First Extraordinary Session
Seventy-fourth General Assembly
STATE OF COLORADO
INTRODUCED
LLS NO. 23B-0023.01 Megan McCall x4215
HOUSE BILL 23B-1005
House Committees Senate Committees
Transportation, Housing & Local Government
A BILL FOR AN ACT
C
ONCERNING TAX RELIEF , AND, IN CONNECTION THEREWITH ,101
PROVIDING TEMPORARY PROPERTY TAX REDUCTIONS FOR THE102
2023
PROPERTY TAX YEAR , PROVIDING TEMPORARY INCOME103
TAX REDUCTIONS FOR THE 2023 INCOME TAX YEAR , AND104
ESTABLISHING A TEMPORARY TASK FORCE TO MAKE105
RECOMMENDATIONS CONCERNING PROPERTY TAXATION .106
Bill Summary
(Note: This summary applies to this bill as introduced and does
not reflect any amendments that may be subsequently adopted. If this bill
passes third reading in the house of introduction, a bill summary that
applies to the reengrossed version of this bill will be available at
http://leg.colorado.gov
.)
Section 2 of the bill, for property tax year 2023, reduces the
HOUSE SPONSORSHIP
Lynch, Armagost, Bockenfeld, Bradfield, Evans, Frizell, Hartsook, Pugliese, Soper,
Taggart, Weinberg, Wilson, Winter T.
SENATE SPONSORSHIP
Pelton B., Gardner, Kirkmeyer, Liston, Lundeen, Pelton R., Rich, Simpson, Smallwood,
Van Winkle, Will
Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
Capital letters or bold & italic numbers indicate new material to be added to existing law.
Dashes through the words or numbers indicate deletions from existing law. valuation for assessment to 25% for lodging property and non-residential
property that is not lodging, agricultural, or renewable energy production
property, producing mines, or lands or leaseholds producing oil and gas.
Additionally, the valuation of assessment for lodging property and
improved commercial property is 25% of an amount equal to the actual
value minus the lesser of $60,000 or the amount that reduces the
valuation for assessment to $1,000.
Sections 3 and 4, for property tax year 2023, reduce the valuation
for assessment for multi-family residential real property and residential
real property that is not multi-family to 6.5% of the amount equal to the
actual value of such property minus the lesser of $80,000 or the amount
that causes the valuation for assessment of the property to be $1,000.
Section 5 makes a conforming amendment.
Sections 6 and 7 modify the backfill mechanism established by
Senate Bill 22-238 to offset reductions in local governmental entities'
property tax revenue in order to require the backfill to be paid with
unrestricted money in the general fund, including money that would
otherwise have been required to be retained as a reserve to the
unrestricted general fund year-end balance for the state fiscal year
2022-23. Additionally, the process established by Senate Bill 22-238
requires that the state treasurer issue a warrant to county treasurers for
disbursement to local governmental entities no later than April 15, 2024.
Section 6 also allows the warrant to be expedited if a county treasurer
completes the reporting requirements regarding property tax revenue lost
to local governmental entities on or before February 15, 2024.
Section 8 creates the property tax task force (task force). The task
force consists of both members of the general assembly and individuals
who are not members of the general assembly. The purpose of the task
force is to develop a permanent and sustainable tax structure for the state
of Colorado. The task force is required to:
! Convene by December 1, 2023;
! Meet as many times as necessary in 2023; and
! Submit a report by December 31, 2023 to the finance
committees of the house of representatives and the senate.
After the task force makes its report the task force is disbanded.
Sections 9, 10, and 11, for the income tax year commencing on
January 1, 2023, reduce both the individual and the corporate state
income tax rates from 4.40% to 4% and exempt the rate reductions from
the existing statutory requirements that tax expenditure legislation include
a tax preference performance statement in a statutory legislative
declaration.
Sections 12, 15, 16, 17, 18, and 19 delay several property tax
deadlines for the 2023 property tax year.
Sections 13 and 14 modify provisions in the "Local Government
Budget Law of Colorado" for the 2024 fiscal year to account for impacts
HB23B-1005
-2- on a local government's budget due to changes to the assessed valuation
of property within the local government's boundaries pursuant to the bill.
Section 22 waives the accrual of interest on delinquent property
tax payments for the first payment of property taxes for the 2023 property
tax year if a payment is made within 10 days after the mailing by the
county treasurer of the property taxpayer's tax statement or notification of
an electronic statement.
Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. Short title. The short title of this act is the "Honest2
Tax Relief for Colorado Taxpayers Act".3
SECTION 2. In Colorado Revised Statutes, 39-1-104, amend4
(1)(b) and (1.8)(b) as follows:5
39-1-104. Valuation for assessment - definitions.6
(1) (b) Notwithstanding subsection (1)(a) of this section, for the property7
tax year commencing on January 1, 2023, the valuation for assessment of8
nonresidential property that is classified as lodging property is9
temporarily reduced to twenty-seven and nine-tenths
TWENTY-FIVE10
percent of an amount equal to the actual value minus the lesser of thirty11
SIXTY thousand dollars or the amount that reduces the valuation for12
assessment to one thousand dollars.13
(1.8) (b) The valuation for assessment of all nonresidential14
property that is not specified in subsection (1) or (1.8)(a) of this section15
is twenty-nine percent of the actual value thereof; except that, for the16
property tax year commencing on January 1, 2023, the valuation for17
assessment of this property is temporarily reduced to:18
(I) For all of the property listed by the assessor under any19
improved commercial subclass codes, twenty-seven and nine-tenths20
TWENTY-FIVE percent of an amount equal to the actual value minus the21
lesser of thirty SIXTY thousand dollars or the amount that reduces the22
HB23B-1005-3- valuation for assessment to one thousand dollars; and1
(II) Twenty-seven and nine-tenths TWENTY-FIVE percent of the2
actual value of all other nonresidential property that is not specified in3
subsections (1), (1.8)(a), and (1.8)(b)(I) of this section.4
SECTION 3. In Colorado Revised Statutes, 39-1-104.2, amend5
(3)(q) introductory portion, (3)(q)(II), (3)(r) introductory portion, and6
(3)(r)(II) as follows:7
39-1-104.2. Residential real property - valuation for8
assessment - legislative declaration - definitions. (3) (q) The ratio of9
valuation for assessment for multi-family residential real property is 7.1510
percent of
THE actual value OF THE PROPERTY for property tax years11
commencing on or after January 1, 2019; except that
THE VALUATION FOR12
ASSESSMENT OF THIS PROPERTY IS TEMPORARILY REDUCED AS FOLLOWS :13
(II) For the property tax year commencing on January 1, 2023, the14
ratio of
valuation for assessment for multi-family residential real property15
is temporarily reduced to 6.765 percent 6.5 PERCENT of actual value.16
(r) The ratio of valuation for assessment for all residential real17
property other than multi-family residential real property is 7.15 percent18
of
THE actual value OF THE PROPERTY; except that THE VALUATION FOR19
ASSESSMENT OF THIS PROPERTY IS TEMPORARILY REDUCED AS FOLLOWS : 20
(II) For the property tax year commencing on January 1, 2023, the21
ratio of
valuation for assessment for all residential real property other22
than multi-family residential real property is 6.765 percent 6.5 PERCENT23
of actual value; and24
SECTION 4. In Colorado Revised Statutes, 39-1-104.3, amend25
(2) as follows:26
39-1-104.3. Partial real property tax reductions - residential27
HB23B-1005
-4- property - definitions - repeal. (2) For the property tax year1
commencing on January 1, 2023, the valuation for assessment for2
residential real property is six and seven hundred sixty-five thousandths3
SIX AND ONE-HALF percent, as set forth in section 39-1-104.2 (3)(q)(II)4
and (3)(r)(II), of the amount equal to the actual value, determined5
pursuant to section 39-1-103, minus the lesser of fifteen EIGHTY thousand6
dollars or the amount that reduces the valuation for assessment to one7
thousand dollars.8
SECTION 5. In Colorado Revised Statutes, 39-1-104.4, amend9
(1) introductory portion and (1)(a) as follows:10
39-1-104.4. Adjustment of residential rate. (1) The ratio of11
valuation for assessment for residential real property other than12
multi-family residential real property for the property tax year13
commencing on January 1, 2024, is equal to the percentage necessary for14
the following to equal a total of seven hundred million dollars:15
(a) The aggregate reduction of local government property tax16
revenue during the property tax year commencing on January 1, 2023, as17
a result of the changes made in Senate Bill 22-238,
AS enacted in 2022,18
EXCLUSIVE OF ANY CHANGES MADE IN THIS HOUSE BILL 23B-____,19
ENACTED IN 2023, that reduced valuations for assessment set forth20
pursuant to sections 39-1-104 (1)(b) and (1.8)(b), 39-1-104.2 (3)(q)(II)21
and (3)(r)(II), and 39-3-104.3 (2); and22
SECTION 6. In Colorado Revised Statutes, 39-3-210, amend23
(2)(a), (2)(b)(I)(A), (2)(b)(II), (4)(a) introductory portion, and (5); repeal24
(1)(a) and (4)(d); and add (1)(d.5), (2)(c), (2)(d), (4)(e), (4)(f), and (4.5)25
as follows:26
39-3-210. Reporting of property tax revenue reductions -27
HB23B-1005
-5- reimbursement of local governmental entities - definitions - local1
government backfill cash fund - creation - repeal. (1) As used in this2
section, unless the context otherwise requires:3
(a) "Additional state revenues" means the lesser of two hundred4
forty million dollars or the total amount of the state revenues in excess of5
the limitation on state fiscal year spending imposed by section 20 (7)(a)6
of article X of the state constitution that the state is required to refund7
under section 20 (7)(d) of article X of the state constitution, including any8
amount specified in section 24-77-103.8, that exceeds the amounts9
projected to be refunded as required by sections 39-3-209 and 39-22-62710
for the state fiscal year commencing on July 1, 2022.11
(d.5) "L
OCAL GOVERNMENTAL ENTITY " MEANS A GOVERNMENTAL12
ENTITY AUTHORIZED BY LAW TO IMPOSE AD VALOREM TAXES ON TAXABLE13
PROPERTY LOCATED WITHIN ITS TERRITORIAL LIMITS ; EXCEPT THAT THE14
TERM EXCLUDES SCHOOL DISTRICTS .15
(2) (a) For the property tax year commencing on January 1, 2023,16
for counties with a population of three hundred thousand or less as17
determined pursuant to the most recently published population estimates18
from the state demographer appointed by the executive director of the19
department of local affairs:20
(I) Each treasurer shall calculate the total property tax revenues21
lost by each local governmental entity, excluding school districts, within22
the treasurer's county as a result of the changes made in Senate Bill23
22-238, enacted in 2022,
AND THIS HOUSE BILL 23B-____, ENACTED IN24
2023, that reduced valuations for assessment; set forth pursuant to
25
sections 39-1-104 (1)(b) and (1.8)(b), 39-1-104.2 (3)(q)(II) and (3)(r)(II),26
and 39-3-104.3 (2) and27
HB23B-1005
-6- (II) Each assessor shall calculate the difference in assessed value1
of real property for
EACH LOCAL GOVERNMENTAL ENTITY FOR the property2
tax year commencing on January 1, 2022, and the property tax year3
commencing on January 1, 2023, within the assessor's county.4
(b) For the property tax year commencing on January 1, 2023, for5
counties with a population greater than three hundred thousand as6
determined pursuant to the most recently published population estimates7
from the state demographer appointed by the executive director of the8
department of local affairs:9
(I) (A) Each treasurer shall calculate, for each municipality, fire10
district, health service district, water district, sanitation district, and11
library district, the aggregate reduction of local government property tax12
revenue during the property tax year commencing on January 1, 2023, as13
a result of the changes made in Senate Bill 22-238, enacted in 2022,
AND14
THIS HOUSE BILL 23B-___, ENACTED IN 2023, that reduced valuations for15
assessment; set forth pursuant to sections 39-1-104 (1)(b) and (1.8)(b),
16
39-1-104.2 (3)(q)(II) and (3)(r)(II), and 39-3-104.3 (2);17
(II) Each treasurer shall calculate, for all local governmental18
entities besides municipalities, fire districts, health service districts, water19
districts, sanitation districts, school districts, and library districts, the20
aggregate reduction of local government property tax revenue during the21
property tax year commencing on January 1, 2023, as a result of the22
changes made in Senate Bill 22-238, enacted in 2022,
AND THIS HOUSE23
B
ILL 23B-___, ENACTED IN 2023, that reduced valuations for assessment.24
set forth pursuant to sections 39-1-104 (1)(b) and (1.8)(b), 39-1-104.2
25
(3)(q)(II) and (3)(r)(II), and 39-3-104.3 (2).26
(c) W
HEN CALCULATING THE TOTAL PROPERTY TAX REVENUE27
HB23B-1005
-7- REDUCTION FOR A LOCAL GOVERNMENTAL ENTITY FOR THE PROPERTY TAX1
YEAR COMMENCING ON JANUARY 1, 2023, AS REQUIRED BY THIS2
SUBSECTION (2), A TREASURER SHALL USE THE LOCAL GOVERNMENTAL3
ENTITY'S MILL LEVY FOR THE PROPERTY TAX YEAR COMMENCING ON4
J
ANUARY 1, 2022, EXCLUDING ANY MILLS LEVIED TO PROVIDE FOR THE5
PAYMENT OF BONDS AND INTEREST THEREON OR FOR THE PAYMENT OF6
ANY OTHER CONTRACTUAL OBLIGATION THAT HAS BEEN APPROVED BY A7
MAJORITY OF THE LOCAL GOVERNMENTAL ENTITY 'S VOTERS VOTING8
THEREON. 9
(d) F
OR PURPOSES OF THIS SECTION, A LOCAL GOVERNMENTAL10
ENTITY WITHIN A COUNTY INCLUDES THE COUNTY ITSELF .11
(4) (a) No later than April 15, 2024, the state treasurer shall issue12
a warrant, to be paid upon demand from additional state revenues for the
13
state fiscal year commencing on July 1, 2022, and, if necessary, from14
other UNRESTRICTED money in the general fund, to each treasurer that is15
equal to the total of: 16
(d) The use of additional state revenues pursuant to subsection17
(4)(a) of this section is a reasonable method of refunding a portion of the18
excess state revenues required to be refunded in accordance with section19
20 (7)(d) of article X of the state constitution.20
(e) I
F A LOCAL GOVERNMENTAL ENTITY IS LOCATED IN MORE THAN21
ONE COUNTY, THEN THE PART LOCATED IN EACH COUNTY IS TREATED LIKE22
ANY OTHER LOCAL GOVERNMENTAL ENTITY LOCATED WITHIN THE C OUNTY23
FOR THE PURPOSE OF DETERMINING THE REIMBURSEMENT AMOUNT UNDER24
SUBSECTION (4)(a) OF THIS SECTION.25
(f) T
HE STATE TREASURER SHALL REDUCE A LOCAL26
GOVERNMENTAL ENTITY 'S REIMBURSEMENT AS NECESSARY TO PREVENT27
HB23B-1005
-8- THE LOCAL GOVERNMENTAL ENTITY FROM EXCEEDING ITS FISCAL YEAR1
SPENDING LIMIT UNDER SECTION 20 (7)(b) OF ARTICLE X OF THE STATE2
CONSTITUTION FOR THE FISCAL YEAR.3
(4.5) N
OTWITHSTANDING THE TIMING SET FORTH IN SUBSECTIONS4
(3)
AND (4)(a) OF THIS SECTION, IF A COUNTY TREASURER REPORTS THE5
AMOUNTS SPECIFIED IN SUBSECTION (2) OF THIS SECTION IN ACCORDANCE6
WITH SUBSECTION (3) OF THIS SECTION ON OR BEFORE FEBRUARY 15, 2024,7
THE STATE TREASURER SHALL ISSUE A WARRANT IN ACCORDANCE WITH8
SUBSECTION (4)(a) OF THIS SECTION NO LATER THAN FEBRUARY 29, 2024,9
AND THE COUNTY TREASURERS SHALL DISTRIBUTE THE TOTAL AMOUNT10
RECEIVED FROM THE STATE TREASURER TO THE LOCAL GOVERNMENTAL11
ENTITIES IN ACCORDANCE WITH SUBSECTIONS (4)(b) AND (4)(c) OF THIS12
SECTION ON OR BEFORE MARCH 10, 2024. 13
(5) On or before March 21, 2024, based on the information14
available as of that date, the property tax administrator shall submit a15
report to the general assembly describing the aggregate reduction of local16
government property tax revenue during the property tax year17
commencing on January 1, 2023, as a result of the changes made in18
Senate Bill 22-238, enacted in 2022,
AND THIS HOUSE BILL 23B-___,19
ENACTED IN 2023, that reduced valuations for assessment. set forth
20
pursuant to sections 39-1-104 (1)(b) and (1.8)(b), 39-1-104.2 (3)(q)(II)21
and (3)(r)(II), and 39-3-104.3 (2).22
SECTION 7. In Colorado Revised Statutes, 24-75-201.1, amend23
(1)(d)(XXII) and (1)(d)(XXIII); and add (1)(d)(XXIV) as follows:24
24-75-201.1. Restriction on state appropriations - legislative25
declaration - definitions. (1) (d) For each fiscal year, unrestricted26
general fund year-end balances must be retained as a reserve in the27
HB23B-1005
-9- following amounts:1
(XXII) For the fiscal year 2021-22, thirteen and four-tenths2
percent of the amount appropriated for expenditure from the general fund3
for that fiscal year; and4
(XXIII) For the fiscal year 2022-23, and each fiscal year5
thereafter, fifteen TEN AND FOUR-TENTHS percent of the amount6
appropriated for expenditure from the general fund for that fiscal year;7
AND8
(XXIV) F
OR THE FISCAL YEAR 2023-24 AND EACH FISCAL YEAR9
THEREAFTER, FIFTEEN PERCENT OF THE AMOUNT APPROPRIATED FOR10
EXPENDITURE FROM THE GENERAL FUND FOR THAT FISCAL YEAR .11
SECTION 8. In Colorado Revised Statutes, add 39-1-125 as12
follows:13
39-1-125. Property tax task force - creation - powers and14
duties - report - repeal. (1) N
OTWITHSTANDING SECTION 2-3-303.3,15
THERE IS CREATED IN THE LEGISLATIVE BRANCH THE PROPERTY TAX TASK16
FORCE, REFERRED TO IN THIS SECTION AS THE "TASK FORCE". THE TASK17
FORCE SHALL MEET IN 2023 ONLY TO DEVELOP A PERMANENT AND18
SUSTAINABLE PROPERTY TAX STRUCTURE FOR THE STATE OF COLORADO.19
(2) T
HE TASK FORCE CONSISTS OF THE FOLLOWING TWENTY -TWO20
MEMBERS:21
(a) S
EVENTEEN VOTING MEMBERS CONSISTING OF :22
(I) T
HREE MEMBERS FROM THE HOUSE OF REPRESENTATIVES WITH23
EXPERIENCE IN LOCAL GOVERNMENT , TWO OF WHOM MUST BE APPOINTED24
BY THE SPEAKER OF THE HOUSE OF REPRESENTATIVES AND ONE OF WHOM25
MUST BE APPOINTED BY THE MINORITY LEADER OF THE HOUSE OF26
REPRESENTATIVES;27
HB23B-1005
-10- (II) THREE MEMBERS FROM THE SENATE WITH EXPERIENCE IN1
LOCAL GOVERNMENT , TWO OF WHOM MUST BE APPOINTED BY THE2
PRESIDENT OF THE SENATE AND ONE OF WHOM MUST BE APPOINTED BY THE3
MINORITY LEADER OF THE SENATE;4
(III) T
HE PROPERTY TAX ADMINISTRATOR IN THE DIVISION OF5
PROPERTY TAXATION OF THE DEPARTMENT OF LOCAL AFFAIRS ;6
(IV) O
NE INDIVIDUAL WITH EXPERIENCE IN LOCAL GOVERNMENT ,7
APPOINTED BY A STATEWIDE ORGANIZATION REPRESENTING8
MUNICIPALITIES AND LOCAL GOVERNMENTS ;9
(V) O
NE INDIVIDUAL WHO HAS SERVED AS A COUNTY ASSESSOR ,10
APPOINTED BY THE COLORADO ASSESSORS' ASSOCIATION;11
(VI) O
NE INDIVIDUAL WITH EXPERIENCE IN SPECIAL DISTRICTS ,12
APPOINTED BY THE SPECIAL DISTRICT ASSOCIATION OF COLORADO; 13
(VII) T
WO INDIVIDUALS WHO HAVE SERVED ON A LOCAL SCHOOL14
BOARD, APPOINTED BY THE COLORADO ASSOCIATION OF SCHOOL BOARDS;15
AND16
(VIII) T
HE FOLLOWING COUNTY COMMISSIONERS , APPOINTED BY17
A STATEWIDE ORGANIZATION REPRESENTING THE MAJORITY OF THE18
COUNTIES IN COLORADO AND REPRESENTING THE FOLLOWING REGIONS AS19
DEFINED IN SECTION 26-5-103.5 (2)(d):20
(A) O
NE COUNTY COMMISSIONER FROM THE EASTERN REGION OF21
C
OLORADO;22
(B) O
NE COUNTY COMMISSIONER FROM THE FRONT RANGE REGION23
OF COLORADO;24
(C) O
NE COUNTY COMMISSIONER FROM THE MOUNTAIN REGION OF25
C
OLORADO;26
(D) O
NE COUNTY COMMISSIONER FROM THE SOUTHERN REGION OF27
HB23B-1005
-11- COLORADO; AND1
(E) O
NE COUNTY COMMISSIONER FROM THE WESTERN REGION OF2
C
OLORADO;3
(b) F
IVE NONVOTING MEMBERS CONSISTING OF :4
(I) O
NE INDIVIDUAL APPOINTED BY COLORADO CONCERN;5
(II) O
NE INDIVIDUAL APPOINTED BY THE COLORADO APARTMENT6
A
SSOCIATION;7
(III) O
NE INDIVIDUAL APPOINTED BY THE COLORADO CHAMBER OF8
C
OMMERCE;9
(IV) O
NE INDIVIDUAL APPOINTED BY THE BUILDING OWNERS AND10
M
ANAGERS ASSOCIATION INTERNATIONAL; AND11
(V) O
NE INDIVIDUAL APPOINTED BY THE COMMERCIAL REAL12
E
STATE DEVELOPMENT ASSOCIATION.13
(3) (a) A
LL APPOINTMENTS DESCRIBED IN SUBSECTION (2) OF THIS14
SECTION MUST BE MADE NO LATER THAN NOVEMBER 27, 2023. MEMBERS15
OF THE TASK FORCE SERVE AT THE PLEASURE OF THE APPLICABLE16
APPOINTING AUTHORITY OR UNTIL THE MEMBER NO LONGER SERVES IN THE17
POSITION FOR WHICH THAT MEMBER WAS APPOINTED TO THE TASK FORCE ,18
AT WHICH TIME A VACANCY IS DEEMED TO EXIST ON THE TASK FORCE . IF19
A VACANCY ARISES ON THE TASK FORCE , THE APPROPRIATE APPOINTING20
AUTHORITY SHALL APPOINT A REPLACEMENT MEMBER THAT MEETS THE21
REQUIREMENTS SET FORTH IN SUBSECTION (2) OF THIS SECTION FOR THE22
VACANT POSITION.23
(b) T
HE TASK FORCE SHALL ELECT A CHAIR AND A VICE -CHAIR AT24
THE FIRST MEETING, WHICH MUST BE HELD ON OR BEFORE DECEMBER 1,25
2023. T
HE CHAIR MUST BE FROM THE SENATE AND THE VICE -CHAIR MUST26
BE FROM THE HOUSE OF REPRESENTATIVES .27
HB23B-1005
-12- (4) THE TASK FORCE SHALL MEET AS MANY TIMES AS NECESSARY1
TO DELIVER A REPORT IN ACCORDANCE WITH SUBSECTION (6) OF THIS2
SECTION. TASK FORCE MEETINGS MUST BE OPEN TO THE PUBLIC , AND THE3
TASK FORCE SHALL SOLICIT THE TESTIMONY OF THE MEMBERS OF THE4
PUBLIC.5
(5) T
HE MEMBERS OF THE TASK FORCE APPOINTED PURSUANT TO6
SUBSECTIONS (2)(a)(I) AND (2)(a)(II) OF THIS SECTION ARE ENTITLED TO7
RECEIVE COMPENSATION AND REIMBURSEMENT OF EXPENSES AS PROVIDED8
IN SECTION 2-2-326.9
(6) T
HE TASK FORCE SHALL MAKE A REPORT TO THE HOUSE OF10
REPRESENTATIVES FINANCE COMMITTEE AND THE SENATE FINANCE11
COMMITTEE, OR THEIR SUCCESSOR COMMITTEES , NO LATER THAN12
D
ECEMBER 31, 2023. THE TASK FORCE IS DISBANDED AFTER IT MAKES ITS13
REPORT.14
(7) T
HE PURPOSES OF THE TASK FORCE ARE TO:15
(a) I
DENTIFY THE CAUSES OF INCREASINGLY BURDENSOME16
PROPERTY TAXES ACROSS COLORADO;17
(b) R
EVIEW BEST PRACTICES IN PUBLIC POLICY STRATEGIES THAT18
CREATE SHORT-TERM AND LONG -TERM PROPERTY TAX RELIEF FOR19
HOMEOWNERS AND BUSINESSES , WHILE PREVENTING LAPSES IN THE20
ADMINISTRATION OF PUBLIC SERVICES BY LOCAL GOVERNMENTS THAT21
RELY ON PROPERTY TAX REVENUE TO PROVIDE SUCH PUBLIC SERVICES ;22
AND23
(c) M
AKE RECOMMENDATIONS TO ASSIST IN THE DEVELOPMENT OF24
SHORT-TERM AND LONG-TERM LEGISLATIVE CHANGES NEEDED TO CREATE25
SHORT-TERM AND LONG-TERM PROPERTY TAX RELIEF FOR HOMEOWNERS26
AND BUSINESSES.27
HB23B-1005
-13- (8) THE DIRECTOR OF RESEARCH OF THE LEGISLATIVE COUNCIL1
AND THE DIRECTOR OF THE OFFICE OF LEGISLATIVE LEGAL SERVICES SHALL2
SUPPLY STAFF ASSISTANCE TO THE TASK FORCE AS THEY DEEM3
APPROPRIATE, WITHIN EXISTING APPROPRIATIONS.4
(9) T
HIS SECTION IS REPEALED, EFFECTIVE JULY 1, 2025.5
SECTION 9. In Colorado Revised Statutes, 39-21-304, amend6
(1)(a) as follows:7
39-21-304. Tax expenditure - tax preference performance8
statement - tax expenditure repeal requirement. (1) (a) On and after9
January 1, 2021,
UNLESS OTHERWISE PROVIDED BY LAW , any bill that10
creates a new tax expenditure or extends an expiring tax expenditure must11
include a tax preference performance statement as part of a statutory12
legislative declaration.13
SECTION 10. In Colorado Revised Statutes, 39-22-104, amend14
(1.7)(c) and (2); and add (1.9) as follows:15
39-22-104. Income tax imposed on individuals, estates, and16
trusts - single rate - report - legislative declaration - definitions -17
repeal. (1.7) (c) Except as otherwise provided in section 39-22-627,
18
Subject to subsection (2) of this section, with respect to
THE taxable years
19
YEAR commencing on or after January 1, 2022, AND TAXABLE YEARS20
COMMENCING ON OR AFTER JANUARY 1, 2024, a tax of four and forty21
one-hundredths percent is imposed on the federal taxable income, as22
determined pursuant to section 63 of the internal revenue code, of every23
individual, estate, and trust.24
(1.9) (a) S
UBJECT TO SUBSECTION (2) OF THIS SECTION, WITH25
RESPECT TO THE TAXABLE YEAR COMMENCING ON JANUARY 1, 2023, A26
TAX OF FOUR PERCENT IS IMPOSED ON THE FEDERAL TAXABLE INCOME , AS27
HB23B-1005
-14- DETERMINED PURSUANT TO SECTION 63 OF THE INTERNAL REVENUE CODE,1
OF EVERY INDIVIDUAL, ESTATE, AND TRUST.2
(b) T
HE RATE REDUCTION SET FORTH IN SUBSECTION (1.9)(a) OF3
THIS SECTION IS NOT SUBJECT TO THE REQUIREMENTS SET FORTH IN4
SECTION 39-21-304 (1)(a).5
(2) Prior to the application of the rate of tax prescribed in6
subsection (1), (1.5), or
(1.7), OR (1.9) of this section, the federal taxable7
income shall be modified as provided in subsections (3) and (4) of this8
section.9
SECTION 11. In Colorado Revised Statutes, 39-22-301, amend10
(1)(d)(I)(K); and add (1)(d)(I)(L) as follows:11
39-22-301. Corporate tax imposed - repeal. (1) (d) (I) A tax is12
imposed upon each domestic C corporation and foreign C corporation13
doing business in Colorado annually in an amount of the net income of14
such C corporation during the year derived from sources within Colorado15
as set forth in the following schedule of rates:16
(K) Except as otherwise provided in section 39-22-627, For THE17
income tax years YEAR commencing on or after January 1, 2022, AND FOR18
INCOME TAX YEARS COMMENCING ON OR AFTER JANUARY 1, 2024, four19
and forty one-hundredths percent of the Colorado net income;
AND20
(L) F
OR THE INCOME TAX YEAR COMMENCING ON JANUARY 1,21
2023,
FOUR PERCENT OF THE COLORADO NET INCOME . THE RATE22
REDUCTION SET FORTH IN THIS SUBSECTION (1)(d)(I)(L) IS NOT SUBJECT TO23
THE REQUIREMENTS SET FORTH IN SECTION 39-21-304 (1)(a).24
SECTION 12. In Colorado Revised Statutes, 22-40-102, amend25
(3) and (6) as follows:26
22-40-102. Certification - tax revenues - repeal. (3) (a) The27
HB23B-1005
-15- board of education of a school district which THAT had an actual1
enrollment of more than fifty thousand pupils during the preceding school2
year may make the certification provided for in subsection (1) of this3
section no later than December 15.4
(b) (I) F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY5
1,
2023, THE DEADLINE SET FORTH IN SUBSECTION (3)(a) OF THIS SECTION6
IS POSTPONED FROM DECEMBER 15, 2023, TO JANUARY10, 2024.7
(II) T
HIS SUBSECTION (3)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.8
(6) (a) Each school district, with such assistance as may be9
required from the department of education, shall inform the county10
treasurer for each county within the district's boundaries no later than11
December 15 of each year of said district's general fund mill levy in the12
absence of funds estimated to be received by said district pursuant to the13
"Public School Finance Act of 1994", article 54 of this title
TITLE 22, and14
the estimated funds to be received for the general fund of the district from15
the state.16
(b) (I) F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY17
1,
2023, THE DEADLINE SET FORTH IN SUBSECTION (6)(a) OF THIS SECTION18
IS POSTPONED FROM DECEMBER 15, 2023, TO JANUARY10, 2024.19
(II) T
HIS SUBSECTION (6)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.20
SECTION 13. In Colorado Revised Statutes, 29-1-108, amend21
(4) as follows:22
29-1-108. Adoption of budget - appropriations - failure to23
adopt - repeal. (4) (a) If the appropriations for the budget year have not24
been made by December 31 of the current fiscal year, then ninety percent25
of the amount appropriated in the current fiscal year for operation and26
maintenance expenses shall be deemed reappropriated for the budget27
HB23B-1005
-16- year.1
(b) (I) A
PPROPRIATIONS FOR THE 2024 BUDGET YEAR, IF SUCH2
APPROPRIATIONS ARE IMPACTED DUE TO CHANGES TO THE ASSESSED3
VALUATION OF PROPERTY WITHIN THE LOCAL GOVERNMENT 'S BOUNDARIES4
MADE PURSUANT TO THIS HOUSE BILL 23B-____, ENACTED IN 2023, MAY5
BE MADE NOTWITHSTANDING SUBSECTION (4)(a) OF THIS SECTION AND DO6
NOT CONSTITUTE A CHANGE TO THE LOCAL GOVERNMENT 'S ADOPTED7
BUDGET REQUIRING COMPLIANCE WITH SECTION 29-1-109.8
(II) T
HIS SUBSECTION (4)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.9
SECTION 14. In Colorado Revised Statutes, 29-1-109, amend10
(2)(a) and (2)(c) as follows:11
29-1-109. Changes to budget - transfers - supplemental12
appropriations - repeal. (2) (a) (I) Any transfer, supplemental13
appropriation, or revised appropriation made pursuant to this section shall14
be made only by ordinance or resolution which complies with the notice15
provisions of section 29-1-106.16
(II) (A) N
OTWITHSTANDING SUBSECTION (2)(a)(I) OF THIS17
SECTION, IF AFTER ADOPTION OF A BUDGET ON OR BEFORE DECEMBER 31,18
2023,
FOR THE 2024 FISCAL YEAR, AN ORDINANCE OR RESOLUTION MAKING19
A TRANSFER, SUPPLEMENTAL APPROPRIATION, OR REVISED APPROPRIATION20
IS REQUIRED PURSUANT TO THIS SECTION DUE TO THE CHANGES TO THE21
ASSESSED VALUATION OF PROPERTY WITHIN THE LOCAL GOVERNMENT 'S22
BOUNDARIES PURSUANT TO THIS HOUSE BILL 23B-____, ENACTED IN 2023,23
THE ORDINANCE OR RESOLUTION DOES NOT NEED TO COMPLY WITH THE24
NOTICE PROVISIONS OF SECTION 29-1-106.25
(B) T
HIS SUBSECTION (2)(a)(II) IS REPEALED, EFFECTIVE JULY 1,26
2025.27
HB23B-1005
-17- (c) (I) For supplemental budgets and appropriations, such1
ordinance or resolution shall set forth in full the source and amount of2
such revenue, the purpose for which such revenues are being budgeted3
and appropriated, and the fund or spending agency which shall make such4
supplemental expenditure. A certified copy of such ordinance or5
resolution shall be filed with the division.6
(II) (A) F
OR THE 2024 FISCAL YEAR, FOR SUPPLEMENTAL BUDGETS7
AND APPROPRIATIONS REQUIRED DUE TO THE CHANGES TO THE ASSESSED8
VALUATION OF PROPERTY WITHIN THE LOCAL GOVERNMENT 'S BOUNDARIES9
PURSUANT TO THIS HOUSE BILL 23B-____, ENACTED IN 2023, SUCH10
CHANGES ARE A SUFFICIENT PURPOSE TO SATISFY THE REQUIREMENTS SET11
FORTH IN SUBSECTION (2)(c)(I) OF THIS SECTION.12
(B) T
HIS SUBSECTION (2)(c)(II) IS REPEALED, EFFECTIVE JULY 1,13
2025.14
SECTION 15. In Colorado Revised Statutes, 39-1-111, amend15
(1) and (5) as follows:16
39-1-111. Taxes levied by board of county commissioners -17
repeal. (1) (a) No later than December 22 in each year, the board of18
county commissioners in each county of the state, or such other body in19
the city and county of Denver as shall be
IS authorized by law to levy20
taxes, or the city council of the city and county of Broomfield, shall,21
either by an order to be entered in the record of its proceedings or by22
written approval, levy against the valuation for assessment of all taxable23
property located in the county on the assessment date, and in the various24
towns, cities, school districts, and special districts within such county, the25
requisite property taxes for all purposes required by law.26
(b) (I) F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY27
HB23B-1005
-18- 1, 2023, THE DEADLINE SET FORTH IN SUBSECTION (1)(a) OF THIS SECTION1
IS POSTPONED FROM DECEMBER 22, 2023, TO JANUARY 17, 2024.2
(II) T
HIS SUBSECTION (1)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.3
(5) (a) If, after certification of the valuation for assessment4
pursuant to section 39-5-128 and notification of total actual value5
pursuant to section 39-5-121 (2)(b) but prior to December 10, changes in6
such valuation for assessment or total actual value are made by the7
assessor, the assessor shall send a single notification to the board of8
county commissioners or other body authorized by law to levy property9
taxes, to the division of local government, and to the department of10
education that includes all of such changes that have occurred during said11
specified period of time. Upon receipt of such notification, such board or12
body shall make adjustments in the tax levies to ensure compliance with13
section 29-1-301, C.R.S.,
if applicable, and may make adjustments in14
order that the same amount of revenue be raised. A copy of any15
adjustment to tax levies shall be transmitted to the administrator and16
assessor. Nothing in this subsection (5) shall be construed as conferring17
the authority to exceed statutorily imposed mill levy or revenue-raising18
limits.19
(b) (I) F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY20
1,
2023, THE DEADLINE SET FORTH IN SUBSECTION (5)(a) OF THIS SECTION21
IS POSTPONED FROM DECEMBER 10, 2023, TO JANUARY 3, 2024.22
(II) T
HIS SUBSECTION (5)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.23
SECTION 16. In Colorado Revised Statutes, 39-3-207, amend24
(2)(b) as follows:25
39-3-207. Reporting of exemptions - reimbursement to local26
governmental entities. (2) (b) No later than December 1, 2002, and no27
HB23B-1005
-19- later than each December 1 thereafter, and after examining the reports1
sent by each assessor, denying claims for exemptions, and deciding2
protests in accordance with paragraph (a) of this subsection (2)3
SUBSECTION (2)(a) OF THIS SECTION, the administrator shall provide4
written notice to the assessor of each county in which an exemption5
application has been denied because the applicant filed multiple6
exemption applications with the identity of the applicant who filed7
multiple exemption applications and the denial of the exemption. No later8
than December 1, 2016, and no later than each December 1 thereafter,9
and after examining the reports sent by each assessor, denying claims for10
exemptions, and deciding protests in accordance with paragraph (a) of11
this subsection (2) SUBSECTION (2)(a) OF THIS SECTION, the administrator12
shall also provide written notice to the assessor of each county in which13
an exemption application has been denied for any other reason with the14
identity of the applicant and the denial of the exemption, specifying the15
reason for the denial. No later than January 10, 2017, and no later than16
each January 10 thereafter;
EXCEPT THAT, FOR 2024, NO LATER THAN17
J
ANUARY 24, each assessor shall forward to the administrator a partial18
copy of the tax warrant for the assessor's county that includes only19
property for which the assessor has granted an exemption. The20
administrator shall examine the tax warrants to ensure that no additional21
exemptions have been allowed since the administrator examined the22
reports previously received from the assessors and that each assessor has23
removed from the tax warrant all exemptions that the administrator24
previously denied. No later than January 17, 2017, and no later than each25
January 17 thereafter;
EXCEPT THAT, FOR 2024, NO LATER THAN JANUARY26
31,
the administrator shall notify each assessor and each treasurer of any27
HB23B-1005
-20- exemptions to be removed from the tax warrant.1
SECTION 17. In Colorado Revised Statutes, 39-5-128, amend2
(1) as follows:3
39-5-128. Certification of valuation for assessment - repeal.4
(1) (a) No later than August 25 of each year, the assessor shall certify to5
the department of education, to the clerk of each town and city, to the6
secretary of each school district, and to the secretary of each special7
district within the assessor's county the total valuation for assessment of8
all taxable property located within the territorial limits of each such town,9
city, school district, or special district and shall notify each such clerk,10
secretary, and board to officially certify the levy of such town, city,11
school district, or special district to the board of county commissioners no12
later than December 15. The assessor shall also certify to the secretary of13
each school district the actual value of the taxable property in the district.14
(b) (I) F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY15
1,
2023, THE DEADLINE SET FORTH IN SUBSECTION (1)(a) OF THIS SECTION16
FOR OFFICIALLY CERTIFYING A LEVY IS POSTPONED FROM DECEMBER 15,17
2023,
TO JANUARY 10, 2024.18
(II) T
HIS SUBSECTION (1)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.19
SECTION 18. In Colorado Revised Statutes, amend 39-5-129 as20
follows:21
39-5-129. Delivery of tax warrant - public inspection - repeal.22
(1) As soon as practicable after the requisite taxes for the year have been23
levied but in no event later than January 10 of each year, the assessor24
shall deliver the tax warrant under his
THE hand and official seal OF THE25
ASSESSOR to the treasurer, which shall be made readily available to the26
general public during the collection year in a convenient location in the27
HB23B-1005
-21- courthouse. The assessor shall retain one or more true copies thereof,1
which shall be made readily available to the general public during the2
collection year in a convenient location in the courthouse. Such tax3
warrant shall set forth the assessment roll, reciting the persons in whose4
names taxable property in the county has been listed, the class of such5
taxable property and the valuation for assessment thereof, the several6
taxes levied against such valuation, and the amount of such taxes7
extended against each separate valuation. At the end of the warrant, the8
aggregate of all taxes levied shall be totaled, balanced, and prorated to the9
several funds of each levying authority, and the treasurer shall be10
commanded to collect all such taxes.11
(2) (a) F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY12
1,
2023, THE DEADLINE SET FORTH IN SUBSECTION (1) OF THIS SECTION IS13
POSTPONED FROM JANUARY 10, 2024, TO JANUARY 24, 2024.14
(b) T
HIS SUBSECTION (2) IS REPEALED, EFFECTIVE JULY 1, 2025.15
SECTION 19. In Colorado Revised Statutes, 39-10-103, add16
(1)(c) as follows:17
39-10-103. Tax statement - repeal. (1) (c) (I) F
OR THE18
PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2023, THE TREASURER19
SHALL MAIL THE STATEMENT AS SOON AS PRACTICABLE AFTER JANUARY20
24,
2024.21
(II) T
HIS SUBSECTION (1)(c) IS REPEALED, EFFECTIVE JULY 1, 2025.22
SECTION 20. In Colorado Revised Statutes, 39-10-104.5,23
amend (3)(a) as follows:24
39-10-104.5. Payment dates - optional payment dates - failure25
to pay - delinquency - repeal. (3) (a) (I) If the first installment is not26
paid on or before the last day of February, then delinquent interest on the27
HB23B-1005
-22- first installment shall accrue at the rate of one percent per month from the1
first day of March until the date of payment; except that, if payment of the2
first installment is made after the last day of February but not later than3
thirty days after the mailing by the treasurer of the tax statement, or true4
and actual notification of an electronic statement, pursuant to section5
39-10-103 (1)(a), no such delinquent interest shall accrue. If the second6
installment is not paid by the fifteenth day of June, delinquent interest on7
the second installment shall accrue at the rate of one percent per month8
from the sixteenth day of June until the date of payment. Interest on the9
first installment shall continue to accrue at the same time that interest is10
accruing on the unpaid portion of the second installment. The taxpayer11
shall continue to have the option of paying delinquent property taxes in12
two equal installments until one day prior to the sale of the tax lien on13
such property pursuant to article 11 of this title TITLE 39.14
(II) (A) F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY15
1,
2023, DELINQUENT INTEREST DOES NOT A CCRUE IF PAYMENT OF THE16
FIRST INSTALLMENT IS MADE AFTER THE LAST DAY OF FEBRUARY BUT NOT17
LATER THAN TEN DAYS AFTER THE MAILING BY THE TREASURER OF THE18
TAX STATEMENT, OR TRUE AND ACTUAL NOTIFICATION OF AN ELECTRONIC19
STATEMENT, PURSUANT TO SECTION 39-10-103 (1).20
(B) T
HIS SUBSECTION (3)(a)(II) IS REPEALED, EFFECTIVE JULY 1,21
2025.22
SECTION 21. Safety clause. The general assembly finds,23
determines, and declares that this act is necessary for the immediate24
preservation of the public peace, health, or safety or for appropriations for25
the support and maintenance of the departments of the state and state26
institutions.27
HB23B-1005
-23-