Colorado 2022 Regular Session

Colorado Senate Bill SB238 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
	1	+	Second Regular Session
	2	+	Seventy-third General Assembly
	3	+	STATE OF COLORADO
	4	+	REENGROSSED
	5	+	This Version Includes All Amendments
	6	+	Adopted in the House of Introduction
	7	+	LLS NO. 22-1041.02 Pierce Lively x2059
1	8		SENATE BILL 22-238
2		-	BY SENATOR(S) Hansen and Rankin, Bridges, Buckner, Danielson,
3		-	Fields, Hinrichsen, Jaquez Lewis, Kolker, Lee, Moreno, Pettersen,
4		-	Rodriguez, Story, Winter, Fenberg;
5		-	also REPRESENTATIVE(S) Weissman and Neville, Amabile, Baisley,
6		-	Benavidez, Bernett, Bird, Bockenfeld, Carver, Cutter, Daugherty, Duran,
7		-	Esgar, Exum, Froelich, Geitner, Gonzales-Gutierrez, Hooton, Jodeh,
8		-	Lindsay, Lontine, Luck, McCormick, McKean, Michaelson Jenet, Mullica,
9		-	Ortiz, Pelton, Pico, Ransom, Ricks, Sandridge, Snyder, Soper, Sullivan,
10		-	Titone, Van Beber, Van Winkle, Will, Williams, Young, Garnett.
	9	+	Senate Committees House Committees
	10	+	Appropriations
	11	+	A BILL FOR AN ACT
11	12		C
12		-	ONCERNING REDUCTIONS IN REAL PROPERTY TAXATION FOR ONLY THE
13		-	2023 AND 2024 PROPERTY TAX YEARS , AND, IN CONNECTION
14		-	THEREWITH
15		-	, REDUCING THE ASSESSMENT RATES FOR CERTAIN
16		-	CLASSES OF NONRESIDENTIAL PROPERTY AND ALL RESIDENTIAL
17		-	PROPERTY AND THE AMOUNT OF ACTUAL VALUE TO WHICH THE RATE
18		-	IS APPLIED FOR ALL RESIDENTIAL REAL PROPERTY AND COMMERCIAL
19		-	PROPERTY FOR
20		-	2023; REDUCING THE ASSESSMENT RATES FOR ALL
21		-	MULTI
22		-	-FAMILY RESIDENTIAL REAL PROPERTY TO A SET AMOUNT FOR
23		-	2024; REDUCING THE ASSESSMENT RATES FOR ALL RESIDENTIAL REAL
24		-	PROPERTY OTHER THAN MULTI
25		-	-FAMILY RESIDENTIAL REAL PROPERTY
26		-	FOR
27		-	2024 BY AN AMOUNT DETERMINED BY THE PROPERTY TAX
28		-	ADMINISTRATOR TO CUMULATIVELY WITH THE OTHER PROVISIONS OF
29		-	THE BILL REDUCE STATEWIDE PROPERTY TAX REVENUE FOR
30		-	2023 AND
31		-	NOTE: This bill has been prepared for the signatures of the appropriate legislative
32		-	officers and the Governor. To determine whether the Governor has signed the bill
33		-	or taken other action on it, please consult the legislative status sheet, the legislative
34		-	history, or the Session Laws.
35		-	________
36		-	Capital letters or bold & italic numbers indicate new material added to existing law; dashes
37		-	through words or numbers indicate deletions from existing law and such material is not part of
38		-	the act. 2024 BY A SPECIFIED AMOUNT; REDUCING THE ASSESSMENT RATES
39		-	FOR REAL AND PERSONAL PROPERTY THAT IS CLASSIFIED AS
40		-	AGRICULTURAL OR RENEWABLE ENERGY PRODUCTION PROPERTY FOR
41		-	2024; AND REQUIRING THE STATE TO REIMBURSE LOCAL
42		-	GOVERNMENTS
43		-	, EXCLUDING SCHOOL DISTRICTS, IN 2024 FOR 2023
44		-	REDUCTIONS IN THEIR PROPERTY TAX REVENUE RESULTING FROM THE
45		-	BILL
46		-	.
47		-	Be it enacted by the General Assembly of the State of Colorado:
48		-	SECTION 1. In Colorado Revised Statutes, 39-1-104, amend (1),
49		-	(1.8)(a), and (1.8)(b) as follows:
50		-	39-1-104. Valuation for assessment - definitions. (1) (a) The
51		-	valuation for assessment of all taxable property in the state shall be
52		-	twenty-nine percent of the actual value thereof as determined by the
53		-	assessor and the administrator in the manner prescribed by law, and such
54		-	THAT percentage shall be uniformly applied, without exception, to the actual
55		-	value, so determined, of the real and personal property located within the
56		-	territorial limits of the authority levying a property tax, and all property
57		-	taxes shall be levied against the aggregate valuation for assessment
58		-	resulting from the application of such
59		-	THAT percentage.
	13	+	ONCERNING REDUCTIONS IN REAL PROPERTY TAXATION FOR ONLY101
	14	+	THE 2023 AND 2024 PROPERTY TAX YEARS, AND, IN CONNECTION102
	15	+	THEREWITH, REDUCING THE ASSESSMENT RATES FOR CERTAIN103
	16	+	CLASSES OF NONRESIDENTIAL PR OPERTY AND ALL RESIDENTIAL104
	17	+	PROPERTY AND THE AMOUNT OF ACTUAL VALUE TO WHICH THE105
	18	+	RATE IS APPLIED FOR ALL RESIDENTIAL REAL PROPERTY AND106
	19	+	COMMERCIAL PROPERTY FOR 2023; REDUCING THE ASSESSMENT107
	20	+	RATES FOR ALL MULTI-FAMILY RESIDENTIAL REAL PROPERTY TO108
	21	+	A SET AMOUNT FOR 2024; REDUCING THE ASSESSMENT RATES109
	22	+	FOR ALL RESIDENTIAL REAL PROPERTY OTHER THAN110
	23	+	MULTI-FAMILY RESIDENTIAL REAL PROPERTY FOR 2024 BY AN111
	24	+	AMOUNT DETERMINED BY THE PROPERTY TAX ADMINISTRATOR112
	25	+	TO CUMULATIVELY WITH THE OTHER PROVISIONS OF THE BILL113
	26	+	SENATE
	27	+	Amended 3rd Reading
	28	+	May 4, 2022
	29	+	SENATE
	30	+	Amended 2nd Reading
	31	+	May 3, 2022
	32	+	SENATE SPONSORSHIP
	33	+	Hansen and Rankin, Bridges, Buckner, Danielson, Fenberg, Fields, Hinrichsen, Jaquez
	34	+	Lewis, Kolker, Lee, Moreno, Pettersen, Rodriguez, Story, Winter
	35	+	HOUSE SPONSORSHIP
	36	+	Weissman and Neville,
	37	+	Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
	38	+	Capital letters or bold & italic numbers indicate new material to be added to existing statute.
	39	+	Dashes through the words indicate deletions from existing statute. REDUCE STATEWIDE PROPERTY TAX REVENUE FOR 2023 AND101
	40	+	2024
	41	+	BY A SPECIFIED AMOUNT ; REDUCING THE ASSESSMENT102
	42	+	RATES FOR REAL AND PERSONAL PROPERTY THAT IS CLASSIFIED103
	43	+	AS AGRICULTURAL OR RENEWABLE ENERGY PRODUCTION104
	44	+	PROPERTY FOR 2024; AND REQUIRING THE STATE TO REIMBURSE105
	45	+	LOCAL GOVERNMENTS , EXCLUDING SCHOOL DISTRICTS , IN 2024106
	46	+	FOR 2023 REDUCTIONS IN THEIR PROPERTY TAX REVENUE107
	47	+	RESULTING FROM THE BILL .108
	48	+	Bill Summary
	49	+	(Note: This summary applies to this bill as introduced and does
	50	+	not reflect any amendments that may be subsequently adopted. If this bill
	51	+	passes third reading in the house of introduction, a bill summary that
	52	+	applies to the reengrossed version of this bill will be available at
	53	+	http://leg.colorado.gov
	54	+	.)
	55	+	For the 2023 property tax year:
	56	+	! Section 1 of the bill reduces the valuation for assessment
	57	+	of nonresidential property, excluding agricultural and
	58	+	renewable energy production nonresidential property, from
	59	+	29% of the actual value of the property to 27.9% of the
	60	+	actual value of the property;
	61	+	! Section 2 reduces the valuation for assessment of
	62	+	residential property, including multi-family residential
	63	+	property, to 6.765% of the actual value of the property; and
	64	+	! Sections 1 and 3 reduce the actual value used for purposes
	65	+	of the valuation for assessment of commercial real property
	66	+	by $30,000 and of residential real property by $15,000, but
	67	+	in either case to no less than $1,000.
	68	+	For the 2024 property tax year:
	69	+	! Section 1 continues the valuation for assessment of real
	70	+	and personal property that is classified as agricultural
	71	+	property or renewable energy production property at 26.4%
	72	+	of the actual value of the property;
	73	+	! Section 2 establishes the valuation for assessment for all
	74	+	residential real property other than multi-family residential
	75	+	real property as a percentage of the actual value of the
	76	+	property based on there being a specific modification
	77	+	determined by the property tax administrator; and
	78	+	! Section 2 also establishes the valuation for assessment for
	79	+	multi-family residential real property as 6.8% of the actual
	80	+	238-2- value of the property.
	81	+	Section 4 requires the adjustment of the ratio of valuation for
	82	+	assessment for all residential real property other than multi-family
	83	+	residential real property for the 2024 property tax year, so that the
	84	+	aggregate decrease in local government property tax revenue during the
	85	+	2023 and 2024 property tax years, as a result of the bill, equals $700
	86	+	million.
	87	+	Section 5 requires the state treasurer to reimburse counties for the
	88	+	reduction in property tax revenue resulting from the bill during the 2023
	89	+	property tax year and requires the property tax administrator to report this
	90	+	amount to the general assembly. The state treasurer is required to fully
	91	+	reimburse any county that:
	92	+	! Received an increase of less than 10% in assessed value of
	93	+	real property between the 2022 and 2023 property tax
	94	+	years; and
	95	+	! Has a population of 300,000 or less.
	96	+	The state treasurer is also required to reimburse a county 90% of the
	97	+	amount of the reduction if the county:
	98	+	! Received an increase of 10% or more in assessed value of
	99	+	real property between the 2022 and 2023 property tax
	100	+	years; and
	101	+	! Has a population of 300,000 or less.
	102	+	Lastly, the state treasurer is also required to reimburse any county that
	103	+	does not qualify for full or 90% reimbursement 65% of the amount of the
	104	+	reduction. County treasurers must then distribute these reimbursements
	105	+	to the local governmental entities, excluding school districts, within the
	106	+	treasurer's county as if the revenue had been regularly paid as property
	107	+	tax.
	108	+	For school districts, section 6 requires the state treasurer to
	109	+	transfer $200 million from the general fund to the public school fund to
	110	+	offset school district property tax revenue reductions.
	111	+	Section 5 also requires the property tax administrator to prepare
	112	+	a report that identifies the aggregate reduction in local government
	113	+	property tax revenue during the 2023 property tax year resulting from the
	114	+	bill.
	115	+	Be it enacted by the General Assembly of the State of Colorado:1
	116	+	SECTION 1. In Colorado Revised Statutes, 39-1-104, amend (1),2
	117	+	(1.8)(a), and (1.8)(b) as follows: 3
	118	+	39-1-104. Valuation for assessment - definitions. (1) (a) The4
	119	+	valuation for assessment of all taxable property in the state shall be5
	120	+	238-3- twenty-nine percent of the actual value thereof as determined by the1
	121	+	assessor and the administrator in the manner prescribed by law, and such2
	122	+	THAT percentage shall be uniformly applied, without exception, to the3
	123	+	actual value, so determined, of the real and personal property located4
	124	+	within the territorial limits of the authority levying a property tax, and all5
	125	+	property taxes shall be levied against the aggregate valuation for6
	126	+	assessment resulting from the application of such THAT percentage.7
60	127		(b) N
61		-	OTWITHSTANDING SUBSECTION (1)(a) OF THIS SECTION, FOR THE
62		-	PROPERTY TAX YEAR COMMENCING ON
63		-	JANUARY 1, 2023, THE VALUATION
64		-	FOR ASSESSMENT OF NONRESIDENTIAL PROPERTY THAT IS CLASSIFIED AS
65		-	LODGING PROPERTY IS TEMPORARILY REDUCED TO TWENTY
66		-	-SEVEN AND
67		-	NINE
68		-	-TENTHS PERCENT OF AN AMOUNT EQUAL TO THE ACTUAL VALUE MINUS
69		-	THE LESSER OF THIRTY THOUSAND DOLLARS OR THE AMOUNT THAT REDUCES
70		-	THE VALUATION FOR ASSESSMENT TO ONE THOUSAND DOLLARS
71		-	.
72		-	(c) This subsection (1) only applies to nonresidential property that
73		-	is classified as lodging property.
74		-	(1.8) (a) The valuation for assessment of real and personal property
75		-	that is classified as agricultural property or renewable energy production
76		-	property is twenty-nine percent of the actual value thereof; except that, for
77		-	property tax years commencing on January 1, 2022, and January 1, 2023,
78		-	AND JANUARY 1, 2024, the valuation for assessment of this property is
79		-	PAGE 2-SENATE BILL 22-238 temporarily reduced to twenty-six and four-tenths percent of the actual
80		-	value thereof.
81		-	(b) The valuation for assessment of all nonresidential property that
82		-	is not specified in subsection (1) or (1.8)(a) of this section is twenty-nine
	128	+	OTWITHSTANDING SUBSECTION (1)(a) OF THIS SECTION, FOR8
	129	+	THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2023, THE9
	130	+	VALUATION FOR ASSESSMENT OF NONRESIDENTIAL PROPERTY THAT IS10
	131	+	CLASSIFIED AS LODGING PROPERTY IS TEMPORARILY REDUCED TO11
	132	+	TWENTY-SEVEN AND NINE-TENTHS PERCENT OF AN AMOUNT EQUAL TO THE12
	133	+	ACTUAL VALUE MINUS THE LESSER OF THIRTY THOUSAND DOLLARS OR THE13
	134	+	AMOUNT THAT REDUCES THE VALUATION FOR ASSESSMENT TO ONE14
	135	+	THOUSAND DOLLARS.15
	136	+	(c) This subsection (1) only applies to nonresidential property that16
	137	+	is classified as lodging property.17
	138	+	(1.8) (a) The valuation for assessment of real and personal18
	139	+	property that is classified as agricultural property or renewable energy19
	140	+	production property is twenty-nine percent of the actual value thereof;20
	141	+	except that, for property tax years commencing on January 1, 2022, and
	142	+	21
	143	+	January 1, 2023,
	144	+	AND JANUARY 1, 2024, the valuation for assessment of22
	145	+	this property is temporarily reduced to twenty-six and four-tenths percent23
	146	+	of the actual value thereof.24
	147	+	(b) The valuation for assessment of all nonresidential property that25
	148	+	is not specified in subsection (1) or (1.8)(a) of this section is twenty-nine26
83	149		percent of the actual value thereof;
84		-	EXCEPT THAT, FOR THE PROPERTY TAX
85		-	YEAR COMMENCING ON
86		-	JANUARY 1, 2023, THE VALUATION FOR ASSESSMENT
87		-	OF THIS PROPERTY IS TEMPORARILY REDUCED TO
88		-	:
	150	+	EXCEPT THAT, FOR THE PROPERTY TAX27
	151	+	238
	152	+	-4- YEAR COMMENCING ON JANUARY 1, 2023, THE VALUATION FOR1
	153	+	ASSESSMENT OF THIS PROPERTY IS TEMPORARILY REDUCED TO :2
89	154		(I) F
90		-	OR ALL OF THE PROPERTY LISTED BY THE ASSESSOR UNDER ANY
91		-	IMPROVED COMMERCIAL SUBCLASS CODES
92		-	, TWENTY-SEVEN AND
93		-	NINE
94		-	-TENTHS PERCENT OF AN AMOUNT EQUAL TO THE ACTUAL VALUE MINUS
95		-	THE LESSER OF THIRTY THOUSAND DOLLARS OR THE AMOUNT THAT REDUCES
96		-	THE VALUATION FOR ASSESSMENT TO ONE THOUSAND DOLLARS
97		-	; AND
98		-	(II) TWENTY-SEVEN AND NINE-TENTHS PERCENT OF THE ACTUAL
99		-	VALUE OF ALL OTHER NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED IN
100		-	SUBSECTIONS
101		-	(1), (1.8)(a), AND (1.8)(b)(I) OF THIS SECTION.
102		-	SECTION 2. In Colorado Revised Statutes, 39-1-104.2, amend
103		-	(3)(q) and (3)(r) as follows:
104		-	39-1-104.2. Adjustment of residential rate - legislative
105		-	declaration - definitions. (3) (q) The ratio of valuation for assessment for
106		-	multi-family residential real property is 7.15 percent of actual value for
107		-	property tax years commencing on or after January 1, 2019; except that:
	155	+	OR ALL OF THE PROPERTY LISTED BY THE ASSESSOR UNDER3
	156	+	ANY IMPROVED COMMERCIAL SUBCLASS CODES , TWENTY-SEVEN AND4
	157	+	NINE-TENTHS PERCENT OF AN AMOUNT EQUAL TO THE ACTUAL VALUE5
	158	+	MINUS THE LESSER OF THIRTY THOUSAND DOLLARS OR THE AMOUNT THAT6
	159	+	REDUCES THE VALUATION FOR ASSESSMENT TO ONE THOUSAND DOLLARS ;7
	160	+	AND8
	161	+	(II) T
	162	+	WENTY-SEVEN AND NINE-TENTHS PERCENT OF THE ACTUAL9
	163	+	VALUE OF ALL OTHER NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED10
	164	+	IN SUBSECTIONS (1), (1.8)(a), AND (1.8)(b)(I) OF THIS SECTION.11
	165	+	SECTION 2. In Colorado Revised Statutes, 39-1-104.2, amend12
	166	+	(3)(q) and (3)(r) as follows:13
	167	+	39-1-104.2. Adjustment of residential rate - legislative14
	168	+	declaration - definitions. (3) (q) The ratio of valuation for assessment15
	169	+	for multi-family residential real property is 7.15 percent of actual value16
	170	+	for property tax years commencing on or after January 1, 2019; except17
	171	+	that:18
108	172		(I) For
109		-	THE property tax years commencing on January 1, 2022, ~~and~~
110		-	January 1, 2023
111		-	JANUARY 1, 2024, the ratio of valuation ~~for assessment for~~
112		-	multi-family residential real property is ~~temporarily reduced to 6.8 percent~~
113		-	of actual value;
	173	+	THE property tax years commencing on January 1, 2022,19
	174	+	and January 1, 2023
	175	+	JANUARY 1, 2024, the ratio of valuation for20
	176	+	assessment for multi-family residential real property is temporarily21
	177	+	reduced to 6.8 percent of actual value;22
114	178		(II) F
115		-	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
	179	+	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,23
116	180		2023,
117		-	THE RATIO OF VALUATION FOR ASSESSMENT FOR MULTI -FAMILY
118		-	RESIDENTIAL REAL PROPERTY IS TEMPORARILY REDUCED TO
119		-	6.765 PERCENT
120		-	OF ACTUAL VALUE
121		-	.
122		-	(r) The ratio of valuation for assessment for all residential real
123		-	property other than multi-family residential real property is 7.15 percent of
124		-	actual value; except that:
125		-	PAGE 3-SENATE BILL 22-238 (I) For THE property tax years YEAR commencing on January 1,
126		-	2022, and January 1, 2023, the ratio of valuation for assessment for all
127		-	residential real property other than multi-family residential real property is
128		-	temporarily reduced to 6.95 percent of actual value;
	181	+	THE RATIO OF VALUATION FOR ASSESSMENT FOR MULTI -FAMILY24
	182	+	RESIDENTIAL REAL PROPERTY IS TEMPORARILY REDUCED TO 6.765
	183	+	25
	184	+	PERCENT OF ACTUAL VALUE.26
	185	+	(r) The ratio of valuation for assessment for all residential real27
	186	+	238
	187	+	-5- property other than multi-family residential real property is 7.15 percent1
	188	+	of actual value; except that:2
	189	+	(I) For
	190	+	THE property tax years
	191	+	YEAR commencing on January 1,3
	192	+	2022, and January 1, 2023, the ratio of valuation for assessment for all4
	193	+	residential real property other than multi-family residential real property5
	194	+	is temporarily reduced to 6.95 percent of actual value;6
129	195		(II) F
130		-	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
	196	+	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,7
131	197		2023,
132		-	THE RATIO OF VALUATION FOR ASSESSMENT FOR ALL RESIDENTIAL
133		-	REAL PROPERTY OTHER THAN MULTI
134		-	-FAMILY RESIDENTIAL REAL PROPERTY
135		-	IS
136		-	6.765 PERCENT OF ACTUAL VALUE; AND
137		-	(III) FOR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
	198	+	THE RATIO OF VALUATION FOR ASSESSMENT FOR ALL RESIDENTIAL8
	199	+	REAL PROPERTY OTHER THAN MULTI-FAMILY RESIDENTIAL REAL PROPERTY9
	200	+	IS 6.765 PERCENT OF ACTUAL VALUE; AND10
	201	+	(III) F
	202	+	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,11
138	203		2024,
139		-	THE RATIO OF VALUATION FOR ASSESSMENT FOR ALL RESIDENTIAL
140		-	REAL PROPERTY OTHER THAN MULTI
141		-	-FAMILY RESIDENTIAL REAL PROPERTY
142		-	IS TEMPORARILY ESTABLISHED AS THE PERCENTAGE CALCULATED IN
143		-	ACCORDANCE WITH SECTION
144		-	39-1-104.4.
145		-	SECTION 3. In Colorado Revised Statutes, add 39-1-104.3 as
146		-	follows:
147		-	39-1-104.3. Partial real property tax reductions - residential
	204	+	THE RATIO OF VALUATION FOR ASSESSMENT FOR ALL RESIDENTIAL12
	205	+	REAL PROPERTY OTHER THAN MULTI-FAMILY RESIDENTIAL REAL PROPERTY13
	206	+	IS TEMPORARILY ESTABLISHED AS THE PERCENTAGE CALCULATED IN14
	207	+	ACCORDANCE WITH SECTION 39-1-104.4.15
	208	+	SECTION 3. In Colorado Revised Statutes, add 39-1-104.3 as16
	209	+	follows:17
	210	+	39-1-104.3. Partial real property tax reductions - residential18
148	211		property - definitions - repeal. (1) A
149		-	S USED IN THIS SECTION, UNLESS THE
150		-	CONTEXT OTHERWISE REQUIRES
151		-	, "RESIDENTIAL REAL PROPERTY " MEANS
152		-	PROPERTY LISTED BY THE ASSESSOR UNDER ANY RESIDENTIAL REAL
153		-	PROPERTY CLASSIFICATION CODE
154		-	.
	212	+	S USED IN THIS SECTION, UNLESS19
	213	+	THE CONTEXT OTHERWISE REQUIRES , "RESIDENTIAL REAL PROPERTY "20
	214	+	MEANS PROPERTY LISTED BY THE ASSESSOR UNDER ANY RESIDENTIAL REAL21
	215	+	PROPERTY CLASSIFICATION CODE.22
155	216		(2) F
156		-	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
	217	+	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,23
157	218		2023,
158		-	THE VALUATION FOR ASSESSMENT FOR RESIDENTIAL REAL PROPERTY
159		-	IS SIX AND SEVEN HUNDRED SIXTY
160		-	-FIVE THOUSANDTHS PERCENT , AS SET
161		-	FORTH IN SECTION
162		-	39-1-104.2 (3)(q)(II) AND (3)(r)(II), OF THE AMOUNT
163		-	EQUAL TO THE ACTUAL VALUE
164		-	, DETERMINED PURSUANT TO SECTION
165		-	39-1-103, MINUS THE LESSER OF FIFTEEN THOUSAND DOLLARS OR THE
166		-	AMOUNT THAT REDUCES THE VALUATION FOR ASSESSMENT TO ONE
167		-	THOUSAND DOLLARS
168		-	.
	219	+	THE VALUATION FOR ASSESSMENT FOR RESIDENTIAL REAL PROPERTY24
	220	+	IS SIX AND SEVEN HUNDRED SIXTY-FIVE THOUSANDTHS PERCENT , AS SET25
	221	+	FORTH IN SECTION 39-1-104.2 (3)(q)(II) AND (3)(r)(II), OF THE AMOUNT26
	222	+	EQUAL TO THE ACTUAL VALUE , DETERMINED PURSUANT TO SECTION27
	223	+	238
	224	+	-6- 39-1-103, MINUS THE LESSER OF FIFTEEN THOUSAND DOLLARS OR THE1
	225	+	AMOUNT THAT REDUCES THE VALUATION FOR ASSESSMENT TO ONE2
	226	+	THOUSAND DOLLARS.3
169	227		(3) T
170		-	HIS ADJUSTMENT DOES NOT APPLY TO ANY OTHER CLASS OF
171		-	PROPERTY
172		-	.
	228	+	HIS ADJUSTMENT DOES NOT APPLY TO ANY OTHER CLASS OF4
	229	+	PROPERTY.5
173	230		(4) T
174		-	HIS SECTION IS REPEALED, EFFECTIVE JULY 1, 2025.
175		-	SECTION 4. In Colorado Revised Statutes, add 39-1-104.4 as
176		-	~~PAGE 4-SENATE BILL 22-238~~ follows:
	231	+	HIS SECTION IS REPEALED, EFFECTIVE JULY 1, 2025.6
	232	+	SECTION 4. In Colorado Revised Statutes, add 39-1-104.4 as7
	233	+	follows:8
177	234		39-1-104.4. Adjustment of residential rate. (1) T
178		-	HE RATIO OF
179		-	VALUATION FOR ASSESSMENT FOR RESIDENTIAL REAL PROPERTY OTHER
180		-	THAN MULTI
181		-	-FAMILY RESIDENTIAL REAL PROPERTY FOR THE PROPERTY TAX
182		-	YEAR COMMENCING ON
183		-	JANUARY 1, 2024, IS EQUAL TO THE PERCENTAGE
184		-	NECESSARY FOR THE FOLLOWING TO EQUAL A TOTAL OF SEVEN HUNDRED
185		-	MILLION DOLLARS
186		-	:
	235	+	HE RATIO OF9
	236	+	VALUATION FOR ASSESSMENT FOR RESIDENTIAL REAL PROPERTY OTHER10
	237	+	THAN MULTI-FAMILY RESIDENTIAL REAL PROPERTY FOR THE PROPERTY11
	238	+	TAX YEAR COMMENCING ON JANUARY 1, 2024, IS EQUAL TO THE12
	239	+	PERCENTAGE NECESSARY FOR THE FOLLOWING TO EQUAL A TOTAL OF13
	240	+	SEVEN HUNDRED MILLION DOLLARS :14
187	241		(a) T
188		-	HE AGGREGATE REDUCTION OF LOCAL ~~GOVERNMENT PROPERTY~~
189		-	~~TAX REVENUE DURING THE~~ PROPERTY TAX ~~YEAR COMMENCING ON~~
190		-	~~JANUARY~~
191		-	1, 2023, AS A RESULT OF THE CHANGES MADE IN SENATE ~~BILL 22-238,~~
192		-	ENACTED IN 2022, THAT REDUCED VALUATIONS FOR ~~ASSESSMENT SET FORTH~~
193		-	PURSUANT TO SECTIONS
194		-	~~39-1-104 (1)(b) AND (1.8)(b),~~ 39-1-104.2 (3)(q)(II)
195		-	AND (3)(r)(II), AND 39-3-104.3 (2); ~~AND~~
196		-	(b) ~~THE AGGREGATE REDUCTION OF LOCAL GOVERNMENT PROPERTY~~
197		-	~~TAX REVENUE DURING THE PROPERTY TAX YEAR COMMENCING ON~~
198		-	~~JANUARY~~
199		-	1, 2024, AS A RESULT OF THE REDUCED VALUATIONS ~~FOR ASSESSMENT SET~~
200		-	FORTH PURSUANT TO SECTIONS
201		-	~~39-1-104 (1.8)(a) AND~~ 39-1-104.2 (3)(q)(I)
202		-	AND (3)(r)(III) FOR THE PROPERTY TAX ~~YEAR COMMENCING ON JANUARY 1,~~
203		-	2024.
	242	+	HE AGGREGATE REDUCTION OF LOCAL GOVERNMENT15
	243	+	PROPERTY TAX
	244	+	REVENUE DURING THE PROPERTY TAX YEAR COMMENCING16
	245	+	ON JANUARY 1, 2023, AS A RESULT OF THE CHANGES MADE IN SENATE BILL17
	246	+	22-238, ENACTED IN 2022, THAT REDUCED VALUATIONS FOR ASSESSMENT18
	247	+	SET FORTH PURSUANT TO SECTIONS 39-1-104 (1)(b) AND (1.8)(b),19
	248	+	39-1-104.2 (3)(q)(II)
	249	+	AND (3)(r)(II), AND 39-3-104.3 (2); AND20
	250	+	(b) T
	251	+	HE AGGREGATE REDUCTION OF LOCAL GOVERNMENT21
	252	+	PROPERTY TAX REVENUE DURING THE PROPERTY TAX YEAR COMMENCING22
	253	+	ON JANUARY 1, 2024, AS A RESULT OF THE REDUCED VALUATIONS FOR23
	254	+	ASSESSMENT SET FORTH PURSUANT TO SECTIONS 39-1-104 (1.8)(a) AND24
	255	+	39-1-104.2 (3)(q)(I)
	256	+	AND (3)(r)(III) FOR THE PROPERTY TAX YEAR25
	257	+	COMMENCING ON JANUARY 1, 2024.26
204	258		(2)
205		-	ON OR BEFORE MARCH 21, 2024, BASED ON THE ~~INFORMATION~~
206		-	~~AVAILABLE ON THAT DATE~~
207		-	, THE PROPERTY TAX ADMINISTRATOR ~~SHALL~~
208		-	SUBMIT A REPORT TO THE GENERAL ASSEMBLY CALCULATING THE ~~RATIO OF~~
209		-	VALUATION FOR ASSESSMENT SPECIFIED IN SUBSECTION
210		-	~~(1) OF THIS~~ SECTION.
211		-	SECTION 5. In Colorado Revised Statutes, add 39-3-210 as
212		-	follows:
213		-	39-3-210. Reporting of property tax revenue reductions -
214		-	reimbursement of local governmental entities - definition - repeal.
	259	+	ON OR BEFORE MARCH 21, 2024, BASED ON THE INFORMATION27
	260	+	238
	261	+	-7- AVAILABLE ON THAT DATE, THE PROPERTY TAX ADMINISTRATOR SHALL1
	262	+	SUBMIT A REPORT TO THE GENERAL ASSEMBLY CALCULATING THE RATIO2
	263	+	OF VALUATION FOR ASSESSMENT SPECIFIED IN SUBSECTION (1) OF THIS3
	264	+	SECTION.4
	265	+	SECTION 5. In Colorado Revised Statutes, add 39-3-210 as5
	266	+	follows:6
	267	+	39-3-210. Reporting of property tax revenue reductions -7
	268	+	reimbursement of local governmental entities - definition - repeal.8
215	269		(1) A
216		-	S USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE REQUIRES :
	270	+	S USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE
	271	+	9
	272	+	REQUIRES:10
217	273		(a) "A
218		-	DDITIONAL STATE REVENUES " MEANS THE LESSER OF TWO
219		-	HUNDRED FORTY MILLION DOLLARS OR THE TOTAL AMOUNT OF THE STATE
220		-	REVENUES IN EXCESS OF THE LIMITATION ON STATE FISCAL YEAR SPENDING
221		-	IMPOSED BY SECTION
222		-	20 (7)(a) OF ARTICLE X OF THE STATE CONSTITUTION
223		-	THAT THE STATE IS REQUIRED TO REFUND UNDER SECTION
224		-	20 (7)(d) OF
225		-	PAGE 5-SENATE BILL 22-238 ARTICLE X OF THE STATE CONSTITUTION, INCLUDING ANY AMOUNT SPECIFIED
226		-	IN SECTION
227		-	24-77-103.8, THAT EXCEEDS THE AMOUNTS PROJECTED TO BE
228		-	REFUNDED AS REQUIRED BY SECTIONS
229		-	39-3-209 AND 39-22-627 FOR THE
230		-	STATE FISCAL YEAR COMMENCING ON
231		-	JULY 1, 2022.
	274	+	DDITIONAL STATE REVENUES" MEANS THE
	275	+	LESSER OF TWO11
	276	+	HUNDRED FORTY MILLION DOLLARS OR THE TOTAL AMOUNT OF THE STATE12
	277	+	REVENUES IN EXCESS OF THE LIMITATION ON STATE FISCAL YEAR SPENDING13
	278	+	IMPOSED BY SECTION 20 (7)(a) OF ARTICLE X OF THE STATE CONSTITUTION14
	279	+	THAT THE STATE IS REQUIRED TO REFUND UNDER SECTION 20 (7)(d) OF15
	280	+	ARTICLE X OF THE STATE CONSTITUTION , INCLUDING ANY AMOUNT16
	281	+	SPECIFIED IN SECTION 24-77-103.8, THAT EXCEEDS THE AMOUNTS17
	282	+	PROJECTED TO BE REFUNDED AS REQUIRED BY SECTIONS 39-3-209 AND18
	283	+	39-22-627
	284	+	FOR THE STATE FISCAL YEAR COMMENCING ON JULY 1, 2022.19
232	285		(b) "F
233	286		IRE DISTRICT" MEANS ANY SPECIAL DISTRICT THAT HAS THE
234		-	SOLE RESPONSIBILITY OF PROVIDING FIRE PROTECTION SERVICES
235		-	.
236		-	(c) "H
237		-	EALTH SERVICE DISTRICT" MEANS A SPECIAL DISTRICT THAT
238		-	MAY ESTABLISH
239		-	, MAINTAIN, OR OPERATE, DIRECTLY OR INDIRECTLY
240		-	THROUGH LEASE TO OR FROM OTHER PARTIES OR OTHER ARRANGEMENT
241		-	,
242		-	PUBLIC HOSPITALS, CONVALESCENT CENTERS , NURSING CARE FACILITIES,
243		-	INTERMEDIATE CARE FACILITIES , EMERGENCY FACILITIES, COMMUNITY
244		-	CLINICS
245		-	, OR OTHER FACILITIES LICENSED OR CERTIFIED PURSUANT TO
246		-	SECTION
247		-	25-1.5-103 (1)(a) PROVIDING HEALTH AND PERSONAL CARE
248		-	SERVICES AND MAY ORGANIZE
249		-	, OWN, OPERATE, CONTROL, DIRECT, MANAGE,
250		-	CONTRACT FOR, OR FURNISH AMBULANCE SERVICE .
251		-	(d) "L
252		-	IBRARY DISTRICT" MEANS A PUBLIC LIBRARY ESTABLISHED AS
253		-	ITS OWN TAXING AUTHORITY BY ONE OR MORE GOVERNMENTAL UNITS OR
254		-	PARTS THEREOF
255		-	. A LIBRARY DISTRICT IS A POLITICAL SUBDIVISION OF THE
256		-	STATE
257		-	.
258		-	(e) "M
	287	+	20
	288	+	SOLE RESPONSIBILITY OF PROVIDING FIRE PROTECTION SERVICES .21
	289	+	(c) "L
	290	+	IBRARY DISTRICT" MEANS A PUBLIC LIBRARY ESTABLISHED
	291	+	22
	292	+	AS ITS OWN TAXING AUTHORITY BY ONE OR MORE GOVERNMENTAL UNITS23
	293	+	OR PARTS THEREOF. A LIBRARY DISTRICT IS A POLITICAL SUBDIVISION OF24
	294	+	THE STATE.25
	295	+	(d) "M
259	296		UNICIPALITY" MEANS A HOME RULE OR STATUTORY CITY ,
260		-	TOWN, TERRITORIAL CHARTER CITY, OR CITY AND COUNTY.
261		-	(f) "S
262		-	ANITATION DISTRICT" MEANS A SPECIAL DISTRICT THAT
263		-	PROVIDES FOR STORM OR SANITARY SEWERS
264		-	, OR BOTH, FLOOD AND SURFACE
265		-	DRAINAGE
266		-	, TREATMENT AND DISPOSAL WORKS AND FACILITIES , OR SOLID
267		-	WASTE DISPOSAL FACILITIES OR WASTE SERVICES
268		-	, AND ALL NECESSARY OR
269		-	PROPER EQUIPMENT AND APPURTENANCES INCIDENT THERETO
270		-	.
271		-	(g) "W
	297	+	26
	298	+	TOWN, TERRITORIAL CHARTER CITY, OR CITY AND COUNTY.27
	299	+	238
	300	+	-8- (e) "SANITATION DISTRICT" MEANS A SPECIAL DISTRICT THAT1
	301	+	PROVIDES FOR STORM OR SANITARY SEWERS , OR BOTH, FLOOD AND2
	302	+	SURFACE DRAINAGE, TREATMENT AND DISPOSAL WORKS AND FACILITIES ,3
	303	+	OR SOLID WASTE DISPOSAL FACILITIES OR WASTE SERVICES , AND ALL4
	304	+	NECESSARY OR PROPER EQUIPMENT AND APPURTENANCES INCIDENT5
	305	+	THERETO.6
	306	+	(f) "W
272	307		ATER DISTRICT" MEANS A SPECIAL DISTRICT THAT SUPPLIES
273		-	WATER FOR DOMESTIC AND OTHER PUBLIC AND PRIVATE PURPOSES BY ANY
274		-	AVAILABLE MEANS AND PROVIDES ALL NECESSARY OR PROPER RESERVOIRS
275		-	,
276		-	TREATMENT WORKS AND FACILITIES , EQUIPMENT, AND APPURTENANCES
277		-	INCIDENT THERETO
278		-	.
279		-	(2) (a) F
280		-	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
281		-	2023,
282		-	FOR COUNTIES WITH A POPULATION OF THREE HUNDRED THOUSAND OR
283		-	PAGE 6-SENATE BILL 22-238 LESS AS DETERMINED PURSUANT TO THE MOST RECENTLY PUBLISHED
284		-	POPULATION ESTIMATES FROM THE STATE DEMOGRAPHER APPOINTED BY THE
285		-	EXECUTIVE DIRECTOR OF THE DEPARTMENT OF LOCAL AFFAIRS
286		-	:
287		-	(I) E
288		-	ACH TREASURER SHALL CALCULATE THE TOTAL PROPERTY TAX
289		-	REVENUES LOST BY EACH LOCAL GOVERNMENTAL ENTITY
290		-	, EXCLUDING
291		-	SCHOOL DISTRICTS
292		-	, WITHIN THE TREASURER'S COUNTY AS A RESULT OF THE
293		-	CHANGES MADE IN
294		-	SENATE BILL 22-238, ENACTED IN 2022, THAT REDUCED
295		-	VALUATIONS FOR ASSESSMENT SET FORTH PURSUANT TO SECTIONS
296		-	39-1-104
297		-	(1)(b)
298		-	AND (1.8)(b), 39-1-104.2 (3)(q)(II) AND (3)(r)(II), AND 39-3-104.3
299		-	(2);
300		-	AND
301		-	(II) EACH ASSESSOR SHALL CALCULATE THE DIFFERENCE IN
302		-	ASSESSED VALUE OF REAL PROPERTY FOR THE PROPERTY TAX YEAR
303		-	COMMENCING ON
304		-	JANUARY 1, 2022, AND THE PROPERTY TAX YEAR
305		-	COMMENCING ON
306		-	JANUARY 1, 2023 WITHIN THE ASSESSOR'S COUNTY.
	308	+	7
	309	+	WATER FOR DOMESTIC AND OTHER PUBLIC AND PRIVATE PURPOSES BY ANY8
	310	+	AVAILABLE MEANS AND PROVIDES ALL NECESSARY OR PROPER9
	311	+	RESERVOIRS, TREATMENT WORKS AND FACILITIES , EQUIPMENT, AND10
	312	+	APPURTENANCES INCIDENT THERETO .11
	313	+	(2) (a) FOR THE PROPERTY TAX YEAR COMMENCING ON JANUARY12
	314	+	1, 2023,
	315	+	FOR COUNTIES WITH A POPULATION OF THREE HUNDRED
	316	+	13
	317	+	THOUSAND OR LESS AS DETERMINED PU RSUANT TO THE MOST RECENTLY14
	318	+	PUBLISHED POPULATION ESTIMATES FROM THE STATE DEMOGRAPHER15
	319	+	APPOINTED BY THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF LOCAL16
	320	+	AFFAIRS:17
	321	+	(I) EACH TREASURER SHALL CALCULATE THE TOTAL PROPERTY18
	322	+	TAX REVENUES LOST BY EACH LOCAL GOVERNMENTAL ENTITY , EXCLUDING19
	323	+	SCHOOL DISTRICTS, WITHIN THE TREASURER'S COUNTY AS A RESULT OF THE20
	324	+	CHANGES MADE IN SENATE BILL 22-238, ENACTED IN 2022, THAT21
	325	+	REDUCED VALUATIONS FOR ASSESSMENT SET FORTH PURSUANT TO22
	326	+	SECTIONS 39-1-104 (1)(b) AND (1.8)(b), 39-1-104.2 (3)(q)(II) AND23
	327	+	(3)(r)(II),
	328	+	AND 39-3-104.3 (2); AND 24
	329	+	(II)
	330	+	EACH ASSESSOR SHALL CALCULATE THE DIFFERENCE IN25
	331	+	ASSESSED VALUE OF REAL PROPERTY FOR THE PROPERTY TAX YEAR26
	332	+	COMMENCING ON JANUARY 1, 2022, AND THE PROPERTY TAX YEAR27
	333	+	238
	334	+	-9- COMMENCING ON JANUARY 1, 2023 WITHIN THE ASSESSOR'S COUNTY.1
307	335		(b) F
308	336		OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
	337	+	2
309	338		2023,
310	339		FOR COUNTIES WITH A POPULATION GREATER T HAN THREE HUNDRED
311		-	THOUSAND AS DETERMINED PURSUANT TO THE MOST RECENTLY PUBLISHED
312		-	POPULATION ESTIMATES FROM THE STATE DEMOGRAPHER APPOINTED BY THE
313		-	EXECUTIVE DIRECTOR OF THE DEPARTMENT OF LOCAL AFFAIRS
314		-	:
	340	+	3
	341	+	THOUSAND AS DETERMINED PURSUANT TO THE MOST RECENTLY4
	342	+	PUBLISHED POPULATION ESTIMATES FROM THE STATE DEMOGRAPHER5
	343	+	APPOINTED BY THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF LOCAL6
	344	+	AFFAIRS:7
315	345		(I) (A) E
316	346		ACH TREASURER SHALL CALCULATE , FOR EACH
317		-	MUNICIPALITY
318		-	, FIRE DISTRICT, HEALTH SERVICE DISTRICT, WATER DISTRICT,
319		-	SANITATION DISTRICT, AND LIBRARY DISTRICT, THE AGGREGATE REDUCTION
320		-	OF LOCAL GOVERNMENT PROPERTY TAX REVENUE DURING THE PROPERTY
321		-	TAX YEAR COMMENCING ON
322		-	JANUARY 1, 2023, AS A RESULT OF THE
323		-	CHANGES MADE IN
324		-	SENATE BILL 22-238, ENACTED IN 2022, THAT REDUCED
325		-	VALUATIONS FOR ASSESSMENT SET FORTH PURSUANT TO SECTIONS
326		-	39-1-104
327		-	(1)(b)
328		-	AND (1.8)(b), 39-1-104.2 (3)(q)(II) AND (3)(r)(II), AND 39-3-104.3
329		-	(2);
	347	+	8
	348	+	MUNICIPALITY, FIRE DISTRICT, WATER DISTRICT, SANITATION DISTRICT,9
	349	+	AND LIBRARY DISTRICT , THE AGGREGATE REDUCTION OF LOCAL10
	350	+	GOVERNMENT PROPERTY TAX REVENUE DURING THE PROPERTY TAX YEAR11
	351	+	COMMENCING ON JANUARY 1, 2023, AS A RESULT OF THE CHANGES MADE12
	352	+	IN SENATE BILL 22-238, ENACTED IN 2022, THAT REDUCED VALUATIONS13
	353	+	FOR ASSESSMENT SET FORTH PURSUANT TO SECTIONS 39-1-104 (1)(b) AND14
	354	+	(1.8)(b), 39-1-104.2 (3)(q)(II)
	355	+	AND (3)(r)(II), AND 39-3-104.3 (2);
	356	+	15
330	357		(B) E
331	358		ACH ASSESSOR SHALL CALCULATE , FOR EACH MUNICIPALITY,
332		-	FIRE DISTRICT, HEALTH SERVICE DISTRICT, WATER DISTRICT, SANITATION
333		-	DISTRICT
334		-	, AND LIBRARY DISTRICT, THE DIFFERENCE IN ASSESSED VALUE OF
335		-	REAL PROPERTY FOR THE PROPERTY TAX YEAR COMMENCING ON
336		-	JANUARY
337		-	1, 2022, AND THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2023,
338		-	WITHIN THE ASSESSOR'S COUNTY; AND
339		-	PAGE 7-SENATE BILL 22-238 (II) EACH TREASURER SHALL CALCULATE , FOR ALL LOCAL
340		-	GOVERNMENTAL ENTITIES BESIDES MUNICIPALITIES
341		-	, FIRE DISTRICTS, HEALTH
342		-	SERVICE DISTRICTS
343		-	, WATER DISTRICTS, SANITATION DISTRICTS, SCHOOL
344		-	DISTRICTS
345		-	, AND LIBRARY DISTRICTS, THE AGGREGATE REDUCTION OF LOCAL
346		-	GOVERNMENT PROPERTY TAX REVENUE DURING THE PROPERTY TAX YEAR
347		-	COMMENCING ON
348		-	JANUARY 1, 2023, AS A RESULT OF THE CHANGES MADE IN
349		-	SENATE BILL 22-238, ENACTED IN 2022, THAT REDUCED VALUATIONS FOR
350		-	ASSESSMENT SET FORTH PURSUANT TO SECTIONS
351		-	39-1-104 (1)(b) AND
352		-	(1.8)(b), 39-1-104.2 (3)(q)(II) AND (3)(r)(II), AND 39-3-104.3 (2).
	359	+	16
	360	+	FIRE DISTRICT, WATER DISTRICT, SANITATION DISTRICT, AND LIBRARY17
	361	+	DISTRICT, THE DIFFERENCE IN ASSESSED VALUE OF REAL PROPERTY FOR18
	362	+	THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2022, AND THE19
	363	+	PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2023, WITHIN THE20
	364	+	ASSESSOR'S COUNTY; AND21
	365	+	(II) E
	366	+	ACH TREASURER SHALL CALCULATE , FOR ALL LOCAL
	367	+	22
	368	+	GOVERNMENTAL ENTITIES BESIDES MUNICIPALITIES , FIRE DISTRICTS,23
	369	+	WATER DISTRICTS, SANITATION DISTRICTS, SCHOOL DISTRICTS, AND24
	370	+	LIBRARY DISTRICTS, THE AGGREGATE REDUCTION OF LOCAL GOVERNMENT25
	371	+	PROPERTY TAX REVENUE DURING THE PROPERTY TAX YEAR COMMENCING26
	372	+	ON JANUARY 1, 2023, AS A RESULT OF THE CHANGES MADE IN SENATE BILL27
	373	+	238
	374	+	-10- 22-238, ENACTED IN 2022, THAT REDUCED VALUATIONS FOR ASSESSMENT1
	375	+	SET FORTH PURSUANT TO SECTIONS 39-1-104 (1)(b) AND (1.8)(b),2
	376	+	39-1-104.2 (3)(q)(II)
	377	+	AND (3)(r)(II), AND 39-3-104.3 (2).
	378	+	3
353	379		(3) N
354		-	O LATER THAN MARCH 1, 2024, EACH TREASURER SHALL
355		-	REPORT THE AMOUNTS SPECIFIED IN SUBSECTION
356		-	(2) OF THIS SECTION, AS
357		-	APPLICABLE
358		-	, AND THE BASIS FOR THE AMOUNTS TO THE ADMINISTRATOR ,
359		-	AND THE ADMINISTRATOR MAY REQUIRE A TREASURER TO PROVIDE
360		-	ADDITIONAL INFORMATION AS NECESSARY TO EVALUATE THE ACCURACY OF
361		-	THE AMOUNTS REPORTED
362		-	. THE ADMINISTRATOR SHALL CONFIRM THAT THE
363		-	REPORTED AMOUNTS ARE CORRECT OR RECTIFY THE AMOUNTS
364		-	, IF
365		-	NECESSARY
366		-	. THE ADMINISTRATOR SHALL THEN FORWARD THE CORRECT
367		-	AMOUNTS FOR EACH COUNTY TO THE STATE TREASURER TO ENABLE THE
368		-	STATE TREASURER TO ISSUE A REIMBURSEMENT WARRANT TO EACH
369		-	TREASURER IN ACCORDANCE WITH SUBSECTION
370		-	(4) OF THIS SECTION.
	380	+	O LATER THAN MARCH 1, 2024, EACH TREASURER SHALL4
	381	+	REPORT THE AMOUNTS SPECIFIED IN SUBSECTION (2) OF THIS SECTION, AS5
	382	+	APPLICABLE, AND THE BASIS FOR THE AMOUNTS TO THE ADMINISTRATOR ,6
	383	+	AND THE ADMINISTRATOR MAY REQUIRE A TREASURER TO PROVIDE7
	384	+	ADDITIONAL INFORMATION AS NECESSARY TO EVALUATE THE ACCURACY8
	385	+	OF THE AMOUNTS REPORTED. THE ADMINISTRATOR SHALL CONFIRM THAT9
	386	+	THE REPORTED AMOUNTS ARE CORRECT OR RECTIFY THE AMOUNTS , IF10
	387	+	NECESSARY. THE ADMINISTRATOR SHALL THEN FORWARD THE CORRECT11
	388	+	AMOUNTS FOR EACH COUNTY TO THE STATE TREASURER TO ENABLE THE12
	389	+	STATE TREASURER TO ISSUE A REIMBURSEMENT WARRANT TO EACH13
	390	+	TREASURER IN ACCORDANCE WITH SUBSECTION (4) OF THIS SECTION.14
371	391		(4) (a) N
372		-	O LATER THAN APRIL 15, 2024, THE STATE TREASURER
373		-	SHALL ISSUE A WARRANT
374		-	, TO BE PAID UPON DEMAND FROM ADDITIONAL
375		-	STATE REVENUES FOR THE STATE FISCAL YEAR COMMENCING ON
376		-	JULY 1,
	392	+	O LATER THAN APRIL 15, 2024, THE STATE TREASURER15
	393	+	SHALL ISSUE A WARRANT, TO BE PAID UPON DEMAND FROM ADDITIONAL16
	394	+	STATE REVENUES FOR THE STATE FISCAL YEAR COMMENCING ON JULY 1,17
377	395		2022,
378		-	AND, IF NECESSARY, FROM OTHER MONEY IN THE GENERAL FUND , TO
379		-	EACH TREASURER THAT IS EQUAL TO THE TOTAL OF
380		-	:
	396	+	AND, IF NECESSARY, FROM OTHER MONEY IN THE GENERAL FUND , TO18
	397	+	EACH TREASURER THAT IS EQUAL TO THE TOTAL OF :19
381	398		(I) T
382		-	HE AMOUNT SPECIFIED BY THE ADMINISTRATOR UNDER
383		-	SUBSECTION
384		-	(3) OF THIS SECTION, BASED ON THE AMOUNT REPORTED BY
385		-	EACH TREASURER UNDER SUBSECTION
386		-	(2)(a)(I) OF THIS SECTION, FOR EACH
387		-	COUNTY THAT BOTH
388		-	:
	399	+	HE AMOUNT SPECIFIED BY THE ADMINISTRATOR UNDER20
	400	+	SUBSECTION (3) OF THIS SECTION, BASED ON THE AMOUNT REPORTED BY
	401	+	21
	402	+	EACH TREASURER UNDER SUBSECTION (2)(a)(I) OF THIS SECTION, FOR22
	403	+	EACH COUNTY THAT BOTH :23
389	404		(A) H
390		-	AD AN INCREASE OF LESS THAN TEN PERCENT IN ~~THE ASSESSED~~
391		-	VALUE OF REAL PROPERTY FROM THE PROPERTY TAX ~~YEAR COMMENCING ON~~
392		-	JANUARY 1, 2022, TO THE PROPERTY TAX ~~YEAR COMMENCING ON JANUARY~~
393		-	1, 2023; ~~AND~~
394		-	~~(B) HAS A POPULATION OF THREE HUNDRED THOUSAND OR FEWER ,~~
395		-	~~AS DETERMINED PURSUANT TO THE MOST RECENTLY PUBLISHED~~ POPULATION
396		-	~~PAGE 8-SENATE~~ ~~BILL 22-238 ESTIMATES FROM~~ THE ~~STATE DEMOGRAPHER APPOINTED BY THE EXECUTIVE~~
397		-	~~DIRECTOR OF~~ THE ~~DEPARTMENT OF LOCAL AFFAIRS~~
398		-	;
	405	+	AD AN INCREASE OF LESS THAN TEN PERCENT IN THE24
	406	+	ASSESSED VALUE OF REAL PROPERTY FROM THE PROPERTY TAX YEAR25
	407	+	COMMENCING ON JANUARY 1, 2022, TO THE PROPERTY TAX YEAR26
	408	+	COMMENCING ON JANUARY 1, 2023; AND27
	409	+	238
	410	+	-11- (B) HAS A POPULATION OF THREE HUNDRED THOUSAND OR FEWER ,1
	411	+	AS DETERMINED PURSUANT TO THE MOST RECENTLY PUBLISHED2
	412	+	POPULATION ESTIMATES FROM THE STATE DEMOGRAPHER APPOINTED BY3
	413	+	THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF LOCAL AFFAIRS ;4
399	414		(II) N
	415	+	INETY PERCENT OF THE AMOUNT SPECIFIED BY THE5
	416	+	ADMINISTRATOR UNDER SUBSECTION (3) OF THIS SECTION, BASED ON THE
	417	+	6
	418	+	AMOUNT REPORTED BY EACH TREASURER UNDER SUBSECTION (2)(a)(I) OF7
	419	+	THIS SECTION, FOR EACH COUNTY THAT BOTH:8
	420	+	(A) H
	421	+	AD AN INCREASE OF TEN PERCENT OR MORE IN THE ASSESSED9
	422	+	VALUE OF REAL PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING10
	423	+	ON JANUARY 1, 2022, TO THE PROPERTY TAX YEAR COMMENCING ON11
	424	+	J
	425	+	ANUARY 1, 2023; AND12
	426	+	(B) H
	427	+	AS A POPULATION OF THREE HUNDRED THOUSAND OR FEWER ,13
	428	+	AS DETERMINED PURSUANT TO THE MOST RECENTLY PUBLISHED14
	429	+	POPULATION ESTIMATES FROM THE STATE DEMOGRAPHER APPOINTED BY15
	430	+	THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF LOCAL AFFAIRS ; AND16
	431	+	(III) S
	432	+	IXTY-FIVE PERCENT OF THE AMOUNT SPECIFIED BY THE17
	433	+	ADMINISTRATOR UNDER SUBSECTION (3) OF THIS SECTION, BASED ON THE
	434	+	18
	435	+	AMOUNT REPORTED BY EACH TREASURER UNDER SUBSECTION (2)(b)(II) OF19
	436	+	THIS SECTION, FOR ANY COUNTY NOT DESCRIBED IN SUBSECTIONS (4)(a)(I)20
	437	+	AND (4)(a)(II) OF THIS SECTION.21
	438	+	(IV) T
	439	+	HE ENTIRE AMOUNT SPECIFIED BY THE ADMINISTRATOR
	440	+	22
	441	+	UNDER SUBSECTION (3) OF THIS SECTION, BASED ON THE AMOUNT23
	442	+	REPORTED BY EACH TREASURER UNDER SUBSECTION (2)(b)(I)(A) OF THIS24
	443	+	SECTION FOR EACH MUNICIPALITY , FIRE DISTRICT, WATER DISTRICT,25
	444	+	SANITATION DISTRICT, AND LIBRARY DISTRICT THAT HAD AN INCREASE OF26
	445	+	TEN PERCENT OR MORE IN THE ASSESSED VALUE OF REAL PROPERTY FROM27
	446	+	238
	447	+	-12- THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2022, TO THE1
	448	+	PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2023; AND2
	449	+	(V) N
400	450		INETY PERCENT OF THE AMOUNT SPECIFIED BY THE
401		-	ADMINISTRATOR UNDER SUBSECTION
402		-	(3) OF THIS SECTION, BASED ON THE
403		-	AMOUNT REPORTED BY EACH TREASURER UNDER SUBSECTION
404		-	(2)(a)(I) OF
405		-	THIS SECTION
406		-	, FOR EACH COUNTY THAT BOTH:
407		-	(A) H
408		-	AD AN INCREASE OF TEN PERCENT OR MORE IN THE ASSESSED
409		-	VALUE OF REAL PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON
410		-	JANUARY 1, 2022, TO THE PROPERTY TAX YEAR COMMENCING ON JANUARY
411		-	1, 2023; AND
412		-	(B) HAS A POPULATION OF THREE HUNDRED THOUSAND OR FEWER ,
413		-	AS DETERMINED PURSUANT TO THE MOST RECENTLY PUBLISHED POPULATION
414		-	ESTIMATES FROM THE STATE DEMOGRAPHER APPOINTED BY THE EXECUTIVE
415		-	DIRECTOR OF THE DEPARTMENT OF LOCAL AFFAIRS
416		-	; AND
417		-	(III) SIXTY-FIVE PERCENT OF THE AMOUNT SPECIFIED BY THE
418		-	ADMINISTRATOR UNDER SUBSECTION
419		-	(3) OF THIS SECTION, BASED ON THE
420		-	AMOUNT REPORTED BY EACH TREASURER UNDER SUBSECTION
421		-	(2)(b)(II) OF
422		-	THIS SECTION
423		-	, FOR ANY COUNTY NOT DESCRIBED IN SUBSECTIONS (4)(a)(I)
424		-	AND (4)(a)(II) OF THIS SECTION.
425		-	(IV) N
426		-	INETY PERCENT OF THE AMOUNT SPECIFIED BY THE
427		-	ADMINISTRATOR UNDER SUBSECTION
428		-	(3) OF THIS SECTION, BASED ON THE
429		-	AMOUNT REPORTED BY EACH TREASURER UNDER SUBSECTION
430		-	(2)(b)(I)(A)
431		-	OF THIS SECTION FOR EACH MUNICIPALITY, FIRE DISTRICT, HEALTH SERVICE
432		-	DISTRICT
433		-	, WATER DISTRICT, SANITATION DISTRICT, AND LIBRARY DISTRICT
434		-	THAT HAD AN INCREASE OF TEN PERCENT OR MORE IN THE ASSESSED VALUE
435		-	OF REAL PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON
436		-	JANUARY 1, 2022, TO THE PROPERTY TAX YEAR COMMENCING ON JANUARY
437		-	1, 2023; AND
438		-	(V) THE ENTIRE AMOUNT SPECIFIED BY THE ADMINISTRATOR UNDER
439		-	SUBSECTION
440		-	(3) OF THIS SECTION, BASED ON THE AMOUNT REPORTED BY
441		-	EACH TREASURER UNDER SUBSECTION
442		-	(2)(b)(I)(A) OF THIS SECTION FOR
443		-	EACH MUNICIPALITY
444		-	, FIRE DISTRICT, HEALTH SERVICE DISTRICT, WATER
445		-	DISTRICT
446		-	, SANITATION DISTRICT, AND LIBRARY DISTRICT THAT HAD AN
447		-	INCREASE OF LESS THAN TEN PERCENT IN THE ASSESSED VALUE OF REAL
448		-	PAGE 9-SENATE BILL 22-238 PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
	451	+	3
	452	+	ADMINISTRATOR UNDER SUBSECTION (3) OF THIS SECTION, BASED ON THE4
	453	+	AMOUNT REPORTED BY EACH TREASURER UNDER SUBSECTION (2)(b)(I)(A)5
	454	+	OF THIS SECTION FOR EACH MUNICIPALITY , FIRE DISTRICT, WATER6
	455	+	DISTRICT, SANITATION DISTRICT, AND LIBRARY DISTRICT THAT HAD AN7
	456	+	INCREASE OF LESS THAN TEN PERCENT IN THE ASSESSED VALUE OF REAL8
	457	+	PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,9
449	458		2022,
450	459		TO THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2023.
	460	+	10
451	461		(b) E
452		-	ACH TREASURER SHALL DISTRIBUTE THE TOTAL AMOUNT
453		-	RECEIVED FROM THE STATE TREASURER TO THE LOCAL GOVERNMENTAL
454		-	ENTITIES
455		-	, EXCLUDING SCHOOL DISTRICTS, WITHIN THE TREASURER'S COUNTY
456		-	AS IF THE REVENUES HAD BEEN REGULARLY PAID AS PROPERTY TAX
457		-	, BUT SO
458		-	THAT THE LOCAL GOVERNMENTAL ENTITIES ONLY RECEIVE THE AMOUNTS
459		-	DETERMINED PURSUANT TO SUBSECTION
460		-	(4)(a) OF THIS SECTION.
	462	+	ACH TREASURER SHALL DISTRIBUTE THE TOTAL AMOUNT11
	463	+	RECEIVED FROM THE STATE TREASURER TO THE LOCAL GOVERNMENTAL12
	464	+	ENTITIES, EXCLUDING SCHOOL DISTRICTS , WITHIN THE TREASURER 'S13
	465	+	COUNTY AS IF THE REVENUES HAD BEEN REGULARLY PAID AS PROPERTY14
	466	+	TAX, BUT SO THAT THE LOCAL GOVERNMENTAL ENTITIES ONLY RECEIVE15
	467	+	THE AMOUNTS DETERMINED PURSUANT TO SUBSECTION (4)(a) OF THIS16
	468	+	SECTION.17
461	469		(c) W
462		-	HEN DISTRIBUTING THE MONEY , THE TREASURER SHALL
463		-	PROVIDE EACH LOCAL GOVERNMENTAL ENTITY WITH A STATEMENT OF THE
464		-	AMOUNT DISTRIBUTED TO THE LOCAL GOVERNMENTAL ENTITY THAT
465		-	REPRESENTS THE REIMBURSEMENT RECEIVED UNDER THIS SUBSECTION
466		-	(4).
	470	+	HEN DISTRIBUTING THE MONEY , THE TREASURER SHALL18
	471	+	PROVIDE EACH LOCAL GOVERNMENTAL ENTITY WITH A STATEMENT OF THE19
	472	+	AMOUNT DISTRIBUTED TO THE LOCAL GOVERNMENTAL ENTITY THAT20
	473	+	REPRESENTS THE REIMBURSEMENT RECEIVED UNDER THIS SUBSECTION (4).21
467	474		(d) T
468		-	HE USE OF ADDITIONAL STATE REVENUES PURSUANT TO
469		-	SUBSECTION
470		-	(4)(a) OF THIS SECTION IS A REASONABLE METHOD OF
471		-	REFUNDING A PORTION OF THE EXCESS STATE REVENUES REQUIRED TO BE
472		-	REFUNDED IN ACCORDANCE WITH SECTION
473		-	20 (7)(d) OF ARTICLE X OF THE
474		-	STATE CONSTITUTION
475		-	.
	475	+	HE USE OF ADDITIONAL STATE REVENUES PURSUANT TO22
	476	+	SUBSECTION (4)(a) OF THIS SECTION IS A REASONABLE METHOD OF23
	477	+	REFUNDING A PORTION OF THE EXCESS STATE REVENUES REQUIRED TO BE24
	478	+	REFUNDED IN ACCORDANCE WITH SECTION 20 (7)(d) OF ARTICLE X OF THE25
	479	+	STATE CONSTITUTION.26
476	480		(5) O
477		-	N OR BEFORE MARCH 21, 2024, BASED ON THE ~~INFORMATION~~
478		-	~~AVAILABLE AS OF THAT DATE~~
479		-	, THE PROPERTY TAX ADMINISTRATOR ~~SHALL~~
480		-	SUBMIT A REPORT TO THE GENERAL ASSEMBLY DESCRIBING ~~THE AGGREGATE~~
481		-	REDUCTION OF LOCAL GOVERNMENT PROPERTY TAX ~~REVENUE DURING THE~~
482		-	PROPERTY TAX YEAR COMMENCING ON
483		-	~~JANUARY 1, 2023, AS~~ A RESULT OF
484		-	~~THE CHANGES MADE IN~~
485		-	~~SENATE BILL 22-238, ENACTED IN 2022,~~ THAT
486		-	~~REDUCED VALUATIONS FOR ASSESSMENT SET FORTH~~ PURSUANT TO SECTIONS
487		-	~~39-1-104 (1)(b) AND (1.8)(b), 39-1-104.2~~ (3)(q)(II) ~~AND (3)(r)(II), AND~~
488		-	39-3-104.3 (2).
	481	+	N OR BEFORE MARCH 21, 2024, BASED ON THE INFORMATION27
	482	+	238
	483	+	-13- AVAILABLE AS OF THAT DATE, THE PROPERTY TAX ADMINISTRATOR SHALL1
	484	+	SUBMIT A REPORT TO THE GENERAL ASSEMBLY DESCRIBING THE2
	485	+	AGGREGATE REDUCTION OF LOCAL GOVERNMENT PROPERTY TAX REVENUE3
	486	+	DURING THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2023, AS4
	487	+	A RESULT OF THE CHANGES MADE IN SENATE BILL 22-238, ENACTED IN5
	488	+	2022,
	489	+	THAT REDUCED VALUATIONS FOR ASSESSMENT SET FORTH6
	490	+	PURSUANT TO SECTIONS 39-1-104 (1)(b) AND (1.8)(b), 39-1-104.27
	491	+	(3)(q)(II)
	492	+	AND (3)(r)(II), AND 39-3-104.3 (2).8
489	493		(6) T
490		-	HIS SECTION IS REPEALED, EFFECTIVE JULY 1, 2025.
491		-	SECTION 6. In Colorado Revised Statutes, 22-54-114, add (9) as
492		-	follows:
	494	+	HIS SECTION IS REPEALED, EFFECTIVE JULY 1, 2025.9
	495	+	SECTION 6. In Colorado Revised Statutes, 22-54-114, add (9)10
	496	+	as follows:11
493	497		22-54-114. State public school fund - repeal. (9) (a) O
494		-	N JULY 1,
495		-	2022,
496		-	THE STATE TREASURER SHALL TRANSFER TWO HUNDRED MILLION
497		-	DOLLARS FROM THE GENERAL FUND TO THE STATE PUBLIC SCHOOL FUND FOR
498		-	THE PURPOSE OF OFFSETTING REDUCTIONS IN SCHOOL DISTRICT PROPERTY
499		-	PAGE 10-SENATE BILL 22-238 TAX REVENUE.
	498	+	N JULY12
	499	+	1,
	500	+	2022, THE STATE TREASURER SHALL TRANSFER TWO HUNDRED MILLION13
	501	+	DOLLARS FROM THE GENERAL FUND TO THE STATE
	502	+	PUBLIC SCHOOL FUND14
	503	+	FOR THE PURPOSE OF OFFSETTING REDUCTIONS IN SCHOOL DISTRICT15
	504	+	PROPERTY TAX REVENUE.16
500	505		(b) T
501		-	HIS SUBSECTION (9) IS REPEALED, EFFECTIVE JULY 1, 2023.
502		-	SECTION 7. Safety clause. The general assembly hereby finds,
503		-	determines, and declares that this act is necessary for the immediate
504		-	preservation of the public peace, health, or safety.
505		-	____________________________ ____________________________
506		-	Steve Fenberg Alec Garnett
507		-	PRESIDENT OF SPEAKER OF THE HOUSE
508		-	THE SENATE OF REPRESENTATIVES
509		-	____________________________ ____________________________
510		-	Cindi L. Markwell Robin Jones
511		-	SECRETARY OF CHIEF CLERK OF THE HOUSE
512		-	THE SENATE OF REPRESENTATIVES
513		-	APPROVED________________________________________
514		-	(Date and Time)
515		-	_________________________________________
516		-	Jared S. Polis
517		-	GOVERNOR OF THE STATE OF COLORADO
518		-	PAGE 11-SENATE BILL 22-238
	506	+	HIS SUBSECTION (9) IS REPEALED JULY 1, 2023.17
	507	+	SECTION 7. Safety clause. The general assembly hereby finds,18
	508	+	determines, and declares that this act is necessary for the immediate19
	509	+	preservation of the public peace, health, or safety.20
	510	+	238
	511	+	-14-