S.B. 95-48 Income tax - nongame tax credit check-off. Continues to January 1, 2006, the state income tax voluntary contribution for the nongame and endangered wildlife program.
APPROVED by Governor March 31, 1995
EFFECTIVE March 31, 1995
S.B. 95-108 Income tax - individual state return form - deletion of school district designation. For tax years beginning January 1, 1995, and thereafter, deletes the requirement that the individual income tax return designate the school district in which the individual taxpayer resides.
APPROVED by Governor April 21, 1995
EFFECTIVE April 21, 1995
S.B. 95-123 Property tax - expansion of transitional housing facility exemption. Expands the property tax exemption for transitional housing facilities to facilities for individuals or families who have resided in a homeless shelter within the past 6 months. Allows for proration of the transitional housing facility property tax exemption if the transitional housing facility includes both qualified and unqualified occupants. Specifies that transitional housing facilities owned by qualified limited partnerships are eligible for the property tax exemption.
APPROVED by Governor June 5, 1995
EFFECTIVE June 5, 1995
S.B. 95-142 Special districts - personal property - subject to levy and distraint - limitation. Provides that, for delinquent special district personal property taxes of 100 mills or more in any one year, only the personal property that is the subject of the taxes and located within the special district at the time the taxes are assessed shall be subject to levy or distraint for the payment of such taxes.
APPROVED by Governor April 7, 1995
EFFECTIVE April 7, 1995
S.B. 95-169 Special fuel tax - exemptions for imported fuel - report. Allows any person operating a motor vehicle other than a qualified motor vehicle to bring into the state for the operation of that vehicle only the amount of special fuel contained in the ordinary fuel tank of the vehicle without being liable for payment of the state special fuel tax. Requires that such person who also is authorized by the executive director of the department of revenue to purchase special fuel ex-tax and who has obtained a passenger-mile tax permit shall file quarterly a report of the amount of special fuel consumed during the quarter and any other information required by the executive director.
APPROVED by Governor April 7, 1995
EFFECTIVE April 7, 1995
S.B. 95-209 Income tax - extension of credit for qualified equipment utilizing postconsumer waste. Continues the tax credit for the purchase of qualified equipment used in the manufacture of products from recyclable materials.
VETOED by Governor June 5, 1995
S.B. 95-221 Property tax - sales and use tax - business exemptions, credits, and refunds. For property tax years beginning on and after January 1, 1996, exempts business personal property from property taxation until such business personal property is first used. Changes the criteria for qualifying for the incentive payment or credit based on the taxpayer's property taxes and the sales tax refund for the taxpayer's equipment and supply purchases to include a taxpayer's establishment or expansion of a business facility within an enterprise zone. Adds steam to the industrial fuels that are exempt from the sales and use tax law.
APPROVED by Governor May 31, 1995
EFFECTIVE May 31, 1995
H.B. 95-1024 Property tax - limitation on collection - penalty increase for unpaid checks. Effective January 1, 1996, prohibits instituting an action for collection of property taxes more than 2 years after the taxes are due when the failure to collect the taxes is due to an error or omission of a governmental entity or at any time after a certificate of taxes due, showing payment of all taxes due and redemption of all outstanding tax sales, has been issued. Excepts oil and gas leaseholds and lands from this provision.
Increases the penalty county treasurers may charge for checks that are not paid upon presentment from $15 to the amount otherwise authorized by law.
APPROVED by Governor March 17, 1995
EFFECTIVE March 17, 1995
H.B. 95-1028 Sales and use tax - exemption for purchases of items related to the manufacturing of tangible personal property - eligible purchasers. Eliminates the requirement that a purchase of machinery, machine tools, or parts thereof be made by "a person engaged in manufacturing" and used by the same person in manufacturing tangible personal property in order to qualify for the sales and use tax exemption. Eliminates the requirement that a purchase of machinery, machine tools, or parts thereof, and materials for the construction or repair of such items be made by "a person engaged in manufacturing" in order to qualify for the exemption from sales and use taxes imposed in enterprise zones. Adds a requirement that, in order to qualify for the enterprise zone exemption, the items purchased must be used in manufacturing tangible personal property for sale or profit.
Applies to sales and use taxes imposed or collected on or after July 1, 1995.
APPROVED by Governor April 7, 1995
EFFECTIVE April 7, 1995
H.B. 95-1034 Income tax - deductions from income - disabled taxpayer - disabled dependent. For income tax years commencing on and after January 1, 1996, allows a deduction from state taxable income for a taxpayer with a disability and for each individual with a disability who is a resident of Colorado and properly claimed as a dependent of a taxpayer in an amount equal to the amount of the federal exemption for a dependent. Provides that disability shall be determined in accordance with the federal definition used for social security purposes.
VETOED by Governor June 5, 1995
H.B. 95-1045 Property tax - repeal of annual reappraisal requirement. Repeals the law that provided for annual property tax reappraisals to commence in 1997.
APPROVED by Governor March 9, 1995
EFFECTIVE March 9, 1995
H.B. 95-1071 Property tax - increased valuation for assessment due to new construction definition - property acquired with GOCO funds - total actual value of residential property - notices of value - treatment of possessory interests in real property. Changes the cutoff date from September 1 to August 1 for certification of the amount of property tax revenue rebated or refunded by taxing entities. Defines "increased valuation for assessment attributable to new construction and personal property connected therewith". Changes the date by which county assessors must certify to each authority in the county the total valuation for assessment of all taxable property within the territorial limits of the authority from September 15 to August 25.
If a state agency acquires a property interest using money from the Great Outdoors Colorado (GOCO) trust fund and such property interest is no longer taxable as a result of the acquisition, provides that the state agency holding the interest shall make annual payments in lieu of taxes on the property. Directs such payments to be made from the GOCO trust fund to the extent trust fund money was used to fund the acquisition. Directs boards of county commissioners to provide to each state agency responsible for payments in lieu of taxes the assessed value of each parcel of land subject to payments, the amount of the payment in lieu of taxes for the parcel (at a rate which does not exceed the applicable rate if the land were taxable), and the due date for the payment in lieu of taxes. Requires the GOCO trust fund board to make timely payments to the responsible state agencies and requires the state agencies receiving such payments to transmit the appropriate portion of the payments to the county entitled to receive them. Directs each board of county commissioners to give each school district, special district, or political subdivision its appropriate share of the total payment received by the board as soon as practicable after the board receives a payment. Requires payments to school districts to be reported to the state board of education.
Deletes a statutory reference to consideration of the cost approach in valuing residential property. Includes consideration of sales by a lender or government in utilizing the market approach to appraisal. Allows for the existence of minor structures on vacant land and defines "minor structures". Clarifies the applicability of the review and approval process used for manuals and associated data published by the administrator to assist assessors in the valuation of property.
Changes from May 1 to May 15 the date by which a notice of organization and intent to levy taxes must be received by the assessor and the board of county commissioners in order for a special district to levy taxes in the year in which it was organized. Changes from May 1 to May 15 the date by which a court order of inclusion must be filed with the county clerk and recorder in order for a special district to levy a tax against property in the year it was included in the special district. Changes from May 1 to May 15 the date by which a court order of exclusion must be filed with the county clerk and recorder to preclude the special district from levying a tax against property in the year that the exclusion becomes effective.
Specifies that the limits of section 20 (7) (c) of article X of the state constitution are applicable to the extension of levies from the previous year. Requires the notification of changes in valuation prepared by the assessor to include changes made after certification of valuation for assessment and notification of actual value. Also requires said notification to include changes in total actual value as well as in valuation for assessment. Requires that 2 copies of an application for an abatement or refund that is in excess of $1,000 and that has been recommended by a board of county commissioners be submitted to the property tax administrator. Directs the property tax administrator to approve the form of petitions for abatement or refund. For purposes of determining the proportion of valuation that is taxable when exempt property becomes taxable or taxable property becomes exempt, deletes the requirement that the change in status occur between the assessment date and the date taxes are levied.
Provides that public utilities that do not file property schedules and that do not appeal the administrator's best information available assessment are deemed to have waived their right to file an abatement or refund petition. Requires statements of valuation of public utilities made by the property tax administrator to include the actual value of the utility. Changes statutory references from "valuation for assessment" to "valuation" and states that there shall be no presumption in favor of any pending valuation in the valuation appeals process. Clarifies that oil and gas drilling rigs are valued pursuant to certain procedures, even if brought into the state after the assessment date or removed from the state before the assessment date.
Provides that notices of valuation for residential property shall set forth the total value of land and improvements. Requires notices of valuation for both real and personal property to be mailed annually. Provides that a notice, included with the tax bill, that refers to the actual value of the property as set forth on the tax bill shall be sufficient to meet statutory and constitutional notice requirements in the intervening year of a reassessment cycle when there is no change in value for the property. Directs assessors to notify the department of education of the total valuation of land and improvements within taxing entities located in the county. Directs assessors to include the department of education in their certification of valuations for assessment. Changes the date by which assessors must annually report the amount of growth valuation for assessment in their counties from October 10 to August 25.
Changes from 30 to 45 days the period in which respondents may file their appeals from a decision of the board of assessment appeals to the court of appeals and states that there shall be no presumption in favor of any pending valuation in the valuation appeals process. Requires tax statements mailed to taxpayers to include the actual value of real and personal property upon which taxes were levied. Directs assessors to report to the board of county commissioners any erroneously or illegally collected taxes that assessors discover. Changes the date by which treasurers must make their annual report of abated, refunded, and uncollectible taxes to the administrator from March 1 to August 1.
Declares the finding of the General Assembly that the holding of the Colorado Supreme Court in Mesa Verde v. Montezuma County (April 24, 1995) is inconsistent with the intent of the General Assembly. Repeals this finding on January 1, 1999. States that, if the Colorado constitution is found to require that rights to use land, improvements, or personal property be subject to tax, certain valuation procedures be used in order to give appropriate consideration to the cost approach, the market approach, and the income approach to appraisal and to eliminate unjust and unequalized valuations that would result in the absence of such procedures. Sets forth a capitalization procedure for the valuation of lands used for ski area recreational purposes. In the using of the market or income approach to valuing other possessory interests, requires that there be a representative body of market or income data sufficient to set a reliable pattern. In the absence of sufficient data, provides for the use of capitalization methodologies established by the property tax administrator. Provides that these procedures are not applicable to the valuation of public utilities.
Deletes language that stated that taxes could not be collected at any time after a certificate of taxes due, showing payment of all taxes due and redemption of all outstanding tax sales, was issued for a property. Provides that no taxes shall be assessed or collected under the statute pertaining to possessory interests or under the Mesa Verde case, except for the property that was the subject of the case.
Repeals the requirement that property tax arbitrators be registered, licensed, or certificated real estate appraisers. Repeals the statutes pertaining to taxation of partial interests and to taxation of leasehold and other possessory interests.
Applies to property tax years commencing on and after January 1, 1995; except that the provisions pertaining to property tax appeals apply to petitions and claims filed on and after July 1, 1995, and the provisions concerning the collection of taxes under the authority of the Mesa Verde case and the qualifications of property tax arbitrators are applicable upon passage of the act.
VETOED by Governor June 5, 1995
H.B. 95-1108 Severance tax - oil and gas transportation costs deduction - allocation of severance tax revenue. Specifies that transportation costs that may be deducted from gross income for severance tax purposes include the cost of moving identifiable, measurable oil or gas from the point at which it is first identifiable and measurable to the point of sale or any other point where value is established and the cost of compression downstream. Excludes gathering from being deductible as transportation.
Effective June 30, 1995, if the percentage change in net severance tax revenue for oil, gas, and carbon dioxide from the previous fiscal year is less than the percentage change in a production value index calculated by the Colorado oil and gas conservation commission from the state total production and price data in the previous calendar year, requires a percentage of the net severance tax revenue from oil, gas, and carbon dioxide to be deposited in the local government severance tax fund to bring the amount of revenue in the fund up to the previous fiscal year's level and requires an equivalent reduction in the percentage deposited in the state severance tax trust fund.
APPROVED by Governor May 25, 1995
EFFECTIVE May 25, 1995
H.B. 95-1136 Property tax - valuation for assessment - residential real property. Establishes 10.36% of actual value as the ratio of valuation of assessment for residential real property for property tax years commencing on or after January 1, 1995, but before January 1, 1997.
APPROVED by Governor May 22, 1995
EFFECTIVE May 22, 1995
H.B. 95-1149 Income tax - voluntary contribution to older American volunteer program fund. Reestablishes the voluntary contribution designation on state income tax returns for the action older American volunteer program fund. Extends the repeal date of the program and fund until January 1, 2000.
APPROVED by Governor March 30, 1995
EFFECTIVE January 1, 1996
H.B. 95-1154 Gasoline tax - distributors - liability - amount of surety bond or deposit - electronic submission of itemized statements - appropriation. Allows no more than 3 tax-deferred transactions after gasoline has left the refinery. If more than 3 distributors acquire the gasoline, imposes liability for payment of the gasoline excise tax on the third distributor acquiring the gasoline. Provides that prior distributors may pay the tax.
Changes the definition of distributor to mean any person acquiring gasoline from a refiner or another distributor for storage and subsequent sale and distribution by the person or another distributor. Repeals the definition of "received". Defines refiner to include distributors who transfer gasoline between refineries for storage purposes only.
Increases the maximum amount of any additional surety bond or negotiable certificate of deposit required for any licensed distributor or refiner acquiring gasoline in a quantity that makes the distributor or refiner liable for an amount of excise tax greater than that of the preceding and current month from $100,000 to $200,000.
Requires that itemized distributor statements about the acquisition and disposition of gasoline be made under penalty of perjury in the second degree. Specifies that on or after a specified date, the required information be submitted electronically and in accordance with rules promulgated by the department of revenue.
Appropriates $10,035 from the highway users tax fund to the department of revenue for the implementation of the act.
APPROVED by Governor May 25, 1995
EFFECTIVE July 1, 1995
H.B. 95-1251 Income tax - enterprise zones tax credit - activities involving agricultural commodities. For income tax years commencing on or after January 1, 1996, expands the enterprise zone tax credit for:
VETOED by Governor June 5, 1995
H.B. 95-1268 Property tax - agricultural land defined to include land subject to perpetual conservation easement. For property tax purposes, modifies the definition of "agricultural land" to include land that was agricultural but that becomes subject to a perpetual conservation easement if the easement is granted to a qualified organization exclusively for conservation purposes and if all current and future uses of the land are described in the easement. Requires that such land be a parcel of at least 80 acres unless the parcel contains no residential improvements. Excludes portions of such land that are actually used for nonagricultural commercial or residential purposes.
Defines "conservation purpose", "perpetual conservation easement", and "qualified organization" with reference to federal law.
Provides that any portion of agricultural land subject to a conservation easement shall continue to be valued as agricultural, except that portions of such land actually used for nonagricultural commercial or residential purposes shall be valued according to such use.
If a perpetual conservation easement on agricultural land is terminated, violated, or substantially modified so that it is no longer granted exclusively for conservation purposes, authorizes the assessor to reassess the land retroactively for 7 years and provides that the additional taxes that would have been levied for such period shall become due.
Provides that these changes are applicable to property tax years commencing on and after January 1, 1996.
APPROVED by Governor April 7, 1995
EFFECTIVE April 7, 1995
H.B. 95-1279 Sales and use tax - seller-financed motor vehicle sales - deduction of unreceived sales tax payments - rules. In the case of a seller-financed motor vehicle sale in which the sales taxes due are included in the financed sales price and in which the purchaser has defaulted on the payments due, authorizes the seller to deduct all portions of the unreceived payments that are attributable to sales taxes due on the sale from the seller's next sales tax return. If the amount that can be deducted exceeds the seller's sales tax liability for the next reporting period, allows the seller to carry forward any unused deduction to future sales tax returns. Provides that such deductions do not create a right to refund or any other payment to the seller by the department of revenue. Defines seller-financed sale. Authorizes the department of revenue to promulgate rules and regulations for the implementation of these procedures.
APPROVED by Governor May 25, 1995
EFFECTIVE May 25, 1995
H.B. 95-1337 Property tax - filing deadlines for exemptions - waiver by state board of equalization. Authorizes the state board of equalization, acting by majority vote, to waive the July 1 filing deadline for annual reports for property tax exemptions when such action would serve the interests of justice and equity.
APPROVED by Governor May 22, 1995
EFFECTIVE May 22, 1995
H.B. 95-1361 Sales and use tax - exemption for sales of coins and precious metal bullion. Reestablishes the sales and use tax exemption for coins and precious metal bullion which expired on April 17, 1995.
VETOED by Governor June 5, 1995
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