand dollars on any individual project.

(c) A qualified entity may transfer all or a portion of a transferable expense amount allowed pursuant to this subsection (2) to a taxpayer for such taxpayer, as transferee, to apply as a credit against the taxes imposed by this article 22 subject to the following limitations:

(I) The qualified entity may transfer a prorated portion of the transferable expense amount to more than one transferee.

(II) Any transferee of a transferable expense amount issued under this section may use the amount of the transferable expense amount transferred to offset against any other tax due under this article 22. The transferor and the transferee of the transferable expense amount shall jointly file a copy of the written transfer agreement with CDPHE within thirty days after the transfer. Any filing of the written transfer agreement with CDPHE perfects the transfer, and CDPHE shall develop a system to track the transfers of transferable expense amounts and to certify the ownership of transferable expense amounts. A certification by CDPHE of the ownership and the amount of transferable expense may be relied on by the department of revenue and the transferee as being accurate, and neither CDPHE nor the department of revenue shall adjust the amount of transferable expense as to the transferee; except that CDPHE and the department of revenue retain any remedies they may have against the owner.

(III) A qualified entity may transfer a transferable expense amount to be claimed as a credit by a transferee pursuant to this subsection (2) regardless of whether the qualified entity receives value in exchange for the transfer. The transferee may use the credit to pay, in whole or in part, the income tax obligation imposed on the transferee under this article. The transferee's use of a tax credit from a qualified entity under this section to pay taxes owed is not deemed a reduction in the amount of income taxes imposed by this article on the transferee.

(IV) Repealed.

(V) The transfer of a transferable expense amount to a transferee must occur prior to the due date imposed by this article, not including any extensions, for filing the transferee's income tax return.

(VI) A transferable expense amount held by a transferee's estate for taxes owed by the estate, survives the death of the transferee and may be claimed or transferred by the decedent's estate.

(VII) The qualified entity that transfers a transferable expense amount to be claimed as a credit by a transferee pursuant to this subsection (2) is the tax matters representative in all matters with respect to the credit.

(VIII) Repealed.

(d) As used in this subsection (2), "qualified entity" means a county, home rule county, city, town, home rule city, home rule city and county, school district, charter school, special district, district authorized by article 20 of title 30, article 25 of title 31, and articles 41 to 50 of title 37, state institution of higher education, quasi-governmental entity, or municipal, quasi-municipal, or public corporation organized pursuant to law, or a private nonprofit entity that is exempt from the income taxes imposed by this article 22.

(3) In addition to any other requirements of this section, a taxpayer shall submit a claim for a credit and a qualified entity shall submit a claim for a transferrable expense amount to CDPHE. The department shall issue certificates for the claims received in the order submitted. After certificates have been issued for credits and transferrable expense amounts in the aggregate amount of three million dollars for all taxpayers and qualified entities combined for the 2014 to 2021 calendar years and five million dollars for the 2022 to 2029 calendar years, any claims that exceed the amount allowed for the calendar year shall be placed on a wait list in the order submitted and a certificate shall be issued for use of the credit or transferrable expense amount in the next year for which the department has not issued credit certificates in excess of three or five million dollars respectively. The department shall not issue certificates for any calendar year, including certificates placed on a wait list for that year, in an aggregate amount that exceeds three or five million dollars respectively. Two million dollars of the five million dollar cap is reserved only for projects in a rural community. The remaining three million dollars each year may be used by rural or nonrural communities. No claim for a credit or a transferrable expense amount is allowed for any income tax year commencing on or after January 1, 2014, unless a certificate has been issued by the department pursuant to this subsection (3).

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

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

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

(II) To provide tax relief for certain businesses or individuals;

(b) The specific legislative purpose of the income tax credit allowed by this section is to encourage voluntary environmental remediation of contaminated sites by providing a financial incentive to move forward with costly remediation projects; and

(c) In order to allow the general assembly and the state auditor to measure the effectiveness of achieving the purposes specified in subsections (3.5)(a) and (3.5)(b) of this section, CDPHE is required to provide data that indicates for each calender year how many projects qualified for the credit and the number of credit recipients.

(3.7) For income tax years commencing on or after January 1, 2024, but prior to January 1, 2025, every taxpayer exempt from taxes pursuant to section 39-22-112 that claims the credit allowed in this section shall file a return pursuant to section 39-22-601 (7)(b).

(4) This section is repealed, effective December 31, 2036.
C.R.S. § 39-33-105 — CO Code / Title 39 / Article 33 / Section 39-33-105
39-33-105. Alternative fuels rebate fund - repeal
Status: repealed

39-33-105. Alternative fuels rebate fund - repeal. (Repealed)
C.R.S. § 39-22-605 — CO Code / Title 39 / Article 22 / Part 6 / Section 39-22-605
39-22-605. Failure by individual to pay estimated income tax
Status: in_force

39-22-605. Failure by individual to pay estimated income tax. (1) Every individual subject to taxation under the provisions of this article shall make and file estimated payments in the amounts and as otherwise specified in this section.

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

(a) An individual is a "farmer" or "fisherman" for any taxable year if:

(I) The individual's gross income from farming or fishing for the taxable year is at least two-thirds of the total gross income from all sources for the taxable year; or

(II) The individual's gross income from farming or fishing shown on the return of the individual for the preceding taxable year is at least two-thirds of the total gross income from all sources shown on such return.

(b) "Return" means a Colorado return required to be made or filed under section 39-22-601.

(c) "Tax" or "tax liability" means the tax imposed under this article 22 minus the credits against tax provided by this article 22 other than the credits against tax for withholding pursuant to sections 39-22-601 (4), 39-22-604, and 39-22-604.5 and the credits against tax for the sales tax refund pursuant to section 39-22-2003 and the refund of excess state revenues from all sources pursuant to section 39-22-2004.

(3) Except as otherwise provided in this section, in the case of any underpayment of estimated tax by an individual, there shall be added to the tax under this article for the taxable year an amount determined by applying the rate of interest established under section 39-21-110.5 to the amount of the underpayment for the period of the underpayment. The penalty imposed by this section shall be the only penalty imposed for underpayment of the estimated tax required by this section.

(4) For purposes of subsection (3) of this section:

(a) The amount of the underpayment shall be the excess of the required installment over the amount, if any, of the installment paid on or before the due date for the installment.

(b) The period of the underpayment shall run from the due date for the installment to whichever of the following dates is earlier:

(I) The fifteenth day of the fourth month following the close of the taxable year; or

(II) With respect to any portion of the underpayment, the date on which such portion is paid.

(c) For purposes of subparagraph (II) of paragraph (b) of this subsection (4), a payment of estimated tax shall be credited against unpaid required installments in the order in which such installments are required to be paid.

(5) For purposes of this section:

(a) There shall be four required installments for each taxable year.

(b) Except as provided in paragraph (c) of this subsection (5), in the case of the following required installments, the due date shall be as follows:

Installment Due date

1st April 15

2nd June 15

3rd September 15

4th January 15 of the following taxable year

(c) If the due date of any installment payment required pursuant to this section falls on a legal federal holiday, then the due date shall be delayed and due on the adjusted federal due date.

(6) For purposes of this section, the amount of the required installments shall be as follows:

(a) The amount of any required installment shall be twenty-five percent of the required annual payment.

(b) For purposes of paragraph (a) of this subsection (6), the term "required annual payment" means the lesser of:

(I) Seventy percent of the taxpayer's actual Colorado tax liability shown on the return for the taxable year or, if no return is filed, seventy percent of the tax for such year; or

(II) (A) One hundred percent of the taxpayer's actual Colorado tax liability shown on the return of the individual for the preceding taxable year.

(B) Sub-subparagraph (A) of this subparagraph (II) shall not apply if the preceding taxable year was not a taxable year of twelve months or if the individual did not file a Colorado return for such preceding taxable year.

(c) Limitation on use of preceding year's tax:

(I) If the taxpayer's federal adjusted gross income shown on the return of the individual for the preceding taxable year beginning in any calendar year exceeds one hundred fifty thousand dollars, sub-subparagraph (A) of subparagraph (II) of paragraph (b) of this subsection (6) shall be applied by substituting one hundred ten percent for one hundred percent.

(II) In the case of a taxpayer who may legally file a joint federal return but actually files a separate return for the taxable year for which the amount of the installment is being determined, subparagraph (I) of this paragraph (c) shall be applied by substituting seventy-five thousand dollars for one hundred fifty thousand dollars.

(III) For purposes of returns for the 2001 tax year, the limitation described in this paragraph (c) shall not apply.

(d) When the taxpayer has elected annualized installments for the payment of federal income tax, the amount of the required installment pursuant to this section and the calculation of any addition to tax shall be determined under rules promulgated by the department of revenue.

(7) (a) No addition to tax shall be imposed under subsection (3) of this section for any taxable year if the tax shown on the return for such taxable year or, if no return is filed, the tax, reduced by the credits allowable under sections 39-22-601 (4), 39-22-604, 39-22-604.5, and 39-22-2003, is less than one thousand dollars.

(b) No addition to tax shall be imposed under subsection (3) of this section for any taxable year if:

(I) The preceding taxable year was a taxable year of twelve months;

(II) The individual did not have any liability for tax for the preceding taxable year; and

(III) The individual was a resident of Colorado throughout the preceding taxable year.

(c) No addition to tax shall be imposed under subsection (3) of this section with respect to any underpayment to the extent the executive director determines that the underpayment was due to good cause shown by the taxpayer.

(d) No addition to tax shall be imposed under subsection (3) of this section with respect to any underpayment if the executive director determines that:

(I) The taxpayer either retired after having attained age sixty-two or became disabled in the taxable year for which estimated payments were required to be made or in the taxable year preceding such taxable year; and

(II) Such underpayment was due to reasonable cause and not to willful neglect.

(8) (a) For purposes of applying this section, the amount of the credits allowed under sections 39-22-601 (4), 39-22-604, 39-22-604.5, and 39-22-2003 for the taxable year shall be deemed a payment of estimated tax and an equal part of such amount shall be deemed paid on each due date for such taxable year, unless the taxpayer establishes the dates on which all amounts were actually withheld, in which case the amounts so withheld shall be deemed payments of estimated tax on the dates on which such amounts were actually withheld.

(b) The taxpayer may apply subsection (8)(a) of this section separately with respect to the following:

(I) Wage withholding; and

(II) All other amounts withheld for which credits are allowed under sections 39-22-601 (4), 39-22-604, 39-22-604.5, and 39-22-2003.

(9) If, on or before January 31 of the following taxable year, the taxpayer files a return for the taxable year and pays in full the amount computed on the return as payable, then no addition to tax shall be imposed under subsection (3) of this section with respect to any underpayment of the fourth required installment for the taxable year.

(10) For purposes of this section, if an individual is a farmer or fisherman for any taxable year:

(a) There shall be only one required installment for the taxable year;

(b) The due date for the installment shall be January 15 of the following taxable year;

(c) The amount of the installment shall be equal to the required annual payment determined under paragraph (b) of subsection (6) of this section by substituting fifty percent for seventy percent and without regard to paragraph (c) of said subsection (6); and

(d) Subsection (9) of this section shall be applied by:

(I) Substituting March 1 for January 31; and

(II) Treating the required installment described in paragraph (a) of this subsection (10) as the fourth required installment.

(11) (a) In applying this section to a taxable year beginning on any date other than January 1, there shall be substituted, for the months specified in this section, the months that correspond thereto.

(b) This section shall be applied to taxable years of less than twelve months in accordance with rules prescribed by the department of revenue.

(12) Two taxpayers who file a joint federal declaration of estimated tax shall file a joint Colorado declaration of estimated tax. In such case, if such taxpayers do not file a joint Colorado return for the taxable year, the estimated tax may be treated as the estimated tax of either taxpayer or may be divided between them.

(13) All of the provisions of this section shall also apply to nonresident or part-year resident taxpayers.

(14) All of the provisions of this article and article 21 of this title relating to the powers of the executive director for the administration, assessment, and enforcement of taxes required to be paid under this article shall apply to the provisions of this section.

(15) The department of revenue shall prescribe such rules as may be necessary to carry out the purposes of this section. Such rules shall be promulgated in accordance with article 4 of title 24, C.R.S.
C.R.S. § 39-8-103 — CO Code / Title 39 / Article 8 / Section 39-8-103
39-8-103. Notice of change in valuation
Status: in_force

39-8-103. Notice of change in valuation. The county clerk and recorder shall notify each person affected of any change in the valuation of his property ordered by the board and shall furnish the assessor with a copy of such notice.
C.R.S. § 39-11.5-117 — CO Code / Title 39 / Article 11.5 / Section 39-11.5-117
39-11.5-117. Fees and costs
Status: in_force

39-11.5-117. Fees and costs. All fees and costs incurred pursuant to this article 11.5 are chargeable as additional amounts owing under the tax lien. The treasurer shall collect from the lawful holder prior to holding the public auction.
C.R.S. § 39-27-104 — CO Code / Title 39 / Article 27 / Part 1 / Section 39-27-104
39-27-104. License and deposit - exception
Status: repealed

39-27-104. License and deposit - exception. (1) (a) It is unlawful for any person to act as a distributor, supplier, terminal operator, importer, exporter, carrier, or blender of gasoline or special fuel in this state without being licensed as such. Any person who acts as a distributor, supplier, terminal operator, importer, exporter, carrier, or blender of gasoline or special fuel within this state without being licensed as such is guilty of a misdemeanor. Each day of operation without a license is considered a separate offense. Such person is also subject to the civil penalties imposed pursuant to subsection (1)(g) of this section.

(b) Each applicant for a license required by this section must file with the executive director of the department of revenue an application in such form and manner as the executive director prescribes, stating the name and address of the applicant and any other information as may be required by this section or by the executive director. The application must include a statement that such application is signed under oath and under the penalty of perjury in the second degree, as defined in section 18-8-503. An applicant for a license to export gasoline or special fuel from this state shall provide verification as required by the executive director that the applicant has an appropriate license valid in any state into which the gasoline will be exported. Each application must be accompanied by a ten-dollar filing fee.

(c) The executive director of the department of revenue shall issue a license to an applicant if the application is in proper form, has been accepted for filing, and meets the other conditions and requirements of this section. The license is valid until surrendered, suspended, or revoked.

(d) A person who engages in the business of blending or compounding any products to make gasoline or special fuel thereof shall obtain a blender license and set forth in his or her application the kind and general characteristics of the products to be blended, the place where such blending is done, the purpose of such blending, and the intended disposition of such blended products and any other information as the executive director of the department of revenue deems necessary or advisable for the enforcement of this part 1.

(d.5) No person shall blend exempt dyed diesel fuel with biodiesel fuel after withdrawal at a terminal rack unless such person is a licensed blender in accordance with subsection (1)(d) of this section who has a valid federal blending permit. Any person who violates this subsection (1)(d.5) or the reporting or other requirements of this section relating to such blending or who misrepresents the amount of biodiesel fuel that is blended with dyed diesel fuel is subject to the following civil penalties:

(I) A five-thousand-dollar fine for the first violation;

(II) A ten-thousand-dollar fine for the second or subsequent violation; and

(III) In accordance with rules promulgated pursuant to the "State Administrative Procedure Act", article 4 of title 24, C.R.S., revocation of any license issued in accordance with the provisions of this section for the third violation.

(e) When any person ceases to be a distributor, supplier, terminal operator, importer, exporter, carrier, or blender of gasoline or special fuel by reason of discontinuance, sale, or transfer of such person's business at any location, such person shall notify the executive director of the department of revenue in writing at the time the discontinuance, sale, or transfer takes effect. The notice must state the date of discontinuance and, in the event of sale or transfer, the name and address of the purchaser or transferee. All taxes, penalties, and interest not yet due and payable under this part 1, notwithstanding any other provisions of this part 1, are due and payable concurrently with the discontinuance, sale, or transfer; and the person shall make a report and pay all taxes, penalties, and interest and shall surrender to the executive director of the department of revenue the license together with all duplicates issued to him or her.

(f) The license issued under this section is required to be conspicuously displayed in the established place of business of the licensee. A licensee shall obtain a duplicate license for each established branch office or location, which shall be displayed in a like manner as the original license. The executive director of the department of revenue shall issue a duplicate license upon payment of a five-dollar fee.

(g) (I) No person shall act as a distributor, supplier, terminal operator, importer, exporter, or carrier without a valid license pursuant to this section. Any person who violates the reporting requirements of this part 1, exports gasoline or special fuel out of this state without a valid license, or imports gasoline or special fuel into this state without a license or permit, or otherwise operates in this state without the license required by this section is subject to the following civil penalties:

(A) A five-thousand-dollar fine for the first violation;

(B) A ten-thousand-dollar fine for the second violation;

(C) A fifteen-thousand-dollar fine for a third or subsequent violation.

(II) The executive director of the department of revenue is authorized to waive, for good cause shown, any civil penalty assessed pursuant to this paragraph (g).

(III) All moneys collected pursuant to this paragraph (g) shall be credited to the highway users tax fund, created in section 43-4-201, C.R.S., and allocated and expended as specified in section 43-4-205 (5.5)(a), C.R.S.

(IV) Nothing in this paragraph (g) shall be construed to prohibit the criminal prosecution of any person who commits a criminal offense in connection with or as a result of violating any provision of this part 1.

(V) Immediately upon discovery of a violation of this paragraph (g), the department of revenue and agents thereof:

(A) May require payment of the excise tax imposed pursuant to section 39-27-102 (1)(a) and all applicable civil penalties imposed pursuant to this paragraph (g) from any person who violates the provisions of this paragraph (g); and

(B) May detain the shipment of gasoline or special fuel until payment is collected.

(h) The executive director of the department of revenue may refuse to issue a license if the executive director finds, after affording the applicant due notice and an opportunity to be heard, that the application:

(I) Was filed by any person whose license has previously been suspended or revoked for cause by the executive director of the department of revenue;

(II) Contains any misrepresentation, misstatement, or omission of material information required by the application;

(III) Was filed by some person other than the real person in interest whose license has been previously suspended or revoked for cause by the executive director of the department of revenue;

(IV) Was filed by any person who is or has been delinquent in the payment of any fee, tax, penalty, or other amount due to the department of revenue for more than two taxable periods; or

(V) Was submitted by a person who the executive director of the department of revenue determines is unable or unwilling to perform the duties and responsibilities of a licensed gasoline or special fuel distributor, supplier, terminal operator, importer, exporter, carrier, or blender, as applicable, based upon evidence furnished to him or her.

(2) and (2.1) Repealed.

(2.2) (a) The executive director of the department of revenue, in accordance with rules promulgated pursuant to the "State Administrative Procedure Act", article 4 of title 24, C.R.S., may revoke or suspend the license of any licensee who:

(I) Fails to timely file any report required under this part 1 or files a false report;

(II) Fails to pay the tax imposed pursuant to this part 1 together with any applicable penalty and interest;

(III) Fails to pay any civil penalty assessed pursuant to this part 1;

(IV) Is convicted of any criminal offense related to a violation of the provisions of this part 1;

(V) Abuses the privileges for which the license was issued;

(VI) Fails to produce records requested or otherwise fails to cooperate with the department in the administration of the provisions of this part 1.

(b) The executive director of the department of revenue may reinstate a license, terminate a suspension, or grant a new license to a person whose license has been revoked if no fact or condition exists that would constitute grounds for the executive director to refuse to reinstate, grant, or terminate a suspension of a license.

(2.5) and (3) Repealed.

(4) Notwithstanding the amount specified for any fee in subsection (1) of this section, the executive director of the department of revenue, by rule or as otherwise provided by law, may reduce the amount of one or more of the fees 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 one or more of the fees 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 one or more of the fees as provided in section 24-75-402 (4), C.R.S.

(5) (a) A person who sells liquefied petroleum gas at the retail level of trade that is not used as special fuel does not act as a distributor and does not need to be licensed as one under this section if the person:

(I) Submits an affidavit, signed under penalty of perjury, stating that the person will not place liquefied petroleum gas in a fuel tank as part of any sale and that, if the person does place the fuel in a fuel tank, the person is subject to the penalties set forth in this section; and

(II) Conspicuously posts at the distribution point a sign indicating that the liquefied petroleum gas is not for sale for use in motor vehicles.

(b) The department of revenue shall establish the form of the affidavit required under subparagraph (I) of this subsection (5).
C.R.S. § 39-28.5-104.5 — CO Code / Title 39 / Article 28.5 / Section 39-28.5-104.5
39-28.5-104.5. Licensing of distributing subcontractors - rules - fines
Status: in_force

39-28.5-104.5. Licensing of distributing subcontractors - rules - fines. (1) It is unlawful for any person to engage in the business of a distributing subcontractor of tobacco products at any place of business without first obtaining a license granted and issued by the department, which license shall be in effect until June 30 following the date of issue, unless sooner revoked. Such license shall be granted only to a person who owns or operates the place from which the person engages in the business of a distributing subcontractor of tobacco products, and, if such business is operated in two or more separate places by any such person, a separate license for each place of business shall be required. Such license shall be renewed only upon timely application and payment of the required fee prior to expiration. Such licenses may be transferred in the discretion of and pursuant to the rules adopted by the department. The fee for a license shall be ten dollars per year, and such fee shall be credited to the wholesale and distributing subcontractor license fund created in section 39-28-102.5. Such fee shall be reduced at the rate of two dollars and fifty cents for each expired quarter of the license year. The department shall, on reasonable notice and after a hearing, suspend or revoke the license of any person violating any provision of this article, and no license shall be issued to such person within a period of two years thereafter. The department may share information on the names and addresses of persons who purchased tobacco products for resale with the department of public health and environment and county and district public health agencies. The department shall refuse to issue a new or renewal distributor license and shall revoke a distributor's license, if the distributor owes the state any delinquent taxes administered by the department or interest thereon pursuant to this title that have been determined by law to be due and unpaid, unless the distributor has entered into an agreement approved by the department to pay the amount due. The department shall only issue a new or renewal distributing subcontractor license to a distributing subcontractor that has a current license issued pursuant to section 39-26-103.

(2) (Deleted by amendment, L. 2008, p. 185, § 4, effective August 5, 2008.)
C.R.S. § 39-5-133 — CO Code / Title 39 / Article 5 / Part 1 / Section 39-5-133
39-5-133. 2011 modification of statutory definition of "agricultural land" - TABOR electio
Status: in_force

39-5-133. 2011 modification of statutory definition of "agricultural land" - TABOR election - adjustment of district mill levy. (1) (a) The requirements of paragraph (b) of this subsection (1) shall only apply:

(I) To a district, as defined in section 20 (2)(b) of article X of the state constitution, that has not obtained voter approval to retain and spend revenues in excess of the fiscal year spending and property tax revenue limits imposed on the district by section 20 (7)(b) and (7)(c) of article X of the state constitution sufficient to allow the retention of all additional property tax revenues; and

(II) Where the district has additionally determined, on the basis of the best available information, that implementation of the modification of the definition of "agricultural land" required by House Bill 11-1146, enacted in 2011, will cause a net property tax revenue gain to the district sufficient to cause the district to exceed such limits.

(b) In the case of a district that meets the requirements specified in paragraph (a) of this subsection (1), the district may place before the voters of the district at any election at which such ballot issue may be placed on the ballot the question of whether the district may retain and spend revenues in excess of the limits imposed on the district by section 20 (7)(b) and (7)(c) of article X of the state constitution sufficient to allow the retention of the net property tax revenue gain to the district resulting from the implementation of the modification of the definition of "agricultural land" required by House Bill 11-1146, enacted in 2011.

(c) If a majority of the voters of the district fail to approve the ballot issue specified in paragraph (b) of this subsection (1), or if no ballot issue has been submitted to the voters, the district shall adjust the number of mills levied by the district to eliminate any net property tax revenue gain to the district resulting from the modification of the definition of "agricultural land" required by House Bill 11-1146, enacted in 2011.

(2) Notwithstanding any other provision of law, the provisions of subsection (1) of this section shall not apply to any district, regardless of whether or not it satisfies the requirements of paragraph (a) of subsection (1) of this section, that has determined, on the basis of the best available information, that implementation of the modification of the definition of "agricultural land" required by House Bill 11-1146, enacted in 2011, will not cause a net property tax revenue gain to the district.
C.R.S. § 39-3-211 — CO Code / Title 39 / Article 3 / Part 2 / Section 39-3-211
39-3-211. Reporting of assessed value reductions - reimbursement of local governmental ent
Status: repealed

39-3-211. Reporting of assessed value reductions - reimbursement of local governmental entities - local governmental entity backfill cash fund - creation - legislative declaration - definitions - repeal. (1) The general assembly finds and declares that:

(a) Most school districts rely on a combination of state and local sources of revenue to pay for total program funding;

(b) State revenue makes up the difference between the full amount of a school district's total program funding and the amount of a school district's total program funding that the school district pays for with its property tax revenue;

(c) The amount of state revenue necessary to make up the difference between the full amount of a school district's total program funding and the amount of a school district's total program funding that the school district pays for with its property tax revenue is annually determined by the general assembly in the annual public school finance act;

(d) Therefore, it is the general assembly's expectation and intent that, although school district property tax revenue is reduced by Senate Bill 24-233, the general assembly will increase the amount of state revenue that it annually distributes to school districts in order to maintain or increase school district total program funding;

(e) The general assembly will reimburse local governmental entities that rely on property tax revenue other than school districts, at least in part, through the reimbursement described in this section; and

(f) It is the intent of the general assembly to review both the impact of the property tax revenue reductions in Senate Bill 24-233 and the reimbursement described in this section on local governmental entities to ensure that local governmental entities can maintain the current level of critical services they provide.

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

(a) "County" includes a city and county.

(b) "Fund" means the local governmental entity backfill cash fund created in subsection (7)(a) of this section.

(c) "Local governmental entity" means a governmental entity authorized by law to impose ad valorem taxes on taxable property located within its territorial limits; except that the term excludes school districts.

(3) For the property tax year commencing on January 1, 2024, each assessor shall:

(a) Calculate the decrease, if any, in the total assessed value of real property for each local governmental entity within the assessor's county between the property tax year commencing on January 1, 2022, and the property tax year commencing on January 1, 2024; and

(b) Determine each local governmental entity's mill levy for the property tax year commencing on January 1, 2022, excluding any mills levied to provide for the payment of bonds and interest thereon or for the payment of any other contractual obligation that has been approved by a majority of the local governmental entity's voters voting thereon.

(3.5) For the property tax year commencing on January 1, 2025, each assessor shall:

(a) Calculate the decrease, if any, in the total assessed value of real property for each local governmental entity within the assessor's county between the property tax year commencing on January 1, 2024, and the property tax year commencing on January 1, 2025, as a result of House Bill 24B-1001; and

(b) Determine each local governmental entity's mill levy for the property tax year commencing on January 1, 2024, excluding any mills levied to provide for the payment of bonds and interest thereon or for the payment of any other contractual obligation that has been approved by a majority of the local governmental entity's voters voting thereon.

(4) No later than March 1, 2025, an assessor shall report the amounts calculated pursuant to subsection (3)(a) of this section, as applicable, the basis for the amounts, and the mill levies determined pursuant to subsection (3)(b) of this section to the administrator. No later than March 1, 2026, an assessor shall report the amounts calculated pursuant to subsection (3.5)(a) of this section, as applicable, the basis for the amounts, and the mill levies determined pursuant to subsection (3.5)(b) of this section to the administrator. The administrator may require an assessor to provide additional information as necessary to evaluate the accuracy of the amounts reported. The administrator shall confirm that the reported amounts are correct or rectify the amounts if necessary. The administrator shall then forward the correct amounts for a county to the state treasurer to enable the state treasurer to issue a reimbursement warrant to a treasurer in accordance with subsection (5) of this section.

(5) (a) No later than April 15, 2025, the state treasurer shall issue a warrant, to be paid upon demand from the fund, to each treasurer that is equal to the total reimbursement amounts set forth in subsection (6) of this section for all local governmental entities within the treasurer's county.

(a.5) No later than April 15, 2026, the state treasurer shall issue a warrant, to be paid upon demand from the fund, to each treasurer that is equal to the total reimbursement amounts set forth in subsection (6.5) of this section for all local governmental entities within the treasurer's county.

(b) Each treasurer shall distribute the total amount received from the state treasurer to the local governmental entities, excluding school districts, within the treasurer's county as if the amount had been regularly paid as property tax so that the local governmental entities receive the amounts determined pursuant to subsections (6) and (6.5) of this section. If the total amount received from the state treasurer is reduced pursuant to subsections (6)(b) and (6.5)(b) of this section, each treasurer shall proportionally reduce the amount distributed to each local governmental entity. When distributing the total amount received from the state treasurer, each treasurer shall provide each local governmental entity with a statement of the amount distributed to the local governmental entity that represents the reimbursement received under subsections (6) and (6.5)(b) of this section.

(6) (a) For each local governmental entity that had a decrease in total assessed value of real property from the property tax year commencing on January 1, 2022, to the property tax year commencing on January 1, 2024, the amount of reimbursement is an amount equal to that decrease in total assessed value multiplied by the local governmental entity's mill levy for the property tax year commencing on January 1, 2022, excluding any mills levied to provide for the payment of bonds and interest thereon or for the payment of any other contractual obligation that has been approved by a majority of the local governmental entity's voters voting thereon.

(b) Notwithstanding subsection (6)(a) of this section, if there is insufficient money in the fund for the state treasurer to issue warrants pursuant to subsection (5)(a) of this section in the amounts determined pursuant to subsection (6)(a) of this section, the amounts of the warrants issued by the state treasurer must be proportionally reduced.

(c) The reimbursement amounts set forth in this section are based on the amounts that the administrator reports to the treasurer in accordance with subsection (4) of this section.

(6.5) (a) For each local governmental entity that had a decrease in total assessed value of real property from the property tax year commencing on January 1, 2024, to the property tax year commencing on January 1, 2025, as a result of House Bill 24B-1001, the amount of reimbursement is an amount equal to that decrease in total assessed value multiplied by the local governmental entity's mill levy for the property tax year commencing on January 1, 2024, excluding any mills levied to provide for the payment of bonds and interest thereon or for the payment of any other contractual obligation that has been approved by a majority of the local governmental entity's voters voting thereon.

(b) Notwithstanding subsection (6.5)(a) of this section, if there is insufficient money in the fund for the state treasurer to issue warrants pursuant to subsection (5)(a.5) of this section in the amounts determined pursuant to subsection (6.5)(a) of this section, the amounts of the warrants issued by the state treasurer must be proportionally reduced.

(c) The reimbursement amounts set forth in this section are based on the amounts that the administrator reports to the treasurer in accordance with subsection (4) of this section.

(7) (a) The local governmental entity backfill cash fund is hereby created in the state treasury. The fund consists of money transferred to the fund in accordance with subsection (7)(b) of this section. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the local governmental entity backfill cash fund to the fund.

(b) On April 1, 2025, the state treasurer shall transfer from the sustainable rebuilding program fund created in section 24-38.5-115 (7) to the local governmental entity backfill cash fund ten million three hundred eleven thousand two hundred thirty-three dollars.

(c) The money in the fund is available for the state treasurer to pay the warrants required to be issued in accordance with subsection (5) of this section.

(d) After issuing every warrant required pursuant to subsection (5)(a.5) of this section, the state treasurer shall credit any unexpended and unencumbered money remaining in the fund at that time to the sustainable rebuilding program fund created in section 24-38.5-115 (7).

(8) This section is repealed, effective July 1, 2027.
C.R.S. § 39-22-2001 — CO Code / Title 39 / Article 22 / Part 20 / Section 39-22-2001
39-22-2001. Legislative declaration - revenues exceeding TABOR limit - sales tax refund
Status: in_force

39-22-2001. Legislative declaration - revenues exceeding TABOR limit - sales tax refund. (1) The general assembly hereby finds and declares that:

(a) Section 20 of article X of the state constitution, which was approved by the registered electors of this state in 1992, limits the annual growth of state fiscal year spending;

(b) It is estimated that for fiscal years commencing on or after July 1, 1998, state revenues from sources not excluded from state fiscal year spending will exceed the limitation on state fiscal year spending;

(c) When revenues exceed the state fiscal year spending limitation for any given fiscal year, section 20 (7)(d) of article X of the state constitution requires that the excess revenues be refunded in the next fiscal year unless voters approve a revenue change allowing the state to keep the revenues;

(d) In addition, section 20 (1) of article X of the state constitution states that refunds need not be proportional when prior payments are impractical to identify or return and authorizes the use of any reasonable method for refunding excess revenues;

(e) If voters statewide either do not authorize the state to retain and spend all of the excess revenues for that fiscal year or authorize the state to retain and spend only a portion of the excess revenues for that fiscal year, the state is required to refund the revenues in excess of the state fiscal year spending limitation for that fiscal year that voters have not authorized the state to retain and spend;

(f) It is within the legislative prerogative of the general assembly to enact legislation to implement the refund of state excess revenues for fiscal years commencing on or after July 1, 1998, in compliance with section 20 of article X of the state constitution;

(g) It is a reasonable and necessary exercise of the legislative prerogative to determine that, due to the impossibility of identifying or returning prior payments, it is not feasible to make proportional refunds of state excess revenues;

(h) It is also a reasonable and necessary exercise of the legislative prerogative to determine what constitutes a reasonable method of refunding state excess revenues after consideration of the best information available at the time regarding: The amount and source of excess revenues to be refunded; the qualifications for and number of eligible recipients; and the related administrative expenses;

(i) It is the considered judgment of the general assembly that:

(I) The state excess revenues that are subject to the state fiscal year spending limitation under section 20 of article X of the state constitution for fiscal years commencing on or after July 1, 1998, will be derived from a wide variety of state taxes and state fees ranging from state sales tax to severance and transportation taxes to health service fees to court fines to permit and license fees to higher education fees and should, therefore, be returned to as large a group of Colorado residents as is identifiable and economically feasible;

(II) It is not feasible to make proportional refunds of state excess revenues for fiscal years commencing on or after July 1, 1998, due to the impossibility of identifying or returning prior payments;

(III) It is reasonable and fair to refund state excess revenues, if any, for fiscal years commencing on or after July 1, 1998, to a large group of individuals as a refund of state sales tax revenues since more Coloradans pay state sales tax than any other state tax;

(IV) Notwithstanding the provisions of subparagraphs (I) to (III) of this paragraph (i), it is reasonable and fair to simplify the process used to refund state excess revenues for any fiscal year for which the amount of such state excess revenues falls below a certain threshold by allowing an identical refund of state sales tax revenues to each qualified individual; and

(V) Refunding state excess revenues for fiscal years commencing on or after July 1, 1998, through the state income tax system in the manner set forth in sections 39-22-2002 and 39-22-2003 is a reasonable method for refunding such excess revenues.
C.R.S. § 39-6-114 — CO Code / Title 39 / Article 6 / Section 39-6-114
39-6-114. Mines and tunnels in more than one subdivision of a county
Status: in_force

39-6-114. Mines and tunnels in more than one subdivision of a county. Whenever any mine or tunnel is situated partly in one lesser political subdivision of a county and partly in another such subdivision of the same county, the assessor of the county shall apportion the value thereof between such lesser political subdivisions in the manner provided for in sections 39-6-112 and 39-6-113.
C.R.S. § 39-1-104 — CO Code / Title 39 / Article 1 / Section 39-1-104
39-1-104. Valuation for assessment - definitions
Status: repealed

39-1-104. Valuation for assessment - definitions. (1) (a) For property tax years commencing before January 1, 2025, the valuation for assessment of all taxable property in the state is twenty-nine percent of the actual value thereof as determined by the assessor and the administrator in the manner prescribed by law, and that percentage shall be uniformly applied, without exception, to the actual value, so determined, of the real and personal property located within the territorial limits of the authority levying a property tax, and all property taxes shall be levied against the aggregate valuation for assessment resulting from the application of that percentage.

(b) Notwithstanding subsection (1)(a) of this section, for the property tax years commencing on January 1, 2023, and January 1, 2024, the valuation for assessment of nonresidential property that is classified as lodging property is temporarily reduced to twenty-seven and nine-tenths percent of an amount equal to the actual value minus the lesser of thirty thousand dollars or the amount that reduces the valuation for assessment to one thousand dollars.

(c) This subsection (1) only applies to nonresidential property that is classified as lodging property.

(1.5) Repealed.

(1.6) (a) Hotels, motels, bed and breakfasts, and personal property located at a hotel, motel, or bed and breakfast are classified as lodging property, which is a subclass of nonresidential property for purposes of the valuation for assessment. Classification as a lodging property does not affect a partial allocation as residential real property if a lodging property is a mixed-use property.

(b) Real and personal property valued under section 39-4-102 (1)(e) or (1.5) or section 39-5-104.7 is classified as renewable energy production property, which is a subclass of nonresidential property for purposes of the valuation for assessment.

(c) Real and personal agricultural property is a subclass of nonresidential property for purposes of the valuation for assessment.

(1.8) (a) For property tax years commencing before January 1, 2025, the valuation for assessment of real and personal property that is classified as agricultural property or renewable energy production property is twenty-nine percent of the actual value thereof; except that, for property tax years commencing on January 1, 2022, January 1, 2023, and January 1, 2024, the valuation for assessment of this property is temporarily reduced to twenty-six and four-tenths percent of the actual value thereof.

(b) For property tax years commencing before January 1, 2025, the valuation for assessment of all nonresidential property that is not specified in subsection (1) or (1.8)(a) of this section is twenty-nine percent of the actual value thereof; except that, for the property tax years commencing on January 1, 2023, and January 1, 2024, the valuation for assessment of this property is temporarily reduced to:

(I) For all of the property listed by the assessor under any improved commercial subclass codes, twenty-seven and nine-tenths percent of an amount equal to the actual value minus the lesser of thirty thousand dollars or the amount that reduces the valuation for assessment to one thousand dollars; and

(II) Twenty-seven and nine-tenths percent of the actual value of all other nonresidential property that is not specified in subsections (1), (1.8)(a), and (1.8)(b)(I) of this section.

(b.5) Repealed.

(c) The actual value of real and personal property specified in subsection (1.8)(a) or (1.8)(b) of this section is determined by the assessor and the administrator in the manner prescribed by law, and a valuation for assessment percentage is uniformly applied, without exception, to the actual value, so determined, of the various classes and subclasses of real and personal property located within the territorial limits of the authority levying a property tax, and all property taxes are levied against the aggregate valuation for assessment resulting from the application of the percentage.

(d) As used in this section, unless the context otherwise requires, "nonresidential property" means all taxable real and personal property in the state other than residential real property, producing mines, or lands or leaseholds producing oil or gas. Nonresidential property includes the subclasses of agricultural property, lodging property, and renewable energy production property for purposes of the ratio of valuation for assessment.

(1.9) (a) For the property tax year commencing on January 1, 2025, the valuation for assessment for personal property and nonresidential real property is twenty-seven percent of the actual value thereof.

(b) For the property tax year commencing on January 1, 2026, the valuation for assessment for personal property and nonresidential real property is twenty-six percent of the actual value thereof; except that, for all property listed by the assessor under any improved commercial subclass codes and all real or personal property that is classified as agricultural property, the valuation for assessment is twenty-five percent of the actual value thereof.

(c) For property tax years commencing on or after January 1, 2027, the valuation for assessment for personal property and nonresidential real property is twenty-five percent of the actual value thereof.

(d) The actual value of real and personal property specified in this subsection (1.9) is determined by the assessor and the administrator in the manner prescribed by law, and a valuation for assessment percentage is uniformly applied, without exception, to the actual value, so determined, of the various classes and subclasses of real and personal property located within the territorial limits of the authority levying a property tax, and all property taxes are levied against the aggregate valuation for assessment resulting from the application of the percentage.

(2) Repealed.

(3) "Valuation for assessment", as used in this section and in articles 1 to 13 of this title, means the same as the term "assessed valuation" as that term may appear in the laws of this state.

(4) Except as provided in section 39-7-109, nonproducing severed mineral interests are to be valued at twenty-nine percent of actual value in the same manner as other real property specified in subsection (1.8)(b) of this section. Such valuation shall be determined by the assessing officer only upon preponderant evidence shown by such officer that the cost approach, market approach, and income approach result in uniform and just and equal valuation.

(5) to (10.1) Repealed.

(10.2) (a) Except as otherwise provided in subsection (12) of this section, beginning with the property tax year which commences January 1, 1989, a reassessment cycle shall be instituted with each cycle consisting of two full calendar years. At the beginning of each reassessment cycle, the level of value to be used during the reassessment cycle in the determination of actual value of real property in any county of the state as reflected in the abstract of assessment for each year in the reassessment cycle shall advance by two years over what was used in the previous reassessment cycle; except that the level of value to be used for the years 1989 and 1990 shall be the level of value for the period of one and one-half years immediately prior to July 1, 1988; except that, if comparable valuation data is not available from such one-and-one-half-year period to adequately determine the level of value for a class of property, the period of five years immediately prior to July 1, 1988, shall be utilized to determine the level of value. Said level of value shall be adjusted to the final day of the data gathering period.

(b) During the two years of each reassessment cycle, in preparation for implementation in the succeeding reassessment cycle, the respective assessors shall conduct revaluations of all taxable real property utilizing the level of value for the period which will be used to determine actual value in such succeeding reassessment cycle and the manuals and associated data published for the period which will be used to determine actual value in such succeeding reassessment cycle.

(c) Repealed.

(d) For the purposes of this article and article 9 of this title, "level of value" means the actual value of taxable real property as ascertained by the applicable factors enumerated in section 39-1-103 (5) for the one-and-one-half-year period immediately prior to July 1 immediately preceding the assessment date for which the administrator is required by this article to publish manuals and associated data. Beginning with the property tax year commencing January 1, 1999, if comparable valuation data is not available from such one-and-one-half-year period to adequately determine such actual value for a class of property, "level of value" means the actual value of taxable real property as ascertained by said applicable factors for such one-and-one-half-year period, the six-month period immediately preceding such one-and-one-half-year period, and as many preceding six-month periods within the five-year period immediately prior to July 1 immediately preceding the assessment date as are necessary to obtain adequate comparable valuation data. Said level of value shall be adjusted to the final day of the data-gathering period.

(e) Repealed.

(10.3) Repealed.

(11) (a) (I) It is the intent of the general assembly, as manifested in subsection (10.2) of this section, that, when a change occurs in reassessment cycles as prescribed in said subsection, new manuals and associated data will be published by the administrator, pursuant to section 39-2-109 (1)(e), and that said manuals and associated data and the level of value for the year that said manuals and associated data are published shall be utilized by assessors in the manner described in subsection (10.2) of this section for determining the actual value of real property in each county of the state.

(II) The general assembly hereby further finds and declares that it is the intent of paragraph (b) of this subsection (11) to comply with the provisions of section 3 of article X of the state constitution, including the provision which requires the enactment of "general laws, which shall prescribe such methods and regulations as shall secure just and equalized valuations for assessments of all real and personal property"; to reduce the confusion of the owners of taxable property within the state concerning assessment procedures and valuations of such property; to achieve valuations for assessment which represent the current value of such property to the extent which is equitably and practically possible; and to minimize the costs associated with achieving such current valuations for assessment.

(b) (I) The provisions of subsection (10.2) of this section are not intended to prevent the assessor from taking into account, in determining actual value for the years which intervene between changes in the level of value, any unusual conditions in or related to any real property which would result in an increase or decrease in actual value. If any real property has not been assessed at its correct level of value, the assessor shall revalue such property for the intervening year so that the actual value of such property will be its correct level of value; however, the assessor shall not revalue such property above or below its correct level of value except as necessary to reflect the increase or decrease in actual value attributable to an unusual condition. For the purposes of this paragraph (b) and except as otherwise provided in this paragraph (b), an unusual condition which could result in an increase or decrease in actual value is limited to the installation of an on-site improvement, the ending of the economic life of an improvement with only salvage value remaining, the addition to or remodeling of a structure, a change of use of the land, the creation of a condominium ownership of real property as recognized in the "Condominium Ownership Act", article 33 of title 38, C.R.S., any new regulations restricting or increasing the use of the land, or a combination thereof, the installation and operation of surface equipment relating to oil and gas wells on agricultural land, any detrimental acts of nature, and any damage due to accident, vandalism, fire, or explosion. When taking into account such unusual conditions which would increase or decrease the actual value of a property, the assessor must relate such changes to the level of value as if the conditions had existed at that time.

(II) The creation of a condominium ownership of real property by the conversion of an existing structure shall be taken into account as an unusual condition as provided for in subparagraph (I) of this paragraph (b) by the assessor, when at least fifty-one percent of the condominium units, as defined in section 38-33-103 (1), C.R.S., in a multiunit property subject to condominium ownership have been sold and conveyed to bona fide purchasers and deeds have been recorded therefor.

(c) Repealed.

(12) (a) For the property tax years commencing on or after January 1, 1987, producing mines shall be valued for assessment solely pursuant to article 6 of this title.

(b) For the property tax years commencing on or after January 1, 1987, oil and gas leaseholds and lands shall be valued for assessment solely pursuant to section 39-7-102.

(c) Repealed.

(12.1) Repealed.

(12.2) (a) Except as provided in subsection (12) of this section, for property tax years commencing on or after January 1, 1987, the requirement stated in subsections (10.2) and (11) of this section that the actual value of real property be determined according to a specified year's level of value and manuals and associated data published by the administrator for said specified year pursuant to section 39-2-109 (1)(e) shall apply to the assessment of all classes of real property, including but not limited to the following classes of real property:

(I) (Deleted by amendment, L. 87, p. 1390, § 2, effective April 1, 1987.)

(II) (Deleted by amendment, L. 87, p. 1392, § 2, effective April 1, 1987.)

(III) Operating property and plants of public utilities; and

(IV) Agricultural land.

(V) (Deleted by amendment, L. 87, p. 1385, § 1, effective June 20, 1987.)

(b) This subsection (12.2) shall take effect January 1, 1987.

(12.3) (a) (I) The actual value of personal property is determined by appropriate consideration of such of the three approaches specified in section 39-1-103 (5)(a) as are applicable to the appraisal of such property and is based on the property's value in use. Subject to review and approval pursuant to section 39-2-109 (1)(e), the administrator shall prepare and publish appraisal procedures and instructions for the annual appraisal of such property that include a definition of "value in use" and a factor or factors to adjust the actual value for the current year of assessment to the level of value applicable to real property.

(II) In determining actual value, depreciation attributable to age shall not exceed that for the actual age of the property on the assessment date. Physical, functional, and economic obsolescence shall be considered in determining actual value.

(b) Repealed.

(12.4) For property tax years commencing on and after January 1, 1987, the requirement stated in subsections (10.2) to (11) of this section that the actual value of real property be determined according to a specified year's level of value and manuals and associated data published by the administrator for said specified year pursuant to section 39-2-109 (1)(e) shall not apply to the assessment of producing coal mines and other lands producing nonmetallic minerals.

(13) to (15) Repealed.

(16) (a) During each property tax year, the director of research of the legislative council shall contract with a private person for a valuation for assessment study to be conducted as set forth in this subsection (16). The study shall be conducted in all counties of the state to determine whether or not the assessor of each county has, in fact, used all manuals, formulas, and other directives required by law to arrive at the valuation for assessment of each and every class of real and personal property in the county. The person conducting the study shall sample each class of property in a statistically valid manner, and the aggregate of such sampling shall equal at least one percent of all properties in each county of the state. The sampling shall show that the various areas, ages of buildings, economic conditions, and uses of properties have been sampled. Such study shall be completed, and a final report of the findings and conclusions thereof shall be submitted to the state board of equalization, by September 15 of the year in which the study is conducted.

(b) During each property tax year, beginning with the property tax year which commences January 1, 1985, in addition to the requirements set forth in paragraph (a) of this subsection (16), the study shall set forth the aggregate valuation for assessment of each county for the year in which the study is conducted.

(c) The person conducting any valuation for assessment study pursuant to this subsection (16) and his employees shall, during the term of his contract, have access to any document in the custody of the administrator or an assessor, including, but not limited to, such documents as are held pursuant to sections 39-4-103, 39-5-120, and 39-14-102 (1)(c). The penalties in section 39-1-116 apply against the divulging at any time of any confidential information obtained pursuant to this paragraph (c).

(d) Repealed.
C.R.S. § 39-22-604 — CO Code / Title 39 / Article 22 / Part 6 / Section 39-22-604
39-22-604. Withholding tax - requirement to withhold - tax lien - exemption from lien - ann
Status: repealed

39-22-604. Withholding tax - requirement to withhold - tax lien - exemption from lien - annual statement - notice - definitions - repeal. (1) All of the other provisions of this article shall apply to and be effective as to the provisions of this section to the extent to which they are not inconsistent with this section, and all of the remedies available to the department of revenue for the administration, assessment, enforcement, and collection of tax under other sections of this article and article 21 of this title shall be available to the department and shall apply to the amounts required to be deducted and withheld under the provisions of this section, and all of the penalties, both civil and criminal, shall apply to this section.

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

(a) "Employee" means and includes every individual who is a resident or domiciled in the state of Colorado performing services for an employer, either within or without or both within and without the state of Colorado, or any individual performing services within the state of Colorado, the performance of which services constitutes, establishes, and determines the relationship between the parties as that of employer and employee, and includes officers of corporations and individuals, including elected officials, performing services for the United States government or any agency or instrumentality thereof or the state of Colorado or any county, city or municipality, or political subdivision thereof.

(b) "Employer" means a person transacting business in or deriving any income from sources within the state of Colorado for whom an individual performs or performed any services, of whatever nature, who has control of the payment of wages for such services or is the officer, agent, or employee of the person having control of the payment of wages.

(b.5) "Magnetic media taxpayer" means a taxpayer who is required to file information returns described in section 6041A, 6051, or 6053 of the internal revenue code by magnetic media or in other machine-readable form under section 6011 (e) of the internal revenue code.

(c) "Wages" shall have the same meaning as is given in section 3401 (a) of the internal revenue code.

(3) (a) Every employer making payment of wages shall deduct and withhold from wages an amount measured by a percentage or percentages of the total amount required to be deducted and withheld by an employer from wages of an employee for federal income tax purposes, or measured by withholding tax tables promulgated by the executive director, or by such other methods as the executive director may prescribe if such percentage, percentages, tables, or other methods result in the withholding from the employee's wages during each pay period an amount which shall approximate as nearly as possible the income tax due to the state of Colorado by such employee.

(b) The executive director may, upon written application having been made to him, approve a method of withholding in lieu of the method provided in paragraph (a) of this subsection (3) to authorize a withholding based upon a percentage fixed by the executive director of the adjusted gross income, which percentage shall approximate as nearly as possible the amount of income tax due to the state of Colorado and as nearly as possible the amount so deducted and withheld in paragraph (a) of this subsection (3).

(c) Every employer, irrespective of whether or not said employer deducts and withholds the amounts as provided in this section, shall be liable for the amounts required to be deducted and withheld unless, in the case of any failure to deduct and withhold such amounts, it is shown that such failure was due to reasonable cause and not due to willful neglect. If the employer, in violation of the provisions of this section, fails to deduct and withhold the amounts as provided in this section and thereafter the tax against which such deducted and withheld amounts would have been credited is paid, the amounts so required by this section to be deducted and withheld shall not be collected from the employer; but in no such case, unless due to reasonable cause, shall the employer be relieved from liability for any penalties or additions to the amounts required under this section to be deducted and withheld otherwise applicable to any such failure to deduct and withhold.

(4) (a) Repealed.

(b) The rules and regulations promulgated pursuant to this section shall not prescribe filing or withholding requirements which are more frequent or more stringent than corresponding federal requirements.

(5) All amounts deducted and withheld shall be considered as tax collected under the provisions of this section and no employee shall have any right of action against his employer in respect to any moneys so deducted and withheld from his wages and paid over to the department in compliance or in intended compliance with this section.

(6) (a) Every employer shall, in accordance with such rules as shall be prescribed by the department of revenue, provide each employee with a statement of the amounts of moneys deducted and withheld from such employee's wages in accordance with the provisions of this section. Every employer shall also make an annual statement for each employee to the department of revenue, on such forms as are provided or approved by the department, a copy of which shall be provided each employee, summarizing the total compensation paid and the tax withheld for such employee during the preceding calendar year or any portion thereof, and the said annual statement shall be filed on or before the date established pursuant to section 6071 of the internal revenue code for filing similar federal statements. Failure to file the statements within the time prescribed therefor, unless shown to have been due to reasonable cause, or the willful filing or furnishing of false or fraudulent statements shall subject the employer to a penalty, at the discretion of the executive director, of not less than five dollars nor more than fifty dollars, which shall be in addition to any criminal penalty otherwise provided for failure to file a return or for filing a false or fraudulent return.

(b) The executive director may require any magnetic media taxpayer to file the annual statements described in paragraph (a) of this subsection (6) by magnetic media or in other machine-readable form.

(c) For the income tax years commencing on and after January 1, 2023, an employer shall provide, in addition to the annual statement issued pursuant to subsection (6)(a) of this section, written notice to all employees of the availability of the federal earned income tax credit allowed pursuant to section 32 of the internal revenue code, the state earned income tax credit allowed pursuant to section 39-22-123.5, the federal child tax credit allowed pursuant to section 24 of the internal revenue code, and the state child tax credit allowed pursuant to section 39-22-129. The employer must provide the written notice at least once annually and may provide the written notice to employees electronically, including via an electronic mail message or a text message. The written notice must:

(I) Be written in English and in any other language that the employer typically uses to communicate with the employee to whom the notice is sent; and

(II) Include any content that the department prescribes as necessary for an employer to meet the written notice requirement pursuant to this subsection (6)(c). If the department determines that additional content is necessary, the department shall promulgate rules specifying the additional content.

(7) (a) Every employer who deducts and withholds any amounts under the provisions of this section shall hold the same in trust for the state of Colorado for the payment thereof to the department in the manner and at the time provided for in this section, and the state of Colorado and the department shall have a lien to secure the payment of any amounts withheld and not remitted as provided in this section upon all of the assets of the employer and all property, including stock in trade, business fixtures, and equipment, owned or used by the employer in the conduct of his business, so long as any delinquency continues, which lien shall be prior to any lien of any kind whatsoever, including existing liens for taxes.

(b) The owner, conditional vendor, or mortgagee of any property, real or personal, or any stock in trade, business fixtures, or equipment owned or used by an employer subject to the lien provided by this subsection (7), may exempt such property from the lien granted in this section to the state of Colorado and the department by requiring the employer to procure a certificate from the department certifying that such employer has posted with the department security for the payment of the amounts withheld under the provisions of this section. When such certificate is procured by the employer and transmitted to the owner, conditional vendor, or mortgagee of any of the assets of the employer, such assets shall thereafter be exempt from attachment under the lien granted to the state of Colorado and the department by this subsection (7).

(c) Any employer shall provide a copy of any lease with an owner to the department of revenue within ten days of seizure of the property and assets described in paragraph (a) of this subsection (7). The department shall verify that such lease is bona fide and notify the owner that such lease has been received by the department. The department shall use its best efforts to notify the owner of the real or personal property which might be subject to the lien created in paragraph (a) of this subsection (7). The real or personal property of an owner who has made a bona fide lease to an employer shall be exempt from the lien created in paragraph (a) of this subsection (7) if such property can reasonably be identified from the lease description or if the lessee is given an option to purchase in such lease and has not exercised such option to become the owner of the property leased. This exemption shall be effective from the date of the execution of the lease. Such exemption shall also apply if the lease is recorded with the county clerk and recorder of the county where the property is located or based or a memorandum of the lease is filed with the department of revenue on such forms as may be prescribed by said department after the execution of the lease at a cost for such filing of two dollars and fifty cents per document. Motor vehicles which are properly registered in this state, showing the lessor as owner thereof, shall be exempt from the lien created in paragraph (a) of this subsection (7); except that said lien shall apply to the extent that the lessee has an earned reserve, allowance for depreciation not to exceed fair market value, or similar interest which is or may be credited to the lessee. Where the lessor and lessee are blood relatives or relatives by law or have twenty-five percent or more common ownership, a lease between such lessee and such lessor shall not be considered as bona fide for purposes of this section.

(c.5) Any coin-operated vending machine or video or other game machine shall be exempt from the lien created in paragraph (a) of this subsection (7) if:

(I) The machine is placed on the premises of an employer under the terms of a lease or other agreement under which the employer is given no right to become the owner of the machine;

(II) The machine is plainly marked in a location accessible to agents of the department of revenue with information sufficient to permit identification of the owner of said machine; and

(III) The owner of the machine has filed with the executive director a schedule listing the machine by serial number and including thereon the owner's full name and the address of his business and such other information as the executive director may require. To protect the anonymity of owners of property, the executive director may permit property covered by this paragraph (c.5) to be marked using numbers or other coded identification.

(d) Any employer who is in possession of property under the terms of a lease, which property is exempt from lien as provided in paragraph (c) of this subsection (7), may be required by the executive director to remit tax funds collected at more frequent intervals than would otherwise be required, but no more frequently than the employer's payroll period, or may be required to furnish security for the proper payment of taxes whenever the collection of taxes appears to be in jeopardy.

(8) The entire amount of income from wages upon which tax was deducted and withheld shall be included in the gross income of the income tax return required to be made by the employee, the recipient of the wages, without exclusion of such amounts deducted and withheld under this section, and any tax so deducted and withheld shall be credited against the total income tax, as computed in the employee's return, made in accordance with the provisions of this section.

(9) Repealed.

(10) In the event the excess tax deducted and withheld is one dollar or less, no refund shall be made, unless a specific claim for refund is filed by the taxpayer at the time the return is filed. The excess, subject to being refunded, shall in no event and under no condition be allowed as a credit against any tax accruing on a return filed for a year subsequent to the year during which the wages were received, and can only be credited against a tax accruing upon a return of wages from which such excess was deducted and withheld.

(11) Separate refunds may be made by the department to two taxpayers who have filed a joint return, at the written request of either, the amount payable to each taxpayer being proportioned upon the gross earnings of each as shall be established to the satisfaction of the department. If an employee entitled to a refund dies, payment of such refund shall be made in such manner as provided for by law for distribution of moneys payable by the state of Colorado to a decedent.

(12) (a) (I) Moneys remitted by employers under this section shall be deposited with the state treasurer and by him or her credited to a fund hereby established, denominated the "income tax withholding fund". Refunds as provided for by this section shall be made from this fund in the same manner as refunds are made under section 39-21-108. Except for moneys to be transferred to the state treasurer pursuant to section 39-21-108 (5), all unexpended balances on hand in said fund on June 30, 1971, and each June 30 thereafter, or at any time as shall be determined by the controller, with the approval of the state treasurer, shall be credited to the general fund of the state. The unexpended balance shall include all moneys that for any reason cannot be refunded. All warrants that cannot be delivered to the taxpayer and that are not presented for payment within six months from the date of issuance thereof shall be void, and the moneys represented thereby shall be included in the unexpended balance in said fund at the expiration of said year. Except as provided in subparagraph (II) of this paragraph (a), persons entitled to the refund of moneys represented by warrants that cannot be delivered to the taxpayer and that are not presented for payment within six months from the date of issuance thereof may file claims for refund at any time within four years from the date the income tax return that establishes the right to the refund was required to be filed. Claims for refund not filed within the prescribed four-year period shall not be allowed or paid by the department of revenue.

(II) On and after October 1, 2002, if the department of revenue has canceled a warrant pursuant to section 39-21-108 that has not been presented and has forwarded to the state treasurer information and an amount of money equal to the amount of the warrant as required by section 39-21-108 (5), the taxpayer must file the claim for the amount of the refund with the state treasurer pursuant to the "Revised Uniform Unclaimed Property Act", article 13 of title 38. The department and the state treasurer shall cooperate to ensure that any taxpayer who contacts the department to claim the amount of a refund represented by a canceled warrant is provided with the information or assistance necessary to obtain the refund from the state treasurer.

(b) All of the additional interest derived from moneys deposited in the income tax withholding fund created in paragraph (a) of this subsection (12) as a result of the enactment of House Bill 91S2-1027 at the second extraordinary session of the fifty-eighth general assembly shall be credited to the general fund.

(13) The department is empowered to make rules and regulations for the enforcement of the provisions of this section, including rules and regulations for determining the amount, up to but not exceeding the amount limited in this section, to be deducted and withheld by employers from wages of nonresident employees, only a part of whose wages are paid for services performed within the state of Colorado.

(14) Nothing in this section shall be construed to prevent any employee, with consent of his employer, from voluntarily subjecting himself to the provisions of this section, and in all such cases, same will be handled by the department of revenue in the same manner as those subjected by the provisions of this section.

(15) Repealed.

(16) (a) On or before the date of the commencement of employment with an employer, the employee shall furnish the employer with a signed withholding certificate. A comparable withholding certificate filed pursuant to the internal revenue code shall be deemed to satisfy the filing requirement under this subsection (16). Where necessary to cause the proper amount to be withheld, the executive director may adjust the employee's withholding to the amount properly allowable under the internal revenue code.

(b) (I) To enforce the provisions of this section, the executive director may file with the employer a withholding certificate on behalf of the employee. Prior to the filing of such certificate, the executive director shall first notify the employee that the certificate previously filed by the employee is being examined and that the employee may submit satisfactory evidence pursuant to the internal revenue code within ten days of receipt of said notice as to the correct number of withholding exemptions and allowances. Should the executive director, after reviewing any evidence so submitted, find the certificate filed by the employee to be defective, the employer shall accept the certificate filed by the director in lieu of any certificate previously filed by the employee, and such certificate filed by the executive director shall thereafter form the basis for withholding wages as required by this section. The executive director may also require from the employer a copy of any withholding certificate signed by the employee.

(II) Any employer who fails to provide a copy of any withholding certificate signed by the employee required by the executive director shall be subject to a civil penalty of not more than five hundred dollars. Such civil penalty may be assessed and collected by the executive director.

(c) Any employee may request a hearing to protest such certificate filed on his behalf by the executive director. Such hearing shall be conducted pursuant to section 39-21-103, and any final determination shall be appealable in the district court in accordance with section 39-21-105.

(17) Any person making any payment of winnings which are subject to withholding for federal income tax purposes shall deduct and withhold from such payment for Colorado income tax purposes a percentage of such winnings established by rule and regulation of the department of revenue. The amount withheld shall be remitted to the department of revenue in the manner required pursuant to rules and regulations authorized in subsection (4) of this section.

(18) (a) Any person who makes a payment for services to any natural person that is not otherwise subject to state income tax withholding but that requires an information return, including but not limited to any payment for which internal revenue service form 1099-B, 1099-DIV, 1099-INT, 1099-MISC, 1099-OID, or 1099-PATR, the issuance of any of which allows taxpayer identification number verification through the taxpayer identification number matching program administered by the internal revenue service, or any other version of form 1099 is required, shall deduct and withhold state income tax at the rate of set forth in section 39-22-104 or 39-22-301 if the person who performed the services:

(I) Fails to provide a validated taxpayer identification number; or

(II) Provides an internal revenue service-issued taxpayer identification number issued for nonresident aliens.

(b) Any person other than a natural person and any natural person who in the course of conducting a trade or business as a sole proprietor makes any payment for services to a natural person that is not reported on any information return shall deduct and withhold state income tax at the rate of set forth in section 39-22-104, unless the employer making payment has a validated taxpayer identification number from the person to whom payment is made.

(c) The requirement to withhold and deduct pursuant to paragraph (a) of this subsection (18) shall not apply to an individual who is exempt from federal withholding pursuant to a properly filed internal revenue service form 8233 if a copy of such form has been filed with the department of revenue.

(d) For purposes of all other provisions of this section, excluding paragraph (a) of subsection (3) of this section, a person who deducts and withholds state income tax from a person who performs services pursuant to the provisions of this subsection (18) shall be treated as an employer withholding and deducting wages from an employee, and such other provisions of this section shall apply accordingly. This paragraph (d) shall not be construed as making the person who performed the services an employee of the person who deducts and withholds state income tax for any other purpose in law.

(e) The executive director may promulgate rules to authorize any amounts deducted and withheld pursuant to this subsection (18) to be paid to the department of revenue as part of the state income tax return.

(f) For purposes of this subsection (18), "validated taxpayer identification number" means a social security number or an internal revenue service individual taxpayer identification number that has been confirmed by the person or employer making a payment to a person through the portal described in section 24-37.5-107, C.R.S., or through any other equally effective form of third-party verification approved by the department of revenue as having been assigned by the social security administration or the internal revenue service to the person to whom payment is made and, in the case of an individual taxpayer identification number, as not having been assigned as a taxpayer identification number issued for nonresident aliens.

(g) This subsection (18) shall be enforced without regard to race, religion, gender, ethnicity, or national origin.

(19) (a) Prior to January 1, 2025, no amount is required to be deducted and withheld from an employee's wages pursuant to this section for income tax due to the state if the employee's withholding certificate indicates that the compensation is eligible to be subtracted from federal taxable income pursuant to section 39-22-104 (4)(t).

(b) This subsection (19) is repealed, effective December 31, 2028.

(20) No amount is required to be deducted and withheld from an employee's wages pursuant to this section for income tax due to the state if the employee's withholding certificate indicates that the compensation is eligible to be subtracted from federal taxable income pursuant to section 39-22-104 (4)(u).

(21) (a) Any production company, as defined in section 24-48.5-114 (6), that makes a payment for services to any personal service corporation, as defined in section 24-48.5-114 (4.5)(a), must file an information return in a form prescribed by the department of revenue.

(b) No amount is required to be deducted and withheld from a payment for services to a personal service corporation or an employee-owner of a personal service corporation for income tax due to the state if the production company's information return, required by subsection (21)(a) of this section, allows taxpayer identification number verification through the taxpayer identification number matching program administered by the internal revenue service for the personal service corporation. A production company shall deduct and withhold state income tax at the rate set forth in section 39-22-104 or 39-22-301 if the personal service corporation that performed the services:

(I) Fails to provide a validated taxpayer identification number; or

(II) Provides an internal revenue service-issued taxpayer identification number issued for nonresident aliens.

(c) For purposes of all other provisions of this section, excluding subsection (3)(a) of this section, a production company that deducts or withholds state income tax from a personal services corporation that performs services pursuant to this subsection (21) shall be treated as an employer withholding and deducting wages from an employee, and such other provisions of this section shall apply accordingly. This subsection (21)(c) shall not be construed to make the personal services corporation that performed the services an employee of the production company that deducts and withholds state income tax for any other purpose in law.

(d) The executive director may promulgate rules as necessary regarding the information return required by subsection (21)(a) of this section and to authorize any amounts deducted and withheld pursuant to subsection (21)(b) of this section to be paid to the department of revenue as part of the state income tax return.

(e) For purposes of this subsection (21), "validated taxpayer identification number" has the same meaning as set forth in subsection (18)(f) of this section.
C.R.S. § 39-22-1101 — CO Code / Title 39 / Article 22 / Part 11 / Section 39-22-1101
39-22-1101. Voluntary contribution designation - procedure - repeal
Status: repealed

39-22-1101. Voluntary contribution designation - procedure - repeal. (Repealed)
C.R.S. § 39-26-705 — CO Code / Title 39 / Article 26 / Part 7 / Section 39-26-705
39-26-705. Miscellaneous use tax exemptions - printers ink and newsprint - manufactured goo
Status: in_force

39-26-705. Miscellaneous use tax exemptions - printers ink and newsprint - manufactured goods. (1) The storage, use, or consumption of printers ink and newsprint shall be exempt from taxation under the provisions of part 2 of this article.

(2) There shall be exempt from taxation under the provisions of part 2 of this article the storage, use, or consumption of manufactured goods, including, but not limited to, high technology goods, donated by the manufacturer of such goods to the United States government; the state of Colorado or any department, institution, or political subdivision thereof; or any organization exempt from federal income taxes pursuant to section 501 (c)(3) of the "Internal Revenue Code of 1986", as amended, to the extent that the aggregate value of all such goods included in a single donation exceeds one thousand dollars.
C.R.S. § 39-4-101 — CO Code / Title 39 / Article 4 / Section 39-4-101
39-4-101. Definitions
Status: repealed

39-4-101. Definitions. As used in this article 4, unless the context otherwise requires:

(1) "Aircraft" means any contrivance now known or hereafter invented, used, or designed for navigation or flight through the air and designed to carry at least one person.

(2) "Airline company" means any operator who engages in the carriage by aircraft of persons or property as a common carrier for compensation or hire, or the carriage of mail, or any aircraft operator who operates regularly between two or more points and publishes a flight schedule. "Airline company" shall not include operators whose aircraft are all certified for a gross takeoff weight of twelve thousand five hundred pounds or less and who do not engage in scheduled or mail carriage service.

(2.3) "Biomass energy facility" means a new facility first placed in production on or after January 1, 2010, that uses real and personal property, including leaseholds and easements, to generate and deliver to the interconnection meter any source of electrical or mechanical energy by combusting only biomass or biosolids derived from the treatment of wastewater and that is not primarily designed to supply electricity for consumption on site.

(2.4) "Clean energy resource" has the same meaning as set forth in section 40-2-125.5 (2)(b).

(2.5) Repealed.

(2.6) "Energy storage system" means commercially available technology that is capable of retaining electricity, storing the energy for a period of time, and delivering the electricity after storage by chemical, thermal, mechanical, or other means. "Energy storage system" does not include a solar energy facility, as defined in subsection (3.5) of this section, or a wind energy facility, as defined in subsection (4) of this section.

(2.7) "Geothermal energy facility" means a new facility first placed in production on or after January 1, 2010, that uses real and personal property, including but not limited to leaseholds and easements, to generate and deliver to the interconnection meter any source of electrical or mechanical energy by harnessing the heat energy of groundwater or the ground and that is not primarily designed to supply electricity for consumption on site.

(3) (a) "Public utility" means, for property tax years commencing on or after January 1, 1987, every sole proprietorship, firm, limited liability company, partnership, association, company, or corporation, and the trustees or receivers thereof, whether elected or appointed, that does business in this state as a railroad company, airline company, electric company, small or low impact hydroelectric energy facility, geothermal energy facility, biomass energy facility, wind energy facility, solar energy facility, energy storage system, clean energy resource, rural electric company, telephone company, telegraph company, gas company, gas pipeline carrier company, domestic water company selling at retail except nonprofit domestic water companies, pipeline company, coal slurry pipeline, or private car line company.

(b) On and after January 1, 2010, for purposes of this article 4, "public utility" does not include any affiliate or subsidiary of a sole proprietorship, firm, limited liability company, partnership, association, company, or corporation of any type of company described in subsection (3)(a) of this section that is not doing business in the state primarily as a railroad company, airline company, electric company, small or low impact hydroelectric energy facility, geothermal energy facility, biomass energy facility, wind energy facility, solar energy facility, energy storage system, clean energy resource, rural electric company, telephone company, telegraph company, gas company, gas pipeline carrier company, domestic water company selling at retail except nonprofit domestic water companies, pipeline company, coal slurry pipeline, or private car line company. Valuation and taxation of any such affiliate or subsidiary of a public utility as defined in subsection (3)(a) of this section shall be assessed pursuant to article 5 of this title 39.

(3.3) (a) "Small or low impact hydroelectric energy facility" means a new facility first placed in production on or after January 1, 2010, that uses real and personal property, including but not limited to leaseholds and easements, to generate and deliver to the interconnection meter any source of electrical or mechanical energy by harnessing the kinetic energy of water, that is not primarily designed to supply electricity for consumption on site, and that is:

(I) A new facility that is a small facility that has a nameplate rating of ten megawatts or less; or

(II) A new facility that has a nameplate rating of more than ten megawatts and that:

(A) Is an addition to water infrastructure such as a reservoir, a ditch, or a pipeline that existed before January 1, 2010;

(B) Does not result in any change in the quantity or timing of diversions or releases for purposes of peak power generation;

(C) Includes measures to prevent fish mortality in facilities on on-stream reservoirs and natural waterways; and

(D) Does not cause any violation of state water quality standards when operated; or

(III) A new facility that has a nameplate rating of more than ten megawatts and that:

(A) Is placed into production as part of new water infrastructure such as a reservoir, a ditch, or a pipeline constructed on or after January 1, 2010, and operated for primary beneficial uses of water other than solely for production of electricity;

(B) Includes measures to prevent fish mortality in facilities on reservoirs and natural waterways; and

(C) Does not cause any violation of state water quality standards when operated.

(b) For purposes of this subsection (3.3), "new facility" includes a combined facility that is a combination of a facility placed in production before January 1, 2010, that uses real and personal property to generate and deliver to the interconnection meter any source of electric or mechanical energy by harnessing the kinetic energy of water and that is not primarily designed to supply energy for consumption on site and an addition or energy efficiency improvement to the facility first placed in production on or after January 1, 2010, if the addition or efficiency improvement increases the electrical or mechanical energy-producing capacity of the combined facility by at least twenty-five percent over the capacity of the facility placed in production before January 1, 2010, alone.

(3.5) (a) "Solar energy facility" means a new facility first placed in production on or after January 1, 2009, that uses real and personal property, including one or more solar energy devices, as defined in section 38-32.5-100.3 (2), leaseholds, and easements, to generate and, except as provided in subsection (3.5)(b) of this section, deliver to the interconnection meter any source of electrical, thermal, or mechanical energy in excess of two megawatts by harnessing the radiant energy of the sun, including any connected device for which the primary purpose is to store energy, and that is not primarily designed to supply electricity for consumption on site.

(b) "Solar energy facility" includes facilities for agrivoltaics, as defined in section 35-1-114 (4)(a), and for floatovoltaics, as defined in section 37-60-115 (12)(c)(III).

(4) "Wind energy facility" means a new facility first placed in production on or after January 1, 2006, that uses property, real and personal, including one or more wind turbines, leaseholds, and easements, to generate and deliver to the interconnection meter any source of electrical or mechanical energy in excess of two megawatts by harnessing the kinetic energy of the wind, including any connected device for which the primary purpose is to store energy.
C.R.S. § 39-11-148 — CO Code / Title 39 / Article 11 / Section 39-11-148
39-11-148. Limitations on tax certificates - special improvement liens
Status: in_force

39-11-148. Limitations on tax certificates - special improvement liens. (1) No lien upon real property created by a tax certificate or a certificate of purchase issued by a treasurer on account of any delinquent property taxes or any special assessment of any kind or nature shall remain a lien thereon for a period longer than fifteen years after the original issuance thereof, except as provided in subsection (3) of this section. This section shall not apply to any tax certificate or certificate of purchase issued to and held by the county, city, city and county, or district levying such tax or special assessment; except that, in the event of an assignment of such tax certificate or certificate of purchase so issued to and held by such county, city, city and county, or district, the lien of such tax certificate or certificate of purchase shall cease fifteen years after the date of its issuance subject only to the provisions of subsection (3) of this section.

(2) No treasurer's deed shall issue on any tax sale evidenced by tax certificate or certificate of purchase where such tax certificate or certificate of purchase has ceased to be a lien pursuant to the provisions of this section and application for such treasurer's deed is not pending at the time of the expiration of the limitation period provided for in this section.

(3) In the event of an assignment of a tax certificate or certificate of purchase held by a county, city, city and county, or district levying such tax wherein such certificate is fifteen years old at the time of assignment or will become fifteen years old within one year from the date of such assignment, the assignee thereof shall be entitled to a tax deed in the manner provided by law if such assignee or other legal holder of such certificate institutes proceedings to procure a tax deed by making a demand upon the treasurer for same, as provided by law, within one year from the date of such assignment by the county, city, city and county, or district levying such tax.

(4) Whenever a lien created by a tax certificate has expired by reason of the provisions of this section, the treasurer shall immediately issue a certificate of cancellation describing the real estate included in the certificate of purchase or tax certificate and giving the date of cancellation, and he shall also make proper entries in the book of sales in his office as follows: "Canceled by provision of section 39-11-148, C.R.S.", with the date of such entry. He shall also present every such certificate of cancellation to the county clerk and recorder who shall enter the same in the record of land for which a tax lien was sold for delinquent taxes and endorse the date of entry on the certificate of cancellation and file the same, and such certificate and the record thereof shall be prima facie evidence of the cancellation of the certificate of purchase or tax certificate and of the release of the lien of such certificate on the lands therein described. Failure to record such certificate of cancellation shall not extend the lien created by the certificate of purchase or tax certificate. The treasurer and county clerk and recorder shall not be entitled to any fees for the issuing of such certificate of cancellation nor for the entries in their books made under the provisions of this subsection (4).

(5) Whenever a lien created pursuant to a tax certificate becomes unenforceable pursuant to section 31-25-1119, C.R.S., the treasurer shall immediately issue a certificate of cancellation describing the real estate included in the certificate of purchase or tax certificate indicating thereon the date of cancellation and shall make the appropriate entries in the book of sales in his office, as follows: "Canceled by provision of sections 31-25-1119 and 39-11-148, C.R.S.", with the date of such entry. He shall present every such certificate of cancellation to the county clerk and recorder who shall enter the same in the record of land for which a tax lien was sold for delinquent taxes and endorse the date of entry on the said certificate of cancellation and file the same, and such certificate and the record thereof shall be prima facie evidence of the cancellation of the certificate of purchase or tax certificate and of the release of the lien of such certificate on the lands therein described. Failure to record such certificate of cancellation shall not extend the lien created by the certificate of purchase or tax certificate. The treasurer and county clerk and recorder shall not be entitled to any fees for the issuing and recording of such certificate of cancellation nor for the entries in their books made under the provisions of this subsection (5).
C.R.S. § 39-22-522 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-522
39-22-522. Credit against tax - conservation easements - definitions - repeal
Status: repealed

39-22-522. Credit against tax - conservation easements - definitions - repeal. (1) For purposes of this section:

(a) For income tax years commencing prior to January 1, 2021, "taxpayer" means a resident individual or a domestic or foreign corporation subject to the provisions of part 3 of this article, a partnership, S corporation, or other similar pass-through entity, estate, or trust that donates a conservation easement as an entity, and a partner, member, and subchapter S shareholder of such pass-through entity.

(b) For income tax years commencing on or after January 1, 2021, "taxpayer" means any person or entity filing a state income tax return or a domestic or foreign corporation subject to the provisions of part 3 of this article 22, a partnership, S corporation, or other similar pass-through entity, estate, trust, nonprofit entity, or an entity that has authority to conduct water activities, as defined by section 37-45.1-102 (3) and created pursuant to article 41, 45, 46, 47, 48, or 50 of title 37, or article 42 of title 7, that conveys a conservation easement in gross pursuant to section 38-30.5-104. A ditch or reservoir company formed pursuant to article 42 of title 7, or otherwise, is entitled to act on its own behalf in granting a conservation easement and earning and transferring tax credits under this section, whether or not any of its shareholders or members are governmental entities.

(2) (a) For income tax years commencing on or after January 1, 2000, but prior to January 1, 2014, and, with regard to any credit over the amount of one hundred thousand dollars, for income tax years commencing on or after January 1, 2003, but before January 1, 2032, subject to the provisions of subsections (4) and (6) of this section, there shall be allowed a credit with respect to the income taxes imposed by this article to each taxpayer who donates during the taxable year all or part of the value of a perpetual conservation easement in gross created pursuant to article 30.5 of title 38 upon real property the taxpayer owns to a governmental entity or a charitable organization described in section 38-30.5-104 (2). The credit shall only be allowed for a donation that is eligible to qualify as a qualified conservation contribution pursuant to section 170 (h) of the internal revenue code, as amended, and any federal regulations promulgated in connection with such section. The amount of the credit shall not include the value of any portion of an easement on real property located in another state.

(b) For income tax years commencing on or after January 1, 2014, but before January 1, 2032, and, with regard to any credit over the amount of one hundred thousand dollars, for income tax years commencing on or after January 1, 2003, but before January 1, 2032, subject to the provisions of subsections (4) and (6) of this section, there shall be allowed a credit with respect to the income taxes imposed by this article to each taxpayer who donates during the taxable year all or part of the value of a perpetual conservation easement in gross created pursuant to article 30.5 of title 38 upon real property the taxpayer owns to a governmental entity or a charitable organization described in section 38-30.5-104 (2). The credit shall only be allowed for a donation that meets the requirements of section 170 of the federal "Internal Revenue Code of 1986", as amended, and any federal regulations promulgated in accordance with such section. The amount of the credit shall not include the value of any portion of an easement on real property located in another state.

(2.5) Notwithstanding any other provision of this section and the requirements of section 12-15-106, for income tax years commencing on or after January 1, 2011, a taxpayer conveying a conservation easement and claiming a credit pursuant to this section shall, in addition to any other requirements of this section and the requirements of section 12-15-106, submit a claim for the credit to the division of conservation in the department of regulatory agencies. The division must prioritize tax credit applications in the order received. The division must assign each application with the date and time received based on the order in which a completed application was submitted pursuant to section 12-15-106 (5). Incomplete applications do not get priority in the review process. Disapproved applications lose their priority in the review process. After certificates have been issued for credits that exceed an aggregate of twenty-two million dollars for all taxpayers for the 2011 and 2012 calendar years, thirty-four million dollars for the 2013 calendar year, forty-five million dollars for each of the 2014 to 2024 calendar years, and fifty million dollars for each of the 2025 to 2031 calendar years, any claims that exceed the amount allowed for a specified calendar year shall be issued for use in the next year for which the division has not issued credit certificates in excess of the amounts specified in this subsection (2.5). The division shall not issue credit certificates that exceed twenty-two million dollars in each of the 2011 and 2012 calendar years, thirty-four million dollars for the 2013 calendar year, forty-five million dollars for each of the 2014 to 2024 calendar years, and fifty million dollars for each of the 2025 through 2031 calendar years. No claim for a credit is allowed for any income tax year commencing on or after January 1, 2011, unless a certificate has been issued by the division. If all other requirements under section 12-15-106 and this section are met, the right to claim the credit is vested in the taxpayer at the time the credit certificate is issued. In the case of a tax credit certificate issued to a taxpayer who files an income tax return for a tax year other than a calendar year, the credit must be used in the income tax year that begins during the calendar year for which the tax credit certificate is issued.

(2.7) Notwithstanding any other provision, for income tax years commencing on or after January 1, 2014, no claim for a credit shall be allowed unless a tax credit certificate is issued by the division of real estate prior to May 30, 2018, or by the division of conservation on or after May 30, 2018, in accordance with sections 12-15-105 and 12-15-106 and, for income tax years commencing on or after January 1, 2014, but prior to January 1, 2022, the taxpayer files the tax credit certificate with the income tax return filed with the department of revenue.

(3) For conservation easements donated prior to January 1, 2014, in order for any taxpayer to qualify for the credit provided for in subsection (2) of this section, the taxpayer shall submit the following in a form approved by the executive director to the department of revenue at the same time as the taxpayer files a return for the taxable year in which the credit is claimed:

(a) A statement indicating whether a deduction was claimed on the taxpayer's federal income tax return for a conservation easement in gross;

(b) A statement that reflects the information included in the noncash charitable contributions form used to claim a deduction for a conservation easement in gross on a federal income tax return and whether the donation was made in order to get a permit or other approval from a local or other governing authority;

(c) A statement to be made available to the public by the department of revenue that includes a summary of the conservation purposes as defined in section 170 (h) of the internal revenue code that are protected by the easement; the county, township, and range where the easement is located; the number of acres subject to the easement; the amount of the tax credit claimed; and the name of the organization holding the easement;

(d) A summary of a qualified appraisal that meets the requirements set forth in subsection (3.3) of this section; however, if requested by the department of revenue, the taxpayer shall submit the appraisal itself;

(e) A copy of the appraisal and accompanying affidavit from the appraiser submitted to the division of real estate in the department of regulatory agencies in accordance with the provisions of section 12-61-719, C.R.S., as said section existed prior to its repeal on July 1, 2013;

(f) If the holder of the conservation easement is an organization to which the certification program in section 12-15-104 applies, a sworn affidavit from the holder of the conservation easement in gross that includes the following:

(I) Repealed.

(II) An acknowledgment of whether the transaction is part of a series of transactions by the same donor; and

(III) An acknowledgment that the holder has reviewed the completed Colorado gross conservation easement credit schedule to be filed by the taxpayer and that the property is accurately described in the schedule.

(3.3) The appraisal for a conservation easement in gross donated prior to January 1, 2014, and for which a credit is claimed shall be a qualified appraisal from a qualified appraiser, as those terms are defined in section 170 (f)(11) of the internal revenue code. The appraisal shall be in conformance with the uniform standards of professional appraisal practice promulgated by the appraisal standards board of the appraisal foundation and any other provision of law. The appraiser shall hold a valid license as a certified general appraiser in accordance with the provisions of part 6 of article 10 of title 12. If there is a final determination, other than by settlement of the taxpayer, that an appraisal submitted in connection with a claim for a credit pursuant to this section is a substantial or gross valuation misstatement as such misstatements are defined in section 1219 of the federal "Pension Protection Act of 2006", Pub.L. 109-280, the department shall submit a complaint regarding the misstatement to the board of real estate appraisers for disciplinary action in accordance with the provisions of part 6 of article 10 of title 12.

(3.5) (a) For conservation easements donated prior to January 1, 2014:

(I) The executive director shall have the authority, pursuant to subsection (8) of this section, to require additional information from the taxpayer or transferee regarding the appraisal value of the easement, the amount of the credit, and the validity of the credit. In resolving disputes regarding the validity or the amount of a credit allowed pursuant to subsection (2) of this section, including the value of the conservation easement for which the credit is granted, the executive director shall have the authority, for good cause shown and in consultation with the division of conservation and the conservation easement oversight commission created in section 12-15-103 (1), to review and accept or reject, in whole or in part, the appraisal value of the easement, the amount of the credit, and the validity of the credit based upon the internal revenue code and federal regulations in effect at the time of the donation. If the executive director reasonably believes that the appraisal represents a gross valuation misstatement, receives notice of such a valuation misstatement from the division of real estate, or receives notice from the division of real estate that an enforcement action has been taken by the board of real estate appraisers against the appraiser, the executive director shall have the authority to require the taxpayer to provide a second appraisal at the expense of the taxpayer. The second appraisal shall be conducted by a certified general appraiser in good standing and not affiliated with the first appraiser that meets qualifications established by the division of real estate. In the event the executive director rejects, in whole or in part, the appraisal value of the easement, the amount of the credit, or the validity of the credit, the procedures described in sections 39-21-103, 39-21-104, 39-21-104.5, and 39-21-105 shall apply.

(II) In consultation with the division of conservation and the conservation easement oversight commission created in section 12-15-103 (1), the executive director shall develop and implement a separate process for the review by the department of revenue of gross conservation easements. The review process shall be consistent with the statutory obligations of the division and the commission and shall address gross conservation easements for which the department of revenue has been informed that an audit is being performed by the internal revenue service. The executive director shall share information used in the review of gross conservation easements with the division. Notwithstanding part 2 of article 72 of title 24, in order to protect the confidential financial information of a taxpayer, the division and the commission shall deny the right to inspect any information provided by the executive director in accordance with this subsection (3.5)(a)(II).

(b) (I) For conservation easements donated on or after January 1, 2014, and subject to the restrictions of section 12-15-106 (4), the executive director shall have the authority, pursuant to subsection (8) of this section, to require additional information from the taxpayer or transferee regarding the amount of a credit transferred prior to January 1, 2021, and the validity of the credit. In resolving disputes regarding the validity or the amount of a credit allowed pursuant to subsection (2) of this section, the executive director shall have the authority, for good cause shown, to review and accept or reject, in whole or in part, the amount of the credit and the validity of the credit based upon the internal revenue code and federal regulations in effect at the time of the donation, except those requirements for which authority is granted to the division of conservation, the director of the division of conservation, or the conservation easement oversight commission pursuant to section 12-15-106.

(II) For tax credit certificates issued by the division for use on or after January 1, 2021, the transferor and transferee of the tax credit shall jointly file a copy of the written transfer agreement with the division of conservation within thirty days after June 30, 2021, or the date of the transfer, whichever is later. If the credit being transferred was issued for a year other than the year in which it is transferred, the transferor shall further submit a copy of the transferor's DR1305 form for each year from the year for which the credit was issued through the most recent year for which taxes were due. The division shall issue a certificate to the transferee in the amount of the tax credit transferred and, if any amount is retained by the transferor, issue a certificate to the transferor in the amount retained. In no event shall a transferee be allowed to claim an amount greater than the amount specified in the certificate issued to the transferee. The division shall develop a system to track the transfers of tax credits and to certify the ownership of tax credits. A certification issued for use on or after January 1, 2021, by the division of the ownership and amount of tax credits shall be relied upon by the department of revenue and the transferee as being accurate, and neither the division nor the department of revenue shall adjust the amount of tax credits certified by the division as to the transferee; except that the division and department retain any remedies it may have against the landowner. The division may promulgate rules to permit verification of the ownership and amount of the tax credits; except that any rules promulgated shall not unduly restrict or hinder the transfer of the tax credits.

(3.6) (a) For conservation easements donated on or after January 1, 2014, in order for any taxpayer to claim the credit provided for in subsection (2) of this section, the taxpayer must submit the following in a form, approved by the executive director, to the department of revenue at the same time as the taxpayer files a return for the taxable year in which the credit is claimed:

(I) A tax credit certificate issued under section 12-15-106; and

(II) The information required in subsections (3)(a) and (3)(b) of this section.

(b) Notwithstanding any other provisions of law, the executive director retains the authority to administer all issues related to the claim or use of a tax credit for the donation of a conservation easement that are not granted to the director of the division of conservation or the conservation easement oversight commission under section 12-15-106.

(3.7) If the gain on the sale of a conservation easement in gross for which a credit is claimed pursuant to this section would not have been a long-term capital gain, as defined under the internal revenue code, if, at the time of the donation, the taxpayer had sold the conservation easement at its fair market value, then the value of the conservation easement in gross for the purpose of calculating the amount of the credit shall be reduced to the taxpayer's tax basis in the conservation easement in gross. The tax basis of a taxpayer in a conservation easement shall be determined and allocated pursuant to sections 170 (e) and 170 (h) of the internal revenue code, as amended, and any federal regulations promulgated in connection with such sections. This subsection (3.7) shall be applied in a manner that is consistent with the tax treatment of qualified conservation contributions under the internal revenue code and the federal regulations promulgated under the internal revenue code.

(3.8) Repealed.

(4) (a) (I) For a conservation easement in gross created in accordance with article 30.5 of title 38, C.R.S., that is donated prior to January 1, 2007, to a governmental entity or a charitable organization described in section 38-30.5-104 (2), C.R.S., the credit provided for in subsection (2) of this section shall be an amount equal to one hundred percent of the first one hundred thousand dollars of the fair market value of the donated portion of such conservation easement in gross when created, and forty percent of all amounts of the donation in excess of one hundred thousand dollars; except that in no case shall the credit exceed two hundred sixty thousand dollars per donation.

(II) For a conservation easement in gross created in accordance with article 30.5 of title 38, C.R.S., that is donated on or after January 1, 2007, and prior to January 1, 2015, to a governmental entity or a charitable organization described in section 38-30.5-104 (2), C.R.S., the credit provided for in subsection (2) of this section shall be an amount equal to fifty percent of the fair market value of the donated portion of such conservation easement in gross when created; except that, in no case shall the credit exceed three hundred seventy-five thousand dollars per donation.

(II.5) For a conservation easement in gross created in accordance with article 30.5 of title 38 that is donated on or after January 1, 2015, but prior to January 1, 2021, to a governmental entity or a charitable organization described in section 38-30.5-104 (2), the credit provided for in subsection (2) of this section shall be an amount equal to seventy-five percent of the first one hundred thousand dollars of the fair market value of the donated portion of such conservation easement in gross when created, and fifty percent of all amounts of the donation in excess of one hundred thousand dollars; except that in no case shall the credit exceed five million dollars per donation. Credits shall be issued in increments of no more than one million five hundred thousand dollars per year. Credits for easements donated in a prior year shall be eligible for tax credit certificates in subsequent years in order of application and before new applications and those credit applications, if any, on the wait list.

(II.7) For a conservation easement in gross created in accordance with article 30.5 of title 38 that is donated to a governmental entity or a charitable organization described in section 38-30.5-104 (2), the credit provided for in subsection (2) of this section is an amount equal to:

(A) For conservation easements donated on or after January 1, 2021, but before January 1, 2027, ninety percent of the fair market value of the donated portion of such conservation easement in gross when created; except that in no case shall the credit exceed five million dollars per donation; and

(B) For conservation easements donated on or after January 1, 2027, eighty percent of the fair market value of the donated portion of such conservation easement in gross when created; except that, in no case shall the credit exceed five million dollars per donation.

(II.8) Credits shall be issued in increments of no more than one million five hundred thousand dollars per year. Credits for easements donated in a prior year are eligible for tax credit certificates in subsequent years in order of application.

(III) In no event shall a credit claimed by a taxpayer filing a joint federal return, or the sum of the credits claimed by taxpayers who may legally file a joint federal return but actually file separate federal returns, exceed the dollar limitations of this paragraph (a).

(b) (I) For income tax years commencing on or after January 1, 2000, in the case of a joint tenancy, tenancy in common, partnership, S corporation, or other similar entity or ownership group that donates a conservation easement as an entity or group, the amount of the credit allowed pursuant to subsection (2) of this section must be allocated to the entity's owners, partners, members, or shareholders in proportion to the owners', partners', members', or shareholders' distributive shares of income or ownership percentage from such entity or group.

(II) (A) For income tax years commencing on or after January 1, 2000, but prior to January 1, 2003, the total aggregate amount of the credit allocated to such owners, partners, members, and shareholders shall not exceed one hundred thousand dollars, and, if any refund is claimed pursuant to subsection (5)(b)(I) of this section, the aggregate amount of the refund and the credit claimed by such partners, members, and shareholders shall not exceed twenty thousand dollars for that income tax year.

(B) For income tax years commencing on or after January 1, 2003, but prior to January 1, 2007, the total aggregate amount of the credit allocated to such owners, partners, members, and shareholders shall not exceed two hundred sixty thousand dollars, and, if any refund is claimed pursuant to subsection (5)(b)(I) of this section, the aggregate amount of the refund and the credit claimed by such owners, partners, members, and shareholders shall not exceed fifty thousand dollars for that income tax year.

(C) For income tax years commencing on or after January 1, 2007, and prior to January 1, 2015, the total aggregate amount of the credit allocated to such owners, partners, members, and shareholders shall not exceed three hundred seventy-five thousand dollars, and, if any refund is claimed pursuant to subsection (5)(b)(I) of this section, the aggregate amount of the refund and the credit claimed by such owners, partners, members, and shareholders shall not exceed fifty thousand dollars for that income tax year.

(D) For income tax years commencing on or after January 1, 2015, but before January 1, 2027, the total aggregate amount of the credit allocated to such owners, partners, members, and shareholders shall not exceed five million dollars, and, if any refund is claimed pursuant to subsection (5)(b)(I) of this section, the aggregate amount of the refund and the credit claimed by such owners, partners, members, and shareholders shall not exceed fifty thousand dollars for that income tax year.

(E) For income tax years commencing on or after January 1, 2027, the total aggregate amount of the credit allocated to such owners, partners, members, and shareholders shall not exceed five million dollars, and, if any refund is claimed pursuant to subsection (5)(b)(I) of this section, the aggregate amount of the refund and the credit claimed by such owners, partners, members, and shareholders shall not exceed two hundred thousand dollars for that income tax year.

(5) (a) If the tax credit provided in this section exceeds the amount of income tax due on the income of the taxpayer for the taxable year, the amount of the credit not used as an offset against income taxes in said income tax year and not refunded pursuant to paragraph (b) of this subsection (5) may be carried forward and applied against the income tax due in each of the twenty succeeding income tax years but shall be first applied against the income tax due for the earliest of the income tax years possible. Any amount of the credit that is not used after said period shall not be refundable.

(b) (I) Subject to the requirements specified in subparagraphs (II) and (III) of this paragraph (b), for income tax years commencing on or after January 1, 2000, if the amount of the tax credit allowed in or carried forward to any tax year pursuant to this section exceeds the amount of income tax due on the income of the taxpayer for the year, the taxpayer may elect to have the amount of the credit not used as an offset against income taxes in said income tax year refunded to the taxpayer.

(II) (A) Before January 1, 2027, a taxpayer may elect to claim a refund pursuant to subsection (5)(b)(I) of this section only if, based on the financial report prepared by the controller in accordance with section 24-77-106.5, the controller certifies that the amount of state revenues for the state fiscal year ending in the income tax year for which the refund is claimed exceeds the limitation on state fiscal year spending imposed by section 20 (7)(a) of article X of the state constitution and the voters statewide either have not authorized the state to retain and spend all of the excess state revenues or have authorized the state to retain and spend only a portion of the excess state revenues for that fiscal year.

(B) This subsection (5)(b)(II) is repealed, effective December 31, 2031.

(III) If any refund is claimed pursuant to subsection (5)(b)(I) of this section, then the aggregate amount of the refund and amount of the credit used as an offset against income taxes, excluding amounts transferred to or used by a transferee, for that income tax year shall not exceed fifty thousand dollars for that income tax year for income tax years commencing before January 1, 2027, and shall not exceed two hundred thousand dollars for that income tax year for income tax years commencing on or after January 1, 2027. In the case of a partnership, S corporation, or other similar pass-through entity that donates a conservation easement as an entity, if any refund is claimed pursuant to subsection (5)(b)(I) of this section, the aggregate amount of the refund and the credit claimed by the partners, members, or shareholders of the entity shall not exceed the dollar limitation set forth in this subsection (5)(b)(III) for that income tax year. Nothing in this subsection (5)(b)(III) shall limit a taxpayer's ability to claim a credit against taxes due in excess of fifty thousand dollars for tax years commencing before January 1, 2027, and two hundred thousand dollars for tax years commencing on or after January 1, 2027, in accordance with subsection (4) of this section.

(6) (a) For conservation easements donated prior to January 1, 2014, a taxpayer may claim only one tax credit under this section per income tax year; except that a transferee of a tax credit under subsection (7) of this section may claim an unlimited number of credits. A taxpayer who has carried forward or elected to receive a refund of part of the tax credit in accordance with subsection (5) of this section shall not claim an additional tax credit under this section for any income tax year commencing prior to January 1, 2014, in which the taxpayer applies the amount carried forward against income tax due or receives a refund. A transferor who has transferred a credit to a transferee pursuant to subsection (7) of this section shall not claim an additional tax credit under this section for any income tax year commencing prior to January 1, 2014, in which the transferee uses such transferred credit. Commencing January 1, 2014, a taxpayer may claim one tax credit per year regardless of whether the taxpayer has credits remaining from any prior conservation easement donation.

(b) For conservation easements donated on or after January 1, 2000, a taxpayer may claim only one tax credit under this section per income tax year; except that a transferee of a tax credit under subsection (7) of this section may claim an unlimited number of credits.

(7) For income tax years commencing on or after January 1, 2000, a taxpayer may transfer all or a portion of a tax credit granted pursuant to subsection (2) of this section to a transferee for such transferee to apply as a credit against the taxes imposed by this article 22 subject to the following limitations:

(a) The taxpayer may only transfer such portion of the tax credit as the taxpayer has neither applied against the income taxes imposed by this article nor used to obtain a refund;

(b) The taxpayer may transfer a pro-rated portion of the tax credit to more than one transferee;

(c) A transferee may not elect to have any transferred credit refunded pursuant to paragraph (b) of subsection (5) of this section;

(d) Repealed.

(e) To the extent that a transferee paid value for the transfer of a conservation easement tax credit to such transferee, the transferee shall be deemed to have used the credit to pay, in whole or in part, the income tax obligation imposed on the transferee under this article, and to such extent the transferee's use of a tax credit from a transferor under this section to pay taxes owed shall not be deemed a reduction in the amount of income taxes imposed by this article on the transferee;

(f) The transferee shall submit to the department a form approved by the department. The transferee shall also file a copy of the form with the entity to whom the taxpayer donated the conservation easement.

(g) A transferee of a tax credit shall purchase the credit prior to the due date imposed by this article, including any extensions, for filing the transferee's income tax return;

(h) A tax credit held by an individual either directly or as a result of a donation by a pass-through entity, but not a tax credit held by a transferee unless used by the transferee's estate for taxes owed by the estate, shall survive the death of the individual and may be claimed or transferred by the decedent's estate. This paragraph (h) shall apply to any tax credit from a donation of a conservation easement made on or after January 1, 2000.

(i) For a donation made prior to January 1, 2021, the donor of an easement for which a tax credit is claimed or the transferor of a tax credit claimed for the donation of the easement transferred pursuant to this subsection (7) is the tax matters representative in all matters with respect to the credit. The tax matters representative is responsible for representing and binding the transferees with respect to all issues affecting the credit, including, but not limited to, the charitable contribution deduction, the appraisal, notifications and correspondence from and with the department of revenue, audit examinations, assessments or refunds, settlement agreements, and the statute of limitations. The transferee is subject to the same statute of limitations with respect to the credit as the transferor of the credit.

(j) For a tax credit claimed for the donation of an easement made prior to January 1, 2021, final resolution of disputes regarding the tax credit between the department of revenue and the tax matters representative, including final determinations, compromises, payment of additional taxes or refunds due, and administrative and judicial decisions, is binding on transferees.

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

(b) As used in this subsection (7.5), "qualified entity" means a governmental entity that meets the definition of "taxpayer" as set forth in subsection (1)(b) of this section but is otherwise exempt from the income taxes imposed by this article 22.

(8) The executive director of the department of revenue may promulgate rules for the implementation of this section. Such rules shall be promulgated in accordance with article 4 of title 24, C.R.S.

(9) Any taxpayer who claims a credit for the donation of a conservation easement contrary to the provisions of this section shall be liable for such deficiencies, interest, and penalties as may be specified in this article or otherwise provided by law.

(10) and (11) Repealed.

(12) For income tax years commencing on or after January 1, 2024, every taxpayer exempt from taxes pursuant to section 39-22-112 that claims the credit allowed in this section shall file a return pursuant to section 39-22-601 (7)(b).

(13) Any transferee who is subject to the tax on insurance premiums established by sections 10-3-209, 10-5-111, and 10-6-128, and who is therefore exempt from the payment of income tax and who is otherwise eligible to claim a tax credit pursuant to this section may claim the tax credit and carry the tax credit forward against the insurance premium tax to the same extent as the transferee would have been able to claim or carry forward the tax credit against income tax. All other provisions of this section with respect to the tax credit, including the amount and allocation of the tax credit and the years for which the tax credit may be claimed shall apply to a tax credit claimed pursuant to this section.

(14) For any conservation easement granted on or after January 1, 2025, the conservation easement may include a provision providing that if technological or legal changes allow an expanded use of wind and solar power generation, transmission, and storage to be compatible with the protection of conservation values considered as a whole and pursuant to section 170 (h) of the internal revenue code and any federal regulations promulgated in connection with such section, then the holder of the conservation easement may, in its sole discretion, approve expanded wind and solar power generation, transmission, or storage that is compatible with and does not diminish or impair conservation values.

(15) This section is repealed, effective January 1, 2052.
C.R.S. § 39-1-123 — CO Code / Title 39 / Article 1 / Section 39-1-123
39-1-123. Property tax reimbursement - property destroyed by natural cause
Status: repealed

39-1-123. Property tax reimbursement - property destroyed by natural cause. (1) Eligibility. For property tax years commencing on or after January 1, 2013, real or business personal property listed on a single schedule that was destroyed by a natural cause as defined in section 39-1-102 (8.4), as determined by the county assessor in the county in which the property is located, shall be subject to a reimbursement from the state in an amount equal to the property tax liability applicable to the destroyed property in the property tax year in which the natural cause occurred.

(2) Report of destroyed properties. (a) (I) For the property tax year commencing January 1, 2013, on or before July 1, 2014, or on or before October 1, 2014, for public utilities identified in article 4 of this title, the assessor of each county with property destroyed by a natural cause during the year shall forward to the applicable county treasurer a report of the taxable real or business personal property in the county that was destroyed by a natural cause. The report must include the information specified in paragraph (b) of this subsection (2).

(II) For property tax years commencing on or after January 1, 2014, on or before December 15 of the applicable property tax year, the assessor of each county with property destroyed by a natural cause shall forward to the applicable county treasurer a report of the taxable real or business personal property in the county that was destroyed by a natural cause through November of the year. The report must include the information specified in paragraph (b) of this subsection (2).

(III) If after submitting a report to the county treasurer pursuant to subparagraph (I) or (II) of this paragraph (a), the county assessor discovers any taxable real or business personal property that was destroyed by a natural cause during the applicable property tax year that was not included in the report, the county assessor shall forward to the county treasurer a supplemental report of the additional taxable real or business personal property in the county that was destroyed by a natural cause. The report must include the information specified in paragraph (b) of this subsection (2). If applicable, the county assessor shall forward the supplemental report to the county treasurer on or before July 1, or for public utilities identified in article 4 of this title, on or before October 1 of the year following the property tax year in which the property was destroyed by a natural cause.

(b) (I) In the case of taxable real property, the reports required pursuant to paragraph (a) of this subsection (2) shall include the following:

(A) The legal description of each parcel of real property in the county containing the real property destroyed by a natural cause in the applicable property tax year;

(B) The schedule or parcel number for each parcel of real property containing the real property destroyed by a natural cause in the applicable property tax year;

(C) The name of the real property owner on record;

(D) A description of the real property and the date of the destruction; and

(E) The prorated property taxes due on the destroyed real property for the applicable property tax year according to the records of the county assessor.

(II) In the case of taxable business personal property, the reports required pursuant to paragraph (a) of this subsection (2) shall include the following:

(A) The schedule or identifying number for the business personal property destroyed by a natural cause;

(B) The name of the taxpayer who owns or leases the business personal property that was destroyed by a natural cause and the name of the entity under which the taxpayer does business, if applicable; and

(C) The property taxes due on the destroyed business personal property for the applicable property tax year according to the records of the county assessor.

(3) Verification of property taxes owed. (a) Within thirty calendar days of receiving a report from the county assessor pursuant to subsection (2) of this section, the county treasurer of the same county shall verify the total amount of the property tax in the county that is eligible for reimbursement pursuant to subsection (1) of this section. The county treasurer shall calculate such amount based on the certified tax roll that the county treasurer receives from the county assessor, as adjusted by any proration of the amount of property taxes owed due to the destruction of the property.

(b) As soon as practicable after verifying the total amount of property tax in the county that is eligible to be reimbursed, the county treasurer shall transmit a report to the state treasurer that includes the county treasurer's verification and the report of the destroyed properties from the county assessor.

(4) State treasurer to pay county treasurer. After receiving a report from a county treasurer pursuant to subsection (3) of this section, and subject to appropriation, the state treasurer shall issue a reimbursement warrant to the applicable county treasurer in an amount equal to the total amount of property tax due in the county that is eligible to be reimbursed pursuant to subsection (1) of this section for the applicable property tax year. The reimbursement shall be paid from the state general fund.

(5) Reimbursement. (a) Within thirty calendar days of the receipt of moneys from the state treasurer pursuant to subsection (4) of this section, the county treasurer shall:

(I) Apply a credit to the tax bill of the destroyed property for that year in the amount of the expected reimbursement and apply the reimbursement received from the treasurer to such credit; or

(II) Pay the property tax owed for each destroyed property. If the property tax due for the destroyed property has already been paid, the county treasurer shall issue a reimbursement to the taxpayer's last recorded mailing address.

(b) The county treasurer shall waive any interest on unpaid property taxes that are paid pursuant to this subsection (5).

(c) If any reimbursements are returned to the county treasurer as undeliverable, the county treasurer shall hold the reimbursement for six months from the date that the reimbursement was returned to the county treasurer, and the taxpayer may claim the reimbursement from the county treasurer. The county treasurer shall return to the state treasurer any reimbursements that have not been claimed by the taxpayer within such time.

(d) The state treasurer shall transfer to the general fund any moneys that he or she receives from a county treasurer pursuant to paragraph (c) of this subsection (5).

(e) Nothing in this subsection (5) shall be construed to require a county treasurer to credit or pay the property tax bill of any destroyed property prior to the county treasurer's receipt of a reimbursement warrant from the state treasurer pursuant to subsection (4) of this section.

(6) Review. During the first regular session of the seventy-first general assembly, the finance committees of the house of representatives and the senate, or any successor committees, shall review the provisions of this section and make recommendations regarding whether the provisions should be continued, repealed, or continued with modifications.