Property tax revenue limit. Senate Bill 24-233, concerning property tax, created a limit on the annual growth of specified property tax revenue (property tax limit) for certain local governments excluding school districts. Sections 3 through 7 of the act modify that property tax limit and create a new property tax limit for school districts. Specifically, the act: Modifies the property tax limit for local governments excluding school districts so that this limit is no longer 5.5% but is instead equal to the greatest amount of qualified property tax revenue collected by a local government in a previous property tax year increased by 5.25% multiplied by the number of property tax years in a reassessment cycle; Establishes a new property tax limit for school districts that is equal to the greatest amount of local share of statewide total program property tax revenue collected by a school district in a previous property tax year increased by the greater of 6% multiplied by the number of property tax years in a reassessment cycle or the sum of the percentage by which the general assembly annually increases the statewide base per pupil funding for public education from kindergarten through twelfth grade and the percentage increase in pupil enrollment for both the relevant property tax year and the other property tax year in the same reassessment cycle; Annually establishes the valuation for assessment (valuation) for residential property as necessary to ensure that school districts do not exceed the property tax limit for school districts and to compensate for inaccurate adjustments to valuation in the immediately preceding property tax year; Allows waiver of the property tax limit for all school districts, but requires statewide voter approval for such waiver and does not allow individual school districts to locally waive their individual property tax limits; Increases both the property tax limit for local governments excluding school districts and the property tax limit for school districts by the difference between the amount of relevant property tax revenue retained by the local government or school district and the amount of relevant property tax revenue that the local government or school district could have retained as a result of the property tax limit; and Requires certain language to be included in any ballot question that seeks to waive either property tax limit created in these sections. Nonresidential and personal property valuation reductions. Sections 8 and 9 lower the valuation for most nonresidential and personal property as follows: For the property tax year commencing on January 1, 2024, the valuation for lodging property is 27.9% of the actual value of the property minus the lesser of thirty thousand dollars or the amount that reduces the valuation for assessment to $1,000; For the property tax year commencing on January 1, 2025, the valuation for most nonresidential and personal property is 27% of the actual value of the property; For the property tax year commencing on January 1, 2026, the valuation for commercial property and agricultural property is 25% of the actual value of the property and the valuation for most other nonresidential and personal property is 26%; and For property tax years commencing on or after January 1, 2027, the valuation for most nonresidential and personal property is 25% of the actual value of the property. Residential real property valuation reductions. The act also lowers the valuation for residential real property. The amount of the reduction is based on the increase in statewide actual value between the property tax year that commences on January 1, 2024, and the property tax year that commences on January 1, 2025. If the increase in actual value is greater than 5%, sections 10 and 11 reduce the valuation for residential real property as follows: For property tax years commencing on or after January 1, 2025, for the purpose of a levy imposed by a school district, the valuation for residential real property is 6.95% of the actual value of the property; For the property tax year commencing on January 1, 2025, for the purpose of a levy imposed by a local government that is not a school district, the valuation for residential real property is 6.15%; and For property tax years commencing on or after January 1, 2026, for the purpose of a levy imposed by a local government that is not a school district, the valuation for residential real property is 6.7% of the amount equal to the actual value of the property minus the lesser of 10% of the actual value of the property, $70,000 as adjusted for inflation in the first year of each subsequent reassessment cycle, or the amount that causes the valuation for assessment of the property to be $1,000. If the increase in statewide actual value is less than or equal to 5%, sections 10 and 11 reduce the valuation for residential real property as follows: For property tax years commencing on or after January 1, 2025, for the purpose of a levy imposed by a school district, the valuation for residential real property is 7.05% of the actual value of the property; For the property tax year commencing on January 1, 2025, for the purpose of a levy imposed by a local government that is not a school district, the valuation for residential real property is 6.25%; and For property tax years commencing on or after January 1, 2026, for the purpose of a levy imposed by a local government that is not a school district, the valuation for residential real property is 6.8% of the amount equal to the actual value of the property minus the lesser of 10% of the actual value of the property, $70,000 as adjusted for inflation in the first year of each subsequent reassessment cycle, or the amount that causes the valuation for assessment of the property to be $1,000. Section 11 also adjusts the valuations for qualified-senior primary residence real property to mirror the adjustments to the valuations for residential real property made in sections 10 and 11. Property tax commission. Section 1 requires the commission on property tax to evaluate the equity of valuation for assessment established in both the act and Senate Bill 24-233 and to prepare a report on this evaluation no later than May 1, 2025. Definitions of assessed value and valuation for assessment. Section 2 creates definitions of "assessed value" and "valuation for assessment" that apply throughout statute to prevent any confusion arising from having 2 different assessment rates. Conforming amendments. Sections 12 and 13 make conforming amendments. Abstract of assessment. Section 14 requires a county assessor to file additional information along with the abstract of assessment that they filed on August 25, 2025, so that the property tax administrator may determine the amount of statewide actual value growth between the property tax year that commences on January 1, 2024, and the property tax year that commences on January 1, 2025. Local government backfill. Senate Bill 24-233 establishes a process for the state to reimburse local governments for lost property tax revenue for the property tax year commencing on January 1, 2024. Section 15 extends this process from Senate Bill 24-233 to cover the property tax year commencing on January 1, 2025, but only to cover decreases in assessed value attributable to the act. Notice of valuation and tax bill. Sections 16 and 17 remove references to assessed value and ratio of valuation for assessment from taxpayers' notice of valuation and tax bills to prevent confusion from having 2 different assessed values on a tax bill. Effective date. Senate Bill 24-233 becomes law only if neither of the following initiatives (property tax initiatives) are approved by the people at the general election held on November 5, 2024: An initiative that reduces valuations for assessment; or An initiative that requires voter approval for retaining property tax revenue that exceeds a limit. Section 18 modifies the effective date of Senate Bill 24-233 so that Senate Bill 24-233 takes effect either: On October 1, 2024, if both property tax initiatives are withdrawn from the ballot; or On the date of the official declaration of the vote, if one or both of the property tax initiatives appears on the ballot and no property tax initiative is approved by the people. Sections 19 and 20 establish the effective date of the act so that the majority of the act only takes effect if Senate Bill 24-233 becomes law. APPROVED by Governor September 4, 2024 PORTIONS EFFECTIVE September 4, 2024 PORTIONS EFFECTIVE October 1, 2024, or upon the date of the official declaration by the governor(Note: This summary applies to this bill as enacted.)
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If approved by the voters of the state at the November 2024 general election, the concurrent resolution requires that a statewide initiative that impacts local government property tax revenue or spending of property tax revenue be approved by voters of a local government that is impacted by the statewide initiative before it applies to the property tax revenue of the local government. (Note: This summary applies to this concurrent resolution as introduced.)
The act creates the waste tire management enterprise (enterprise) in the department of public health and environment (department). Under current law, when a consumer buys new tires, the retailer charges the consumer a waste tire fee that is then collected by the department and distributed into 2 separate cash funds: The waste tire administration, enforcement, market development, and cleanup fund; and The end users fund. The act amends the fee collection and distribution system used under current law by establishing 2 different fees that will be collected and deposited into 3 separate funds. The waste tire enterprise fee (enterprise fee) is collected by the enterprise, and the revenues from that fee are deposited into the waste tire management enterprise fund and the end users fund. The waste tire management enterprise fund is used to cover the costs of operating the enterprise. The end users fund is used to fund the end-user rebate program. The enterprise fee amount is set by the enterprise and capped at $2.50 per tire, adjusted for inflation. The department is responsible for collecting the waste tire administration fee (administration fee), and the revenue from that fee is deposited into the waste tire administration fund. The administration fee amount is set by the department and is at minimum $0.50 cents per tire, but must not exceed half of the amount of the enterprise fee. The waste tire administration fund is used by the department for conducting regulatory and administrative functions of the department, such as: Inspecting new motor vehicle tire and new trailer tire retailers; Coordinating with law enforcement, fire departments, and citizens to ensure the enforcement of rules related to the waste tire management; Reimbursing certain departments that may assist the department; Inspecting waste tire collection facilities, waste tire processors, and waste tire monofills; Training and providing grants to various entities involved in waste tire management; and Registering and regulating waste tire haulers, waste tire generators, used tire managers, waste tire collection facilities, waste tire processors, mobile processors, waste tire monofills, and end users. Both the enterprise fee and the administration fee are charged by retailers of new motor vehicles and new trailer tires at the point of sale. The enterprise's primary powers and duties are: Collecting the enterprise fee; Managing the waste tire management enterprise fund and the end users fund; Issuing rebates to end users; Issuing revenue bonds; Developing waste tire recycling, beneficial reuse, and management strategies and contracting with public or private entities for services related to the waste tire recycling, beneficial reuse, and management strategies; Administering the waste tire management grant program; and Preparing and submitting an annual financial report to the general assembly. The enterprise is operated by a board of directors appointed by the executive director of the department. The act extends the end user rebate program that exists under current law until December 31, 2041. The act extends the operation of a waste tire monofill for 10 years, until July 1, 2034. The enterprise administers the waste tire management grant program that is funded by the enterprise fee to provide economic and technical assistance to eligible entities related to the recycling, beneficial reuse, and management of waste tires. Eligible entities may be awarded grants for the purchase of equipment or infrastructure, staffing at waste tire facilities, marketing and communications, policy and research development, and community engagement projects. For the 2024-25 state fiscal year, the act appropriates $60,208 to the department from the waste tire administration, enforcement, market development, and cleanup fund. The act appropriates $51,208 to the department of law from the money appropriated to the department. APPROVED by Governor June 6, 2024 PORTIONS EFFECTIVE June 6, 2024 PORTIONS EFFECTIVE July 1, 2025(Note: This summary applies to this bill as enacted.)
The act alters the name, membership, and issues of study of the task force for the consideration of facial recognition services to establish the artificial intelligence impact task force (task force). The membership of the task force includes 26 members who, on or before August 1, 2024, will be appointed by the governor, the president of the senate, the minority leader of the senate, the speaker of the house of representatives, and the minority leader of the house of representatives. Members include individuals that represent various organizations, communities, governmental entities, academia, and businesses related to the artificial intelligence and biometric technology industry. There are 4 legislative members of the task force. The issues of study for the task force are updated to include a broad approach to artificial intelligence technology, automated decision systems, and biometric technology. The task force shall consider issues related to: The definition of key terms, such as "artificial intelligence system" and "automated decision system" and types of artificial intelligence systems or automated decision systems that any state legislation or policy should cover; Establishing notice and disclosure requirements for companies that use artificial intelligence systems and automated decision systems; Creating a code of conduct or best practices for evaluating the ethical and equitable impact of using artificial intelligence systems and automated decision systems; Developing recommendations for how to protect disproportionately impacted communities and workers from algorithmic discrimination, including clear quantitative metrics by which to measure, assess, monitor, and prevent algorithmic discrimination; Developing recommendations for how the state can effectively govern artificial intelligence systems and automated decision systems; and Developing recommendations related to the use of facial recognition services and biometric technology. On or before February 1, 2025, the task force must submit a report to the joint technology committee and the governor's office that summarizes the findings and policy recommendations related to the task force's issues of study. The task force must meet at least 5 times between September 1, 2024, and February 1, 2025, and may meet as necessary after the task force submits the report. The task force is repealed September 1, 2027, and the task force is scheduled for sunset review prior to repeal. APPROVED by Governor June 6, 2024 EFFECTIVE June 6, 2024(Note: This summary applies to this bill as enacted.)
Section 2 of the act reinstates a refundable income tax credit (credit) that was available for the income tax year commencing on January 1, 2022, so that the credit is available for the income tax year commencing on January 1, 2024, and is available in a different amount to joint-filers. The credit is for a qualifying senior, which means a resident individual who: Is 65 years of age or older at the end of 2024; Has federal adjusted gross income (AGI) that is less than or equal to $75,000 if filing a single return, or less than or equal to $125,000 if filing a joint return; and Has not claimed the senior property tax exemption for the 2024 property tax year. The amount of the credit is: $800 for a qualifying senior filing a single return with federal AGI that is $25,000 or less. For every $500 of federal AGI above $25,000, the amount of the credit is reduced by $8. $800 for 2 taxpayers filing a joint return with federal AGI that is $25,000 or less. For every $500 of federal AGI above $25,000, the amount of the credit is reduced by $4. $400 for each taxpayer, in the case of 2 taxpayers who share the same primary residence and who may legally file a joint return but actually file separate returns, if both taxpayers claim the credit. For every $500 of federal AGI above $25,000, the amount of the credit is reduced by $4. Notwithstanding the income-based reductions in the allowable credit amount, a taxpayer who also qualifies for a property tax and rent assistance grant or heat assistance grant during calendar year 2024 is eligible to receive the full credit amount. Section 1 of the act requires the property tax administrator to provide reports from counties related to taxpayers who are eligible for and actually claim the senior property tax exemption. APPROVED by Governor June 6, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)
The act requires that the board of a special district, within 30 days of receiving a written request from any county, city and county, or municipality within the boundaries of which the special district operates or partly operates, provide the rate schedule for the special district's tap fees, system development fees, or other fees and charges that contemplate future water or sanitation system usage, and, upon request of the local government, provide any professional analyses and a detailed written justification of the costs and methodologies used to calculate those fees. APPROVED by Governor June 5, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)
Current law prohibits an individual who is under 18 years of age from using a wireless telephone when driving. Effective January 1, 2025, the act applies the prohibition to an individual who is 18 years of age or older and updates the term "wireless telephone" to " mobile electronic device". The act does not apply to an individual with a commercial driver's license who is operating a commercial vehicle. The following uses of mobile electronic devices are exempted: By an individual contacting a public safety entity; By a individual during an emergency; By an employee or contractor of a utility when responding to a utility emergency; By an employee or contractor of a city or county acting within the scope of the employee's or contractor's duties as a code enforcement officer or animal protection officer; or By a first responder. It is not a violation of the act to use a mobile electronic device in a motor vehicle that is at rest in a shoulder or lawfully parked. To cite an individual for a violation of the act, a law enforcement officer must see the individual use a mobile electronic device in a manner that caused the individual to drive in a careless and imprudent manner. The penalties for a violation are: For a first offense, $75 and 2 license suspension points; For a second offense within 24 months, $150 and 3 license suspension points; and For a third or subsequent offense within 24 months, $250 and 4 license suspension points. A violation will be dismissed if the individual produces proof of purchase of a hands-free accessory and affirms, under penalty of perjury, that the defendant has not previously claimed this option to dismiss. Current law requires a peace officer who makes a traffic stop to record the demographic information of the violator, whether a citation has been issued, and the violation cited. The act clarifies that the peace officer must record whether the act has been violated. The executive director of the department of transportation, in consultation with the chief of the Colorado state patrol, is required to create a campaign raising public awareness of the requirements of the bill and of the dangers of using mobile electronic devices when driving. APPROVED by Governor June 5, 2024 PORTIONS EFFECTIVE August 7, 2024 PORTIONS EFFECTIVE January 1, 2025(Note: This summary applies to this bill as enacted.)
The act refers a ballot issue to the voters at the November 2024 general election for approval of a 6.5% excise tax on the net taxable sales of firearm dealers, firearms manufacturers, and ammunition vendors (vendors) from the retail sale of any firearm, firearm precursor part, or ammunition in Colorado. The ballot issue allows the state to keep and spend all new excise tax revenue, as a voter-approved revenue change, and specifies that the revenue, estimated at $39 million in the first fiscal year, will be used to fund mental health services, including for military veterans and at-risk youth, school safety and gun violence prevention, and support services for victims of domestic violence and other violent crimes. If voters approve the ballot issue, then the state will have the authority to impose the excise tax and the rest of the act will become effective, except that the extension of the school security disbursement program cash fund, like the provision requiring submission of the ballot issue, is effective upon passage of the act. Beginning on April 1, 2025, the act requires every vendor to file a return and remit the excise tax due on the vendor's net taxable sales of firearms, firearm precursor parts, or ammunition in the state on a monthly basis, except that a vendor making $20,000 or less in such retail sales in a previous calendar year is not required to pay the tax unless and until the vendor's retails sales exceed $20,000 in a calendar year. Sales to peace officers, law enforcement agencies, and active duty military personnel are exempt from the tax and, thus, not counted as part of a vendor's net taxable sales subject to the tax. Th act also imposes a registration requirement, making it unlawful for any person to engage in the business of a firearms dealer, firearms manufacturer, or an ammunition vendor in the state without first having registered as a vendor with the executive director of the department of revenue (executive director) on a form prescribed by the executive director. Making sales of firearms, firearm precursor parts, or ammunition without first registering with the executive director is a petty criminal offense and may also be punished by civil penalties. A vendor must file a separate registration for each of the vendor's places of business in the state, and all registrations must be renewed every 2 years. The executive director may revoke a vendor's registration, after reasonable notice and a hearing, upon a finding that the vendor has violated a provision of the excise tax statutory scheme, including by failing to file a return, remit the proper amount of tax, or preserve or allow inspection of specified books and records. A vendor's false or fraudulent return or statement or willful evasion of the excise tax is punishable by criminal penalties. All money received and collected in payment of the excise tax will be deposited, first, in the firearms and ammunition excise tax cash fund (fund) created in the act and then transferred as follows: The first $30 million in the first fiscal year and that amount as adjusted for inflation or deflation in each fiscal year thereafter to the Colorado crime victim services fund in the division of criminal justice of the department of public safety for grants to enhance or provide services for crime victims or to support crime prevention; The next $8 million in each fiscal year to the behavioral and mental health cash fund, of which $5 million must be used by the behavioral health administration (BHA), in coordination with the division of veterans affairs, to continue and expand the veterans mental health services program, while the other $3 million must be used by the BHA to continue and expand access to behavioral health crisis response system services for children and youth; and The next $1 million in each fiscal year to the school security disbursement program cash fund to fund the school security disbursement program. Subject to annual appropriation by the general assembly, the department of revenue may expend money from the fund for direct and indirect costs associated with implementing and administering the excise tax. Additionally, on June 30, 2025, and June 30, 2026, the state treasurer shall transfer from the fund to the general fund an amount of money equal to the amount of money used, if any, in the state fiscal years 2024-25 and 2025-26 from the general fund to pay the costs of implementing and administering the excise tax. The act also makes technical changes to the behavioral and mental health cash fund and related program statutes and to the administration provisions of title 39 regarding the executive director's authority to implement and administer the excise tax. For the 2024-25 state fiscal year, $383,027 is appropriated to the department of revenue, of which $172,827 is reappropriated to the department of law for the purchase of legal services, for the implementation of the act. APPROVED by Governor June 5, 2024 PORTIONS EFFECTIVE June 5, 2024 PORTIONS EFFECTIVE on the date of the official declaration by the governor NOTE: This act takes effect only if, at the November 2024 statewide election, a majority of voters approve the ballot issue referred in accordance with section 39-37-201, Colorado Revised Statutes, created in section 1 of this act. If the voters approve the ballot issue, thenthis act takes effect on the date of the official declaration of the vote thereon by the governor; except that section 39-37-201, Colorado Revised Statutes, created in section 1 of this act, and section 24-33.5-1811, Colorado Revised Statutes, amended in section 3 of this act, take effect upon passage. (Note: This summary applies to this bill as enacted.)
The act allows an individual who has been convicted of a traffic infraction or a misdemeanor traffic offense to attend a driving improvement course for the purpose of waiving license suspension points for the conviction. The individual must complete a driving improvement course that is offered by a commercial driving school and is approved by the department of revenue (department). The department must adopt rules that: Set the number of points assessed for a conviction that may be waived for an individual who successfully completes a driving improvement course; Specify how often a points waiver may be claimed; Set procedures for claiming a points waiver; Establish a process for a commercial driving school to have a driving improvement course approved by the department; and Set fees that the department may charge a commercial driving school to offset the direct and indirect costs to implement the act. The act sets standards for the approval of driving improvement courses. The department may charge a commercial driving school both a fee to approve a driving improvement course and a fee for each individual who claims a points waiver. The fee must be set in an amount sufficient to offset the direct and indirect cost of administering the waiver program. APPROVED by Governor June 4, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)
The act repeals the following infrequently used tax expenditures: The catastrophic health insurance income tax deduction (sections 2 and 3 of the act); The non-resident disaster relief worker income tax subtraction (sections 4, 5, and 6); The medical savings account income tax deduction (sections 7, 8, 9, and 10); The childcare facility investment income tax credit (section 11); The school to career expenses income tax credit (section 12); The Colorado works program employer income tax credit (section 13); The income tax credit for purchase of uniquely valuable motor vehicle registration numbers (section 14); The low-emitting vehicles and commercial vehicles used in interstate commerce sales and use tax exemptions (sections 15, 16, 17, and 18); The biotechnology sales and use tax refund (sections 19 and 20); The rural broadband equipment sales and use tax refund (section 21); The first time home buyer savings account income tax deduction (sections 22, 23, 24, and 25); The aircraft gasoline and special fuel tax exemption (section 26); and The cigarette and tobacco bad debt tax credit for cigarette and tobacco wholesalers, distributors, and retailers that write off bad cigarette and tobacco tax debts (sections 27 and 28). The act also modifies several tax expenditures as follows: Section 29 of the act eliminates the requirement that the executive director of the department of revenue present the tax profile and expenditure report to the finance committees of the house of representatives and the senate; Section 30 clarifies that the purpose of the college tuition program income tax deduction is to create additional incentives for saving for college tuition not already created by other state or federal law and allows the wildfire mitigation deduction for tax years commencing before January 1, 2025, rather than for tax years commencing before January 1, 2026; Section 31 increases the maximum amount of a health-care preceptor income tax credit from $1,000 to $2,000, allows for a maximum of 3 credits per income tax year, and increases the maximum aggregate amount of the credit awarded to any one taxpayer from $1,000 to $6,000 for any income tax year; Section 32 changes the maximum amount a taxpayer may claim for the wildfire hazard mitigation income tax credit to $1,000 per income tax year for income tax years commencing on or after January 1, 2025, but prior to January 1, 2028. Section 33 requires a local government and a nonprofit to file an informational tax return as prescribed by the executive director of the department of revenue (informational tax return) rather than a corporate tax return when claiming an alternative transportation options income tax credit; Section 34 requires a local government and a nonprofit to file an informational tax return when claiming a conservation easement income tax credit; Section 35 requires a local government and a nonprofit to file an informational tax return when claiming an income tax credit for environmental remediation of contaminated land; On and after January 1, 2025, sections 36 and 37 exempt from sales and use tax the sale, storage, usage, or consumption of a modular home or any closed panel system utilized in construction of a factory-built residential structure; Section 38 states that the purpose of the renewable energy source sales and use tax exemption is to create additional incentives for developing renewable energy projects not already created by other state or federal law; Section 39 repeals detailed required reporting for enterprise zone tax credits; Section 40 extends the employer alternative transportation for employees tax credit until January 1, 2027; and Section 41 makes the income tax credit for employer expenditures for alternative transportation options for employees available through the 2026 income tax year, rather then through 2024 income tax year. APPROVED by Governor June 4, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)