Colorado 2023 Regular Session

Colorado Senate Bill SB303 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
	1	+	First Regular Session
	2	+	Seventy-fourth General Assembly
	3	+	STATE OF COLORADO
	4	+	REREVISED
	5	+	This Version Includes All Amendments
	6	+	Adopted in the Second House
	7	+	LLS NO. 23-0305.01 Ed DeCecco x4216
1	8		SENATE BILL 23-303
2		-	BY SENATOR(S) Fenberg and Hansen, Bridges, Buckner, Hinrichsen,
3		-	Moreno, Priola;
4		-	also REPRESENTATIVE(S) deGruy Kennedy and Weissman, Amabile,
5		-	Bird, Boesenecker, Brown, Dickson, Duran, Herod, Jodeh, Joseph, Kipp,
6		-	Lindsay, McCormick, Michaelson Jenet, Ricks, Sharbini, Sirota, Snyder,
7		-	Story, Titone, Woodrow, Young, McCluskie.
	9	+	Senate Committees House Committees
	10	+	Appropriations Appropriations
	11	+	A BILL FOR AN ACT
8	12		C
9		-	ONCERNING A REDUCTION IN PROPERTY TAXES , AND, IN CONNECTION
10		-	THEREWITH
11		-	, CREATING A LIMIT ON ANNUAL PROPERTY TAX
12		-	INCREASES FOR CERTAIN LOCAL GOVERNMENTS
13		-	; TEMPORARILY
14		-	REDUCING THE VALUATION FOR ASSESSMENT OF CERTAIN
15		-	RESIDENTIAL AND NONRESIDENTIAL PROPERTY
16		-	; CREATING NEW
17		-	SUBCLASSES OF PROPERTY
18		-	; PERMITTING THE STATE TO RETAIN AND
19		-	SPEND REVENUE UP TO THE PROPOSITION
20		-	HH CAP; REQUIRING THE
21		-	RETAINED REVENUE TO BE USED TO REIMBURSE CERTAIN LOCAL
22		-	GOVERNMENTS FOR LOST PROPERTY TAX REVENUE AND TO BE
23		-	DEPOSITED IN THE STATE EDUCATION FUND TO BACKFILL THE
24		-	REDUCTION IN SCHOOL DISTRICT PROPERTY TAX REVENUE
25		-	;
26		-	TRANSFERRING GENERAL FUND MONEY TO THE STATE PUBLIC SC HOOL
27		-	FUND AND TO A CASH FUND TO ALSO BE USED FOR THE
28		-	REIMBURSEMENTS
29		-	; ELIMINATING THE CAP ON THE AMOUNT OF EXCESS
30		-	STATE REVENUES THAT MAY BE USED FOR THE REIMBURSEMENTS FOR
31		-	THE
32		-	2023 PROPERTY TAX YEAR; REFERRING A BALLOT ISSUE; AND
33		-	NOTE: This bill has been prepared for the signatures of the appropriate legislative
34		-	officers and the Governor. To determine whether the Governor has signed the bill
35		-	or taken other action on it, please consult the legislative status sheet, the legislative
36		-	history, or the Session Laws.
37		-	________
38		-	Capital letters or bold & italic numbers indicate new material added to existing law; dashes
39		-	through words or numbers indicate deletions from existing law and such material is not part of
40		-	the act. MAKING AN APPROPRIATION.
41		-
42		-	Be it enacted by the General Assembly of the State of Colorado:
43		-	SECTION 1. In Colorado Revised Statutes, 22-40-102, amend (3)
44		-	and (6) as follows:
45		-	22-40-102. Certification - tax revenues - repeal. (3) (a) The board
46		-	of education of a school district which had an actual enrollment of more
47		-	than fifty thousand pupils during the preceding school year may make the
48		-	certification provided for in subsection (1) of this section no later than
49		-	December 15.
	13	+	ONCERNING A REDUCTION IN PROPERTY TAXES , AND, IN CONNECTION101
	14	+	THEREWITH, CREATING A LIMIT ON ANNUAL PROPERTY TAX102
	15	+	INCREASES FOR CERTAIN LOCAL GOVERNMENTS ; TEMPORARILY103
	16	+	REDUCING THE VALUATION FOR ASSESSMENT OF CERTAIN104
	17	+	RESIDENTIAL AND NONRESIDENTIAL PROPERTY ; CREATING NEW105
	18	+	SUBCLASSES OF PROPERTY ; PERMITTING THE STATE TO RETAIN106
	19	+	AND SPEND REVENUE UP TO THE PROPOSITION HH CAP;107
	20	+	REQUIRING THE RETAINED REVENUE TO BE USED TO REIMBURSE108
	21	+	CERTAIN LOCAL GOVERNMENTS FOR LOST PROPERTY TAX109
	22	+	REVENUE AND TO BE DEPOSITED IN THE STATE EDUCATION FUND110
	23	+	TO BACKFILL THE REDUCTION IN SCHOOL DISTRICT PROPERTY111
	24	+	TAX REVENUE; TRANSFERRING GENERAL FUND MONEY TO
	25	+	THE112
	26	+	STATE PUBLIC SCHOOL FUND AND TO A CASH FUND TO ALSO BE113
	27	+	HOUSE
	28	+	Amended 3rd Reading
	29	+	May 8, 2023
	30	+	HOUSE
	31	+	Amended 2nd Reading
	32	+	May 7, 2023
	33	+	SENATE
	34	+	3rd Reading Unamended
	35	+	May 4, 2023
	36	+	SENATE
	37	+	Amended 2nd Reading
	38	+	May 3, 2023
	39	+	SENATE SPONSORSHIP
	40	+	Fenberg and Hansen, Bridges, Buckner, Moreno, Priola
	41	+	HOUSE SPONSORSHIP
	42	+	deGruy Kennedy and Weissman,
	43	+	Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
	44	+	Capital letters or bold & italic numbers indicate new material to be added to existing law.
	45	+	Dashes through the words or numbers indicate deletions from existing law. USED FOR THE REIMBURSEMENTS ; ELIMINATING THE CAP ON101
	46	+	THE AMOUNT OF EXCESS STATE REVENUES THAT MAY BE USED102
	47	+	FOR THE REIMBURSEMENTS FOR THE 2023 PROPERTY TAX YEAR;103
	48	+	REFERRING A BALLOT ISSUE ; AND MAKING AN104
	49	+	APPROPRIATION.105
	50	+	Bill Summary
	51	+	(Note: This summary applies to this bill as introduced and does
	52	+	not reflect any amendments that may be subsequently adopted. If this bill
	53	+	passes third reading in the house of introduction, a bill summary that
	54	+	applies to the reengrossed version of this bill will be available at
	55	+	http://leg.colorado.gov
	56	+	.)
	57	+	Section 3 of the bill requires the secretary of state to refer a ballot
	58	+	issue to voters at the November 2023 election that asks voters whether
	59	+	property taxes should be reduced and that seeks voter approval to retain
	60	+	and spend excess state revenues that will be used to backfill some of the
	61	+	reduced property tax revenue. Most of the bill only becomes effective if
	62	+	the voters approve the ballot issue.
	63	+	Local government property tax revenue limit. Beginning with
	64	+	the 2023 property tax year, section 6 establishes a limit on specified
	65	+	property tax revenue for local governments, excluding those that are
	66	+	home rule and school districts, that is equal to inflation above the property
	67	+	tax revenue from the prior property tax year (limit). A local government
	68	+	may establish a temporary property tax credit, which does not change the
	69	+	gross mill levy, that is up to the number of mills necessary to prevent the
	70	+	local government's property tax revenue from exceeding the limit.
	71	+	Alternatively, the governing board may approve a mill levy that would
	72	+	cause the local government to exceed the limit, if the governing board
	73	+	approves the mill levy at a public meeting that meets certain criteria.
	74	+	Valuation changes. The valuation for assessment (valuation) of
	75	+	nonresidential real and personal property, excluding producing mines and
	76	+	lands or leaseholds producing oil or gas, is based on an assessment rate
	77	+	of 29% of actual value, but currently, there are temporary reductions in
	78	+	the valuation for certain subclasses of property. Section 8 creates the
	79	+	additional temporary reductions. For the 2023 property tax year:
	80	+	! For lodging property, property listed under any improved
	81	+	commercial subclass code, and all other nonresidential
	82	+	property, excluding agricultural property and renewable
	83	+	energy production property, the assessment rate is reduced
	84	+	from 27.9% to 27.85%;
	85	+	! For renewable energy agricultural land, which is a newly
	86	+	created subclass of agricultural property that is valued
	87	+	303-2- under section 7, the assessment rate is reduced from 26.4%
	88	+	to 21.9%.
	89	+	Thereafter, the assessment rate for lodging property and all
	90	+	nonresidential property, excluding agricultural property and renewable
	91	+	energy production property and property that is not under a vacant land
	92	+	subclass, is reduced from 29% to:
	93	+	! 27.85% for the 2024 through 2026 property tax years;
	94	+	! 27.65% for the 2027 and 2028 property tax years;
	95	+	! 26.9% for the 2029 and 2030 property tax years; and
	96	+	! 25.9% or 26.9% for the 2031 and 2032 property tax years,
	97	+	depending on the increase in the valuation in the 32
	98	+	counties with the smallest increases from the 2030 to 2031
	99	+	property tax years (revenue increases).
	100	+	The assessment rate for agricultural property, excluding renewable
	101	+	energy agricultural land, and renewable energy property is reduced from
	102	+	29% to:
	103	+	! 26.4% for the 2025 through 2030 property tax years; and
	104	+	! 25.9% or 26.4% for the 2031 and 2032 property tax years,
	105	+	depending on the increase in the valuation in the 32
	106	+	counties with the smallest revenue increases.
	107	+	The assessment rate for renewable energy agricultural land is
	108	+	reduced from 29% to 21.9% for the 2024 through 2032 property tax
	109	+	years.
	110	+	Beginning with the 2033 property tax year, all of the temporary
	111	+	valuation reductions expire and the valuation of all nonresidential real
	112	+	property is 29% of the actual value of the property.
	113	+	The valuation of residential real property is based on an
	114	+	assessment rate of 7.15% of actual value, but currently, there are
	115	+	temporary reductions in the valuation. Section 9 further reduces the
	116	+	valuation of residential real property. For the 2023 property tax year, the
	117	+	valuation is reduced from 6.765% of the amount equal to the actual value
	118	+	minus the lesser of $15,000 or the amount that causes the valuation to be
	119	+	$1,000 (alternate amount) to 6.7% of the amount equal to the actual value
	120	+	minus the lesser of $40,000 or the alternate amount.
	121	+	For the 2024 property tax year, the valuation is reduced as follows:
	122	+	! For multi-family residential real property, the valuation is
	123	+	reduced from 6.8% of the actual value to 6.7% of the
	124	+	amount equal to the actual value minus the lesser of
	125	+	$40,000 or the alternate amount; and
	126	+	! For all other residential real property, the valuation is
	127	+	reduced from an estimate of 6.98% of the actual value to
	128	+	6.7% of the amount equal to the actual value minus the
	129	+	lesser of $40,000 or the alternate amount.
	130	+	For the 2025 through 2032 property tax years:
	131	+	! For multi-family residential real property and primary
	132	+	303
	133	+	-3- residence real property, including multi-family primary
	134	+	residence real property, the valuation is reduced from
	135	+	7.15% of the actual value to 6.7% of the actual value minus
	136	+	the lesser of $40,000 or the alternate amount;
	137	+	! For qualified-senior primary residence real property,
	138	+	including multi-family qualified-senior primary residence
	139	+	real property, the valuation is reduced from 7.15% of the
	140	+	actual value to 6.7% of the amount equal to the actual value
	141	+	minus $140,000 or the alternate amount; and
	142	+	! For all other residential real property, the assessment rate
	143	+	is reduced from 7.15% to 7.1%.
	144	+	Beginning with the 2033 property tax year, all of the temporary
	145	+	valuation reductions expire and the valuation of all residential real
	146	+	property is 7.15% of the actual value of the property.
	147	+	The bill also establishes that all of the temporary reductions in
	148	+	valuation for residential and nonresidential property created in the bill are
	149	+	contingent on the state's ability to retain and spend state surplus up to the
	150	+	proposition HH cap. If, for any reason, excluding a legislative enactment
	151	+	by the general assembly, the state is not permitted to retain and spend this
	152	+	money, then the temporary reductions in the bill do not apply.
	153	+	Section 11 creates the residential subclass of primary residence
	154	+	real property for owner-occupiers and establishes administrative
	155	+	procedures related to the classification that are based on the procedures
	156	+	for the homestead exemption, with those procedures expanded to treat
	157	+	civil union partners like spouses. Section 11 also creates the residential
	158	+	subclass of qualified-senior primary residence real property, which is a
	159	+	property with an owner-occupier who previously qualified for the senior
	160	+	homestead exemption for a different property and who does not qualify
	161	+	for the exemption for the current property tax year.
	162	+	Sections 1, 12, 13, 15, and 16 delay deadlines as necessary due to
	163	+	the valuation changes for the 2023 property tax year.
	164	+	The state is currently required to reimburse local governmental
	165	+	entities for property tax revenue lost as a result of the reductions in
	166	+	valuation enacted in Senate Bill 22-238. Section 14 modifies this backfill
	167	+	mechanism by:
	168	+	! Specifying that the amount of revenue lost for a property
	169	+	tax year is based on a local governmental entity's mill levy
	170	+	for the 2022 property tax year, excluding specified mills;
	171	+	! Including the additional property tax revenue reductions
	172	+	that result from the bill in the backfill for the 2023 property
	173	+	tax year;
	174	+	! Eliminating the maximum amount of the backfill for the
	175	+	2023 property tax year that is a refund of excess state
	176	+	revenues;
	177	+	! Extending the backfill for the 2024 through 2032 property
	178	+	303
	179	+	-4- tax years for the valuation reductions in the bill, but making
	180	+	a local governmental entity that has an increase in real
	181	+	property total valuation of 20% or more from the 2022
	182	+	property tax year ineligible for the backfill;
	183	+	! Creating the local government backfill cash fund, which
	184	+	includes a $128 million general fund transfer, and requiring
	185	+	the money from the fund to be used to backfill revenue to
	186	+	local governments beginning with the 2024 property tax
	187	+	year; and
	188	+	! Beginning with the 2024 property tax year, proportionally
	189	+	reducing the amount that each eligible local government
	190	+	receives, if necessary to avoid exceeding the total amount
	191	+	that is available for the backfills statewide.
	192	+	Section 14 also modifies the backfill mechanism to treat cities and
	193	+	counties as counties instead of municipalities, and this change is not
	194	+	contingent on voter-approval of the ballot issue. Section 18 requires the
	195	+	department of revenue to calculate the amount of excess state revenues
	196	+	that will be refunded for the fiscal year 2022-23 with and without the
	197	+	changes from the bill.
	198	+	Voter-approved revenue change. If the voters approve the
	199	+	referred ballot issue, then the state will be authorized to retain and spend
	200	+	revenues up to the proposition HH cap, created in section 3. For the
	201	+	2023-24 fiscal year, the proposition HH cap is equal to the excess state
	202	+	revenues cap for the prior fiscal year, adjusted for inflation plus 1% and
	203	+	population changes. Thereafter, the proposition HH cap is equal to the
	204	+	proposition HH cap for the prior fiscal year, adjusted for inflation plus
	205	+	1% and population changes. The proposition HH cap is also annually
	206	+	adjusted for the qualification or disqualification of enterprises and debt
	207	+	service changes.
	208	+	If the general assembly does not enact assessment rates for the
	209	+	2033 property tax year that are the same or lower than the assessment
	210	+	rates for the 2032 property tax year described above, then the proposition
	211	+	HH cap is reduced to be equal to the excess state revenues cap, and the
	212	+	state will retain $0 under this authority beginning with the 2031-32 fiscal
	213	+	year. Thereafter, the general assembly may partially or wholly restore the
	214	+	proposition HH cap without additional voter approval if the general
	215	+	assembly enacts valuation reductions equal to or greater than those for the
	216	+	2032 property tax year.
	217	+	The amount retained under this authority is first used in the
	218	+	following fiscal year to backfill certain local governments for the reduced
	219	+	property tax revenue as a result of the property tax changes in the bill and
	220	+	Senate Bill 22-238, and the remainder is transferred to the state education
	221	+	fund to offset the revenue that school districts lose as a result of the
	222	+	property tax changes. Section 5 requires the state controller to include the
	223	+	new voter-approved revenue change in the annual report on TABOR
	224	+	303
	225	+	-5- revenues.
	226	+	Sections 2, 4, 10, and 17 make conforming amendments related
	227	+	to the valuation changes and related procedures and the voter-approved
	228	+	revenue changes.
	229	+	Be it enacted by the General Assembly of the State of Colorado:1
	230	+	SECTION 1. In Colorado Revised Statutes, 22-40-102, amend2
	231	+	(3) and (6) as follows:3
	232	+	22-40-102. Certification - tax revenues - repeal. (3) (a) The4
	233	+	board of education of a school district which had an actual enrollment of5
	234	+	more than fifty thousand pupils during the preceding school year may6
	235	+	make the certification provided for in subsection (1) of this section no7
	236	+	later than December 15.8
50	237		(b) (I) F
51		-	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
52		-	2023,
53		-	THE DEADLINE SET FORTH IN SUBSECTION (3)(a) OF THIS SECTION IS
54		-	POSTPONED FROM
55		-	DECEMBER 15, 2023, TO JANUARY 5, 2024.
	238	+	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY9
	239	+	1,
	240	+	2023, THE DEADLINE SET FORTH IN SUBSECTION (3)(a) OF THIS SECTION10
	241	+	IS POSTPONED FROM DECEMBER 15, 2023, TO JANUARY 5, 2024.11
56	242		(II) T
57		-	HIS SUBSECTION (3)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.
58		-	(6) (a) Each school district, with such assistance as may be required
59		-	from the department of education, shall inform the county treasurer for each
60		-	county within the district's boundaries no later than December 15 of each
61		-	year of said district's general fund mill levy in the absence of funds
62		-	estimated to be received by said district pursuant to the "Public School
63		-	Finance Act of 1994", article 54 of this title
64		-	TITLE 22, and the estimated
65		-	funds to be received for the general fund of the district from the state.
	243	+	HIS SUBSECTION (3)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.12
	244	+	(6) (a) Each school district, with such assistance as may be13
	245	+	required from the department of education, shall inform the county14
	246	+	treasurer for each county within the district's boundaries no later than15
	247	+	December 15 of each year of said district's general fund mill levy in the16
	248	+	absence of funds estimated to be received by said district pursuant to the17
	249	+	"Public School Finance Act of 1994", article 54 of this title
	250	+	TITLE 22, and18
	251	+	the estimated funds to be received for the general fund of the district from19
	252	+	the state.20
66	253		(b) (I) F
67		-	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
68		-	2023,
69		-	THE DEADLINE SET FORTH IN SUBSECTION (6)(a) OF THIS SECTION IS
70		-	POSTPONED FROM
71		-	DECEMBER 15, 2023, TO JANUARY 5, 2024.
72		-	(II) T
73		-	HIS SUBSECTION (6)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.
74		-	SECTION 2. In Colorado Revised Statutes, 25-2-103, add (4.7) as
75		-	follows:
76		-	25-2-103. Centralized registration system for all vital statistics
77		-	- office of the state registrar of vital statistics created - appointment of
78		-	registrar - rules. (4.7) N
79		-	OTWITHSTANDING ANY OTHER PROVISION OF LAW
80		-	PAGE 2-SENATE BILL 23-303 THAT LIMITS THE SHARING OF VITAL STATISTICS, AFTER RECEIVING THE LIST
81		-	OF NAMES AND SOCIAL SECURITY NUMBERS OF INDIVIDUALS WHO HAD
82		-	PROPERTY CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY OR
83		-	QUALIFIED
84		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY THAT IS PROVIDED
85		-	BY THE PROPERTY TAX ADMINISTRATOR PURSUANT TO SECTION
86		-	39-1-104.6
87		-	(5)(c),
88		-	THE STATE REGISTRAR SHALL IDENTIFY ALL INDIVIDUALS ON THE LIST
89		-	WHO HAVE DIED AND TRANSMIT A LIST OF THE NAMES AND SOCIAL SECURITY
90		-	NUMBERS OF SUCH INDIVIDUALS TO THE ADMINISTRATOR
91		-	.
92		-	SECTION 3. In Colorado Revised Statutes, add part 2 to article 77
93		-	of title 24 as follows:
94		-	PART 2
95		-	SUBMISSION OF BALLOT ISSUE - VOTER-APPROVED
96		-	REVENUE CHANGE - PROPERTY TAX REDUCTION
97		-	BACKFILL
	254	+	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY21
	255	+	1,
	256	+	2023, THE DEADLINE SET FORTH IN SUBSECTION (6)(a) OF THIS SECTION22
	257	+	IS POSTPONED FROM DECEMBER 15, 2023, TO JANUARY 5, 2024.23
	258	+	303-6- (II) THIS SUBSECTION (6)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.1
	259	+	SECTION 2. In Colorado Revised Statutes, 25-2-103, add (4.7)2
	260	+	as follows:3
	261	+	25-2-103. Centralized registration system for all vital statistics4
	262	+	- office of the state registrar of vital statistics created - appointment5
	263	+	of registrar - rules. (4.7) N
	264	+	OTWITHSTANDING ANY OTHER PROVISION OF6
	265	+	LAW THAT LIMITS THE SHARING OF VITAL STATISTICS , AFTER RECEIVING7
	266	+	THE LIST OF NAMES AND SOCIAL SECURITY NUMBERS OF INDIVIDUALS WHO8
	267	+	HAD PROPERTY CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY OR9
	268	+	QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY THAT IS10
	269	+	PROVIDED BY THE PROPERTY TAX ADMINISTRATOR PURSUANT TO SECTION11
	270	+	39-1-104.6 (5)(c),
	271	+	THE STATE REGISTRAR SHALL IDENTIFY ALL12
	272	+	INDIVIDUALS ON THE LIST WHO HAVE DIED AND TRANSMIT A LIST OF THE13
	273	+	NAMES AND SOCIAL SECURITY NUMBERS OF SUCH INDIVI DUALS TO THE14
	274	+	ADMINISTRATOR.15
	275	+	SECTION 3. In Colorado Revised Statutes, add part 2 to article16
	276	+	77 of title 24 as follows:17
	277	+	PART 218
	278	+	SUBMISSION OF BALLOT ISSUE - VOTER-APPROVED19
	279	+	REVENUE CHANGE - PROPERTY TAX REDUCTION20
	280	+	BACKFILL21
98	281		24-77-201. Definitions. A
99		-	S USED IN THIS PART 2, UNLESS THE
100		-	CONTEXT OTHERWISE REQUIRES
101		-	:
	282	+	S USED IN THIS PART 2, UNLESS THE22
	283	+	CONTEXT OTHERWISE REQUIRES :23
102	284		(1) "A
103		-	CCOUNT" MEANS THE PROPOSITION HH GENERAL FUND
104		-	EXEMPT ACCOUNT IN THE GENERAL FUND CREATED IN SECTION
105		-	24-77-203
106		-	(3)(a).
	285	+	CCOUNT" MEANS THE PROPOSITION HH GENERAL FUND24
	286	+	EXEMPT ACCOUNT IN THE GENERAL FUND CREATED IN SECTION 24-77-20325
	287	+	(3)(a).26
107	288		(2) "B
108		-	ALLOT ISSUE" MEANS THE QUESTION REFERRED TO ~~VOTERS IN~~
109		-	~~ACCORDANCE WITH SECTION~~
110		-	24-77-202 (1).
	289	+	ALLOT ISSUE" MEANS THE QUESTION REFERRED TO VOTERS27
	290	+	303
	291	+	-7- IN ACCORDANCE WITH SECTION 24-77-202 (1).1
111	292		(3) "E
112		-	XCESS STATE REVENUES CAP" HAS THE SAME MEANING AS SET
113		-	FORTH IN SECTION
114		-	24-77-103.6 (6)(b).
	293	+	XCESS STATE REVENUES CAP" HAS THE SAME MEANING AS2
	294	+	SET FORTH IN SECTION 24-77-103.6 (6)(b).3
115	295		(4) "S
116		-	TATE REVENUES" MEANS STATE REVENUES NOT ~~EXCLUDED~~
117		-	FROM STATE FISCAL YEAR SPENDING
118		-	~~, AS DEFINED IN SECTION 24-77-102~~ (17).
	296	+	TATE REVENUES" MEANS STATE REVENUES NOT EXCLUDED4
	297	+	FROM STATE FISCAL YEAR SPENDING , AS DEFINED IN SECTION 24-77-1025
	298	+	(17).6
119	299		(5) "S
120		-	TATE SURPLUS" MEANS THE AMOUNT OF STATE REVENUES
121		-	THAT EXCEED THE EXCESS STATE REVENUES CAP FOR A GIVEN STATE FISCAL
122		-	YEAR
123		-	.
124		-	24-77-202. Submission of ballot issue - voter-approved revenue
125		-	change. (1) A
126		-	T THE ELECTION HELD ON NOVEMBER 7, 2023, THE
127		-	SECRETARY OF STATE SHALL SUBMIT TO THE REGISTERED ELECTORS OF THE
128		-	PAGE 3-SENATE BILL 23-303 STATE FOR THEIR APPROVAL OR REJECTION THE FOLLOWING BALLOT ISSUE :
129		-	"S
130		-	HALL THE STATE REDUCE PROPERTY TAXES FOR HOMES AND BUSINESSES ,
131		-	INCLUDING EXPANDING PROPERTY TAX RELIEF FOR SENIORS , AND BACKFILL
132		-	COUNTIES
133		-	, WATER DISTRICTS, FIRE DISTRICTS, AMBULANCE AND HOSPITAL
134		-	DISTRICTS
135		-	, AND OTHER LOCAL GOVERNMENTS AND FUND SCHOOL DISTRICTS
136		-	BY USING A PORTION OF THE STATE SURPLUS UP TO THE PROPOSITION
137		-	HH CAP
138		-	AS DEFINED IN THIS MEASURE
139		-	?"
	300	+	TATE SURPLUS" MEANS THE AMOUNT OF STATE REVENUES7
	301	+	THAT EXCEED THE EXCESS STATE REVENUES CAP FOR A GIVEN STATE8
	302	+	FISCAL YEAR.9
	303	+	24-77-202. Submission of ballot issue - voter-approved10
	304	+	revenue change. (1) A
	305	+	T THE ELECTION HELD ON NOVEMBER 7, 2023, THE11
	306	+	SECRETARY OF STATE SHALL SUBMIT TO THE REGISTERED ELECTORS OF12
	307	+	THE STATE FOR THEIR APPROVAL OR REJECTION THE FOLLOWING BALLOT13
	308	+	ISSUE: "SHALL THE STATE REDUCE PROPERTY TAXES FOR HOMES AND14
	309	+	BUSINESSES, INCLUDING EXPANDING PROPERTY TAX RELIEF FOR SENIORS ,15
	310	+	AND BACKFILL COUNTIES ,
	311	+	WATER DISTRICTS, FIRE DISTRICTS,16
	312	+	AMBULANCE AND HOSPITAL DISTRICTS , AND OTHER LOCAL GOVERNMENTS17
	313	+	AND FUND SCHOOL DISTRICTS BY USING A PORTION OF THE STATE SURPLUS18
	314	+	UP TO THE PROPOSITION HH CAP AS DEFINED IN THIS MEASURE?"19
140	315		(2) F
141		-	OR PURPOSES OF SECTION 1-5-407, THE BALLOT ISSUE IS A
142		-	PROPOSITION TO BE IDENTIFIED AS
143		-	"PROPOSITION HH". SECTION 1-40-106
	316	+	OR PURPOSES OF SECTION 1-5-407, THE BALLOT ISSUE IS A20
	317	+	PROPOSITION TO BE IDENTIFIED AS "PROPOSITION HH". SECTION 1-40-10621
144	318		(3)(d)
145		-	DOES NOT APPLY TO THE BALLOT ISSUE.
146		-	24-77-203. Retention of excess state revenues - transfer to ~~state~~
147		-	education fund - local government reimbursement - ~~legislative~~
	319	+	DOES NOT APPLY TO THE BALLOT ISSUE.22
	320	+	24-77-203. Retention of excess state revenues - transfer to state23
	321	+	education fund - local government reimbursement - legislative24
148	322		declaration. (1) (a) I
149		-	F A MAJORITY OF THE ELECTORS VOTING ON THE
150		-	BALLOT ISSUE VOTE
151		-	"YES/FOR", THEN FOR EACH FISCAL YEAR COMMENCING
152		-	ON OR AFTER
153		-	JULY 1, 2023, THE STATE IS AUTHORIZED TO RETAIN AND SPEND
154		-	ALL OF THE STATE SURPLUS THAT IS LESS THAN THE PROPOSITION
155		-	HH CAP,
156		-	WHICH IS:
	323	+	F A MAJORITY OF THE ELECTORS VOTING ON THE25
	324	+	BALLOT ISSUE VOTE "YES/FOR", THEN FOR EACH FISCAL YEAR26
	325	+	COMMENCING ON OR AFTER JULY 1, 2023, THE STATE IS AUTHORIZED TO27
	326	+	303
	327	+	-8- RETAIN AND SPEND ALL OF THE STATE SURPLUS THAT IS LESS THAN THE1
	328	+	PROPOSITION HH CAP, WHICH IS:2
157	329		(I) F
158		-	OR THE 2023-24 FISCAL YEAR, AN AMOUNT EQUAL TO THE
159		-	EXCESS STATE REVENUES CAP FOR THE
160		-	2022-23 FISCAL YEAR, ADJUSTED FOR
161		-	INFLATION PLUS ONE PERCENTAGE POINT
162		-	, THE PERCENTAGE CHANGE IN
163		-	STATE POPULATION
164		-	, THE QUALIFICATION OR DISQUALIFICATION OF
165		-	ENTERPRISES
166		-	, AND DEBT SERVICE CHANGES; AND
167		-	(II) FOR THE FISCAL YEAR 2024-25 AND EACH SUCCEEDING FISCAL
168		-	YEAR
169		-	, AN AMOUNT EQUAL TO THE PROPOSITION HH CAP FOR THE PRIOR
170		-	FISCAL YEAR
171		-	, ADJUSTED FOR INFLATION PLUS ONE PERCENTAGE POINT , THE
172		-	PERCENTAGE CHANGE IN STATE POPULATION
173		-	, THE QUALIFICATION OR
174		-	DISQUALIFICATION OF ENTERPRISES
175		-	, AND DEBT SERVICE CHANGES.
	330	+	OR THE 2023-24 FISCAL YEAR, AN AMOUNT EQUAL TO THE3
	331	+	EXCESS STATE REVENUES CAP FOR THE 2022-23 FISCAL YEAR, ADJUSTED4
	332	+	FOR INFLATION PLUS ONE PERCENTAGE POINT , THE PERCENTAGE CHANGE5
	333	+	IN STATE POPULATION, THE QUALIFICATION OR DISQUALIFICATION OF6
	334	+	ENTERPRISES, AND DEBT SERVICE CHANGES; AND7
	335	+	(II) F
	336	+	OR THE FISCAL YEAR 2024-25 AND EACH SUCCEEDING FISCAL8
	337	+	YEAR, AN AMOUNT EQUAL TO THE PROPOSITION HH CAP FOR THE PRIOR9
	338	+	FISCAL YEAR, ADJUSTED FOR INFLATION PLUS ONE PERCENTAGE POINT, THE10
	339	+	PERCENTAGE CHANGE IN STATE POPULATION , THE QUALIFICATION OR11
	340	+	DISQUALIFICATION OF ENTERPRISES, AND DEBT SERVICE CHANGES.12
176	341		(b) (I) N
177		-	OTWITHSTANDING SUBSECTION (1)(a) OF THIS SECTION AND
178		-	EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION
179		-	(1)(b)(II) OF THIS SECTION,
180		-	IF THE GENERAL ASSEMBLY DOES NOT ENACT LEGISLATION TO ESTABLISH
181		-	VALUATIONS FOR ASSESSMENT FOR THE PROPERTY TAX YEARS COMMENCING
182		-	ON AND AFTER
183		-	JANUARY 1, 2033, THAT ARE LESS THAN OR EQUAL TO THE
184		-	TEMPORARILY REDUCED VALUATIONS FOR ASSESSMENT ESTABLISHED IN
185		-	SECTIONS
186		-	39-1-104 (1)(b)(V), (1.8)(a)(III), (1.8)(a)(IV), AND (1.8)(b)(VI)
187		-	AND 39-1-104.2 (3)(q)(III) AND (3)(r)(IV) IN SENATE BILL 23-303 FOR THE
188		-	PAGE 4-SENATE BILL 23-303 PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2032, FOR THE SAME
189		-	CLASSES OF PROPERTY
190		-	, THEN, FOR THE FISCAL YEAR COMMENCING ON JULY
191		-	1, 2032, AND EACH FISCAL YEAR THEREAFTER, THE PROPOSITION HH CAP IS
192		-	AN AMOUNT EQUAL TO THE EXCESS STATE REVENUES CAP
193		-	.
	342	+	OTWITHSTANDING SUBSECTION (1)(a) OF THIS SECTION13
	343	+	AND EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (1)(b)(II) OF THIS14
	344	+	SECTION, IF THE GENERAL ASSEMBLY DOES NOT ENACT LEGISLATION TO15
	345	+	ESTABLISH VALUATIONS FOR ASSESSMENT FOR THE PROPERTY TAX YEARS16
	346	+	COMMENCING ON AND AFTER JANUARY 1, 2033, THAT ARE LESS THAN OR17
	347	+	EQUAL TO THE TEMPORARILY REDUCED VALUATIONS FOR ASSESSMENT18
	348	+	ESTABLISHED IN SECTIONS 39-1-104 (1)(b)(V), (1.8)(a)(III), (1.8)(a)(IV),19
	349	+	AND (1.8)(b)(VI) AND 39-1-104.2
	350	+	(3)(q)(III) AND (3)(r)(IV) IN THIS20
	351	+	S
	352	+	ENATE BILL 23-____ FOR THE PROPERTY TAX YEAR COMMENCING ON21
	353	+	J
	354	+	ANUARY 1, 2032, FOR THE SAME CLASSES OF PROPERTY, THEN, FOR THE22
	355	+	FISCAL YEAR COMMENCING ON JULY 1, 2032, AND EACH FISCAL YEAR23
	356	+	THEREAFTER, THE PROPOSITION HH CAP IS AN AMOUNT EQUAL TO THE24
	357	+	EXCESS STATE REVENUES CAP.25
194	358		(II) I
195		-	F THE PROPOSITION HH CAP IS REDUCED BY OPERATION OF
	359	+	F THE PROPOSITION HH CAP IS REDUCED BY OPERATION OF26
	360	+	SUBSECTION (1)(b)(I) OF THIS SECTION, THE GENERAL ASSEMBLY MAY ,27
	361	+	303
	362	+	-9- WITHOUT ADDITIONAL VOTER APPROVAL , ENACT LEGISLATION TO RESTORE1
	363	+	THE CAP FOR A FISCAL YEAR TO AN AMOUNT THAT IS LESS THAN OR EQUAL2
	364	+	TO THE AMOUNT THAT THE PROPOSITION HH CAP WOULD HAVE BEEN FOR3
	365	+	THE FISCAL YEAR UNDER SUBSECTION (1)(a)(II) OF THIS SECTION IF4
	366	+	SUBSECTION (1)(b)(I) OF THIS SECTION HAD NOT APPLIED IF , FOR THE5
	367	+	PROPERTY TAX YEAR THAT ENDS DURING THE FISCAL YEAR , THE GENERAL6
	368	+	ASSEMBLY:7
	369	+	(A) E
	370	+	STABLISHES VALUATIONS FOR ASSESSMENT THAT ARE LESS8
	371	+	THAN OR EQUAL TO THE TEMPORARILY REDUCED VALUATIONS FOR9
	372	+	ASSESSMENT ESTABLISHED IN SECTIONS 39-1-104 (1)(b)(V), (1.8)(a)(III),10
	373	+	(1.8)(a)(IV),
	374	+	AND (1.8)(b)(VI) AND
	375	+	39-1-104.2 (3)(q)(III) AND (3)(r)(IV)11
	376	+	IN THIS SENATE BILL 23-____ FOR THE PROPERTY TAX YEAR COMMENCING12
	377	+	ON JANUARY 1, 2032, FOR THE SAME CLASSES OF PROPERTY; OR13
	378	+	(B)
	379	+	REDUCES THE VALUATIONS FOR ASSESSMENT DIFFERENTLY14
	380	+	FROM THE VALUATIONS FOR ASSESSMENT ESTABLISHED IN THIS SENATE15
	381	+	B
	382	+	ILL 23-____, BUT THE AGGREGATE REDUCTION IN THE VALUATION FOR16
	383	+	ASSESSMENT STATEWIDE FROM THE REDUCTIONS IS GREATER THAN OR17
	384	+	EQUAL TO THE ESTIMATED AGGREGATE REDUCTION IN THE VALUATION FOR18
	385	+	ASSESSMENTS FROM THE MINIMUM REDUCTIONS IN VALUATION FOR19
	386	+	ASSESSMENT NECESSARY TO MEET THE C ONDITION SPECIFIED IN20
	387	+	SUBSECTION (1)(b)(II)(A) OF THIS SECTION.21
	388	+	(c) F
	389	+	OR PURPOSES OF THE CALCULATION SET FORTH IN THIS22
	390	+	SUBSECTION (1):23
	391	+	(I) I
	392	+	NFLATION AND THE PERCENTAGE CHANGE IN STATE24
	393	+	POPULATION ARE THE SAME RATES THAT ARE USED IN CALCULATING THE25
	394	+	MAXIMUM ANNUAL PERCENTAGE CHANGE IN STATE FISCAL YEAR SPENDING26
	395	+	PURSUANT TO SECTION 24-77-103; AND27
	396	+	303
	397	+	-10- (II) THE QUALIFICATION OR DISQUALIFICATION OF AN ENTERPRISE1
	398	+	OR A DEBT SERVICE CHANGE AFFECTS THE PROPOSITION HH CAP IN THE2
	399	+	SAME MANNER AS THE CHANGE AFFECTS THE LIMITATION ON STATE FISCAL3
	400	+	YEAR SPENDING.4
	401	+	(2) T
	402	+	HIS SECTION DOES NOT AFFECT THE AMOUNT THAT THE STATE5
	403	+	IS PERMITTED TO RETAIN AND SPEND UNDER THE AUTHORITY CONFERRED6
	404	+	BY THE VOTERS' APPROVAL OF SECTION 24-77-103.6.7
	405	+	(3) (a) T
	406	+	HE PROPOSITION HH GENERAL FUND EXEMPT ACCOUNT IS8
	407	+	HEREBY CREATED IN THE GENERAL FUND . THE ACCOUNT CONSISTS OF AN9
	408	+	AMOUNT EQUAL TO THE AMOUNT OF STATE SURPLUS THAT THE STATE IS10
	409	+	AUTHORIZED TO RETAIN AND SPEND UNDER THIS PART 2 FOR THE PRIOR11
	410	+	FISCAL YEAR, IF ANY. THE STATE TREASURER SHALL CREDIT ALL INTEREST12
	411	+	AND INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY IN13
	412	+	THE PROPOSITION HH GENERAL FUND EXEMPT ACCOUNT TO THE ACC OUNT .14
	413	+	(b) T
	414	+	HE MONEY IN THE ACCOUNT FOR EACH FISCAL YEAR15
	415	+	BEGINNING WITH THE 2023-24 FISCAL YEAR MUST BE USED AS FOLLOWS :16
	416	+	(I) T
	417	+	HE MONEY IS FIRST USED TO PROVIDE REIMBURSEMENTS TO17
	418	+	LOCAL GOVERNMENTS UNDER SECTION
	419	+	39-3-210 (4)(a)(II);18
	420	+	(II) IF THERE IS ANY MONEY REMAINING AFTER THE ALLOCATION19
	421	+	SET FORTH IN SUBSECTION (3)(b)(I) OF THIS SECTION, THE STATE20
	422	+	TREASURER SHALL TRANSFER AN AMOUNT EQUAL TO THE REMAINDER,21
	423	+	FIVE PERCENT OF THE TOTAL AMOUNT IN THE ACCOUNT FOR THE FISCAL22
	424	+	YEAR, OR TWENTY MILLION DOLLARS, WHICHEVER AMOUNT IS THE LEAST,23
	425	+	TO THE HOUSING DEVELOPMENT GRANT FUND CREATED IN SECTION24
	426	+	24-32-721 (1) TO BE USED TO REDUCE THE AMOUNT OF PROPERTY TAXES25
	427	+	THAT ARE PAID AS A PORTION OF A TENANT'S RENT THROUGH A PROGRAM26
	428	+	ESTABLISHED UNDER SUBSECTION (2)(d)(VI) OF SAID SECTION; AND27
	429	+	303
	430	+	-11- (III) AS SOON AS POSSIBLE AFTER RECEIVING THE REPORT FROM1
	431	+	THE PROPERTY TAX ADMINISTRATOR IN ACCORDANCE WITH SECTION2
	432	+	39-3-210
	433	+	(3), THE STATE TREASURER SHALL TRANSFER THE AMOUNT , IF3
	434	+	ANY, IN THE ACCOUNT THAT IS IN EXCESS OF THE AMOUNT THAT WILL BE4
	435	+	USED IN ACCORDANCE WITH
	436	+	SUBSECTIONS (3)(b)(I) AND (3)(b)(II) OF THIS5
	437	+	SECTION TO THE STATE EDUCATION FUND CREATED IN SECTION 17 OF6
	438	+	ARTICLE IX OF THE STATE CONSTITUTION.7
	439	+	(4) T
	440	+	HE GENERAL ASSEMBLY HEREBY FINDS AND DECLARES THAT :8
	441	+	(a) P
	442	+	UBLIC SCHOOL FUNDING CONSISTS OF A COMBINATION OF9
	443	+	STATE AND LOCAL SCHOOL DISTRICT REVENUE ;10
	444	+	(b) U
	445	+	NDER THE CURRENT SCHOOL FINANCE FORMULA , AN11
	446	+	INCREASE IN STATE FUNDING CAN BACKFILL A DECREASE IN LOCAL12
	447	+	PROPERTY TAX REVENUE;13
	448	+	(c) R
	449	+	EDUCTIONS IN PROPERTY TAX VALUATIONS REDUCE THE14
	450	+	LOCAL PROPERTY TAX REVENUE COLLECTED FOR LOCAL GOVERNMENTS ,15
	451	+	INCLUDING SCHOOL DISTRICTS;16
	452	+	(d) M
	453	+	ONEY IN THE STATE EDUCATION FUND IS USED TO PROVIDE17
	454	+	FUNDING FOR LOCAL SCHOOL DISTRICTS ; AND18
	455	+	(e) I
	456	+	T IS THE INTENT OF THE GENERAL ASSEMBLY THAT19
	457	+	TRANSFERRING A PORTION OF THE MONEY FROM THE ACCOUNT TO THE20
	458	+	STATE EDUCATION FUND IN ACCORDANCE WITH SUBSECTION (3) OF THIS21
	459	+	SECTION PROVIDES ADDITIONAL FUNDING TO LOCAL SCHOOL DISTRICTS IN22
	460	+	ORDER TO BACKFILL PROPERTY TAX REVENUE REDUCTIONS RESULTING23
	461	+	FROM PROPERTY TAX CHANGES ENACTED IN THIS
	462	+	SENATE BILL 23-___ AND24
	463	+	THAT THE MONEY SO TRANSFERRED SHALL NOT SUPPLANT GENERAL FUND25
	464	+	APPROPRIATIONS MADE FOR SCHOOL DISTRICTS' TOTAL PROGRAM, AS26
	465	+	DEFINED BY SECTION 22-54-103 (6).27
	466	+	303
	467	+	-12- 24-77-204. Repeal. (1) I F A MAJORITY OF THE ELECTORS VOTING1
	468	+	ON THE BALLOT ISSUE VOTE "NO/AGAINST", THEN THIS PART 2 IS2
	469	+	REPEALED, EFFECTIVE JULY 1, 2024.3
	470	+	(2) I
	471	+	F A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE4
	472	+	VOTE "YES/FOR", THEN THIS SECTION IS REPEALED, EFFECTIVE JULY 1,5
	473	+	2024.6
	474	+	SECTION 4. In Colorado Revised Statutes, 22-55-103, amend7
	475	+	(1) as follows:8
	476	+	22-55-103. State education fund - creation - transfers to fund9
	477	+	- use of money in fund - permitted investments - exempt from10
	478	+	spending limitations. (1) In accordance with section 17 (4) of article IX11
	479	+	of the state constitution, there is hereby created in the state treasury the12
	480	+	state education fund. The fund shall consist
	481	+	CONSISTS of state education13
	482	+	fund revenues,
	483	+	MONEY TRANSFERRED TO THE FUND IN ACCORDANCE WITH14
	484	+	SECTION 24-77-203
	485	+	(3)(b)(III), all interest and income earned on the15
	486	+	deposit and investment of moneys MONEY in the fund, and any gifts or16
	487	+	other moneys MONEY that are exempt from the limitation on state fiscal17
	488	+	year spending set forth in section 20 (7)(a) of article X of the state18
	489	+	constitution and section 24-77-103 C.R.S., that may be credited to the19
	490	+	fund. All interest and income derived from the deposit and investment of20
	491	+	moneys MONEY in the fund shall be ARE credited to the fund. At the end21
	492	+	of any state fiscal year, all unexpended and unencumbered moneys22
	493	+	MONEY in the fund shall remain REMAINS in the fund and shall not revert23
	494	+	to the general fund or any other fund.24
	495	+	SECTION 5. In Colorado Revised Statutes, 24-77-106.5, amend25
	496	+	(1) as follows:26
	497	+	24-77-106.5. Annual financial report - certification of excess27
	498	+	303
	499	+	-13- state revenues. (1) (a) For each fiscal year, the controller shall prepare1
	500	+	a financial report for the state for purposes of ascertaining compliance2
	501	+	with the provisions of this article. Any financial report prepared pursuant3
	502	+	to this section shall include, but shall not be limited to, state fiscal year4
	503	+	spending, reserves, revenues, revenues that the state is authorized to5
	504	+	retain and spend pursuant to voter approval of section 24-77-103.6
	505	+	OR6
	506	+	PURSUANT TO PART 2 OF THIS ARTICLE 77, and debt. Such
	507	+	THE financial7
	508	+	report shall be audited by the state auditor.8
	509	+	(b) Notwithstanding section 24-1-136 (11)(a)(I), based upon the9
	510	+	financial report prepared in accordance with subsection (1)(a) of this10
	511	+	section for any given fiscal year, the controller shall certify to the11
	512	+	governor, the general assembly, and the executive director of the12
	513	+	department of revenue no later than September 1 following the end of a13
	514	+	fiscal year the amount of state revenues in excess of the limitation on14
	515	+	state fiscal year spending imposed by section 20 (7)(a) of article X of the15
	516	+	state constitution, if any, for such fiscal year and the state revenues in16
	517	+	excess of such limitation that the state is authorized to retain and spend17
	518	+	pursuant to voter approval of section 24-77-103.6
	519	+	OR PURSUANT TO PART18
	520	+	2
	521	+	OF THIS ARTICLE 77.19
	522	+	SECTION 6. In Colorado Revised Statutes, add 29-1-306 as20
	523	+	follows:21
	524	+	29-1-306. Limitation on property tax revenue - temporary22
	525	+	property tax credit - governing body override - notice - definitions.23
	526	+	(1) A
	527	+	S USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE24
	528	+	REQUIRES:25
	529	+	(a) "I
	530	+	NFLATION" MEANS THE ANNUAL PERCENTAGE CHANGE IN THE26
	531	+	U
	532	+	NITED STATES DEPARTMENT OF LABOR 'S BUREAU OF LABOR STATISTICS27
	533	+	303
	534	+	-14- CONSUMER PRICE INDEX FOR DENVER-AURORA-LAKEWOOD FOR ALL1
	535	+	ITEMS PAID BY ALL URBAN CONSUMERS , OR ITS APPLICABLE SUCCESSOR2
	536	+	INDEX.3
	537	+	(b) "L
	538	+	OCAL GOVERNMENT " MEANS A GOVERNMENTAL ENTITY4
	539	+	AUTHORIZED BY LAW TO IMPOSE AD VALOREM TAXES ON TAXABLE5
	540	+	PROPERTY LOCATED WITHIN ITS TERRITORIAL LIMITS ; EXCEPT THAT THE6
	541	+	TERM EXCLUDES SCHOOL DISTRICTS AND ANY COUNTY , CITY AND COUNTY,7
	542	+	CITY, OR TOWN THAT HAS ADOPTED A HOME RULE CHARTER .8
	543	+	(c) "P
	544	+	ROPERTY TAX LIMIT" MEANS THE LIMIT ESTABLISHED IN9
	545	+	SUBSECTION (2) OF THIS SECTION ON A LOCAL GOVERNMENT 'S PROPERTY10
	546	+	TAX REVENUE FOR A PROPERTY TAX YEAR .11
	547	+	(2) (a) F
	548	+	OR PROPERTY TAX YEARS COMMENCING ON AND AFTER12
	549	+	J
	550	+	ANUARY 1, 2023, A LOCAL GOVERNMENT'S PROPERTY TAX REVENUE FOR13
	551	+	A PROPERTY TAX YEAR SHALL NOT INCREASE BY MORE THAN INFLATION14
	552	+	FROM THE LOCAL GOVERNMENT 'S PROPERTY TAX REVENUE FOR THE PRIOR15
	553	+	PROPERTY TAX YEAR, UNLESS THE GOVERNING BODY OF THE LOCAL16
	554	+	GOVERNMENT APPROVES THE INCREASE IN ACCORDANCE WITH17
	555	+	SUBSECTION (4) OF THIS SECTION. THE GOVERNING BODY MAY ENACT A18
	556	+	TEMPORARY PROPERTY TAX CREDIT THAT IS UP TO THE NUMBER OF MILLS19
	557	+	NECESSARY TO PREVENT THE LOCAL GOVERNMENT 'S PROPERTY TAX20
	558	+	REVENUE FROM EXCEEDING THIS PROPERTY TAX LIMIT .21
	559	+	(b) T
	560	+	HE LIMIT SET FORTH IN SUBSECTION (2)(a) OF THIS SECTION22
	561	+	IS BASED ON THE UNITED STATES DEPARTMENT OF LABOR 'S BUREAU OF23
	562	+	LABOR STATISTICS MOST RECENTLY PUBLISHED ESTIMATE OF INFLATION24
	563	+	FOR THE PRIOR CALENDAR YEAR THAT IS AVAILABLE AS OF DECEMBER 1525
	564	+	OF THE PROPERTY TAX YEAR FOR WHICH THE LIMIT IS BEING CALCULATED . 26
	565	+	(3) (a) F
	566	+	OR PURPOSES OF CALCULATING THE PROPERTY TAX LIMIT ,27
	567	+	303
	568	+	-15- PROPERTY TAX REVENUE THAT IS FROM THE FOLLOWING SOURCES OR IS1
	569	+	USED FOR THE FOLLOWING PURPOSES IS EXCLUDED FROM PROPERTY TAX2
	570	+	REVENUE FOR THE PROPERTY TAX YEAR :3
	571	+	(I) P
	572	+	ROPERTY TAX REVENUE FROM THE INCREASED VALUATION FOR4
	573	+	ASSESSMENT WITHIN THE TAXING ENTITY FOR THE PRECEDING YEAR THAT5
	574	+	IS ATTRIBUTABLE TO NEW CONSTRUCTION AND PERSONAL PROPERTY6
	575	+	CONNECTED THEREWITH , AS DEFINED BY THE PROPERTY TAX7
	576	+	ADMINISTRATOR IN MANUALS PREPARED PURSUANT TO SECTION 39-2-1098
	577	+	(1)(e);9
	578	+	(II) P
	579	+	ROPERTY TAX REVENUE FROM THE INCREASED VALUATION10
	580	+	FOR ASSESSMENT ATTRIBUTABLE TO A CHANGE IN LAW FOR A PROPERTY11
	581	+	TAX CLASSIFICATION OR TO THE ANNEXATION OR INCLUSION OF12
	582	+	ADDITIONAL LAND, THE IMPROVEMENTS THEREON , AND PERSONAL13
	583	+	PROPERTY CONNECTED THEREWITH WITHIN THE TAXING ENTITY FOR THE14
	584	+	PRECEDING YEAR;15
	585	+	(III) P
	586	+	ROPERTY TAX REVENUE FOR PROPERTY THAT HAD16
	587	+	PREVIOUSLY BEEN OMITTED FROM THE ASSESSMENT ROLL ;17
	588	+	(IV) P
	589	+	ROPERTY TAX REVENUE ABATED OR REFUNDED BY THE18
	590	+	LOCAL GOVERNMENT DURING THE PROPERTY TAX YEAR ;19
	591	+	(V)
	592	+	PROPERTY TAX REVENUE ATTRIBUTABLE TO PREVIOUSLY20
	593	+	LEGALLY EXEMPT FEDERAL PROPERTY THAT BECOMES TAXABLE IF SUCH21
	594	+	PROPERTY CAUSES AN INCREASE IN THE LEVEL OF SERVICES PROVIDED BY22
	595	+	THE LOCAL GOVERNMENT ; AND23
	596	+	(VI) A
	597	+	NY AMOUNT FOR THE PAYMENT OF EXPENSES INCURRED IN24
	598	+	THE REAPPRAISAL OF CLASSES OR SUBCLASSES ORDERED OR CONDUCTED25
	599	+	BY THE STATE BOARD OF EQUALIZATION FOR THE PAYMENT TO THE STATE26
	600	+	OF EXCESS STATE EQUALIZATION PAYMENTS TO SC HOOL DISTRICTS , WHICH27
	601	+	303
	602	+	-16- EXCESS IS DUE TO THE UNDERVALUATION OF TAXABLE PROPERTY .1
	603	+	(b) F
	604	+	OR PURPOSES OF CALCULATING THE PROPERTY TAX LIMIT ,2
	605	+	PROPERTY TAX REVENUE THAT IS FROM THE FOLLOWING SOURCES OR IS3
	606	+	USED FOR THE FOLLOWING PURPOSES IS EXCLUDED FROM PROPERTY TAX4
	607	+	REVENUE FOR THE PROPERTY TAX YEAR AND THE PRIOR PROPERTY TAX5
	608	+	YEAR:6
	609	+	(I) P
	610	+	ROPERTY TAX REVENUE FROM PRODUCING MINES OR L ANDS OR7
	611	+	LEASEHOLDS PRODUCING OIL OR GAS ;
	612	+	8
	613	+	(II) A
	614	+	N AMOUNT TO PROVIDE FOR THE PAYMENT OF BONDS AND9
	615	+	INTEREST THEREON, OR FOR THE PAYMENT OF ANY OTHER CONTRACTUAL10
	616	+	OBLIGATION THAT HAS BEEN APPROVED BY A MAJORITY OF THE LOCAL11
	617	+	GOVERNMENT'S VOTERS VOTING THEREON AT ANY ELECTION HELD
	618	+	12
	619	+	BEFORE, ON, OR AFTER NOVEMBER 7, 2023; AND13
	620	+	(III) A
	621	+	NY REVENUE FROM A MILL LEVY THAT HAS BEEN APPROVED14
	622	+	BY VOTERS OF THE LOCAL
	623	+	GOVERNMENT, WITHOUT LIMITATION AS TO15
	624	+	RATE OR AMOUNT, AT ANY ELECTION HELD BEFORE , ON, OR AFTER16
	625	+	N
	626	+	OVEMBER 7, 2023.
	627	+	17
	628	+	(c) A
	629	+	TEMPORARY PROPERTY TAX CREDIT CREATED UNDER18
196	630		SUBSECTION
197		-	(1)(b)(I) OF THIS SECTION, THE GENERAL ASSEMBLY MAY ,
198		-	WITHOUT ADDITIONAL VOTER APPROVAL , ENACT LEGISLATION TO RESTORE
199		-	THE CAP FOR A FISCAL YEAR TO AN AMOUNT THAT IS LESS THAN OR EQUAL
200		-	TO THE AMOUNT THAT THE PROPOSITION
201		-	HH CAP WOULD HAVE BEEN FOR
202		-	THE FISCAL YEAR UNDER SUBSECTION
203		-	(1)(a)(II) OF THIS SECTION IF
204		-	SUBSECTION
205		-	(1)(b)(I) OF THIS SECTION HAD NOT APPLIED IF , FOR THE
206		-	PROPERTY TAX YEAR THAT ENDS DURING THE FISCAL YEAR
207		-	, THE GENERAL
208		-	ASSEMBLY
209		-	:
210		-	(A) E
211		-	STABLISHES VALUATIONS FOR ASSESSMENT THAT ARE LESS
212		-	THAN OR EQUAL TO THE TEMPORARILY REDUCED VALUATIONS FOR
213		-	ASSESSMENT ESTABLISHED IN SECTIONS
214		-	39-1-104 (1)(b)(V), (1.8)(a)(III),
215		-	(1.8)(a)(IV),
216		-	AND (1.8)(b)(VI) AND 39-1-104.2 (3)(q)(III) AND (3)(r)(IV) IN
217		-	SENATE BILL 23-303 FOR THE PROPERTY TAX YEAR COMMENCING ON
218		-	JANUARY 1, 2032, FOR THE SAME CLASSES OF PROPERTY; OR
219		-	(B) REDUCES THE VALUATIONS FOR ASSESSMENT DIFFERENTLY FROM
220		-	THE VALUATIONS FOR ASSESSMENT ESTABLISHED IN
221		-	SENATE BILL 23-303,
222		-	BUT THE AGGREGATE REDUCTION IN THE VALUATION FOR ASSESSMENT
223		-	STATEWIDE FROM THE REDUCTIONS IS GREATER THAN OR EQUAL TO THE
224		-	ESTIMATED AGGREGATE REDUCTION IN THE VALUATION FOR ASSESSMENTS
225		-	FROM THE MINIMUM REDUCTIONS IN VALUATION FOR ASSESSMENT
226		-	NECESSARY TO MEET THE CONDITION SPECIFIED IN SUBSECTION
227		-	(1)(b)(II)(A)
228		-	OF THIS SECTION.
229		-	(c) F
230		-	OR PURPOSES OF THE CALCULATION SET FORTH IN THIS
231		-	SUBSECTION
232		-	(1):
233		-	(I) I
234		-	NFLATION AND THE PERCENTAGE CHANGE IN STATE POPULATION
235		-	ARE THE SAME RATES THAT ARE USED IN CALCULATING THE MAXIMUM
236		-	ANNUAL PERCENTAGE CHANGE IN STATE FISCAL YEAR SPENDING PURSUANT
237		-	TO SECTION
238		-	24-77-103; AND
239		-	(II) THE QUALIFICATION OR DISQUALIFICATION OF AN ENTERPRISE OR
240		-	PAGE 5-SENATE BILL 23-303 A DEBT SERVICE CHANGE AFFECTS THE PROPOSITION HH CAP IN THE SAME
241		-	MANNER AS THE CHANGE AFFECTS THE LIMITATION ON STATE FISCAL YEAR
242		-	SPENDING
243		-	.
244		-	(2) T
245		-	HIS SECTION DOES NOT AFFECT THE AMOUNT THAT THE STATE
246		-	IS PERMITTED TO RETAIN AND SPEND UNDER THE AUTHORITY CONFERRED BY
247		-	THE VOTERS
248		-	' APPROVAL OF SECTION 24-77-103.6.
249		-	(3) (a) T
250		-	HE PROPOSITION HH GENERAL FUND EXEMPT ACCOUNT IS
251		-	HEREBY CREATED IN THE GENERAL FUND
252		-	. THE ACCOUNT CONSISTS OF AN
253		-	AMOUNT EQUAL TO THE AMOUNT OF STATE SURPLUS THAT THE STATE IS
254		-	AUTHORIZED TO RETAIN AND SPEND UNDER THIS PART
255		-	2 FOR THE PRIOR
256		-	FISCAL YEAR
257		-	, IF ANY. THE STATE TREASURER SHALL CREDIT ALL INTEREST
258		-	AND INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY IN
259		-	THE PROPOSITION
260		-	HH GENERAL FUND EXEMPT ACCOUNT TO THE ACCOUNT .
	631	+	(2)(a) OF THIS SECTION DOES NOT CHANGE THE UNDERLYING19
	632	+	MILL LEVY IMPOSED BY A LOCAL GOVERNMENT . REDUCING OR20
	633	+	ELIMINATING A TEMPORARY PROPERTY TAX CREDIT DOES NOT REQUIRE21
	634	+	PRIOR VOTER APPROVAL UNDER SECTION 20 (4)(a) OF ARTICLE X OF THE22
	635	+	STATE CONSTITUTION.23
	636	+	(4) A
	637	+	LOCAL GOVERNMENT MAY IMPOSE A MILL LEVY THAT WOULD24
	638	+	EXCEED THE PROPERTY TAX LIMIT IF THE FOLLOWING PROCEDURES ARE25
	639	+	FOLLOWED:26
	640	+	(a) T
	641	+	HE GOVERNING BODY OF THE LOCAL GOVERNMENT MUST27
	642	+	303
	643	+	-17- PUBLISH NOTICE OF ITS PROPOSED INTENT TO EXCEED THE PROPERTY TAX1
	644	+	LIMIT IN A NEWSPAPER IN EACH COUNTY IN WHICH THE LOCAL2
	645	+	GOVERNMENT IS LOCATED AND ON THE WEBSITE OF THE GOVERNING BODY ,3
	646	+	IF THE GOVERNING BODY MAINTAINS A WEBSITE , AT LEAST TEN DAYS IN4
	647	+	ADVANCE OF THE PUBLIC HEARING AT WHICH THE MILL LEVY IS TO BE5
	648	+	APPROVED;6
261	649		(b) T
262		-	HE MONEY IN THE ACCOUNT FOR EACH FISCAL YEAR BEGINNING
263		-	WITH THE
264		-	2023-24 FISCAL YEAR MUST BE USED AS FOLLOWS :
	650	+	HE NOTICE MUST INCLUDE:7
265	651		(I) T
266		-	HE MONEY IS FIRST USED TO PROVIDE REIMBURSEMENTS TO
267		-	LOCAL GOVERNMENTS UNDER SECTION
268		-	39-3-210 (4)(a)(II);
269		-	(II) I
270		-	F THERE IS ANY MONEY REMAINING AFTER THE ALLOCATION SET
271		-	FORTH IN SUBSECTION
272		-	(3)(b)(I) OF THIS SECTION, THE STATE TREASURER
273		-	SHALL TRANSFER AN AMOUNT EQUAL TO THE REMAINDER
274		-	, FIVE PERCENT OF
275		-	THE TOTAL AMOUNT IN THE ACCOUNT FOR THE FISCAL YEAR
276		-	, OR TWENTY
277		-	MILLION DOLLARS
278		-	, WHICHEVER AMOUNT IS THE LEAST , TO THE HOUSING
279		-	DEVELOPMENT GRANT FUND CREATED IN SECTION
280		-	24-32-721 (1) TO BE USED
281		-	TO REDUCE THE AMOUNT OF PROPERTY TAXES THAT ARE PAID AS A PORTION
282		-	OF A TENANT
283		-	'S RENT THROUGH A PROGRAM ESTABLISHED UNDER
284		-	SUBSECTION
285		-	(2)(d)(VI) OF SAID SECTION; AND
286		-	(III) AS SOON AS POSSIBLE AFTER RECEIVING THE REPORT FROM THE
287		-	PROPERTY TAX ADMINISTRATOR IN ACCORDANCE WITH SECTION
288		-	39-3-210
289		-	(3),
290		-	THE STATE TREASURER SHALL TRANSFER THE AMOUNT , IF ANY, IN THE
291		-	ACCOUNT THAT IS IN EXCESS OF THE AMOUNT THAT WILL BE USED IN
292		-	ACCORDANCE WITH SUBSECTIONS
293		-	(3)(b)(I) AND (3)(b)(II) OF THIS SECTION
294		-	TO THE STATE EDUCATION FUND CREATED IN SECTION
295		-	17 OF ARTICLE IX OF
296		-	THE STATE CONSTITUTION
297		-	.
298		-	PAGE 6-SENATE BILL 23-303 (4) THE GENERAL ASSEMBLY HEREBY FINDS AND DECLARES THAT :
299		-	(a) P
300		-	UBLIC SCHOOL FUNDING CONSISTS OF A COMBINATION OF STATE
301		-	AND LOCAL SCHOOL DISTRICT REVENUE
302		-	;
303		-	(b) U
304		-	NDER THE CURRENT SCHOOL FINANCE FORMULA , AN INCREASE
305		-	IN STATE FUNDING CAN BACKFILL A DECREASE IN LOCAL PROPERTY TAX
306		-	REVENUE
307		-	;
308		-	(c) R
309		-	EDUCTIONS IN PROPERTY TAX VALUATIONS REDUCE THE LOCAL
310		-	PROPERTY TAX REVENUE COLLECTED FOR LOCAL GOVERNMENTS
311		-	, INCLUDING
312		-	SCHOOL DISTRICTS
313		-	;
314		-	(d) M
315		-	ONEY IN THE STATE EDUCATION FUND IS USED TO PROVIDE
316		-	FUNDING FOR LOCAL SCHOOL DISTRICTS
317		-	; AND
318		-	(e) IT IS THE INTENT OF THE GENERAL ASSEMBLY THAT
319		-	TRANSFERRING A PORTION OF THE MONEY FROM THE ACCOUNT TO THE STATE
320		-	EDUCATION FUND IN ACCORDANCE WITH SUBSECTION
321		-	(3) OF THIS SECTION
322		-	PROVIDES ADDITIONAL FUNDING TO LOCAL SCHOOL DISTRICTS IN ORDER TO
323		-	BACKFILL PROPERTY TAX REVENUE REDUCTIONS RESULTING FROM PROPERTY
324		-	TAX CHANGES ENACTED IN
325		-	SENATE BILL 23-303 AND THAT THE MONEY SO
326		-	TRANSFERRED SHALL NOT SUPPLANT GENERAL FUND APPROPRIATIONS MADE
327		-	FOR SCHOOL DISTRICTS
328		-	' TOTAL PROGRAM, AS DEFINED BY SECTION 22-54-103
329		-	(6).
330		-	24-77-204. Repeal. (1) I
331		-	F A MAJORITY OF THE ELECTORS VOTING ON
332		-	THE BALLOT ISSUE VOTE
333		-	"NO/AGAINST", THEN THIS PART 2 IS REPEALED,
334		-	EFFECTIVE JULY 1, 2024.
335		-	(2) I
336		-	F A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE
337		-	VOTE
338		-	"YES/FOR", THEN THIS SECTION IS REPEALED, EFFECTIVE JULY 1, 2024.
339		-	SECTION 4. In Colorado Revised Statutes, 22-55-103, amend (1)
340		-	as follows:
341		-	22-55-103. State education fund - creation - transfers to fund -
342		-	use of money in fund - permitted investments - exempt from spending
343		-	limitations. (1) In accordance with section 17 (4) of article IX of the state
344		-	constitution, there is hereby created in the state treasury the state education
345		-	PAGE 7-SENATE BILL 23-303 fund. The fund shall consist CONSISTS of state education fund revenues,
346		-	MONEY TRANSFERRED TO THE FUND IN ACCORDANCE WITH SECTION
347		-	24-77-203 (3)(b)(III), all interest and income earned on the deposit and
348		-	investment of moneys MONEY in the fund, and any gifts or other moneys
349		-	MONEY that are exempt from the limitation on state fiscal year spending set
350		-	forth in section 20 (7)(a) of article X of the state constitution and section
351		-	24-77-103 C.R.S.,
352		-	that may be credited to the fund. All interest and income
353		-	derived from the deposit and investment of moneys MONEY in the fund shall
354		-	be ARE credited to the fund. At the end of any state fiscal year, all
355		-	unexpended and unencumbered moneys MONEY in the fund shall remain
356		-	REMAINS in the fund and shall not revert to the general fund or any other
357		-	fund.
358		-	SECTION 5. In Colorado Revised Statutes, 24-77-106.5, amend
359		-	(1) as follows:
360		-	24-77-106.5. Annual financial report - certification of excess
361		-	state revenues. (1) (a) For each fiscal year, the controller shall prepare a
362		-	financial report for the state for purposes of ascertaining compliance with
363		-	the provisions of this article. Any financial report prepared pursuant to this
364		-	section shall include, but shall not be limited to, state fiscal year spending,
365		-	reserves, revenues, revenues that the state is authorized to retain and spend
366		-	pursuant to voter approval of section 24-77-103.6
367		-	OR PURSUANT TO PART 2
368		-	OF THIS ARTICLE 77, and debt. Such
369		-	THE financial report shall be audited by
370		-	the state auditor.
371		-	(b) Notwithstanding section 24-1-136 (11)(a)(I), based upon the
372		-	financial report prepared in accordance with subsection (1)(a) of this section
373		-	for any given fiscal year, the controller shall certify to the governor, the
374		-	general assembly, and the executive director of the department of revenue
375		-	no later than September 1 following the end of a fiscal year the amount of
376		-	state revenues in excess of the limitation on state fiscal year spending
377		-	imposed by section 20 (7)(a) of article X of the state constitution, if any, for
378		-	such fiscal year and the state revenues in excess of such limitation that the
379		-	state is authorized to retain and spend pursuant to voter approval of section
380		-	24-77-103.6
381		-	OR PURSUANT TO PART 2 OF THIS ARTICLE 77.
382		-	SECTION 6. In Colorado Revised Statutes, add 29-1-306 as
383		-	follows:
384		-	PAGE 8-SENATE BILL 23-303 29-1-306. Limitation on property tax revenue - temporary
385		-	property tax credit - governing body override - notice - definitions. (1)
386		-	A
387		-	S USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE REQUIRES :
388		-	(a) "I
389		-	NFLATION" MEANS THE ANNUAL PERCENTAGE CHANGE IN THE
390		-	UNITED STATES DEPARTMENT OF LABOR 'S BUREAU OF LABOR STATISTICS
391		-	CONSUMER PRICE INDEX FOR
392		-	DENVER-AURORA-LAKEWOOD FOR ALL ITEMS
393		-	PAID BY ALL URBAN CONSUMERS
394		-	, OR ITS APPLICABLE SUCCESSOR INDEX.
395		-	(b) "L
396		-	OCAL GOVERNMENT " MEANS A GOVERNMENTAL ENTITY
397		-	AUTHORIZED BY LAW TO IMPOSE AD VALOREM TAXES ON TAXABLE PROPERTY
398		-	LOCATED WITHIN ITS TERRITORIAL LIMITS
399		-	; EXCEPT THAT THE TERM
400		-	EXCLUDES SCHOOL DISTRICTS AND ANY COUNTY
401		-	, CITY AND COUNTY, CITY,
402		-	OR TOWN THAT HAS ADOPTED A HOME RULE CHARTER .
403		-	(c) "P
404		-	ROPERTY TAX LIMIT" MEANS THE LIMIT ESTABLISHED IN
405		-	SUBSECTION
406		-	(2) OF THIS SECTION ON A LOCAL GOVERNMENT'S PROPERTY TAX
407		-	REVENUE FOR A PROPERTY TAX YEAR
408		-	.
409		-	(2) (a) F
410		-	OR PROPERTY TAX YEARS COMMENCING ON AND AFTER
411		-	JANUARY 1, 2023, A LOCAL GOVERNMENT'S PROPERTY TAX REVENUE FOR A
412		-	PROPERTY TAX YEAR SHALL NOT INCREASE BY MORE THAN INFLATION FROM
413		-	THE LOCAL GOVERNMENT
414		-	'S PROPERTY TAX REVENUE FOR THE PRIOR
415		-	PROPERTY TAX YEAR
416		-	, UNLESS THE GOVERNING BODY OF THE LOCAL
417		-	GOVERNMENT APPROVES THE INCREASE IN ACCORDANCE WITH SUBSECTION
418		-	(4) OF THIS SECTION. THE GOVERNING BODY MAY ENACT A TEMPORARY
419		-	PROPERTY TAX CREDIT THAT IS UP TO THE NUMBER OF MILLS NECESSARY TO
420		-	PREVENT THE LOCAL GOVERNMENT
421		-	'S PROPERTY TAX REVENUE FROM
422		-	EXCEEDING THIS PROPERTY TAX LIMIT
423		-	.
424		-	(b) T
425		-	HE LIMIT SET FORTH IN SUBSECTION (2)(a) OF THIS SECTION IS
426		-	BASED ON THE
427		-	UNITED STATES DEPARTMENT OF LABOR'S BUREAU OF LABOR
428		-	STATISTICS MOST RECENTLY PUBLISHED ESTIMATE OF INFLATION FOR THE
429		-	PRIOR CALENDAR YEAR THAT IS AVAILABLE AS OF
430		-	DECEMBER 15 OF THE
431		-	PROPERTY TAX YEAR FOR WHICH THE LIMIT IS BEING CALCULATED
432		-	.
433		-	(3) (a) F
434		-	OR PURPOSES OF CALCULATING THE PROPERTY TAX LIMIT ,
435		-	PROPERTY TAX REVENUE THAT IS FROM THE FOLLOWING SOURCES OR IS USED
436		-	FOR THE FOLLOWING PURPOSES IS EXCLUDED FROM PROPERTY TAX REVENUE
437		-	FOR THE PROPERTY TAX YEAR
438		-	:
439		-	PAGE 9-SENATE BILL 23-303 (I) PROPERTY TAX REVENUE FROM THE INCREASED VALUATION FOR
440		-	ASSESSMENT WITHIN THE TAXING ENTITY FOR THE PRECEDING YEAR THAT IS
441		-	ATTRIBUTABLE TO NEW CONSTRUCTION AND PERSONAL PROPERTY
442		-	CONNECTED THEREWITH
443		-	, AS DEFINED BY THE PROPERTY TAX
444		-	ADMINISTRATOR IN MANUALS PREPARED PURSUANT TO SECTION
445		-	39-2-109
446		-	(1)(e);
447		-	(II) P
448		-	ROPERTY TAX REVENUE FROM THE INCREASED VALUATION FOR
449		-	ASSESSMENT ATTRIBUTABLE TO A CHANGE IN LAW FOR A PROPERTY TAX
450		-	CLASSIFICATION OR TO THE ANNEXATION OR INCLUSION OF ADDITIONAL
451		-	LAND
452		-	, THE IMPROVEMENTS THEREON, AND PERSONAL PROPERTY CONNECTED
453		-	THEREWITH WITHIN THE TAXING ENTITY FOR THE PRECEDING YEAR
454		-	;
455		-	(III) P
456		-	ROPERTY TAX REVENUE FOR PROPERTY THAT HAD PREVIOUSLY
457		-	BEEN OMITTED FROM THE ASSESSMENT ROLL
458		-	;
459		-	(IV) P
460		-	ROPERTY TAX REVENUE ABATED OR REFUNDED BY THE LOCAL
461		-	GOVERNMENT DURING THE PROPERTY TAX YEAR
462		-	;
463		-	(V) P
464		-	ROPERTY TAX REVENUE ATTRIBUTABLE TO PREVIOUSLY
465		-	LEGALLY EXEMPT FEDERAL PROPERTY THAT BECOMES TAXABLE IF SUCH
466		-	PROPERTY CAUSES AN INCREASE IN THE LEVEL OF SERVICES PROVIDED BY
467		-	THE LOCAL GOVERNMENT
468		-	; AND
469		-	(VI) ANY AMOUNT FOR THE PAYMENT OF EXPENSES INCURRED IN THE
470		-	REAPPRAISAL OF CLASSES OR SUBCLASSES ORDERED OR CONDUCTED BY THE
471		-	STATE BOARD OF EQUALIZATION FOR THE PAYMENT TO THE STATE OF EXCESS
472		-	STATE EQUALIZATION PAYMENTS TO SCHOOL DISTRICTS
473		-	, WHICH EXCESS IS
474		-	DUE TO THE UNDERVALUATION OF TAXABLE PROPERTY
475		-	.
476		-	(b) F
477		-	OR PURPOSES OF CALCULATING THE PROPERTY TAX LIMIT ,
478		-	PROPERTY TAX REVENUE THAT IS FROM THE FOLLOWING SOURCES OR IS USED
479		-	FOR THE FOLLOWING PURPOSES IS EXCLUDED FROM PROPERTY TAX REVENUE
480		-	FOR THE PROPERTY TAX YEAR AND THE PRIOR PROPERTY TAX YEAR
481		-	:
482		-	(I) P
483		-	ROPERTY TAX REVENUE FROM PRODUCING MINES OR LANDS OR
484		-	LEASEHOLDS PRODUCING OIL OR GAS
485		-	;
	652	+	HE PROPOSED MILL LEVY IF THE GOVERNING BODY APPROVES8
	653	+	A MILL LEVY THAT WOULD EXCEED THE PROPERTY TAX LIMIT ;9
486	654		(II) A
487		-	N AMOUNT TO PROVIDE FOR THE PAYMENT OF BONDS AND
488		-	INTEREST THEREON
489		-	, OR FOR THE PAYMENT OF ANY OTHER CONTRACTUAL
490		-	PAGE 10-SENATE BILL 23-303 OBLIGATION THAT HAS BEEN APPROVED BY A MAJORITY OF THE LOCAL
491		-	GOVERNMENT
492		-	'S VOTERS VOTING THEREON AT ANY ELECTION HELD BEFORE ,
493		-	ON, OR AFTER NOVEMBER 7, 2023; AND
494		-	(III) ANY REVENUE FROM A MILL LEVY THAT HAS BEEN APPROVED BY
495		-	VOTERS OF THE LOCAL GOVERNMENT
496		-	, WITHOUT LIMITATION AS TO RATE OR
497		-	AMOUNT
498		-	, AT ANY ELECTION HELD BEFORE , ON, OR AFTER NOVEMBER 7,
499		-	2023.
500		-	(c) A
501		-	TEMPORARY PROPERTY TAX CREDIT CREATED UNDER
502		-	SUBSECTION
503		-	(2)(a) OF THIS SECTION DOES NOT CHANGE THE UNDERLYING
504		-	MILL LEVY IMPOSED BY A LOCAL GOVERNMENT
505		-	. REDUCING OR ELIMINATING
506		-	A TEMPORARY PROPERTY TAX CREDIT DOES NOT REQUIRE PRIOR VOTER
507		-	APPROVAL UNDER SECTION
508		-	20 (4)(a) OF ARTICLE X OF THE STATE
509		-	CONSTITUTION
510		-	.
511		-	(4) A
512		-	LOCAL GOVERNMENT MAY IMPOSE A MILL LEVY THAT WOULD
513		-	EXCEED THE PROPERTY TAX LIMIT IF THE FOLLOWING PROCEDURES ARE
514		-	FOLLOWED
515		-	:
516		-	(a) T
517		-	HE GOVERNING BODY OF THE LOCAL GOVERNMENT MUST
518		-	PUBLISH NOTICE OF ITS PROPOSED INTENT TO EXCEED THE PROPERTY TAX
519		-	LIMIT IN A NEWSPAPER IN EACH COUNTY IN WHICH THE LOCAL GOVERNMENT
520		-	IS LOCATED AND ON THE WEBSITE OF THE GOVERNING BODY
521		-	, IF THE
522		-	GOVERNING BODY MAINTAINS A WEBSITE
523		-	, AT LEAST TEN DAYS IN ADVANCE
524		-	OF THE PUBLIC HEARING AT WHICH THE MILL LEVY IS TO BE APPROVED
525		-	;
526		-	(b) T
527		-	HE NOTICE MUST INCLUDE:
528		-	(I) T
529		-	HE PROPOSED MILL LEVY IF THE GOVERNING BODY APPROVES A
530		-	MILL LEVY THAT WOULD EXCEED THE PROPERTY TAX LIMIT
531		-	;
532		-	(II) A
533		-	NY TEMPORARY PROPERTY TAX CREDITS ; AND
534		-	(III) THE DATE, TIME, AND LOCATION OF THE PUBLIC HEARING;
	655	+	NY TEMPORARY PROPERTY TAX CREDITS ; AND10
	656	+	(III)
	657	+	THE DATE, TIME, AND LOCATION OF THE PUBLIC HEARING;11
535	658		(c) T
536		-	HE GOVERNING BODY OF THE LOCAL GOVERNMENT ~~MUST~~
537		-	PROVIDE THE PUBLIC AN OPPORTUNITY TO PRESENT ORAL TESTIMONY ~~AT AN~~
538		-	OPEN MEETING WITHIN REASONABLE TIME LIMITS AND WITHOUT AN
539		-	UNREASONABLE RESTRICTION ON THE NUMBER OF ~~INDIVI DUALS ALLOWED TO~~
540		-	~~PAGE 11-SENATE BILL 23-303~~ MAKE PUBLIC COMMENT ; ~~AND~~
541		-	(d) ~~THE GOVERNING BODY OF THE LOCAL GOVERNMENT MUST ADOPT~~
542		-	~~A RESOLUTION OR ORDINANCE TO APPROVE A MILL LEVY THAT EXCEEDS~~ THE
543		-	~~PROPERTY TAX LIMIT AT THE PUBLIC HEARING AFTER THE GOVERNING BODY~~
544		-	~~HAS HEARD FROM INTERESTED TAXPAYERS~~
545		-	.
	659	+	HE GOVERNING BODY OF THE LOCAL GOVERNMENT MUST12
	660	+	PROVIDE THE PUBLIC AN OPPORTUNITY TO PRESENT ORAL TESTIMONY AT13
	661	+	AN OPEN MEETING WITHIN REASONABLE TIME LIMITS AND WITHOUT AN14
	662	+	UNREASONABLE RESTRICTION ON THE NUMBER OF INDIVIDUALS ALLOWED15
	663	+	TO MAKE PUBLIC COMMENT ; AND16
	664	+	(d) T
	665	+	HE GOVERNING BODY OF THE LOCAL GOVERNMENT MUST17
	666	+	ADOPT A RESOLUTION OR ORDINANCE TO APPROVE A MILL LEVY THAT18
	667	+	EXCEEDS THE PROPERTY TAX LIMIT AT THE PUBLIC HEARING AFTER THE19
	668	+	GOVERNING BODY HAS HEARD FROM INTERESTED TAXPAYERS .20
546	669		(5) T
547	670		HE FINAL DECISION BY A GOVERNING BODY TO IMPOSE A MILL
548		-	LEVY THAT EXCEEDS THE PROPERTY TAX LIMIT IN ACCORDANCE WITH THE
549		-	PROCEDURES SET FORTH IN SUBSECTION
550		-	(4) OF THIS SECTION IS DEEMED TO
551		-	BE FINAL AND CONCLUSIVE AND IS NOT SUBJECT TO APPEAL TO COURT
552		-	.
553		-	(6) I
554		-	F A LOCAL GOVERNMENT EXCEEDS THE PROPERTY TAX LIMIT FOR
555		-	A PROPERTY TAX YEAR AND DOES NOT COMPLY WITH SUBSECTION
556		-	(4) OF THIS
557		-	SECTION
558		-	, THEN THE LOCAL GOVERNMENT SHALL REF UND TO TAXPAYERS ANY
559		-	PROPERTY TAXES COLLECTED ABOVE THE PROPERTY TAX LIMIT
560		-	.
561		-	SECTION 7. In Colorado Revised Statutes, 39-1-103, add (5)(g)
562		-	as follows:
563		-	39-1-103. Actual value determined - when - legislative
564		-	declaration. (5) (g) F
565		-	OR PROPERTY TAX YEARS COMMENCING ON AND
566		-	AFTER
567		-	JANUARY 1, 2024, THE ACTUAL VALUE OF RENEWABLE ENERGY
568		-	AGRICULTURAL LAND IS BASED ON THE WASTE LAND SUBCLASS VALUATION
569		-	FORMULA PROVIDED BY THE ADMINISTRATOR
570		-	. IF ANY PORTION OF THE LAND
571		-	IS USED FOR NONAGRICULTURAL COMMERCIAL OR NONAGRICULTURAL
572		-	RESIDENTIAL PURPOSES
573		-	, THAT PORTION IS VALUED ACCORDING TO THE USE ,
574		-	AS REQUIRED BY SUBSECTION (5)(a) OF THIS SECTION.
575		-	SECTION 8. In Colorado Revised Statutes, 39-1-104, amend (1),
576		-	(1.6)(c), and (1.8); and add (1.9) as follows:
577		-	39-1-104. Valuation for assessment - definitions. (1) (a) E
578		-	XCEPT
579		-	AS SET FORTH IN SUBSECTION
580		-	(1)(b) OF THIS SECTION, the valuation for
581		-	assessment of all taxable property
582		-	REAL AND PERSONAL PROPERTY THAT IS
583		-	CLASSIFIED AS LODGING PROPERTY
584		-	in the state shall be
585		-	IS twenty-nine
586		-	percent of the actual value thereof. as determined by the assessor and the
587		-	administrator in the manner prescribed by law, and that percentage shall be
588		-	uniformly applied, without exception, to the actual value, so determined, of
589		-	the real and personal property located within the territorial limits of the
590		-	PAGE 12-SENATE BILL 23-303 authority levying a property tax, and all property taxes shall be levied
591		-	against the aggregate valuation for assessment resulting from the
592		-	application of that percentage.
593		-	(b) (I) Notwithstanding subsection (1)(a) of this section, For the
594		-	property tax year commencing on January 1, 2023, the valuation for
595		-	assessment of nonresidential property that is classified as lodging property
596		-	is temporarily reduced to twenty-seven and nine-tenths
597		-	TWENTY-SEVEN AND
598		-	EIGHTY
599		-	-FIVE ONE-HUNDREDTHS percent of an amount equal to the actual
600		-	value minus the lesser of thirty thousand dollars or the amount that reducesCAUSES the valuation for assessment to BE one thousand dollars.
	671	+	21
	672	+	LEVY THAT EXCEEDS THE PROPERTY TAX LIMIT IN ACCORDANCE WITH THE22
	673	+	PROCEDURES SET FORTH IN SUBSECTION (4) OF THIS SECTION IS DEEMED TO23
	674	+	BE FINAL AND CONCLUSIVE AND IS NOT SUBJECT TO APPEAL TO COURT .24
	675	+	(6) IF A LOCAL GOVERNMENT EXCEEDS THE PROPERTY TAX LIMIT25
	676	+	FOR A PROPERTY TAX YEAR AND DOES NOT COMPLY WITH SUBSECTION (4)26
	677	+	OF THIS SECTION, THEN THE LOCAL GOVERNMENT SHALL REFUND TO27
	678	+	303
	679	+	-18- TAXPAYERS ANY PROPERTY TAXES COLLECTED ABOVE THE PROPERTY TAX1
	680	+	LIMIT.2
	681	+	SECTION 7. In Colorado Revised Statutes, 39-1-103, add (5)(g)3
	682	+	as follows:4
	683	+	39-1-103. Actual value determined - when - legislative5
	684	+	declaration. (5) (g) FOR PROPERTY TAX YEARS COMMENCING ON AND6
	685	+	AFTER JANUARY 1, 2024, THE ACTUAL VALUE OF RENEWABLE ENERGY7
	686	+	AGRICULTURAL LAND IS BASED ON THE WASTE LAND SUBCLASS8
	687	+	VALUATION FORMULA PROVIDED BY THE ADMINISTRATOR . IF ANY PORTION9
	688	+	OF THE LAND IS USED FOR NONAGRICULTURAL COMMERCIAL OR10
	689	+	NONAGRICULTURAL RESIDENTIAL PURPOSES , THAT PORTION IS VALUED11
	690	+	ACCORDING TO THE USE, AS REQUIRED BY SUBSECTION (5)(a) OF THIS12
	691	+	SECTION.13
	692	+	SECTION 8. In Colorado Revised Statutes, 39-1-104, amend (1),14
	693	+	(1.6)(c), and (1.8); and add (1.9) as follows:15
	694	+	39-1-104. Valuation for assessment - definitions.16
	695	+	(1) (a) E
	696	+	XCEPT AS SET FORTH IN SUBSECTION (1)(b) OF THIS SECTION, the17
	697	+	valuation for assessment of all taxable property
	698	+	REAL AND PERSONAL18
	699	+	PROPERTY THAT IS CLASSIFIED AS LODGING PROPERTY in the state shall be19
	700	+	IS twenty-nine percent of the actual value thereof. as determined by the20
	701	+	assessor and the administrator in the manner prescribed by law, and that21
	702	+	percentage shall be uniformly applied, without exception, to the actual22
	703	+	value, so determined, of the real and personal property located within the23
	704	+	territorial limits of the authority levying a property tax, and all property24
	705	+	taxes shall be levied against the aggregate valuation for assessment25
	706	+	resulting from the application of that percentage.26
	707	+	(b) (I) Notwithstanding subsection (1)(a) of this section, For the27
	708	+	303
	709	+	-19- property tax year commencing on January 1, 2023, the valuation for1
	710	+	assessment of nonresidential property that is classified as lodging2
	711	+	property is temporarily reduced to twenty-seven and nine-tenths3
	712	+	TWENTY-SEVEN AND EIGHTY-FIVE ONE-HUNDREDTHS percent of an4
	713	+	amount equal to the actual value minus the lesser of thirty thousand5
	714	+	dollars or the amount that reduces CAUSES the valuation for assessment6
	715	+	to
	716	+	BE one thousand dollars.7
601	717		(II) F
602		-	OR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER
603		-	JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2027, THE VALUATION FOR
604		-	ASSESSMENT OF REAL AND PERSONAL PROPERTY THAT IS CLASSIFIED AS
605		-	LODGING PROPERTY IS TEMPORARILY REDUCED TO TWENTY
606		-	-SEVEN AND
607		-	EIGHTY
608		-	-FIVE ONE-HUNDREDTHS PERCENT OF THE ACTUAL VALUE THEREOF .
	718	+	OR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER8
	719	+	J
	720	+	ANUARY 1, 2024, BUT BEFORE JANUARY 1, 2027, THE VALUATION FOR9
	721	+	ASSESSMENT OF REAL AND PERSONAL PROPERTY THAT IS CLASSIFIED AS10
	722	+	LODGING PROPERTY IS TEMPORARILY REDUCED TO TWENTY -SEVEN AND11
	723	+	EIGHTY-FIVE ONE-HUNDREDTHS PERCENT OF THE ACTUAL VALUE THEREOF .12
609	724		(III) F
610		-	OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
	725	+	OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,13
611	726		2027,
612		-	AND JANUARY 1, 2028, THE VALUATION FOR ASSESSMENT OF REAL
613		-	AND PERSONAL PROPERTY THAT IS CLASSIFIED AS LODGING PROPERTY IS
614		-	TEMPORARILY REDUCED TO TWENTY
615		-	-SEVEN AND SIXTY -FIVE
616		-	ONE
617		-	-HUNDREDTHS PERCENT OF THE ACTUAL VALUE THEREOF .
	727	+	AND JANUARY 1, 2028, THE VALUATION FOR ASSESSMENT OF REAL14
	728	+	AND PERSONAL PROPERTY THAT IS CLASSIFIED AS LODGING PROPERTY IS15
	729	+	TEMPORARILY REDUCED TO TWENTY -SEVEN AND SIXTY -FIVE16
	730	+	ONE-HUNDREDTHS PERCENT OF THE ACTUAL VALUE THEREOF .17
	731	+	(IV)
	732	+	FOR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,18
	733	+	2029,
	734	+	AND JANUARY 1, 2030, THE VALUATION FOR ASSESSMENT OF REAL19
	735	+	AND PERSONAL PROPERTY THAT IS CLASSIFIED AS LODGING PROPERTY IS20
	736	+	TEMPORARILY REDUCED TO TWENTY -SIX AND NINE-TENTHS PERCENT OF21
	737	+	THE ACTUAL VALUE THEREOF .22
	738	+	(V) F
	739	+	OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,23
	740	+	2031,
	741	+	AND JANUARY 1, 2032, THE VALUATION FOR ASSESSMENT OF REAL24
	742	+	AND PERSONAL PROPERTY THAT IS CLASSIFIED AS LODGING PROPERTY IS25
	743	+	TEMPORARILY REDUCED TO :26
	744	+	(A) T
	745	+	WENTY-FIVE AND NINE-TENTHS PERCENT OF THE ACTUAL27
	746	+	303
	747	+	-20- VALUE THEREOF, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON1
	748	+	J
	749	+	ANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR2
	750	+	ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY -TWO3
	751	+	COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS4
	752	+	GREATER THAN OR EQUAL TO THREE AND SEVEN -TENTHS PERCENT FROM5
	753	+	THE PRIOR PROPERTY TAX YEAR; OR6
	754	+	(B) T
	755	+	WENTY-SIX AND NINE-TENTHS PERCENT OF THE ACTUAL7
	756	+	VALUE THEREOF, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON8
	757	+	J
	758	+	ANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR9
	759	+	ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY -TWO10
	760	+	COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS LESS11
	761	+	THAN THREE AND SEVEN-TENTHS PERCENT FROM THE PRIOR PROPERTY TAX12
	762	+	YEAR.13
	763	+	(c) This subsection (1) only applies to nonresidential property that
	764	+	14
	765	+	is classified as lodging property.15
	766	+	(1.6) (c) Real and personal agricultural property is a subclass of16
	767	+	nonresidential property for purposes of the valuation for assessment.17
	768	+	R
	769	+	EAL PROPERTY THAT IS CLASSIFIED AS AGRICULTURAL LAND THAT18
	770	+	CONTAINS A RENEWABLE ENERGY FACILITY , AS DESCRIBED IN SECTION19
	771	+	39-4-102
	772	+	(1.5), IF THE LAND WAS CLASSIFIED BY THE ASSESSOR AS20
	773	+	AGRICULTURAL LAND AT THE TIME THE FACILITY WAS CONSTRUCTED21
	774	+	UNDER SECTION 39-1-102 (1.6)(a), IS CLASSIFIED AS RENEWABLE ENERGY22
	775	+	AGRICULTURAL
	776	+	LAND, WHICH IS A SUBCLASS OF AGRICULTURAL PROPERTY23
	777	+	FOR PURPOSES OF THE VALUATION FOR ASSESSMENT . THIS CLASSIFICATION24
	778	+	APPLIES FOR A PROPERTY TAX YEAR THAT THE REAL PROPERTY IS STILL25
	779	+	USED FOR AGRICULTURAL PURPOSES AND TO THE PORTION OF THE LAND26
	780	+	THAT IS ATTRIBUTABLE TO OR USED IN CONJUNCTION WITH THE27
	781	+	303
	782	+	-21- RENEWABLE ENERGY FACILITY .1
	783	+	(1.8) (a) The valuation for assessment of real and personal2
	784	+	property that is classified as agricultural property or renewable energy3
	785	+	production property is twenty-nine percent of the actual value thereof;4
	786	+	except that
	787	+	THE VALUATION FOR ASSESSMENT OF THIS PROPERTY IS5
	788	+	TEMPORARILY REDUCED AS FOLLOWS :6
	789	+	(I) For
	790	+	THE property tax years
	791	+	commencing on January 1, 2022,7
	792	+	AND January 1, 2023, and January 1, 2024, the valuation for assessment8
	793	+	of this property is temporarily reduced to twenty-six and four-tenths9
	794	+	percent of the actual value thereof;10
	795	+	(II) F
	796	+	OR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER11
	797	+	J
	798	+	ANUARY 1, 2024,
	799	+	BUT BEFORE JANUARY 1, 2031, THE VALUATION FOR12
	800	+	ASSESSMENT OF THIS PROPERTY , EXCLUDING RENEWABLE ENERGY13
	801	+	AGRICULTURAL LAND, IS TWENTY-SIX AND FOUR-TENTHS PERCENT OF THE14
	802	+	ACTUAL VALUE THEREOF;15
	803	+	(III) F
	804	+	OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,16
	805	+	2031,
	806	+	AND JANUARY 1, 2032, THE VALUATION FOR ASSESSMENT OF THIS17
	807	+	PROPERTY, EXCLUDING RENEWABLE ENERGY AGRICULTURAL LAND , IS:18
	808	+	(A)
	809	+	TWENTY-FIVE AND NINE-TENTHS PERCENT OF THE ACTUAL19
	810	+	VALUE THEREOF, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON20
	811	+	J
	812	+	ANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR21
	813	+	ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY -TWO22
	814	+	COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS23
	815	+	GREATER THAN OR EQUAL TO THREE AND SEVEN -TENTHS PERCENT FROM24
	816	+	THE PRIOR PROPERTY TAX YEAR; OR25
	817	+	(B)
	818	+	TWENTY-SIX AND FOUR-TENTHS PERCENT OF THE ACTUAL26
	819	+	VALUE THEREOF, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON27
	820	+	303
	821	+	-22- JANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR1
	822	+	ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY -TWO2
	823	+	COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS LESS3
	824	+	THAN THREE AND SEVEN-TENTHS PERCENT FROM THE PRIOR PROPERTY TAX4
	825	+	YEAR; AND5
618	826		(IV) F
619		-	OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
620		-	2029,
621		-	AND JANUARY 1, 2030, THE VALUATION FOR ASSESSMENT OF REAL
622		-	AND PERSONAL PROPERTY THAT IS CLASSIFIED AS LODGING PROPERTY IS
623		-	TEMPORARILY REDUCED TO TWENTY
624		-	-SIX AND NINE-TENTHS PERCENT OF THE
625		-	ACTUAL VALUE THEREOF
626		-	.
627		-	(V) F
628		-	OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
629		-	2031,
630		-	AND JANUARY 1, 2032, THE VALUATION FOR ASSESSMENT OF REAL
631		-	AND PERSONAL PROPERTY THAT IS CLASSIFIED AS LODGING PROPERTY IS
632		-	TEMPORARILY REDUCED TO
633		-	:
634		-	(A) T
635		-	WENTY-FIVE AND NINE-TENTHS PERCENT OF THE ACTUAL
636		-	VALUE THEREOF
637		-	, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON
638		-	JANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR
639		-	ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY
640		-	-TWO
641		-	COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS GREATER
642		-	PAGE 13-SENATE BILL 23-303 THAN OR EQUAL TO THREE AND SEVEN -TENTHS PERCENT FROM THE PRIOR
643		-	PROPERTY TAX YEAR
644		-	; OR
645		-	(B) TWENTY-SIX AND NINE-TENTHS PERCENT OF THE ACTUAL VALUE
646		-	THEREOF
647		-	, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
648		-	2031,
649		-	THE AVERAGE INCREASE IN TOTAL VALUATION FOR ASSESSMENT OF
650		-	TAXABLE REAL PROPERTY WITHIN THE THIRTY
651		-	-TWO COUNTIES WITH THE
652		-	SMALLEST INCREASES IN TOTAL VALUATION IS LESS THAN THREE AND
653		-	SEVEN
654		-	-TENTHS PERCENT FROM THE PRIOR PROPERTY TAX YEAR .
655		-	(c) This subsection (1) only applies to nonresidential property that
656		-	is classified as lodging property.
657		-	(1.6) (c) Real and personal agricultural property is a subclass of
658		-	nonresidential property for purposes of the valuation for assessment. R
659		-	EAL
660		-	PROPERTY THAT IS CLASSIFIED AS AGRICULTURAL LAND THAT CONTAINS A
661		-	RENEWABLE ENERGY FACILITY
662		-	, AS DESCRIBED IN SECTION 39-4-102 (1.5), IF
663		-	THE LAND WAS CLASSIFIED BY THE ASSESSOR AS AGRICULTURAL LAND AT
664		-	THE TIME THE FACILITY WAS CONSTRUCTED UNDER SECTION
665		-	39-1-102
666		-	(1.6)(a),
667		-	IS CLASSIFIED AS RENEWABLE ENERGY AGRICULTURAL LAND , WHICH
668		-	IS A SUBCLASS OF AGRICULTURAL PROPERTY FOR PURPOSES OF THE
669		-	VALUATION FOR ASSESSMENT
670		-	. THIS CLASSIFICATION APPLIES FOR A
671		-	PROPERTY TAX YEAR THAT THE REAL PROPERTY IS STILL USED FOR
672		-	AGRICULTURAL PURPOSES AND TO THE PORTION OF THE L AND THAT IS
673		-	ATTRIBUTABLE TO OR USED IN CONJUNCTION WITH THE RENEWABLE ENERGY
674		-	FACILITY
675		-	.
676		-	(1.8) (a) The valuation for assessment of real and personal property
677		-	that is classified as agricultural property or renewable energy production
678		-	property is twenty-nine percent of the actual value thereof; except that
679		-	THE
680		-	VALUATION FOR ASSESSMENT OF THIS PROPERTY IS TEMPORARILY REDUCED
681		-	AS FOLLOWS
682		-	:
683		-	(I) For
684		-	THE property tax years commencing on January 1, 2022, AND
685		-	January 1, 2023, and January 1, 2024,
686		-	the valuation for assessment of this
687		-	property is temporarily reduced to twenty-six and four-tenths percent of the
688		-	actual value thereof;
689		-	(II) F
690		-	OR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER
691		-	JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2031, THE VALUATION FOR
692		-	PAGE 14-SENATE BILL 23-303 ASSESSMENT OF THIS PROPERTY , EXCLUDING RENEWABLE ENERGY
693		-	AGRICULTURAL LAND
694		-	, IS TWENTY-SIX AND FOUR-TENTHS PERCENT OF THE
695		-	ACTUAL VALUE THEREOF
696		-	;
697		-	(III) F
698		-	OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
699		-	2031,
700		-	AND JANUARY 1, 2032, THE VALUATION FOR ASSESSMENT OF THIS
701		-	PROPERTY
702		-	, EXCLUDING RENEWABLE ENERGY AGRICULTURAL LAND , IS:
703		-	(A) T
704		-	WENTY-FIVE AND NINE-TENTHS PERCENT OF THE ACTUAL
705		-	VALUE THEREOF
706		-	, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON
707		-	JANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR
708		-	ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY
709		-	-TWO
710		-	COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS GREATER
711		-	THAN OR EQUAL TO THREE AND SEVEN
712		-	-TENTHS PERCENT FROM THE PRIOR
713		-	PROPERTY TAX YEAR
714		-	; OR
715		-	(B) TWENTY-SIX AND FOUR-TENTHS PERCENT OF THE ACTUAL VALUE
716		-	THEREOF
717		-	, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
718		-	2031,
719		-	THE AVERAGE INCREASE IN TOTAL VALUATION FOR ASSESSMENT OF
720		-	TAXABLE REAL PROPERTY WITHIN THE THIRTY
721		-	-TWO COUNTIES WITH THE
722		-	SMALLEST INCREASES IN TOTAL VALUATION IS LESS THAN THREE AND
723		-	SEVEN
724		-	-TENTHS PERCENT FROM THE PRIOR PROPERTY TAX YEAR ; AND
725		-	(IV) FOR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER
726		-	JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2033, THE VALUATION FOR
727		-	ASSESSMENT OF RENEWABLE ENERGY AGRICULTURAL LAND IS TWENTY
728		-	-ONE
729		-	AND NINE
730		-	-TENTHS PERCENT OF THE ACTUAL VALUE THEREOF .
731		-	(b) The valuation for assessment of all nonresidential property that
732		-	is not specified in subsection (1) or (1.8)(a) of this section is twenty-nine
733		-	percent of the actual value thereof; except that for the property tax year
734		-	commencing on January 1, 2023, the valuation for assessment of this
735		-	property is temporarily reduced to:
	827	+	OR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER6
	828	+	J
	829	+	ANUARY 1, 2024,
	830	+	BUT BEFORE JANUARY 1, 2033, THE VALUATION FOR7
	831	+	ASSESSMENT OF RENEWABLE ENERGY AGRICULTURAL LAND IS8
	832	+	TWENTY-ONE AND NINE-TENTHS PERCENT OF THE ACTUAL VALUE9
	833	+	THEREOF.10
	834	+	(b) The valuation for assessment of all nonresidential property that11
	835	+	is not specified in subsection (1) or (1.8)(a) of this section is twenty-nine12
	836	+	percent of the actual value thereof; except that for the property tax year13
	837	+	commencing on January 1, 2023, the valuation for assessment of this14
	838	+	property is temporarily reduced to:15
736	839		(I) F
737		-	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
738		-	2023, for all of the property listed by the assessor under any ~~improved~~
	840	+	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,16
	841	+	2023, for all of the property listed by the assessor under any improved17
739	842		commercial subclass codes, twenty-seven and nine-tenths
740		-	EIGHTY-FIVE
741		-	ONE
742		-	-HUNDREDTHS percent of an amount equal to the actual value minus the
743		-	lesser of thirty thousand dollars or the amount that reduces
744		-	CAUSES the
	843	+	EIGHTY-FIVE18
	844	+	ONE-HUNDREDTHS percent of an amount equal to the actual value minus19
	845	+	the lesser of thirty thousand dollars or the amount that reduces CAUSES the20
745	846		valuation for assessment to
746	847		BE one thousand dollars; and
747		-	PAGE 15-SENATE BILL 23-303 (II) FOR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
	848	+	21
	849	+	(II) F
	850	+	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,22
748	851		2023,
749	852		twenty-seven and nine-tenths
750		-	EIGHTY-FIVE ONE-~~HUNDREDTHS percent~~
751		-	of the actual value of all other nonresidential property that is ~~not specified~~
752		-	in subsections
753		-	~~SUBSECTION (1), (1.8)(a), and OR (1.8)(b)(I) of~~ this section;
	853	+	EIGHTY-FIVE ONE-HUNDREDTHS23
	854	+	percent of the actual value of all other nonresidential property that is not24
	855	+	specified in subsections SUBSECTION (1), (1.8)(a), and OR (1.8)(b)(I) of25
	856	+	this section;26
754	857		(III) F
755		-	OR THE PROPERTY TAX YEARS COMMENCING ON AND ~~AFTER~~
756		-	~~JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2027, TWENTY-SEVEN AND~~
757		-	~~EIGHTY~~
758		-	-FIVE ONE-HUNDREDTHS PERCENT OF THE ACTUAL VALUE OF ~~ALL~~
759		-	OTHER NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED IN ~~SUBSECTION~~
760		-	(1) ~~OR (1.8)(a) OF THIS SECTION OR THAT IS NOT UNDER A VACANT LAND~~
761		-	~~SUBCLASS~~
762		-	;
	858	+	OR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER27
	859	+	303
	860	+	-23- JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2027, TWENTY-SEVEN AND1
	861	+	EIGHTY-FIVE ONE-HUNDREDTHS PERCENT OF THE ACTUAL VALUE OF ALL2
	862	+	OTHER NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED IN SUBSECTION3
	863	+	(1)
	864	+	OR (1.8)(a) OF THIS SECTION OR THAT IS NOT UNDER A VACANT LAND4
	865	+	SUBCLASS;5
763	866		(IV) F
764		-	OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
	867	+	OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,6
765	868		2027,
766		-	AND JANUARY 1, 2028, TWENTY-SEVEN AND SIXTY -~~FIVE~~
767		-	ONE
768		-	~~-HUNDREDTHS PERCENT OF THE ACTUAL VALUE OF ALL OTHER~~
769		-	~~NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED IN SUBSECTION~~
770		-	~~(1)~~ OR
771		-	~~(1.8)(a) OF THIS SECTION OR THAT IS NOT UNDER A VACANT LAND~~ SUBCLASS ;
	869	+	AND JANUARY 1, 2028, TWENTY-SEVEN AND SIXTY -FIVE7
	870	+	ONE-HUNDREDTHS PERCENT OF THE ACTUAL VALUE OF ALL OTHER8
	871	+	NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED IN SUBSECTION (1) OR9
	872	+	(1.8)(a)
	873	+	OF THIS SECTION OR THAT IS NOT UNDER A VACANT LAND10
	874	+	SUBCLASS;11
772	875		(V) F
773		-	OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
	876	+	OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,12
774	877		2029,
775		-	AND JANUARY 1, 2030, TWENTY-SIX AND NINE-TENTHS PERCENT OF
776		-	THE ACTUAL VALUE OF ALL OTHER NONRESIDENTIAL PROPERTY THAT IS NOT
777		-	SPECIFIED IN SUBSECTION
778		-	(1) OR (1.8)(a) OF THIS SECTION OR THAT IS NOT
779		-	UNDER A VACANT LAND SUBCLASS
780		-	; AND
781		-	(VI) FOR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
	878	+	AND JANUARY 1, 2030, TWENTY-SIX AND NINE-TENTHS PERCENT OF13
	879	+	THE ACTUAL VALUE OF ALL OTHER NONRESIDENTIAL PROPERTY THAT IS14
	880	+	NOT SPECIFIED IN SUBSECTION (1) OR (1.8)(a) OF THIS SECTION OR THAT IS15
	881	+	NOT UNDER A VACANT LAND SUBCLASS ; AND16
	882	+	(VI) F
	883	+	OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,17
782	884		2031,
783		-	AND JANUARY 1, 2032:
	885	+	AND JANUARY 1, 2032:18
784	886		(A) T
785		-	WENTY-FIVE AND NINE-TENTHS PERCENT OF THE ACTUAL
786		-	VALUE OF ALL OTHER NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED IN
787		-	SUBSECTION
788		-	(1) OR (1.8)(a) OF THIS SECTION OR THAT IS NOT UNDER A
789		-	VACANT LAND SUBCLASS
790		-	, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON
791		-	JANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR
792		-	ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY
793		-	-TWO
794		-	COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS GREATER
795		-	THAN OR EQUAL TO THREE AND SEVEN
796		-	-TENTHS PERCENT FROM THE PRIOR
797		-	PROPERTY TAX YEAR
798		-	; OR
799		-	(B) TWENTY-SIX AND NINE-TENTHS PERCENT OF THE ACTUAL VALUE
800		-	OF ALL OTHER NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED IN
801		-	SUBSECTION
802		-	(1) OR (1.8)(a) OF THIS SECTION OR THAT IS NOT UNDER A
803		-	PAGE 16-SENATE BILL 23-303 VACANT LAND SUBCLASS, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON
804		-	JANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR
805		-	ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY
806		-	-TWO
807		-	COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS LESS
808		-	THAN THREE AND SEVEN
809		-	-TENTHS PERCENT FROM THE PRIOR PROPERTY TAX
810		-	YEAR
811		-	.
	887	+	WENTY-FIVE AND NINE-TENTHS PERCENT OF THE ACTUAL19
	888	+	VALUE OF ALL OTHER NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED20
	889	+	IN SUBSECTION (1) OR (1.8)(a) OF THIS SECTION OR THAT IS NOT UNDER A21
	890	+	VACANT LAND SUBCLASS, IF, FOR THE PROPERTY TAX YEAR COMMENCING22
	891	+	ON JANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR23
	892	+	ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY -TWO24
	893	+	COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS25
	894	+	GREATER THAN OR EQUAL TO THREE AND SEVEN -TENTHS PERCENT FROM26
	895	+	THE PRIOR PROPERTY TAX YEAR; OR27
	896	+	303
	897	+	-24- (B) TWENTY-SIX AND NINE-TENTHS PERCENT OF THE ACTUAL1
	898	+	VALUE OF ALL OTHER NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED2
	899	+	IN SUBSECTION (1) OR (1.8)(a) OF THIS SECTION OR THAT IS NOT UNDER A3
	900	+	VACANT LAND SUBCLASS, IF, FOR THE PROPERTY TAX YEAR COMMENCING4
	901	+	ON JANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR5
	902	+	ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY -TWO6
	903	+	COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS LESS7
	904	+	THAN THREE AND SEVEN-TENTHS PERCENT FROM THE PRIOR PROPERTY TAX8
	905	+	YEAR.9
812	906		(b.5) (I) F
813		-	OR PURPOSES OF SUBSECTIONS (1)(b)(V), (1.8)(a)(III), AND
814		-	(1.8)(b)(VI) OF THIS SECTION, THE TOTAL VALUATION FOR ASSESSMENT OF
815		-	TAXABLE REAL PROPERTY FOR ASSESSMENT EXCLUDES THE VALUATION FOR
816		-	ASSESSMENT FROM PRODUCING MINES AND LANDS OR LEASEHOLDS
817		-	PRODUCING OIL OR GAS
818		-	.
	907	+	OR PURPOSES OF SUBSECTIONS (1)(b)(V), (1.8)(a)(III),10
	908	+	AND (1.8)(b)(VI) OF THIS SECTION, THE TOTAL VALUATION FOR11
	909	+	ASSESSMENT OF TAXABLE REAL PROPERTY FOR ASSESSMENT EXCLUDES12
	910	+	THE VALUATION FOR ASSESSMENT FROM PRODUCING MINES AND L ANDS OR13
	911	+	LEASEHOLDS PRODUCING OIL OR GAS .14
819	912		(II) T
820		-	HE ADMINISTRATOR SHALL CALCULATE THE AVERAGE INCREASE
821		-	IN TOTAL VALUATION FOR ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN
822		-	THE THIRTY
823		-	-TWO COUNTIES WITH THE SMALLEST INCREASES IN TOTAL
824		-	VALUATION FOR PURPOSES OF SUBSECTIONS
825		-	(1)(b)(V), (1.8)(a)(III), AND
826		-	(1.8)(b)(VI) OF THIS SECTION BASED ON INFORMATION PROVIDED BY
827		-	COUNTY ASSESSORS IN ACCOR DANCE WITH SUBSECTION
828		-	(1.8)(b.5)(III) OF
829		-	THIS SECTION AND THE ABSTRACT OF ASSESSMENT FOR THE PROPERTY TAX
830		-	YEAR COMMENCING ON
831		-	JANUARY 1, 2030.
	913	+	HE ADMINISTRATOR SHALL CALCULATE THE AVERAGE15
	914	+	INCREASE IN TOTAL VALUATION FOR ASSESSMENT OF TAXABLE REAL16
	915	+	PROPERTY WITHIN THE THIRTY -TWO COUNTIES WITH THE SMALLEST17
	916	+	INCREASES
	917	+	IN TOTAL VALUATION FOR PURPOSES OF SUBSECTIONS18
	918	+	(1)(b)(V), (1.8)(a)(III),
	919	+	AND (1.8)(b)(VI) OF THIS SECTION BASED ON19
	920	+	INFORMATION PROVIDED BY COUNTY ASSESSORS IN ACCORDANCE WITH20
	921	+	SUBSECTION (1.8)(b.5)(III) OF THIS SECTION AND THE ABSTRACT OF21
	922	+	ASSESSMENT FOR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,22
	923	+	2030.23
832	924		(III) N
833		-	O LATER THAN MAY 5, 2031, EACH ASSESSOR SHALL PROVIDE
834		-	THE ADMINISTRATOR WITH AN ESTIMATE OF THE TOTAL VALUATION FOR
835		-	ASSESSMENT OF TAXABLE REAL PROPERTY LOCATED WITHIN THE COUNTY
836		-	BASED ON THE NOTICES OF VALUATION FOR THE PROPERTY TAX YEAR
837		-	.
	925	+	O LATER THAN MAY 5, 2031, EACH ASSESSOR SHALL24
	926	+	PROVIDE THE ADMINISTRATOR WITH AN ESTIMATE OF THE TOTAL25
	927	+	VALUATION FOR ASSESSMENT OF TAXABLE REAL PROPERTY LOCATED26
	928	+	WITHIN THE COUNTY BASED ON THE NOTICES OF VALUATION FOR THE27
	929	+	303
	930	+	-25- PROPERTY TAX YEAR.1
838	931		(IV) O
839		-	N OR BEFORE JULY 1, 2031, THE ADMINISTRATOR SHALL
840		-	PUBLISH ON THE WEBSITE MAINTAINED BY THE DIVISION OF PROPERTY
841		-	TAXATION IN THE DEPARTMENT OF LOCAL AFFAIRS WHETHER THE RATES SET
842		-	FORTH IN SUBSECTIONS
843		-	(1)(b)(V)(A), (1.8)(a)(III)(A), AND (1.8)(b)(VI)(A)
844		-	OF THIS SECTION APPLY OR WHETHER THE RATES SET FORTH IN SUBSECTIONS
845		-	(1)(b)(V)(B), (1.8)(a)(III)(B), AND (1.8)(b)(VI)(B) OF THIS SECTION APPLY
	932	+	N OR BEFORE JULY 1, 2031, THE ADMINISTRATOR SHALL2
	933	+	PUBLISH ON THE WEBSITE MAINTAINED BY THE DIVISION OF PROPERTY3
	934	+	TAXATION IN THE DEPARTMENT OF LOCAL AFFAIRS WHETHER THE RATES4
	935	+	SET FORTH IN SUBSECTIONS (1)(b)(V)(A), (1.8)(a)(III)(A), AND5
	936	+	(1.8)(b)(VI)(A)
	937	+	OF THIS SECTION
	938	+	APPLY OR WHETHER THE RATES SET6
	939	+	FORTH IN SUBSECTIONS (1)(b)(V)(B), (1.8)(a)(III)(B), AND (1.8)(b)(VI)(B)7
	940	+	OF THIS SECTION APPLY FOR PROPERTY TAX YEARS COMMENCING ON8
	941	+	J
	942	+	ANUARY 1, 2031, AND JANUARY 1, 2032.9
	943	+	(c) The actual value of real and personal property specified in10
	944	+	subsection (1.8)(a) or (1.8)(b)
	945	+	SUBSECTION (1), (1.8)(a), OR (1.8)(b) of this11
	946	+	section is determined by the assessor and the administrator in the manner12
	947	+	prescribed by law, and a valuation for assessment percentage is uniformly13
	948	+	applied, without exception, to the actual value,
	949	+	AS so determined OR AS SO14
	950	+	DETERMINED AND THEN REDUCED , of the various classes and subclasses15
	951	+	of real and personal property located within the territorial limits of the16
	952	+	authority levying a property tax, and all property taxes are levied against17
	953	+	the aggregate valuation for assessment resulting from the application of18
	954	+	the percentage.19
	955	+	(d) As used in this section, unless the context otherwise requires,20
	956	+	"nonresidential property" means all taxable real and personal property in21
	957	+	the state other than residential real property, producing mines, or lands or22
	958	+	leaseholds producing oil or gas. Nonresidential property includes the23
	959	+	subclasses of agricultural property,
	960	+	lodging property, and renewable24
	961	+	energy production property, for purposes of the ratio of
	962	+	valuation for25
	963	+	assessment.26
	964	+	(1.9) (a) T
	965	+	HE TEMPORARY REDUCTIONS IN THE VALUATIONS FOR27
	966	+	303
	967	+	-26- ASSESSMENT SET FORTH IN SUBSECTIONS (1)(b) AND (1.8) OF THIS SECTION1
	968	+	MADE IN THIS SENATE BILL 23-____ ARE CONTINGENT ON THE STATE 'S2
	969	+	AUTHORITY TO RETAIN AND SPEND STATE SURPLUS UP TO THE PROPOSITION3
	970	+	HH
	971	+	CAP UNDER PART 2 OF ARTICLE 77 OF TITLE 24. NOTWITHSTANDING4
	972	+	ANY PROVISION OF SUBSECTIONS (1)(b) AND (1.8) OF THIS SECTION TO THE5
	973	+	CONTRARY, IF, FOR A FISCAL YEAR COMMENCING ON OR AFTER JULY 1,6
	974	+	2023,
	975	+	THE STATE IS NOT PERMITTED TO RETAIN AND SPEND STATE SURPLUS7
	976	+	UP TO THE PROPOSITION HH CAP FOR THE FISCAL YEAR FOR ANY REASON,8
	977	+	EXCLUDING A LEGISLATIVE ENACTMENT BY THE GENERAL ASSEMBLY ,9
	978	+	THEN FOR THE PROPERTY TAX YEAR THAT BEGINS DURING THE FISCAL10
	979	+	YEAR AND ALL PROPERTY TAX YEARS THEREAFTER , THE TEMPORARY11
	980	+	REDUCTIONS IN THE VALUATION FOR ASSESSMENT SET FORTH IN12
	981	+	SUBSECTIONS (1)(b) AND (1.8) OF THIS SECTION MADE IN THIS SENATE13
	982	+	B
	983	+	ILL 23-____ DO NOT APPLY.14
	984	+	(b) T
	985	+	HE STATE CONTROLLER SHALL NOTIFY THE ADMINISTRATOR15
	986	+	IF SUBSECTION (1.9)(a) OF THIS SECTION APPLIES , AND THE16
	987	+	ADMINISTRATOR SHALL PUBLISH NOTICE ON THE WEBSITE MAINTAINED BY17
	988	+	THE DIVISION OF PROPERTY TAXATION IN THE DEPARTMENT OF LOCAL18
	989	+	AFFAIRS THAT THE APPLICABLE TEMPORARY REDUCTIONS SET FORTH IN19
	990	+	SUBSECTIONS (1)(b) AND (1.8) OF THIS SECTION MADE IN THIS SENATE20
	991	+	B
	992	+	ILL 23-____ DO NOT APPLY.21
	993	+	SECTION 9. In Colorado Revised Statutes, 39-1-104.2, amend22
	994	+	(3)(q) and (3)(r); and add (1)(a.3), (1)(a.7),
	995	+	(3.5), and (3.7) as follows:23
	996	+	39-1-104.2. Residential real property - valuation for24
	997	+	assessment - legislative declaration - definitions. (1) As used in this25
	998	+	section, unless the context otherwise requires:26
	999	+	(a.3) "P
	1000	+	RIMARY RESIDENCE REAL PROPERTY " MEANS PROPERTY27
	1001	+	303
	1002	+	-27- THAT IS CLASSIFIED AS SUCH UNDER SECTION 39-1-104.6.1
	1003	+	(a.7) "Q
	1004	+	UALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY "2
	1005	+	MEANS PROPERTY THAT IS CLASSIFIED AS SUCH UNDER SECTION 39-1-104.73
	1006	+	(2).4
	1007	+	(3) (q) The ratio of
	1008	+	valuation for assessment for multi-family5
	1009	+	residential real property is 7.15 percent of
	1010	+	THE actual value THEREOF for6
	1011	+	property tax years commencing on or after January 1, 2019; except that7
	1012	+	THE VALUATION FOR ASSESSMENT IS TEMPORARILY REDUCED AS FOLLOWS :8
	1013	+	(I) For the property tax years
	1014	+	YEAR commencing on January 1,9
	1015	+	2022, and January 1, 2024, the ratio of valuation for assessment for10
	1016	+	multi-family residential real property is temporarily reduced to 6.811
	1017	+	percent of
	1018	+	THE actual value THEREOF;
	1019	+	12
	1020	+	(II) For the property tax year commencing on January 1, 2023, the13
	1021	+	ratio of valuation for assessment for multi-family residential real property14
	1022	+	is temporarily reduced to 6.765 percent 6.7 PERCENT of THE AMOUNT15
	1023	+	EQUAL TO THE actual value OF THE PROPERTY MINUS THE LESSER OF FIFTY16
	1024	+	THOUSAND DOLLARS OR THE AMOUNT THAT CAUSES THE VALUATION FOR17
	1025	+	ASSESSMENT OF THE PROPERTY TO BE ONE THOUSAND DOLLARS; AND18
	1026	+	(III) FOR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER19
	1027	+	JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2033, THE VALUATION FOR20
	1028	+	ASSESSMENT FOR MULTI-FAMILY RESIDENTIAL REAL PROPERTY IS 6.721
	1029	+	PERCENT OF THE AMOUNT EQUAL TO THE ACTUAL VALUE OF THE PROPERTY22
	1030	+	MINUS THE LESSER OF FORTY THOUSAND DOLLARS OR THE AMOUNT THAT23
	1031	+	CAUSES THE VALUATION FOR ASSESSMENT OF THE PROPERTY TO BE ONE24
	1032	+	THOUSAND DOLLARS.25
	1033	+	(r) The ratio of valuation for assessment for all residential real26
	1034	+	property other than multi-family residential real property is 7.15 percent27
	1035	+	303
	1036	+	-28- of THE actual value THEREOF; except that THE VALUATION FOR1
	1037	+	ASSESSMENT IS TEMPORARILY REDUCED AS FOLLOWS :2
	1038	+	(I) For the property tax year commencing on January 1, 2022, the3
	1039	+	ratio of valuation for assessment for all residential real property other4
	1040	+	than multi-family residential real property is temporarily reduced to 6.955
	1041	+	percent of
	1042	+	THE actual value THEREOF;6
	1043	+	(II) For the property tax year commencing on January 1, 2023, the7
	1044	+	ratio of
	1045	+	valuation for assessment for all residential real property other8
	1046	+	than multi-family residential real property is 6.765 percent 6.7 PERCENT9
	1047	+	of
	1048	+	THE AMOUNT EQUAL TO THE actual value and
	1049	+	OF THE PROPERTY MINUS10
	1050	+	THE LESSER OF FIFTY THOUSAND DOLLARS OR THE AMOUNT THAT CAUSES11
	1051	+	THE VALUATION FOR ASSESSMENT OF THE PROPERTY TO BE ONE THOUSAND12
	1052	+	DOLLARS;13
	1053	+	(III) For the property tax year commencing on January 1, 2024,14
	1054	+	the ratio of valuation for assessment for all residential real property other15
	1055	+	than multi-family residential real property is temporarily established as16
	1056	+	the percentage calculated in accordance with section 39-1-104.4 6.717
	1057	+	PERCENT OF THE AMOUNT EQUAL TO THE ACTUAL VALUE OF THE PROPERTY18
	1058	+	MINUS THE LESSER OF FORTY THOUSAND DOLLARS OR THE AMOUNT THAT19
	1059	+	CAUSES THE VALUATION FOR ASSESSMENT OF THE PROPERTY TO BE ONE20
	1060	+	THOUSAND DOLLARS; AND21
	1061	+	(IV) F
	1062	+	OR PROPERTY TAX YEARS COMMENCING ON
	1063	+	AND AFTER22
	1064	+	J
	1065	+	ANUARY 1, 2025, BUT BEFORE JANUARY 1, 2033:23
	1066	+	(A)
	1067	+	THE VALUATION FOR ASSESSMENT FOR PRIMARY RESIDENCE24
	1068	+	REAL PROPERTY, INCLUDING MULTI-FAMILY PRIMARY RESIDENCE REAL25
	1069	+	PROPERTY, IS 6.7 PERCENT OF THE AMOUNT EQUAL TO THE ACTUAL VALUE26
	1070	+	OF THE PROPERTY MINUS THE LESSER OF FORTY THOUSAND DOLLARS OR27
	1071	+	303
	1072	+	-29- THE AMOUNT THAT CAUSES THE VALUATION FOR ASSESSMENT OF THE1
	1073	+	PROPERTY TO BE ONE THOUSAND DOLLARS ;2
	1074	+	(B) T
	1075	+	HE VALUATION FOR ASSESSMENT FOR QUALIFIED -SENIOR3
	1076	+	PRIMARY RESIDENCE REAL PROPERTY , INCLUDING MULTI -FAMILY4
	1077	+	QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY , IS 6.7 PERCENT5
	1078	+	OF THE AMOUNT EQUAL TO THE ACTUAL VALUE OF THE PROPERTY MINUS6
	1079	+	THE LESSER OF ONE HUNDRED FORTY THOUSAND DOLLARS OR THE7
	1080	+	AMOUNT THAT CAUSES THE VALUATION FOR ASSESSMENT OF THE8
	1081	+	PROPERTY TO BE ONE THOUSAND DOLLARS ; AND9
	1082	+	(C) T
	1083	+	HE VALUATION FOR ASSESSMENT FOR ALL RESIDENTIAL REAL10
	1084	+	PROPERTY THAT IS NOT SPECIFIED IN SUBSECTION
	1085	+	(3)(q)(III), (3)(r)(IV)(A),11
	1086	+	OR (3)(r)(IV)(B) OF THIS SECTION IS 6.7 PERCENT OF THE ACTUAL VALUE12
	1087	+	THEREOF.13
	1088	+	(3.5) (a) T
	1089	+	HE TEMPORARY REDUCTIONS IN THE VALUATIONS FOR14
	1090	+	ASSESSMENT SET FORTH IN SUBSECTION (3) OF THIS SECTION MADE IN THIS15
	1091	+	S
	1092	+	ENATE BILL 23-____ ARE CONTINGENT ON THE STATE'S AUTHORITY TO16
	1093	+	RETAIN AND SPEND STATE SURPLUS UP TO THE PROPOSITION HH CAP17
	1094	+	UNDER PART 2 OF ARTICLE 77 OF TITLE 24. NOTWITHSTANDING ANY18
	1095	+	PROVISION OF SUBSECTION (3) OF THIS SECTION TO THE CONTRARY, IF, FOR19
	1096	+	A FISCAL YEAR COMMENCING ON OR AFTER JULY 1, 2023, THE STATE IS20
	1097	+	NOT PERMITTED TO RETAIN AND SPEND STATE SURPLUS UP TO THE21
	1098	+	PROPOSITION HH CAP FOR THE FISCAL YEAR FOR ANY REASON, EXCLUDING22
	1099	+	A LEGISLATIVE ENACTMENT BY THE GENERAL ASSEMBLY , THEN FOR THE23
	1100	+	PROPERTY TAX YEAR THAT BEGINS DURING THE FISCAL YEAR AND ALL24
	1101	+	PROPERTY TAX YEARS THEREAFTER , THE TEMPORARY REDUCTIONS IN THE25
	1102	+	VALUATION FOR ASSESSMENT SET FORTH IN SUBSECTION (3) OF THIS26
	1103	+	SECTION MADE IN THIS SENATE BILL 23-____ DO NOT APPLY.27
	1104	+	303
	1105	+	-30- (b) THE STATE CONTROLLER SHALL NOTIFY THE ADMINISTRATOR1
	1106	+	IF SUBSECTION (3.5)(a) OF THIS SECTION APPLIES , AND THE2
	1107	+	ADMINISTRATOR SHALL PUBLISH NOTICE ON THE WEBSITE MAINTAINED BY3
	1108	+	THE DIVISION OF PROPERTY TAXATION IN THE DEPARTMENT OF LOCAL4
	1109	+	AFFAIRS THAT THE APPLICABLE TEMPORARY REDUCTIONS SET FORTH IN5
	1110	+	SUBSECTION (3) OF THIS SECTION MADE IN THIS SENATE BILL 23-____ DO6
	1111	+	NOT APPLY.7
	1112	+	(3.7) (a) THE ADMINISTRATOR SHALL CONVENE A WORKING GROUP8
	1113	+	WITH REPRESENTATIVES, INCLUDING ASSESSORS AND ELECTED COUNTY9
	1114	+	OFFICIALS FROM SMALL-, MEDIUM-, AND LARGE-SIZED COUNTIES AND A10
	1115	+	REPRESENTATIVE OF A STATEWIDE ORGANIZATION OF REAL ESTATE11
	1116	+	PROFESSIONALS, TO MAKE RECOMMENDATIONS ABOUT WAYS TO12
	1117	+	STREAMLINE AND IMPROVE THE DESIGNATION OF THE PRIMARY RESIDENCE13
	1118	+	REAL PROPERTY IN THE EVENT THAT VOTERS APPROVE THE BALLOT ISSUE14
	1119	+	REFERRED IN ACCORDANCE WITH SECTION 24-77-202. IN FORMULATING ITS15
	1120	+	RECOMMENDATIONS, THE WORKING GROUP SHALL CONSIDER INFORMATION16
	1121	+	TECHNOLOGY NEEDS AND ADMINISTRATIVE IMPACTS. ON OR BEFORE17
	1122	+	JANUARY 1, 2024, THE WORKING GROUP SHALL PROVIDE A REPORT OF ITS18
	1123	+	RECOMMENDATIONS TO THE SENATE LOCAL GOVERNMENT AND HOUSING19
	1124	+	COMMITTEE, AND THE HOUSE OF REPRESENTATIVES TRANSPORTATION,20
	1125	+	HOUSING, AND LOCAL GOVERNMENT COMMITTEE; EXCEPT THAT NO21
	1126	+	REPORT IS DUE IF THE BALLOT ISSUE DOES NOT PASS.22
	1127	+	(b) THIS SUBSECTION (3.7) IS REPEALED, EFFECTIVE JULY 1, 2024.23
	1128	+	SECTION 10. In Colorado Revised Statutes, repeal 39-1-104.324
	1129	+	and 39-1-104.4 as follows:25
	1130	+	39-1-104.3. Partial real property tax reductions - residential26
	1131	+	property - definitions - repeal. (1) As used in this section, unless the27
	1132	+	303
	1133	+	-31- context otherwise requires, "residential real property" means property1
	1134	+	listed by the assessor under any residential real property classification2
	1135	+	code.3
	1136	+	(2) For the property tax year commencing on January 1, 2023,the4
	1137	+	valuation for assessment for residential real property is six and seven5
	1138	+	hundred sixty-five thousandths percent, as set forth in section 39-1-104.26
	1139	+	(3)(q)(II) and (3)(r)(II), of the amount equal to the actual value,7
	1140	+	determined pursuant to section 39-1-103, minus the lesser of fifteen8
	1141	+	thousand dollars or the amount that reduces the valuation for assessment9
	1142	+	to one thousand dollars.10
	1143	+	(3) This adjustment does not apply to any other class of property.11
	1144	+	(4) This section is repealed, effective July 1, 2025.12
	1145	+	39-1-104.4. Adjustment of residential rate. (1) The ratio of13
	1146	+	valuation for assessment for residential real property other than14
	1147	+	multi-family residential real property for the property tax year15
	1148	+	commencing on January 1, 2024, is equal to the percentage necessary for16
	1149	+	the following to equal a total of seven hundred million dollars:17
	1150	+	(a) The aggregate reduction of local government property tax18
	1151	+	revenue during the property tax year commencing on January 1, 2023, as19
	1152	+	a result of the changes made in Senate Bill 22-238, enacted in 2022, that20
	1153	+	reduced valuations for assessment set forth pursuant to sections 39-1-10421
	1154	+	(1)(b) and (1.8)(b), 39-1-104.2 (3)(q)(II) and (3)(r)(II), and 39-3-104.322
	1155	+	(2); and23
	1156	+	(b) The aggregate reduction of local government property tax24
	1157	+	revenue during the property tax year commencing on January 1, 2024, as25
	1158	+	a result of the reduced valuations for assessment set forth pursuant to26
	1159	+	sections 39-1-104 (1.8)(a) and 39-1-104.2 (3)(q)(I) and (3)(r)(III) for the27
	1160	+	303
	1161	+	-32- property tax year commencing on January 1, 2024.1
	1162	+	(2) On or before March 21, 2024, based on the information2
	1163	+	available on that date, the property tax administrator shall submit a report3
	1164	+	to the general assembly calculating the ratio of valuation for assessment4
	1165	+	specified in subsection (1) of this section.5
	1166	+	SECTION 11. In Colorado Revised Statutes, add 39-1-104.6 and6
	1167	+	39-1-104.7 as follows:7
	1168	+	39-1-104.6. Primary residence real property. (1) Definitions.8
	1169	+	A
	1170	+	S USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE REQUIRES :9
	1171	+	(a) (I) "O
	1172	+	WNER-OCCUPIER" MEANS AN INDIVIDUAL WHO:10
	1173	+	(A) I
	1174	+	S AN OWNER OF RECORD OF RESIDENTIAL REAL PROPERTY11
	1175	+	THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL 'S PRIMARY12
	1176	+	RESIDENCE;13
	1177	+	(B) I
	1178	+	S NOT AN OWNER OF RECORD OF THE RESIDENTIAL REAL14
	1179	+	PROPERTY THAT THE INDIVIDUAL OCCUPIES AS THE INDIVI DUAL 'S PRIMARY15
	1180	+	RESIDENCE, BUT EITHER IS A SPOUSE OR CIVIL UNION PARTNER OF AN16
	1181	+	OWNER OF RECORD OF THE RESIDENTIAL REAL PROPERTY AND WHO ALSO17
	1182	+	OCCUPIES THE RESIDENTIAL REAL PROPERTY AS THE OWNER OF RECORD 'S18
	1183	+	PRIMARY RESIDENCE, OR IS THE SURVIVING SPOUSE OR PARTNER OF AN19
	1184	+	INDIVIDUAL WHO WAS AN OWNER OF RECORD OF THE RESIDENTIAL REAL20
	1185	+	PROPERTY AND WHO OCCUPIED THE RESIDENTIAL REAL PROPERTY WITH21
	1186	+	THE SURVIVING SPOUSE OR PARTNER AS THEIR PRIMARY RESIDENCE UNTIL22
	1187	+	THE OWNER OF RECORD'S DEATH; OR23
	1188	+	(C) I
	1189	+	S NOT AN OWNER OF RECORD OF THE RESIDENTIAL REAL24
	1190	+	PROPERTY THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL 'S PRIMARY25
	1191	+	RESIDENCE, ONLY BECAUSE THE PROPERTY HAS BEEN PURCHASED BY OR26
	1192	+	TRANSFERRED TO A TRUST, A CORPORATE PARTNERSHIP, OR ANY OTHER27
	1193	+	303
	1194	+	-33- LEGAL ENTITY SOLELY FOR ESTATE PLANNING PURPOSES AND IS THE1
	1195	+	MAKER OF THE TRUST OR A PRINCIPAL OF THE CORPORATE PARTNERSHIP OR2
	1196	+	OTHER LEGAL ENTITY;3
	1197	+	(D) O
	1198	+	CCUPIES RESIDENTIAL REAL PROPERTY AS THE INDIVIDUAL 'S4
	1199	+	PRIMARY RESIDENCE AND IS THE SPOUSE OR CIVIL UNION PARTNER OF A5
	1200	+	PERSON WHO ALSO OCCUPIES THE RESIDENTIAL REAL PROPERTY , WHO IS6
	1201	+	NOT THE OWNER OF RECORD OF THE PROPERTY ONLY BECAUSE THE7
	1202	+	PROPERTY HAS BEEN PURCHASED BY OR TRANSFERRED TO A TRUST , A8
	1203	+	CORPORATE PARTNERSHIP , OR ANY OTHER LEGAL ENTITY SOLELY FOR9
	1204	+	ESTATE PLANNING PURPOSES, AND WHO IS THE MAKER OF THE TRUST OR A10
	1205	+	PRINCIPAL OF THE CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY ; OR11
	1206	+	(E) O
	1207	+	CCUPIES RESIDENTIAL REAL PROPERTY AS THE INDIVIDUAL 'S12
	1208	+	PRIMARY RESIDENCE AND IS THE SURVIVING SPOUSE OR PARTNER OF A13
	1209	+	PERSON WHO OCCUPIED THE RESIDENTIAL REAL PROPERTY WITH THE14
	1210	+	SURVIVING SPOUSE OR PARTNER UNTIL THE PERSON 'S DEATH, WHO WAS15
	1211	+	NOT THE OWNER OF RECORD OF THE PROPERTY AT THE TIME OF THE16
	1212	+	PERSON'S DEATH ONLY BECAUSE THE PROPERTY HAD BEEN PURCHASED BY17
	1213	+	OR TRANSFERRED TO A TRUST, A CORPORATE PARTNERSHIP, OR ANY OTHER18
	1214	+	LEGAL ENTITY SOLELY FOR ESTATE PLANNING PURPOSES PRIOR TO THE19
	1215	+	PERSON'S DEATH, AND WHO WAS THE MAKER OF THE TRUST OR A PRINCIPAL20
	1216	+	OF THE CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY PRIOR TO THE21
	1217	+	PERSON'S DEATH.22
	1218	+	(II) "O
	1219	+	WNER-OCCUPIER" ALSO INCLUDES ANY INDIVIDUAL WHO ,23
	1220	+	BUT FOR THE CONFINEMENT OF THE INDIVIDUAL TO A HOSPITAL , NURSING24
	1221	+	HOME, OR ASSISTED LIVING FACILITY, WOULD OCCUPY THE RESIDENTIAL25
	1222	+	REAL PROPERTY AS THE INDIVIDUAL 'S PRIMARY RESIDENCE AND WOULD26
	1223	+	MEET ONE OR MORE OF THE OWNERSHIP CRITERIA SPECIFIED IN27
	1224	+	303
	1225	+	-34- SUBSECTION (1)(a)(I) OF THIS SECTION, IF THE RESIDENTIAL REAL1
	1226	+	PROPERTY:2
	1227	+	(A) I
	1228	+	S TEMPORARILY UNOCCUPIED ; OR3
	1229	+	(B) I
	1230	+	S OCCUPIED BY THE SPOUSE, CIVIL UNION PARTNER, OR A4
	1231	+	FINANCIAL DEPENDENT OF THE INDIVIDUAL .5
	1232	+	(b) "O
	1233	+	WNER OF RECORD" MEANS AN INDIVIDUAL WHOSE NAME6
	1234	+	APPEARS ON A VALID RECORDED DEED TO RESIDENTIAL REAL PROPERTY AS7
	1235	+	AN OWNER OF THE PROPERTY.8
	1236	+	(c) "Q
	1237	+	UALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY "9
	1238	+	MEANS A PROPERTY THAT IS CLASSIFIED AS SUCH UNDER SECTION10
	1239	+	39-1-104.7.11
	1240	+	(d) "S
	1241	+	URVIVING SPOUSE OR PARTNER" MEANS AN INDIVIDUAL WHO12
	1242	+	WAS LEGALLY MARRIED TO ANOTHER INDIVIDUAL , OR WAS A PARTNER IN13
	1243	+	A CIVIL UNION WITH ANOTHER INDIVIDUAL , AT THE TIME OF THE OTHER14
	1244	+	INDIVIDUAL'S DEATH AND WHO HAS NOT REMARRIED OR ENTERED INTO15
	1245	+	ANOTHER CIVIL UNION.16
	1246	+	(2) Classification. (a) E
	1247	+	XCEPT AS SET FORTH IN SECTION17
	1248	+	39-1-104.7,
846	1249		FOR PROPERTY TAX YEARS COMMENCING ON
847		-	JANUARY 1, 2031, AND
848		-	JANUARY 1, 2032.
849		-	(c) The actual value of real and personal property specified in
850		-	subsection (1.8)(a) or (1.8)(b)
851		-	SUBSECTION (1), (1.8)(a), OR (1.8)(b) of this
852		-	section is determined by the assessor and the administrator in the manner
853		-	prescribed by law, and a valuation for assessment percentage is uniformly
854		-	PAGE 17-SENATE BILL 23-303 applied, without exception, to the actual value, AS so determined OR AS SO
855		-	DETERMINED AND THEN REDUCED
856		-	, of the various classes and subclasses of
857		-	real and personal property located within the territorial limits of the
858		-	authority levying a property tax, and all property taxes are levied against the
859		-	aggregate valuation for assessment resulting from the application of the
860		-	percentage.
861		-	(d) As used in this section, unless the context otherwise requires,
862		-	"nonresidential property" means all taxable real and personal property in the
863		-	state other than residential real property, producing mines, or lands or
864		-	leaseholds producing oil or gas. Nonresidential property includes the
865		-	subclasses of agricultural property, lodging property, and renewable energy
866		-	production property, for purposes of the ratio of
867		-	valuation for assessment.
868		-	(1.9) (a) T
869		-	HE TEMPORARY REDUCTIONS IN THE VALUATIONS FOR
870		-	ASSESSMENT SET FORTH IN SUBSECTIONS
871		-	(1)(b) AND (1.8) OF THIS SECTION
872		-	MADE IN
873		-	SENATE BILL 23-303 ARE CONTINGENT ON THE STATE'S AUTHORITY
874		-	TO RETAIN AND SPEND STATE SURPLUS UP TO THE PROPOSITION
875		-	HH CAP
876		-	UNDER PART
877		-	2 OF ARTICLE 77 OF TITLE 24. NOTWITHSTANDING ANY
878		-	PROVISION OF SUBSECTIONS
879		-	(1)(b) AND (1.8) OF THIS SECTION TO THE
880		-	CONTRARY
881		-	, IF, FOR A FISCAL YEAR COMMENCING ON OR AFTER JULY 1, 2023,
882		-	THE STATE IS NOT PERMITTED TO RETAIN AND SPEND STATE SURPLUS UP TO
883		-	THE PROPOSITION
884		-	HH CAP FOR THE FISCAL YEAR FOR ANY REASON ,
885		-	EXCLUDING A LEGISLATIVE ENACTMENT BY THE GENERAL ASSEMBLY , THEN
886		-	FOR THE PROPERTY TAX YEAR THAT BEGINS DURING THE FISCAL YEAR AND
887		-	ALL PROPERTY TAX YEARS THEREAFTER
888		-	, THE TEMPORARY REDUCTIONS IN
889		-	THE VALUATION FOR ASSESSMENT SET FORTH IN SUBSECTIONS
890		-	(1)(b) AND
891		-	(1.8) OF THIS SECTION MADE IN SENATE BILL 23-303 DO NOT APPLY.
	1250	+	AND AFTER18
	1251	+	J
	1252	+	ANUARY 1, 2025, RESIDENTIAL REAL PROPERTY THAT AS OF THE19
	1253	+	ASSESSMENT DATE IS USED AS THE PRIMARY RESIDENCE OF AN20
	1254	+	OWNER-OCCUPIER IS CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY ,21
	1255	+	WHICH IS A SUBCLASS OF RESIDENTIAL REAL PROPERTY , IF:22
	1256	+	(I) T
	1257	+	HE OWNER-OCCUPIER COMPLETES AND FILES AN APPLICATION23
	1258	+	IN THE MANNER REQUIRED BY SUBSECTION (3) OF THIS SECTION; AND24
	1259	+	(II) T
	1260	+	HE CIRCUMSTANCES THAT QUALIFY THE PROPERTY FOR THE25
	1261	+	CLASSIFICATION HAVE NOT C HANGED SINCE THE FILING OF THE26
	1262	+	APPLICATION.27
	1263	+	303
	1264	+	-35- (b) UNDER NO CIRCUMSTANCES IS THE CLASSIFICATION ALLOWED1
	1265	+	FOR PROPERTY TAXES ASSESSED DURING ANY PROPERTY TAX YEAR PRIOR2
	1266	+	TO THE YEAR IN WHICH AN OWNER-OCCUPIER FIRST FILES AN APPLICATION3
	1267	+	IN THE MANNER REQUIRED BY SUBSECTION (3) OF THIS SECTION. IF4
	1268	+	OWNERSHIP OF RESIDENTIAL REAL PROPERTY THAT QUALIFIED AS PRIMARY5
	1269	+	RESIDENCE REAL PROPERTY AS OF THE ASSESSMENT DATE CHANGES AFTER6
	1270	+	THE ASSESSMENT DATE, THE CLASSIFICATION IS ALLOWED ONLY IF AN7
	1271	+	OWNER-OCCUPIER WHOSE STATUS AS AN OWNER -OCCUPIER QUALIFIED THE8
	1272	+	PROPERTY FOR THE CLASSIFICATION HAS FILED AN APPLICATION BY THE9
	1273	+	DEADLINE SPECIFIED IN SUBSECTION (3)(a) OF THIS SECTION.10
	1274	+	(c) I
	1275	+	F AN INDIVIDUAL OWNS AND OCCUPIES A DWELLING UNIT IN A11
	1276	+	COMMON INTEREST COMMUNITY , AS DEFINED IN SECTION 38-33.3-103 (8),12
	1277	+	AS THE INDIVIDUAL'S PRIMARY RESIDENCE, ONLY THE DWELLING UNIT13
	1278	+	THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL 'S PRIMARY14
	1279	+	RESIDENCE MAY QUALIFY AS PRIMARY RESIDENCE REAL PROPERTY OR15
	1280	+	QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY .16
	1281	+	(d) F
	1282	+	OR PURPOSES OF THIS SUBSECTION (2), TWO INDIVIDUALS WHO17
	1283	+	ARE LEGALLY MARRIED OR ARE CIVIL UNION PARTNERS , BUT WHO OWN18
	1284	+	MORE THAN ONE PARCEL OF RESIDENTIAL REAL PROPERTY , ARE DEEMED19
	1285	+	TO OCCUPY THE SAME PRIMARY RESIDENCE AND ONLY THAT PROPERTY20
	1286	+	MAY BE CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY . IF AN
	1287	+	21
	1288	+	INDIVIDUAL IS AN OWNER-OCCUPIER OF A RESIDENTIAL REAL PROPERTY22
	1289	+	AND AN OWNER OF RECORD ON ANOTHER PROPERTY ALONG WITH A23
	1290	+	MEMBER OF THE INDIVIDUAL 'S FAMILY OTHER THAN THE INDIVIDUAL 'S24
	1291	+	SPOUSE, THEN THE OTHER FAMILY MEMBER MAY BE AN OWNER -OCCUPIER25
	1292	+	OF THE OTHER PROPERTY.26
	1293	+	(e) R
	1294	+	EAL PROPERTY THAT MIGHT OTHERWISE BE CLASSIFIED AS27
	1295	+	303
	1296	+	-36- MULTI-FAMILY RESIDENTIAL REAL PROPERTY THAT CONTAINS A UNIT THAT1
	1297	+	QUALIFIES AS PRIMARY RESIDENCE REAL PROPERTY UNDER THIS SECTION2
	1298	+	IS CLASSIFIED AS MULTI-FAMILY PRIMARY RESIDENCE REAL PROPERTY .3
	1299	+	(3) Applications. (a) F
	1300	+	OR A PROPERTY TO BE CLASSIFIED AS4
	1301	+	PRIMARY RESIDENCE REAL PROPERTY OR AS QUALIFIED -SENIOR PRIMARY5
	1302	+	RESIDENCE REAL PROPERTY , AN INDIVIDUAL MUST FILE WITH THE6
	1303	+	ASSESSOR A COMPLETED APPLICATION NO LATER THAN MARCH 15 OF THE7
	1304	+	FIRST PROPERTY TAX YEAR FOR WHICH THE CLASSIFICATION IS SOUGHT .8
	1305	+	A
	1306	+	N APPLICATION RETURNED BY MAIL IS DEEMED FILED ON THE DATE IT IS9
	1307	+	POSTMARKED.10
	1308	+	(b) (I) A
	1309	+	N APPLICANT MUST COMPLETE AN APPLICATION FOR11
	1310	+	PROPERTY TO BE CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY OR12
	1311	+	AS QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY ON A FORM13
	1312	+	PRESCRIBED BY THE ADMINISTRATOR THAT INCLUDES THE FOLLOWING14
	1313	+	INFORMATION: 15
	1314	+	(A) T
	1315	+	HE APPLICANT'S NAME, MAILING ADDRESS, AND SOCIAL16
	1316	+	SECURITY NUMBER;17
892	1317		(B) T
893		-	HE STATE CONTROLLER SHALL NOTIFY THE ADMINISTRATOR IF
894		-	SUBSECTION
895		-	(1.9)(a) OF THIS SECTION APPLIES, AND THE ADMINISTRATOR
896		-	SHALL PUBLISH NOTICE ON THE WEBSITE MAINTAINED BY THE DIVISION OF
897		-	PROPERTY TAXATION IN THE DEPARTMENT OF LOCAL AFFAIRS THAT THE
898		-	APPLICABLE TEMPORARY REDUCTIONS SET FORTH IN SUBSECTIONS
899		-	(1)(b)
900		-	AND (1.8) OF THIS SECTION MADE IN SENATE BILL 23-303 DO NOT APPLY.
901		-	SECTION 9. In Colorado Revised Statutes, 39-1-104.2, amend
902		-	(3)(q) and (3)(r); and add (1)(a.3), (1)(a.7), (3.5), and (3.7) as follows:
903		-	39-1-104.2. Residential real property - valuation for assessment
904		-	PAGE 18-SENATE BILL 23-303 - legislative declaration - definitions. (1) As used in this section, unless
905		-	the context otherwise requires:
906		-	(a.3) "P
907		-	RIMARY RESIDENCE REAL PROPERTY" MEANS PROPERTY THAT
908		-	IS CLASSIFIED AS SUCH UNDER SECTION
909		-	39-1-104.6.
910		-	(a.7) "Q
911		-	UALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY "
912		-	MEANS PROPERTY THAT IS CLASSIFIED AS SUCH UNDER SECTION 39-1-104.7
913		-	(2).
914		-	(3) (q) The ratio of
915		-	valuation for assessment for multi-family
916		-	residential real property is 7.15 percent of
917		-	THE actual value THEREOF for
918		-	property tax years commencing on or after January 1, 2019; except that
919		-	THE
920		-	VALUATION FOR ASSESSMENT IS TEMPORARILY REDUCED AS FOLLOWS
921		-	:
922		-	(I) For the property tax years
923		-	YEAR commencing on January 1, 2022,
924		-	and January 1, 2024, the ratio of valuation for assessment for multi-family
925		-	residential real property is temporarily reduced to 6.8 percent of THE actual
926		-	value
927		-	THEREOF;
928		-	(II) For the property tax year commencing on January 1, 2023, the
929		-	ratio of
930		-	valuation for assessment for multi-family residential real property
931		-	is temporarily reduced to 6.765 percent 6.7 PERCENT of THE AMOUNT EQUAL
932		-	TO THE
933		-	actual value OF THE PROPERTY MINUS THE LESSER OF FIFTY
934		-	THOUSAND DOLLARS OR THE AMOUNT THAT CAUSES THE VALUATION FOR
935		-	ASSESSMENT OF THE PROPERTY TO BE ONE THOUSAND DOLLARS
936		-	; AND
937		-	(III) FOR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER
938		-	JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2033, THE VALUATION FOR
939		-	ASSESSMENT FOR MULTI
940		-	-FAMILY RESIDENTIAL REAL PROPERTY IS 6.7
941		-	PERCENT OF THE AMOUNT EQUAL TO THE ACTUAL VALUE OF THE PROPERTY
942		-	MINUS THE LESSER OF FORTY THOUSAND DOLLARS OR THE AMOUNT THAT
943		-	CAUSES THE VALUATION FOR ASSESSMENT OF THE PROPERTY TO BE ONE
944		-	THOUSAND DOLLARS
945		-	.
946		-	(r) The ratio of
947		-	valuation for assessment for all residential real
948		-	property other than multi-family residential real property is 7.15 percent of
949		-	THE actual value THEREOF; except that THE VALUATION FOR ASSESSMENT IS
950		-	TEMPORARILY REDUCED AS FOLLOWS
951		-	:
952		-	PAGE 19-SENATE BILL 23-303 (I) For the property tax year commencing on January 1, 2022, the
953		-	ratio of valuation for assessment for all residential real property other than
954		-	multi-family residential real property is temporarily reduced to 6.95 percent
955		-	of
956		-	THE actual value THEREOF;
957		-	(II) For the property tax year commencing on January 1, 2023, the
958		-	ratio of
959		-	valuation for assessment for all residential real property other than
960		-	multi-family residential real property is 6.765 percent 6.7 PERCENT of THE
961		-	AMOUNT EQUAL TO THE
962		-	actual value and
963		-	OF THE PROPERTY MINUS THE
964		-	LESSER OF FIFTY THOUSAND DOLLARS OR THE AMOUNT THAT CAUSES THE
965		-	VALUATION FOR ASSESSMENT OF THE PROPERTY TO BE ONE THOUSAND
966		-	DOLLARS
967		-	;
968		-	(III) For the property tax year commencing on January 1, 2024, the
969		-	ratio of
970		-	valuation for assessment for all residential real property other than
971		-	multi-family residential real property is temporarily established as the
972		-	percentage calculated in accordance with section 39-1-104.4 6.7 PERCENT
973		-	OF THE AMOUNT EQUAL TO THE ACTUAL VALUE OF THE PROPERTY MINUS THE
974		-	LESSER OF FORTY THOUSAND DOLLARS OR THE AMOUNT THAT CAUSES THE
975		-	VALUATION FOR ASSESSMENT OF THE PROPERTY TO BE ONE THOUSAND
976		-	DOLLARS
977		-	; AND
978		-	(IV) FOR PROPERTY TAX YEARS COMMENCING ON AND AFTER
979		-	JANUARY 1, 2025, BUT BEFORE JANUARY 1, 2033:
980		-	(A)
981		-	THE VALUATION FOR ASSESSMENT FOR PRIMARY RESIDENCE REAL
982		-	PROPERTY
983		-	, INCLUDING MULTI-FAMILY PRIMARY RESIDENCE REAL PROPERTY ,
984		-	IS 6.7 PERCENT OF THE AMOUNT EQUAL TO THE ACTUAL VALUE OF THE
985		-	PROPERTY MINUS THE LESSER OF FORTY THOUSAND DOLLARS OR THE
986		-	AMOUNT THAT CAUSES THE VALUATION FOR ASSESSMENT OF THE PROPERTY
987		-	TO BE ONE THOUSAND DOLLARS
988		-	;
	1318	+	HE ADDRESS AND SCHEDULE OR PARCEL NUMBER OF THE18
	1319	+	PROPERTY;19
	1320	+	(C) T
	1321	+	HE NAME AND SOCIAL SECURITY NUMBER OF THE APPLICANT 'S20
	1322	+	SPOUSE OR CIVIL UNION PARTNER WHO OCCUPIES THE PROPERTY AS THE21
	1323	+	SPOUSE OR CIVIL UNION PARTNER'S PRIMARY RESIDENCE;22
	1324	+	(D) I
	1325	+	F A TRUST IS THE OWNER OF RECORD OF THE PROPERTY , THE23
	1326	+	NAMES OF THE MAKER OF THE TRUST , THE TRUSTEE, AND THE24
	1327	+	BENEFICIARIES OF THE TRUST;25
	1328	+	(E) I
	1329	+	F A CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY IS THE26
	1330	+	OWNER OF RECORD OF THE PROPERTY , THE NAMES OF THE PRINCIPALS OR27
	1331	+	303
	1332	+	-37- THE CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY ;1
	1333	+	(F) A
	1334	+	STATEMENT OF WHETHER THE APPLICANT PREVIOUSLY2
	1335	+	QUALIFIED FOR THE PROPERTY TAX EXEMPTION FOR QUALIFYING SENIORS3
	1336	+	ALLOWED BY SECTION 39-3-203 (1) FOR A DIFFERENT PROPERTY THAN THE4
	1337	+	PROPERTY THAT THE APPLICANT CURRENTLY OCCUPIES AS THE5
	1338	+	APPLICANT'S PRIMARY RESIDENCE;6
	1339	+	(G) A
	1340	+	N AFFIRMATION, IN A FORM PRESCRIBED BY THE7
	1341	+	ADMINISTRATOR, THAT THE APPLICANT BELIEVES, UNDER PENALTY OF8
	1342	+	PERJURY IN THE SECOND DEGREE AS DEFINED IN SECTION 18-8-503, THAT9
	1343	+	ALL INFORMATION PROVIDED BY THE APPLICANT IS CORRECT ; AND10
	1344	+	(H) A
	1345	+	NY OTHER INFORMATION THAT THE ADMINISTRATOR11
	1346	+	REASONABLY DEEMS NECESSARY .12
	1347	+	(II) T
	1348	+	HE ADMINISTRATOR SHALL ALSO INCLUDE IN THE13
	1349	+	APPLICATION A STATEMENT THAT AN APPLICANT , OR, IF APPLICABLE, THE14
	1350	+	TRUSTEE, HAS A LEGAL OBLIGATION TO INFORM THE ASSESSOR WITHIN15
	1351	+	SIXTY DAYS OF ANY CHANGE IN THE OWNERSHIP OR OCCUPANCY OF THE16
	1352	+	RESIDENTIAL REAL PROPERTY FOR WHICH CLASSIFICATION AS PRIMARY17
	1353	+	RESIDENCE REAL PROPERTY OR AS QUALIFIED-SENIOR PRIMARY RESIDENCE18
	1354	+	REAL PROPERTY HAS BEEN APPLIED FOR OR ALLOWED THAT WOULD19
	1355	+	PREVENT THE CLASSIFICATION FROM BEING ALLOWED FOR THE PROPERTY . 20
	1356	+	(c) F
	1357	+	OR PURPOSES OF THE APPLICATION AND RELATED PROVISIONS21
	1358	+	IN THIS SECTION, REAL PROPERTY THAT IS MULTI -FAMILY PRIMARY22
	1359	+	RESIDENCE REAL PROPERTY IS TREATED AS PRIMARY RESIDENCE REAL23
	1360	+	PROPERTY AND MULTI -FAMILY QUALIFIED-SENIOR PRIMARY REAL24
	1361	+	RESIDENCE IS TREATED AS QUALIFIED-SENIOR PRIMARY RESIDENCE REAL25
	1362	+	PROPERTY. 26
	1363	+	(4) Penalties. (a) I
	1364	+	N ADDITION TO ANY PENALTIES PRESCRIBED BY27
	1365	+	303
	1366	+	-38- LAW FOR PERJURY IN THE SECOND DEGREE , AN APPLICANT WHO1
	1367	+	KNOWINGLY PROVIDES FALSE INFORMATION ON AN APPLICATION OR2
	1368	+	ATTEMPTS TO CLAIM MORE THAN ONE PROPERTY AS PRIMARY RESIDENCE3
	1369	+	REAL PROPERTY OR QUALIFIED -SENIOR PRIMARY RESIDENCE REAL4
	1370	+	PROPERTY FOR THE SAME PROPERTY TAX YEAR SHALL :5
	1371	+	(I) N
	1372	+	OT BE ABLE TO CLAIM THE PROPERTY AS PRIMARY RESIDENCE6
	1373	+	REAL PROPERTY OR QUALIFIED -SENIOR PRIMARY RESIDENCE REAL7
	1374	+	PROPERTY FOR THE PROPERTY TAX YEAR ;8
	1375	+	(II) P
	1376	+	AY, TO THE TREASURER OF A COUNTY IN WHICH PROPERTY9
	1377	+	WAS IMPROPERLY CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY OR10
	1378	+	QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY DUE TO THE11
	1379	+	PROVISION BY THE APPLICANT OF FALSE INFORMATION OR THE FILING OF12
	1380	+	MORE THAN ONE APPLICATION , AN AMOUNT EQUAL TO THE AMOUNT OF13
	1381	+	PROPERTY TAXES NOT PAID AS A RESULT OF THE IMPROPER CLASSIFICATION14
	1382	+	AS PRIMARY RESIDENCE REAL PROPERTY OR QUALIFIED -SENIOR PRIMARY15
	1383	+	RESIDENCE REAL PROPERTY; AND16
	1384	+	(III) U
	1385	+	PON CONVICTION OF PERJURY, BE REQUIRED TO PAY TO THE17
	1386	+	TREASURER OF ANY COUNTY IN WHICH AN INVALID APPLICATION WAS18
	1387	+	FILED AN ADDITIONAL AMOUNT E QUAL TO TWICE THE AMOUNT OF THE19
	1388	+	PROPERTY TAXES IDENTIFIED IN SUBSECTION (4)(a)(II) OF THIS SECTION20
	1389	+	PLUS INTEREST, CALCULATED AT THE ANNUAL RATE CALCULATED21
	1390	+	PURSUANT TO SECTION 39-21-110.5 FROM THE DATE THE INVALID22
	1391	+	APPLICATION WAS FILED UNTIL THE DATE THE APPLICANT MAKES THE23
	1392	+	PAYMENT REQUIRED BY THIS SUBSECTION (4)(a)(III).24
	1393	+	(b) I
	1394	+	F AN APPLICANT OR A TRUSTEE FAILS TO INFORM THE25
	1395	+	ASSESSOR WITHIN SIXTY DAYS OF ANY CHANGE IN THE OWNERSHIP OR26
	1396	+	OCCUPANCY OF RESIDENTIAL REAL PROPERTY FOR CLASSIFICATION AS A27
	1397	+	303
	1398	+	-39- PRIMARY RESIDENCE REAL PROPERTY OR A QUALIFIED -SENIOR PRIMARY1
	1399	+	RESIDENCE REAL PROPERTY THAT HAS BEEN APPLIED FOR OR ALLOWED2
	1400	+	THAT WOULD PREVENT THE CLASSIFICATION FROM BEING ALLOWED FOR3
	1401	+	THE PROPERTY AS REQUIRED BY SUBSECTION (3)(b) OF THIS SECTION:4
	1402	+	(I) T
	1403	+	HE CLASSIFICATION IS NOT ALLOWED WITH RESPECT TO THE5
	1404	+	RESIDENTIAL REAL PROPERTY FOR THE SUBSEQUENT PROPERTY TAX YEAR ;6
	1405	+	AND7
	1406	+	(II) T
	1407	+	HE APPLICANT OR TRUSTEE SHALL PAY , TO THE TREASURER8
	1408	+	OF ANY COUNTY IN WHICH THE CLASSIFICATION WAS IMPROPERLY9
	1409	+	ALLOWED DUE TO THE APPLICANT 'S OR TRUSTEE'S FAILURE TO10
	1410	+	IMMEDIATELY INFORM THE ASSESSOR OF ANY CHANGE IN THE OWNERSHIP11
	1411	+	OR OCCUPANCY OF RESIDENTIAL REAL PROPERTY , AN AMOUNT EQUAL TO12
	1412	+	THE AMOUNT OF PROPERTY TAXES NOT PAID AS A RESULT OF THE13
	1413	+	IMPROPER CLASSIFICATION AS PRIMARY RESIDENCE REAL PROPERTY OR14
	1414	+	QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY PLUS INTEREST ,15
	1415	+	CALCULATED AT THE ANNUAL RATE SPECIFIED IN SECTION 39-21-110.516
	1416	+	FROM THE DATE ON WHICH THE CHANGE IN THE OWNERSHIP OR17
	1417	+	OCCUPANCY OCCURRED UNTIL THE DATE THE APPLICANT MAKES THE18
	1418	+	PAYMENT REQUIRED BY THIS SUBSECTION (4)(b)(II).19
	1419	+	(c) A
	1420	+	NY AMOUNT REQUIRED TO BE PAID TO A TREASURER20
	1421	+	PURSUANT TO SUBSECTION (4)(a) OR (4)(b) OF THIS SECTION IS DEEMED21
	1422	+	PART OF THE LIEN OF GENERAL TAXES IMPOSED ON THE PERSON REQUIRED22
	1423	+	TO PAY THE AMOUNT AND HAS THE PRIORITY SPECIFIED IN SECTION23
	1424	+	39-1-107
	1425	+	(2).24
	1426	+	(5) Confidentiality. (a) C
	1427	+	OMPLETED APPLICATIONS FOR25
	1428	+	CLASSIFICATION AS PRIMARY RESIDENCE REAL PROPERTY OR AS26
	1429	+	QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY ARE27
	1430	+	303
	1431	+	-40- CONFIDENTIAL; EXCEPT THAT:1
	1432	+	(I) (A) A
	1433	+	N ASSESSOR OR THE ADMINISTRATOR MAY RELEASE2
	1434	+	STATISTICAL COMPILATIONS OR INFORMATIONAL SUMMARIES OF ANY3
	1435	+	INFORMATION CONTAINED IN THE APPLICATIONS AND SHALL PROVIDE A4
	1436	+	COPY OF AN APPLICATION TO THE APPLICANT WHO RETURNED THE5
	1437	+	APPLICATION AND THE TREASURER OF THE SAME COUNTY AS THE6
	1438	+	ASSESSOR;7
	1439	+	(B) A
	1440	+	N ASSESSOR OR THE ADMINISTRATOR MAY INTRODUCE A8
	1441	+	COPY OF AN APPLICATION AS EVIDENCE IN ANY ADMINISTRATIVE HEARING9
	1442	+	OR LEGAL PROCEEDING IN WHICH THE ACCURACY OR VERACITY OF THE10
	1443	+	APPLICATION IS AT ISSUE SO LONG AS NEITHER THE APPLICANT 'S SOCIAL11
	1444	+	SECURITY NUMBER NOR ANY OTHER SOCIAL SECURITY NUMBER SET FORTH12
	1445	+	IN THE APPLICATION ARE DIVULGED.13
	1446	+	(II) A
	1447	+	TREASURER SHALL KEEP CONFIDENTIAL EACH INDIVIDUAL14
	1448	+	APPLICATION RECEIVED FROM AN ASSESSOR BUT MAY RELEASE15
	1449	+	STATISTICAL COMPILATIONS OR INFORMATIONAL SUMMARIES OF ANY16
	1450	+	INFORMATION CONTAINED IN APPLICATIONS AND MAY INTRODUCE A COPY17
	1451	+	OF AN APPLICATION AS EVIDENCE IN ANY ADMINISTRATIVE HEARING OR18
	1452	+	LEGAL PROCEEDING IN WHICH THE ACCURACY OR VERACITY OF THE19
	1453	+	APPLICATION IS AT ISSUE SO LONG AS NEITHER THE APPLICANT 'S SOCIAL20
	1454	+	SECURITY NUMBER NOR ANY OTHER SOCIAL SECURITY NUMBER SET FORTH21
	1455	+	IN THE APPLICATION IS DIVULGED.22
	1456	+	(III) T
	1457	+	HE ADMINISTRATOR MAY SHARE INFORMATION CONTAINED23
	1458	+	IN AN APPLICATION, INCLUDING ANY SOCIAL SECURITY NUMBER SET FORTH24
	1459	+	IN THE APPLICATION, WITH THE DEPARTMENT OF REVENUE TO THE EXTENT25
	1460	+	NECESSARY TO ENABLE THE ADMINISTRATOR TO VERIFY THAT THE26
	1461	+	APPLICANT SATISFIES LEGAL REQUIREMENTS FOR THE CLASSIFICATION .27
	1462	+	303
	1463	+	-41- (b) NOTWITHSTANDING THE PROVISIONS OF SUBSECTION (5)(a) OF1
	1464	+	THIS SECTION, THE ADMINISTRATOR, AN ASSESSOR, OR A TREASURER2
	1465	+	SHALL NOT GIVE ANY OTHER PERSON ANY LISTING OF APPLICANTS OR ANY3
	1466	+	OTHER INFORMATION THAT WOULD ENABLE A PERSON TO EASILY4
	1467	+	ASSEMBLE A MAILING LIST OF APPLICANTS FOR THE PRIMARY RESIDENCE5
	1468	+	REAL PROPERTY CLASSIFICATION OR QUALIFIED -SENIOR PRIMARY6
	1469	+	RESIDENCE REAL PROPERTY CLASSIFICATION .7
	1470	+	(c) I
	1471	+	N ACCORDANCE WITH SECTION 25-2-103 (4.7), THE8
	1472	+	ADMINISTRATOR SHALL ANNUALLY PROVIDE TO THE STATE REGISTRAR OF9
	1473	+	VITAL STATISTICS OF THE DEPARTMENT OF PUBLIC HEALTH AND10
	1474	+	ENVIRONMENT A LIST, BY NAME AND SOCIAL SECURITY NUMBER, OF EVERY11
	1475	+	INDIVIDUAL WHO HAD PROPERTY CLASSIFIED AS PRIMARY RESIDENCE REAL12
	1476	+	PROPERTY OR QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY FOR13
	1477	+	THE IMMEDIATELY PRECEDING YEAR SO THAT THE REGISTRAR CAN14
	1478	+	PROVIDE TO THE ADMINISTRATOR A LIST OF ALL THE INDIVIDUALS ON THE15
	1479	+	LIST WHO HAVE DIED. NO LATER THAN APRIL 1, 2026, AND APRIL 1 OF16
	1480	+	EACH YEAR THEREAFTER, THE ADMINISTRATOR SHALL FORWARD TO THE17
	1481	+	ASSESSOR OF EACH COUNTY THE NAME AND SOCIAL SECURITY NUMBER OF18
	1482	+	EACH DECEASED INDIVIDUAL WHO HAD RESIDENTIAL REAL PROPERTY19
	1483	+	LOCATED WITHIN THE COUNTY THAT WAS SO CLASSIFIED FOR THE20
	1484	+	IMMEDIATELY PRECEDING YEAR , SO THAT THE ASSESSOR CAN CHANGE THE21
	1485	+	CLASSIFICATION OF THE PROPERTY, IF NECESSARY.22
	1486	+	(6) Notice. (a) A
	1487	+	S SOON AS PRACTICABLE AFTER JANUARY 1,23
	1488	+	2025,
	1489	+	AND AFTER JANUARY 1 OF EACH YEAR THEREAFTER, EACH COUNTY24
	1490	+	TREASURER SHALL, AT THE TREASURER 'S DISCRETION, MAIL OR25
	1491	+	ELECTRONICALLY SEND TO EACH PERSON WHOSE NAME APPEARS ON THE26
	1492	+	TAX LIST AND WARRANT AS AN OWNER OF RESIDENTIAL REAL PROPERTY27
	1493	+	303
	1494	+	-42- NOTICE OF THE PRIMARY RESIDENCE REAL PROPERTY AND THE1
	1495	+	QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATIONS .2
	1496	+	T
	1497	+	HE TREASURER SHALL MAIL OR ELECTRONICALLY SEND THE NOTICE EACH3
	1498	+	YEAR ON OR BEFORE THE DATE ON WHICH THE TREASURER MAILS THE4
	1499	+	PROPERTY TAX STATEMENT FOR THE PREVIOUS PROPERTY TAX YEAR5
	1500	+	PURSUANT TO SECTION 39-10-103. THE ADMINISTRATOR SHALL PRESCRIBE6
	1501	+	THE FORM OF THE NOTICE, WHICH MUST INCLUDE A STATEMENT OF THE7
	1502	+	ELIGIBILITY CRITERIA FOR THE PRIMARY RESIDENCE REAL PROPERTY AND8
	1503	+	QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATIONS9
	1504	+	AND INSTRUCTIONS FOR OBTAINING A RELATED APPLICATION .10
989	1505		(b) T
990		-	HE VALUATION FOR ASSESSMENT FOR QUALIFIED -SENIOR
991		-	PRIMARY RESIDENCE REAL PROPERTY
992		-	, INCLUDING MULTI -FAMILY
993		-	QUALIFIED
994		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY , IS 6.7 PERCENT OF
995		-	THE AMOUNT EQUAL TO THE ACTUAL VALUE OF THE PROPERTY MINUS THE
996		-	LESSER OF ONE HUNDRED FORTY THOUS AND DOLLARS OR THE AMOUNT THAT
997		-	CAUSES THE VALUATION FOR ASSESSMENT OF THE PROPERTY TO BE ONE
998		-	THOUSAND DOLLARS
999		-	; AND
1000		-	PAGE 20-SENATE BILL 23-303 (C) THE VALUATION FOR ASSESSMENT FOR ALL RESIDENTIAL REAL
1001		-	PROPERTY THAT IS NOT SPECIFIED IN SUBSECTION
1002		-	(3)(q)(III), (3)(r)(IV)(A),
1003		-	OR (3)(r)(IV)(B) OF THIS SECTION IS 6.7 PERCENT OF THE ACTUAL VALUE
1004		-	THEREOF
1005		-	.
1006		-	(3.5) (a) T
1007		-	HE TEMPORARY REDUCTIONS IN THE VALUATIONS FOR
1008		-	ASSESSMENT SET FORTH IN SUBSECTION
1009		-	(3) OF THIS SECTION MADE IN
1010		-	SENATE BILL 23-303 ARE CONTINGENT ON THE STATE 'S AUTHORITY TO
1011		-	RETAIN AND SPEND STATE SURPLUS UP TO THE PROPOSITION
1012		-	HH CAP UNDER
1013		-	PART
1014		-	2 OF ARTICLE 77 OF TITLE 24. NOTWITHSTANDING ANY PROVISION OF
1015		-	SUBSECTION
1016		-	(3) OF THIS SECTION TO THE CONTRARY, IF, FOR A FISCAL YEAR
1017		-	COMMENCING ON OR AFTER
1018		-	JULY 1, 2023, THE STATE IS NOT PERMITTED TO
1019		-	RETAIN AND SPEND STATE SURPLUS UP TO THE PROPOSITION
1020		-	HH CAP FOR THE
1021		-	FISCAL YEAR FOR ANY REASON
1022		-	, EXCLUDING A LEGISLATIVE ENACTMENT BY
1023		-	THE GENERAL ASSEMBLY
1024		-	, THEN FOR THE PROPERTY TAX YEAR THAT BEGINS
1025		-	DURING THE FISCAL YEAR AND ALL PROPERTY TAX YEARS THEREAFTER
1026		-	, THE
1027		-	TEMPORARY REDUCTIONS IN THE VALUATION FOR ASSESSMENT SET FORTH
1028		-	IN SUBSECTION
1029		-	(3) OF THIS SECTION MADE IN SENATE BILL 23-303 DO NOT
1030		-	APPLY
1031		-	.
1032		-	(b) T
1033		-	HE STATE CONTROLLER SHALL NOTIFY THE ADMINISTRATOR IF
1034		-	SUBSECTION
1035		-	(3.5)(a) OF THIS SECTION APPLIES, AND THE ADMINISTRATOR
1036		-	SHALL PUBLISH NOTICE ON THE WEBSITE MAINTAINED BY THE DIVISION OF
1037		-	PROPERTY TAXATION IN THE DEPARTMENT OF LOCAL AFFAIRS THAT THE
1038		-	APPLICABLE TEMPORARY REDUCTIONS SET FORTH IN SUBSECTION
1039		-	(3) OF THIS
1040		-	SECTION MADE IN
1041		-	SENATE BILL 23-303 DO NOT APPLY.
1042		-	(3.7) (a) T
1043		-	HE ADMINISTRATOR SHALL CONVENE A WORKING GROUP
1044		-	WITH REPRESENTATIVES
1045		-	, INCLUDING ASSESSORS AND ELECTED COUNTY
1046		-	OFFICIALS FROM SMALL
1047		-	-, MEDIUM-, AND LARGE-SIZED COUNTIES AND A
1048		-	REPRESENTATIVE OF A STATEWIDE ORGANIZATION OF REAL ESTATE
1049		-	PROFESSIONALS
1050		-	, TO MAKE RECOMMENDATIONS ABOUT WAYS TO STREAMLINE
1051		-	AND IMPROVE THE DESIGNATION OF THE PRIMARY RESIDENCE REAL
1052		-	PROPERTY IN THE EVENT THAT VOTERS APPROVE THE BALLOT ISSUE
1053		-	REFERRED IN ACCORDANCE WITH SECTION
1054		-	24-77-202. IN FORMULATING ITS
1055		-	RECOMMENDATIONS
1056		-	, THE WORKING GROUP SHALL CONSIDER INFORMATION
1057		-	TECHNOLOGY NEEDS AND ADMINISTRATIVE IMPACTS
1058		-	. ON OR BEFORE
1059		-	JANUARY 1, 2024, THE WORKING GROUP SHALL PROVIDE A REPORT OF ITS
1060		-	RECOMMENDATIONS TO THE SENATE LOCAL GOVERNMENT AND HOUSING
1061		-	COMMITTEE
1062		-	, AND THE HOUSE OF REPRESENTATIVES TRANSPORTATION ,
1063		-	PAGE 21-SENATE BILL 23-303 HOUSING, AND LOCAL GOVERNMENT COMMITTEE ; EXCEPT THAT NO REPORT
1064		-	IS DUE IF THE BALLOT ISSUE DOES NOT PASS
1065		-	.
1066		-	(b) T
1067		-	HIS SUBSECTION (3.7) IS REPEALED, EFFECTIVE JULY 1, 2024.
1068		-	SECTION 10. In Colorado Revised Statutes, repeal 39-1-104.3 and
1069		-	39-1-104.4 as follows:
1070		-	39-1-104.3. Partial real property tax reductions - residential
1071		-	property - definitions - repeal. (1) As used in this section, unless the
1072		-	context otherwise requires, "residential real property" means property listed
1073		-	by the assessor under any residential real property classification code.
1074		-	(2) For the property tax year commencing on January 1, 2023,the
1075		-	valuation for assessment for residential real property is six and seven
1076		-	hundred sixty-five thousandths percent, as set forth in section 39-1-104.2
1077		-	(3)(q)(II) and (3)(r)(II), of the amount equal to the actual value, determined
1078		-	pursuant to section 39-1-103, minus the lesser of fifteen thousand dollars
1079		-	or the amount that reduces the valuation for assessment to one thousand
1080		-	dollars.
1081		-	(3) This adjustment does not apply to any other class of property.
1082		-	(4) This section is repealed, effective July 1, 2025.
1083		-	39-1-104.4. Adjustment of residential rate. (1) The ratio of
1084		-	valuation for assessment for residential real property other than multi-family
1085		-	residential real property for the property tax year commencing on January
1086		-	1, 2024, is equal to the percentage necessary for the following to equal a
1087		-	total of seven hundred million dollars:
1088		-	(a) The aggregate reduction of local government property tax
1089		-	revenue during the property tax year commencing on January 1, 2023, as a
1090		-	result of the changes made in Senate Bill 22-238, enacted in 2022, that
1091		-	reduced valuations for assessment set forth pursuant to sections 39-1-104
1092		-	(1)(b) and (1.8)(b), 39-1-104.2 (3)(q)(II) and (3)(r)(II), and 39-3-104.3 (2);
1093		-	and
1094		-	(b) The aggregate reduction of local government property tax
1095		-	revenue during the property tax year commencing on January 1, 2024, as a
1096		-	PAGE 22-SENATE BILL 23-303 result of the reduced valuations for assessment set forth pursuant to sections
1097		-	39-1-104 (1.8)(a) and 39-1-104.2 (3)(q)(I) and (3)(r)(III) for the property
1098		-	tax year commencing on January 1, 2024.
1099		-	(2) On or before March 21, 2024, based on the information available
1100		-	on that date, the property tax administrator shall submit a report to the
1101		-	general assembly calculating the ratio of valuation for assessment specified
1102		-	in subsection (1) of this section.
1103		-	SECTION 11. In Colorado Revised Statutes, add 39-1-104.6 and
1104		-	39-1-104.7 as follows:
1105		-	39-1-104.6. Primary residence real property. (1) Definitions. A
1106		-	S
1107		-	USED IN THIS SECTION
1108		-	, UNLESS THE CONTEXT OTHERWISE REQUIRES :
1109		-	(a) (I) "O
1110		-	WNER-OCCUPIER" MEANS AN INDIVIDUAL WHO:
1111		-	(A) I
1112		-	S AN OWNER OF RECORD OF RESIDENTIAL REAL PROPERTY THAT
1113		-	THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL
1114		-	'S PRIMARY RESIDENCE;
1115		-	(B) I
1116		-	S NOT AN OWNER OF RECORD OF THE RESIDENTIAL REAL
1117		-	PROPERTY THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL
1118		-	'S PRIMARY
1119		-	RESIDENCE
1120		-	, BUT EITHER IS A SPOUSE OR CIVIL UNION PARTNER OF AN OWNER
1121		-	OF RECORD OF THE RESIDENTIAL REAL PROPERTY AND WHO ALSO OCCUPIES
1122		-	THE RESIDENTIAL REAL PROPERTY AS THE OWNER OF RECORD
1123		-	'S PRIMARY
1124		-	RESIDENCE
1125		-	, OR IS THE SURVIVING SPOUSE OR PARTNER OF AN INDIVIDUAL
1126		-	WHO WAS AN OWNER OF RECORD OF THE RESIDENTIAL REAL PROPERTY AND
1127		-	WHO OCCUPIED THE RESIDENTIAL REAL PROPERTY WITH THE SURVIVING
1128		-	SPOUSE OR PARTNER AS THEIR PRIMARY RESIDENCE UNTIL THE OWNER OF
1129		-	RECORD
1130		-	'S DEATH; OR
1131		-	(C) IS NOT AN OWNER OF RECORD OF THE RESIDENTIAL REAL
1132		-	PROPERTY THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL
1133		-	'S PRIMARY
1134		-	RESIDENCE
1135		-	, ONLY BECAUSE THE PROPERTY HAS BEEN PURCHASED BY OR
1136		-	TRANSFERRED TO A TRUST
1137		-	, A CORPORATE PARTNERSHIP , OR ANY OTHER
1138		-	LEGAL ENTITY SOLELY FOR ESTATE PLANNING PURPOSES AND IS THE MAKER
1139		-	OF THE TRUST OR A PRINCIPAL OF THE CORPORATE PARTNERSHIP OR OTHER
1140		-	LEGAL ENTITY
1141		-	;
1142		-	(D) O
1143		-	CCUPIES RESIDENTIAL REAL PROPERTY AS THE INDIVIDUAL 'S
1144		-	PAGE 23-SENATE BILL 23-303 PRIMARY RESIDENCE AND IS THE SPOUSE OR CIVIL UNION PARTNER OF A
1145		-	PERSON WHO ALSO OCCUPIES THE RESIDENTIAL REAL PROPERTY
1146		-	, WHO IS NOT
1147		-	THE OWNER OF RECORD OF THE PROPERTY ONLY BECAUSE THE PROPERTY
1148		-	HAS BEEN PURCHASED BY OR TRANSFERRED TO A TRUST
1149		-	, A CORPORATE
1150		-	PARTNERSHIP
1151		-	, OR ANY OTHER LEGAL ENTITY SOLELY FOR ESTATE PLANNING
1152		-	PURPOSES
1153		-	, AND WHO IS THE MAKER OF THE TRUST OR A PRINCIPAL OF THE
1154		-	CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY
1155		-	; OR
1156		-	(E) OCCUPIES RESIDENTIAL REAL PROPERTY AS THE INDIVIDUAL 'S
1157		-	PRIMARY RESIDENCE AND IS THE SURVIVING SPOUSE OR PARTNER OF A
1158		-	PERSON WHO OCCUPIED THE RESIDENTIAL REAL PROPERTY WITH THE
1159		-	SURVIVING SPOUSE OR PARTNER UNTIL THE PERSON
1160		-	'S DEATH, WHO WAS NOT
1161		-	THE OWNER OF RECORD OF THE PROPERTY AT THE TIME OF THE PERSON
1162		-	'S
1163		-	DEATH ONLY BECAUSE THE PROPERTY HAD BEEN PURCHASED BY OR
1164		-	TRANSFERRED TO A TRUST
1165		-	, A CORPORATE PARTNERSHIP , OR ANY OTHER
1166		-	LEGAL ENTITY SOLELY FOR ESTATE PLANNING PURPOSES PRIOR TO THE
1167		-	PERSON
1168		-	'S DEATH, AND WHO WAS THE MAKER OF THE TRUST OR A PRINCIPAL
1169		-	OF THE CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY PRIOR TO THE
1170		-	PERSON
1171		-	'S DEATH.
1172		-	(II) "O
1173		-	WNER-OCCUPIER" ALSO INCLUDES ANY INDIVIDUAL WHO, BUT
1174		-	FOR THE CONFINEMENT OF THE INDIVIDUAL TO A HOSPITAL
1175		-	, NURSING HOME,
1176		-	OR ASSISTED LIVING FACILITY, WOULD OCCUPY THE RESIDENTIAL REAL
1177		-	PROPERTY AS THE INDIVIDUAL
1178		-	'S PRIMARY RESIDENCE AND WOULD MEET ONE
1179		-	OR MORE OF THE OWNERSHIP CRITERIA SPECIFIED IN SUBSECTION
1180		-	(1)(a)(I) OF
1181		-	THIS SECTION
1182		-	, IF THE RESIDENTIAL REAL PROPERTY:
1183		-	(A) I
1184		-	S TEMPORARILY UNOCCUPIED ; OR
1185		-	(B) IS OCCUPIED BY THE SPOUSE , CIVIL UNION PARTNER, OR A
1186		-	FINANCIAL DEPENDENT OF THE INDIVIDUAL
1187		-	.
1188		-	(b) "O
1189		-	WNER OF RECORD" MEANS AN INDIVIDUAL WHOSE NAME
1190		-	APPEARS ON A VALID RECORDED DEED TO RESIDENTIAL REAL PROPERTY AS
1191		-	AN OWNER OF THE PROPERTY
1192		-	.
1193		-	(c) "Q
1194		-	UALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY "
1195		-	MEANS A PROPERTY THAT IS CLASSIFIED AS SUCH UNDER SECTION
1196		-	39-1-104.7.
1197		-	PAGE 24-SENATE BILL 23-303 (d) "SURVIVING SPOUSE OR PARTNER" MEANS AN INDIVIDUAL WHO
1198		-	WAS LEGALLY MARRIED TO ANOTHER INDIVIDUAL
1199		-	, OR WAS A PARTNER IN A
1200		-	CIVIL UNION WITH ANOTHER INDIVIDUAL
1201		-	, AT THE TIME OF THE OTHER
1202		-	INDIVIDUAL
1203		-	'S DEATH AND WHO HAS NOT REMARRIED OR ENTERED INTO
1204		-	ANOTHER CIVIL UNION
1205		-	.
1206		-	(2) Classification. (a) E
1207		-	XCEPT AS SET FORTH IN SECTION
1208		-	39-1-104.7, FOR PROPERTY TAX YEARS COMMENCING ON AND AFTER
1209		-	JANUARY 1, 2025, RESIDENTIAL REAL PROPERTY THAT AS OF THE
1210		-	ASSESSMENT DATE IS USED AS THE PRIMARY RESIDENCE OF AN
1211		-	OWNER
1212		-	-OCCUPIER IS CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY ,
1213		-	WHICH IS A SUBCLASS OF RESIDENTIAL REAL PROPERTY , IF:
	1506	+	O REDUCE MAILING COSTS, AN ASSESSOR MAY COORDINATE11
	1507	+	WITH THE TREASURER OF THE SAME COUNTY TO INCLUDE NOTICE WITH THE12
	1508	+	TAX STATEMENT FOR THE PREVIOUS PROPERTY TAX YEAR MAILED13
	1509	+	PURSUANT TO SECTION 39-10-103, OR MAY INCLUDE NOTICE WITH THE14
	1510	+	NOTICE OF VALUATION MAILED PURSUANT TO SECTION 39-5-121 (1)(a).15
	1511	+	(7) Notice of classification - appeal. (a) (I) E
	1512	+	XCEPT AS16
	1513	+	OTHERWISE PROVIDED IN SUBSECTION (7)(b) OF THIS SECTION, AN17
	1514	+	ASSESSOR SHALL ONLY CLASSIFY PROPERTY AS PRIMARY RESIDENCE REAL18
	1515	+	PROPERTY OR QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY IF19
	1516	+	AN APPLICANT HAS TIMELY RETURNED AN APPLICATION IN ACCORDANCE20
	1517	+	WITH SUBSECTION (3) OF THIS SECTION THAT ESTABLISHES THAT EITHER21
	1518	+	CLASSIFICATION IS APPROPRIATE.22
	1519	+	(II) I
	1520	+	F THE INFORMATION PROVIDED ON OR WITH AN APPLICATION23
	1521	+	INDICATES THAT THE APPLICANT IS NOT ENTITLED TO THE CLASSIFICATION ,24
	1522	+	OR IS INSUFFICIENT TO ALLOW THE ASSESSOR TO DETERMINE WHETHER THE25
	1523	+	PROPERTY MEETS THE CLASSIFICATION , THE ASSESSOR SHALL DENY THE26
	1524	+	APPLICATION AND MAIL TO THE APPLICANT A STATEMENT PROVIDING THE27
	1525	+	303
	1526	+	-43- REASONS FOR THE DENIAL AND INFORMING THE APPLICANT OF THE1
	1527	+	APPLICANT'S RIGHT TO CONTEST THE DENIAL PURSUANT TO SUBSECTION2
	1528	+	(7)(b)
	1529	+	OF THIS SECTION. THE ASSESSOR SHALL MAIL THE STATEMENT NO3
	1530	+	LATER THAN AUGUST 1 OF THE PROPERTY TAX YEAR FOR WHICH THE4
	1531	+	APPLICATION WAS FILED.5
	1532	+	(b) (I) A
	1533	+	N APPLICANT WHOSE APPLICATION HAS BEEN DENIED MAY6
	1534	+	CONTEST THE DENIAL BY REQUESTING A HEARING BEFORE THE COUNTY7
	1535	+	COMMISSIONERS SITTING AS THE COUNTY BOARD OF EQUALIZATION NO8
	1536	+	LATER THAN AUGUST 15 OF THE PROPERTY TAX YEAR FOR WHICH THE9
	1537	+	APPLICATION WAS FILED. THE HEARING SHALL BE HELD ON OR AFTER10
	1538	+	A
	1539	+	UGUST 1 AND NO LATER THAN SEPTEMBER 1 OF THE PROPERTY TAX YEAR11
	1540	+	FOR WHICH THE APPLICATION WAS FILED , AND THE DECISION OF THE12
	1541	+	COUNTY BOARD OF EQUALIZATION IS NOT SUBJECT TO FURTHER13
	1542	+	ADMINISTRATIVE APPEAL BY EITHER THE APPLICANT OR THE ASSESSOR .14
	1543	+	(II) A
	1544	+	N INDIVIDUAL WHO HAS NOT TIMELY FILED AN APPLICATION15
	1545	+	WITH THE ASSESSOR BY MARCH 15 MAY FILE A LATE APPLICATION NO16
	1546	+	LATER THAN THE JULY 15 THAT IMMEDIATELY FOLLOWS THAT DEADLINE .17
	1547	+	T
	1548	+	HE ASSESSOR SHALL ACCEPT ANY SUCH APPLICATION BUT MAY NOT18
	1549	+	ACCEPT ANY LATE APPLICATION FILED AFTER JULY 15. A DECISION OF AN19
	1550	+	ASSESSOR TO DISALLOW THE FILING OF A LATE APPLICATION AFTER JULY20
	1551	+	15
	1552	+	OR TO GRANT OR DENY THE CLASSIFICATION TO AN APPLICANT WHO HAS21
	1553	+	FILED A LATE APPLICATION AFTER MARCH 15 BUT NO LATER THAN JULY 1522
	1554	+	IS FINAL, AND AN APPLICANT WHO IS DENIED LATE FILING OR AN23
	1555	+	EXEMPTION MAY NOT CONTEST THE DENIAL .24
	1556	+	(III) T
	1557	+	HE COUNTY BOARD OF EQUALIZATION MAY APPOINT25
	1558	+	INDEPENDENT REFEREES TO CONDUCT HEARINGS REQUESTED PURSUANT26
	1559	+	TO SUBSECTION (7)(b)(I) OF THIS SECTION ON BEHALF OF THE COUNTY27
	1560	+	303
	1561	+	-44- BOARD AND TO MAKE FINDINGS AND SUBMIT RECOMMENDATIONS TO THE1
	1562	+	COUNTY BOARD FOR ITS FINAL ACTION .2
	1563	+	(8) Reporting to administrator. (a) N
	1564	+	O LATER THAN SEPTEMBER3
	1565	+	10,
	1566	+	2025, AND SEPTEMBER 10 OF EACH YEAR THEREAFTER , EACH4
	1567	+	ASSESSOR SHALL FORWARD TO THE ADMINISTRATOR A REPORT ON THE5
	1568	+	RESIDENTIAL REAL PROPERTY IN THE ASSESSOR'S COUNTY THAT QUALIFIES6
	1569	+	AS PRIMARY RESIDENCE REAL PROPERTY OR QUALIFIED -SENIOR PRIMARY7
	1570	+	RESIDENCE REAL PROPERTY FOR THE CURRENT PROPERTY TAX YEAR . FOR8
	1571	+	EACH UNIT OF RESIDENTIAL REAL PROPERTY , THE REPORT MUST INCLUDE:9
1214	1572		(I) T
1215		-	HE OWNER-OCCUPIER COMPLETES AND FILES AN APPLICATION IN
1216		-	THE MANNER REQUIRED BY SUBSECTION
1217		-	(3) OF THIS SECTION; AND
1218		-	(II) THE CIRCUMSTANCES THAT QUALIFY THE PROPERTY FOR THE
1219		-	CLASSIFICATION HAVE NOT CHANGED SINCE THE FILING OF THE APPLICATION
1220		-	.
1221		-	(b) U
1222		-	NDER NO CIRCUMSTANCES IS THE CLASSIFICATION ALLOWED
1223		-	FOR PROPERTY TAXES ASSESSED DURING ANY PROPERTY TAX YEAR PRIOR TO
1224		-	THE YEAR IN WHICH AN OWNER
1225		-	-OCCUPIER FIRST FILES AN APPLICATION IN
1226		-	THE MANNER REQUIRED BY SUBSECTION
1227		-	(3) OF THIS SECTION. IF OWNERSHIP
1228		-	OF RESIDENTIAL REAL PROPERTY THAT QUALIFIED AS PRIMARY RESIDENCE
1229		-	REAL PROPERTY AS OF THE ASSESSMENT DATE CHANGES AFTER THE
1230		-	ASSESSMENT DATE
1231		-	, THE CLASSIFICATION IS ALLOWED ONLY IF AN
1232		-	OWNER
1233		-	-OCCUPIER WHOSE STATUS AS AN OWNER -OCCUPIER QUALIFIED THE
1234		-	PROPERTY FOR THE CLASSIFICATION HAS FILED AN APPLICATION BY THE
1235		-	DEADLINE SPECIFIED IN SUBSECTION
1236		-	(3)(a) OF THIS SECTION.
1237		-	(c) I
1238		-	F AN INDIVIDUAL OWNS AND OCCUPIES A DWELLING UNIT IN A
1239		-	COMMON INTEREST COMMUNITY
1240		-	, AS DEFINED IN SECTION 38-33.3-103 (8), AS
1241		-	THE INDIVIDUAL
1242		-	'S PRIMARY RESIDENCE, ONLY THE DWELLING UNIT THAT THE
1243		-	INDIVIDUAL OCCUPIES AS THE INDIVIDUAL
1244		-	'S PRIMARY RESIDENCE MAY
1245		-	QUALIFY AS PRIMARY RESIDENCE REAL PROPERTY OR QUALIFIED
1246		-	-SENIOR
1247		-	PRIMARY RESIDENCE REAL PROPERTY
1248		-	.
1249		-	(d) F
1250		-	OR PURPOSES OF THIS SUBSECTION (2), TWO INDIVIDUALS WHO
1251		-	ARE LEGALLY MARRIED OR ARE CIVIL UNION PARTNERS
1252		-	, BUT WHO OWN MORE
1253		-	THAN ONE PARCEL OF RESIDENTIAL REAL PROPERTY
1254		-	, ARE DEEMED TO
1255		-	PAGE 25-SENATE BILL 23-303 OCCUPY THE SAME PRIMARY RESIDENCE AND ONLY THAT PROPERTY MAY BE
1256		-	CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY
1257		-	. IF AN INDIVIDUAL IS AN
1258		-	OWNER
1259		-	-OCCUPIER OF A RESIDENTIAL REAL PROPERTY AND AN OWNER OF
1260		-	RECORD ON ANOTHER PROPERTY ALONG WITH A MEMBER OF THE
1261		-	INDIVIDUAL
1262		-	'S FAMILY OTHER THAN THE INDIVIDUAL 'S SPOUSE, THEN THE
1263		-	OTHER FAMILY MEMBER MAY BE AN OWNER
1264		-	-OCCUPIER OF THE OTHER
1265		-	PROPERTY
1266		-	.
1267		-	(e) R
1268		-	EAL PROPERTY THAT MIGHT OTHERWISE BE CLASSIFIED AS
1269		-	MULTI
1270		-	-FAMILY RESIDENTIAL REAL PROPERTY THAT CONTAINS A UNIT THAT
1271		-	QUALIFIES AS PRIMARY RESIDENCE REAL PROPERTY UNDER THIS SECTION IS
1272		-	CLASSIFIED AS MULTI
1273		-	-FAMILY PRIMARY RESIDENCE REAL PROPERTY .
1274		-	(3) Applications. (a) F
1275		-	OR A PROPERTY TO BE CLASSIFIED AS
1276		-	PRIMARY RESIDENCE REAL PROPERTY OR AS QUALIFIED
1277		-	-SENIOR PRIMARY
1278		-	RESIDENCE REAL PROPERTY
1279		-	, AN INDIVIDUAL MUST FILE WITH THE ASSESSOR
1280		-	A COMPLETED APPLICATION NO LATER THAN
1281		-	MARCH 15 OF THE FIRST
1282		-	PROPERTY TAX YEAR FOR WHICH THE CLASSIFICATION IS SOUGHT
1283		-	. AN
1284		-	APPLICATION RETURNED BY MAIL IS DEEMED FILED ON THE DATE IT IS
1285		-	POSTMARKED
1286		-	.
1287		-	(b) (I) A
1288		-	N APPLICANT MUST COMPLETE AN APPLICATION FOR
1289		-	PROPERTY TO BE CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY OR AS
1290		-	QUALIFIED
1291		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY ON A FORM
1292		-	PRESCRIBED BY THE ADMINISTRATOR THAT INCLUDES THE FOLLOWING
1293		-	INFORMATION
1294		-	:
1295		-	(A) T
1296		-	HE APPLICANT'S NAME, MAILING ADDRESS, AND SOCIAL
1297		-	SECURITY NUMBER
1298		-	;
1299		-	(B) T
1300		-	HE ADDRESS AND SCHEDULE OR PARCEL NUMBER OF THE
1301		-	PROPERTY
1302		-	;
1303		-	(C) T
1304		-	HE NAME AND SOCIAL SECURITY NUMBER OF THE APPLICANT 'S
1305		-	SPOUSE OR CIVIL UNION PARTNER WHO OCCUPIES THE PROPERTY AS THE
1306		-	SPOUSE OR CIVIL UNION PARTNER
1307		-	'S PRIMARY RESIDENCE;
1308		-	(D) I
1309		-	F A TRUST IS THE OWNER OF RECORD OF THE PROPERTY , THE
1310		-	NAMES OF THE MAKER OF THE TRUST
1311		-	, THE TRUSTEE, AND THE BENEFICIARIES
1312		-	OF THE TRUST
1313		-	;
1314		-	PAGE 26-SENATE BILL 23-303 (E) IF A CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY IS THE
1315		-	OWNER OF RECORD OF THE PROPERTY
1316		-	, THE NAMES OF THE PRINCIPALS OR THE
1317		-	CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY
1318		-	;
1319		-	(F) A
1320		-	STATEMENT OF WHETHER THE APPLICANT PREVIOUSLY
1321		-	QUALIFIED FOR THE PROPERTY TAX EXEMPTION FOR QUALIFYING SENIORS
1322		-	ALLOWED BY SECTION
1323		-	39-3-203 (1) FOR A DIFFERENT PROPERTY THAN THE
1324		-	PROPERTY THAT THE APPLICANT CURRENTLY OCCUPIES AS THE APPLICANT
1325		-	'S
1326		-	PRIMARY RESIDENCE
1327		-	;
1328		-	(G) A
1329		-	N AFFIRMATION, IN A FORM PRESCRIBED BY THE
1330		-	ADMINISTRATOR
1331		-	, THAT THE APPLICANT BELIEVES , UNDER PENALTY OF
1332		-	PERJURY IN THE SECOND DEGREE AS DEFINED IN SECTION
1333		-	18-8-503, THAT ALL
1334		-	INFORMATION PROVIDED BY THE APPLICANT IS CORRECT
1335		-	; AND
1336		-	(H) ANY OTHER INFORMATION THAT THE ADMINISTRATOR
1337		-	REASONABLY DEEMS NECESSARY
1338		-	.
	1573	+	HE LEGAL DESCRIPTION OF THE PROPERTY ;10
1339	1574		(II) T
1340		-	HE ADMINISTRATOR SHALL ALSO INCLUDE IN THE APPLICATION
1341		-	A STATEMENT THAT AN APPLICANT
1342		-	, OR, IF APPLICABLE, THE TRUSTEE, HAS A
1343		-	LEGAL OBLIGATION TO INFORM THE ASSESSOR WITHIN SIXTY DAYS OF ANY
1344		-	CHANGE IN THE OWNERSHIP OR OCCUPANCY OF THE RESIDENTIAL REAL
1345		-	PROPERTY FOR WHICH CLASSIFICATION AS PRIMARY RESIDENCE REAL
1346		-	PROPERTY OR AS QUALIFIED
1347		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY
1348		-	HAS BEEN APPLIED FOR OR ALLOWED THAT WOULD PREVENT THE
1349		-	CLASSIFICATION FROM BEING ALLOWED FOR THE PROPERTY
1350		-	.
1351		-	(c) F
1352		-	OR PURPOSES OF THE APPLICATION AND RELATED PROVISIONS IN
1353		-	THIS SECTION
1354		-	, REAL PROPERTY THAT IS MULTI-FAMILY PRIMARY RESIDENCE
1355		-	REAL PROPERTY IS TREATED AS PRIMARY RESIDENCE REAL PROPERTY AND
1356		-	MULTI
1357		-	-FAMILY QUALIFIED-SENIOR PRIMARY REAL RESIDENCE IS TREATED AS
1358		-	QUALIFIED
1359		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY .
1360		-	(4) Penalties. (a) I
1361		-	N ADDITION TO ANY PENALTIES PRESCRIBED BY
1362		-	LAW FOR PERJURY IN THE SECOND DEGREE
1363		-	, AN APPLICANT WHO KNOWINGLY
1364		-	PROVIDES FALSE INFORMATION ON AN APPLICATION OR ATTEMPTS TO CLAIM
1365		-	MORE THAN ONE PROPERTY AS PRIMARY RESIDENCE REAL PROPERTY OR
1366		-	QUALIFIED
1367		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY FOR THE SAME
1368		-	PROPERTY TAX YEAR SHALL
1369		-	:
1370		-	PAGE 27-SENATE BILL 23-303 (I) NOT BE ABLE TO CLAIM THE PROPERTY AS PRIMARY RESIDENCE
1371		-	REAL PROPERTY OR QUALIFIED
1372		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY
1373		-	FOR THE PROPERTY TAX YEAR
1374		-	;
1375		-	(II) P
1376		-	AY, TO THE TREASURER OF A COUNTY IN WHICH PROPERTY WAS
1377		-	IMPROPERLY CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY OR
1378		-	QUALIFIED
1379		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY DUE TO THE
1380		-	PROVISION BY THE APPLICANT OF FALSE INFORMATION OR THE FILING OF
1381		-	MORE THAN ONE APPLICATION
1382		-	, AN AMOUNT EQUAL TO THE AM OUNT OF
1383		-	PROPERTY TAXES NOT PAID AS A RESULT OF THE IMPROPER CLASSIFICATION
1384		-	AS PRIMARY RESIDENCE REAL PROPERTY OR QUALIFIED
1385		-	-SENIOR PRIMARY
1386		-	RESIDENCE REAL PROPERTY
1387		-	; AND
1388		-	(III) UPON CONVICTION OF PERJURY, BE REQUIRED TO PAY TO THE
1389		-	TREASURER OF ANY COUNTY IN WHICH AN INVALID APPLICATION WAS FILED
1390		-	AN ADDITIONAL AMOUNT EQUAL TO TWICE THE AMOUNT OF THE PROPERTY
1391		-	TAXES IDENTIFIED IN SUBSECTION
1392		-	(4)(a)(II) OF THIS SECTION PLUS INTEREST,
1393		-	CALCULATED AT THE ANNUAL RATE CALCULATED PURSUANT TO SECTION
1394		-	39-21-110.5 FROM THE DATE THE INVALID APPLICATION WAS FILED UNTIL
1395		-	THE DATE THE APPLICANT MAKES THE PAYMENT REQUIRED BY THIS
1396		-	SUBSECTION
1397		-	(4)(a)(III).
1398		-	(b) I
1399		-	F AN APPLICANT OR A TRUSTEE FAILS TO INFORM THE ASSESSOR
1400		-	WITHIN SIXTY DAYS OF ANY CHANGE IN THE OWNERSHIP OR OCCUPANCY OF
1401		-	RESIDENTIAL REAL PROPERTY FOR CLASSIFICATION AS A PRIMARY RESIDENCE
1402		-	REAL PROPERTY OR A QUALIFIED
1403		-	-SENIOR PRIMARY RESIDENCE REAL
1404		-	PROPERTY THAT HAS BEEN APPLIED FOR OR ALLOWED THAT WOULD PREVENT
1405		-	THE CLASSIFICATION FROM BEING ALLOWED FOR THE PROPERTY AS REQUIRED
1406		-	BY SUBSECTION
1407		-	(3)(b) OF THIS SECTION:
	1575	+	HE SCHEDULE OR PARCEL NUMBER FOR THE PROPERTY ; AND11
	1576	+	(III) T
	1577	+	HE NAME AND SOCIAL SECURITY NUMBER OF THE APPLICANT12
	1578	+	WHO CLAIMED AN EXEMPTION FOR THE PROPERTY AND , IF APPLICABLE, THE13
	1579	+	APPLICANT'S SPOUSE OR CIVIL UNION PARTNER WHO OCCUPIES THE14
	1580	+	PROPERTY.15
	1581	+	(b) (I) N
	1582	+	O LATER THAN NOVEMBER 1, 2025, AND NOVEMBER 1 OF16
	1583	+	EACH YEAR THEREAFTER, THE ADMINISTRATOR SHALL PROVIDE WRITTEN17
	1584	+	NOTICE TO AN APPLICANT THAT THE APPLICANT IS INELIGIBLE AND THE18
	1585	+	REASON FOR THE INELIGIBILITY. THE NOTICE MUST ALSO INCLUDE A19
	1586	+	STATEMENT SPECIFYING THE DEADLINE AND PROCEDURES FOR PROTESTING20
	1587	+	THE DENIAL OF THE CLASSIFICATION.21
	1588	+	(II) A
	1589	+	N APPLICANT WHOSE CLAIMS FOR THE CLASSIFICATION ARE22
	1590	+	DENIED BY THE ADMINISTRATOR PURSUANT TO SUBSECTION (8)(b)(I) OF23
	1591	+	THIS SECTION MAY FILE A WRITTEN PROTEST WITH THE ADMINISTRATOR NO24
	1592	+	LATER THAN NOVEMBER 15 OF THE YEAR IN WHICH THE CLASSIFICATION25
	1593	+	WAS DENIED. AN APPLICATION RETURNED BY MAIL IS DEEMED FILED ON26
	1594	+	THE DATE IT IS POSTMARKED. IF THE GROUND FOR THE DENIAL IS THAT THE27
	1595	+	303
	1596	+	-45- APPLICANT, OR THE APPLICANT AND THE APPLICANT 'S SPOUSE OR CIVIL1
	1597	+	UNION PARTNER, CLAIMED MULTIPLE CLASSIFICATIONS, THE SOLE GROUND2
	1598	+	FOR A PROTEST IS THAT THE APPLICANT , OR THE APPLICANT AND THE3
	1599	+	APPLICANT'S SPOUSE OR CIVIL UNION PARTNER, FILED ONLY ONE CLAIM4
	1600	+	FOR THE CLASSIFICATION, AND THE PROTEST MUST SPECIFY THE PROPERTY5
	1601	+	IDENTIFIED BY THE ADMINISTRATOR IN THE NOTICE DENYING THE6
	1602	+	CLASSIFICATION FOR WHICH NO CLASSIFICATION WAS CLAIMED . IF THE7
	1603	+	GROUND FOR THE DENIAL IS THAT THE APPLICANT IS NOT AN8
	1604	+	OWNER-OCCUPIER OF THE RESIDENTIAL REAL PROPERTY FOR WHICH THE9
	1605	+	CLASSIFICATION IS CLAIMED, THE SOLE GROUNDS FOR A PROTEST ARE THAT10
	1606	+	THE APPLICANT ACTUALLY IS AN OWNER -OCCUPIER AND THAT THE11
	1607	+	APPLICANT QUALIFIES FOR THE CLASSIFICATION . 12
	1608	+	(c) N
	1609	+	O LATER THAN DECEMBER 1, 2025, AND EACH DECEMBER 113
	1610	+	THEREAFTER, AND AFTER EXAMINING THE REPORTS SENT BY EACH14
	1611	+	ASSESSOR, DENYING CLAIMS FOR CLASSIFICATIONS , AND DECIDING15
	1612	+	PROTESTS IN ACCORDANCE WITH SUBSECTION (8)(b) OF THIS SECTION, THE16
	1613	+	ADMINISTRATOR SHALL PROVIDE WRITTEN NOTICE TO THE ASSESSOR OF17
	1614	+	EACH COUNTY IN WHICH AN APPLICATION HAS BEEN DENIED BECAUSE THE18
	1615	+	APPLICANT WAS INELIGIBLE.19
	1616	+	39-1-104.7. Qualified-senior primary residence real property20
	1617	+	- definitions. (1) A
	1618	+	S USED IN THIS SECTION, UNLESS THE CONTEXT21
	1619	+	OTHERWISE REQUIRES:22
	1620	+	(a) "O
	1621	+	WNER-OCCUPIER" HAS THE SAME MEANING AS SET FORTH IN23
	1622	+	SECTION 39-1-104.6 (1)(a).24
	1623	+	(b) "S
	1624	+	ENIOR HOMESTEAD EXEMPTION " MEANS THE PROPERTY TAX25
	1625	+	EXEMPTION FOR QUALIFYING SENIORS ALLOWED BY SECTION 39-3-203 (1).26
	1626	+	(2) (a) F
	1627	+	OR PROPERTY TAX YEARS COMMENCING ON
	1628	+	AND AFTER27
	1629	+	303
	1630	+	-46- JANUARY 1, 2025, RESIDENTIAL REAL PROPERTY THAT AS OF THE1
	1631	+	ASSESSMENT DATE IS USED AS THE PRIMARY RESIDENCE OF AN2
	1632	+	OWNER-OCCUPIER IS CLASSIFIED AS QUALIFIED -SENIOR PRIMARY3
	1633	+	RESIDENCE REAL PROPERTY, WHICH IS A SUBCLASS OF RESIDENTIAL REAL4
	1634	+	PROPERTY, IF:5
1408	1635		(I) T
1409		-	HE CLASSIFICATION IS NOT ALLOWED WITH RESPECT TO THE
1410		-	RESIDENTIAL REAL PROPERTY FOR THE SUBSEQUENT PROPERTY TAX YEAR
1411		-	;
1412		-	AND
1413		-	(II) THE APPLICANT OR TRUSTEE SHALL PAY, TO THE TREASURER OF
1414		-	ANY COUNTY IN WHICH THE CLASSIFICATION WAS IMPROPERLY ALLOWED
1415		-	DUE TO THE APPLICANT
1416		-	'S OR TRUSTEE'S FAILURE TO IMMEDIATELY INFORM
1417		-	THE ASSESSOR OF ANY CHANGE IN THE OWNERSHIP OR OCCUPANCY OF
1418		-	RESIDENTIAL REAL PROPERTY
1419		-	, AN AMOUNT EQUAL TO THE AMOUNT OF
1420		-	PROPERTY TAXES NOT PAID AS A RESULT OF THE IMPROPER CLASSIFICATION
1421		-	PAGE 28-SENATE BILL 23-303 AS PRIMARY RESIDENCE REAL PROPERTY OR QUALIFIED -SENIOR PRIMARY
1422		-	RESIDENCE REAL PROPERTY PLUS INTEREST
1423		-	, CALCULATED AT THE ANNUAL
1424		-	RATE SPECIFIED IN SECTION
1425		-	39-21-110.5 FROM THE DATE ON WHICH THE
1426		-	CHANGE IN THE OWNERSHIP OR OCCUPANCY OCCURRED UNTIL THE DATE THE
1427		-	APPLICANT MAKES THE PAYMENT REQUIRED BY THIS SUBSECTION
1428		-	(4)(b)(II).
1429		-	(c) A
1430		-	NY AMOUNT REQUIRED TO BE PAID TO A TREASURER PURSUANT
1431		-	TO SUBSECTION
1432		-	(4)(a) OR (4)(b) OF THIS SECTION IS DEEMED PART OF THE
1433		-	LIEN OF GENERAL TAXES IMPOSED ON THE PERSON REQUIRED TO PAY THE
1434		-	AMOUNT AND HAS THE PRIORITY SPECIFIED IN SECTION
1435		-	39-1-107 (2).
1436		-	(5) Confidentiality. (a) C
1437		-	OMPLETED APPLICATIONS FOR
1438		-	CLASSIFICATION AS PRIMARY RESIDENCE REAL PROPERTY OR AS
1439		-	QUALIFIED
1440		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY ARE CONFIDENTIAL ;
1441		-	EXCEPT THAT:
1442		-	(I) (A) A
1443		-	N ASSESSOR OR THE ADMINISTRATOR MAY RELEASE
1444		-	STATISTICAL COMPILATIONS OR INFORMATIONAL SUMMARIES OF ANY
1445		-	INFORMATION CONTAINED IN THE APPLICATIONS AND SHALL PROVIDE A COPY
1446		-	OF AN APPLICATION TO THE APPLICANT WHO RETURNED THE APPLICATION
1447		-	AND THE TREASURER OF THE SAME COUNTY AS THE ASSESSOR
1448		-	;
1449		-	(B) A
1450		-	N ASSESSOR OR THE ADMINISTRATOR MAY INTRODUCE A COPY
1451		-	OF AN APPLICATION AS EVIDENCE IN ANY ADMINISTRATIVE HEARING OR
1452		-	LEGAL PROCEEDING IN WHICH THE ACCURACY OR VERACITY OF THE
1453		-	APPLICATION IS AT ISSUE SO LONG AS NEITHER THE APPLICANT
1454		-	'S SOCIAL
1455		-	SECURITY NUMBER NOR ANY OTHER SOCIAL SECURITY NUMBER SET FORTH
1456		-	IN THE APPLICATION ARE DIVULGED
1457		-	.
1458		-	(II) A
1459		-	TREASURER SHALL KEEP CONFIDENTIAL EACH INDIVIDUAL
1460		-	APPLICATION RECEIVED FROM AN ASSESSOR BUT MAY RELEASE STATISTICAL
1461		-	COMPILATIONS OR INFORMATIONAL SUMMARIES OF ANY INFORMATION
1462		-	CONTAINED IN APPLICATIONS AND MAY INTRODUCE A COPY OF AN
1463		-	APPLICATION AS EVIDENCE IN ANY ADMINISTRATIVE HEARING OR LEGAL
1464		-	PROCEEDING IN WHICH THE ACCURACY OR VERACITY OF THE APPLICATION IS
1465		-	AT ISSUE SO LONG AS NEITHER THE APPLICANT
1466		-	'S SOCIAL SECURITY NUMBER
1467		-	NOR ANY OTHER SOCIAL SECURITY NUMBER SET FORTH IN THE APPLICATION
1468		-	IS DIVULGED
1469		-	.
1470		-	(III) T
1471		-	HE ADMINISTRATOR MAY SHARE INFORMATION CONTAINED IN
1472		-	PAGE 29-SENATE BILL 23-303 AN APPLICATION, INCLUDING ANY SOCIAL SECURITY NUMBER SET FORTH IN
1473		-	THE APPLICATION
1474		-	, WITH THE DEPARTMENT OF REVENUE TO THE EXTENT
1475		-	NECESSARY TO ENABLE THE ADMINISTRATOR TO VERIFY THAT THE
1476		-	APPLICANT SATISFIES LEGAL REQUIREMENTS FOR THE CLASSIFICATION
1477		-	.
1478		-	(b) N
1479		-	OTWITHSTANDING THE PROVISIONS OF SUBSECTION (5)(a) OF
1480		-	THIS SECTION
1481		-	, THE ADMINISTRATOR, AN ASSESSOR, OR A TREASURER SHALL
1482		-	NOT GIVE ANY OTHER PERSON ANY LISTING OF APPLICANTS OR ANY OTHER
1483		-	INFORMATION THAT WOULD ENABLE A PERSON TO EASILY ASSEMBLE A
1484		-	MAILING LIST OF APPLICANTS FOR THE PRIMARY RESIDENCE REAL PROPERTY
1485		-	CLASSIFICATION OR QUALIFIED
1486		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY
1487		-	CLASSIFICATION
1488		-	.
1489		-	(c) I
1490		-	N ACCORDANCE WITH SECTION 25-2-103 (4.7), THE
1491		-	ADMINISTRATOR SHALL ANNUALLY PROVIDE TO THE STATE REGISTRAR OF
1492		-	VITAL STATISTICS OF THE DEPARTMENT OF PUBLIC HEALTH AND
1493		-	ENVIRONMENT A LIST
1494		-	, BY NAME AND SOCIAL SECURITY NUMBER , OF EVERY
1495		-	INDIVIDUAL WHO HAD PROPERTY CLASSIFIED AS PRIMARY RESIDENCE REAL
1496		-	PROPERTY OR QUALIFIED
1497		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY FOR
1498		-	THE IMMEDIATELY PRECEDING YEAR SO THAT THE REGISTRAR CAN PROVIDE
1499		-	TO THE ADMINISTRATOR A LIST OF ALL THE INDIVIDUALS ON THE LIST WHO
1500		-	HAVE DIED
1501		-	. NO LATER THAN APRIL 1, 2026, AND APRIL 1 OF EACH YEAR
1502		-	THEREAFTER
1503		-	, THE ADMINISTRATOR SHALL FORWARD TO THE ASSESSOR OF
1504		-	EACH COUNTY THE NAME AND SOCIAL SECURITY NUMBER OF EACH
1505		-	DECEASED INDIVIDUAL WHO HAD RESIDENTIAL REAL PROPERTY LOCATED
1506		-	WITHIN THE COUNTY THAT WAS SO CLASSIFIED FOR THE IMMEDIATELY
1507		-	PRECEDING YEAR
1508		-	, SO THAT THE ASSESSOR CAN CHANGE THE CLASSIFICATION
1509		-	OF THE PROPERTY
1510		-	, IF NECESSARY.
1511		-	(6) Notice. (a) A
1512		-	S SOON AS PRACTICABLE AFTER JANUARY 1, 2025,
1513		-	AND AFTER JANUARY 1 OF EACH YEAR THEREAFTER , EACH COUNTY
1514		-	TREASURER SHALL
1515		-	, AT THE TREASURER 'S DISCRETION, MAIL OR
1516		-	ELECTRONICALLY SEND TO EACH PERSON WHOSE NAME APPEARS ON THE TAX
1517		-	LIST AND WARRANT AS AN OWNER OF RESIDENTIAL REAL PROPERTY NOTICE
1518		-	OF THE PRIMARY RESIDENCE REAL PROPERTY AND THE QUALIFIED
1519		-	-SENIOR
1520		-	PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATIONS
1521		-	. THE TREASURER
1522		-	SHALL MAIL OR ELECTRONICALLY SEND THE NOTICE EACH YEAR ON OR
1523		-	BEFORE THE DATE ON WHICH THE TREASURER MAILS THE PROPERTY TAX
1524		-	STATEMENT FOR THE PREVIOUS PROPERTY TAX YEAR PURSUANT TO SECTION
1525		-	39-10-103. THE ADMINISTRATOR SHALL PRESCRIBE THE FORM OF THE
1526		-	PAGE 30-SENATE BILL 23-303 NOTICE, WHICH MUST INCLUDE A STATEMENT OF THE ELIGIBILITY CRITERIA
1527		-	FOR THE PRIMARY RESIDENCE REAL PROPERTY AND QUALIFIED
1528		-	-SENIOR
1529		-	PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATIONS AND INSTRUCTIONS
1530		-	FOR OBTAINING A RELATED APPLICATION
1531		-	.
1532		-	(b) T
1533		-	O REDUCE MAILING COSTS, AN ASSESSOR MAY COORDINATE
1534		-	WITH THE TREASURER OF THE SAME COUNTY TO INCLUDE NOTICE WITH THE
1535		-	TAX STATEMENT FOR THE PREVIOUS PROPERTY TAX YEAR MAILED PURSUANT
1536		-	TO SECTION
1537		-	39-10-103, OR MAY INCLUDE NOTICE WITH THE NOTICE OF
1538		-	VALUATION MAILED PURSUANT TO SECTION
1539		-	39-5-121 (1)(a).
1540		-	(7) Notice of classification - appeal. (a) (I) E
1541		-	XCEPT AS OTHERWISE
1542		-	PROVIDED IN SUBSECTION
1543		-	(7)(b) OF THIS SECTION, AN ASSESSOR SHALL ONLY
1544		-	CLASSIFY PROPERTY AS PRIMARY RESIDENCE REAL PROPERTY OR
1545		-	QUALIFIED
1546		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY IF AN APPLICANT
1547		-	HAS TIMELY RETURNED AN APPLICATION IN ACCORDANCE WITH SUBSECTION
1548		-	(3) OF THIS SECTION THAT ESTABLISHES THAT EITHER CLASSIFICATION IS
1549		-	APPROPRIATE
1550		-	.
1551		-	(II) I
1552		-	F THE INFORMATION PROVIDED ON OR WITH AN APPLICATION
1553		-	INDICATES THAT THE APPLICANT IS NOT ENTITLED TO THE CLASSIFICATION
1554		-	,
1555		-	OR IS INSUFFICIENT TO ALLOW THE ASSESSOR TO DETERMINE WHETHER THE
1556		-	PROPERTY MEETS THE CLASSIFICATION
1557		-	, THE ASSESSOR SHALL DENY THE
1558		-	APPLICATION AND MAIL TO THE APPLICANT A STATEMENT PROVIDING THE
1559		-	REASONS FOR THE DENIAL AND INFORMING THE APPLICANT OF THE
1560		-	APPLICANT
1561		-	'S RIGHT TO CONTEST THE DENIAL PURSUANT TO SUBSECTION
1562		-	(7)(b) OF THIS SECTION. THE ASSESSOR SHALL MAIL THE STATEMENT NO
1563		-	LATER THAN
1564		-	AUGUST 1 OF THE PROPERTY TAX YEAR FOR WHICH THE
1565		-	APPLICATION WAS FILED
1566		-	.
1567		-	(b) (I) A
1568		-	N APPLICANT WHOSE APPLICATION HAS BEEN DENIED MAY
1569		-	CONTEST THE DENIAL BY REQUESTING A HEARING BEFORE THE COUNTY
1570		-	COMMISSIONERS SITTING AS THE COUNTY BOARD OF EQUALIZATION NO
1571		-	LATER THAN
1572		-	AUGUST 15 OF THE PROPERTY TAX YEAR FOR WHICH THE
1573		-	APPLICATION WAS FILED
1574		-	. THE HEARING SHALL BE HELD ON OR AFTER
1575		-	AUGUST 1 AND NO LATER THAN SEPTEMBER 1 OF THE PROPERTY TAX YEAR
1576		-	FOR WHICH THE APPLICATION WAS FILED
1577		-	, AND THE DECISION OF THE COUNTY
1578		-	BOARD OF EQUALIZATION IS NOT SUBJECT TO FURTHER ADMINISTRATIVE
1579		-	APPEAL BY EITHER THE APPLICANT OR THE ASSESSOR
1580		-	.
1581		-	PAGE 31-SENATE BILL 23-303 (II) AN INDIVIDUAL WHO HAS NOT TIMELY FILED AN APPLICATION
1582		-	WITH THE ASSESSOR BY
1583		-	MARCH 15 MAY FILE A LATE APPLICATION NO LATER
1584		-	THAN THE
1585		-	JULY 15 THAT IMMEDIATELY FOLLOWS THAT DEADLINE . THE
1586		-	ASSESSOR SHALL ACCEPT ANY SUCH APPLICATION BUT MAY NOT ACCEPT ANY
1587		-	LATE APPLICATION FILED AFTER
1588		-	JULY 15. A DECISION OF AN ASSESSOR TO
1589		-	DISALLOW THE FILING OF A LATE APPLICATION AFTER
1590		-	JULY 15 OR TO GRANT
1591		-	OR DENY THE CLASSIFICATION TO AN APPLICANT WHO HAS FILED A LATE
1592		-	APPLICATION AFTER
1593		-	MARCH 15 BUT NO LATER THAN JULY 15 IS FINAL, AND
1594		-	AN APPLICANT WHO IS DENIED LATE FILING OR AN EXEMPTION MAY NOT
1595		-	CONTEST THE DENIAL
1596		-	.
1597		-	(III) T
1598		-	HE COUNTY BOARD OF E QUALIZATION MAY APPOINT
1599		-	INDEPENDENT REFEREES TO CONDUCT HEARINGS REQUESTED PURSUANT TO
1600		-	SUBSECTION
1601		-	(7)(b)(I) OF THIS SECTION ON BEHALF OF THE COUNTY BOARD
1602		-	AND TO MAKE FINDINGS AND SUBMIT RECOMMENDATIONS TO THE COUNTY
1603		-	BOARD FOR ITS FINAL ACTION
1604		-	.
1605		-	(8) Reporting to administrator. (a) N
1606		-	O LATER THAN SEPTEMBER
1607		-	10, 2025, AND SEPTEMBER 10 OF EACH YEAR THEREAFTER, EACH ASSESSOR
1608		-	SHALL FORWARD TO THE ADMINISTRATOR A REPORT ON THE RESIDENTIAL
1609		-	REAL PROPERTY IN THE ASSESSOR
1610		-	'S COUNTY THAT QUALIFIES AS PRIMARY
1611		-	RESIDENCE REAL PROPERTY OR QUALIFIED
1612		-	-SENIOR PRIMARY RESIDENCE REAL
1613		-	PROPERTY FOR THE CURRENT PROPERTY TAX YEAR
1614		-	. FOR EACH UNIT OF
1615		-	RESIDENTIAL REAL PROPERTY
1616		-	, THE REPORT MUST INCLUDE:
1617		-	(I) T
1618		-	HE LEGAL DESCRIPTION OF THE PROPERTY ;
	1636	+	HE REAL PROPERTY WOULD OTHERWISE BE CLASSIFIED AS6
	1637	+	PRIMARY RESIDENCE REAL PROPERTY UNDER SECTION 39-1-104.6; AND7
1619	1638		(II) T
1620		-	HE SCHEDULE OR PARCEL NUMBER FOR THE PROPERTY ; AND
1621		-	(III) THE NAME AND SOCIAL SECURITY NUMBER OF THE APPLICANT
1622		-	WHO CLAIMED AN EXEMPTION FOR THE PROPERTY AND
1623		-	, IF APPLICABLE, THE
1624		-	APPLICANT
1625		-	'S SPOUSE OR CIVIL UNION PARTNER WHO OCCUPIES THE
1626		-	PROPERTY
1627		-	.
1628		-	(b) (I) N
1629		-	O LATER THAN NOVEMBER 1, 2025, AND NOVEMBER 1 OF
1630		-	EACH YEAR THEREAFTER
1631		-	, THE ADMINISTRATOR SHALL PROVIDE WRITTEN
1632		-	NOTICE TO AN APPLICANT THAT THE APPLICANT IS INELIGIBLE AND THE
1633		-	REASON FOR THE INELIGIBILITY
1634		-	. THE NOTICE MUST ALSO INCLUDE A
1635		-	STATEMENT SPECIFYING THE DEADLINE AND PROCEDURES FOR PROTESTING
1636		-	THE DENIAL OF THE CLASSIFICATION
1637		-	.
1638		-	PAGE 32-SENATE BILL 23-303 (II) AN APPLICANT WHOSE CLAIMS FOR THE CLASSIFICATION ARE
1639		-	DENIED BY THE ADMINISTRATOR PURSUANT TO SUBSECTION
1640		-	(8)(b)(I) OF THIS
1641		-	SECTION MAY FILE A WRITTEN PROTEST WITH THE ADMINISTRATOR NO LATER
1642		-	THAN
1643		-	NOVEMBER 15 OF THE YEAR IN WHICH THE CLASSIFICATION WAS
1644		-	DENIED
1645		-	. AN APPLICATION RETURNED BY MAIL IS DEEMED FILED ON THE DATE
1646		-	IT IS POSTMARKED
1647		-	. IF THE GROUND FOR THE DENIAL IS THAT THE APPLICANT,
1648		-	OR THE APPLICANT AND THE APPLICANT'S SPOUSE OR CIVIL UNION PARTNER,
1649		-	CLAIMED MULTIPLE CLASSIFICATIONS, THE SOLE GROUND FOR A PROTEST IS
1650		-	THAT THE APPLICANT
1651		-	, OR THE APPLICANT AND THE APPLICANT'S SPOUSE OR
1652		-	CIVIL UNION PARTNER
1653		-	, FILED ONLY ONE CLAIM FOR THE CLASSIFICATION ,
1654		-	AND THE PROTEST MUST SPECIFY THE PROPERTY IDENTIFIED BY THE
1655		-	ADMINISTRATOR IN THE NOTICE DENYING THE CLASSIFICATION FOR WHICH
1656		-	NO CLASSIFICATION WAS CLAIMED
1657		-	. IF THE GROUND FOR THE DENIAL IS THAT
1658		-	THE APPLICANT IS NOT AN OWNER
1659		-	-OCCUPIER OF THE RESIDENTIAL REAL
1660		-	PROPERTY FOR WHICH THE CLASSIFICATION IS CLAIMED
1661		-	, THE SOLE GROUNDS
1662		-	FOR A PROTEST ARE THAT THE APPLICANT ACTUALLY IS AN OWNER
1663		-	-OCCUPIER
1664		-	AND THAT THE APPLICANT QUALIFIES FOR THE CLASSIFICATION
1665		-	.
1666		-	(c) N
1667		-	O LATER THAN DECEMBER 1, 2025, AND EACH DECEMBER 1
1668		-	THEREAFTER, AND AFTER EXAMINING THE REPORTS SENT BY EACH ASSESSOR ,
1669		-	DENYING CLAIMS FOR CLASSIFICATIONS , AND DECIDING PROTESTS IN
1670		-	ACCORDANCE WITH SUBSECTION
1671		-	(8)(b) OF THIS SECTION , THE
1672		-	ADMINISTRATOR SHALL PROVIDE WRITTEN NOTICE TO THE ASSESSOR OF
1673		-	EACH COUNTY IN WHICH AN APPLICATION HAS BEEN DENIED BECAUSE THE
1674		-	APPLICANT WAS INELIGIBLE
1675		-	.
1676		-	39-1-104.7. Qualified-senior primary residence real property -
1677		-	definitions. (1) A
1678		-	S USED IN THIS SECTION, UNLESS THE CONTEXT
1679		-	OTHERWISE REQUIRES
1680		-	:
1681		-	(a) "O
1682		-	WNER-OCCUPIER" HAS THE SAME MEANING AS SET FORTH IN
1683		-	SECTION
1684		-	39-1-104.6 (1)(a).
1685		-	(b) "S
1686		-	ENIOR HOMESTEAD EXEMPTION " MEANS THE PROPERTY TAX
1687		-	EXEMPTION FOR QUALIFYING SENIORS ALLOWED BY SECTION
1688		-	39-3-203 (1).
1689		-	(2) (a) F
1690		-	OR PROPERTY TAX YEARS COMMENCING ON AND AFTER
1691		-	JANUARY 1, 2025, RESIDENTIAL REAL PROPERTY THAT AS OF THE
1692		-	ASSESSMENT DATE IS USED AS THE PRIMARY RESIDENCE OF AN
1693		-	OWNER
1694		-	-OCCUPIER IS CLASSIFIED AS QUALIFIED-SENIOR PRIMARY RESIDENCE
1695		-	PAGE 33-SENATE BILL 23-303 REAL PROPERTY, WHICH IS A SUBCLASS OF RESIDENTIAL REAL PROPERTY , IF:
1696		-	(I) T
1697		-	HE REAL PROPERTY WOULD OTHERWISE BE CLASSIFIED AS
1698		-	PRIMARY RESIDENCE REAL PROPERTY UNDER SECTION
1699		-	39-1-104.6; AND
1700		-	(II) THE OWNER-OCCUPIER OF THE PROPERTY PREVIOUSLY QUALIFIED
1701		-	FOR THE SENIOR HOMESTEAD EXEMPTION FOR A DIFFERENT PROPERTY AND
1702		-	DOES NOT QUALIFY FOR THE SENIOR HOMESTEAD EXEMPTION FOR THE
1703		-	CURRENT PROPERTY TAX YEAR
1704		-	.
	1639	+	HE OWNER-OCCUPIER OF THE PROPERTY PREVIOUSLY8
	1640	+	QUALIFIED FOR THE SENIOR HOMESTEAD EXEMPTION FOR A DIFFERENT9
	1641	+	PROPERTY AND DOES NOT QUALIFY FOR THE SENIOR HOMESTEAD10
	1642	+	EXEMPTION FOR THE CURRENT PROPERTY TAX YEAR .11
1705	1643		(b) R
1706		-	EAL PROPERTY THAT MIGHT OTHERWISE BE CLASSIFIED AS
1707		-	MULTI
1708		-	-FAMILY RESIDENTIAL REAL PROPERTY THAT CONTAINS A UNIT THAT
1709		-	QUALIFIES AS QUALIFIED
1710		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY
1711		-	UNDER THIS SECTION IS CLASSIFIED AS MULTI
1712		-	-FAMILY QUALIFIED-SENIOR
1713		-	PRIMARY RESIDENCE REAL PROPERTY
1714		-	.
1715		-	SECTION 12. In Colorado Revised Statutes, 39-1-111, amend (1)
1716		-	and (5) as follows:
1717		-	39-1-111. Taxes levied by board of county commissioners -
1718		-	repeal. (1) (a) No later than December 22 in each year, the board of county
1719		-	commissioners in each county of the state, or such other body in the city and
1720		-	county of Denver as shall be authorized by law to levy taxes, or the city
1721		-	council of the city and county of Broomfield, shall, either by an order to be
1722		-	entered in the record of its proceedings or by written approval, levy against
1723		-	the valuation for assessment of all taxable property located in the county on
1724		-	the assessment date, and in the various towns, cities, school districts, and
1725		-	special districts within such county, the requisite property taxes for all
1726		-	purposes required by law.
	1644	+	EAL PROPERTY THAT MIGHT OTHERWISE BE CLASSIFIED AS12
	1645	+	MULTI-FAMILY RESIDENTIAL REAL PROPERTY THAT CONTAINS A UNIT THAT13
	1646	+	QUALIFIES AS QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY14
	1647	+	UNDER THIS SECTION IS CLASSIFIED AS MULTI-FAMILY QUALIFIED-SENIOR15
	1648	+	PRIMARY RESIDENCE REAL PROPERTY .16
	1649	+	SECTION 12. In Colorado Revised Statutes, 39-1-111, amend17
	1650	+	(1) and (5) as follows:18
	1651	+	39-1-111. Taxes levied by board of county commissioners -19
	1652	+	repeal. (1) (a) No later than December 22 in each year, the board of20
	1653	+	county commissioners in each county of the state, or such other body in21
	1654	+	the city and county of Denver as shall be authorized by law to levy taxes,22
	1655	+	or the city council of the city and county of Broomfield, shall, either by23
	1656	+	an order to be entered in the record of its proceedings or by written24
	1657	+	approval, levy against the valuation for assessment of all taxable property25
	1658	+	located in the county on the assessment date, and in the various towns,26
	1659	+	cities, school districts, and special districts within such county, the27
	1660	+	303
	1661	+	-47- requisite property taxes for all purposes required by law.1
1727	1662		(b) (I) F
1728		-	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
	1663	+	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY2
	1664	+	1,
	1665	+	2023, THE DEADLINE SET FORTH IN SUBSECTION (1)(a) OF THIS SECTION3
	1666	+	IS POSTPONED FROM DECEMBER 22, 2023, TO JANUARY 12, 2024.4
	1667	+	(II) T
	1668	+	HIS SUBSECTION (1)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.5
	1669	+	(5) (a) If, after certification of the valuation for assessment6
	1670	+	pursuant to section 39-5-128 and notification of total actual value7
	1671	+	pursuant to section 39-5-121 (2)(b) but prior to December 10, changes in8
	1672	+	such valuation for assessment or total actual value are made by the9
	1673	+	assessor, the assessor shall send a single notification to the board of10
	1674	+	county commissioners or other body authorized by law to levy property11
	1675	+	taxes, to the division of local government, and to the department of12
	1676	+	education that includes all of such changes that have occurred during said13
	1677	+	specified period of time. Upon receipt of such notification, such board or14
	1678	+	body shall make adjustments in the tax levies to ensure compliance with15
	1679	+	section 29-1-301, C.R.S.,
	1680	+	if applicable, and may make adjustments in16
	1681	+	order that the same amount of revenue be raised. A copy of any17
	1682	+	adjustment to tax levies shall be transmitted to the administrator and18
	1683	+	assessor. Nothing in this subsection (5) shall be construed as conferring19
	1684	+	the authority to exceed statutorily imposed mill levy or revenue-raising20
	1685	+	limits.21
	1686	+	(b) (I) F
	1687	+	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY22
	1688	+	1,
	1689	+	2023, THE DEADLINE SET FORTH IN SUBSECTION (5)(a) OF THIS SECTION23
	1690	+	IS POSTPONED FROM DECEMBER 10, 2023, TO DECEMBER 29, 2023.24
	1691	+	(II) T
	1692	+	HIS SUBSECTION (5)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.25
	1693	+	SECTION 13. In Colorado Revised Statutes, 39-5-128, amend26
	1694	+	(1) as follows:27
	1695	+	303
	1696	+	-48- 39-5-128. Certification of valuation for assessment - repeal.1
	1697	+	(1) (a) No later than August 25 of each year, the assessor shall certify to2
	1698	+	the department of education, to the clerk of each town and city, to the3
	1699	+	secretary of each school district, and to the secretary of each special4
	1700	+	district within the assessor's county the total valuation for assessment of5
	1701	+	all taxable property located within the territorial limits of each such town,6
	1702	+	city, school district, or special district and shall notify each such clerk,7
	1703	+	secretary, and board to officially certify the levy of such town, city,8
	1704	+	school district, or special district to the board of county commissioners no9
	1705	+	later than December 15. The assessor shall also certify to the secretary of10
	1706	+	each school district the actual value of the taxable property in the district.11
	1707	+	(b) (I) F
	1708	+	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY12
	1709	+	1,
	1710	+	2023, THE DEADLINE SET FORTH IN SUBSECTION (1)(a) OF THIS SECTION13
	1711	+	FOR OFFICIALLY CERTIFYING A LEVY IS POSTPONED FROM DECEMBER 15,14
1729	1712		2023,
1730		-	THE DEADLINE SET FORTH IN SUBSECTION (1)(a) OF THIS SECTION IS
1731		-	POSTPONED FROM
1732		-	DECEMBER 22, 2023, TO JANUARY 12, 2024.
	1713	+	TO JANUARY 5, 2024.15
1733	1714		(II) T
1734		-	HIS SUBSECTION (1)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.
1735		-	(5) (a) If, after certification of the valuation for assessment pursuant
1736		-	to section 39-5-128 and notification of total actual value pursuant to section
1737		-	39-5-121 (2)(b) but prior to December 10, changes in such valuation for
1738		-	assessment or total actual value are made by the assessor, the assessor shall
1739		-	PAGE 34-SENATE BILL 23-303 send a single notification to the board of county commissioners or other
1740		-	body authorized by law to levy property taxes, to the division of local
1741		-	government, and to the department of education that includes all of such
1742		-	changes that have occurred during said specified period of time. Upon
1743		-	receipt of such notification, such board or body shall make adjustments in
1744		-	the tax levies to ensure compliance with section 29-1-301, C.R.S.,
1745		-	if
1746		-	applicable, and may make adjustments in order that the same amount of
1747		-	revenue be raised. A copy of any adjustment to tax levies shall be
1748		-	transmitted to the administrator and assessor. Nothing in this subsection (5)
1749		-	shall be construed as conferring the authority to exceed statutorily imposed
1750		-	mill levy or revenue-raising limits.
1751		-	(b) (I) F
1752		-	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
1753		-	2023,
1754		-	THE DEADLINE SET FORTH IN SUBSECTION (5)(a) OF THIS SECTION IS
1755		-	POSTPONED FROM
1756		-	DECEMBER 10, 2023, TO DECEMBER 29, 2023.
1757		-	(II) T
1758		-	HIS SUBSECTION (5)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.
1759		-	SECTION 13. In Colorado Revised Statutes, 39-5-128, amend (1)
1760		-	as follows:
1761		-	39-5-128. Certification of valuation for assessment - repeal.
1762		-	(1) (a) No later than August 25 of each year, the assessor shall certify to the
1763		-	department of education, to the clerk of each town and city, to the secretary
1764		-	of each school district, and to the secretary of each special district within
1765		-	the assessor's county the total valuation for assessment of all taxable
1766		-	property located within the territorial limits of each such town, city, school
1767		-	district, or special district and shall notify each such clerk, secretary, and
1768		-	board to officially certify the levy of such town, city, school district, or
1769		-	special district to the board of county commissioners no later than
1770		-	December 15. The assessor shall also certify to the secretary of each school
1771		-	district the actual value of the taxable property in the district.
1772		-	(b) (I) F
1773		-	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
1774		-	2023,
1775		-	THE DEADLINE SET FORTH IN SUBSECTION (1)(a) OF THIS SECTION FOR
1776		-	OFFICIALLY CERTIFYING A LEVY IS POSTPONED FROM
1777		-	DECEMBER 15, 2023,
1778		-	TO JANUARY 5, 2024.
1779		-	(II) T
1780		-	HIS SUBSECTION (1)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.
1781		-	PAGE 35-SENATE BILL 23-303 SECTION 14. In Colorado Revised Statutes, 39-3-210, amend
1782		-	(1)(a), (1)(e), (3), (4)(b), (5), and (6); repeal and reenact, with
	1715	+	HIS SUBSECTION (1)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.16
	1716	+	SECTION 14. In Colorado Revised Statutes, 39-3-210, amend17
	1717	+	(1)(a), (1)(e), (3), (4)(b), (5), and (6); repeal and reenact, with18
1783	1718		amendments, (2) and (4)(a); and add (1)(a.3), (1)(b.5), (1)(d.5),
1784		-	(1)(e.5),(1)(f.3), (1)(f.7), (2.5), (4.5), and (5.5) as follows:
1785		-	39-3-210. Reporting of property tax revenue reductions -
1786		-	reimbursement of local governmental entities - definitions - local
1787		-	government backfill cash fund - creation - repeal. (1) As used in this
1788		-	section, unless the context otherwise requires:
1789		-	(a) "Additional state revenues" means the lesser of two hundred
1790		-	forty million dollars or the total amount of the state revenues in excess of
1791		-	the limitation on state fiscal year spending imposed by section 20 (7)(a) of
1792		-	article X of the state constitution that the state is required to refund under
1793		-	section 20 (7)(d) of article X of the state constitution, including any amount
1794		-	specified in section 24-77-103.8, that exceeds
1795		-	EXCEED the amounts AMOUNT
1796		-	projected to be refunded as required by sections 39-3-209 and 39-22-627
1797		-	SECTION 39-3-209 for the state fiscal year commencing on July 1, 2022.
	1719	+	19
	1720	+	(1)(e.5),(1)(f.3), (1)(f.7), (2.5), (4.5), and (5.5) as follows:20
	1721	+	39-3-210. Reporting of property tax revenue reductions -21
	1722	+	reimbursement of local governmental entities - definitions - local22
	1723	+	government backfill cash fund - creation - repeal. (1) As used in this23
	1724	+	section, unless the context otherwise requires:24
	1725	+	(a) "Additional state revenues" means the lesser of two hundred25
	1726	+	forty million dollars or the total amount of the state revenues in excess of26
	1727	+	the limitation on state fiscal year spending imposed by section 20 (7)(a)27
	1728	+	303
	1729	+	-49- of article X of the state constitution that the state is required to refund1
	1730	+	under section 20 (7)(d) of article X of the state constitution, including any2
	1731	+	amount specified in section 24-77-103.8, that exceeds EXCEED the3
	1732	+	amounts AMOUNT projected to be refunded as required by sections4
	1733	+	39-3-209 and 39-22-627 SECTION 39-3-209 for the state fiscal year5
	1734	+	commencing on July 1, 2022.6
1798	1735		(a.3) "C
1799		-	OUNTY" INCLUDES A CITY AND COUNTY.
	1736	+	OUNTY" INCLUDES A CITY AND COUNTY.7
1800	1737		(b.5) "F
1801		-	UND" MEANS THE LOCAL GOVERNMENT BACKFILL CASH FUND
1802		-	CREATED IN SUBSECTION
1803		-	(5.5)(a) OF THIS SECTION.
	1738	+	UND" MEANS THE LOCAL GOVERNMENT BACKFILL CASH8
	1739	+	FUND CREATED IN SUBSECTION (5.5)(a) OF THIS SECTION.9
1804	1740		(d.5) "L
1805	1741		OCAL GOVERNMENTAL ENTITY " MEANS A GOVERNMENTAL
1806		-	ENTITY AUTHORIZED BY LAW TO IMPOSE AD VALOREM TAXES ON TAXABLE
1807		-	PROPERTY LOCATED WITHIN ITS TERRITORIAL LIMITS
1808		-	; EXCEPT THAT THE
1809		-	TERM EXCLUDES SCHOOL DISTRICTS
1810		-	.
	1742	+	10
	1743	+	ENTITY AUTHORIZED BY LAW TO IMPOSE AD VALOREM TAXES ON TAXABLE11
	1744	+	PROPERTY LOCATED WITHIN ITS TERRITORIAL LIMITS; EXCEPT THAT THE12
	1745	+	TERM EXCLUDES SCHOOL DISTRICTS .13
1811	1746		(e) "Municipality" means a home rule or statutory city, town,
1812		-	OR
	1747	+	OR14
1813	1748		territorial charter city. or city and county.
1814		-	~~(e.5) "PROPOSITION HH GENERAL FUND EXEMPT ACCOUNT " MEANS~~
1815		-	~~THE PROPOSITION~~
1816		-	HH GENERAL FUND EXEMPT ACCOUNT ~~CREATED IN~~
1817		-	~~SECTION~~
1818		-	24-77-203 (3)(a).
	1749	+	15
	1750	+	(e.5) "P
	1751	+	ROPOSITION HH GENERAL FUND EXEMPT ACCOUNT " MEANS16
	1752	+	THE PROPOSITION HH GENERAL FUND EXEMPT ACCOUNT CREATED IN17
	1753	+	SECTION 24-77-203 (3)(a).18
1819	1754		(f.3) "S
1820		-	ELECT SPECIAL DISTRICT" MEANS A FIRE DISTRICT, HEALTH
1821		-	SERVICE DISTRICT
1822		-	, WATER DISTRICT, SANITATION DISTRICT, OR LIBRARY
1823		-	DISTRICT
1824		-	.
1825		-	PAGE 36-SENATE BILL 23-303 (f.7) "TOTAL PROPERTY TAX REVENUE REDUCTION " MEANS THE
1826		-	AMOUNT THAT A TREASURER CALCULATES FOR A LOCAL GOVERNMENTAL
1827		-	ENTITY IN ACCORDANCE WITH SUBSECTION
1828		-	(2) OF THIS SECTION.
	1755	+	ELECT SPECIAL DISTRICT" MEANS A FIRE DISTRICT, HEALTH19
	1756	+	SERVICE DISTRICT, WATER DISTRICT, SANITATION DISTRICT, OR LIBRARY20
	1757	+	DISTRICT.21
	1758	+	(f.7) "T
	1759	+	OTAL PROPERTY TAX REVENUE REDUCTION " MEANS THE22
	1760	+	AMOUNT THAT A TREASURER CALCULATES FOR A LOCAL GOVERNMENTAL23
	1761	+	ENTITY IN ACCORDANCE WITH SUBSECTION (2) OF THIS SECTION.24
1829	1762		(2) (a) (I) F
1830		-	OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY
1831		-	1, 2023, AND JANUARY 1, 2024, EACH TREASURER SHALL CALCULATE THE
1832		-	TOTAL PROPERTY TAX REVENUE REDUCTION FOR EACH LOCAL
1833		-	GOVERNMENTAL ENTITY WITHIN THE TREASURER
1834		-	'S COUNTY AS A RESULT OF
1835		-	ALL OF THE CUMULATIVE TEMPORARY REDUCTIONS IN VALUATION FOR
1836		-	ASSESSMENT MADE IN
1837		-	SENATE BILL 22-238, ENACTED IN 2022, AND SENATE
1838		-	BILL 23-303.
	1763	+	OR THE PROPERTY TAX YEARS COMMENCING ON25
	1764	+	J
	1765	+	ANUARY 1, 2023, AND JANUARY 1, 2024, EACH TREASURER SHALL26
	1766	+	CALCULATE THE TOTAL PROPERTY TAX REVENUE REDUCTION FOR EACH27
	1767	+	303
	1768	+	-50- LOCAL GOVERNMENTAL ENTITY WITHIN THE TREASURER'S COUNTY AS A1
	1769	+	RESULT OF ALL OF THE CUMULATIVE TEMPORARY REDUCTIONS IN2
	1770	+	VALUATION FOR ASSESSMENT MADE IN SENATE BILL 22-238, ENACTED IN3
	1771	+	2022,
	1772	+	AND THIS SENATE BILL 23-____. 4
1839	1773		(II) F
1840		-	OR THE PROPERTY TAX YEARS COMMENCING ON AND ~~AFTER~~
1841		-	~~JANUARY 1, 2025, BUT BEFORE JANUARY 1, 2033, EACH TREASURER SHALL~~
1842		-	~~CALCULATE THE TOTAL PROPERTY TAX REVENUE REDUCTION FOR~~ EACH
1843		-	~~LOCAL GOVERNMENTAL ENTITY WITHIN~~ THE ~~TREASURER~~
1844		-	~~'S COUNTY AS A~~
1845		-	~~RESULT OF ALL OF~~ THE ~~TEMPORARY REDUCTIONS IN VALUATION FOR~~
1846		-	~~ASSESSMENT MADE~~ IN
1847		-	SENATE BILL 23-~~303~~.
	1774	+	OR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER5
	1775	+	J
	1776	+	ANUARY 1, 2025, BUT BEFORE JANUARY 1, 2033, EACH TREASURER SHALL6
	1777	+	CALCULATE THE TOTAL PROPERTY TAX REVENUE REDUCTION FOR EACH7
	1778	+	LOCAL GOVERNMENTAL
	1779	+	ENTITY WITHIN THE TREASURER'S COUNTY AS A8
	1780	+	RESULT OF ALL OF THE TEMPORARY REDUCTIONS IN VALUATION FOR9
	1781	+	ASSESSMENT MADE IN THIS SENATE BILL 23-____.10
1848	1782		(b) (I) W
1849		-	HEN CALCULATING THE TOTAL PROPERTY TAX REVENUE
1850		-	REDUCTION FOR A LOCAL GOVERNMENTAL ENTITY FOR A PROPERTY TAX
1851		-	YEAR AS REQUIRED BY THIS SECTION
1852		-	, A TREASURER SHALL USE THE LOCAL
1853		-	GOVERNMENTAL ENTITY
1854		-	'S MILL LEVY FOR THE PROPERTY TAX YEAR
1855		-	COMMENCING ON
1856		-	JANUARY 1, 2022, EXCLUDING ANY MILLS LEVIED TO
1857		-	PROVIDE FOR THE PAYMENT OF BONDS AND INTEREST THEREON OR FOR THE
1858		-	PAYMENT OF ANY OTHER CONTRACTUAL OBLIGATION THAT HAS BEEN
1859		-	APPROVED BY A MAJORITY OF THE LOCAL GOVERNMENTAL ENTITY
1860		-	'S VOTERS
1861		-	VOTING THEREON
1862		-	.
	1783	+	HEN CALCULATING THE TOTAL PROPERTY TAX REVENUE11
	1784	+	REDUCTION FOR A LOCAL GOVERNMENTAL ENTITY FOR A PROPERTY TAX12
	1785	+	YEAR AS REQUIRED BY THIS SECTION, A TREASURER SHALL USE THE LOCAL13
	1786	+	GOVERNMENTAL ENTITY 'S MILL LEVY FOR THE PROPERTY TAX YEAR14
	1787	+	COMMENCING ON JANUARY 1, 2022, EXCLUDING ANY MILLS LEVIED TO15
	1788	+	PROVIDE FOR THE PAYMENT OF BONDS AND INTEREST THEREON OR FOR16
	1789	+	THE PAYMENT OF ANY OTHER CONTRACTUAL OBLIGATION THAT HAS BEEN17
	1790	+	APPROVED BY A MAJORITY OF THE
	1791	+	LOCAL GOVERNMENTAL ENTITY'S18
	1792	+	VOTERS VOTING THEREON.19
1863	1793		(II) N
1864		-	OTWITHSTANDING SUBSECTION (2)(a) OF THIS SECTION, A
1865		-	TREASURER IS NOT REQUIRED TO DETERMINE THE TOTAL PROPERTY ~~TAX~~
1866		-	REVENUE REDUCTION FOR A LOCAL GOVERNMENTAL ENTITY THAT IS
1867		-	INELIGIBLE TO RECEIVE A REIMBURSEMENT FROM THE STATE FOR A
	1794	+	OTWITHSTANDING SUBSECTION (2)(a) OF THIS SECTION, A20
	1795	+	TREASURER IS NOT REQUIRED TO DETERMINE THE TOTAL PROPERTY TAX21
	1796	+	REVENUE REDUCTION FOR A LOCAL GOVERNMENTAL ENTITY THAT IS22
	1797	+	INELIGIBLE TO RECEIVE A REIMBURSEMENT FROM THE STATE FOR A23
1868	1798		PROPERTY TAX YEAR IN ACCORDANCE WITH SUBSECTION
1869		-	(4.5)(b)(I)(B) OF
1870		-	THIS SECTION
1871		-	.
	1799	+	(4.5)(b)(I)(B) OF24
	1800	+	THIS SECTION.25
1872	1801		(c) (I) F
1873		-	OR THE PROPERTY TAX YEARS COMMENCING ON AND ~~AFTER~~
1874		-	~~JANUARY 1, 2023, BUT BEFORE JANUARY 1, 2033, EACH ASSESSOR SHALL~~
1875		-	~~CALCULATE THE DIFFERENCE IN ASSESSED VALUE OF REAL PROPERTY FOR~~
1876		-	~~EACH LOCAL GOVERNMENTAL ENTITY WITHIN THE ASSESSOR~~
1877		-	~~'S COUNTY FOR~~
1878		-	~~PAGE 37-SENATE~~ ~~BILL 23-303~~ THE ~~PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2022, AND THE~~
1879		-	PROPERTY TAX YEAR
1880		-	.
	1802	+	OR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER26
	1803	+	J
	1804	+	ANUARY 1, 2023, BUT BEFORE JANUARY 1, 2033, EACH ASSESSOR SHALL27
	1805	+	303
	1806	+	-51- CALCULATE THE DIFFERENCE IN ASSESSED VALUE OF REAL PROPERTY FOR1
	1807	+	EACH LOCAL GOVERNMENTAL ENTITY WITHIN THE ASSESSOR 'S COUNTY2
	1808	+	FOR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2022, AND3
	1809	+	THE PROPERTY TAX YEAR.4
1881	1810		(II) N
1882		-	OTWITHSTANDING SUBSECTION (2)(c)(I) OF THIS SECTION, AN
1883		-	ASSESSOR IS NOT REQUIRED TO CALCULATE THE DIFFERENCE IN ASSESSED
1884		-	VALUE OF REAL PROPERTY FOR A LOCAL GOVERNMENTAL ENTITY
1885		-	,
1886		-	EXCLUDING A COUNTY, THAT IS INELIGIBLE TO RECEIVE A REIMBURSEMENT
1887		-	FROM THE STATE FOR A PROPERTY TAX YEAR IN ACCORDANCE WITH
	1811	+	OTWITHSTANDING SUBSECTION (2)(c)(I) OF THIS SECTION, AN5
	1812	+	ASSESSOR IS NOT REQUIRED TO CALCULATE THE DIFFERENCE IN ASSESSED6
	1813	+	VALUE OF REAL PROPERTY FOR A LOCAL GOVERNMENTAL ENTITY ,7
	1814	+	EXCLUDING A COUNTY, THAT IS INELIGIBLE TO RECEIVE A REIMBURSEMENT8
	1815	+	FROM THE STATE FOR A PROPERTY TAX YEAR IN ACCORDANCE WITH9
1888	1816		SUBSECTION
1889		-	(4.5)(b)(I)(B) OF THIS SECTION.
	1817	+	(4.5)(b)(I)(B) OF THIS SECTION.10
1890	1818		(d) F
1891		-	OR PURPOSES OF THIS SECTION , A LOCAL GOVERNMENTAL
1892		-	ENTITY WITHIN A COUNTY INCLUDES THE COUNTY ITSELF
1893		-	.
	1819	+	OR PURPOSES OF THIS SECTION, A LOCAL GOVERNMENTAL11
	1820	+	ENTITY WITHIN A COUNTY INCLUDES THE COUNTY ITSELF .12
1894	1821		(2.5) (a) O
1895		-	N OR BEFORE SEPTEMBER 15, 2023, EACH TREASURER
1896		-	SHALL REPORT THE FOLLOWING ESTIMATES TO THE ADMINISTRATOR FOR ALL
1897		-	LOCAL GOVERNMENTAL ENTITIES WITHIN THE TREASURER
1898		-	'S COUNTY:
	1822	+	N OR BEFORE SEPTEMBER 15, 2023, EACH TREASURER13
	1823	+	SHALL REPORT THE FOLLOWING ESTIMATES TO THE ADMINISTRATOR FOR14
	1824	+	ALL LOCAL GOVERNMENTAL ENTITIES WITHIN THE TREASURER 'S COUNTY:15
1899	1825		(I) T
1900		-	HE TOTAL PROPERTY TAX REVENUE REDUCTION FOR THE
1901		-	PROPERTY TAX YEAR COMMENCING ON
1902		-	JANUARY 1, 2023, THAT IS BASED ON
1903		-	THE
1904		-	:
	1826	+	HE TOTAL PROPERTY TAX REVENUE REDUCTION FOR THE16
	1827	+	PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2023, THAT IS BASED17
	1828	+	ON THE:18
1905	1829		(A) T
1906		-	EMPORARY REDUCTIONS IN THE VALUATION FOR ASSESSMENT
1907		-	MADE IN
1908		-	SENATE BILL 22-238, ENACTED IN 2022; AND
1909		-	(B) CUMULATIVE TEMPORARY REDUCTIONS IN THE VALUATION FOR
1910		-	ASSESSMENT MADE IN
1911		-	SENATE BILL 22-238, ENACTED IN 2022, AND SENATE
1912		-	BILL 23-303, IF A MAJORITY OF VOTERS APPROVE THE BALLOT ISSUE
1913		-	REFERRED IN ACCORDANCE WITH SECTION
1914		-	24-77-202; AND
1915		-	(II) THE INCREASE IN ASSESSED VALUE FROM THE PROPERTY TAX
1916		-	YEAR COMMENCING ON
1917		-	JANUARY 1, 2022, TO THE PROPERTY TAX YEAR
1918		-	COMMENCING ON
1919		-	JANUARY 1, 2023, THAT IS BASED ON THE:
	1830	+	EMPORARY REDUCTIONS IN THE VALUATION FOR ASSESSMENT19
	1831	+	MADE IN SENATE BILL 22-238, ENACTED IN 2022; AND20
	1832	+	(B) C
	1833	+	UMULATIVE TEMPORARY REDUCTIONS IN THE VALUATION21
	1834	+	FOR ASSESSMENT MADE IN SENATE BILL 22-238, ENACTED IN 2022, AND22
	1835	+	THIS SENATE BILL 23-_____, IF A MAJORITY OF VOTERS APPROVE THE23
	1836	+	BALLOT ISSUE REFERRED IN ACCORDANCE WITH SECTION 24-77-202; AND 24
	1837	+	(II)
	1838	+	THE INCREASE IN ASSESSED VALUE FROM THE PROPERTY TAX25
	1839	+	YEAR COMMENCING ON JANUARY 1, 2022, TO THE PROPERTY TAX YEAR26
	1840	+	COMMENCING ON JANUARY 1, 2023, THAT IS BASED ON THE:27
	1841	+	303
	1842	+	-52- (A) TEMPORARY REDUCTIONS IN THE VALUATION FOR ASSESSMENT1
	1843	+	MADE IN SENATE BILL 22-238, ENACTED IN 2022; AND2
	1844	+	(B) C
	1845	+	UMULATIVE TEMPORARY REDUCTIONS IN THE VALUATION3
	1846	+	FOR ASSESSMENT MADE IN SENATE BILL 22-238, ENACTED IN 2022, AND4
	1847	+	THIS SENATE BILL 23-_____, IF A MAJORITY OF VOTERS APPROVE THE5
	1848	+	BALLOT ISSUE REFERRED IN ACCORDANCE WITH SECTION 24-77-202.6
	1849	+	(b) T
	1850	+	HE ADMINISTRATOR SHALL PROVIDE THE ESTIMATES7
	1851	+	RECEIVED IN ACCORDANCE WITH SUBSECTION (2.5)(a) OF THIS SECTION TO8
	1852	+	THE DEPARTMENT OF REVENUE AND LEGISLATIVE COUNCIL STAFF .9
	1853	+	(3) No later than March 1, 2024, each
	1854	+	AND MARCH 1 OF THE NEXT10
	1855	+	NINE YEARS THEREAFTER, A treasurer shall report the amounts specified11
	1856	+	in subsection (2) of this section, as applicable and the basis for the12
	1857	+	amounts to the administrator. and The administrator may require a13
	1858	+	treasurer to provide additional information as necessary to evaluate the14
	1859	+	accuracy of the amounts reported. The administrator shall confirm that the15
	1860	+	reported amounts are correct or rectify the amounts, if necessary. The16
	1861	+	administrator shall then forward the correct amounts for each A county to17
	1862	+	the state treasurer to enable the state treasurer to issue a reimbursement18
	1863	+	warrant to each A treasurer in accordance with subsection (4) of this19
	1864	+	section.20
	1865	+	(4) (a) (I) N
	1866	+	O LATER THAN APRIL 15, 2024, THE STATE TREASURER21
	1867	+	SHALL ISSUE A WARRANT, TO BE PAID UPON DEMAND FROM ADDITIONAL22
	1868	+	STATE REVENUES FOR THE STATE FISCAL YEAR COMMENCING ON JULY 1,23
	1869	+	2022,
	1870	+	AND, IF NECESSARY, FROM OTHER MONEY IN THE GENERAL FUND , TO24
	1871	+	EACH TREASURER THAT IS EQUAL TO THE TOTAL REIMBURSEMENT25
	1872	+	AMOUNTS SET FORTH IN SUBSECTION (4.5) OF THIS SECTION FOR ALL26
	1873	+	LOCAL GOVERNMENTAL ENTITIES WITHIN THE TREASURER 'S COUNTY FOR27
	1874	+	303
	1875	+	-53- THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2023. 1
	1876	+	(II) N
	1877	+	O LATER THAN APRIL 15, 2025, AND APRIL 15 OF THE NEXT2
	1878	+	EIGHT YEARS THEREAFTER , THE STATE TREASURER SHALL ISSUE A3
	1879	+	WARRANT, TO BE PAID UPON DEMAND FIRST FROM THE FUND , AND, IF4
	1880	+	NECESSARY, FROM STATE REVENUES IN THE PROPOSITION HH GENERAL5
	1881	+	FUND EXEMPT
	1882	+	ACCOUNT, TO EACH TREASURER THAT IS EQUAL TO THE6
	1883	+	TOTAL REIMBURSEMENT AMOUNTS SET FORTH IN SUBSECTION (4.5) OF7
	1884	+	THIS SECTION FOR ALL LOCAL GOVERNMENTAL ENTITIES WITHIN THE8
	1885	+	TREASURER'S COUNTY FOR THE PRIOR PROPERTY TAX YEAR .9
	1886	+	(b) Each treasurer shall distribute the total amount received from10
	1887	+	the state treasurer to the local governmental entities, excluding school11
	1888	+	districts, within the treasurer's county as if the revenues had been12
	1889	+	regularly paid as property tax, but so that the local governmental entities13
	1890	+	only receive the amounts determined pursuant to subsection (4)(a) of this14
	1891	+	section. 15
	1892	+	(4.5) (a) E
	1893	+	XCEPT AS SET FORTH IN SUBSECTIONS
	1894	+	(4.5)(b), (4.5)(c),16
	1895	+	AND (4.5)(d) OF THIS SECTION, THE REIMBURSEMENT FOR A LOCAL17
	1896	+	GOVERNMENTAL ENTITY FOR A PROPERTY TAX YEAR COMMENCING ON OR18
	1897	+	AFTER JANUARY 1, 2023, BUT BEFORE JANUARY 1, 2033, IS EQUAL TO:19
	1898	+	(I) F
	1899	+	OR COUNTIES WITH A POPULATION THAT IS THREE HUNDRED20
	1900	+	THOUSAND OR LESS:21
1920	1901		(A) T
1921		-	EMPORARY REDUCTIONS IN THE VALUATION FOR ASSESSMENT
1922		-	MADE IN
1923		-	SENATE BILL 22-238, ENACTED IN 2022; AND
1924		-	(B) CUMULATIVE TEMPORARY REDUCTIONS IN THE VALUATION FOR
1925		-	ASSESSMENT MADE IN
1926		-	SENATE BILL 22-238, ENACTED IN 2022, AND SENATE
1927		-	BILL 23-303, IF A MAJORITY OF VOTERS APPROVE THE BALLOT ISSUE
1928		-	REFERRED IN ACCORDANCE WITH SECTION
1929		-	24-77-202.
1930		-	PAGE 38-SENATE BILL 23-303 (b) THE ADMINISTRATOR SHALL PROVIDE THE ESTIMATES RECEIVED
1931		-	IN ACCORDANCE WITH SUBSECTION
1932		-	(2.5)(a) OF THIS SECTION TO THE
1933		-	DEPARTMENT OF REVENUE AND LEGISLATIVE COUNCIL STAFF
1934		-	.
1935		-	(3) No later than March 1, 2024, each
1936		-	AND MARCH 1 OF THE NEXT
1937		-	NINE YEARS THEREAFTER
1938		-	, A treasurer shall report the amounts specified in
1939		-	subsection (2) of this section, as applicable and the basis for the amounts to
1940		-	the administrator. and
1941		-	The administrator may require a treasurer to provide
1942		-	additional information as necessary to evaluate the accuracy of the amounts
1943		-	reported. The administrator shall confirm that the reported amounts are
1944		-	correct or rectify the amounts, if necessary. The administrator shall then
1945		-	forward the correct amounts for each
1946		-	A county to the state treasurer to
1947		-	enable the state treasurer to issue a reimbursement warrant to each A
1948		-	treasurer in accordance with subsection (4) of this section.
1949		-	(4) (a) (I) N
1950		-	O LATER THAN APRIL 15, 2024, THE STATE TREASURER
1951		-	SHALL ISSUE A WARRANT
1952		-	, TO BE PAID UPON DEMAND FROM ADDITIONAL
1953		-	STATE REVENUES FOR THE STATE FISCAL YEAR COMMENCING ON
1954		-	JULY 1,
	1902	+	HE ENTIRE AMOUNT OF THE TOTAL PROPERTY TAX REVENUE22
	1903	+	REDUCTION FOR EACH LOCAL GOVERNMENTAL ENTITY WITHIN A COUNTY23
	1904	+	THAT HAD AN INCREASE OF LESS THAN TEN PERCENT IN THE ASSESSED24
	1905	+	VALUE OF REAL PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING25
	1906	+	ON JANUARY 1, 2022, TO THE PROPERTY TAX YEAR FOR WHICH THE26
	1907	+	REIMBURSEMENT IS BEING CALCULATED ; AND27
	1908	+	303
	1909	+	-54- (B) NINETY PERCENT OF THE TOTAL PROPERTY TAX REVENUE1
	1910	+	REDUCTION FOR EACH LOCAL GOVERNMENTAL ENTITY THAT HAD AN2
	1911	+	INCREASE OF TEN PERCENT OR MORE IN THE ASSESSED VALUE OF REAL3
	1912	+	PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,4
1955	1913		2022,
1956		-	AND, IF NECESSARY, FROM OTHER MONEY IN THE GENERAL FUND , TO
1957		-	EACH TREASURER THAT IS EQUAL TO THE TOTAL REIMBURSEMENT AMOUNTS
1958		-	SET FORTH IN SUBSECTION
1959		-	(4.5) OF THIS SECTION FOR ALL LOCAL
1960		-	GOVERNMENTAL ENTITIES WITHIN THE TREASURER
1961		-	'S COUNTY FOR THE
1962		-	PROPERTY TAX YEAR COMMENCING ON
1963		-	JANUARY 1, 2023.
1964		-	(II) N
1965		-	O LATER THAN APRIL 15, 2025, AND APRIL 15 OF THE NEXT
1966		-	EIGHT YEARS THEREAFTER
1967		-	, THE STATE TREASURER SHALL ISSUE A WARRANT,
1968		-	TO BE PAID UPON DEMAND FIRST FROM THE FUND , AND, IF NECESSARY, FROM
1969		-	STATE REVENUES IN THE PROPOSITION
1970		-	HH GENERAL FUND EXEMPT
1971		-	ACCOUNT
1972		-	, TO EACH TREASURER THAT IS EQUAL TO THE TOTAL
1973		-	REIMBURSEMENT AMOUNTS SET FORTH IN SUBSECTION
1974		-	(4.5) OF THIS SECTION
1975		-	FOR ALL LOCAL GOVERNMENTAL ENTITIES WITHIN THE TREASURER
1976		-	'S COUNTY
1977		-	FOR THE PRIOR PROPERTY TAX YEAR
1978		-	.
1979		-	(b) Each treasurer shall distribute the total amount received from the
1980		-	state treasurer to the local governmental entities, excluding school districts,
1981		-	within the treasurer's county as if the revenues had been regularly paid as
1982		-	property tax, but so that the local governmental entities only receive the
1983		-	amounts determined pursuant to subsection (4)(a) of
1984		-	this section.
1985		-	(4.5) (a) E
1986		-	XCEPT AS SET FORTH IN SUBSECTIONS (4.5)(b), (4.5)(c),
1987		-	PAGE 39-SENATE BILL 23-303 AND (4.5)(d) OF THIS SECTION, THE REIMBURSEMENT FOR A LOCAL
1988		-	GOVERNMENTAL ENTITY FOR A PROPERTY TAX YEAR COMMENCING ON OR
1989		-	AFTER
1990		-	JANUARY 1, 2023, BUT BEFORE JANUARY 1, 2033, IS EQUAL TO:
1991		-	(I) F
1992		-	OR COUNTIES WITH A POPULATION THAT IS THREE HUNDRED
1993		-	THOUSAND OR LESS
1994		-	:
	1914	+	TO THE PROPERTY TAX YEAR FOR WHICH THE REIMBURSEMENT IS5
	1915	+	BEING CALCULATED;6
	1916	+	(II) F
	1917	+	OR COUNTIES WITH A POPULATION GREATER T HAN THREE7
	1918	+	HUNDRED THOUSAND :8
1995	1919		(A) T
1996		-	HE ENTIRE AMOUNT OF THE TOTAL PROPERTY TAX REVENUE
1997		-	REDUCTION FOR EACH LOCAL GOVERNMENTAL ENTITY WITHIN A COUNTY
1998		-	THAT HAD AN INCREASE OF LESS THAN TEN PERCENT IN THE ASSESSED VALUE
1999		-	OF REAL PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON
2000		-	JANUARY 1, 2022, TO THE PROPERTY TAX YEAR FOR WHICH THE
2001		-	REIMBURSEMENT IS BEING CALCULATED
2002		-	; AND
2003		-	(B) NINETY PERCENT OF THE TOTAL PROPERTY TAX REVENUE
2004		-	REDUCTION FOR EACH LOCAL GOVERNMENTAL ENTITY THAT HAD AN
2005		-	INCREASE OF TEN PERCENT OR MORE IN THE ASSESSED VALUE OF REAL
2006		-	PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON
2007		-	JANUARY 1,
2008		-	2022,
2009		-	TO THE PROPERTY TAX YEAR FOR WHICH THE REIMBURSEMENT IS
2010		-	BEING CALCULATED
2011		-	;
2012		-	(II) F
2013		-	OR COUNTIES WITH A POPULATION GREATER THAN THREE
2014		-	HUNDRED THOUSAND
2015		-	:
2016		-	(A) T
2017		-	HE ENTIRE AMOUNT OF THE TOTAL PROPERTY TAX REVENUE
2018		-	REDUCTION FOR EACH MUNICIPALITY OR SELECT SPECIAL DISTRICT THAT HAD
2019		-	AN INCREASE OF LESS THAN TEN PERCENT IN THE ASSESSED VALUE OF REAL
2020		-	PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON
2021		-	JANUARY 1,
2022		-	2022,
2023		-	TO THE PROPERTY TAX YEAR FOR WHICH THE REIMBURSEMENT IS
2024		-	BEING CALCULATED
2025		-	;
	1920	+	HE ENTIRE AMOUNT OF THE TOTAL PROPERTY TAX REVENUE9
	1921	+	REDUCTION FOR EACH MUNICIPALITY OR SELECT SPECIAL DISTRICT THAT10
	1922	+	HAD AN INCREASE OF LESS THAN TEN PERCENT IN THE ASSESSED VALUE OF11
	1923	+	REAL PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON12
	1924	+	J
	1925	+	ANUARY 1, 2022, TO THE PROPERTY TAX YEAR FOR WHICH THE13
	1926	+	REIMBURSEMENT IS BEING CALCULATED ;14
2026	1927		(B) N
2027		-	INETY PERCENT OF THE TOTAL PROPERTY TAX REVENUE
2028		-	REDUCTION FOR EACH MUNICIPALITY OR SELECT SPECIAL DISTRICT THAT HAD
2029		-	AN INCREASE OF TEN PERCENT OR MORE IN THE ASSESSED VALUE OF REAL
2030		-	PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON
2031		-	JANUARY 1,
2032		-	2022,
2033		-	TO THE PROPERTY TAX YEAR FOR WHICH THE REIMBURSEMENT IS
2034		-	BEING CALCULATED
2035		-	; AND
2036		-	(C) SIXTY-FIVE PERCENT OF THE TOTAL PROPERTY TAX REVENUE
2037		-	REDUCTION FOR ALL LOCAL GOVERNMENTAL ENTITIES BESIDES A
2038		-	PAGE 40-SENATE BILL 23-303 MUNICIPALITY OR A SELECT SPECIAL DISTRICT.
2039		-	(b) (I) E
2040		-	XCEPT AS SET FORTH IN SUBSECTION (4.5)(b)(II) OF THIS
2041		-	SECTION
2042		-	, FOR PROPERTY TAX YEARS COMMENCING ON AND AFTER JANUARY
2043		-	1, 2024, A LOCAL GOVERNMENTAL ENTITY IS INELIGIBLE TO RECEIVE
2044		-	REIMBURSEMENT UNDER THIS SECTION IF
2045		-	:
2046		-	(A) T
2047		-	HE LOCAL GOVERNMENTAL ENTITY HAS AN INCREASE OF
2048		-	TWENTY PERCENT OR MORE IN THE ASSESSED VALUE OF REAL PROPERTY
2049		-	FROM THE PROPERTY TAX YEAR COMMENCING ON
2050		-	JANUARY 1, 2022, TO THE
2051		-	PROPERTY TAX YEAR FOR WHICH A REIMBURSEMENT AMOUNT IS
2052		-	CALCULATED
2053		-	; OR
2054		-	(B) THE LOCAL GOVERNMENTAL ENTITY IS WITHIN A COUNTY THAT
2055		-	HAS A POPULATION GREATER THAN THREE HUNDRED THOUSAND AND WAS
2056		-	INELIGIBLE TO RECEIVE A REIMBURSEMENT UNDER SUBSECTION
2057		-	(4.5)(b)(I)(A) OF THIS SECTION FOR A PRIOR PROPERTY TAX YEAR .
2058		-	(II) T
2059		-	HE REIMBURSEMENT FOR A FIRE DISTRICT , HEALTH SERVICE
2060		-	DISTRICT
2061		-	, OR AMBULANCE DISTRICT THAT WOULD OTHERWISE BE INELIGIBLE
2062		-	TO RECEIVE A REIMBURSEMENT BASED ON SUBSECTION
2063		-	(4.5)(b)(I) OF THIS
2064		-	SECTION IS EQUAL TO FIFTY PERCENT OF THE DISTRICT
2065		-	'S TOTAL PROPERTY
2066		-	TAX REVENUE REDUCTION FOR THE PROPERTY TAX YEAR
2067		-	.
2068		-	(c) (I) F
2069		-	OR A PROPERTY TAX YEAR COMMENCING ON OR AFTER
2070		-	JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2033, THE TOTAL OF ALL
2071		-	REIMBURSEMENTS STATEWIDE UNDER THIS SECTION SHALL NOT EXCEED THE
2072		-	TOTAL OF THE AMOUNT IN THE FUND AND AN AMOUNT EQUAL TO TWENTY
2073		-	PERCENT OF THE AMOUNT IN THE PROPOSITION
2074		-	HH GENERAL FUND EXEMPT
2075		-	ACCOUNT AS OF THE DATE THAT THE TREASURER IS MAKING THE
2076		-	REIMBURSEMENTS
2077		-	.
	1928	+	INETY PERCENT OF THE TOTAL PROPERTY TAX REVENUE15
	1929	+	REDUCTION FOR EACH MUNICIPALITY OR SELECT SPECIAL DISTRICT THAT16
	1930	+	HAD AN INCREASE OF TEN PERCENT OR MORE IN THE ASSESSED VALUE OF17
	1931	+	REAL PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON18
	1932	+	J
	1933	+	ANUARY 1, 2022, TO THE PROPERTY TAX YEAR FOR WHICH THE19
	1934	+	REIMBURSEMENT IS BEING CALCULATED ; AND20
	1935	+	(C) S
	1936	+	IXTY-FIVE PERCENT OF THE TOTAL PROPERTY TAX REVENUE21
	1937	+	REDUCTION FOR ALL LOCAL GOVERNMENTAL ENTITIES BESIDES A22
	1938	+	MUNICIPALITY OR A SELECT SPECIAL DISTRICT.23
	1939	+	(b) (I) EXCEPT AS SET FORTH IN SUBSECTION (4.5)(b)(II) OF THIS24
	1940	+	SECTION, FOR PROPERTY TAX YEARS COMMENCING ON AND AFTER25
	1941	+	J
	1942	+	ANUARY 1, 2024, A LOCAL GOVERNMENTAL ENTITY IS INELIGIBLE TO26
	1943	+	RECEIVE REIMBURSEMENT UNDER THIS SECTION IF :27
	1944	+	303
	1945	+	-55- (A) THE LOCAL GOVERNMENTAL ENTITY HAS AN INCREASE OF1
	1946	+	TWENTY PERCENT OR MORE IN THE ASSESSED VALUE OF REAL PROPERTY2
	1947	+	FROM THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2022, TO3
	1948	+	THE PROPERTY TAX YEAR FOR WHICH A REIMBURSEMENT AMOUNT IS4
	1949	+	CALCULATED; OR5
	1950	+	(B) THE LOCAL GOVERNMENTAL ENTITY IS WITHIN A COUNTY THAT6
	1951	+	HAS A POPULATION GREATER THAN THREE HUNDRED THOUSAND AND WAS7
	1952	+	INELIGIBLE TO RECEIVE A REIMBURSEMENT UNDER SUBSECTION8
	1953	+	(4.5)(b)(I)(A) OF THIS SECTION FOR A PRIOR PROPERTY TAX YEAR .9
	1954	+	(II) THE REIMBURSEMENT FOR A FIRE DISTRICT, HEALTH SERVICE10
	1955	+	DISTRICT, OR AMBULANCE DISTRICT THAT WOULD OTHERWISE BE11
	1956	+	INELIGIBLE TO RECEIVE A REIMBURSEMENT BASED ON SUBSECTION12
	1957	+	(4.5)(b)(I) OF THIS SECTION IS EQUAL TO FIFTY PERCENT OF THE DISTRICT'S13
	1958	+	TOTAL PROPERTY TAX REVENUE REDUCTION FOR THE PROPERTY TAX YEAR .14
	1959	+	(c) (I) FOR A PROPERTY TAX YEAR COMMENCING ON OR AFTER15
	1960	+	JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2033, THE TOTAL OF ALL16
	1961	+	REIMBURSEMENTS STATEWIDE UNDER THIS SECTION SHALL NOT EXCEED17
	1962	+	THE TOTAL OF THE AMOUNT IN THE FUND AND AN AMOUNT EQUAL TO18
	1963	+	TWENTY PERCENT OF THE AMOUNT IN THE PROPOSITION HH GENERAL19
	1964	+	FUND EXEMPT ACCOUNT AS OF THE DATE THAT THE TREASURER IS MAKING20
	1965	+	THE REIMBURSEMENTS.21
2078	1966		(II) I
2079	1967		F THE TOTAL OF ALL REIMBURSEMENTS STATEWIDE WOULD
2080		-	OTHERWISE EXCEED THE LIMIT SET FORTH IN SUBSECTION
2081		-	(4.5)(c)(I) OF THIS
2082		-	SECTION FOR A PROPERTY TAX YEAR
2083		-	, THE STATE TREASURER SHALL PROVIDE
2084		-	THE REIMBURSEMENTS OTHERWISE SPECIFIED IN THIS SUBSECTION
2085		-	(4.5) TO
2086		-	ALL FIRE DISTRICTS
2087		-	, HEALTH SERVICE DISTRICTS , AND AMBULANCE
2088		-	DISTRICTS AND THEN PROPORTIONALLY REDUCE THE REIMBURSEMENT
2089		-	AMOUNT FOR ALL OTHER LOCAL GOVERNMENTAL ENTITIES SO THAT THE
2090		-	TOTAL OF ALL REIMBURSEMENTS STATEWIDE
2091		-	, INCLUDING THE
2092		-	PAGE 41-SENATE BILL 23-303 REIMBURSEMENT AMOUNTS FOR ALL FIRE DISTRICTS , HEALTH SERVICE
2093		-	DISTRICTS
2094		-	, AND AMBULANCE DISTRICTS , EQUALS THE LIMIT FOR THE
2095		-	PROPERTY TAX YEAR
2096		-	.
	1968	+	22
	1969	+	OTHERWISE EXCEED THE LIMIT SET FORTH IN SUBSECTION (4.5)(c)(I) OF23
	1970	+	THIS SECTION FOR A PROPERTY TAX YEAR, THE STATE TREASURER SHALL24
	1971	+	PROVIDE THE REIMBURSEMENTS OTHERWISE SPECIFIED IN THIS SUBSECTION25
	1972	+	(4.5) TO ALL FIRE DISTRICTS, HEALTH SERVICE DISTRICTS, AND26
	1973	+	AMBULANCE DISTRICTS AND THEN PROPORTIONALLY REDUCE THE27
	1974	+	303
	1975	+	-56- REIMBURSEMENT AMOUNT FOR ALL OTHER LOCAL GOVERNMENTAL1
	1976	+	ENTITIES SO THAT THE TOTAL OF ALL REIMBURSEMENTS STATEWIDE,2
	1977	+	INCLUDING THE REIMBURSEMENT AMOUNTS FOR ALL FIRE DISTRICTS ,3
	1978	+	HEALTH SERVICE DISTRICTS, AND AMBULANCE DISTRICTS, EQUALS THE4
	1979	+	LIMIT FOR THE PROPERTY TAX YEAR.5
2097	1980		(III) T
2098	1981		HE STATE TREASURER SHALL REDUCE A LOCAL
2099		-	GOVERNMENTAL ENTITY
2100		-	'S REIMBURSEMENT AS NECESSARY TO AVOID THE
2101		-	LOCAL GOVERNMENTAL ENTITY EXCEEDING ITS FISCAL YEAR SPENDING LIMIT
2102		-	UNDER SECTION
2103		-	20 (7)(b) OF ARTICLE X OF THE STATE CONSTITUTION FOR
2104		-	THE FISCAL YEAR
2105		-	.
2106		-	(d) I
2107		-	F A LOCAL GOVERNMENTAL ENTITY HAS AN INCREASE OF
2108		-	TWENTY PERCENT OR MORE IN THE ASSESSED VALUE OF REAL PROPERTY
2109		-	FROM THE PROPERTY TAX YEAR COMMENCING ON
2110		-	JANUARY 1, 2022, TO THE
2111		-	PROPERTY TAX YEAR COMMENCING ON
2112		-	JANUARY 1, 2023, THEN, FOR THE
2113		-	REIMBURSEMENT FOR THE PROPERTY TAX YEAR COMMENCING ON
2114		-	JANUARY
2115		-	1, 2023, THE LOCAL GOVERNMENTAL ENTITY 'S TOTAL PROPERTY TAX
2116		-	REVENUE REDUCTION IS BASED ONLY ON THE TEMPORARY REDUCTIONS IN
2117		-	VALUATION FOR ASSESSMENT MADE IN
2118		-	SENATE BILL 22-238, ENACTED IN
2119		-	2022.
2120		-	(e) T
2121		-	HE REIMBURSEMENT AMOUNTS SET FORTH IN THIS SECTION ARE
2122		-	BASED ON THE AMOUNTS THAT THE ADMINISTRATOR REPORTS TO THE
2123		-	TREASURER IN ACCORDANCE WITH SUBSECTION
2124		-	(3) OF THIS SECTION. FOR
2125		-	PURPOSES OF THIS SUBSECTION
2126		-	(4.5), POPULATION IS DETERMINED PURSUANT
2127		-	TO THE MOST RECENTLY PUBLISHED POPULATION ESTIMATES FROM THE
2128		-	STATE DEMOGRAPHER APPOINTED BY THE EXECUTIVE DIRECTOR OF THE
2129		-	DEPARTMENT OF LOCAL AFFAIRS
2130		-	.
2131		-	(f) I
2132		-	F A LOCAL GOVERNMENTAL ENTITY IS LOCATED IN MORE THAN
2133		-	ONE COUNTY
2134		-	, THEN THE PART LOCATED IN EACH COUNTY IS TREATED LIKE
2135		-	ANY OTHER LOCAL GOVERNMENTAL ENTITY LOCATED WITHIN THE COUNTY
2136		-	FOR THE PURPOSE OF DETERMINING THE REIMBURSEMENT AMOUNT UNDER
2137		-	SUBSECTION
2138		-	(4.5)(a) OF THIS SECTION, BUT, FOR THE PURPOSE OF APPLYING
2139		-	SUBSECTION
2140		-	(4.5)(b) OF THIS SECTION, THE ENTIRE LOCAL GOVERNMENTAL
2141		-	ENTITY IS CONSIDERED
2142		-	.
2143		-	(5) On or before March 21, 2024, based on the information available
2144		-	as of that date, the property tax administrator shall submit a report to the
2145		-	general assembly describing the aggregate reduction of local government
2146		-	TOTAL property tax revenue during REDUCTION FOR ALL LOCAL
2147		-	PAGE 42-SENATE BILL 23-303 GOVERNMENTAL ENTITIES STATEWIDE FOR the property tax year
2148		-	commencing on January 1, 2023. as a result of the changes made in Senate
2149		-	Bill 22-238, enacted in 2022, that reduced valuations for assessment set
2150		-	forth pursuant to sections 39-1-104 (1)(b) and (1.8)(b), 39-1-104.2 (3)(q)(II)
2151		-	and (3)(r)(II), and 39-3-104.3 (2).
2152		-	(5.5) (a) THE LOCAL GOVERNMENT BACKFILL CASH FUND IS HEREBY
2153		-	CREATED IN THE STATE TREASURY
2154		-	. THE FUND CONSISTS OF MONEY
2155		-	TRANSFERRED TO THE FUND IN ACCORDANCE WITH SUBSECTION
2156		-	(5.5)(b) OF
2157		-	THIS SECTION
2158		-	. THE STATE TREASURER SHALL CREDIT ALL INTEREST AND
2159		-	INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY IN THE
2160		-	LOCAL GOVERNMENT BACKFILL CASH FUND TO THE FUND
2161		-	.
	1982	+	6
	1983	+	GOVERNMENTAL ENTITY 'S REIMBURSEMENT AS NECESSARY TO AVOID THE7
	1984	+	LOCAL GOVERNMENTAL ENTITY EXCEEDING ITS FISCAL YEAR SPENDING8
	1985	+	LIMIT UNDER SECTION 20 (7)(b) OF ARTICLE X OF THE STATE9
	1986	+	CONSTITUTION FOR THE FISCAL YEAR.10
	1987	+	(d) IF A LOCAL GOVERNMENTAL ENTITY HAS AN INCREASE OF11
	1988	+	TWENTY PERCENT OR MORE IN THE ASSESSED VALUE OF REAL PROPERTY12
	1989	+	FROM THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2022, TO13
	1990	+	THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2023, THEN, FOR14
	1991	+	THE REIMBURSEMENT FOR THE PROPERTY TAX YEAR COMMENCING ON15
	1992	+	JANUARY 1, 2023, THE LOCAL GOVERNMENTAL ENTITY'S TOTAL PROPERTY16
	1993	+	TAX REVENUE REDUCTION IS BASED ONLY ON THE TEMPORARY17
	1994	+	REDUCTIONS IN VALUATION FOR ASSESSMENT MADE IN SENATE BILL18
	1995	+	22-238, ENACTED IN 2022.19
	1996	+	(e) THE REIMBURSEMENT AMOUNTS SET FORTH IN THIS SECTION20
	1997	+	ARE BASED ON THE AMOUNTS THAT THE ADMINISTRATOR REPORTS TO THE21
	1998	+	TREASURER IN ACCORDANCE WITH SUBSECTION (3) OF THIS SECTION. FOR22
	1999	+	PURPOSES OF THIS SUBSECTION (4.5), POPULATION IS DETERMINED23
	2000	+	PURSUANT TO THE MOST RECENTLY PUBLISHED POPULATION ESTIMATES24
	2001	+	FROM THE STATE DEMOGRAPHER APPOINTED BY THE EXECUTIVE DIRECTOR25
	2002	+	OF THE DEPARTMENT OF LOCAL AFFAIRS .26
	2003	+	(f) IF A LOCAL GOVERNMENTAL ENTITY IS LOCATED IN MORE THAN27
	2004	+	303
	2005	+	-57- ONE COUNTY, THEN THE PART LOCATED IN EACH COUNTY IS TREATED LIKE1
	2006	+	ANY OTHER LOCAL GOVERNMENTAL ENTITY LOCATED WITHIN THE C OUNTY2
	2007	+	FOR THE PURPOSE OF DETERMINING THE REIMBURSEMENT AM OUNT UNDER3
	2008	+	SUBSECTION (4.5)(a) OF THIS SECTION, BUT, FOR THE PURPOSE OF4
	2009	+	APPLYING SUBSECTION (4.5)(b) OF THIS SECTION, THE ENTIRE LOCAL5
	2010	+	GOVERNMENTAL ENTITY IS CONSIDERED .6
	2011	+	(5) On or before March 21, 2024, based on the information7
	2012	+	available as of that date, the property tax administrator shall submit a8
	2013	+	report to the general assembly describing the aggregate reduction of local9
	2014	+	government TOTAL property tax revenue during REDUCTION FOR ALL10
	2015	+	LOCAL GOVERNMENTAL ENTITIES STATEWIDE FOR the property tax year11
	2016	+	commencing on January 1, 2023. as a result of the changes made in12
	2017	+	Senate Bill 22-238, enacted in 2022, that reduced valuations for13
	2018	+	assessment set forth pursuant to sections 39-1-104 (1)(b) and (1.8)(b),14
	2019	+	39-1-104.2 (3)(q)(II) and (3)(r)(II), and 39-3-104.3 (2).15
	2020	+	(5.5) (a) T
	2021	+	HE LOCAL GOVERNMENT BACKFILL CASH FUND IS16
	2022	+	HEREBY CREATED IN THE STATE TREASURY . THE FUND CONSISTS OF17
	2023	+	MONEY TRANSFERRED TO THE FUND IN ACCORDANCE WITH SUBSECTION18
	2024	+	(5.5)(b)
	2025	+	OF THIS SECTION. THE STATE TREASURER SHALL CREDIT ALL19
	2026	+	INTEREST AND INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF20
	2027	+	MONEY IN THE LOCAL GOVERNMENT BACKFILL CASH FUND TO THE FUND .21
2162	2028		(b) O
2163		-	N FEBRUARY 1, 2024, THE STATE TREASURER SHALL TRANSFER
2164		-	ONE HUNDRED TWENTY
2165		-	-EIGHT MILLION DOLLARS FROM THE GENERAL FUND
2166		-	TO THE FUND
2167		-	.
	2029	+	N FEBRUARY 1, 2024, THE STATE TREASURER SHALL22
	2030	+	TRANSFER ONE HUNDRED TWENTY -EIGHT MILLION DOLLARS FROM THE23
	2031	+	GENERAL FUND TO THE FUND.24
2168	2032		(c) T
2169		-	HE MONEY IN THE FUND IS AVAILABLE FOR THE STATE
2170		-	TREASURER TO PAY THE WARRANTS REQUIRED TO BE ISSUED IN ACCORDANCE
2171		-	WITH SUBSECTION
2172		-	(4)(a)(II) OF THIS SECTION.
2173		-	(6) This section is repealed, effective July 1, 2025
2174		-	JULY 1, 2035.
2175		-	SECTION 15. In Colorado Revised Statutes, amend 39-5-129 as
2176		-	follows:
2177		-	39-5-129. Delivery of tax warrant - public inspection - repeal.
2178		-	(1) As soon as practicable after the requisite taxes for the year have been
2179		-	levied but in no event later than January 10 of each year, the assessor shall
2180		-	deliver the tax warrant under his
2181		-	THE hand and official seal OF THE
2182		-	ASSESSOR
2183		-	to the treasurer, which shall be made readily available to the
2184		-	general public during the collection year in a convenient location in the
2185		-	courthouse. The assessor shall retain one or more true copies thereof, which
2186		-	shall be made readily available to the general public during the collection
2187		-	year in a convenient location in the courthouse. Such tax warrant shall set
2188		-	forth the assessment roll, reciting the persons in whose names taxable
2189		-	property in the county has been listed, the class of such taxable property and
2190		-	the valuation for assessment thereof, the several taxes levied against such
2191		-	valuation, and the amount of such taxes extended against each separate
2192		-	valuation. At the end of the warrant, the aggregate of all taxes levied shall
2193		-	PAGE 43-SENATE BILL 23-303 be totaled, balanced, and prorated to the several funds of each levying
2194		-	authority, and the treasurer shall be commanded to collect all such taxes.
	2033	+	HE MONEY IN THE FUND IS AVAILABLE FOR THE STATE25
	2034	+	TREASURER TO PAY THE WARRANTS REQUIRED TO BE ISSUED IN26
	2035	+	ACCORDANCE WITH SUBSECTION (4)(a)(II) OF THIS SECTION. 27
	2036	+	303
	2037	+	-58- (6) This section is repealed, effective July 1, 2025 JULY 1, 2035.1
	2038	+	SECTION 15. In Colorado Revised Statutes, amend 39-5-129 as2
	2039	+	follows:3
	2040	+	39-5-129. Delivery of tax warrant - public inspection - repeal.4
	2041	+	(1) As soon as practicable after the requisite taxes for the year have been5
	2042	+	levied but in no event later than January 10 of each year, the assessor6
	2043	+	shall deliver the tax warrant under his THE hand and official seal OF THE7
	2044	+	ASSESSOR to the treasurer, which shall be made readily available to the8
	2045	+	general public during the collection year in a convenient location in the9
	2046	+	courthouse. The assessor shall retain one or more true copies thereof,10
	2047	+	which shall be made readily available to the general public during the11
	2048	+	collection year in a convenient location in the courthouse. Such tax12
	2049	+	warrant shall set forth the assessment roll, reciting the persons in whose13
	2050	+	names taxable property in the county has been listed, the class of such14
	2051	+	taxable property and the valuation for assessment thereof, the several15
	2052	+	taxes levied against such valuation, and the amount of such taxes16
	2053	+	extended against each separate valuation. At the end of the warrant, the17
	2054	+	aggregate of all taxes levied shall be totaled, balanced, and prorated to the18
	2055	+	several funds of each levying authority, and the treasurer shall be19
	2056	+	commanded to collect all such taxes.20
2195	2057		(2) (a) F
2196		-	OR THE PROPERTY TAX YEAR COMMENCING ON ~~JANUARY 1,~~
2197		-	~~2023~~,
2198		-	THE DEADLINE SET FORTH IN SUBSECTION (1) OF THIS SECTION IS
2199		-	POSTPONED FROM
2200		-	~~JANUARY 10, 2024, TO~~ JANUARY 19, 2024.
	2058	+	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY21
	2059	+	1,
	2060	+	2023, THE DEADLINE SET FORTH IN SUBSECTION (1) OF THIS SECTION IS22
	2061	+	POSTPONED FROM JANUARY 10, 2024, TO
	2062	+	JANUARY 19, 2024.23
2201	2063		(b) T
2202		-	HIS SUBSECTION (2) IS REPEALED, EFFECTIVE JULY 1, 2025.
2203		-	SECTION 16. In Colorado Revised Statutes, 39-10-103, ~~add (1)(c)~~
2204		-	as follows:
	2064	+	HIS SUBSECTION (2) IS REPEALED, EFFECTIVE JULY 1, 2025.24
	2065	+	SECTION 16. In Colorado Revised Statutes, 39-10-103, add25
	2066	+	(1)(c) as follows:26
2205	2067		39-10-103. Tax statement - repeal. (1) (c) (I) F
2206		-	OR ~~THE PROPERTY~~
2207		-	~~TAX YEAR COMMENCING ON~~
2208		-	JANUARY 1, 2023, THE ~~TREASURER SHALL MAIL~~
2209		-	THE STATEMENT AS SOON AS PRACTICABLE AFTER
2210		-	~~JANUARY~~ 19, 2024.
	2068	+	OR THE27
	2069	+	303
	2070	+	-59- PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2023, THE TREASURER1
	2071	+	SHALL MAIL THE STATEMENT AS SOON AS PRACTICABLE AFTER JANUARY2
	2072	+	19, 2024.3
2211	2073		(II) T
2212		-	HIS SUBSECTION (1)(c) IS REPEALED, EFFECTIVE JULY 1, 2025.
2213		-	SECTION 17. In Colorado Revised Statutes, 39-21-113, ~~amend~~
2214		-	(24) as follows:
2215		-	39-21-113. Reports and returns - rule - repeal.
2216		-	(24) Notwithstanding any other provision of this section, the ~~executive~~
2217		-	director, after receiving from the property tax administrator a list of
	2074	+	HIS SUBSECTION (1)(c) IS REPEALED, EFFECTIVE JULY 1, 2025.4
	2075	+	SECTION 17. In Colorado Revised Statutes, 39-21-113, amend5
	2076	+	(24) as follows:6
	2077	+	39-21-113. Reports and returns - rule - repeal.7
	2078	+	(24) Notwithstanding any other provision of this section, the executive8
	2079	+	director, after receiving from the property tax administrator a list of9
2218	2080		individuals who are claiming
2219		-	EITHER the property tax exemptions for
2220		-	qualifying seniors and disabled veterans allowed under part 2 of article 3 of
2221		-	this title
2222		-	TITLE 39 OR THE PRIMARY RESIDENCE REAL PROPERTY OR
2223		-	QUALIFIED
2224		-	-SENIOR PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATION
2225		-	FOR THE PROPERTY
2226		-	, shall provide to the property tax administrator
2227		-	information pertaining to the listed individuals, including their names,
2228		-	social security numbers, marital and income tax filing status, and residency
2229		-	status, needed by the administrator to verify that the exemption
2230		-	OR
2231		-	CLASSIFICATION
2232		-	is allowed only to applicants who satisfy legal requirements
2233		-	for claiming it. The administrator and the administrator's agents, clerks, and
2234		-	employees shall keep all information received from the executive director
2235		-	confidential, and any individual who fails to do so is guilty of a
2236		-	misdemeanor and subject to punishment as specified in subsection (6) of
2237		-	this section.
2238		-	SECTION 18. In Colorado Revised Statutes, 39-22-2002, add (5.5)
2239		-	PAGE 44-SENATE BILL 23-303 as follows:
2240		-	39-22-2002. Fiscal years commencing on or after July 1, 1998 -
2241		-	state sales tax refund - authority of executive director - repeal.
2242		-	(5.5) (a) I
2243		-	N ADDITION TO THE CALCULATIONS OTHERWISE REQUIRED BY THIS
2244		-	SECTION
2245		-	, NO LATER THAN OCTOBER 1, 2023, THE EXECUTIVE DIRECTOR
2246		-	SHALL CALCULATE THE AMOUNT OF THE IDENTICAL INDIVI DUAL REFUND
2247		-	CALCULATED PURSUANT TO SUBSECTION
2248		-	(2)(a) OF THIS SECTION AND THE
2249		-	INCOME CLASSIFICATIONS AND THE AMOUNT OF THE REFUND ALLOWED FOR
2250		-	EACH INCOME CLASSIFICATION PURSUANT TO SECTION
2251		-	39-22-2003 (3) FOR
2252		-	THE TAXABLE YEAR COMMENCING DURING THE FISCAL YEAR BASED ON THE
2253		-	AMOUNT OF EXCESS STATE REVENUES THAT WILL BE REF UNDED UNDER
2254		-	SECTION
2255		-	39-3-210 WITH OR WITHOUT THE PROVISIONS OF SENATE BILL
2256		-	23-303 TAKING EFFECT.
	2081	+	EITHER the property tax exemptions for10
	2082	+	qualifying seniors and disabled veterans allowed under part 2 of article11
	2083	+	3 of this title
	2084	+	TITLE 39 OR THE PRIMARY RESIDENCE REAL PROPERTY OR12
	2085	+	QUALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATION13
	2086	+	FOR THE PROPERTY, shall provide to the property tax administrator14
	2087	+	information pertaining to the listed individuals, including their names,15
	2088	+	social security numbers, marital and income tax filing status, and16
	2089	+	residency status, needed by the administrator to verify that the exemption17
	2090	+	OR CLASSIFICATION is allowed only to applicants who satisfy legal18
	2091	+	requirements for claiming it. The administrator and the administrator's19
	2092	+	agents, clerks, and employees shall keep all information received from the20
	2093	+	executive director confidential, and any individual who fails to do so is21
	2094	+	guilty of a misdemeanor and subject to punishment as specified in22
	2095	+	subsection (6) of this section.23
	2096	+	SECTION 18. In Colorado Revised Statutes, 39-22-2002, add24
	2097	+	(5.5) as follows:25
	2098	+	39-22-2002. Fiscal years commencing on or after July 1, 199826
	2099	+	- state sales tax refund - authority of executive director - repeal.27
	2100	+	303
	2101	+	-60- (5.5) (a) IN ADDITION TO THE CALCULATIONS OTHERWISE REQUIRED BY1
	2102	+	THIS SECTION, NO LATER THAN OCTOBER 1, 2023, THE EXECUTIVE2
	2103	+	DIRECTOR SHALL CALCULATE THE AMOUNT OF THE IDENTICAL INDIVIDUAL3
	2104	+	REFUND CALCULATED PURSUANT TO SUBSECTION (2)(a) OF THIS SECTION4
	2105	+	AND THE INCOME CLASSIFICATIONS AND THE AMOUNT OF THE REFUND5
	2106	+	ALLOWED FOR EACH INCOME CLASSIFICATION PURSUANT TO SECTION6
	2107	+	39-22-2003
	2108	+	(3) FOR THE TAXABLE YEAR COMMENCING DURING THE FISCAL7
	2109	+	YEAR BASED ON THE AMOUNT OF EXCESS STATE REVENUES THAT WILL BE8
	2110	+	REFUNDED UNDER SECTION 39-3-210 WITH OR WITHOUT THE PROVISIONS9
	2111	+	OF THIS SENATE BILL 23-____ TAKING EFFECT.10
2257	2112		(b) T
2258		-	HIS SUBSECTION (5.5) IS REPEALED, EFFECTIVE JULY 1, 2024.
	2113	+	HIS SUBSECTION (5.5) IS REPEALED, EFFECTIVE JULY 1, 2024.11
2259	2114		SECTION 19. In Colorado Revised Statutes, 22-54-114, add (10)
2260		-	as follows:
2261		-	22-54-114. State public school fund - repeal.(10) (a) O
2262		-	N
2263		-	FEBRUARY 1, 2024, THE STATE TREASURER SHALL TRANSFER SEVENTY -TWO
2264		-	MILLION DOLLARS FROM THE GENERAL FUND TO THE STATE PUBLIC SCHOOL
2265		-	FUND FOR THE PURPOSE OF OFFSETTING REDUCTIONS IN SC HOOL DISTRICT
2266		-	PROPERTY TAX REVENUE
2267		-	.
	2115	+	12
	2116	+	as follows:13
	2117	+	22-54-114. State public school fund - repeal.(10) (a) ON14
	2118	+	F
	2119	+	EBRUARY 1, 2024, THE STATE TREASURER SHALL TRANSFER
	2120	+	15
	2121	+	SEVENTY-TWO MILLION DOLLARS FROM THE GENERAL FUND TO THE STATE16
	2122	+	PUBLIC SCHOOL FUND FOR THE PURPOSE OF OFFSETTING REDUCTIONS IN17
	2123	+	SCHOOL DISTRICT PROPERTY TAX REVENUE .18
2268	2124		(b) T
2269	2125		HIS SUBSECTION (10) IS REPEALED, EFFECTIVE JULY 1, 2025.
2270		-	SECTION 20. In Colorado Revised Statutes, 39-5-121, add (3.5)
2271		-	as follows:
2272		-	39-5-121. Notice of valuation - legislative declaration - definition
2273		-	- repeal. (3.5) (a) O
2274		-	N OR BEFORE MARCH 1, 2024, THE ADMINISTRATOR
2275		-	SHALL PREPARE A DESCRIPTION OF THE PROPERTY TAX CLASSES AND
2276		-	SUBCLASSES SET FORTH IN SECTIONS
2277		-	39-1-104 AND 39-1-104.2, THE
2278		-	VALUATION FOR ASSESSMENT FOR THE DIFFERENT CLASSES AND
2279		-	SUBCLASSES
2280		-	, THE PROPERTY TAX YEARS THAT THE VARIOUS VALUATIONS
2281		-	FOR ASSESSMENT APPLY
2282		-	, AND INFORMATION ABOUT THE APPLICATION
2283		-	PROCESS SET FORTH IN SECTION
2284		-	39-1-104.6 (3). THE ASSESSOR SHALL EITHER
2285		-	INCLUDE THE DESCRIPTION ALONG WITH A NOTICE OF VALUATION THAT IS
2286		-	PAGE 45-SENATE BILL 23-303 REQUIRED TO BE SENT IN THE 2024 CALENDAR YEAR UNDER SUBSECTION (1)
2287		-	OR (1.5) OF THIS SECTION OR MAKE IT AVAILABLE ON THE ASSESSOR 'S
2288		-	WEBSITE
2289		-	.
	2126	+	19
	2127	+	SECTION 20. In Colorado Revised Statutes, 39-5-121, add (3.5)20
	2128	+	as follows:21
	2129	+	39-5-121. Notice of valuation - legislative declaration -22
	2130	+	definition - repeal. (3.5) (a) ON OR BEFORE MARCH 1, 2024, THE23
	2131	+	ADMINISTRATOR SHALL PREPARE A DESCRIPTION OF THE PROPERTY TAX24
	2132	+	CLASSES AND SUBCLASSES SET FORTH IN SECTIONS 39-1-104 AND25
	2133	+	39-1-104.2,
	2134	+	THE VALUATION FOR ASSESSMENT FOR THE DIFFERENT
	2135	+	26
	2136	+	CLASSES AND SUBCLASSES, THE PROPERTY TAX YEARS THAT THE VARIOUS27
	2137	+	303
	2138	+	-61- VALUATIONS FOR ASSESSMENT APPLY , AND INFORMATION ABOUT THE1
	2139	+	APPLICATION PROCESS SET FORTH IN SECTION 39-1-104.6 (3). THE2
	2140	+	ASSESSOR SHALL EITHER INCLUDE THE DESCRIPTION ALONG WITH A NOTICE3
	2141	+	OF VALUATION THAT IS REQUIRED TO BE SENT IN THE 2024 CALENDAR4
	2142	+	YEAR UNDER SUBSECTION (1) OR (1.5) OF THIS SECTION OR MAKE IT5
	2143	+	AVAILABLE ON THE ASSESSOR'S WEBSITE.6
2290	2144		(b) T
2291	2145		HIS SUBSECTION (3.5) IS REPEALED, EFFECTIVE JULY 1, 2025.
2292		-	SECTION 21. In Colorado Revised Statutes, 39-10-104.5, amend
2293		-	(3)(a) as follows:
2294		-	39-10-104.5. Payment dates - optional payment dates - failure to
2295		-	pay - delinquency. (3) (a) (I) If the first installment is not paid on or
2296		-	before the last day of February, then delinquent interest on the first
2297		-	installment shall accrue at the rate of one percent per month from the first
2298		-	day of March until the date of payment; except that, if payment of the first
2299		-	installment is made after the last day of February but not later than thirty
2300		-	days after the mailing by the treasurer of the tax statement, or true and
2301		-	actual notification of an electronic statement, pursuant to section 39-10-103
2302		-	(1)(a), no such delinquent interest shall accrue. If the second installment is
2303		-	not paid by the fifteenth day of June, delinquent interest on the second
2304		-	installment shall accrue at the rate of one percent per month from the
2305		-	sixteenth day of June until the date of payment. Interest on the first
2306		-	installment shall continue to accrue at the same time that interest is accruing
2307		-	on the unpaid portion of the second installment. The taxpayer shall continue
2308		-	to have the option of paying delinquent property taxes in two equal
2309		-	installments until one day prior to the sale of the tax lien on such property
2310		-	pursuant to article 11 of this title.
2311		-	(II) (A) F
2312		-	OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
2313		-	2023,
2314		-	DELINQUENT INTEREST DOES NOT ACCRUE IF PAYMENT OF THE FIRST
2315		-	INSTALLMENT IS MADE AFTER THE LAST DAY OF
2316		-	FEBRUARY BUT NOT LATER
2317		-	THAN FIFTEEN DAYS AFTER THE MAILING BY THE TREASURER OF THE TAX
2318		-	STATEMENT
2319		-	, OR TRUE AND ACTUAL NOTIFICATION OF AN ELECTRONIC
2320		-	STATEMENT
2321		-	, PURSUANT TO SECTION 39-10-103 (1).
2322		-	(B) T
2323		-	HIS SUBSECTION (3)(a)(II) IS REPEALED, EFFECTIVE JULY 1,
2324		-	2025.
2325		-	SECTION 22. Appropriation. (1) For the 2023-24 state fiscal
2326		-	year, $62,426 is appropriated to the department of local affairs. This
2327		-	appropriation is from the general fund. To implement this act, the
2328		-	PAGE 46-SENATE BILL 23-303 department may use this appropriation for the purchase of information
2329		-	technology services.
2330		-	(2) For the 2023-24 state fiscal year, $62,426 is appropriated to the
2331		-	office of the governor for use by the office of information technology. This
2332		-	appropriation is from reappropriated funds received from the department of
2333		-	local affairs under subsection (1) of this section. To implement this act, the
2334		-	office may use this appropriation to provide information technology
2335		-	services for the department of local affairs.
2336		-	(3) For the 2023-24 state fiscal year, $94,162,222 is appropriated to
2337		-	the department of education. This appropriation is from the state education
2338		-	fund created in section 17 (4)(a) of article IX of the state constitution. To
2339		-	implement this act, the department may use this appropriation for the state
2340		-	share of districts' total program funding.
2341		-	SECTION 23. Effective date. (1) Except as otherwise provided in
2342		-	subsection (2) of this section, this act takes effect only if a majority of
2343		-	voters approve the ballot issue referred in accordance with section
2344		-	24-77-202, Colorado Revised Statutes, enacted in section 3 of this act, and
2345		-	in which case this act takes effect on the date of the official declaration of
2346		-	the vote thereon by the governor.
2347		-	(2) Section 3, section 39-1-104.2 (3.7) enacted in section 9 of this
2348		-	bill, section 39-3-210 (1)(a.3), (1)(e), and (2.5) enacted or amended in
2349		-	section 14 of this act, section 18, this section 23, and section 24 of this act
2350		-	take effect upon passage.
2351		-	SECTION 24. Safety clause. The general assembly hereby finds,
2352		-	PAGE 47-SENATE BILL 23-303 determines, and declares that this act is necessary for the immediate
2353		-	preservation of the public peace, health, or safety.
2354		-	____________________________ ____________________________
2355		-	Steve Fenberg Julie McCluskie
2356		-	PRESIDENT OF SPEAKER OF THE HOUSE
2357		-	THE SENATE OF REPRESENTATIVES
2358		-	____________________________ ____________________________
2359		-	Cindi L. Markwell Robin Jones
2360		-	SECRETARY OF CHIEF CLERK OF THE HOUSE
2361		-	THE SENATE OF REPRESENTATIVES
2362		-	APPROVED________________________________________
2363		-	(Date and Time)
2364		-	_________________________________________
2365		-	Jared S. Polis
2366		-	GOVERNOR OF THE STATE OF COLORADO
2367		-	PAGE 48-SENATE BILL 23-303
	2146	+	7
	2147	+	SECTION 21. In Colorado Revised Statutes, 39-10-104.5, amend8
	2148	+	(3)(a) as follows:9
	2149	+	39-10-104.5. Payment dates - optional payment dates - failure10
	2150	+	to pay - delinquency. (3) (a) (I) If the first installment is not paid on or11
	2151	+	before the last day of February, then delinquent interest on the first12
	2152	+	installment shall accrue at the rate of one percent per month from the first13
	2153	+	day of March until the date of payment; except that, if payment of the first14
	2154	+	installment is made after the last day of February but not later than thirty15
	2155	+	days after the mailing by the treasurer of the tax statement, or true and16
	2156	+	actual notification of an electronic statement, pursuant to section17
	2157	+	39-10-103 (1)(a), no such delinquent interest shall accrue. If the second18
	2158	+	installment is not paid by the fifteenth day of June, delinquent interest on19
	2159	+	the second installment shall accrue at the rate of one percent per month20
	2160	+	from the sixteenth day of June until the date of payment. Interest on the21
	2161	+	first installment shall continue to accrue at the same time that interest is22
	2162	+	accruing on the unpaid portion of the second installment. The taxpayer23
	2163	+	shall continue to have the option of paying delinquent property taxes in24
	2164	+	two equal installments until one day prior to the sale of the tax lien on25
	2165	+	such property pursuant to article 11 of this title.26
	2166	+	(II) (A) FOR THE PROPERTY TAX YEAR COMMENCING ON JANUARY27
	2167	+	303
	2168	+	-62- 1, 2023, DELINQUENT INTEREST DOES NOT ACCRUE IF PAYMENT OF THE1
	2169	+	FIRST INSTALLMENT IS MADE AFTER THE LAST DAY OF FEBRUARY BUT NOT2
	2170	+	LATER THAN FIFTEEN DAYS AFTER THE MAILING BY THE TREASURER OF THE3
	2171	+	TAX STATEMENT, OR TRUE AND ACTUAL NOTIFICATION OF AN ELECTRONIC4
	2172	+	STATEMENT, PURSUANT TO SECTION 39-10-103 (1).5
	2173	+	(B) THIS SUBSECTION (3)(a)(II) IS REPEALED, EFFECTIVE JULY 1,6
	2174	+	2025.7
	2175	+	SECTION 22. Appropriation. (1) For the 2023-24 state fiscal8
	2176	+	year, $62,426 is appropriated to the department of local affairs. This9
	2177	+	appropriation is from the general fund. To implement this act, the10
	2178	+	department may use this appropriation for the purchase of information11
	2179	+	technology services.12
	2180	+	(2) For the 2023-24 state fiscal year, $62,426 is appropriated to13
	2181	+	the office of the governor for use by the office of information technology.14
	2182	+	This appropriation is from reappropriated funds received from the15
	2183	+	department of local affairs under subsection (1) of this section. To16
	2184	+	implement this act, the office may use this appropriation to provide17
	2185	+	information technology services for the department of local affairs.18
	2186	+	(3) For the 2023-24 state fiscal year, $94,162,222 is appropriated19
	2187	+	to the department of education. This appropriation is from the state20
	2188	+	education fund created in section section 17 (4)(a) of article IX of the21
	2189	+	state constitution. To implement this act, the department may use this22
	2190	+	appropriation for the state share of districts' total program funding.23
	2191	+	SECTION 23. Effective date. (1) Except as otherwise provided24
	2192	+	in subsection (2) of this section, this act takes effect only if a majority of25
	2193	+	voters approve the ballot issue referred in accordance with section26
	2194	+	24-77-202, Colorado Revised Statutes, enacted in section 3 of this act,27
	2195	+	303
	2196	+	-63- and in which case this act takes effect on the date of the official1
	2197	+	declaration of the vote thereon by the governor.2
	2198	+	(2) Section 3, section 39-1-104.2 (3.7) enacted in section 9 of this3
	2199	+	bill, section 39-3-210 (1)(a.3), (1)(e), and (2.5) enacted or amended in4
	2200	+	section 14 of this act, section 18, this section 23, and section 24 of this act5
	2201	+	take effect upon passage.6
	2202	+	SECTION 24. Safety clause. The general assembly hereby finds,7
	2203	+	determines, and declares that this act is necessary for the immediate8
	2204	+	preservation of the public peace, health, or safety.9
	2205	+	303
	2206	+	-64-