Modifies the annual reporting requirements for enterprise zones. Requires the executive director of the department of local affairs to submit to the general assembly an annual report summarizing the information submitted for each enterprise zone. Requires the state auditor to review such reports no later than September 1, 2001, and every 2 years thereafter. Modifies the time and manner in which the state auditor conducts audits of the enterprise zone program.
Requires companies claiming enterprise zone credits to provide information to evaluate enterprise zones. Requires the executive director of the department of local affairs at specified times to create a plan for the termination of enterprise zones that no longer meet the criteria required to be designated as an enterprise zone. After an enterprise zone has been terminated, allows credits to be extended by filing a certification with the taxpayer's income tax return rather than filing with the economic development commission.
Requires the Colorado economic development commission to review each year only specified programs, projects, and organizations to which taxpayers may contribute for enterprise zone tax credits, rather than all such programs, projects, and organizations. Requires the commission to approve the programs, projects, and organizations to which taxpayers may contribute rather than reject any program, project, or organization that the commission determines is not eligible or is not essential to the mission of the zone. Requires a majority of the members of the commission present to approve a program, project, or organization, rather than a two-thirds majority to reject a program, project, or organization.
APPROVED by Governor May 20, 1999
EFFECTIVE May 20, 1999
S.B. 99-74 Child care voluntary contribution program - extension. Extends the child care voluntary contribution program for a period of 10 years. Terminates the terms of the 3 current members of the child care improvement oversight committee on January 1, 2000, and requires the governor to appoint 3 new members to the committee for terms commencing on January 1, 2000. Transfers all rights and responsibilities of the Colorado children's campaign with respect to moneys contributed to the Colorado child care improvement fund to the Colorado office of resource and referral agencies, inc. Increases the amount of certain contributions such office may spend to pay its administrative costs.
APPROVED by Governor April 15, 1999
EFFECTIVE August 4, 1999
NOTE: This act shall 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 that is allowed for submitting a referendum petition pursuant to article V, section
1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of
this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date
of the official declaration of the vote thereon by proclamation of the governor.
S.B. 99-89 Property tax - notice of valuation - itemized listing of characteristics. Requires notices of valuation for the first year of the reassessment cycle to include an itemized list of land and improvements and the characteristics that are germane to the value of each. Phases in this requirement between 2001 and 2005 based upon county population.
APPROVED by Governor May 20, 1999
EFFECTIVE May 20, 1999
H.B. 99-1001 Refund of revenues exceeding TABOR limit - sales tax refund - calculation - qualified individuals - income classifications. If the amount of state revenues exceeds the limitation on state fiscal year spending for any given fiscal year commencing on or after July 1, 1998, and voters have not authorized the state to retain and spend all of the excess revenues, requires a temporary state sales tax refund to refund an amount equal to 105% of those excess revenues that are not refunded by another method established by law.
Requires the executive director of the department of revenue to calculate the amount of the identical individual refund. If the amount of the identical individual refund is less than or equal to $15, requires that each qualified individual be allowed an identical refund. If the amount of the identical individual refund exceeds $15, requires the executive director of the department of revenue, by October 1 of a calendar year in which there are excess revenues, to calculate the income classifications and state sales tax refund necessary to refund an amount equal to 105% of the excess revenues not refunded by another method established by law. Specifies the procedure for making this calculation when one or more ballot questions are submitted to the voters seeking authorization for the state to retain and spend all or any portion of the excess revenues.
Directs that the executive committee of the legislative council must approve the calculation of the income classifications and sales tax refund amounts, but establishes circumstances under which the classifications and refunds can be automatically approved. Allows the executive committee, upon disapproving the executive director's suggested income classifications or sales tax refund amounts, to specify the classifications or refunds for use by the executive director.
Requires publication of the amounts of the sales tax refund in rules promulgated by the executive director.
Defines a "qualified individual" for purposes of claiming the refund. Makes certain persons convicted of a felony or misdemeanor ineligible for the refund.
Specifies the following 6 income classifications based on a qualified individual's total federal adjusted gross income and social security benefits excluded from adjusted gross income:
Directs calculation of the amount of the sales tax refund for each income classification by dividing an amount equal to a specified percentage of the total excess revenues by the estimated number of qualified individuals expected to claim the refund. Specifies that 2 qualified individuals filing a joint return are entitled to an amount equal to double the amount of the refund allowed for a particular income classification.
Requires the executive director to adjust, for the taxable year commencing January 1, 2000, and ending December 31, 2000, and for each subsequent taxable year, the income classifications and refund amounts so that the percentage of individuals claiming the refund under a particular income classification for those taxable years and the percentage of excess revenues refunded to the individuals for a particular income classification for those taxable years remains the same as each of those percentages for the 1999 taxable year. Requires the executive director to use the most recent general fund estimates prepared by the staff of the legislative council of the general assembly in calculating the refund amounts.
Requires that, to claim the refund, a qualified individual who has income tax liability or who is claiming a refund of withheld taxes must timely file a state individual income tax return, and requires a qualified individual who files a state individual income tax return only to claim the sales tax refund to file that return on or before April 15 of the calendar year following the tax year for which the credit is being claimed.
Based upon the financial statement prepared to ascertain compliance with section 20 of article X of the state constitution, requires the state controller to certify the amount of state revenues in excess of the constitutional limitation on state fiscal year spending for any given fiscal year by September 1 following the end of that fiscal year. Requires the state auditor to conduct an audit of the certified amount of excess state revenues by the September 15 following that certification.
Allows, subject to certain restrictions, a qualified individual who claims a property tax assistance grant or a heat or fuel expenses assistance grant to claim a sales tax refund on the assistance grant application form.
Allows a qualified individual, if the sales tax refund exceeds the income taxes due on the qualified individual's income, to elect to carry forward the amount of the refund not used as an offset against income taxes or as an offset against subsequent years' income tax liability.
Subjects those persons who claim but are not eligible to claim the refund to specified criminal penalties.
Specifies the refund procedure for qualified individuals who have been convicted of a felony and who, at the time of filing for the refund, are incarcerated in a correctional facility or in a county or municipal jail awaiting transfer to a correctional facility. Requires the department of corrections, the department of human services, and each county, to the extent such county has the capability, to provide information to the department of revenue necessary to identify those persons who are ineligible for a refund because of a term of incarceration and those persons who are eligible for a refund but who are incarcerated at the time of filing.
Appropriates $240,888 and 2.2 FTE to the department of revenue for implementation of the act. Adjusts appropriations in the 1999 long bill for the capital construction fund and the department of transportation, construction projects.
APPROVED by Governor June 3, 1999
EFFECTIVE August 4, 1999
NOTE: This act shall 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 that is allowed for submitting a referendum petition pursuant to article V, section
1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of
this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date
of the official declaration of the vote thereon by proclamation of the governor.
H.B. 99-1002 Sales and use tax exemption - farm equipment. Creates a state sales and use tax exemption for farm equipment purchased and sold on or after July 1, 1999, and for farm equipment having a market value of at least $1,000 that is rented or leased on or after July 1, 1999. Defines "farm equipment" to include farm tractors, implements of husbandry, and irrigation equipment having a per unit purchase price of at least $1,000. Includes in the definition, regardless of purchase price, attachments to exempt farm tractors and implements of husbandry and bailing wire, binders twine, and surface wrap used primarily and directly in any farm operation. Excludes the following from the definition of "farm equipment":
Allows counties and municipalities to impose sales tax on farm equipment that is sold or leased.
APPROVED by Governor June 3, 1999
EFFECTIVE June 3, 1999
H.B. 99-1003 Income tax - elimination of marriage penalty. Eliminates the state income tax marriage penalty by:
APPROVED by Governor May 27, 1999
EFFECTIVE August 4, 1999
NOTE: This act shall 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 that is allowed for submitting a referendum petition pursuant to article V, section
1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of
this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date
of the official declaration of the vote thereon by proclamation of the governor
H.B. 99-1005 Sales and use tax - direct payment permit for qualified purchasers. Authorizes the executive director of the department of revenue to issue a direct payment permit number to any person who meets certain qualifications and designates such a person as a "qualified purchaser". Specifies that a retailer or vendor who receives a direct payment permit number from a qualified purchaser is not liable for collecting and remitting the sales and use tax due on the sale of commodities, services, or tangible personal property to the qualified purchaser.
Authorizes the executive director of the department of revenue to revoke the direct payment permit number of a qualified purchaser under certain circumstances.
Allows a qualified purchaser to provide a direct payment permit number to a vendor or retailer that is liable and responsible for collecting and remitting the sales and use tax due and requires the qualified purchaser to remit the amount of such tax directly to the executive director of the department of revenue. Allows a qualified purchaser who provides a direct payment permit number to retain a vendor's fee.
Subjects the goods and business fixtures of a qualified purchaser to a lien if the qualified purchaser neglects or refuses to remit the amount of sales and use tax due.
Permits the use of a direct payment permit number in connection with the collection of any countywide tax or city or town sales tax and any sales tax levied by the regional transportation district, the scientific and cultural facilities district, the Denver metropolitan major league baseball stadium district, the metropolitan football stadium district, and any local improvement district.
APPROVED by Governor February 26, 1999
EFFECTIVE January 1, 2000
NOTE: This act shall take effect January 1, 2000, unless a referendum petition is filed during the ninety-day period
after final adjournment of the general assembly that is allowed for submitting a referendum petition pursuant to article
V, section 1 (3) of the state constitution. If such a referendum petition is filed against this act or an item, section, or
part of this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the
date of the official declaration of the vote thereon by proclamation of the governor.
H.B. 99-1009 Sales and use tax exemption - coins and precious metal bullion. On or after July 1, 1999, reinstates the sales and use tax exemption for coins and precious metal bullion.
APPROVED by Governor June 3, 1999
EFFECTIVE June 3, 1999
H.B. 99-1012 Property tax - assessment ratio for residential real property. Sets the ratio of valuation for assessment for residential real property for the 1999 and 2000 property tax years at 9.74% of actual value.
APPROVED by Governor April 30, 1999
EFFECTIVE April 30, 1999
H.B. 99-1014 Reports - personal property tax schedules - reports concerning tips or remunerations - filing by magnetic media. Requires that personal property tax schedules be designed to show a property owner's social security number or federal employer identification number.
Specifies that persons who are required to file annual reports concerning tips or remunerations for services or remunerations for direct sales must show amounts withheld for Colorado income tax purposes. Authorizes the executive director of the department of revenue to require magnetic media taxpayers to file such reports by magnetic media.
Modifies the definition of "magnetic media taxpayer" for the purposes of filing annual statements of amounts deducted and withheld from employee wages.
APPROVED by Governor April 13, 1999
EFFECTIVE August 4, 1999
NOTE: This act shall 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 that is allowed for submitting a referendum petition pursuant to article V, section
1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of
this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date
of the official declaration of the vote thereon by proclamation of the governor.
H.B. 99-1015 Sales tax - exemption - food sold through vending machines. On and after January 1, 2000, exempts sales and purchases of food through vending machines from the state sales and use tax.
Provides that the sales and use tax exemption created by this act is not applicable to statutory cities' and counties' sales tax bases, unless expressly adopted by such cities and counties, or to any sales tax levied by the regional transportation district, the scientific and cultural facilities district, the Denver metropolitan major league baseball stadium district, or the metropolitan football stadium district.
APPROVED by Governor June 3, 1999
EFFECTIVE January 1, 2000
H.B. 99-1016 Sales and use tax exemption - substances provided to livestock. Exempts from the state sales and use tax agricultural compounds used to promote the health of livestock and semen used for agricultural or ranching purposes. Defines the term "agricultural compounds".
APPROVED by Governor June 3, 1999
EFFECTIVE July 1, 1999
H.B. 99-1125 Income tax - corporations - computation of amount of foreign source income apportioned to Colorado. For income tax years commencing on or after January 1, 2000, adjusts the computation of the amount of foreign source income to be apportioned to Colorado for state corporate income tax purposes, which is now based upon a statutory formula involving a set percentage of income, to reflect the effective federal corporate income tax rate during that tax year for all federal taxable income for a given corporation.
APPROVED by Governor June 3, 1999
EFFECTIVE August 4, 1999
NOTE: This act shall 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 that is allowed for submitting a referendum petition pursuant to article V, section
1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of
this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date
of the official declaration of the vote thereon by proclamation of the governor.
H.B. 99-1137 Income tax - exclusion of certain interest, dividend, and capital gains income from federal taxable income to refund excess state revenues to comply with TABOR. For any income tax year commencing on or after January 1, 2000, if the controller certifies that the amount of excess state revenues for the state fiscal year ending in that income tax year equals or exceeds $220 million, and the voters statewide have not authorized the state to retain and spend all of the excess revenues or have authorized the state to retain and spend only a portion of the excess state revenues for that fiscal year, allows an exclusion from federal taxable income for state income tax purposes in an amount equal to the aggregate of any interest income, dividend income, and net capital gains, not to exceed $1,200 in any taxable year. In the case of two individuals filing a joint return or a qualified individual filing as a surviving spouse, the amount subtracted from federal taxable income shall not exceed $2,400 in any taxable year.
Requires the executive director of the department of revenue to publish rules pertaining to the state income tax modification allowed by the act. Requires the modification to be included on income tax forms for the taxable year in which it is allowed.
Specifies that, if the controller certifies that the amount of excess state revenues for any state fiscal year commencing on or after July 1, 1999, are less than $220 million, the state income tax modification shall not be allowed for the taxable year in which the state fiscal year ended. Requires the executive director of the department of revenue to annually adjust the amount of excess state revenues used to determine if the state income tax modification is allowed to reflect the rate of growth of Colorado personal income for the calendar year immediately preceding the calendar year in which such adjustment is made. Defines "rate of growth of Colorado personal income". Requires the executive director to notify the executive committee of the legislative council of the adjusted dollar amount and the basis for the adjustment. Requires the executive committee to review and approve or disapprove such adjustment, and specifies procedures to be followed in connection with such review.
Requires the state controller to certify the amount of excess state revenues for any given fiscal year by a specified date. Requires the state auditor to conduct an audit of the certified amount of excess state revenues by a specified date.
APPROVED by Governor May 24, 1999
EFFECTIVE May 24, 1999
H.B. 99-1151 Income tax - increased exclusion of retirement income. For income tax years commencing on or after January 1, 2000, increases from $20,000 to $24,000 the amount of pension or annuity income that an individual who is 65 years of age or older at the close of the taxable year may subtract from federal taxable income for state income tax purposes.
APPROVED by Governor June 3, 1999
EFFECTIVE August 4, 1999
NOTE: This act shall 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 that is allowed for submitting a referendum petition pursuant to article V, section
1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of
this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date
of the official declaration of the vote thereon by proclamation of the governor.
H.B. 99-1155 Income tax - conservation easement credit. For income tax years commencing on or after January 1, 2000, establishes an income tax credit for taxpayers who donate all or part of a perpetual conservation easement in gross created upon real property they own to a governmental entity or charitable organization.
Establishes an amount for the income tax credit equal to the fair market value of the donated portion of the conservation easement in gross when created. Specifies that the credit shall not exceed $100,000 per donation. Allows any unused portion of the income tax credit to be carried forward for 20 succeeding income tax years. Allows a taxpayer to claim one tax credit per income tax year but does not allow a taxpayer to claim an additional tax credit for any income tax year in which the taxpayer has carried forward part of the unused tax credit from a previous income tax year. To the extent that an amount is claimed as a charitable contribution deduction on a taxpayer's federal income tax return and as a state income tax credit for a conservation easement, requires that such amount be added back into federal taxable income for the purpose of calculating state taxable income.
APPROVED by Governor May 28, 1999
EFFECTIVE August 4, 1999
NOTE: This act shall 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 that is allowed for submitting a referendum petition pursuant to article V, section
1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of
this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date
of the official declaration of the vote thereon by proclamation of the governor.
H.B. 99-1206 Sales and use tax - highway users tax fund - repeal. Makes permanent the provisions of Senate Bill 97-1 and House Bill 98-1202 that earmarked 10% of the state sales and use tax for the highway users tax fund ("HUTF").
Repeals the "trigger" that provided for a reduction in the amount of sales and use taxes directed to the HUTF when general fund revenues are not enough to fund $140 million in capital construction outside the 6% appropriation limit. Retains the "trigger" that provides for a reduction in the amount directed to the HUTF when general fund revenues are not enough to fund expenditures up to the 6% appropriation limit.
APPROVED by Governor May 7, 1999
EFFECTIVE May 7, 1999
H.B. 99-1207 Income tax - reduction of rate. Lowers the state income tax rate imposed on individual, estates, trusts, domestic C corporations, and foreign C corporations doing business in Colorado from 5% to 4 ¾% for income tax years commencing on or after January 1, 1999.
Requires the executive director of the department of revenue to include on all income tax forms for income tax years commencing on or after January 1, 1999, a statement explaining that prior to January 1, 1999, the income tax rate for an individual, estate, and trust was 5% of federal taxable income and the income tax rate for corporations was 5% of net income and that the income tax rate was reduced to 4¾% for taxable years commencing on or after January 1, 1999.
APPROVED by Governor June 4, 1999
EFFECTIVE August 4, 1999
NOTE: This act shall 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 that is allowed for submitting a referendum petition pursuant to article V, section
1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of
this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date
of the official declaration of the vote thereon by proclamation of the governor.
H.B. 99-1208 Nonsettling tobacco manufacturers - escrow payments - penalties - appropriation. Enacts the model statute included in the multistate tobacco settlement agreement that would limit the reduction in the state's settlement payments due to increases in market shares by nonsettling tobacco manufacturers. Requires a tobacco manufacturer who is not a party to the master settlement agreement to either agree to the terms of the master settlement agreement or pay into an escrow account specified amounts for each product sold. Permits the manufacturer to receive the interest on the escrow account. Permits the principal of the escrow account to be withdrawn only:
Establishes civil penalties for a manufacturer's failure to pay the required amounts into escrow and, for a second or subsequent knowing failure, authorizes a court to prohibit a manufacturer from selling tobacco in the state for up to 2 years.
Appropriates from the general fund $140,840 to the department of revenue and $27,648 and 0.5 FTE to the department of law. Adjusts the general fund appropriation made to the capital construction fund in the annual general appropriations act by $168,488.
APPROVED by Governor May 28, 1999
EFFECTIVE July 1, 1999
H.B. 99-1216 Tobacco - violating federal laws - prohibition - confiscation - penalty. Prohibits importing into the state any tobacco that violates federal labeling requirements. Prohibits the sale of or affixing the tax stamp to a tobacco package or container:
Establishes that a violation of any of the provisions is a class 1 misdemeanor. Authorizes the department of revenue to confiscate and destroy tobacco for sale at wholesale or retail that is marked for use outside of the United States.
APPROVED by Governor March 24, 1999
EFFECTIVE March 24, 1999
H.B. 99-1237 Income tax - expansion of taxable income modification for capital gains to refund excess state revenues to comply with TABOR. For any income tax year commencing on or after January 1, 2000, if the amount of excess state revenues for the fiscal year immediately preceding such income tax year that the voters statewide have not authorized the state to retain and spend is at least $260 million as adjusted by the executive director of the department of revenue, expands the existing modification to Colorado taxable income that excludes capital gains earned on Colorado real or tangible personal property or ownership interests in Colorado businesses held for 5 years or more and acquired on or after May 9, 1994, to exclude capital gains earned on personal property or ownership interests acquired before May 9, 1994.
For any calendar year commencing on or after January 1, 2000, requires the executive director of the department of revenue to adjust annually the amount of the threshold for allowing the exclusion of capital gains on Colorado personal property and ownership interests in Colorado businesses acquired before May 9, 1994, to reflect the rate of growth of Colorado personal income for the immediately preceding calendar year. Requires the executive committee of the legislative council to review and approve or disapprove such adjustment, and specifies procedures to be followed in connection with such review.
Requires the state controller to certify the amount of excess state revenues for any given fiscal year by a specified date. Requires the state auditor to audit such annual certification of the amount of excess state revenues by a specified date
APPROVED by Governor June 3, 1999
EFFECTIVE August 4, 1999
NOTE: This act shall 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 that is allowed for submitting a referendum petition pursuant to article V, section
1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of
this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date
of the official declaration of the vote thereon by proclamation of the governor.
H.B. 99-1244 Property tax - period for obtaining valuation data for taxable real property. Changes the period of time used to determine the level of value for a class of taxable real property when adequate comparable valuation data is not available for the 1½-year period prior to July 1 immediately preceding any regular biennial property tax assessment date from 5 years to such 1½-year period, the 6-month period immediately preceding such 1½-year period, and as many preceding 6-month periods within the 5-year period immediately prior to July 1 immediately preceding the assessment date as are necessary to obtain adequate comparable valuation data.
APPROVED by Governor March 31, 1999
EFFECTIVE August 4, 1999
NOTE: This act shall 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 that is allowed for submitting a referendum petition pursuant to article V, section
1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of
this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date
of the official declaration of the vote thereon by proclamation of the governor.
H.B. 99-1246 Income tax - credit for long-term care insurance. Creates a state income tax credit for resident individuals who purchase long-term care insurance. Establishes the amount of the credit at 25% of the amount paid by the taxpayer for the insurance during the taxable year for which the credit is claimed, with a maximum credit of $150 for each long-term care insurance policy purchased by the taxpayer. Provides that the credit shall be allowed only to individuals filing a single return with a federal taxable income of less than $50,000, 2 individuals filing a joint return with a federal taxable income of less than $50,000 if claiming the credit for one long-term care insurance policy, or 2 individuals filing a joint return with a federal taxable income of less than $100,000 if claiming the credit for 2 such policies. Prohibits the credit from being carried forward and provides that any unused portion of the credit shall not be refunded to the taxpayer.
APPROVED by Governor June 3, 1999
EFFECTIVE August 4, 1999
NOTE: This act shall 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 that is allowed for submitting a referendum petition pursuant to article V, section
1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of
this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date
of the official declaration of the vote thereon by proclamation of the governor.
H.B. 99-1249 Severance tax - exemptions - investment income from revenues. For metallic minerals, increases the amount of gross income of a mining operation that is exempt from the severance tax from $11 million to $19 million. Creates an exemption from the severance tax for the first 625,000 tons of molybdenum ore that is mined quarterly. Increases the amount of coal that may be produced quarterly before the severance tax is imposed from 8,000 tons to 300,000 tons.
Specifies that all income derived from the deposit and investment of moneys in the severance tax trust fund and the local government severance tax fund shall remain in such funds.
APPROVED by Governor May 24, 1999
EFFECTIVE May 24, 1999
H.B. 99-1267 Uranium mill tailings remedial action program - extension. Extends until July 1, 2002, the uranium mill tailings remedial action program currently scheduled to expire July 1, 1999.
APPROVED by Governor March 31, 1999
EFFECTIVE March 31, 1999
H.B. 99-1271 Sales and use tax exemption - clean fuel vehicles - eligibility of clean fuel fleet program vehicles for income tax credit or rebate. Creates a state sales and use tax exemption for the sale, storage, use or consumption of motor vehicles, motor vehicle power sources, or parts used for converting power sources for motor vehicles that meet specified emissions standards. Specifies a minimum weight for the motor vehicles to qualify for the exemption. Excepts local governments from granting the exemption.
Repeals the existing statutory provision prohibiting a person or qualified entity covered by the clean fuel fleet program from claiming an alternative fuels income tax credit or an alternative fuels rebate.
Applies to the sale, storage, use, or consumption of motor vehicles on and after July 1, 1999.
APPROVED by Governor May 28, 1999
EFFECTIVE May 28, 1999
H.B. 99-1311 State taxes - credit based on business personal property taxes to refund excess state revenues to comply with TABOR - appropriation. For state fiscal years commencing on or after July 1, 1998, establishes a credit against state taxes to refund state revenues that exceed the limitation on state fiscal year spending imposed by the state constitution (TABOR) to qualified taxpayers. Defines a "qualified taxpayer" as a natural person, C corporation, partnership, limited liability company that is not a C corporation, or an S corporation that:
Requires that the amount of state revenues for the state fiscal year exceed the limitation on state fiscal year spending imposed by TABOR by $170 million or more before the credit against state taxes is allowed. Requires the executive director of the department of revenue to annually adjust this dollar amount to reflect the rate of growth of Colorado personal income for the immediately preceding calendar year. Requires the executive committee of the legislative council to review and approve or disapprove such adjustment, and specifies procedures to be followed in connection with such review.
Establishes an amount of such credit equal to the lesser of $500 or the total amount of personal property tax paid by the qualified taxpayer in the state fiscal year for which the credit is being claimed. Establishes an additional credit against state taxes for each qualified taxpayer that paid more than $500 in personal property tax in the state fiscal year for which the credit is being claimed in an amount equal to 13.37% of the amount of personal property tax paid by the qualified taxpayer that exceeds $500. Requires each qualified taxpayer to file a form prescribed by the department of revenue and proof of payment of the total personal property taxes paid by the qualified taxpayer with the department of revenue no later than January 31 of the state fiscal year in which a credit against state taxes is allowed; except, for the state fiscal year commencing July 1, 1999, requires such filing no later than August 31, 1999.
Requires the department of revenue to refund the credit against state taxes to each qualified taxpayer. Provides that if the amount of state revenues actually refunded during any given state fiscal year through the credit against state taxes or any other mechanism to refund excess state revenues exceeds the amount of state revenues in excess of the limitation on state fiscal year spending for the immediately preceding fiscal year required to be refunded, then an amount equal to the difference between the amount of state revenues actually refunded and the amount of state revenues from the immediately preceding fiscal year required to be refunded shall be a refund of state revenues in excess of the limitation on state fiscal year spending for the fiscal year in which said state revenues were refunded.
Requires the state controller to certify the amount of excess state revenues for any given fiscal year by a specified date. Requires the state auditor to conduct an audit of the certified amount of excess state revenues by a specified date.
Appropriates $204,648 and 0.7 FTE to the department of revenue for implementation of the act. Makes adjustments to the 1999 long bill for the capital construction fund and the department of transportation.
APPROVED by Governor June 3, 1999
EFFECTIVE August 4, 1999
NOTE: This act shall 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 that is allowed for submitting a referendum petition pursuant to article V, section
1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of
this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date
of the official declaration of the vote thereon by proclamation of the governor.
H.B. 99-1323 Sales tax - refund - refunds disallowed for 1996-97 fiscal year - unrefunded excess state revenues. For purposes of refunding excess state revenues for the 1996-97 fiscal year to certain qualified individuals who, pursuant to a rule of the department of revenue, were not allowed the refund because of the failure to pay all or any portion of the qualified individual's net income tax liability due prior to a certain date:
Requires the addition to the excess state revenues for the 1998-99 fiscal year of any amount of excess state revenues for the 1996-97 fiscal year that are required to be refunded but that are not refunded.
For any amount of excess state revenues for the 1997-98 fiscal year and for every fiscal year thereafter that are required to be refunded but that are not refunded, requires those unrefunded excess state revenues be added to and refunded with the excess state revenues for the following fiscal year that are to be refunded.
APPROVED by Governor June 3, 1999
EFFECTIVE June 3, 1999
H.B. 99-1335 Sales and use tax - refund - tangible personal property to be used in Colorado for biotechnological purposes. For calendar years commencing on and after January 1, 1999, establishes a refund for qualified taxpayers of all state sales and use tax paid during a given calendar year for the purchase, storage, use, or consumption of tangible personal property to be used in Colorado directly and predominately in research and development of biotechnology. Defines a "qualified taxpayer" as a C corporation, partnership, limited liability company that is not a C corporation, S corporation, or sole proprietorship that purchases, stores, uses, or consumes tangible personal property to be used in Colorado directly and predominately in research and development of biotechnology. Also defines "biotechnology","research and development", and "tangible personal property".
Requires the refund to be claimed no earlier than January 1 and no later than April 1 of the calendar year following the calendar year for which the refund is claimed. To obtain the refund, specifies that the qualified taxpayer must file a form prescribed by the department of revenue, provide such additional information as the department may require, and shall also submit proof of payment of the total state sales and use tax paid.
APPROVED by Governor May 17, 1999
EFFECTIVE May 17, 1999
H.B. 99-1339 Property tax - exemption of child care centers affiliated with not-for-profit schools - classification as school. For property tax years commencing on or after January 1, 1999, expands the property tax exemption for not-for-profit private schools by modifying the definition of "school" to include any licensed child care center operated by and as an integral part of a not-for-profit educational institution that requires daily attendance and has a curriculum comparable to that of a public elementary or secondary school or college. Specifies that an educational institution that maintains hours of operation in excess of the minimum hour requirements for public elementary and secondary schools may be classified as a "school" for property tax purposes.
APPROVED by Governor June 3, 1999
EFFECTIVE June 3, 1999
H.B. 99-1345 Income tax - credit for qualified costs incurred in the preservation of historic properties. Extends through January 1, 2010, the state income tax credit, currently scheduled to expire January 1, 2000, for qualified costs incurred in the preservation of historic properties. Increases the income tax liability carry forward period from 5 to 10 years.
To conform with the January 1, 2010, extension date, adjusts certain deadlines affecting the amount of the tax credit allowed for rehabilitation projects that receive preliminary approval, but are not completed, prior to January 1, 2010.
Removes the limitation on claiming the tax credit for taxpayers who receive a federal income tax credit for the same project. Authorizes the reviewing entity to reduce or eliminate the fees for small rehabilitation projects. Permits certification of rehabilitations commenced prior to submitting an application where acceptable documentation exists of property conditions prior to rehabilitation.
Clarifies that, when more than one taxpayer qualifies for the tax credit, the amount of the tax credit shall be divided pro rata unless a binding agreement is on file with the appropriate reviewing entity that specifies a different method for allocating the credit.
Applies to the restoration, rehabilitation, or preservation of historic properties commenced on or after the effective date of this act.
APPROVED by Governor June 3, 1999
EFFECTIVE June 3, 1999
H.B. 99-1377 Sales and use tax - exemption - veterans' organizations. Amends the definition of "charitable organization" for purposes of state sales and use taxation to include any veterans' organization registered under section 501 (c) (19) of the federal internal revenue code for the purpose of sponsoring a special event, meeting, or other function in the state of Colorado so long as such event, meeting, or function is not part of that organization's regular activities.
Specifies that any veterans' organization that qualifies as a charitable organization is exempt from state sales and use tax only for the purpose of sponsoring a special event, meeting, or other function that is not part of the organization's regular activities.
APPROVED by Governor June 3, 1999
EFFECTIVE June 3, 1999
H.B. 99-1381 Sales and use tax - exemption - pesticides. Exempts from the state sales and use tax pesticides registered for use in the production of agricultural and livestock products and sold through licensed pesticide dealers. Requires the commissioner of agriculture to advise the house and senate agriculture committees regarding the effectiveness of the exemption in making Colorado pesticide dealers more competitive with pesticide dealers from bordering states where pesticides are not subject to sales and use tax. Requires the commissioner to also make recommendations to said committees regarding the elimination of the sales and use tax on other agricultural compounds used in the production of agricultural and livestock products. Allows municipalities and counties to impose sales tax on the pesticides exempted from the state sales and use tax.
APPROVED by Governor June 3, 1999
EFFECTIVE July 1, 1999
H.B. 99-1383 Income tax - earned income tax credit to refund excess state revenues to comply with TABOR - approrpriation. For any income tax year commencing on or after January 1, 1999, if the amount of excess state revenues for the fiscal year that ends in such income tax year that voters have not authorized the state to retain and spend is $50 million or more, allows an earned income tax credit for resident or part-year resident individuals who claim a federal earned income tax credit. For any calendar year commencing on or after January 1, 2000, requires the executive director of the department of revenue to annually adjust the threshold amount of state excess revenues required for allowing the earned income tax credit to reflect the rate of growth of Colorado personal income for the immediately preceding calendar year. Requires the executive committee of the legislative council to review and approve or disapprove the adjustment, and specifies procedures to be followed in connection with such review. Requires the executive director to publish any earned income tax credit allowed in rules and to include the credit on income tax forms for the applicable income tax year.
For a resident individual, sets the amount of the credit at 8.5% of the amount of the federal earned income tax credit. For a part-year resident, sets the amount of the credit at 8.5% of the amount of the federal earned income tax credit earned while a resident of Colorado. Requires any earned income tax credit that exceeds an eligible individual's income tax liability to be refunded to the individual. Specifies that if the amount of state excess revenues actually refunded through one or more refund mechanisms during any given fiscal year exceeds the amount of state excess revenues for the immediately preceding fiscal year that are required to be refunded, the additional moneys refunded shall be deemed a refund of excess state revenues for the fiscal year in which such moneys were refunded.
Requires the state controller to certify the amount of excess state revenues for any given fiscal year by a specified date. Requires the state auditor to audit the certification of excess state revenues by a specified date.
Appropriates of $64,922 to the department of revenue, information technology division, for implementation of the act.
APPROVED by Governor June 3, 1999
EFFECTIVE June 3, 1999
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