SENATE BILL 25-259
BY SENATOR(S) Bridges and Kirkmeyer, Amabile;
also REPRESENTATIVE(S) Bird and Taggart, Sirota.
C
ONCERNING THE ELIMINATION OF STATE PROPERTY TAX REIMBURSEMENT
FOR A TAXPAYER THAT OWES AD VALOREM PROPERTY TAX ON
PROPERTY THAT HAS BEEN DESTROYED BY A NATURAL CAUSE
.
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. In Colorado Revised Statutes, 39-1-123, amend (1)
and (2)(a)(II); and add (7) as follows:
39-1-123. Property tax reimbursement - property destroyed by
natural cause - repeal. (1) Eligibility. For property tax years commencing
on or after January 1, 2013,
BUT BEFORE JANUARY 1, 2025, real or business
personal property listed on a single schedule that was destroyed by a natural
cause as defined in section 39-1-102 (8.4), as determined by the county
assessor in the county in which the property is located, shall be
IS subject
to a reimbursement from the state in an amount equal to the property tax
liability applicable to the destroyed property in the property tax year in
which the natural cause occurred.
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. (2) Report of destroyed properties. (a) (II) For property tax years
commencing on or after January 1, 2014,
BUT BEFORE JANUARY 1, 2025, on
or before December 15 of the applicable property tax year, the assessor of
each county with property destroyed by a natural cause shall forward to the
applicable county treasurer a report of the taxable real or business personal
property in the county that was destroyed by a natural cause through
November of the year. The report must include the information specified in
paragraph (b) of this subsection (2)
SUBSECTION (2)(b) OF THIS SECTION.
(7) Repeal. T
HIS SECTION IS REPEALED, EFFECTIVE JULY 1, 2025.
SECTION 2. Safety clause. The general assembly finds,
determines, and declares that this act is necessary for the immediate
preservation of the public peace, health, or safety or for appropriations for
PAGE 2-SENATE BILL 25-259 the support and maintenance of the departments of the state and state
institutions.
____________________________ ____________________________
James Rashad Coleman, Sr.
Julie McCluskie
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
____________________________ ____________________________
Esther van Mourik Vanessa Reilly
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 3-SENATE BILL 25-259