S.B. 96-6 Personal property tax - elimination of proration. Eliminates the proration of personal property taxes. Requires persons who own taxable personal property as of January 1 of the property tax year, the assessment date, to pay the personal property taxes for the full tax year without proration in the event the tax status of the property changes or the property is destroyed, transferred, or removed from the state during the property tax year. Eliminates the requirement that persons who acquire taxable personal property after January 1 of the property tax year or whose exempt personal property becomes taxable after January 1 of the property tax year must report and pay a portion of the personal property tax due for that property tax year. Waives prorated personal property tax obligations that are not in the process of collection as of January 1, 1997.
Provides that the elimination of the proration of personal property tax applies to personal property tax obligations for property tax years commencing on or after January 1, 1996.
APPROVED by Governor March 20, 1996
EFFECTIVE March 20, 1996
S.B. 96-52 Property tax - transfer of real property - declaration form. Requires the property tax administrator to develop a form for declaring real property transfer information. Requires the state board of equalization to approve the form after review by the advisory committee to the property tax administrator. Eliminates the form for declaring real property transfer information created in statute.
Applies to real property conveyances recorded on or after July 1, 1996.
APPROVED by Governor May 23, 1996
EFFECTIVE July 1, 1996
S.B. 96-156 Income tax - voluntary contributions - Drug Abuse Resistance Education (D.A.R.E.) - appropriation. For income tax years commencing on or after January 1, 1996, but prior to January 1, 1999, permits taxpayers to designate on their Colorado individual income tax return an amount of contribution to the Drug Abuse Resistance Education (D.A.R.E.) fund. Creates the D.A.R.E. fund and credits such contributions to the fund. Authorizes the general assembly to appropriate moneys in the fund to the department of public safety for distribution to D.A.R.E. programs throughout the state. Specifies that distribution of moneys in the fund shall be based on criteria established by the executive director of the department of public safety. Repeals the voluntary contribution and the fund, effective January 1, 2000.
Appropriates $215,000 from the D.A.R.E. fund, or so much thereof as may be available in the fund, to the department of public safety for the implementation of the act.
APPROVED by Governor June 3, 1996
EFFECTIVE June 3, 1996
S.B. 96-157 Property tax - classification of agricultural property. Amends the definition of "agricultural and livestock products" for property tax purposes to state that the use of a product after its sale and the entity that purchases the product are not to be considered in determining whether the product is an agricultural or livestock product.
Provides that land meeting the definition of "agricultural land" may be used by either the landowner or a lessee.
Eliminates the requirement that, in order to qualify as agricultural land, the gross income resulting from the use of a parcel of land as a farm or ranch that is not being restored through conservation practices must equal or exceed one-third of the total gross income resulting from all uses of the property during any given tax year. Specifies what constitutes "in the process of being restored through conservation practices" for the purpose of determining whether a parcel used as a farm or ranch is agricultural land.
Defines "agricultural land" to include:
For purposes of abatements and refunds, defines "erroneous valuation" to include: 1) Any reclassification of property from agricultural land classification for the 1995 property tax year if the property qualifies for classification as agricultural land under the statutory provisions amended by this act; or 2) any denial of a tax exemption for property claimed as agricultural or livestock products for the 1995 property tax year if the property qualifies as agricultural and livestock products property under the statutory provisions amended by this act.
Applies to property tax years commencing on or after January 1, 1995.
VETOED by Governor June 5, 1996
S.B. 96-170 Severance tax trust fund - distributions - appropriation. Authorizes the use of severance tax trust fund moneys for funding programs that promote and encourage sound natural resource planning, management, and development. Splits the severance tax trust fund into the perpetual base account and the operational account. Requires one-half of the severance tax receipts credited to the fund for tax years commencing on and after January 1, 1995, to be credited to the operational account for funding such programs. Requires the executive director of the department of natural resources to submit a list of programs recommended for funding with its annual budget request. Requires the state minerals, energy, and geology policy advisory board to review the executive director's list of recommended programs before submittal.
Allows the general assembly to appropriate money from the operational account of the severance tax trust fund to the department of natural resources for distribution to selected programs or projects as follows: Up to 45% of the moneys for programs within the Colorado oil and gas conservation commission; up to 20% of the moneys for programs within the Colorado geological survey; up to 30% of the moneys for programs within the division of minerals and geology; and up to 5% of the moneys for programs within the Colorado water conservation board. Except in emergencies, limits the use of moneys appropriated for programs and projects within the Colorado oil and gas conservation commission to plugging and abandonment programs, well-site reclamation projects, and specific regulatory and environmental programs. Requires the commission to give priority to uses that reduce industry fees and mill levies.
Appropriates $3,172,000 from the fund and 2.0 FTE to the department of natural resources to fund specific programs for the fiscal year beginning July 1, 1996.
APPROVED by Governor May 23, 1996
EFFECTIVE May 23, 1996
S.B. 96-193 Enterprise zones - requirements for designation - zone termination - tax credits - economic development commission recreated - appropriation. Increases the maximum allowable population for an area to be designated as an enterprise zone from 50,000 to 80,000. Requires that an enterprise zone development plan submitted by a local government to the executive director of the department of local affairs include the specific business development and job creation objectives to be achieved in the enterprise zone. For any area designated as an enterprise zone prior to July 1, 1996, requires local governments to develop and submit specific business development and job creation objectives for the area no later than September 1, 1996. In order for the executive director to determine if the enterprise zones are achieving those objectives, requires local governments to annually report the most recent statistics available on:
Requires the state auditor to submit a report every 2 years to the governor and the general assembly evaluating the implementation of the enterprise zone program and its effect on employment, the unemployment rate, investment, growth, economic diversity, and per capita income and making recommendations for any statutory changes and providing any other information requested by the governor or the general assembly.
Requires the executive director of the department of local affairs to submit a plan, including criteria, procedures, and schedules, for the termination of enterprise zones or portions thereof to the economic development commission no later than January 1, 1997. Provides that the plan shall not call for credits that have already been earned by taxpayers to be cut off or otherwise curtailed and requires procedures for recognizing credits claimed by taxpayers who have taken actions in reliance on agreements with enterprise zone administrators. Requires that the plan provide for designation or termination decisions to be made by the economic development commission upon recommendations of the executive director and that no termination decision be effective prior to July 1, 1997, or prior to submission of a report on the decision to the general assembly. Directs the state auditor to review the plan and provide comments and suggestions to the general assembly within 60 days after received.
Provides that, effective January 1, 1997, all designation and termination decisions shall be made by the economic development commission upon the recommendations of the executive director of the department of local affairs; except that no termination decision may be effective prior to July 1, 1997, or prior to submission of a report on the decision to the general assembly.
Directs the Colorado economic development commission to conduct a competitive benchmarking study evaluating Colorado's business assistance programs in comparison to other states and assessing Colorado's long term economic development strategies. In addition, directs the commission to make recommendations to the governor and the general assembly concerning any additional study that is needed, legislative changes, and specific business development and job creation objectives that should be used as minimum requirements for future designation of enterprise zones. Requires that the report and study be completed by March 1, 1997.
Establishes a process by which taxpayers who have planned activities that would entitle them to enterprise zone tax benefits that could not otherwise be claimed due to the termination of the enterprise zone may certify such information to the economic development commission and receive the tax benefits for up to 5 years after the enterprise zone has been terminated.
Requires enterprise zone administrators to report by November 1 of each year to the department of local affairs a list of all entities that are eligible to receive contributions for the purpose of implementing the economic development plan of the zone for which an enterprise zone tax credit may be claimed. Requires that the list identify the entity, relationship of the entity's activity to the enterprise zone plan, the expected benefits to the zone, and the potential amount of contributions that may be received. Directs the department to forward the lists no later than December 1 of each year to the economic development commission. Requires that modifications to any list be reported within 30 days. Authorizes the commission to hold hearings and review the listed entities and to reject any listed entity within 30 days of receiving the list upon a two-thirds vote of the commission. Allows listed entities to request that the commission reconsider its decision.
Reduces the amount of the contribution credit from 50% to 25%; except that the amount of the credit remains at 50% for contributions made prior to July 1, 1997, to projects that were approved prior to May 1, 1996, and for contributions made after July 1, 1997, but before December 31, 2000, to projects that were approved prior to May 1, 1996, pursuant to a written agreement executed prior to July 1, 1997. Prohibits enterprise zone administrators from accepting or certifying tax credits contributions that directly benefit the contributor or that are not directly related to job creation, job preservation, or other purposes of this article. Allows zone administrators to certify entities that may receive contributions directly from taxpayers. Requires entities receiving direct contributions to submit annual reports to the zone administrator.
Requires zone administrators to report to the department of local affairs within 90 days after making a certification of the value of a contribution the following information: The certified value, the source and purpose of the contribution, and the relationship of the purpose of the contribution to the enterprise zone goals and objectives. Authorizes the department of local affairs and zone administrators to release information concerning the source and amount of contributions, as well as the amount of credits allowed.
With respect to investment tax credits available within an enterprise zone, increases the limit on the credit to 50% of that portion of tax liability that exceeds $5,000 and increases the number of years that any excess credit can be carried forward to 12. For income tax years commencing on and after January 1, 1997, allows a credit for investments in qualified job training programs and school-to-work programs. Defines qualified job training and school-to-work programs.
Permits the enterprise zone tax credit for employer-provided health care insurance to be carried forward for up to 5 years beginning January 1, 1996.
Provides that a 10% increase in the number of employees, as long as at least one new full-time employee is hired, is sufficient to meet the new employee requirement for qualifying an expanded facility as a new business facility for purposes of claiming the enterprise zone credit for new business facility employees.
Abolishes and recreates the Colorado economic development commission. Expands the membership of the commission from 6 to 9, giving the speaker of the house and the president of the senate one additional appointment each and including the executive director of the department of local affairs as a member. Provides that commission members shall serve at the pleasure of the individual that appointed them.
Provides that this act shall apply to income tax years commencing on or after January 1, 1996.
Appropriates $103,600 to the department of local affairs, for allocation to the Colorado economic development commission, for the implementation of this act.
APPROVED by Governor May 31, 1996
EFFECTIVE July 1, 1996
S.B. 96-218 Property tax - treatment of possessory interests in exempt real or personal property - appropriation. Provides that possessory interests in exempt real or personal properties are not subject to property taxation unless specific statutory provisions are enacted directing such taxation.
States that the statute pertaining to the taxation of partial interests is not to be construed to direct the taxation of possessory interests in exempt real or personal property. Repeals the statute pertaining to taxation of leasehold and other possessory interests.
If the Colorado constitution is found to require that possessory interests in government-owned land, improvements, or personal property be taxed, states that specific standards for the appropriate consideration to the cost approach, the market approach, and the income approach to appraisal must be established and applied in the valuation of such possessory interests to eliminate unjust and unequalized valuations that would result in the absence of such standards.
Sets forth a capitalization procedure for the valuation of lands used for ski area recreational purposes. Defines "management contract" and states that management contracts are presumed to have no actual value. Specifies the procedures to be used in valuing other possessory interests based upon the present worth of rents or fees, or portions thereof, to be paid by the holder of the possessory interest to the grantor. Provides that these procedures are not applicable to the valuation of public utilities, equities in state lands, mines, or oil and gas leaseholds and lands.
Prohibits county treasurers from treating any possessory interest in exempt properties as taxable property omitted from the tax roll if the possessory interest was excluded from the tax roll due to any statute created or repealed by this act.
Appropriates $584,117 to the department of education for implementation of this act. Sets aside $581,160 of the 1996-97 appropriation to the department of education for school finance to make additional state aid payments that may result from the adjustment of such payments due to the passage of this act.
Applies to property tax years commencing on and after January 1, 1996; except that the provision concerning the treatment of possessory interests in exempt property as omitted property is applicable upon passage of this act.
APPROVED by Governor June 5, 1996
EFFECTIVE June 5, 1996
H.B. 96-1036 Property tax - collection - options. Allows the treasurer to choose between collection processes by eliminating the requirement that distraint of delinquent personal property and sale be completed before a treasurer may proceed to a collection agency or a court action to collect delinquent personal property taxes.
APPROVED by Governor February 22, 1996
EFFECTIVE February 22, 1996
H.B. 96-1058 Property tax - abatements and refunds - procedures - forms - waiver by public utilities - exception to limitation on abatement or refund for overvaluation - deduction of delinquent personal property taxes. 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. Provides that public utilities that do not file property schedules and that do not appeal the property tax administrator's valuation based on best information available are deemed to have waived any right to file an abatement or refund petition. When an audit of prior years' taxes discloses that taxes are due and owing on a taxpayer's personal property, permits the deduction of the amount due from any abatement or refund of taxes due the taxpayer. Corrects an incorrect statutory cross-reference concerning the appeal of a decision on a petition for refund or abatement of taxes.
Repeals obsolete language concerning abatement or refund petitions based upon the grounds of overvaluation that were pending on June 5, 1991. Repeals obsolete language concerning the taxes that may be challenged on the grounds of overvaluation.
In cases where the valuation of property has been challenged and a notice of determination has been mailed to the taxpayer, provides that the prohibition against an abatement or refund of taxes based upon the grounds of overvaluation is not applicable to personal property when the challenge is withdrawn and an audit by the county assessor reveals that a reduction in value is warranted. Makes this provision applicable to abatement or refund petitions that are pending before a board of county commissioners or the board of assessment appeals on the effective date of this act.
APPROVED by Governor May 1, 1996
EFFECTIVE May 1, 1996
H.B. 96-1063 Property tax - valuation of residential property - consideration of sales by a lender or government - notification of changes in valuation - statements of valuation - no presumption in favor of a pending valuation - annual notices of valuation - tax statement. Eliminates a reference to the cost approach to appraisal so that residential real property is valued solely by the market approach to appraisal. Includes consideration of sales by a lender or government in utilizing the market approach to appraisal.
Requires the notification of changes in valuation prepared by the assessor to include changes made not only after certification of valuation for assessment but also after notification of total actual value. Requires said notification to include changes in total actual value as well as in valuation for assessment.
Requires statements of valuation of public utilities made by the property tax administrator to state 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 or arbitration.
Requires that notices of valuation for both real and personal property be mailed annually. Provides that notices of valuation for nonagricultural property shall set forth the total value of land and improvements together. Specifies that the inclusion of a notice of valuation with a tax bill fulfills the statutory requirements for notification of value and is consistent with the purposes of the state constitution to restrain the growth of government in the intervening year of a reassessment cycle when there is no change in the property's value.
Requires tax statements mailed to taxpayers to include the actual value of real and personal property upon which taxes were levied.
APPROVED by Governor May 22, 1996
EFFECTIVE May 22, 1996
H.B. 96-1075 Property tax - valuation of oil and gas production. Requires owners and operators of oil or gas property and leases to file with the county assessor a statement that:
On and after January 1, 1997, authorizes the assessor to require owners and operators to submit written documentation in support of the information provided in their statement. Requires owners and operators to supply the requested information within 45 days. Provides that any owner or operator who willfully fails or refuses to comply with a request shall be fined $100 for each day of the willful failure or refusal, not to exceed $3000 in any calendar year. Requires fines to be paid to the county assessor. Requires unpaid fines to be included in the delinquent owner's or operator's property tax statement.
States that all statements and documentation filed with the assessor shall be confidential and made available to the assessor, the administrator, and the annual study contractor, and on a confidential basis to the board of assessment appeals and the county board of equalization when information is relevant to an appeal or protest. States that anyone who divulges confidential information is guilty of a misdemeanor.
APPROVED by Governor March 25, 1996
PORTIONS EFFECTIVE March 25, 1996, January 1, 1997
H.B. 96-1084 Property tax - deadlines for certification of abatements and refunds, total valuation for assessment, and growth valuation for assessment. Changes the cutoff date for certification of the amount of property tax revenue rebated or refunded by taxing entities from September 1 to August 1. 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. 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.
APPROVED by Governor February 22, 1996
EFFECTIVE February 22, 1996
H.B. 96-1109 Property tax - personal property exemption - reimbursement to local governments - fund created. For property tax years beginning on and after January 1, 1997, exempts from the levy and collection of property tax a stated amount of actual value of personal property listed on a personal property schedule.
For property taxes levied in property tax years beginning on and after January 1, 1997, requires the state treasurer to transmit a specified amount of moneys for losses in property tax revenue to each local government in which the total assessed value of all taxable property within its taxing jurisdiction decreases below the total assessed value of all taxable property for such government for the 1996 property tax year. Creates the property tax exemption backfill fund and, for fiscal years beginning on and after January 1, 1997, requires the general assembly to appropriate a specified amount to the fund for reimbursement to local governments. By March 1, 1998, and each year thereafter, requires the property tax administrator to prepare a report specifying the amount to be transmitted to each local government and to submit the report to the state treasurer and the general assembly.
Requires the property tax administrator to create a short form of schedule to be used by a taxpayer in reporting personal property when the actual value of all personal property listed on the schedule is equal to or less than the actual value exempt from the levy and collection of property taxes. Prohibits the short form from requiring a taxpayer to list personal property by individual item.
VETOED by Governor June 5, 1996
H.B. 96-1113 Property tax - valuation - minor structures on vacant land - change in tax status of property - oil and gas drilling rigs. Allows for the existence of minor structures on vacant land. 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. Repeals an obsolete statutory section concerning state assessed valuations. 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 in order for such value to be prorated. 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.
APPROVED by Governor June 1, 1996
EFFECTIVE June 1, 1996
H.B. 96-1121 Income tax - credit for child care expenses. Beginning with the 1996 income tax year, allows a Colorado taxpayer a credit against state individual income taxes in an amount equal to a stated percentage of the child care expenses credit claimed on the taxpayer's federal tax return depending on the taxpayer's federal adjusted gross income. Permits a taxpayer to carry forward for up to 5 years any unused credit. Allows the credit to a part-year resident in an apportioned amount.
APPROVED by Governor May 30, 1996
EFFECTIVE May 30, 1996
H.B. 96-1131 Property tax - notices of valuation - valuations for assessment - reporting of errors - abatement reports - payment of delinquent taxes - properties with tax liens subject to sale. Requires notices of valuation for both real and personal property to be mailed annually, regardless of whether there is a change in value.
Directs assessors to notify the department of education of the total valuation of land and improvements within taxing entities located in their county. Directs assessors to certify valuations for assessment to the department of education.
Requires 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 25.
Increases the time allowed for taxpayers to pay delinquent taxes and interest from 10 to 15 days after the mailing of a treasurer's notice of delinquent taxes. With respect to the requirement that treasurers make a list of properties the tax liens on which are subject to sale, deletes the requirement that such list be prepared twenty days after the mailing of notices of delinquent taxes.
Increases the threshold valuation of property that requires county treasurers to publish notice of purchase of a tax lien from $100 to $500.
APPROVED by Governor March 25, 1996
EFFECTIVE March 25, 1996
H.B. 96-1156 Income tax - voluntary contributions - Colorado child care improvement fund - appropriation. For the 1996 income tax year and income tax years thereafter, establishes a voluntary income tax check-off on Colorado individual tax returns to allow Colorado taxpayers to contribute money to be used to make grants to improve the quality of child care programs in the state. Establishes the Colorado child care improvement fund and provides for the voluntary contributions to be credited to the fund. Provides for the distribution of moneys from the fund through the Colorado children's campaign, a Colorado nonprofit organization. Requires the Colorado children's campaign to establish criteria for the distribution of the moneys.
Imposes limits on the amount of voluntary contributions that the Colorado children's campaign may spend for administrative costs and marketing. Creates the child care improvement oversight committee and sets forth the committee's oversight responsibilities relating to grants awarded by the Colorado children's campaign.
Appropriates $27,567 from the Colorado child care improvement fund for the fiscal year beginning July 1, 1996, to the department of revenue for the implementation of this act.
Repeals the provisions of this act on January 1, 2000.
APPROVED by Governor May 30, 1996
EFFECTIVE May 30, 1996
H.B. 96-1177 Income tax - enterprise zone tax credits - sales and use tax exemption - activities involving agricultural products. Expands the enterprise zone income tax credit for new business facility employees to include taxpayers who operate a business in an enterprise zone that adds value through the handling, packing, grading, processing, containerizing, or any other activity involving agricultural commodities. Expands the income tax credit for research and experimental activities within an enterprise zone to include research and development activities that result in an alternative use of or added value to an agricultural product. Exempts from sales and use tax the purchase of machinery or machine tools to be used exclusively in enterprise zone by a person engaged in the manufacturing, processing, or handling of agricultural commodities.
VETOED by Governor April 12, 1996
H.B. 96-1236 Taxation - public utilities - database of taxable addresses - task force - electricians' license exemption. Creates a task force to determine the accuracy of using state, county, or local governmental precinct information or other regularly updated sources of information as a method for determining taxable addresses or locations within taxing entities in the state that impose taxes upon the services or property of a public utility. Requires such information source to meet a specified level of reliability. Specifies the membership of the task force. Requires the task force to submit recommendations by January 1, 1997, to the general assembly to enact legislation designating an information source to serve as the basis for a computer database to be maintained as a public record.
Creates an exemption from the licensing requirements for electricians for installations of electrical facilities under the exclusive control of electric utilities for the purpose of demand side management equipment owned and operated by an electric utility on the load side of the meter.
VETOED by Governor June 6, 1996
H.B. 96-1239 Property tax - valuation of water rights. Provides that exchanged water rights and nonexempt dams, ditches, pipelines, canals, flumes, reservoirs, bypasses, conduits, wells, pumps, or other associated structures or devices used to produce, hold, transport, measure, or exchange water shall be valued for property tax purposes with the item of real property served by the water. Clarifies that valuing real property and the water rights serving the real property as a unit means that any increase in value of the real property served with water made available directly, or by exchange, by the use of any dam, ditch, pipeline, canal, flume, reservoir, bypass, conduit, well, pump, or other associated structure or device shall be included in the valuation of the real property served by the water rights.
Applies to property tax years commencing on or after January 1, 1996.
APPROVED by Governor April 23, 1996
EFFECTIVE April 23, 1996
H.B. 96-1267 Personal property tax - exemption. For property tax years commencing on and after January 1, 1997, exempts personal property from the levy and collection of property tax if the personal property would otherwise be listed on a single personal property schedule and the actual value of the personal property is $2,500 or less.
APPROVED by Governor June 5, 1996
EFFECTIVE See Note
NOTE: This act was passed without a safety clause. It will take effect at 12:01 a.m. on the day following the
expiration of the ninety-day period after final adjournment of the general assembly unless a referendum petition is filed
pursuant to section 1 (3) of the state constitution. In that event, the act will take effect on the date of the official
proclamation of the governor, if it is approved by the voters at the 1996 election.
H.B. 96-1277 Income tax - procedures for payment by nonresident partners of partnerships. For income tax years commencing on and after January 1, 1996: 1) Modifies the filing requirements for Colorado income tax returns of partnerships; and 2) Requires nonresident partners of a partnership to sign an agreement to file a return and pay their share of income tax due on the partnership's income or requires the partnership to file a return and pay the income taxes due from nonresident partners.
APPROVED by Governor April 16, 1996
EFFECTIVE April 16, 1996
H.B. 96-1283 Property tax - valuation of superfund water treatment facilities. States that the income approach to appraisal shall be considered the primary indicator of the value of superfund water treatment facilities. Requires that the cost approach or market approach to appraisal be used to value superfund water treatment facilities only if the value determined under the cost approach or market approach is less than the value determined under the income approach to appraisal. Requires the assessor to capitalize the actual income generated by the property at 10% per annum. Defines "superfund water treatment facilities".
Applies to property tax years commencing on and after January 1, 1996.
APPROVED by Governor March 25, 1996
EFFECTIVE March 25, 1996
H.B. 96-1290 Property tax - abatement or refund - extension of time period for common interest community to request - filing deadline. Extends the time period within which a common interest community may file a petition for abatement or refund of property taxes for property tax years commencing on or after January 1, 1985, but prior to January 1, 1996. Requires a common interest community to file such petition on or before January 1, 1997. Limits the common interest community's right to receive refund interest on such abatements or refunds to the refund interest accruing for the two latest years of illegal or erroneous assessment.
APPROVED by Governor April 25, 1996
EFFECTIVE April 25, 1996
H.B. 96-1313 Taxation - department of revenue - notices by first-class mail. On or after July 1, 1996, allows the department of revenue to mail notices to taxpayers by first-class mail, rather than by certified mail, to the last-known address of a taxpayer. Establishes a presumption that notices sent by first-class mail and certified by an employee of the department as sent by first-class mail have been received by the taxpayer. Provides that evidence of the notice and certification of mailing the notice is prima facie proof that the notice was received by the taxpayer.
APPROVED by Governor April 8, 1996
EFFECTIVE July 1, 1996
H.B. 96-1333 Sales and use tax - exemption for machinery or machine tools used in manufacturing. On and after July 1, 1996, changes the requirement that machinery or machine tools used in manufacturing be used exclusively for manufacturing to a requirement that they be used predominantly for manufacturing in order to qualify for an exemption from sales and use tax. Defines the term "machinery". For purposes of the exemption, provides that direct use in manufacturing is deemed to begin at the point at which raw material is moved from plant inventory on a contiguous plant site and to end at a point at which the raw material has been altered to its completed form, including packaging. Provides that machinery used to move material from one production step to another and machinery used in testing during the manufacturing process are deemed to be directly used in manufacturing for the purposes of the exemption.
APPROVED by Governor June 5, 1996
EFFECTIVE June 5, 1996
H.B. 96-1359 Sales and use tax - wireless telecommunication equipment - sale or transfer - purchase price. For purposes of state sales tax, defines the term "purchase price", when applied to the transfer of wireless phones at no cost or little cost as an inducement to a consumer to enter into or continue a contract for telecommunication services that are subject to state sales tax, means the cash amount paid by the consumer and does not reflect any sales commission or other compensation received by the retailer as a result of the consumer entering into or continuing a contract for such telecommunication services. States that this definition does not apply to the amount a retailer collects from a consumer who defaults or terminates a contract for telecommunication services. States that the transfer of wireless phones as an inducement to enter into or continue a contract for telecommunication services that are subject to sales taxes shall not be construed to be the storage, use, or consumption of the equipment by the transferror and is therefore not subject to use tax.
Applies to legal or administrative proceedings commenced before, on, or after the effective date of the act.
APPROVED by Governor May 22, 1996
EFFECTIVE May 22, 1996
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