Colorado Senate Bill SB303 Latest Draft

                            SENATE BILL 23-303
BY SENATOR(S) Fenberg and Hansen, Bridges, Buckner, Hinrichsen,
Moreno, Priola;
also REPRESENTATIVE(S) deGruy Kennedy and Weissman, Amabile,
Bird, Boesenecker, Brown, Dickson, Duran, Herod, Jodeh, Joseph, Kipp,
Lindsay, McCormick, Michaelson Jenet, Ricks, Sharbini, Sirota, Snyder,
Story, Titone, Woodrow, Young, McCluskie.
C
ONCERNING A REDUCTION IN PROPERTY TAXES , AND, IN CONNECTION
THEREWITH
, CREATING A LIMIT ON ANNUAL PROPERTY TAX
INCREASES FOR CERTAIN LOCAL GOVERNMENTS
; TEMPORARILY
REDUCING THE VALUATION FOR ASSESSMENT OF CERTAIN
RESIDENTIAL AND NONRESIDENTIAL PROPERTY
; CREATING NEW
SUBCLASSES OF PROPERTY
; PERMITTING THE STATE TO RETAIN AND
SPEND REVENUE UP TO THE PROPOSITION 
HH CAP; REQUIRING THE
RETAINED REVENUE TO BE USED TO REIMBURSE CERTAIN LOCAL
GOVERNMENTS FOR LOST PROPERTY TAX REVENUE AND TO BE
DEPOSITED IN THE STATE EDUCATION FUND TO BACKFILL THE
REDUCTION IN SCHOOL DISTRICT PROPERTY TAX REVENUE
;
TRANSFERRING GENERAL FUND MONEY TO THE STATE PUBLIC SC HOOL
FUND AND TO A CASH FUND TO ALSO BE USED FOR THE
REIMBURSEMENTS
; ELIMINATING THE CAP ON THE AMOUNT OF EXCESS
STATE REVENUES THAT MAY BE USED FOR THE REIMBURSEMENTS FOR
THE 
2023 PROPERTY TAX YEAR; REFERRING A BALLOT ISSUE; AND
NOTE:  This bill has been prepared for the signatures of the appropriate legislative
officers and the Governor.  To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
history, or the Session Laws.
________
Capital letters or bold & italic numbers indicate new material added to existing law; dashes
through words or numbers indicate deletions from existing law and such material is not part of
the act. MAKING AN APPROPRIATION.
 
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. In Colorado Revised Statutes, 22-40-102, amend (3)
and (6) as follows:
22-40-102.  Certification - tax revenues - repeal. (3) (a)  The board
of education of a school district which had an actual enrollment of more
than fifty thousand pupils during the preceding school year may make the
certification provided for in subsection (1) of this section no later than
December 15.
(b) (I)  F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
2023,
 THE DEADLINE SET FORTH IN SUBSECTION (3)(a) OF THIS SECTION IS
POSTPONED FROM 
DECEMBER 15, 2023, TO JANUARY 5, 2024.
(II)  T
HIS SUBSECTION (3)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.
(6) (a)  Each school district, with such assistance as may be required
from the department of education, shall inform the county treasurer for each
county within the district's boundaries no later than December 15 of each
year of said district's general fund mill levy in the absence of funds
estimated to be received by said district pursuant to the "Public School
Finance Act of 1994", article 54 of this title
 TITLE 22, and the estimated
funds to be received for the general fund of the district from the state.
(b) (I)  F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
2023,
 THE DEADLINE SET FORTH IN SUBSECTION (6)(a) OF THIS SECTION IS
POSTPONED FROM 
DECEMBER 15, 2023, TO JANUARY 5, 2024.
(II)  T
HIS SUBSECTION (6)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.
SECTION 2. In Colorado Revised Statutes, 25-2-103, add (4.7) as
follows:
25-2-103.  Centralized registration system for all vital statistics
- office of the state registrar of vital statistics created - appointment of
registrar - rules. (4.7)  N
OTWITHSTANDING ANY OTHER PROVISION OF LAW
PAGE 2-SENATE BILL 23-303 THAT LIMITS THE SHARING OF VITAL STATISTICS, AFTER RECEIVING THE LIST
OF NAMES AND SOCIAL SECURITY NUMBERS OF INDIVIDUALS WHO HAD
PROPERTY CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY OR
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY THAT IS PROVIDED
BY THE PROPERTY TAX ADMINISTRATOR PURSUANT TO SECTION 
39-1-104.6
(5)(c), 
THE STATE REGISTRAR SHALL IDENTIFY ALL INDIVIDUALS ON THE LIST
WHO HAVE DIED AND TRANSMIT A LIST OF THE NAMES AND SOCIAL SECURITY
NUMBERS OF SUCH INDIVIDUALS TO THE ADMINISTRATOR
.
SECTION 3. In Colorado Revised Statutes, add part 2 to article 77
of title 24 as follows:
PART 2
SUBMISSION OF BALLOT ISSUE - VOTER-APPROVED
REVENUE CHANGE - PROPERTY TAX REDUCTION
BACKFILL
24-77-201.  Definitions. A
S USED IN THIS PART 2, UNLESS THE
CONTEXT OTHERWISE REQUIRES
:
(1)  "A
CCOUNT" MEANS THE PROPOSITION HH GENERAL FUND
EXEMPT ACCOUNT IN THE GENERAL FUND CREATED IN SECTION 
24-77-203
(3)(a).
(2)  "B
ALLOT ISSUE" MEANS THE QUESTION REFERRED TO VOTERS IN
ACCORDANCE WITH SECTION 
24-77-202 (1).
(3)  "E
XCESS STATE REVENUES CAP" HAS THE SAME MEANING AS SET
FORTH IN SECTION 
24-77-103.6 (6)(b).
(4)  "S
TATE REVENUES" MEANS STATE REVENUES NOT EXCLUDED
FROM STATE FISCAL YEAR SPENDING
, AS DEFINED IN SECTION 24-77-102 (17).
(5)  "S
TATE SURPLUS" MEANS THE AMOUNT OF STATE REVENUES
THAT EXCEED THE EXCESS STATE REVENUES CAP FOR A GIVEN STATE FISCAL
YEAR
.
24-77-202.  Submission of ballot issue - voter-approved revenue
change. (1)  A
T THE ELECTION HELD ON NOVEMBER 7, 2023, THE
SECRETARY OF STATE SHALL SUBMIT TO THE REGISTERED ELECTORS OF THE
PAGE 3-SENATE BILL 23-303 STATE FOR THEIR APPROVAL OR REJECTION THE FOLLOWING BALLOT ISSUE :
"S
HALL THE STATE REDUCE PROPERTY TAXES FOR HOMES AND BUSINESSES ,
INCLUDING EXPANDING PROPERTY TAX RELIEF FOR SENIORS , AND BACKFILL
COUNTIES
, WATER DISTRICTS, FIRE DISTRICTS, AMBULANCE AND HOSPITAL
DISTRICTS
, AND OTHER LOCAL GOVERNMENTS AND FUND SCHOOL DISTRICTS
BY USING A PORTION OF THE STATE SURPLUS UP TO THE PROPOSITION 
HH CAP
AS DEFINED IN THIS MEASURE
?"
(2)  F
OR PURPOSES OF SECTION 1-5-407, THE BALLOT ISSUE IS A
PROPOSITION TO BE IDENTIFIED AS 
"PROPOSITION HH". SECTION 1-40-106
(3)(d) 
DOES NOT APPLY TO THE BALLOT ISSUE.
24-77-203.  Retention of excess state revenues - transfer to state
education fund - local government reimbursement - legislative
declaration. (1) (a)  I
F A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE 
"YES/FOR", THEN FOR EACH FISCAL YEAR COMMENCING
ON OR AFTER 
JULY 1, 2023, THE STATE IS AUTHORIZED TO RETAIN AND SPEND
ALL OF THE STATE SURPLUS THAT IS LESS THAN THE PROPOSITION 
HH CAP,
WHICH IS:
(I)  F
OR THE 2023-24 FISCAL YEAR, AN AMOUNT EQUAL TO THE
EXCESS STATE REVENUES CAP FOR THE 
2022-23 FISCAL YEAR, ADJUSTED FOR
INFLATION PLUS ONE PERCENTAGE POINT
, THE PERCENTAGE CHANGE IN
STATE POPULATION
, THE QUALIFICATION OR DISQUALIFICATION OF
ENTERPRISES
, AND DEBT SERVICE CHANGES; AND
(II)  FOR THE FISCAL YEAR 2024-25 AND EACH SUCCEEDING FISCAL
YEAR
, AN AMOUNT EQUAL TO THE PROPOSITION HH CAP FOR THE PRIOR
FISCAL YEAR
, ADJUSTED FOR INFLATION PLUS ONE PERCENTAGE POINT , THE
PERCENTAGE CHANGE IN STATE POPULATION
, THE QUALIFICATION OR
DISQUALIFICATION OF ENTERPRISES
, AND DEBT SERVICE CHANGES.
(b) (I)  N
OTWITHSTANDING SUBSECTION (1)(a) OF THIS SECTION AND
EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION
 (1)(b)(II) OF THIS SECTION,
IF THE GENERAL ASSEMBLY DOES NOT ENACT LEGISLATION TO ESTABLISH
VALUATIONS FOR ASSESSMENT FOR THE PROPERTY TAX YEARS COMMENCING
ON AND AFTER 
JANUARY 1, 2033, THAT ARE LESS THAN OR EQUAL TO THE
TEMPORARILY REDUCED VALUATIONS FOR ASSESSMENT ESTABLISHED IN
SECTIONS 
39-1-104 (1)(b)(V), (1.8)(a)(III), (1.8)(a)(IV), AND (1.8)(b)(VI)
AND 39-1-104.2 (3)(q)(III) AND (3)(r)(IV) IN SENATE BILL 23-303 FOR THE
PAGE 4-SENATE BILL 23-303 PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2032, FOR THE SAME
CLASSES OF PROPERTY
, THEN, FOR THE FISCAL YEAR COMMENCING ON JULY
1, 2032, AND EACH FISCAL YEAR THEREAFTER, THE PROPOSITION HH CAP IS
AN AMOUNT EQUAL TO THE EXCESS STATE REVENUES CAP
.
(II)  I
F THE PROPOSITION HH CAP IS REDUCED BY OPERATION OF
SUBSECTION
 (1)(b)(I) OF THIS SECTION, THE GENERAL ASSEMBLY MAY ,
WITHOUT ADDITIONAL VOTER APPROVAL , ENACT LEGISLATION TO RESTORE
THE CAP FOR A FISCAL YEAR TO AN AMOUNT THAT IS LESS THAN OR EQUAL
TO THE AMOUNT THAT THE PROPOSITION 
HH CAP WOULD HAVE BEEN FOR
THE FISCAL YEAR UNDER SUBSECTION
 (1)(a)(II) OF THIS SECTION IF
SUBSECTION
 (1)(b)(I) OF THIS SECTION HAD NOT APPLIED IF , FOR THE
PROPERTY TAX YEAR THAT ENDS DURING THE FISCAL YEAR
, THE GENERAL
ASSEMBLY
:
(A)  E
STABLISHES VALUATIONS FOR ASSESSMENT THAT ARE LESS
THAN OR EQUAL TO THE TEMPORARILY REDUCED VALUATIONS FOR
ASSESSMENT ESTABLISHED IN SECTIONS 
39-1-104 (1)(b)(V), (1.8)(a)(III),
(1.8)(a)(IV), 
AND (1.8)(b)(VI) AND 39-1-104.2 (3)(q)(III) AND (3)(r)(IV) IN
SENATE BILL 23-303 FOR THE PROPERTY TAX YEAR COMMENCING ON
JANUARY 1, 2032, FOR THE SAME CLASSES OF PROPERTY; OR
(B) REDUCES THE VALUATIONS FOR ASSESSMENT DIFFERENTLY FROM
THE VALUATIONS FOR ASSESSMENT ESTABLISHED IN 
SENATE BILL 23-303,
BUT THE AGGREGATE REDUCTION IN THE VALUATION FOR ASSESSMENT
STATEWIDE FROM THE REDUCTIONS IS GREATER THAN OR EQUAL TO THE
ESTIMATED AGGREGATE REDUCTION IN THE VALUATION FOR ASSESSMENTS
FROM THE MINIMUM REDUCTIONS IN VALUATION FOR ASSESSMENT
NECESSARY TO MEET THE CONDITION SPECIFIED IN SUBSECTION
 (1)(b)(II)(A)
OF THIS SECTION.
(c)  F
OR PURPOSES OF THE CALCULATION SET FORTH IN THIS
SUBSECTION 
(1):
(I)  I
NFLATION AND THE PERCENTAGE CHANGE IN STATE POPULATION
ARE THE SAME RATES THAT ARE USED IN CALCULATING THE MAXIMUM
ANNUAL PERCENTAGE CHANGE IN STATE FISCAL YEAR SPENDING PURSUANT
TO SECTION 
24-77-103; AND
(II)  THE QUALIFICATION OR DISQUALIFICATION OF AN ENTERPRISE OR
PAGE 5-SENATE BILL 23-303 A DEBT SERVICE CHANGE AFFECTS THE PROPOSITION HH CAP IN THE SAME
MANNER AS THE CHANGE AFFECTS THE LIMITATION ON STATE FISCAL YEAR
SPENDING
.
(2)  T
HIS SECTION DOES NOT AFFECT THE AMOUNT THAT THE STATE
IS PERMITTED TO RETAIN AND SPEND UNDER THE AUTHORITY CONFERRED BY
THE VOTERS
' APPROVAL OF SECTION 24-77-103.6.
(3) (a)  T
HE PROPOSITION HH GENERAL FUND EXEMPT ACCOUNT IS
HEREBY CREATED IN THE GENERAL FUND
. THE ACCOUNT CONSISTS OF AN
AMOUNT EQUAL TO THE AMOUNT OF STATE SURPLUS THAT THE STATE IS
AUTHORIZED TO RETAIN AND SPEND UNDER THIS PART 
2 FOR THE PRIOR
FISCAL YEAR
, IF ANY. THE STATE TREASURER SHALL CREDIT ALL INTEREST
AND INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY IN
THE PROPOSITION 
HH GENERAL FUND EXEMPT ACCOUNT TO THE ACCOUNT .
(b)  T
HE MONEY IN THE ACCOUNT FOR EACH FISCAL YEAR BEGINNING
WITH THE 
2023-24 FISCAL YEAR MUST BE USED AS FOLLOWS :
(I)  T
HE MONEY IS FIRST USED TO PROVIDE REIMBURSEMENTS TO
LOCAL GOVERNMENTS UNDER SECTION 
39-3-210 (4)(a)(II);
(II)  I
F THERE IS ANY MONEY REMAINING AFTER THE ALLOCATION SET
FORTH IN SUBSECTION
 (3)(b)(I) OF THIS SECTION, THE STATE TREASURER
SHALL TRANSFER AN AMOUNT EQUAL TO THE REMAINDER
, FIVE PERCENT OF
THE TOTAL AMOUNT IN THE ACCOUNT FOR THE FISCAL YEAR
, OR TWENTY
MILLION DOLLARS
, WHICHEVER AMOUNT IS THE LEAST , TO THE HOUSING
DEVELOPMENT GRANT FUND CREATED IN SECTION 
24-32-721 (1) TO BE USED
TO REDUCE THE AMOUNT OF PROPERTY TAXES THAT ARE PAID AS A PORTION
OF A TENANT
'S RENT THROUGH A PROGRAM ESTABLISHED UNDER
SUBSECTION
 (2)(d)(VI) OF SAID SECTION; AND
(III) AS SOON AS POSSIBLE AFTER RECEIVING THE REPORT FROM THE
PROPERTY TAX ADMINISTRATOR IN ACCORDANCE WITH SECTION 
39-3-210
(3),
 THE STATE TREASURER SHALL TRANSFER THE AMOUNT , IF ANY, IN THE
ACCOUNT THAT IS IN EXCESS OF THE AMOUNT THAT WILL BE USED IN
ACCORDANCE WITH SUBSECTIONS
 (3)(b)(I) AND (3)(b)(II) OF THIS SECTION
TO THE STATE EDUCATION FUND CREATED IN SECTION 
17 OF ARTICLE IX OF
THE STATE CONSTITUTION
.
PAGE 6-SENATE BILL 23-303 (4)  THE GENERAL ASSEMBLY HEREBY FINDS AND DECLARES THAT :
(a)  P
UBLIC SCHOOL FUNDING CONSISTS OF A COMBINATION OF STATE
AND LOCAL SCHOOL DISTRICT REVENUE
;
(b)  U
NDER THE CURRENT SCHOOL FINANCE FORMULA , AN INCREASE
IN STATE FUNDING CAN BACKFILL A DECREASE IN LOCAL PROPERTY TAX
REVENUE
;
(c)  R
EDUCTIONS IN PROPERTY TAX VALUATIONS REDUCE THE LOCAL
PROPERTY TAX REVENUE COLLECTED FOR LOCAL GOVERNMENTS
, INCLUDING
SCHOOL DISTRICTS
;
(d)  M
ONEY IN THE STATE EDUCATION FUND IS USED TO PROVIDE
FUNDING FOR LOCAL SCHOOL DISTRICTS
; AND
(e)  IT IS THE INTENT OF THE GENERAL ASSEMBLY THAT
TRANSFERRING A PORTION OF THE MONEY FROM THE ACCOUNT TO THE STATE
EDUCATION FUND IN ACCORDANCE WITH SUBSECTION 
(3) OF THIS SECTION
PROVIDES ADDITIONAL FUNDING TO LOCAL SCHOOL DISTRICTS IN ORDER TO
BACKFILL PROPERTY TAX REVENUE REDUCTIONS RESULTING FROM PROPERTY
TAX CHANGES ENACTED IN 
SENATE BILL 23-303 AND THAT THE MONEY SO
TRANSFERRED SHALL NOT SUPPLANT GENERAL FUND APPROPRIATIONS MADE
FOR SCHOOL DISTRICTS
' TOTAL PROGRAM, AS DEFINED BY SECTION 22-54-103
(6).
24-77-204.  Repeal. (1)  I
F A MAJORITY OF THE ELECTORS VOTING ON
THE BALLOT ISSUE VOTE 
"NO/AGAINST", THEN THIS PART 2 IS REPEALED,
EFFECTIVE JULY 1, 2024.
(2)  I
F A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE
VOTE 
"YES/FOR", THEN THIS SECTION IS REPEALED, EFFECTIVE JULY 1, 2024.
SECTION 4. In Colorado Revised Statutes, 22-55-103, amend (1)
as follows:
22-55-103.  State education fund - creation - transfers to fund -
use of money in fund - permitted investments - exempt from spending
limitations. (1)  In accordance with section 17 (4) of article IX of the state
constitution, there is hereby created in the state treasury the state education
PAGE 7-SENATE BILL 23-303 fund. The fund shall consist CONSISTS of state education fund revenues,
MONEY TRANSFERRED TO THE FUND IN ACCORDANCE WITH SECTION
24-77-203 (3)(b)(III), all interest and income earned on the deposit and
investment of moneys MONEY in the fund, and any gifts or other moneys
MONEY that are exempt from the limitation on state fiscal year spending set
forth in section 20 (7)(a) of article X of the state constitution and section
24-77-103 C.R.S.,
 that may be credited to the fund. All interest and income
derived from the deposit and investment of moneys MONEY in the fund shall
be ARE credited to the fund. At the end of any state fiscal year, all
unexpended and unencumbered moneys MONEY in the fund shall remain
REMAINS in the fund and shall not revert to the general fund or any other
fund.
SECTION 5. In Colorado Revised Statutes, 24-77-106.5, amend
(1) as follows:
24-77-106.5.  Annual financial report - certification of excess
state revenues. (1) (a)  For each fiscal year, the controller shall prepare a
financial report for the state for purposes of ascertaining compliance with
the provisions of this article. Any financial report prepared pursuant to this
section shall include, but shall not be limited to, state fiscal year spending,
reserves, revenues, revenues that the state is authorized to retain and spend
pursuant to voter approval of section 24-77-103.6
 OR PURSUANT TO PART 2
OF THIS ARTICLE 77, and debt. Such
 THE financial report shall be audited by
the state auditor.
(b)  Notwithstanding section 24-1-136 (11)(a)(I), based upon the
financial report prepared in accordance with subsection (1)(a) of this section
for any given fiscal year, the controller shall certify to the governor, the
general assembly, and the executive director of the department of revenue
no later than September 1 following the end of a fiscal year the amount of
state revenues in excess of the limitation on state fiscal year spending
imposed by section 20 (7)(a) of article X of the state constitution, if any, for
such fiscal year and the state revenues in excess of such limitation that the
state is authorized to retain and spend pursuant to voter approval of section
24-77-103.6 
OR PURSUANT TO PART 2 OF THIS ARTICLE 77.
SECTION 6. In Colorado Revised Statutes, add 29-1-306 as
follows:
PAGE 8-SENATE BILL 23-303 29-1-306.  Limitation on property tax revenue - temporary
property tax credit - governing body override - notice - definitions. (1)
 A
S USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE REQUIRES :
(a)  "I
NFLATION" MEANS THE ANNUAL PERCENTAGE CHANGE IN THE
UNITED STATES DEPARTMENT OF LABOR 'S BUREAU OF LABOR STATISTICS
CONSUMER PRICE INDEX FOR 
DENVER-AURORA-LAKEWOOD FOR ALL ITEMS
PAID BY ALL URBAN CONSUMERS
, OR ITS APPLICABLE SUCCESSOR INDEX.
(b)  "L
OCAL GOVERNMENT " MEANS A GOVERNMENTAL ENTITY
AUTHORIZED BY LAW TO IMPOSE AD VALOREM TAXES ON TAXABLE PROPERTY
LOCATED WITHIN ITS TERRITORIAL LIMITS
; EXCEPT THAT THE TERM
EXCLUDES SCHOOL DISTRICTS AND ANY COUNTY
, CITY AND COUNTY, CITY,
OR TOWN THAT HAS ADOPTED A HOME RULE CHARTER .
(c)  "P
ROPERTY TAX LIMIT" MEANS THE LIMIT ESTABLISHED IN
SUBSECTION 
(2) OF THIS SECTION ON A LOCAL GOVERNMENT'S PROPERTY TAX
REVENUE FOR A PROPERTY TAX YEAR
.
(2) (a)  F
OR PROPERTY TAX YEARS COMMENCING ON AND AFTER
JANUARY 1, 2023, A LOCAL GOVERNMENT'S PROPERTY TAX REVENUE FOR A
PROPERTY TAX YEAR SHALL NOT INCREASE BY MORE THAN INFLATION FROM
THE LOCAL GOVERNMENT
'S PROPERTY TAX REVENUE FOR THE PRIOR
PROPERTY TAX YEAR
, UNLESS THE GOVERNING BODY OF THE LOCAL
GOVERNMENT APPROVES THE INCREASE IN ACCORDANCE WITH SUBSECTION
(4) OF THIS SECTION. THE GOVERNING BODY MAY ENACT A TEMPORARY
PROPERTY TAX CREDIT THAT IS UP TO THE NUMBER OF MILLS NECESSARY TO
PREVENT THE LOCAL GOVERNMENT
'S PROPERTY TAX REVENUE FROM
EXCEEDING THIS PROPERTY TAX LIMIT
.
(b)  T
HE LIMIT SET FORTH IN SUBSECTION (2)(a) OF THIS SECTION IS
BASED ON THE 
UNITED STATES DEPARTMENT OF LABOR'S BUREAU OF LABOR
STATISTICS MOST RECENTLY PUBLISHED ESTIMATE OF INFLATION FOR THE
PRIOR CALENDAR YEAR THAT IS AVAILABLE AS OF 
DECEMBER 15 OF THE
PROPERTY TAX YEAR FOR WHICH THE LIMIT IS BEING CALCULATED
. 
(3) (a)  F
OR PURPOSES OF CALCULATING THE PROPERTY TAX LIMIT ,
PROPERTY TAX REVENUE THAT IS FROM THE FOLLOWING SOURCES OR IS USED
FOR THE FOLLOWING PURPOSES IS EXCLUDED FROM PROPERTY TAX REVENUE
FOR THE PROPERTY TAX YEAR
:
PAGE 9-SENATE BILL 23-303 (I)  PROPERTY TAX REVENUE FROM THE INCREASED VALUATION FOR
ASSESSMENT WITHIN THE TAXING ENTITY FOR THE PRECEDING YEAR THAT IS
ATTRIBUTABLE TO NEW CONSTRUCTION AND PERSONAL PROPERTY
CONNECTED THEREWITH
, AS DEFINED BY THE PROPERTY TAX
ADMINISTRATOR IN MANUALS PREPARED PURSUANT TO SECTION
 39-2-109
(1)(e);
(II)  P
ROPERTY TAX REVENUE FROM THE INCREASED VALUATION FOR
ASSESSMENT ATTRIBUTABLE TO A CHANGE IN LAW FOR A PROPERTY TAX
CLASSIFICATION OR TO THE ANNEXATION OR INCLUSION OF ADDITIONAL
LAND
, THE IMPROVEMENTS THEREON, AND PERSONAL PROPERTY CONNECTED
THEREWITH WITHIN THE TAXING ENTITY FOR THE PRECEDING YEAR
;
(III)  P
ROPERTY TAX REVENUE FOR PROPERTY THAT HAD PREVIOUSLY
BEEN OMITTED FROM THE ASSESSMENT ROLL
;
(IV)  P
ROPERTY TAX REVENUE ABATED OR REFUNDED BY THE LOCAL
GOVERNMENT DURING THE PROPERTY TAX YEAR
;
(V)  P
ROPERTY TAX REVENUE ATTRIBUTABLE TO PREVIOUSLY
LEGALLY EXEMPT FEDERAL PROPERTY THAT BECOMES TAXABLE IF SUCH
PROPERTY CAUSES AN INCREASE IN THE LEVEL OF SERVICES PROVIDED BY
THE LOCAL GOVERNMENT
; AND
(VI)  ANY AMOUNT FOR THE PAYMENT OF EXPENSES INCURRED IN THE
REAPPRAISAL OF CLASSES OR SUBCLASSES ORDERED OR CONDUCTED BY THE
STATE BOARD OF EQUALIZATION FOR THE PAYMENT TO THE STATE OF EXCESS
STATE EQUALIZATION PAYMENTS TO SCHOOL DISTRICTS
, WHICH EXCESS IS
DUE TO THE UNDERVALUATION OF TAXABLE PROPERTY
.
(b)  F
OR PURPOSES OF CALCULATING THE PROPERTY TAX LIMIT ,
PROPERTY TAX REVENUE THAT IS FROM THE FOLLOWING SOURCES OR IS USED
FOR THE FOLLOWING PURPOSES IS EXCLUDED FROM PROPERTY TAX REVENUE
FOR THE PROPERTY TAX YEAR AND THE PRIOR PROPERTY TAX YEAR
:
(I)  P
ROPERTY TAX REVENUE FROM PRODUCING MINES OR LANDS OR
LEASEHOLDS PRODUCING OIL OR GAS
;
(II)  A
N AMOUNT TO PROVIDE FOR THE PAYMENT OF BONDS AND
INTEREST THEREON
, OR FOR THE PAYMENT OF ANY OTHER CONTRACTUAL
PAGE 10-SENATE BILL 23-303 OBLIGATION THAT HAS BEEN APPROVED BY A MAJORITY OF THE LOCAL
GOVERNMENT
'S VOTERS VOTING THEREON AT ANY ELECTION HELD BEFORE ,
ON, OR AFTER NOVEMBER 7, 2023; AND
(III)  ANY REVENUE FROM A MILL LEVY THAT HAS BEEN APPROVED BY
VOTERS OF THE LOCAL GOVERNMENT
, WITHOUT LIMITATION AS TO RATE OR
AMOUNT
, AT ANY ELECTION HELD BEFORE , ON, OR AFTER NOVEMBER 7,
2023.
(c)  A
 TEMPORARY PROPERTY TAX CREDIT CREATED UNDER
SUBSECTION 
(2)(a) OF THIS SECTION DOES NOT CHANGE THE UNDERLYING
MILL LEVY IMPOSED BY A LOCAL GOVERNMENT
. REDUCING OR ELIMINATING
A TEMPORARY PROPERTY TAX CREDIT DOES NOT REQUIRE PRIOR VOTER
APPROVAL UNDER SECTION 
20 (4)(a) OF ARTICLE X OF THE STATE
CONSTITUTION
.
(4)  A
 LOCAL GOVERNMENT MAY IMPOSE A MILL LEVY THAT WOULD
EXCEED THE PROPERTY TAX LIMIT IF THE FOLLOWING PROCEDURES ARE
FOLLOWED
:
(a)  T
HE GOVERNING BODY OF THE LOCAL GOVERNMENT MUST
PUBLISH NOTICE OF ITS PROPOSED INTENT TO EXCEED THE PROPERTY TAX
LIMIT IN A NEWSPAPER IN EACH COUNTY IN WHICH THE LOCAL GOVERNMENT
IS LOCATED AND ON THE WEBSITE OF THE GOVERNING BODY
, IF THE
GOVERNING BODY MAINTAINS A WEBSITE
, AT LEAST TEN DAYS IN ADVANCE
OF THE PUBLIC HEARING AT WHICH THE MILL LEVY IS TO BE APPROVED
;
(b)  T
HE NOTICE MUST INCLUDE:
(I)  T
HE PROPOSED MILL LEVY IF THE GOVERNING BODY APPROVES A
MILL LEVY THAT WOULD EXCEED THE PROPERTY TAX LIMIT
;
(II)  A
NY TEMPORARY PROPERTY TAX CREDITS ; AND
(III)  THE DATE, TIME, AND LOCATION OF THE PUBLIC HEARING;
(c)  T
HE GOVERNING BODY OF THE LOCAL GOVERNMENT MUST
PROVIDE THE PUBLIC AN OPPORTUNITY TO PRESENT ORAL TESTIMONY AT AN
OPEN MEETING WITHIN REASONABLE TIME LIMITS AND WITHOUT AN
UNREASONABLE RESTRICTION ON THE NUMBER OF INDIVI DUALS ALLOWED TO
PAGE 11-SENATE BILL 23-303 MAKE PUBLIC COMMENT ; AND
(d)  THE GOVERNING BODY OF THE LOCAL GOVERNMENT MUST ADOPT
A RESOLUTION OR ORDINANCE TO APPROVE A MILL LEVY THAT EXCEEDS THE
PROPERTY TAX LIMIT AT THE PUBLIC HEARING AFTER THE GOVERNING BODY
HAS HEARD FROM INTERESTED TAXPAYERS
.
(5)  T
HE FINAL DECISION BY A GOVERNING B ODY TO IMPOSE A MILL
LEVY THAT EXCEEDS THE PROPERTY TAX LIMIT IN ACCORDANCE WITH THE
PROCEDURES SET FORTH IN SUBSECTION 
(4) OF THIS SECTION IS DEEMED TO
BE FINAL AND CONCLUSIVE AND IS NOT SUBJECT TO APPEAL TO COURT
.
(6)  I
F A LOCAL GOVERNMENT EXCEEDS THE PROPERTY TAX LIMIT FOR
A PROPERTY TAX YEAR AND DOES NOT COMPLY WITH SUBSECTION 
(4) OF THIS
SECTION
, THEN THE LOCAL GOVERNMENT SHALL REF UND TO TAXPAYERS ANY
PROPERTY TAXES COLLECTED ABOVE THE PROPERTY TAX LIMIT
.
SECTION 7. In Colorado Revised Statutes, 39-1-103, add (5)(g)
as follows:
39-1-103.  Actual value determined - when - legislative
declaration. (5) (g)  F
OR PROPERTY TAX YEARS COMMENCING ON AND
AFTER 
JANUARY 1, 2024, THE ACTUAL VALUE OF RENEWABLE ENERGY
AGRICULTURAL LAND IS BASED ON THE WASTE LAND SUBCLASS VALUATION
FORMULA PROVIDED BY THE ADMINISTRATOR
. IF ANY PORTION OF THE LAND
IS USED FOR NONAGRICULTURAL COMMERCIAL OR NONAGRICULTURAL
RESIDENTIAL PURPOSES
, THAT PORTION IS VALUED ACCORDING TO THE USE ,
AS REQUIRED BY SUBSECTION (5)(a) OF THIS SECTION.
SECTION 8. In Colorado Revised Statutes, 39-1-104, amend (1),
(1.6)(c), and (1.8); and add (1.9) as follows:
39-1-104.  Valuation for assessment - definitions. (1) (a)  E
XCEPT
AS SET FORTH IN SUBSECTION
 (1)(b) OF THIS SECTION, the valuation for
assessment of all taxable property
 REAL AND PERSONAL PROPERTY THAT IS
CLASSIFIED AS LODGING PROPERTY
 in the state shall be
 IS twenty-nine
percent of the actual value thereof. as determined by the assessor and the
administrator in the manner prescribed by law, and that percentage shall be
uniformly applied, without exception, to the actual value, so determined, of
the real and personal property located within the territorial limits of the
PAGE 12-SENATE BILL 23-303 authority levying a property tax, and all property taxes shall be levied
against the aggregate valuation for assessment resulting from the
application of that percentage.
(b) (I)  Notwithstanding subsection (1)(a) of this section, For the
property tax year commencing on January 1, 2023, the valuation for
assessment of nonresidential property that is classified as lodging property
is temporarily reduced to twenty-seven and nine-tenths
 TWENTY-SEVEN AND
EIGHTY
-FIVE ONE-HUNDREDTHS percent of an amount equal to the actual
value minus the lesser of thirty thousand dollars or the amount that reducesCAUSES the valuation for assessment to BE one thousand dollars.
(II)  F
OR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER
JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2027, THE VALUATION FOR
ASSESSMENT OF REAL AND PERSONAL PROPERTY THAT IS CLASSIFIED AS
LODGING PROPERTY IS TEMPORARILY REDUCED TO TWENTY
-SEVEN AND
EIGHTY
-FIVE ONE-HUNDREDTHS PERCENT OF THE ACTUAL VALUE THEREOF .
(III)  F
OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
2027,
 AND JANUARY 1, 2028, THE VALUATION FOR ASSESSMENT OF REAL
AND PERSONAL PROPERTY THAT IS CLASSIFIED AS LODGING PROPERTY IS
TEMPORARILY REDUCED TO TWENTY
-SEVEN AND SIXTY -FIVE
ONE
-HUNDREDTHS PERCENT OF THE ACTUAL VALUE THEREOF .
(IV)  F
OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
2029,
 AND JANUARY 1, 2030, THE VALUATION FOR ASSESSMENT OF REAL
AND PERSONAL PROPERTY THAT IS CLASSIFIED AS LODGING PROPERTY IS
TEMPORARILY REDUCED TO TWENTY
-SIX AND NINE-TENTHS PERCENT OF THE
ACTUAL VALUE THEREOF
.
(V)  F
OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
2031,
 AND JANUARY 1, 2032, THE VALUATION FOR ASSESSMENT OF REAL
AND PERSONAL PROPERTY THAT IS CLASSIFIED AS LODGING PROPERTY IS
TEMPORARILY REDUCED TO
:
(A)  T
WENTY-FIVE AND NINE-TENTHS PERCENT OF THE ACTUAL
VALUE THEREOF
, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON
JANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR
ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY
-TWO
COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS GREATER
PAGE 13-SENATE BILL 23-303 THAN OR EQUAL TO THREE AND SEVEN -TENTHS PERCENT FROM THE PRIOR
PROPERTY TAX YEAR
; OR
(B)  TWENTY-SIX AND NINE-TENTHS PERCENT OF THE ACTUAL VALUE
THEREOF
, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
2031,
 THE AVERAGE INCREASE IN TOTAL VALUATION FOR ASSESSMENT OF
TAXABLE REAL PROPERTY WITHIN THE THIRTY
-TWO COUNTIES WITH THE
SMALLEST INCREASES IN TOTAL VALUATION IS LESS THAN THREE AND
SEVEN
-TENTHS PERCENT FROM THE PRIOR PROPERTY TAX YEAR .
(c)  This subsection (1) only applies to nonresidential property that
is classified as lodging property.
(1.6) (c)  Real and personal agricultural property is a subclass of
nonresidential property for purposes of the valuation for assessment. R
EAL
PROPERTY THAT IS CLASSIFIED AS AGRICULTURAL LAND THAT CONTAINS A
RENEWABLE ENERGY FACILITY
, AS DESCRIBED IN SECTION 39-4-102 (1.5), IF
THE LAND WAS CLASSIFIED BY THE ASSESSOR AS AGRICULTURAL LAND AT
THE TIME THE FACILITY WAS CONSTRUCTED UNDER SECTION 
39-1-102
(1.6)(a), 
IS CLASSIFIED AS RENEWABLE ENERGY AGRICULTURAL LAND , WHICH
IS A SUBCLASS OF AGRICULTURAL PROPERTY FOR PURPOSES OF THE
VALUATION FOR ASSESSMENT
. THIS CLASSIFICATION APPLIES FOR A
PROPERTY TAX YEAR THAT THE REAL PROPERTY IS STILL USED FOR
AGRICULTURAL PURPOSES AND TO THE PORTION OF THE L AND THAT IS
ATTRIBUTABLE TO OR USED IN CONJUNCTION WITH THE RENEWABLE ENERGY
FACILITY
.
(1.8) (a) The valuation for assessment of real and personal property
that is classified as agricultural property or renewable energy production
property is twenty-nine percent of the actual value thereof; except that
 THE
VALUATION FOR ASSESSMENT OF THIS PROPERTY IS TEMPORARILY REDUCED
AS FOLLOWS
:
(I)  For 
THE property tax years commencing on January 1, 2022, AND
January 1, 2023, and January 1, 2024,
 the valuation for assessment of this
property is temporarily reduced to twenty-six and four-tenths percent of the
actual value thereof;
(II)  F
OR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER
JANUARY 1, 2024,  BUT BEFORE JANUARY 1, 2031, THE VALUATION FOR
PAGE 14-SENATE BILL 23-303 ASSESSMENT OF THIS PROPERTY , EXCLUDING RENEWABLE ENERGY
AGRICULTURAL LAND
, IS TWENTY-SIX AND FOUR-TENTHS PERCENT OF THE
ACTUAL VALUE THEREOF
;
(III)  F
OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
2031,
 AND JANUARY 1, 2032, THE VALUATION FOR ASSESSMENT OF THIS
PROPERTY
, EXCLUDING RENEWABLE ENERGY AGRICULTURAL LAND , IS:
(A)  T
WENTY-FIVE AND NINE-TENTHS PERCENT OF THE ACTUAL
VALUE THEREOF
, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON
JANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR
ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY
-TWO
COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS GREATER
THAN OR EQUAL TO THREE AND SEVEN
-TENTHS PERCENT FROM THE PRIOR
PROPERTY TAX YEAR
; OR
(B)  TWENTY-SIX AND FOUR-TENTHS PERCENT OF THE ACTUAL VALUE
THEREOF
, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
2031,
 THE AVERAGE INCREASE IN TOTAL VALUATION FOR ASSESSMENT OF
TAXABLE REAL PROPERTY WITHIN THE THIRTY
-TWO COUNTIES WITH THE
SMALLEST INCREASES IN TOTAL VALUATION IS LESS THAN THREE AND
SEVEN
-TENTHS PERCENT FROM THE PRIOR PROPERTY TAX YEAR ; AND
(IV)  FOR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER
JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2033, THE VALUATION FOR
ASSESSMENT OF RENEWABLE ENERGY AGRICULTURAL LAND IS TWENTY
-ONE
AND NINE
-TENTHS PERCENT OF THE ACTUAL VALUE THEREOF .
(b)  The valuation for assessment of all nonresidential property that
is not specified in subsection (1) or (1.8)(a) of this section is twenty-nine
percent of the actual value thereof; except that for the property tax year
commencing on January 1, 2023, the valuation for assessment of this
property is temporarily reduced to:
(I)  F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
2023, for all of the property listed by the assessor under any improved
commercial subclass codes, twenty-seven and nine-tenths
 EIGHTY-FIVE
ONE
-HUNDREDTHS percent of an amount equal to the actual value minus the
lesser of thirty thousand dollars or the amount that reduces
 CAUSES the
valuation for assessment to 
BE one thousand dollars; and
PAGE 15-SENATE BILL 23-303 (II)  FOR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
2023,
 twenty-seven and nine-tenths
 EIGHTY-FIVE ONE-HUNDREDTHS percent
of the actual value of all other nonresidential property that is not specified
in subsections
 SUBSECTION (1), (1.8)(a), and OR (1.8)(b)(I) of this section;
(III)  F
OR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER
JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2027, TWENTY-SEVEN AND
EIGHTY
-FIVE ONE-HUNDREDTHS PERCENT OF THE ACTUAL VALUE OF ALL
OTHER NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED IN SUBSECTION
(1) OR (1.8)(a) OF THIS SECTION OR THAT IS NOT UNDER A VACANT LAND
SUBCLASS
;
(IV)  F
OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
2027,
 AND JANUARY 1, 2028, TWENTY-SEVEN AND SIXTY -FIVE
ONE
-HUNDREDTHS PERCENT OF THE ACTUAL VALUE OF ALL OTHER
NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED IN SUBSECTION 
(1) OR
(1.8)(a) OF THIS SECTION OR THAT IS NOT UNDER A VACANT LAND SUBCLASS ;
(V)  F
OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
2029,
 AND JANUARY 1, 2030, TWENTY-SIX AND NINE-TENTHS PERCENT OF
THE ACTUAL VALUE OF ALL OTHER NONRESIDENTIAL PROPERTY THAT IS NOT
SPECIFIED IN SUBSECTION 
(1) OR (1.8)(a) OF THIS SECTION OR THAT IS NOT
UNDER A VACANT LAND SUBCLASS
; AND
(VI)  FOR THE PROPERTY TAX YEARS COMMENCING ON JANUARY 1,
2031,
 AND JANUARY 1, 2032:
(A)  T
WENTY-FIVE AND NINE-TENTHS PERCENT OF THE ACTUAL
VALUE OF ALL OTHER NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED IN
SUBSECTION 
(1) OR (1.8)(a) OF THIS SECTION OR THAT IS NOT UNDER A
VACANT LAND SUBCLASS
, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON
JANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR
ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY
-TWO
COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS GREATER
THAN OR EQUAL TO THREE AND SEVEN
-TENTHS PERCENT FROM THE PRIOR
PROPERTY TAX YEAR
; OR
(B)  TWENTY-SIX AND NINE-TENTHS PERCENT OF THE ACTUAL VALUE
OF ALL OTHER NONRESIDENTIAL PROPERTY THAT IS NOT SPECIFIED IN
SUBSECTION 
(1) OR (1.8)(a) OF THIS SECTION OR THAT IS NOT UNDER A
PAGE 16-SENATE BILL 23-303 VACANT LAND SUBCLASS, IF, FOR THE PROPERTY TAX YEAR COMMENCING ON
JANUARY 1, 2031, THE AVERAGE INCREASE IN TOTAL VALUATION FOR
ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN THE THIRTY
-TWO
COUNTIES WITH THE SMALLEST INCREASES IN TOTAL VALUATION IS LESS
THAN THREE AND SEVEN
-TENTHS PERCENT FROM THE PRIOR PROPERTY TAX
YEAR
.
(b.5) (I)  F
OR PURPOSES OF SUBSECTIONS (1)(b)(V), (1.8)(a)(III), AND
(1.8)(b)(VI) OF THIS SECTION, THE TOTAL VALUATION FOR ASSESSMENT OF
TAXABLE REAL PROPERTY FOR ASSESSMENT EXCLUDES THE VALUATION FOR
ASSESSMENT FROM PRODUCING MINES AND LANDS OR LEASEHOLDS
PRODUCING OIL OR GAS
.
(II)  T
HE ADMINISTRATOR SHALL CALCULATE THE AVERAGE INCREASE
IN TOTAL VALUATION FOR ASSESSMENT OF TAXABLE REAL PROPERTY WITHIN
THE THIRTY
-TWO COUNTIES WITH THE SMALLEST INCREASES IN TOTAL
VALUATION FOR PURPOSES OF SUBSECTIONS
 (1)(b)(V), (1.8)(a)(III), AND
(1.8)(b)(VI) OF THIS SECTION BASED ON INFORMATION PROVIDED BY
COUNTY ASSESSORS IN ACCOR DANCE WITH SUBSECTION
 (1.8)(b.5)(III) OF
THIS SECTION AND THE ABSTRACT OF ASSESSMENT FOR THE PROPERTY TAX
YEAR COMMENCING ON 
JANUARY 1, 2030.
(III)  N
O LATER THAN MAY 5, 2031, EACH ASSESSOR SHALL PROVIDE
THE ADMINISTRATOR WITH AN ESTIMATE OF THE TOTAL VALUATION FOR
ASSESSMENT OF TAXABLE REAL PROPERTY LOCATED WITHIN THE COUNTY
BASED ON THE NOTICES OF VALUATION FOR THE PROPERTY TAX YEAR
.
(IV)  O
N OR BEFORE JULY 1, 2031, THE ADMINISTRATOR SHALL
PUBLISH ON THE WEBSITE MAINTAINED BY THE DIVISION OF PROPERTY
TAXATION IN THE DEPARTMENT OF LOCAL AFFAIRS WHETHER THE RATES SET
FORTH IN SUBSECTIONS
 (1)(b)(V)(A), (1.8)(a)(III)(A), AND (1.8)(b)(VI)(A)
OF THIS SECTION APPLY OR WHETHER THE RATES SET FORTH IN SUBSECTIONS
(1)(b)(V)(B), (1.8)(a)(III)(B), AND (1.8)(b)(VI)(B) OF THIS SECTION APPLY
FOR PROPERTY TAX YEARS COMMENCING ON 
JANUARY 1, 2031, AND
JANUARY 1, 2032.
(c)  The actual value of real and personal property specified in
subsection (1.8)(a) or (1.8)(b)
 SUBSECTION (1), (1.8)(a), OR (1.8)(b) of this
section is determined by the assessor and the administrator in the manner
prescribed by law, and a valuation for assessment percentage is uniformly
PAGE 17-SENATE BILL 23-303 applied, without exception, to the actual value, AS so determined OR AS SO
DETERMINED AND THEN REDUCED
, of the various classes and subclasses of
real and personal property located within the territorial limits of the
authority levying a property tax, and all property taxes are levied against the
aggregate valuation for assessment resulting from the application of the
percentage.
(d)  As used in this section, unless the context otherwise requires,
"nonresidential property" means all taxable real and personal property in the
state other than residential real property, producing mines, or lands or
leaseholds producing oil or gas. Nonresidential property includes the
subclasses of agricultural property, lodging property, and renewable energy
production property, for purposes of the ratio of
 valuation for assessment.
(1.9) (a)  T
HE TEMPORARY REDUCTIONS IN THE VALUATIONS FOR
ASSESSMENT SET FORTH IN SUBSECTIONS
 (1)(b) AND (1.8) OF THIS SECTION
MADE IN 
SENATE BILL 23-303 ARE CONTINGENT ON THE STATE'S AUTHORITY
TO RETAIN AND SPEND STATE SURPLUS UP TO THE PROPOSITION 
HH CAP
UNDER PART 
2 OF ARTICLE 77 OF TITLE 24. NOTWITHSTANDING ANY
PROVISION OF SUBSECTIONS
 (1)(b) AND (1.8) OF THIS SECTION TO THE
CONTRARY
, IF, FOR A FISCAL YEAR COMMENCING ON OR AFTER JULY 1, 2023,
THE STATE IS NOT PERMITTED TO RETAIN AND SPEND STATE SURPLUS UP TO
THE PROPOSITION 
HH CAP FOR THE FISCAL YEAR FOR ANY REASON ,
EXCLUDING A LEGISLATIVE ENACTMENT BY THE GENERAL ASSEMBLY , THEN
FOR THE PROPERTY TAX YEAR THAT BEGINS DURING THE FISCAL YEAR AND
ALL PROPERTY TAX YEARS THEREAFTER
, THE TEMPORARY REDUCTIONS IN
THE VALUATION FOR ASSESSMENT SET FORTH IN SUBSECTIONS 
(1)(b) AND
(1.8) OF THIS SECTION MADE IN SENATE BILL 23-303 DO NOT APPLY.
(b)  T
HE STATE CONTROLLER SHALL NOTIFY THE ADMINISTRATOR IF
SUBSECTION 
(1.9)(a) OF THIS SECTION APPLIES, AND THE ADMINISTRATOR
SHALL PUBLISH NOTICE ON THE WEBSITE MAINTAINED BY THE DIVISION OF
PROPERTY TAXATION IN THE DEPARTMENT OF LOCAL AFFAIRS THAT THE
APPLICABLE TEMPORARY REDUCTIONS SET FORTH IN SUBSECTIONS
 (1)(b)
AND (1.8) OF THIS SECTION MADE IN SENATE BILL 23-303 DO NOT APPLY.
SECTION 9. In Colorado Revised Statutes, 39-1-104.2, amend
(3)(q) and (3)(r); and add (1)(a.3), (1)(a.7), (3.5), and (3.7) as follows:
39-1-104.2.  Residential real property - valuation for assessment
PAGE 18-SENATE BILL 23-303 - legislative declaration - definitions. (1)  As used in this section, unless
the context otherwise requires:
(a.3)  "P
RIMARY RESIDENCE REAL PROPERTY" MEANS PROPERTY THAT
IS CLASSIFIED AS SUCH UNDER SECTION 
39-1-104.6.
(a.7)  "Q
UALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY "
MEANS PROPERTY THAT IS CLASSIFIED AS SUCH UNDER SECTION 39-1-104.7
(2).
(3) (q)  The ratio of
 valuation for assessment for multi-family
residential real property is 7.15 percent of 
THE actual value THEREOF for
property tax years commencing on or after January 1, 2019; except that 
THE
VALUATION FOR ASSESSMENT IS TEMPORARILY REDUCED AS FOLLOWS
:
(I)  For the property tax years
 YEAR commencing on January 1, 2022,
and January 1, 2024, the ratio of valuation for assessment for multi-family
residential real property is temporarily reduced to 6.8 percent of THE actual
value 
THEREOF;
(II)  For the property tax year commencing on January 1, 2023, the
ratio of
 valuation for assessment for multi-family residential real property
is temporarily reduced to 6.765 percent 6.7 PERCENT of THE AMOUNT EQUAL
TO THE
 actual value OF THE PROPERTY MINUS THE LESSER OF FIFTY
THOUSAND DOLLARS OR THE AMOUNT THAT CAUSES THE VALUATION FOR
ASSESSMENT OF THE PROPERTY TO BE ONE THOUSAND DOLLARS
; AND
(III)  FOR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER
JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2033, THE VALUATION FOR
ASSESSMENT FOR MULTI
-FAMILY RESIDENTIAL REAL PROPERTY IS 6.7
PERCENT OF THE AMOUNT EQUAL TO THE ACTUAL VALUE OF THE PROPERTY
MINUS THE LESSER OF FORTY THOUSAND DOLLARS OR THE AMOUNT THAT
CAUSES THE VALUATION FOR ASSESSMENT OF THE PROPERTY TO BE ONE
THOUSAND DOLLARS
.
(r)  The ratio of
 valuation for assessment for all residential real
property other than multi-family residential real property is 7.15 percent of
THE actual value THEREOF; except that THE VALUATION FOR ASSESSMENT IS
TEMPORARILY REDUCED AS FOLLOWS
:
PAGE 19-SENATE BILL 23-303 (I)  For the property tax year commencing on January 1, 2022, the
ratio of valuation for assessment for all residential real property other than
multi-family residential real property is temporarily reduced to 6.95 percent
of 
THE actual value THEREOF;
(II)  For the property tax year commencing on January 1, 2023, the
ratio of
 valuation for assessment for all residential real property other than
multi-family residential real property is 6.765 percent 6.7 PERCENT of THE
AMOUNT EQUAL TO THE
 actual value and
 OF THE PROPERTY MINUS THE
LESSER OF FIFTY THOUSAND DOLLARS OR THE AMOUNT THAT CAUSES THE
VALUATION FOR ASSESSMENT OF THE PROPERTY TO BE ONE THOUSAND
DOLLARS
;
(III)  For the property tax year commencing on January 1, 2024, the
ratio of
 valuation for assessment for all residential real property other than
multi-family residential real property is temporarily established as the
percentage calculated in accordance with section 39-1-104.4 6.7 PERCENT
OF THE AMOUNT EQUAL TO THE ACTUAL VALUE OF THE PROPERTY MINUS THE
LESSER OF FORTY THOUSAND DOLLARS OR THE AMOUNT THAT CAUSES THE
VALUATION FOR ASSESSMENT OF THE PROPERTY TO BE ONE THOUSAND
DOLLARS
; AND
(IV)  FOR PROPERTY TAX YEARS COMMENCING ON AND AFTER
JANUARY 1, 2025, BUT BEFORE JANUARY 1, 2033:
(A)
  THE VALUATION FOR ASSESSMENT FOR PRIMARY RESIDENCE REAL
PROPERTY
, INCLUDING MULTI-FAMILY PRIMARY RESIDENCE REAL PROPERTY ,
IS 6.7 PERCENT OF THE AMOUNT EQUAL TO THE ACTUAL VALUE OF THE
PROPERTY MINUS THE LESSER OF FORTY THOUSAND DOLLARS OR THE
AMOUNT THAT CAUSES THE VALUATION FOR ASSESSMENT OF THE PROPERTY
TO BE ONE THOUSAND DOLLARS
;
(B)  T
HE VALUATION FOR ASSESSMENT FOR QUALIFIED -SENIOR
PRIMARY RESIDENCE REAL PROPERTY
, INCLUDING MULTI -FAMILY
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY , IS 6.7 PERCENT OF
THE AMOUNT EQUAL TO THE ACTUAL VALUE OF THE PROPERTY MINUS THE
LESSER OF ONE HUNDRED FORTY THOUS AND DOLLARS OR THE AMOUNT THAT
CAUSES THE VALUATION FOR ASSESSMENT OF THE PROPERTY TO BE ONE
THOUSAND DOLLARS
; AND
PAGE 20-SENATE BILL 23-303 (C)  THE VALUATION FOR ASSESSMENT FOR ALL RESIDENTIAL REAL
PROPERTY THAT IS NOT SPECIFIED IN SUBSECTION
 (3)(q)(III), (3)(r)(IV)(A),
OR (3)(r)(IV)(B) OF THIS SECTION IS 6.7 PERCENT OF THE ACTUAL VALUE
THEREOF
.
(3.5) (a)  T
HE TEMPORARY REDUCTIONS IN THE VALUATIONS FOR
ASSESSMENT SET FORTH IN SUBSECTION
 (3) OF THIS SECTION MADE IN
SENATE BILL 23-303 ARE CONTINGENT ON THE STATE 'S AUTHORITY TO
RETAIN AND SPEND STATE SURPLUS UP TO THE PROPOSITION 
HH CAP UNDER
PART 
2 OF ARTICLE 77 OF TITLE 24. NOTWITHSTANDING ANY PROVISION OF
SUBSECTION
 (3) OF THIS SECTION TO THE CONTRARY, IF, FOR A FISCAL YEAR
COMMENCING ON OR AFTER 
JULY 1, 2023, THE STATE IS NOT PERMITTED TO
RETAIN AND SPEND STATE SURPLUS UP TO THE PROPOSITION 
HH CAP FOR THE
FISCAL YEAR FOR ANY REASON
, EXCLUDING A LEGISLATIVE ENACTMENT BY
THE GENERAL ASSEMBLY
, THEN FOR THE PROPERTY TAX YEAR THAT BEGINS
DURING THE FISCAL YEAR AND ALL PROPERTY TAX YEARS THEREAFTER
, THE
TEMPORARY REDUCTIONS IN THE VALUATION FOR ASSESSMENT SET FORTH
IN SUBSECTION 
(3) OF THIS SECTION MADE IN SENATE BILL 23-303 DO NOT
APPLY
.
(b)  T
HE STATE CONTROLLER SHALL NOTIFY THE ADMINISTRATOR IF
SUBSECTION 
(3.5)(a) OF THIS SECTION APPLIES, AND THE ADMINISTRATOR
SHALL PUBLISH NOTICE ON THE WEBSITE MAINTAINED BY THE DIVISION OF
PROPERTY TAXATION IN THE DEPARTMENT OF LOCAL AFFAIRS THAT THE
APPLICABLE TEMPORARY REDUCTIONS SET FORTH IN SUBSECTION 
(3) OF THIS
SECTION MADE IN 
SENATE BILL 23-303 DO NOT APPLY.
(3.7) (a)  T
HE ADMINISTRATOR SHALL CONVENE A WORKING GROUP
WITH REPRESENTATIVES
, INCLUDING ASSESSORS AND ELECTED COUNTY
OFFICIALS FROM SMALL
-, MEDIUM-, AND LARGE-SIZED COUNTIES AND A
REPRESENTATIVE OF A STATEWIDE ORGANIZATION OF REAL ESTATE
PROFESSIONALS
, TO MAKE RECOMMENDATIONS ABOUT WAYS TO STREAMLINE
AND IMPROVE THE DESIGNATION OF THE PRIMARY RESIDENCE REAL
PROPERTY IN THE EVENT THAT VOTERS APPROVE THE BALLOT ISSUE
REFERRED IN ACCORDANCE WITH SECTION 
24-77-202. IN FORMULATING ITS
RECOMMENDATIONS
, THE WORKING GROUP SHALL CONSIDER INFORMATION
TECHNOLOGY NEEDS AND ADMINISTRATIVE IMPACTS
. ON OR BEFORE
JANUARY 1, 2024, THE WORKING GROUP SHALL PROVIDE A REPORT OF ITS
RECOMMENDATIONS TO THE SENATE LOCAL GOVERNMENT AND HOUSING
COMMITTEE
, AND THE HOUSE OF REPRESENTATIVES TRANSPORTATION ,
PAGE 21-SENATE BILL 23-303 HOUSING, AND LOCAL GOVERNMENT COMMITTEE ; EXCEPT THAT NO REPORT
IS DUE IF THE BALLOT ISSUE DOES NOT PASS
.
(b)  T
HIS SUBSECTION (3.7) IS REPEALED, EFFECTIVE JULY 1, 2024.
SECTION 10. In Colorado Revised Statutes, repeal 39-1-104.3 and
39-1-104.4 as follows:
39-1-104.3.  Partial real property tax reductions - residential
property - definitions - repeal. (1)  As used in this section, unless the
context otherwise requires, "residential real property" means property listed
by the assessor under any residential real property classification code.
(2)  For the property tax year commencing on January 1, 2023,the
valuation for assessment for residential real property is six and seven
hundred sixty-five thousandths percent, as set forth in section 39-1-104.2
(3)(q)(II) and (3)(r)(II), of the amount equal to the actual value, determined
pursuant to section 39-1-103, minus the lesser of fifteen thousand dollars
or the amount that reduces the valuation for assessment to one thousand
dollars.
(3)  This adjustment does not apply to any other class of property.
(4)  This section is repealed, effective July 1, 2025.
39-1-104.4.  Adjustment of residential rate. (1)  The ratio of
valuation for assessment for residential real property other than multi-family
residential real property for the property tax year commencing on January
1, 2024, is equal to the percentage necessary for the following to equal a
total of seven hundred million dollars:
(a)  The aggregate reduction of local government property tax
revenue during the property tax year commencing on January 1, 2023, as a
result of the changes made in Senate Bill 22-238, enacted in 2022, that
reduced valuations for assessment set forth pursuant to sections 39-1-104
(1)(b) and (1.8)(b), 39-1-104.2 (3)(q)(II) and (3)(r)(II), and 39-3-104.3 (2);
and
(b)  The aggregate reduction of local government property tax
revenue during the property tax year commencing on January 1, 2024, as a
PAGE 22-SENATE BILL 23-303 result of the reduced valuations for assessment set forth pursuant to sections
39-1-104 (1.8)(a) and 39-1-104.2 (3)(q)(I) and (3)(r)(III) for the property
tax year commencing on January 1, 2024.
(2)  On or before March 21, 2024, based on the information available
on that date, the property tax administrator shall submit a report to the
general assembly calculating the ratio of valuation for assessment specified
in subsection (1) of this section.
SECTION 11. In Colorado Revised Statutes, add 39-1-104.6 and
39-1-104.7 as follows:
39-1-104.6.  Primary residence real property. (1)  Definitions. A
S
USED IN THIS SECTION
, UNLESS THE CONTEXT OTHERWISE REQUIRES :
(a) (I)  "O
WNER-OCCUPIER" MEANS AN INDIVIDUAL WHO:
(A)  I
S AN OWNER OF RECORD OF RESIDENTIAL REAL PROPERTY THAT
THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL
'S PRIMARY RESIDENCE;
(B)  I
S NOT AN OWNER OF RECORD OF THE RESIDENTIAL REAL
PROPERTY THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL
'S PRIMARY
RESIDENCE
, BUT EITHER IS A SPOUSE OR CIVIL UNION PARTNER OF AN OWNER
OF RECORD OF THE RESIDENTIAL REAL PROPERTY AND WHO ALSO OCCUPIES
THE RESIDENTIAL REAL PROPERTY AS THE OWNER OF RECORD
'S PRIMARY
RESIDENCE
, OR IS THE SURVIVING SPOUSE OR PARTNER OF AN INDIVIDUAL
WHO WAS AN OWNER OF RECORD OF THE RESIDENTIAL REAL PROPERTY AND
WHO OCCUPIED THE RESIDENTIAL REAL PROPERTY WITH THE SURVIVING
SPOUSE OR PARTNER AS THEIR PRIMARY RESIDENCE UNTIL THE OWNER OF
RECORD
'S DEATH; OR
(C)  IS NOT AN OWNER OF RECORD OF THE RESIDENTIAL REAL
PROPERTY THAT THE INDIVIDUAL OCCUPIES AS THE INDIVIDUAL
'S PRIMARY
RESIDENCE
, ONLY BECAUSE THE PROPERTY HAS BEEN PURCHASED BY OR
TRANSFERRED TO A TRUST
, A CORPORATE PARTNERSHIP , OR ANY OTHER
LEGAL ENTITY SOLELY FOR ESTATE PLANNING PURPOSES AND IS THE MAKER
OF THE TRUST OR A PRINCIPAL OF THE CORPORATE PARTNERSHIP OR OTHER
LEGAL ENTITY
;
(D)  O
CCUPIES RESIDENTIAL REAL PROPERTY AS THE INDIVIDUAL 'S
PAGE 23-SENATE BILL 23-303 PRIMARY RESIDENCE AND IS THE SPOUSE OR CIVIL UNION PARTNER OF A
PERSON WHO ALSO OCCUPIES THE RESIDENTIAL REAL PROPERTY
, WHO IS NOT
THE OWNER OF RECORD OF THE PROPERTY ONLY BECAUSE THE PROPERTY
HAS BEEN PURCHASED BY OR TRANSFERRED TO A TRUST
, A CORPORATE
PARTNERSHIP
, OR ANY OTHER LEGAL ENTITY SOLELY FOR ESTATE PLANNING
PURPOSES
, AND WHO IS THE MAKER OF THE TRUST OR A PRINCIPAL OF THE
CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY
; OR
(E)  OCCUPIES RESIDENTIAL REAL PROPERTY AS THE INDIVIDUAL 'S
PRIMARY RESIDENCE AND IS THE SURVIVING SPOUSE OR PARTNER OF A
PERSON WHO OCCUPIED THE RESIDENTIAL REAL PROPERTY WITH THE
SURVIVING SPOUSE OR PARTNER UNTIL THE PERSON
'S DEATH, WHO WAS NOT
THE OWNER OF RECORD OF THE PROPERTY AT THE TIME OF THE PERSON
'S
DEATH ONLY BECAUSE THE PROPERTY HAD BEEN PURCHASED BY OR
TRANSFERRED TO A TRUST
, A CORPORATE PARTNERSHIP , OR ANY OTHER
LEGAL ENTITY SOLELY FOR ESTATE PLANNING PURPOSES PRIOR TO THE
PERSON
'S DEATH, AND WHO WAS THE MAKER OF THE TRUST OR A PRINCIPAL
OF THE CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY PRIOR TO THE
PERSON
'S DEATH.
(II)  "O
WNER-OCCUPIER" ALSO INCLUDES ANY INDIVIDUAL WHO, BUT
FOR THE CONFINEMENT OF THE INDIVIDUAL TO A HOSPITAL
, NURSING HOME,
OR ASSISTED LIVING FACILITY, WOULD OCCUPY THE RESIDENTIAL REAL
PROPERTY AS THE INDIVIDUAL
'S PRIMARY RESIDENCE AND WOULD MEET ONE
OR MORE OF THE OWNERSHIP CRITERIA SPECIFIED IN SUBSECTION
 (1)(a)(I) OF
THIS SECTION
, IF THE RESIDENTIAL REAL PROPERTY:
(A)  I
S TEMPORARILY UNOCCUPIED ; OR
(B)  IS OCCUPIED BY THE SPOUSE , CIVIL UNION PARTNER, OR A
FINANCIAL DEPENDENT OF THE INDIVIDUAL
.
(b)  "O
WNER OF RECORD" MEANS AN INDIVIDUAL WHOSE NAME
APPEARS ON A VALID RECORDED DEED TO RESIDENTIAL REAL PROPERTY AS
AN OWNER OF THE PROPERTY
.
(c)  "Q
UALIFIED-SENIOR PRIMARY RESIDENCE REAL PROPERTY "
MEANS A PROPERTY THAT IS CLASSIFIED AS SUCH UNDER SECTION
39-1-104.7.
PAGE 24-SENATE BILL 23-303 (d)  "SURVIVING SPOUSE OR PARTNER" MEANS AN INDIVIDUAL WHO
WAS LEGALLY MARRIED TO ANOTHER INDIVIDUAL
, OR WAS A PARTNER IN A
CIVIL UNION WITH ANOTHER INDIVIDUAL
, AT THE TIME OF THE OTHER
INDIVIDUAL
'S DEATH AND WHO HAS NOT REMARRIED OR ENTERED INTO
ANOTHER CIVIL UNION
.
(2)  Classification. (a)  E
XCEPT AS SET FORTH IN SECTION
39-1-104.7, FOR PROPERTY TAX YEARS COMMENCING ON AND AFTER
JANUARY 1, 2025, RESIDENTIAL REAL PROPERTY THAT AS OF THE
ASSESSMENT DATE IS USED AS THE PRIMARY RESIDENCE OF AN
OWNER
-OCCUPIER IS CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY ,
WHICH IS A SUBCLASS OF RESIDENTIAL REAL PROPERTY , IF:
(I)  T
HE OWNER-OCCUPIER COMPLETES AND FILES AN APPLICATION IN
THE MANNER REQUIRED BY SUBSECTION 
(3) OF THIS SECTION; AND
(II)  THE CIRCUMSTANCES THAT QUALIFY THE PROPERTY FOR THE
CLASSIFICATION HAVE NOT CHANGED SINCE THE FILING OF THE APPLICATION
.
(b)  U
NDER NO CIRCUMSTANCES IS THE CLASSIFICATION ALLOWED
FOR PROPERTY TAXES ASSESSED DURING ANY PROPERTY TAX YEAR PRIOR TO
THE YEAR IN WHICH AN OWNER
-OCCUPIER FIRST FILES AN APPLICATION IN
THE MANNER REQUIRED BY SUBSECTION 
(3) OF THIS SECTION. IF OWNERSHIP
OF RESIDENTIAL REAL PROPERTY THAT QUALIFIED AS PRIMARY RESIDENCE
REAL PROPERTY AS OF THE ASSESSMENT DATE CHANGES AFTER THE
ASSESSMENT DATE
, THE CLASSIFICATION IS ALLOWED ONLY IF AN
OWNER
-OCCUPIER WHOSE STATUS AS AN OWNER -OCCUPIER QUALIFIED THE
PROPERTY FOR THE CLASSIFICATION HAS FILED AN APPLICATION BY THE
DEADLINE SPECIFIED IN SUBSECTION
 (3)(a) OF THIS SECTION.
(c)  I
F AN INDIVIDUAL OWNS AND OCCUPIES A DWELLING UNIT IN A
COMMON INTEREST COMMUNITY
, AS DEFINED IN SECTION 38-33.3-103 (8), AS
THE INDIVIDUAL
'S PRIMARY RESIDENCE, ONLY THE DWELLING UNIT THAT THE
INDIVIDUAL OCCUPIES AS THE INDIVIDUAL
'S PRIMARY RESIDENCE MAY
QUALIFY AS PRIMARY RESIDENCE REAL PROPERTY OR QUALIFIED
-SENIOR
PRIMARY RESIDENCE REAL PROPERTY
.
(d)  F
OR PURPOSES OF THIS SUBSECTION (2), TWO INDIVIDUALS WHO
ARE LEGALLY MARRIED OR ARE CIVIL UNION PARTNERS
, BUT WHO OWN MORE
THAN ONE PARCEL OF RESIDENTIAL REAL PROPERTY
, ARE DEEMED TO
PAGE 25-SENATE BILL 23-303 OCCUPY THE SAME PRIMARY RESIDENCE AND ONLY THAT PROPERTY MAY BE
CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY
. IF AN INDIVIDUAL IS AN
OWNER
-OCCUPIER OF A RESIDENTIAL REAL PROPERTY AND AN OWNER OF
RECORD ON ANOTHER PROPERTY ALONG WITH A MEMBER OF THE
INDIVIDUAL
'S FAMILY OTHER THAN THE INDIVIDUAL 'S SPOUSE, THEN THE
OTHER FAMILY MEMBER MAY BE AN OWNER
-OCCUPIER OF THE OTHER
PROPERTY
.
(e)  R
EAL PROPERTY THAT MIGHT OTHERWISE BE CLASSIFIED AS
MULTI
-FAMILY RESIDENTIAL REAL PROPERTY THAT CONTAINS A UNIT THAT
QUALIFIES AS PRIMARY RESIDENCE REAL PROPERTY UNDER THIS SECTION IS
CLASSIFIED AS MULTI
-FAMILY PRIMARY RESIDENCE REAL PROPERTY .
(3)  Applications. (a)  F
OR A PROPERTY TO BE CLASSIFIED AS
PRIMARY RESIDENCE REAL PROPERTY OR AS QUALIFIED
-SENIOR PRIMARY
RESIDENCE REAL PROPERTY
, AN INDIVIDUAL MUST FILE WITH THE ASSESSOR
A COMPLETED APPLICATION NO LATER THAN 
MARCH 15 OF THE FIRST
PROPERTY TAX YEAR FOR WHICH THE CLASSIFICATION IS SOUGHT
. AN
APPLICATION RETURNED BY MAIL IS DEEMED FILED ON THE DATE IT IS
POSTMARKED
.
(b) (I)  A
N APPLICANT MUST COMPLETE AN APPLICATION FOR
PROPERTY TO BE CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY OR AS
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY ON A FORM
PRESCRIBED BY THE ADMINISTRATOR THAT INCLUDES THE FOLLOWING
INFORMATION
:
(A)  T
HE APPLICANT'S NAME, MAILING ADDRESS, AND SOCIAL
SECURITY NUMBER
;
(B)  T
HE ADDRESS AND SCHEDULE OR PARCEL NUMBER OF THE
PROPERTY
;
(C)  T
HE NAME AND SOCIAL SECURITY NUMBER OF THE APPLICANT 'S
SPOUSE OR CIVIL UNION PARTNER WHO OCCUPIES THE PROPERTY AS THE
SPOUSE OR CIVIL UNION PARTNER
'S PRIMARY RESIDENCE;
(D)  I
F A TRUST IS THE OWNER OF RECORD OF THE PROPERTY , THE
NAMES OF THE MAKER OF THE TRUST
, THE TRUSTEE, AND THE BENEFICIARIES
OF THE TRUST
;
PAGE 26-SENATE BILL 23-303 (E)  IF A CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY IS THE
OWNER OF RECORD OF THE PROPERTY
, THE NAMES OF THE PRINCIPALS OR THE
CORPORATE PARTNERSHIP OR OTHER LEGAL ENTITY
;
(F)  A
 STATEMENT OF WHETHER THE APPLICANT PREVIOUSLY
QUALIFIED FOR THE PROPERTY TAX EXEMPTION FOR QUALIFYING SENIORS
ALLOWED BY SECTION 
39-3-203 (1) FOR A DIFFERENT PROPERTY THAN THE
PROPERTY THAT THE APPLICANT CURRENTLY OCCUPIES AS THE APPLICANT
'S
PRIMARY RESIDENCE
;
(G)  A
N AFFIRMATION, IN A FORM PRESCRIBED BY THE
ADMINISTRATOR
, THAT THE APPLICANT BELIEVES , UNDER PENALTY OF
PERJURY IN THE SECOND DEGREE AS DEFINED IN SECTION 
18-8-503, THAT ALL
INFORMATION PROVIDED BY THE APPLICANT IS CORRECT
; AND
(H)  ANY OTHER INFORMATION THAT THE ADMINISTRATOR
REASONABLY DEEMS NECESSARY
.
(II)  T
HE ADMINISTRATOR SHALL ALSO INCLUDE IN THE APPLICATION
A STATEMENT THAT AN APPLICANT
, OR, IF APPLICABLE, THE TRUSTEE, HAS A
LEGAL OBLIGATION TO INFORM THE ASSESSOR WITHIN SIXTY DAYS OF ANY
CHANGE IN THE OWNERSHIP OR OCCUPANCY OF THE RESIDENTIAL REAL
PROPERTY FOR WHICH CLASSIFICATION AS PRIMARY RESIDENCE REAL
PROPERTY OR AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY
HAS BEEN APPLIED FOR OR ALLOWED THAT WOULD PREVENT THE
CLASSIFICATION FROM BEING ALLOWED FOR THE PROPERTY
. 
(c)  F
OR PURPOSES OF THE APPLICATION AND RELATED PROVISIONS IN
THIS SECTION
, REAL PROPERTY THAT IS MULTI-FAMILY PRIMARY RESIDENCE
REAL PROPERTY IS TREATED AS PRIMARY RESIDENCE REAL PROPERTY AND
MULTI
-FAMILY QUALIFIED-SENIOR PRIMARY REAL RESIDENCE IS TREATED AS
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY .
(4)  Penalties. (a)  I
N ADDITION TO ANY PENALTIES PRESCRIBED BY
LAW FOR PERJURY IN THE SECOND DEGREE
, AN APPLICANT WHO KNOWINGLY
PROVIDES FALSE INFORMATION ON AN APPLICATION OR ATTEMPTS TO CLAIM
MORE THAN ONE PROPERTY AS PRIMARY RESIDENCE REAL PROPERTY OR
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY FOR THE SAME
PROPERTY TAX YEAR SHALL
:
PAGE 27-SENATE BILL 23-303 (I)  NOT BE ABLE TO CLAIM THE PROPERTY AS PRIMARY RESIDENCE
REAL PROPERTY OR QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY
FOR THE PROPERTY TAX YEAR
;
(II)  P
AY, TO THE TREASURER OF A COUNTY IN WHICH PROPERTY WAS
IMPROPERLY CLASSIFIED AS PRIMARY RESIDENCE REAL PROPERTY OR
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY DUE TO THE
PROVISION BY THE APPLICANT OF FALSE INFORMATION OR THE FILING OF
MORE THAN ONE APPLICATION
, AN AMOUNT EQUAL TO THE AM OUNT OF
PROPERTY TAXES NOT PAID AS A RESULT OF THE IMPROPER CLASSIFICATION
AS PRIMARY RESIDENCE REAL PROPERTY OR QUALIFIED
-SENIOR PRIMARY
RESIDENCE REAL PROPERTY
; AND
(III)  UPON CONVICTION OF PERJURY, BE REQUIRED TO PAY TO THE
TREASURER OF ANY COUNTY IN WHICH AN INVALID APPLICATION WAS FILED
AN ADDITIONAL AMOUNT EQUAL TO TWICE THE AMOUNT OF THE PROPERTY
TAXES IDENTIFIED IN SUBSECTION
 (4)(a)(II) OF THIS SECTION PLUS INTEREST,
CALCULATED AT THE ANNUAL RATE CALCULATED PURSUANT TO SECTION
39-21-110.5 FROM THE DATE THE INVALID APPLICATION WAS FILED UNTIL
THE DATE THE APPLICANT MAKES THE PAYMENT REQUIRED BY THIS
SUBSECTION
 (4)(a)(III).
(b)  I
F AN APPLICANT OR A TRUSTEE FAILS TO INFORM THE ASSESSOR
WITHIN SIXTY DAYS OF ANY CHANGE IN THE OWNERSHIP OR OCCUPANCY OF
RESIDENTIAL REAL PROPERTY FOR CLASSIFICATION AS A PRIMARY RESIDENCE
REAL PROPERTY OR A QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL
PROPERTY THAT HAS BEEN APPLIED FOR OR ALLOWED THAT WOULD PREVENT
THE CLASSIFICATION FROM BEING ALLOWED FOR THE PROPERTY AS REQUIRED
BY SUBSECTION
 (3)(b) OF THIS SECTION:
(I)  T
HE CLASSIFICATION IS NOT ALLOWED WITH RESPECT TO THE
RESIDENTIAL REAL PROPERTY FOR THE SUBSEQUENT PROPERTY TAX YEAR
;
AND
(II)  THE APPLICANT OR TRUSTEE SHALL PAY, TO THE TREASURER OF
ANY COUNTY IN WHICH THE CLASSIFICATION WAS IMPROPERLY ALLOWED
DUE TO THE APPLICANT
'S OR TRUSTEE'S FAILURE TO IMMEDIATELY INFORM
THE ASSESSOR OF ANY CHANGE IN THE OWNERSHIP OR OCCUPANCY OF
RESIDENTIAL REAL PROPERTY
, AN AMOUNT EQUAL TO THE AMOUNT OF
PROPERTY TAXES NOT PAID AS A RESULT OF THE IMPROPER CLASSIFICATION
PAGE 28-SENATE BILL 23-303 AS PRIMARY RESIDENCE REAL PROPERTY OR QUALIFIED -SENIOR PRIMARY
RESIDENCE REAL PROPERTY PLUS INTEREST
, CALCULATED AT THE ANNUAL
RATE SPECIFIED IN SECTION 
39-21-110.5 FROM THE DATE ON WHICH THE
CHANGE IN THE OWNERSHIP OR OCCUPANCY OCCURRED UNTIL THE DATE THE
APPLICANT MAKES THE PAYMENT REQUIRED BY THIS SUBSECTION
 (4)(b)(II).
(c)  A
NY AMOUNT REQUIRED TO BE PAID TO A TREASURER PURSUANT
TO SUBSECTION
 (4)(a) OR (4)(b) OF THIS SECTION IS DEEMED PART OF THE
LIEN OF GENERAL TAXES IMPOSED ON THE PERSON REQUIRED TO PAY THE
AMOUNT AND HAS THE PRIORITY SPECIFIED IN SECTION 
39-1-107 (2).
(5) Confidentiality. (a)  C
OMPLETED APPLICATIONS FOR
CLASSIFICATION AS PRIMARY RESIDENCE REAL PROPERTY OR AS
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY ARE CONFIDENTIAL ;
EXCEPT THAT:
(I) (A)  A
N ASSESSOR OR THE ADMINISTRATOR MAY RELEASE
STATISTICAL COMPILATIONS OR INFORMATIONAL SUMMARIES OF ANY
INFORMATION CONTAINED IN THE APPLICATIONS AND SHALL PROVIDE A COPY
OF AN APPLICATION TO THE APPLICANT WHO RETURNED THE APPLICATION
AND THE TREASURER OF THE SAME COUNTY AS THE ASSESSOR
;
(B)  A
N ASSESSOR OR THE ADMINISTRATOR MAY INTRODUCE A COPY
OF AN APPLICATION AS EVIDENCE IN ANY ADMINISTRATIVE HEARING OR
LEGAL PROCEEDING IN WHICH THE ACCURACY OR VERACITY OF THE
APPLICATION IS AT ISSUE SO LONG AS NEITHER THE APPLICANT
'S SOCIAL
SECURITY NUMBER NOR ANY OTHER SOCIAL SECURITY NUMBER SET FORTH
IN THE APPLICATION ARE DIVULGED
.
(II)  A
 TREASURER SHALL KEEP CONFIDENTIAL EACH INDIVIDUAL
APPLICATION RECEIVED FROM AN ASSESSOR BUT MAY RELEASE STATISTICAL
COMPILATIONS OR INFORMATIONAL SUMMARIES OF ANY INFORMATION
CONTAINED IN APPLICATIONS AND MAY INTRODUCE A COPY OF AN
APPLICATION AS EVIDENCE IN ANY ADMINISTRATIVE HEARING OR LEGAL
PROCEEDING IN WHICH THE ACCURACY OR VERACITY OF THE APPLICATION IS
AT ISSUE SO LONG AS NEITHER THE APPLICANT
'S SOCIAL SECURITY NUMBER
NOR ANY OTHER SOCIAL SECURITY NUMBER SET FORTH IN THE APPLICATION
IS DIVULGED
.
(III)  T
HE ADMINISTRATOR MAY SHARE INFORMATION CONTAINED IN
PAGE 29-SENATE BILL 23-303 AN APPLICATION, INCLUDING ANY SOCIAL SECURITY NUMBER SET FORTH IN
THE APPLICATION
, WITH THE DEPARTMENT OF REVENUE TO THE EXTENT
NECESSARY TO ENABLE THE ADMINISTRATOR TO VERIFY THAT THE
APPLICANT SATISFIES LEGAL REQUIREMENTS FOR THE CLASSIFICATION
.
(b)  N
OTWITHSTANDING THE PROVISIONS OF SUBSECTION (5)(a) OF
THIS SECTION
, THE ADMINISTRATOR, AN ASSESSOR, OR A TREASURER SHALL
NOT GIVE ANY OTHER PERSON ANY LISTING OF APPLICANTS OR ANY OTHER
INFORMATION THAT WOULD ENABLE A PERSON TO EASILY ASSEMBLE A
MAILING LIST OF APPLICANTS FOR THE PRIMARY RESIDENCE REAL PROPERTY
CLASSIFICATION OR QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY
CLASSIFICATION
.
(c)  I
N ACCORDANCE WITH SECTION 25-2-103 (4.7), THE
ADMINISTRATOR SHALL ANNUALLY PROVIDE TO THE STATE REGISTRAR OF
VITAL STATISTICS OF THE DEPARTMENT OF PUBLIC HEALTH AND
ENVIRONMENT A LIST
, BY NAME AND SOCIAL SECURITY NUMBER , OF EVERY
INDIVIDUAL WHO HAD PROPERTY CLASSIFIED AS PRIMARY RESIDENCE REAL
PROPERTY OR QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY FOR
THE IMMEDIATELY PRECEDING YEAR SO THAT THE REGISTRAR CAN PROVIDE
TO THE ADMINISTRATOR A LIST OF ALL THE INDIVIDUALS ON THE LIST WHO
HAVE DIED
. NO LATER THAN APRIL 1, 2026, AND APRIL 1 OF EACH YEAR
THEREAFTER
, THE ADMINISTRATOR SHALL FORWARD TO THE ASSESSOR OF
EACH COUNTY THE NAME AND SOCIAL SECURITY NUMBER OF EACH
DECEASED INDIVIDUAL WHO HAD RESIDENTIAL REAL PROPERTY LOCATED
WITHIN THE COUNTY THAT WAS SO CLASSIFIED FOR THE IMMEDIATELY
PRECEDING YEAR
, SO THAT THE ASSESSOR CAN CHANGE THE CLASSIFICATION
OF THE PROPERTY
, IF NECESSARY.
(6) Notice. (a)  A
S SOON AS PRACTICABLE AFTER JANUARY 1, 2025,
AND AFTER JANUARY 1 OF EACH YEAR THEREAFTER , EACH COUNTY
TREASURER SHALL
, AT THE TREASURER 'S DISCRETION, MAIL OR
ELECTRONICALLY SEND TO EACH PERSON WHOSE NAME APPEARS ON THE TAX
LIST AND WARRANT AS AN OWNER OF RESIDENTIAL REAL PROPERTY NOTICE
OF THE PRIMARY RESIDENCE REAL PROPERTY AND THE QUALIFIED
-SENIOR
PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATIONS
. THE TREASURER
SHALL MAIL OR ELECTRONICALLY SEND THE NOTICE EACH YEAR ON OR
BEFORE THE DATE ON WHICH THE TREASURER MAILS THE PROPERTY TAX
STATEMENT FOR THE PREVIOUS PROPERTY TAX YEAR PURSUANT TO SECTION
39-10-103. THE ADMINISTRATOR SHALL PRESCRIBE THE FORM OF THE
PAGE 30-SENATE BILL 23-303 NOTICE, WHICH MUST INCLUDE A STATEMENT OF THE ELIGIBILITY CRITERIA
FOR THE PRIMARY RESIDENCE REAL PROPERTY AND QUALIFIED
-SENIOR
PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATIONS AND INSTRUCTIONS
FOR OBTAINING A RELATED APPLICATION
.
(b)  T
O REDUCE MAILING COSTS, AN ASSESSOR MAY COORDINATE
WITH THE TREASURER OF THE SAME COUNTY TO INCLUDE NOTICE WITH THE
TAX STATEMENT FOR THE PREVIOUS PROPERTY TAX YEAR MAILED PURSUANT
TO SECTION 
39-10-103, OR MAY INCLUDE NOTICE WITH THE NOTICE OF
VALUATION MAILED PURSUANT TO SECTION 
39-5-121 (1)(a).
(7)  Notice of classification - appeal. (a) (I)  E
XCEPT AS OTHERWISE
PROVIDED IN SUBSECTION
 (7)(b) OF THIS SECTION, AN ASSESSOR SHALL ONLY
CLASSIFY PROPERTY AS PRIMARY RESIDENCE REAL PROPERTY OR
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY IF AN APPLICANT
HAS TIMELY RETURNED AN APPLICATION IN ACCORDANCE WITH SUBSECTION
(3) OF THIS SECTION THAT ESTABLISHES THAT EITHER CLASSIFICATION IS
APPROPRIATE
.
(II)  I
F THE INFORMATION PROVIDED ON OR WITH AN APPLICATION
INDICATES THAT THE APPLICANT IS NOT ENTITLED TO THE CLASSIFICATION
,
OR IS INSUFFICIENT TO ALLOW THE ASSESSOR TO DETERMINE WHETHER THE
PROPERTY MEETS THE CLASSIFICATION
, THE ASSESSOR SHALL DENY THE
APPLICATION AND MAIL TO THE APPLICANT A STATEMENT PROVIDING THE
REASONS FOR THE DENIAL AND INFORMING THE APPLICANT OF THE
APPLICANT
'S RIGHT TO CONTEST THE DENIAL PURSUANT TO SUBSECTION
(7)(b) OF THIS SECTION. THE ASSESSOR SHALL MAIL THE STATEMENT NO
LATER THAN 
AUGUST 1 OF THE PROPERTY TAX YEAR FOR WHICH THE
APPLICATION WAS FILED
.
(b) (I)  A
N APPLICANT WHOSE APPLICATION HAS BEEN DENIED MAY
CONTEST THE DENIAL BY REQUESTING A HEARING BEFORE THE COUNTY
COMMISSIONERS SITTING AS THE COUNTY BOARD OF EQUALIZATION NO
LATER THAN 
AUGUST 15 OF THE PROPERTY TAX YEAR FOR WHICH THE
APPLICATION WAS FILED
. THE HEARING SHALL BE HELD ON OR AFTER
AUGUST 1 AND NO LATER THAN SEPTEMBER 1 OF THE PROPERTY TAX YEAR
FOR WHICH THE APPLICATION WAS FILED
, AND THE DECISION OF THE COUNTY
BOARD OF EQUALIZATION IS NOT SUBJECT TO FURTHER ADMINISTRATIVE
APPEAL BY EITHER THE APPLICANT OR THE ASSESSOR
.
PAGE 31-SENATE BILL 23-303 (II)  AN INDIVIDUAL WHO HAS NOT TIMELY FILED AN APPLICATION
WITH THE ASSESSOR BY 
MARCH 15 MAY FILE A LATE APPLICATION NO LATER
THAN THE 
JULY 15 THAT IMMEDIATELY FOLLOWS THAT DEADLINE . THE
ASSESSOR SHALL ACCEPT ANY SUCH APPLICATION BUT MAY NOT ACCEPT ANY
LATE APPLICATION FILED AFTER 
JULY 15. A DECISION OF AN ASSESSOR TO
DISALLOW THE FILING OF A LATE APPLICATION AFTER 
JULY 15 OR TO GRANT
OR DENY THE CLASSIFICATION TO AN APPLICANT WHO HAS FILED A LATE
APPLICATION AFTER 
MARCH 15 BUT NO LATER THAN JULY 15 IS FINAL, AND
AN APPLICANT WHO IS DENIED LATE FILING OR AN EXEMPTION MAY NOT
CONTEST THE DENIAL
.
(III)  T
HE COUNTY BOARD OF E QUALIZATION MAY APPOINT
INDEPENDENT REFEREES TO CONDUCT HEARINGS REQUESTED PURSUANT TO
SUBSECTION
 (7)(b)(I) OF THIS SECTION ON BEHALF OF THE COUNTY BOARD
AND TO MAKE FINDINGS AND SUBMIT RECOMMENDATIONS TO THE COUNTY
BOARD FOR ITS FINAL ACTION
.
(8) Reporting to administrator. (a)  N
O LATER THAN SEPTEMBER
10, 2025, AND SEPTEMBER 10 OF EACH YEAR THEREAFTER, EACH ASSESSOR
SHALL FORWARD TO THE ADMINISTRATOR A REPORT ON THE RESIDENTIAL
REAL PROPERTY IN THE ASSESSOR
'S COUNTY THAT QUALIFIES AS PRIMARY
RESIDENCE REAL PROPERTY OR QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL
PROPERTY FOR THE CURRENT PROPERTY TAX YEAR
. FOR EACH UNIT OF
RESIDENTIAL REAL PROPERTY
, THE REPORT MUST INCLUDE:
(I)  T
HE LEGAL DESCRIPTION OF THE PROPERTY ;
(II)  T
HE SCHEDULE OR PARCEL NUMBER FOR THE PROPERTY ; AND
(III)  THE NAME AND SOCIAL SECURITY NUMBER OF THE APPLICANT
WHO CLAIMED AN EXEMPTION FOR THE PROPERTY AND
, IF APPLICABLE, THE
APPLICANT
'S SPOUSE OR CIVIL UNION PARTNER WHO OCCUPIES THE
PROPERTY
.
(b) (I)  N
O LATER THAN NOVEMBER 1, 2025, AND NOVEMBER 1 OF
EACH YEAR THEREAFTER
, THE ADMINISTRATOR SHALL PROVIDE WRITTEN
NOTICE TO AN APPLICANT THAT THE APPLICANT IS INELIGIBLE AND THE
REASON FOR THE INELIGIBILITY
. THE NOTICE MUST ALSO INCLUDE A
STATEMENT SPECIFYING THE DEADLINE AND PROCEDURES FOR PROTESTING
THE DENIAL OF THE CLASSIFICATION
.
PAGE 32-SENATE BILL 23-303 (II)  AN APPLICANT WHOSE CLAIMS FOR THE CLASSIFICATION ARE
DENIED BY THE ADMINISTRATOR PURSUANT TO SUBSECTION
 (8)(b)(I) OF THIS
SECTION MAY FILE A WRITTEN PROTEST WITH THE ADMINISTRATOR NO LATER
THAN 
NOVEMBER 15 OF THE YEAR IN WHICH THE CLASSIFICATION WAS
DENIED
. AN APPLICATION RETURNED BY MAIL IS DEEMED FILED ON THE DATE
IT IS POSTMARKED
. IF THE GROUND FOR THE DENIAL IS THAT THE APPLICANT,
OR THE APPLICANT AND THE APPLICANT'S SPOUSE OR CIVIL UNION PARTNER,
CLAIMED MULTIPLE CLASSIFICATIONS, THE SOLE GROUND FOR A PROTEST IS
THAT THE APPLICANT
, OR THE APPLICANT AND THE APPLICANT'S SPOUSE OR
CIVIL UNION PARTNER
, FILED ONLY ONE CLAIM FOR THE CLASSIFICATION ,
AND THE PROTEST MUST SPECIFY THE PROPERTY IDENTIFIED BY THE
ADMINISTRATOR IN THE NOTICE DENYING THE CLASSIFICATION FOR WHICH
NO CLASSIFICATION WAS CLAIMED
. IF THE GROUND FOR THE DENIAL IS THAT
THE APPLICANT IS NOT AN OWNER
-OCCUPIER OF THE RESIDENTIAL REAL
PROPERTY FOR WHICH THE CLASSIFICATION IS CLAIMED
, THE SOLE GROUNDS
FOR A PROTEST ARE THAT THE APPLICANT ACTUALLY IS AN OWNER
-OCCUPIER
AND THAT THE APPLICANT QUALIFIES FOR THE CLASSIFICATION
.
(c)  N
O LATER THAN DECEMBER 1, 2025, AND EACH DECEMBER 1
THEREAFTER, AND AFTER EXAMINING THE REPORTS SENT BY EACH ASSESSOR ,
DENYING CLAIMS FOR CLASSIFICATIONS , AND DECIDING PROTESTS IN
ACCORDANCE WITH SUBSECTION
 (8)(b) OF THIS SECTION , THE
ADMINISTRATOR SHALL PROVIDE WRITTEN NOTICE TO THE ASSESSOR OF
EACH COUNTY IN WHICH AN APPLICATION HAS BEEN DENIED BECAUSE THE
APPLICANT WAS INELIGIBLE
.
39-1-104.7.  Qualified-senior primary residence real property -
definitions. (1)  A
S USED IN THIS SECTION, UNLESS THE CONTEXT
OTHERWISE REQUIRES
:
(a)  "O
WNER-OCCUPIER" HAS THE SAME MEANING AS SET FORTH IN
SECTION 
39-1-104.6 (1)(a).
(b)  "S
ENIOR HOMESTEAD EXEMPTION " MEANS THE PROPERTY TAX
EXEMPTION FOR QUALIFYING SENIORS ALLOWED BY SECTION 
39-3-203 (1).
(2) (a)  F
OR PROPERTY TAX YEARS COMMENCING ON AND AFTER
JANUARY 1, 2025, RESIDENTIAL REAL PROPERTY THAT AS OF THE
ASSESSMENT DATE IS USED AS THE PRIMARY RESIDENCE OF AN
OWNER
-OCCUPIER IS CLASSIFIED AS QUALIFIED-SENIOR PRIMARY RESIDENCE
PAGE 33-SENATE BILL 23-303 REAL PROPERTY, WHICH IS A SUBCLASS OF RESIDENTIAL REAL PROPERTY , IF:
(I)  T
HE REAL PROPERTY WOULD OTHERWISE BE CLASSIFIED AS
PRIMARY RESIDENCE REAL PROPERTY UNDER SECTION 
39-1-104.6; AND
(II)  THE OWNER-OCCUPIER OF THE PROPERTY PREVIOUSLY QUALIFIED
FOR THE SENIOR HOMESTEAD EXEMPTION FOR A DIFFERENT PROPERTY AND
DOES NOT QUALIFY FOR THE SENIOR HOMESTEAD EXEMPTION FOR THE
CURRENT PROPERTY TAX YEAR
.
(b)  R
EAL PROPERTY THAT MIGHT OTHERWISE BE CLASSIFIED AS
MULTI
-FAMILY RESIDENTIAL REAL PROPERTY THAT CONTAINS A UNIT THAT
QUALIFIES AS QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY
UNDER THIS SECTION IS CLASSIFIED AS MULTI
-FAMILY QUALIFIED-SENIOR
PRIMARY RESIDENCE REAL PROPERTY
.
SECTION 12. In Colorado Revised Statutes, 39-1-111, amend (1)
and (5) as follows:
39-1-111.  Taxes levied by board of county commissioners -
repeal. (1) (a)  No later than December 22 in each year, the board of county
commissioners in each county of the state, or such other body in the city and
county of Denver as shall be authorized by law to levy taxes, or the city
council of the city and county of Broomfield, shall, either by an order to be
entered in the record of its proceedings or by written approval, levy against
the valuation for assessment of all taxable property located in the county on
the assessment date, and in the various towns, cities, school districts, and
special districts within such county, the requisite property taxes for all
purposes required by law.
(b) (I)  F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
2023,
 THE DEADLINE SET FORTH IN SUBSECTION (1)(a) OF THIS SECTION IS
POSTPONED FROM 
DECEMBER 22, 2023, TO JANUARY 12, 2024.
(II)  T
HIS SUBSECTION (1)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.
(5) (a)  If, after certification of the valuation for assessment pursuant
to section 39-5-128 and notification of total actual value pursuant to section
39-5-121 (2)(b) but prior to December 10, changes in such valuation for
assessment or total actual value are made by the assessor, the assessor shall
PAGE 34-SENATE BILL 23-303 send a single notification to the board of county commissioners or other
body authorized by law to levy property taxes, to the division of local
government, and to the department of education that includes all of such
changes that have occurred during said specified period of time. Upon
receipt of such notification, such board or body shall make adjustments in
the tax levies to ensure compliance with section 29-1-301, C.R.S.,
 if
applicable, and may make adjustments in order that the same amount of
revenue be raised. A copy of any adjustment to tax levies shall be
transmitted to the administrator and assessor. Nothing in this subsection (5)
shall be construed as conferring the authority to exceed statutorily imposed
mill levy or revenue-raising limits.
(b) (I)  F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
2023,
 THE DEADLINE SET FORTH IN SUBSECTION (5)(a) OF THIS SECTION IS
POSTPONED FROM 
DECEMBER 10, 2023, TO DECEMBER 29, 2023.
(II)  T
HIS SUBSECTION (5)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.
SECTION 13. In Colorado Revised Statutes, 39-5-128, amend (1)
as follows:
39-5-128.  Certification of valuation for assessment - repeal.
(1) (a)  No later than August 25 of each year, the assessor shall certify to the
department of education, to the clerk of each town and city, to the secretary
of each school district, and to the secretary of each special district within
the assessor's county the total valuation for assessment of all taxable
property located within the territorial limits of each such town, city, school
district, or special district and shall notify each such clerk, secretary, and
board to officially certify the levy of such town, city, school district, or
special district to the board of county commissioners no later than
December 15. The assessor shall also certify to the secretary of each school
district the actual value of the taxable property in the district.
(b) (I)  F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
2023,
 THE DEADLINE SET FORTH IN SUBSECTION (1)(a) OF THIS SECTION FOR
OFFICIALLY CERTIFYING A LEVY IS POSTPONED FROM 
DECEMBER 15, 2023,
TO JANUARY 5, 2024.
(II)  T
HIS SUBSECTION (1)(b) IS REPEALED, EFFECTIVE JULY 1, 2025.
PAGE 35-SENATE BILL 23-303 SECTION 14. In Colorado Revised Statutes, 39-3-210, amend
(1)(a), (1)(e), (3), (4)(b), (5), and (6); repeal and reenact, with
amendments, (2) and (4)(a); and add (1)(a.3), (1)(b.5), (1)(d.5),
(1)(e.5),(1)(f.3), (1)(f.7), (2.5), (4.5), and (5.5) as follows:
39-3-210.  Reporting of property tax revenue reductions -
reimbursement of local governmental entities - definitions - local
government backfill cash fund - creation - repeal. (1)  As used in this
section, unless the context otherwise requires:
(a)  "Additional state revenues" means the lesser of two hundred
forty million dollars or the total amount of the state revenues in excess of
the limitation on state fiscal year spending imposed by section 20 (7)(a) of
article X of the state constitution that the state is required to refund under
section 20 (7)(d) of article X of the state constitution, including any amount
specified in section 24-77-103.8, that exceeds
 EXCEED the amounts AMOUNT
projected to be refunded as required by sections 39-3-209 and 39-22-627
SECTION 39-3-209 for the state fiscal year commencing on July 1, 2022.
(a.3)  "C
OUNTY" INCLUDES A CITY AND COUNTY.
(b.5)  "F
UND" MEANS THE LOCAL GOVERNMENT BACKFILL CASH FUND
CREATED IN SUBSECTION
 (5.5)(a) OF THIS SECTION.
(d.5)  "L
OCAL GOVERNMENTAL ENTITY " MEANS A GOVERNMENTAL
ENTITY AUTHORIZED BY LAW TO IMPOSE AD VALOREM TAXES ON TAXABLE
PROPERTY LOCATED WITHIN ITS TERRITORIAL LIMITS
; EXCEPT THAT THE
TERM EXCLUDES SCHOOL DISTRICTS
.
(e)  "Municipality" means a home rule or statutory city, town, 
OR
territorial charter city. or city and county.
(e.5)  "PROPOSITION HH GENERAL FUND EXEMPT ACCOUNT " MEANS
THE PROPOSITION 
HH GENERAL FUND EXEMPT ACCOUNT CREATED IN
SECTION
 24-77-203 (3)(a).
(f.3)  "S
ELECT SPECIAL DISTRICT" MEANS A FIRE DISTRICT, HEALTH
SERVICE DISTRICT
, WATER DISTRICT, SANITATION DISTRICT, OR LIBRARY
DISTRICT
.
PAGE 36-SENATE BILL 23-303 (f.7)  "TOTAL PROPERTY TAX REVENUE REDUCTION " MEANS THE
AMOUNT THAT A TREASURER CALCULATES FOR A LOCAL GOVERNMENTAL
ENTITY IN ACCORDANCE WITH SUBSECTION 
(2) OF THIS SECTION.
(2) (a) (I)  F
OR THE PROPERTY TAX YEARS COMMENCING ON JANUARY
1, 2023, AND JANUARY 1, 2024, EACH TREASURER SHALL CALCULATE THE
TOTAL PROPERTY TAX REVENUE REDUCTION FOR EACH LOCAL
GOVERNMENTAL ENTITY WITHIN THE TREASURER
'S COUNTY AS A RESULT OF
ALL OF THE CUMULATIVE TEMPORARY REDUCTIONS IN VALUATION FOR
ASSESSMENT MADE IN 
SENATE BILL 22-238, ENACTED IN 2022, AND SENATE
BILL 23-303. 
(II)  F
OR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER
JANUARY 1, 2025, BUT BEFORE JANUARY 1, 2033, EACH TREASURER SHALL
CALCULATE THE TOTAL PROPERTY TAX REVENUE REDUCTION FOR EACH
LOCAL GOVERNMENTAL ENTITY WITHIN THE TREASURER
'S COUNTY AS A
RESULT OF ALL OF THE TEMPORARY REDUCTIONS IN VALUATION FOR
ASSESSMENT MADE IN 
SENATE BILL 23-303.
(b) (I)  W
HEN CALCULATING THE TOTAL PROPERTY TAX REVENUE
REDUCTION FOR A LOCAL GOVERNMENTAL ENTITY FOR A PROPERTY TAX
YEAR AS REQUIRED BY THIS SECTION
, A TREASURER SHALL USE THE LOCAL
GOVERNMENTAL ENTITY
'S MILL LEVY FOR THE PROPERTY TAX YEAR
COMMENCING ON 
JANUARY 1, 2022, EXCLUDING ANY MILLS LEVIED TO
PROVIDE FOR THE PAYMENT OF BONDS AND INTEREST THEREON OR FOR THE
PAYMENT OF ANY OTHER CONTRACTUAL OBLIGATION THAT HAS BEEN
APPROVED BY A MAJORITY OF THE LOCAL GOVERNMENTAL ENTITY
'S VOTERS
VOTING THEREON
.
(II)  N
OTWITHSTANDING SUBSECTION (2)(a) OF THIS SECTION, A
TREASURER IS NOT REQUIRED TO DETERMINE THE TOTAL PROPERTY TAX
REVENUE REDUCTION FOR A LOCAL GOVERNMENTAL ENTITY THAT IS
INELIGIBLE TO RECEIVE A REIMBURSEMENT FROM THE STATE FOR A
PROPERTY TAX YEAR IN ACCORDANCE WITH SUBSECTION
 (4.5)(b)(I)(B) OF
THIS SECTION
.
(c) (I)  F
OR THE PROPERTY TAX YEARS COMMENCING ON AND AFTER
JANUARY 1, 2023, BUT BEFORE JANUARY 1, 2033, EACH ASSESSOR SHALL
CALCULATE THE DIFFERENCE IN ASSESSED VALUE OF REAL PROPERTY FOR
EACH LOCAL GOVERNMENTAL ENTITY WITHIN THE ASSESSOR
'S COUNTY FOR
PAGE 37-SENATE BILL 23-303 THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1, 2022, AND THE
PROPERTY TAX YEAR
.
(II)  N
OTWITHSTANDING SUBSECTION (2)(c)(I) OF THIS SECTION, AN
ASSESSOR IS NOT REQUIRED TO CALCULATE THE DIFFERENCE IN ASSESSED
VALUE OF REAL PROPERTY FOR A LOCAL GOVERNMENTAL ENTITY
,
EXCLUDING A COUNTY, THAT IS INELIGIBLE TO RECEIVE A REIMBURSEMENT
FROM THE STATE FOR A PROPERTY TAX YEAR IN ACCORDANCE WITH
SUBSECTION
 (4.5)(b)(I)(B) OF THIS SECTION.
(d)  F
OR PURPOSES OF THIS SECTION , A LOCAL GOVERNMENTAL
ENTITY WITHIN A COUNTY INCLUDES THE COUNTY ITSELF
.
(2.5) (a)  O
N OR BEFORE SEPTEMBER 15, 2023, EACH TREASURER
SHALL REPORT THE FOLLOWING ESTIMATES TO THE ADMINISTRATOR FOR ALL
LOCAL GOVERNMENTAL ENTITIES WITHIN THE TREASURER
'S COUNTY:
(I)  T
HE TOTAL PROPERTY TAX REVENUE REDUCTION FOR THE
PROPERTY TAX YEAR COMMENCING ON 
JANUARY 1, 2023, THAT IS BASED ON
THE
:
(A)  T
EMPORARY REDUCTIONS IN THE VALUATION FOR ASSESSMENT
MADE IN 
SENATE BILL 22-238, ENACTED IN 2022; AND
(B)  CUMULATIVE TEMPORARY REDUCTIONS IN THE VALUATION FOR
ASSESSMENT MADE IN 
SENATE BILL 22-238, ENACTED IN 2022, AND SENATE
BILL 23-303, IF A MAJORITY OF VOTERS APPROVE THE BALLOT ISSUE
REFERRED IN ACCORDANCE WITH SECTION 
24-77-202; AND 
(II)  THE INCREASE IN ASSESSED VALUE FROM THE PROPERTY TAX
YEAR COMMENCING ON 
JANUARY 1, 2022, TO THE PROPERTY TAX YEAR
COMMENCING ON 
JANUARY 1, 2023, THAT IS BASED ON THE:
(A)  T
EMPORARY REDUCTIONS IN THE VALUATION FOR ASSESSMENT
MADE IN 
SENATE BILL 22-238, ENACTED IN 2022; AND
(B)  CUMULATIVE TEMPORARY REDUCTIONS IN THE VALUATION FOR
ASSESSMENT MADE IN 
SENATE BILL 22-238, ENACTED IN 2022, AND SENATE
BILL 23-303, IF A MAJORITY OF VOTERS APPROVE THE BALLOT ISSUE
REFERRED IN ACCORDANCE WITH SECTION 
24-77-202.
PAGE 38-SENATE BILL 23-303 (b)  THE ADMINISTRATOR SHALL PROVIDE THE ESTIMATES RECEIVED
IN ACCORDANCE WITH SUBSECTION
 (2.5)(a) OF THIS SECTION TO THE
DEPARTMENT OF REVENUE AND LEGISLATIVE COUNCIL STAFF
.
(3)  No later than March 1, 2024, each
 AND MARCH 1 OF THE NEXT
NINE YEARS THEREAFTER
, A treasurer shall report the amounts specified in
subsection (2) of this section, as applicable and the basis for the amounts to
the administrator. and
 The administrator may require a treasurer to provide
additional information as necessary to evaluate the accuracy of the amounts
reported. The administrator shall confirm that the reported amounts are
correct or rectify the amounts, if necessary. The administrator shall then
forward the correct amounts for each
 A county to the state treasurer to
enable the state treasurer to issue a reimbursement warrant to each A
treasurer in accordance with subsection (4) of this section.
(4) (a) (I)  N
O LATER THAN APRIL 15, 2024, THE STATE TREASURER
SHALL ISSUE A WARRANT
, TO BE PAID UPON DEMAND FROM ADDITIONAL
STATE REVENUES FOR THE STATE FISCAL YEAR COMMENCING ON 
JULY 1,
2022,
 AND, IF NECESSARY, FROM OTHER MONEY IN THE GENERAL FUND , TO
EACH TREASURER THAT IS EQUAL TO THE TOTAL REIMBURSEMENT AMOUNTS
SET FORTH IN SUBSECTION
 (4.5) OF THIS SECTION FOR ALL LOCAL
GOVERNMENTAL ENTITIES WITHIN THE TREASURER
'S COUNTY FOR THE
PROPERTY TAX YEAR COMMENCING ON 
JANUARY 1, 2023.
(II)  N
O LATER THAN APRIL 15, 2025, AND APRIL 15 OF THE NEXT
EIGHT YEARS THEREAFTER
, THE STATE TREASURER SHALL ISSUE A WARRANT,
TO BE PAID UPON DEMAND FIRST FROM THE FUND , AND, IF NECESSARY, FROM
STATE REVENUES IN THE PROPOSITION 
HH GENERAL FUND EXEMPT
ACCOUNT
, TO EACH TREASURER THAT IS EQUAL TO THE TOTAL
REIMBURSEMENT AMOUNTS SET FORTH IN SUBSECTION
 (4.5) OF THIS SECTION
FOR ALL LOCAL GOVERNMENTAL ENTITIES WITHIN THE TREASURER
'S COUNTY
FOR THE PRIOR PROPERTY TAX YEAR
.
(b)  Each treasurer shall distribute the total amount received from the
state treasurer to the local governmental entities, excluding school districts,
within the treasurer's county as if the revenues had been regularly paid as
property tax, but so that the local governmental entities only receive the
amounts determined pursuant to subsection (4)(a) of
 this section. 
(4.5) (a)  E
XCEPT AS SET FORTH IN SUBSECTIONS (4.5)(b), (4.5)(c),
PAGE 39-SENATE BILL 23-303 AND (4.5)(d) OF THIS SECTION, THE REIMBURSEMENT FOR A LOCAL
GOVERNMENTAL ENTITY FOR A PROPERTY TAX YEAR COMMENCING ON OR
AFTER 
JANUARY 1, 2023, BUT BEFORE JANUARY 1, 2033, IS EQUAL TO:
(I)  F
OR COUNTIES WITH A POPULATION THAT IS THREE HUNDRED
THOUSAND OR LESS
:
(A)  T
HE ENTIRE AMOUNT OF THE TOTAL PROPERTY TAX REVENUE
REDUCTION FOR EACH LOCAL GOVERNMENTAL ENTITY WITHIN A COUNTY
THAT HAD AN INCREASE OF LESS THAN TEN PERCENT IN THE ASSESSED VALUE
OF REAL PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON
JANUARY 1, 2022, TO THE PROPERTY TAX YEAR FOR WHICH THE
REIMBURSEMENT IS BEING CALCULATED
; AND
(B)  NINETY PERCENT OF THE TOTAL PROPERTY TAX REVENUE
REDUCTION FOR EACH LOCAL GOVERNMENTAL ENTITY THAT HAD AN
INCREASE OF TEN PERCENT OR MORE IN THE ASSESSED VALUE OF REAL
PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON 
JANUARY 1,
2022,
 TO THE PROPERTY TAX YEAR FOR WHICH THE REIMBURSEMENT IS
BEING CALCULATED
;
(II)  F
OR COUNTIES WITH A POPULATION GREATER THAN THREE
HUNDRED THOUSAND
:
(A)  T
HE ENTIRE AMOUNT OF THE TOTAL PROPERTY TAX REVENUE
REDUCTION FOR EACH MUNICIPALITY OR SELECT SPECIAL DISTRICT THAT HAD
AN INCREASE OF LESS THAN TEN PERCENT IN THE ASSESSED VALUE OF REAL
PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON 
JANUARY 1,
2022,
 TO THE PROPERTY TAX YEAR FOR WHICH THE REIMBURSEMENT IS
BEING CALCULATED
;
(B)  N
INETY PERCENT OF THE TOTAL PROPERTY TAX REVENUE
REDUCTION FOR EACH MUNICIPALITY OR SELECT SPECIAL DISTRICT THAT HAD
AN INCREASE OF TEN PERCENT OR MORE IN THE ASSESSED VALUE OF REAL
PROPERTY FROM THE PROPERTY TAX YEAR COMMENCING ON 
JANUARY 1,
2022,
 TO THE PROPERTY TAX YEAR FOR WHICH THE REIMBURSEMENT IS
BEING CALCULATED
; AND
(C)  SIXTY-FIVE PERCENT OF THE TOTAL PROPERTY TAX REVENUE
REDUCTION FOR ALL LOCAL GOVERNMENTAL ENTITIES BESIDES A
PAGE 40-SENATE BILL 23-303 MUNICIPALITY OR A SELECT SPECIAL DISTRICT.
(b) (I)  E
XCEPT AS SET FORTH IN SUBSECTION (4.5)(b)(II) OF THIS
SECTION
, FOR PROPERTY TAX YEARS COMMENCING ON AND AFTER JANUARY
1, 2024, A LOCAL GOVERNMENTAL ENTITY IS INELIGIBLE TO RECEIVE
REIMBURSEMENT UNDER THIS SECTION IF
:
(A)  T
HE LOCAL GOVERNMENTAL ENTITY HAS AN INCREASE OF
TWENTY PERCENT OR MORE IN THE ASSESSED VALUE OF REAL PROPERTY
FROM THE PROPERTY TAX YEAR COMMENCING ON 
JANUARY 1, 2022, TO THE
PROPERTY TAX YEAR FOR WHICH A REIMBURSEMENT AMOUNT IS
CALCULATED
; OR
(B)  THE LOCAL GOVERNMENTAL ENTITY IS WITHIN A COUNTY THAT
HAS A POPULATION GREATER THAN THREE HUNDRED THOUSAND AND WAS
INELIGIBLE TO RECEIVE A REIMBURSEMENT UNDER SUBSECTION
(4.5)(b)(I)(A) OF THIS SECTION FOR A PRIOR PROPERTY TAX YEAR .
(II)  T
HE REIMBURSEMENT FOR A FIRE DISTRICT , HEALTH SERVICE
DISTRICT
, OR AMBULANCE DISTRICT THAT WOULD OTHERWISE BE INELIGIBLE
TO RECEIVE A REIMBURSEMENT BASED ON SUBSECTION
 (4.5)(b)(I) OF THIS
SECTION IS EQUAL TO FIFTY PERCENT OF THE DISTRICT
'S TOTAL PROPERTY
TAX REVENUE REDUCTION FOR THE PROPERTY TAX YEAR
.
(c) (I)  F
OR A PROPERTY TAX YEAR COMMENCING ON OR AFTER
JANUARY 1, 2024, BUT BEFORE JANUARY 1, 2033, THE TOTAL OF ALL
REIMBURSEMENTS STATEWIDE UNDER THIS SECTION SHALL NOT EXCEED THE
TOTAL OF THE AMOUNT IN THE FUND AND AN AMOUNT EQUAL TO TWENTY
PERCENT OF THE AMOUNT IN THE PROPOSITION 
HH GENERAL FUND EXEMPT
ACCOUNT AS OF THE DATE THAT THE TREASURER IS MAKING THE
REIMBURSEMENTS
.
(II)  I
F THE TOTAL OF ALL REIMBURSEMENTS STATEWIDE WOULD
OTHERWISE EXCEED THE LIMIT SET FORTH IN SUBSECTION
 (4.5)(c)(I) OF THIS
SECTION FOR A PROPERTY TAX YEAR
, THE STATE TREASURER SHALL PROVIDE
THE REIMBURSEMENTS OTHERWISE SPECIFIED IN THIS SUBSECTION 
(4.5) TO
ALL FIRE DISTRICTS
, HEALTH SERVICE DISTRICTS , AND AMBULANCE
DISTRICTS AND THEN PROPORTIONALLY REDUCE THE REIMBURSEMENT
AMOUNT FOR ALL OTHER LOCAL GOVERNMENTAL ENTITIES SO THAT THE
TOTAL OF ALL REIMBURSEMENTS STATEWIDE
, INCLUDING THE
PAGE 41-SENATE BILL 23-303 REIMBURSEMENT AMOUNTS FOR ALL FIRE DISTRICTS , HEALTH SERVICE
DISTRICTS
, AND AMBULANCE DISTRICTS , EQUALS THE LIMIT FOR THE
PROPERTY TAX YEAR
.
(III)  T
HE STATE TREASURER SHALL REDUCE A LOCAL
GOVERNMENTAL ENTITY
'S REIMBURSEMENT AS NECESSARY TO AVOID THE
LOCAL GOVERNMENTAL ENTITY EXCEEDING ITS FISCAL YEAR SPENDING LIMIT
UNDER SECTION 
20 (7)(b) OF ARTICLE X OF THE STATE CONSTITUTION FOR
THE FISCAL YEAR
.
(d)  I
F A LOCAL GOVERNMENTAL ENTITY HAS AN INCREASE OF
TWENTY PERCENT OR MORE IN THE ASSESSED VALUE OF REAL PROPERTY
FROM THE PROPERTY TAX YEAR COMMENCING ON 
JANUARY 1, 2022, TO THE
PROPERTY TAX YEAR COMMENCING ON 
JANUARY 1, 2023, THEN, FOR THE
REIMBURSEMENT FOR THE PROPERTY TAX YEAR COMMENCING ON 
JANUARY
1, 2023, THE LOCAL GOVERNMENTAL ENTITY 'S TOTAL PROPERTY TAX
REVENUE REDUCTION IS BASED ONLY ON THE TEMPORARY REDUCTIONS IN
VALUATION FOR ASSESSMENT MADE IN 
SENATE BILL 22-238, ENACTED IN
2022.
(e)  T
HE REIMBURSEMENT AMOUNTS SET FORTH IN THIS SECTION ARE
BASED ON THE AMOUNTS THAT THE ADMINISTRATOR REPORTS TO THE
TREASURER IN ACCORDANCE WITH SUBSECTION 
(3) OF THIS SECTION. FOR
PURPOSES OF THIS SUBSECTION 
(4.5), POPULATION IS DETERMINED PURSUANT
TO THE MOST RECENTLY PUBLISHED POPULATION ESTIMATES FROM THE
STATE DEMOGRAPHER APPOINTED BY THE EXECUTIVE DIRECTOR OF THE
DEPARTMENT OF LOCAL AFFAIRS
.
(f)  I
F A LOCAL GOVERNMENTAL ENTITY IS LOCATED IN MORE THAN
ONE COUNTY
, THEN THE PART LOCATED IN EACH COUNTY IS TREATED LIKE
ANY OTHER LOCAL GOVERNMENTAL ENTITY LOCATED WITHIN THE COUNTY
FOR THE PURPOSE OF DETERMINING THE REIMBURSEMENT AMOUNT UNDER
SUBSECTION
 (4.5)(a) OF THIS SECTION, BUT, FOR THE PURPOSE OF APPLYING
SUBSECTION
 (4.5)(b) OF THIS SECTION, THE ENTIRE LOCAL GOVERNMENTAL
ENTITY IS CONSIDERED
.
(5)  On or before March 21, 2024, based on the information available
as of that date, the property tax administrator shall submit a report to the
general assembly describing the aggregate reduction of local government
TOTAL property tax revenue during REDUCTION FOR ALL LOCAL
PAGE 42-SENATE BILL 23-303 GOVERNMENTAL ENTITIES STATEWIDE FOR the property tax year
commencing on January 1, 2023. as a result of the changes made in Senate
Bill 22-238, enacted in 2022, that reduced valuations for assessment set
forth pursuant to sections 39-1-104 (1)(b) and (1.8)(b), 39-1-104.2 (3)(q)(II)
and (3)(r)(II), and 39-3-104.3 (2).
(5.5) (a)  THE LOCAL GOVERNMENT BACKFILL CASH FUND IS HEREBY
CREATED IN THE STATE TREASURY
. THE FUND CONSISTS OF MONEY
TRANSFERRED TO THE FUND IN ACCORDANCE WITH SUBSECTION
 (5.5)(b) OF
THIS SECTION
. THE STATE TREASURER SHALL CREDIT ALL INTEREST AND
INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY IN THE
LOCAL GOVERNMENT BACKFILL CASH FUND TO THE FUND
.
(b)  O
N FEBRUARY 1, 2024, THE STATE TREASURER SHALL TRANSFER
ONE HUNDRED TWENTY
-EIGHT MILLION DOLLARS FROM THE GENERAL FUND
TO THE FUND
.
(c)  T
HE MONEY IN THE FUND IS AVAILABLE FOR THE STATE
TREASURER TO PAY THE WARRANTS REQUIRED TO BE ISSUED IN ACCORDANCE
WITH SUBSECTION
 (4)(a)(II) OF THIS SECTION. 
(6)  This section is repealed, effective July 1, 2025
 JULY 1, 2035.
SECTION 15. In Colorado Revised Statutes, amend 39-5-129 as
follows:
39-5-129.  Delivery of tax warrant - public inspection - repeal.
(1) As soon as practicable after the requisite taxes for the year have been
levied but in no event later than January 10 of each year, the assessor shall
deliver the tax warrant under his
 THE hand and official seal OF THE
ASSESSOR
 to the treasurer, which shall be made readily available to the
general public during the collection year in a convenient location in the
courthouse. The assessor shall retain one or more true copies thereof, which
shall be made readily available to the general public during the collection
year in a convenient location in the courthouse. Such tax warrant shall set
forth the assessment roll, reciting the persons in whose names taxable
property in the county has been listed, the class of such taxable property and
the valuation for assessment thereof, the several taxes levied against such
valuation, and the amount of such taxes extended against each separate
valuation. At the end of the warrant, the aggregate of all taxes levied shall
PAGE 43-SENATE BILL 23-303 be totaled, balanced, and prorated to the several funds of each levying
authority, and the treasurer shall be commanded to collect all such taxes.
(2) (a)  F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
2023,
 THE DEADLINE SET FORTH IN SUBSECTION (1) OF THIS SECTION IS
POSTPONED FROM 
JANUARY 10, 2024, TO JANUARY 19, 2024.
(b)  T
HIS SUBSECTION (2) IS REPEALED, EFFECTIVE JULY 1, 2025.
SECTION 16. In Colorado Revised Statutes, 39-10-103, add (1)(c)
as follows:
39-10-103.  Tax statement - repeal. (1) (c) (I)  F
OR THE PROPERTY
TAX YEAR COMMENCING ON 
JANUARY 1, 2023, THE TREASURER SHALL MAIL
THE STATEMENT AS SOON AS PRACTICABLE AFTER 
JANUARY 19, 2024.
(II)  T
HIS SUBSECTION (1)(c) IS REPEALED, EFFECTIVE JULY 1, 2025.
SECTION 17. In Colorado Revised Statutes, 39-21-113, amend
(24) as follows:
39-21-113.  Reports and returns - rule - repeal.
(24)  Notwithstanding any other provision of this section, the executive
director, after receiving from the property tax administrator a list of
individuals who are claiming 
EITHER the property tax exemptions for
qualifying seniors and disabled veterans allowed under part 2 of article 3 of
this title
 TITLE 39 OR THE PRIMARY RESIDENCE REAL PROPERTY OR
QUALIFIED
-SENIOR PRIMARY RESIDENCE REAL PROPERTY CLASSIFICATION
FOR THE PROPERTY
, shall provide to the property tax administrator
information pertaining to the listed individuals, including their names,
social security numbers, marital and income tax filing status, and residency
status, needed by the administrator to verify that the exemption 
OR
CLASSIFICATION 
is allowed only to applicants who satisfy legal requirements
for claiming it. The administrator and the administrator's agents, clerks, and
employees shall keep all information received from the executive director
confidential, and any individual who fails to do so is guilty of a
misdemeanor and subject to punishment as specified in subsection (6) of
this section.
SECTION 18. In Colorado Revised Statutes, 39-22-2002, add (5.5)
PAGE 44-SENATE BILL 23-303 as follows:
39-22-2002.  Fiscal years commencing on or after July 1, 1998 -
state sales tax refund - authority of executive director - repeal.
(5.5) (a)  I
N ADDITION TO THE CALCULATIONS OTHERWISE REQUIRED BY THIS
SECTION
, NO LATER THAN OCTOBER 1, 2023, THE EXECUTIVE DIRECTOR
SHALL CALCULATE THE AMOUNT OF THE IDENTICAL INDIVI DUAL REFUND
CALCULATED PURSUANT TO SUBSECTION
 (2)(a) OF THIS SECTION AND THE
INCOME CLASSIFICATIONS AND THE AMOUNT OF THE REFUND ALLOWED FOR
EACH INCOME CLASSIFICATION PURSUANT TO SECTION 
39-22-2003 (3) FOR
THE TAXABLE YEAR COMMENCING DURING THE FISCAL YEAR BASED ON THE
AMOUNT OF EXCESS STATE REVENUES THAT WILL BE REF UNDED UNDER
SECTION 
39-3-210 WITH OR WITHOUT THE PROVISIONS OF SENATE BILL
23-303 TAKING EFFECT.
(b)  T
HIS SUBSECTION (5.5) IS REPEALED, EFFECTIVE JULY 1, 2024.
SECTION 19. In Colorado Revised Statutes, 22-54-114, add (10)
as follows:
22-54-114.  State public school fund - repeal.(10) (a)  O
N
FEBRUARY 1, 2024, THE STATE TREASURER SHALL TRANSFER SEVENTY -TWO
MILLION DOLLARS FROM THE GENERAL FUND TO THE STATE PUBLIC SCHOOL
FUND FOR THE PURPOSE OF OFFSETTING REDUCTIONS IN SC HOOL DISTRICT
PROPERTY TAX REVENUE
.
(b)  T
HIS SUBSECTION (10) IS REPEALED, EFFECTIVE JULY 1, 2025.
SECTION 20. In Colorado Revised Statutes, 39-5-121, add (3.5)
as follows:
39-5-121.  Notice of valuation - legislative declaration - definition
- repeal. (3.5) (a)  O
N OR BEFORE MARCH 1, 2024, THE ADMINISTRATOR
SHALL PREPARE A DESCRIPTION OF THE PROPERTY TAX CLASSES AND
SUBCLASSES SET FORTH IN SECTIONS 
39-1-104 AND 39-1-104.2, THE
VALUATION FOR ASSESSMENT FOR THE DIFFERENT CLASSES AND
SUBCLASSES
, THE PROPERTY TAX YEARS THAT THE VARIOUS VALUATIONS
FOR ASSESSMENT APPLY
, AND INFORMATION ABOUT THE APPLICATION
PROCESS SET FORTH IN SECTION 
39-1-104.6 (3). THE ASSESSOR SHALL EITHER
INCLUDE THE DESCRIPTION ALONG WITH A NOTICE OF VALUATION THAT IS
PAGE 45-SENATE BILL 23-303 REQUIRED TO BE SENT IN THE 2024 CALENDAR YEAR UNDER SUBSECTION (1)
OR (1.5) OF THIS SECTION OR MAKE IT AVAILABLE ON THE ASSESSOR 'S
WEBSITE
.
(b)  T
HIS SUBSECTION (3.5) IS REPEALED, EFFECTIVE JULY 1, 2025.
SECTION 21. In Colorado Revised Statutes, 39-10-104.5, amend
(3)(a) as follows:
39-10-104.5.  Payment dates - optional payment dates - failure to
pay - delinquency. (3) (a) (I)  If the first installment is not paid on or
before the last day of February, then delinquent interest on the first
installment shall accrue at the rate of one percent per month from the first
day of March until the date of payment; except that, if payment of the first
installment is made after the last day of February but not later than thirty
days after the mailing by the treasurer of the tax statement, or true and
actual notification of an electronic statement, pursuant to section 39-10-103
(1)(a), no such delinquent interest shall accrue. If the second installment is
not paid by the fifteenth day of June, delinquent interest on the second
installment shall accrue at the rate of one percent per month from the
sixteenth day of June until the date of payment. Interest on the first
installment shall continue to accrue at the same time that interest is accruing
on the unpaid portion of the second installment. The taxpayer shall continue
to have the option of paying delinquent property taxes in two equal
installments until one day prior to the sale of the tax lien on such property
pursuant to article 11 of this title.
(II) (A)  F
OR THE PROPERTY TAX YEAR COMMENCING ON JANUARY 1,
2023,
 DELINQUENT INTEREST DOES NOT ACCRUE IF PAYMENT OF THE FIRST
INSTALLMENT IS MADE AFTER THE LAST DAY OF 
FEBRUARY BUT NOT LATER
THAN FIFTEEN DAYS AFTER THE MAILING BY THE TREASURER OF THE TAX
STATEMENT
, OR TRUE AND ACTUAL NOTIFICATION OF AN ELECTRONIC
STATEMENT
, PURSUANT TO SECTION 39-10-103 (1).
(B)  T
HIS SUBSECTION (3)(a)(II) IS REPEALED, EFFECTIVE JULY 1,
2025.
SECTION 22. Appropriation. (1)  For the 2023-24 state fiscal
year, $62,426 is appropriated to the department of local affairs. This
appropriation is from the general fund. To implement this act, the
PAGE 46-SENATE BILL 23-303 department may use this appropriation for the purchase of information
technology services.
(2)  For the 2023-24 state fiscal year, $62,426 is appropriated to the
office of the governor for use by the office of information technology. This
appropriation is from reappropriated funds received from the department of
local affairs under subsection (1) of this section. To implement this act, the
office may use this appropriation to provide information technology
services for the department of local affairs.
(3)  For the 2023-24 state fiscal year, $94,162,222 is appropriated to
the department of education. This appropriation is from the state education
fund created in section 17 (4)(a) of article IX of the state constitution. To
implement this act, the department may use this appropriation for the state
share of districts' total program funding.
SECTION 23. Effective date. (1)  Except as otherwise provided in
subsection (2) of this section, this act takes effect only if a majority of
voters approve the ballot issue referred in accordance with section
24-77-202, Colorado Revised Statutes, enacted in section 3 of this act, and
in which case this act takes effect on the date of the official declaration of
the vote thereon by the governor.
(2)  Section 3, section 39-1-104.2 (3.7) enacted in section 9 of this
bill, section 39-3-210 (1)(a.3), (1)(e), and (2.5) enacted or amended in
section 14 of this act, section 18, this section 23, and section 24 of this act
take effect upon passage.
SECTION 24. Safety clause. The general assembly hereby finds,
PAGE 47-SENATE BILL 23-303 determines, and declares that this act is necessary for the immediate
preservation of the public peace, health, or safety.
____________________________  ____________________________
Steve Fenberg Julie McCluskie
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
____________________________  ____________________________
Cindi L. Markwell Robin Jones
SECRETARY OF CHIEF CLERK OF THE HOUSE
THE SENATE OF REPRESENTATIVES
            APPROVED________________________________________
                                                        (Date and Time)
                              _________________________________________
                             Jared S. Polis
                             GOVERNOR OF THE STATE OF COLORADO
PAGE 48-SENATE BILL 23-303