S.B. 02-87 Income tax - Colorado watershed protection fund voluntary contribution. Requires that, for income tax years commencing on or after January 1, 2002, but prior to January 1, 2005, a voluntary contribution designation line for the Colorado watershed protection fund shall appear on individual income tax return forms. Creates the Colorado watershed protection fund in the state treasury.
Directs the department of revenue to determine annually the total amount designated to the Colorado watershed protection fund and to report such amount to the state treasurer and to the general assembly. Directs the state treasurer to credit such amount to the fund.
Requires the general assembly to appropriate annually from the Colorado watershed protection fund to the department of revenue its costs of administering moneys designated as contributions to the fund. States that all moneys remaining in the fund at the end of a fiscal year shall be transferred to the Colorado water conservation board in the department of natural resources. Directs 2 designees of the board and 2 designees of the water quality control commission in the department of public health and environment to administer the moneys in the fund, in consultation with the Colorado watershed assembly, a nonprofit
corporation.
States that the Colorado water conservation board and the water quality control commission shall use the moneys to award grants to qualified residents of Colorado to work toward the restoration and protection of land and natural resources within watersheds in Colorado. Specifies that such grant moneys shall not be used for lobbying or for any other political purpose, the costs of litigation, or to remove any diversion or improvement structure.
APPROVED by Governor June 3, 2002
EFFECTIVE August 7, 2002
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
S.B. 02-157 Property tax - possessory interests. Specifies that the property tax on a possessory interest in real or personal property that is exempt from taxation shall be assessed to the holder of the possessory interest and collected in the same manner as property taxes assessed to owners of real or personal property. States that such property tax shall not become a lien against the property but rather a debt due from the holder of the possessory interest to the taxing authority. Authorizes the taxing authority to recover such taxes due by direct action in debt.
Provides that neither the assessor nor the treasurer shall treat any possessory interest in exempt property as taxable property omitted from the tax list and warrant for any property tax year prior to 2001.
Repeals provisions regarding taxation of possessory interests that were declared unconstitutional by the Colorado supreme court.
Makes the act applicable to property tax years commencing on or after January 1, 2001.
APPROVED by Governor June 1, 2002
EFFECTIVE August 7, 2002
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
S.B. 02-201 Colorado commission on taxation - extension of time to complete duties - qualifications and reappointment for members - center for state and local government fiscal analysis. Extends the time within which the Colorado commission on taxation has to complete its duties and provide a final report to the governor and the general assembly. Specifies additional qualifications for members of the commission and requires reappointment of members based on such qualifications.
Requires the Colorado commission on taxation to make recommendations regarding the creation of a center for state and local government fiscal analysis, including the structure, financing, and time required to establish the center. Requires the commission to create a business plan for the center and conduct initial fundraising efforts to establish the center.
VETOED by Governor May 24, 2002
S.B. 02-218 Sales tax - TABOR refund mechanism - repeal of 105% overrefund requirement. Repeals the requirement that the state sales tax refund mechanism used to refund excess state revenues as required by section 20 of article X of the state constitution (Taxpayer's Bill of Rights) be calculated to refund 105% of the amount of excess state revenues required to be refunded that are not refunded by other refund mechanisms.
APPROVED by Governor June 1, 2002
EFFECTIVE June 1, 2002
H.B. 02-1008 Uranium mill tailings remedial action program fund oversight committee - extension of repeal date. Extends the repeal date for the uranium mill tailings remedial action program fund oversight committee until July 1, 2007.
APPROVED by Governor March 27, 2002
EFFECTIVE March 27, 2002
H.B. 02-1057 Sales tax - rate for truck sales - timing and allowance of excess revenue refund mechanism. Allows the excess state revenue refund mechanism that reduces the state sales tax rate on specified trucks to be implemented annually based upon the March revenue estimate of legislative council staff rather than the June revenue estimate. Modifies existing statutory provisions to allow the existence and the adjusted amount of excess revenues required to trigger the refund mechanism for a given state fiscal year to be determined before the sales tax rate is reduced.
APPROVED by Governor April 19, 2002
EFFECTIVE April 19, 2002
H.B. 02-1059 Income tax - credit for contributions to Colorado institute of technology - delay implementation - clarify amount of allowable credit - certification of contribution. Corrects the name of the institute to which Colorado taxpayers are to make monetary contributions in order to qualify for an income tax credit by changing the name from the nonexistent Colorado institute for telecommunication education to the Colorado institute of technology. Delays implementation of the income tax credit until income tax years commencing on or after January 1, 2002, instead of January 1, 2001, and retains the priority of the credit in relation to other income tax credits that are mechanisms to refund excess state revenues.
Clarifies the amount of the credit that may be claimed by a taxpayer. Requires the Colorado institute of technology to issue a certification to taxpayers who make donations to the institute and to provide a list of all such certifications, including the amount of the donation, to the department of revenue on a monthly basis. Requires taxpayers claiming the credit to submit the certification with their income tax return.
APPROVED by Governor April 5, 2002
EFFECTIVE April 5, 2002
H.B. 02-1076 Tax refund offset - prerequisites - hearing by controller. Allows a tax refund offset for a debt that has been determined to be owing to a state-supported institution of higher education (institution), the student loan division of the department of higher education (student loan division), and the Colorado student obligation bond authority division of the department of higher education (CSOBA) by a judicial decision or a final agency determination by such entity. Allows CSOBA to claim a tax refund offset if the debt has been reduced to judgment. Requires that a debtor be afforded his or her due process rights prior to a final agency determination for debts owed to an institution, the student loan division, or CSOBA.
Permits an institution, the student loan division, and CSOBA to certify to the department of revenue information about debtors who have been the subject of a final agency determination or judicial decision so that the institution may receive a disbursal of a debtor's tax refund offset. Permits CSOBA to certify information about debtors whose debt has been reduced to judgment.
Prohibits a debtor at a tax refund offset hearing before the state controller from contesting the validity of a debt owed, if the referring state agency certifies to the controller that the debt was previously the subject of a final agency determination, judicial decision, or judgment.
APPROVED by Governor March 26, 2002
EFFECTIVE August 7, 2002
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
H.B. 02-1085 Property tax - notice of objection to valuation - deadlines. Standardizes deadlines for taxpayers to give notice to property tax assessors in writing or in person of their objection to valuations of taxable real property. Applies to property tax years beginning on or after January 1, 2003.
APPROVED by Governor March 21, 2002
EFFECTIVE August 7, 2002
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
H.B. 02-1098 Income tax - credit for conservation easement - compliance with federal law. Requires a conservation easement for which a state income tax credit is claimed to be eligible to qualify as a qualified conservation contribution pursuant to the federal internal revenue code and federal regulations. Specifies that a taxpayer who claims a credit for a conservation easement contrary to law shall be liable for such deficiencies, interest, and penalties as are provided by law.
APPROVED by Governor May 24, 2002
EFFECTIVE August 7, 2002
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
H.B. 02-1160 Income tax - United States olympic committee voluntary contribution. Reestablishes that the voluntary contribution designation line for the United States olympic committee shall appear on Colorado state individual income tax return forms for income tax years commencing on or after January 1, 2002, but prior to January 1, 2005.
Specifies that the United States olympic committee voluntary contribution designation program shall not be continued if, beginning January 1, 2003, and ending September 30, 2004, the aggregate amount designated on Colorado income tax returns for the United States olympic committee does not equal or exceed 10% of the aggregate amount contributed to all checkoffs during such period.
APPROVED by Governor May 20, 2002
EFFECTIVE August 7, 2002
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
H.B. 02-1161 Enterprise zones - maximum population - public access to information - contributions to promote community development - entities not taxed as corporations - enhanced rural enterprise zones - designation criteria - termination - additional tax credit. Increases the maximum population of an area proposed for designation as an enterprise zone from 80,000 to 100,000 for rural areas.
States that information provided by companies claiming enterprise zone credits shall be considered public records. Requires enterprise zone administrators to preserve such information for 5 years and make it available to the public.
Requires that the portion of any county within a designated enterprise zone be designated as an enhanced rural enterprise zone if the county that contains the area to be designated meets 2 or more of the following criteria:
Requires the executive director of the department of local affairs to determine whether each county meets the criteria. Requires the executive director to produce a list of eligible counties.
States that counties that no longer meet the criteria are terminated as enhanced rural enterprise zones. Preserves tax benefits earned while a county had enhanced rural enterprise zone status. Requires the executive director of the department of local affairs to establish procedures to allow credits to taxpayers who took actions in reliance on agreements for long-term investments in enhanced rural enterprise zones.
Allows taxpayers who have planned business activities in enterprise zones and enhanced rural enterprise zones that are terminated to claim tax credits.
States that for income tax years commencing on or after January 1, 2003, contributions to promote nonprofit or government-funded community development projects in enterprise zones shall qualify for the 50% tax credit for contributions to implement the economic development plan of an enterprise zone.
For income tax years commencing on or after January 1, 2003, allows taxpayers who establish new business facilities in an enhanced rural enterprise zone to take a $2,000 income tax credit for each new business facility employee working in the enhanced rural enterprise zone, in addition to the existing enterprise zone credit. Allows such taxpayers who manufacture or process agricultural commodities to take an additional $500 tax credit for each such employee.
Permits enhanced rural enterprise zone tax credits to be carried forward for up to 7 years.
Permits partnerships, S corporations, limited liability companies, and other entities electing not to be taxed as corporations to pass through enterprise zone credits to their investors.
Applies to tax years commencing on or after August 7, 2002.
APPROVED by Governor June 3, 2002
EFFECTIVE August 7, 2002
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
H.B. 02-1176 Income tax - court appointed special advocates voluntary contribution. Creates the Colorado court-appointed special advocates (CASA) fund in the state treasury.
Requires that, for income tax years commencing on or after January 1, 2002, but prior to January 1, 2005, a voluntary contribution designation line for the Colorado court-appointed special advocates (CASA) fund shall appear on individual income tax return forms.
Directs the department of revenue to determine annually the total amount designated to the Colorado court-appointed special advocates (CASA) fund and to report such amount to the state treasurer and to the general assembly. Directs the state treasurer to credit such amount to the fund.
Requires the general assembly to appropriate annually from the Colorado court-appointed special advocates (CASA) fund to the department of revenue its costs of administering moneys designated as contributions to the fund. States that all moneys remaining in the fund at the end of a fiscal year shall be transferred to the Colorado court-appointed special advocates (CASA), a Colorado nonprofit agency.
Makes legislative findings and declarations.
APPROVED by Governor May 13, 2002
EFFECTIVE May 13, 2002
H.B. 02-1208 Sales tax - mobile telecommunications service - limitations - compliance with federal law - resolution of disputes. Specifies that, in accordance with the federal "Mobile Telecommunications Sourcing Act" (federal act), mobile telecommunications service taxable by local government on or after August 1, 2002, may be subject to any local government sales tax or other charge only if the customer's place of primary use is within the geographical boundaries of the local government.
Specifies that, in accordance with the federal act, on or after August 1, 2002, the state may only impose a sales tax on mobile telecommunications service that is provided to a customer whose place of primary use is within Colorado and that originates and terminates within the same state. Specifies that in accordance with the federal act, on or after August 1, 2002, mobile telecommunications service provided to a customer whose place of primary use is outside the borders of the state of Colorado is exempt from Colorado sales tax.
Requires any customer that disputes the imposition of a state or local government tax, fee, or charge on the customer's mobile telecommunications service bill, or disputes the designation of place of primary use or taxing jurisdiction, to first notify the service provider prior to pursuing legal action. Requires the service provider to make a determination on the customer's complaint within a specified time and to either refund or credit any erroneous tax, fee, or charge, or notify the customer in writing if the service provider determines that no error was made.
APPROVED by Governor April 12, 2002
EFFECTIVE April 12, 2002
H.B. 02-1211 Deficiencies - hearing - waiver - final determination. Allows a taxpayer to waive a hearing before the executive director of the department of revenue (executive director) and appeal a notice of tax deficiency directly to the district court if the taxpayer and the executive director agree that the disposition of the case requires the resolution of a question of constitutional law.
Authorizes the executive director to designate a qualified person within the department to specifically hear a case when a disputed income tax deficiency is more than $200 and involves an income tax.
Requires the executive director to make a final determination on a disputed tax deficiency within 60 days of the hearing on the deficiency. Allows the deadline to be extended by up to 60 days by mutual agreement of the executive director and the taxpayer. Further allows the deadline to be extended by the executive director in the executive director's discretion if the final determination raises issues that require additional information or time to analyze. Allows successive extensions by the executive director, but limits each extension to 60 days and requires written notice specifying the reasons for each extension to be mailed to the taxpayer.
APPROVED by Governor April 12, 2002
EFFECTIVE July 1, 2002
H.B. 02-1219 Income tax - frivolous returns - penalties. Defines "frivolous return" and assesses a civil penalty to a person for filing such a return. Allows the executive director of the department of revenue to calculate an individual's Colorado taxable income and make an assessment based on such information as is available at the time the return is filed. Assesses a civil penalty to an employer who fails to provide a copy of any withholding certificate signed by an employee to the executive director.
APPROVED by Governor May 24, 2002
EFFECTIVE August 7, 2002
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
H.B. 02-1241 Property tax - property tax deferral program - state loans to taxpayers - reduction in appropriation. Requires the state treasurer to loan money to a taxpayer participating in the property tax deferral program (program) in an amount equal to the taxpayer's deferred property taxes, and to disburse the loan directly to the county treasurer collecting the tax. Requires the loan to be made from moneys on deposit in the state treasury that are not immediately required to be disbursed and that the interest payments be credited to the general fund. Maintains the current interest rates from the program for the loans. Establishes that all past deferred real property tax paid by the state treasurer pursuant to the program shall be reclassified as an investment in a loan to a taxpayer. Repeals the limitation on how the state treasurer accounts for deferred tax certificates and the accrued interest thereon.
Reduces the appropriation to the department of treasury by $382,878 for the 2002-03 fiscal year.
APPROVED by Governor May 24, 2002
EFFECTIVE July 1, 2002
H.B. 02-1265 Clarification that certain real property is residential for purposes of property taxation. Clarifies the status of certain real property as residential real property by specifying that for purposes of property taxation hotels and motels, which are subject to the 29% nonresidential real property assessment rate rather than the lower residential real property assessment rate, do not include:
Specifies the manner in which the allocation of property tax liability among multiple owners with respect to any hotel unit in which a non-hotel unit owner owns a time share estate, time share use period, undivided interest, or partial ownership interest is to be determined. Defines terms.
Makes the act applicable to the taxation of residential units for property tax years commencing on or after January 1, 2002.
APPROVED by Governor June 7, 2002
EFFECTIVE August 7, 2002
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
H.B. 02-1288 Property tax - exemption hearings - property underlying newly constructed taxable buildings - comparable properties for market approach - interest refunds for erroneously paid personal property tax. Establishes September 15 of each year as the deadline for an individual to request a hearing on the denial of a property tax exemption as a qualifying senior. Allows the county board of equalization to appoint independent referees to conduct such hearings. Requires an assessor to forward a report about the property tax exemptions for qualifying seniors to the property tax administrator no later than October 10 of each year.
Requires that the land underlying a newly constructed taxable building be assessed as residential land, and that such change be noted on the abstract of assessment for the tax year in which the assessor added the valuation of the building to such abstract.
If the market approach to valuation is used, creates a rebuttable presumption against using a residential property that was converted to a different residential use as a comparable sale for establishing the value of a property having a similar prior residential use.
Requires that any refund of taxes or delinquent interest that is required to be paid to an appellant as a result of an order or judgment of the board of assessment appeals or the district court shall be paid to the appellant even if the appellant is not the current owner of the property.
Establishes that a county is no longer responsible for refund interest on taxes erroneously levied and collected as a result of an error made by the taxpayer in completing a personal property schedule.
APPROVED by Governor May 30, 2002
EFFECTIVE August 7, 2002
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
H.B. 02-1358 Property tax - bed and breakfast. Defines "bed and breakfast" as used in the property tax statutes to mean an overnight lodging establishment, whether owned by a natural person or any legal entity, that is a residential dwelling unit or an appurtenance thereto, in which an innkeeper resides, or that is a building designed but not necessarily occupied as a single family residence that is next to, or directly across the street from, the innkeeper's residence, and in either circumstance, in which:
Defines "commercial lodging area" to mean a guest room or bathroom within a bed and breakfast that is offered for the exclusive use of paying guests on a nightly or weekly basis, and "innkeeper" to mean the owner, operator, or manager of a bed and breakfast.
Establishes the following method for assessing a bed and breakfast:
APPROVED by Governor June 7, 2002
EFFECTIVE January 1, 2003
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
H.B. 02-1364 Special fuel tax - gasoline tax - refund or credit - procedures and requirements. Requires the department of revenue (department) to refund or credit tax paid on special fuel that is lost or destroyed. Requires the department to refund tax on special fuel that is erroneously paid. Requires the department to refund or credit tax paid on special fuel that is purchased and used exclusively by certain governmental entities.
Requires the department to refund tax paid for gasoline or special fuel for certain uses that do not involve the operation of a motor vehicle upon the highways of this state. Limits such refund to purchases of gasoline or special fuel in quantities greater than twenty gallons. Requires the executive director of the department to calculate such refund in accordance with industry-specific percentages of exempt fuel use that can be justified based on the following:
Requires the executive director of the department to promulgate rules to establish such industry-specific percentages.
Establishes the procedural requirements for claiming a refund for tax paid on gasoline or special fuel. Establishes the criminal penalties for making a false claim to a refund for tax paid on gasoline or special fuel.
Eliminates the use of a metering device on a vehicle equipped with a power take-off unit for purposes of claiming a refund for tax paid on gasoline.
APPROVED by Governor May 24, 2002
EFFECTIVE May 24, 2002
H.B. 02-1399 Incentives for businesses - extension of maximum term - enterprise zones. Increases the maximum term for which a school district board of education, county, or municipality may negotiate a business incentive agreement with a taxpayer who establishes a new business facility from 4 years to 10 years. Requires a school district board of education to have a proposed business incentive agreement reviewed by the Colorado economic development commission before entering into the business incentive agreement.
Repeals a statutory provision that requires the creation and review of a plan establishing criteria, procedures, and a schedule for the termination of enterprise zones or portions thereof that no longer meet specified criteria. Extends the period for which a taxpayer who meets specified criteria may claim specified enterprise zone tax benefits following the termination of an enterprise zone from 5 years to 10 years.
APPROVED by Governor June 3, 2002
EFFECTIVE June 3, 2002
H.B. 02-1401 Unemployment tax - tax credit. Continues indefinitely a credit of 20% for qualified employers against certain unemployment insurance taxes.
APPROVED by Governor June 1, 2002
EFFECTIVE August 7, 2002
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi
of this digest.
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