Legislative Oversight Committee Concerning Tax Policy. The bill establishes that, for property tax years commencing on or after January 1, 2026, a short-term rental unit, which is an improvement that is designated and used as a place of residency by a person, family, or families, but that is also leased for overnight lodging for less than 30 consecutive days in exchange for a monetary payment (short-term stay) and is not a primary residence, and the land upon which the improvement is located, may be classified as either residential real property or lodging property. If, during the previous property tax year, a short-term rental unit was leased for short-term stays for more than 90 days, then it is classified as lodging property. Otherwise, it is classified as residential real property. Actual value for a short-term rental unit that is classified as lodging property is to be determined solely by application of the market approach to appraisal. The bill also specifies, with an exception for a property that qualifies as a bed and breakfast, that a building designed for use predominantly as a place of residency by a person, a family, or families but that is actually used, or available for use, to provide short-term stays only is a hotel and motel. For purposes of applying the classification of either residential or lodging to a short-term rental unit, annually, the assessor is required to send notice to owners of short-term rental units of the number of days during the prior property tax year that the assessor has determined the property was leased for short-term stays. An owner must sign and return the notice and, if the owner disputes the number of days the property was leased for short-term stays, the owner must provide evidence demonstrating a different number of days the property was leased for short-term stays. Additionally, the property tax administrator is required to establish and administer a pilot program to develop a statewide database and uniform reporting system to track short-term rental units. (Note: This summary applies to this bill as introduced.)
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The act enacts the softbound volumes of the Colorado Revised Statutes 2023, the subsequent changes approved by the voters at the statewide election on November 7, 2023, and the 2023 Colorado First Extraordinary Session Supplement as the positive and statutory law of the state of Colorado and establishes the effective date of said publication. APPROVED by Governor February 20, 2024 EFFECTIVE February 20, 2024(Note: This summary applies to this bill as enacted.)
A county assessor is required to complete an assessment roll of all taxable property within the assessor's county and an accompanying abstract of assessment (abstract) on or before either August 25 or November 21 of every year, depending on certain conditions. During the first extraordinary session of the seventy-fourth general assembly, the general assembly enacted, and the governor signed on November 20, 2023, Senate Bill 23B-001, which modified the valuation for assessment for residential real property for the 2023 property tax year and accordingly rendered inaccurate the abstracts completed on or before August 25, 2023, and November 21, 2023. The act requires a county assessor to prepare an updated abstract and file a copy of that abstract, along with updated versions of other information that a county assessor is required to append to an abstract, with the property tax administrator no later than February 20, 2024. APPROVED by Governor February 15, 2024 EFFECTIVE February 15, 2024(Note: This summary applies to this bill as enacted.)
$87,910 is appropriated from the general fund to the department of the treasury for the 2023-24 state fiscal year to support the administration of property tax deferrals for the 2023 property tax year as part of the property tax deferral program. APPROVED by Governor November 20, 2023 EFFECTIVE November 20, 2023(Note: This summary applies to this bill as enacted.)
Valuation changes. For the 2023 property tax year, section 1 of the act reduces the valuation for assessment (valuation) for multi-family residential real property and all other residential real property from the already temporarily reduced 2023 rate of 6.765% of the amount equal to the actual value minus the lesser of $15,000 or the amount that causes the valuation to be $1,000 to 6.7% of the amount equal to the actual value minus the lesser of $55,000 or the amount that causes the valuation to be $1,000. Reimbursement of local governments. The state is currently required to reimburse (backfill) local governmental entities for property tax revenue lost as a result of reductions in valuation enacted in 2022. The act maintains this 2022 backfill mechanism for those property tax reductions. Section 2 provides an additional backfill mechanism to backfill local governmental entities for property tax revenue lost as a result of the additional reductions in valuation enacted in the act. Section 2 requires the state to backfill the following local governmental entities a total of $54,000,000 for the total amount of property tax revenue lost by those local governmental entities as a result of the reductions in valuation in the act in the same manner as the 2022 backfill mechanism, except that: Ambulance districts, fire districts, and health districts are reimbursed entirely; Local governmental entities for which the assessed value of property in the local governmental entity increased by 15% or more between the 2022 and 2023 property tax years are not reimbursed at all; and The executive director of the department of local affairs and the property tax administrator shall determine, in a manner that is equitable with the amounts that fire districts are reimbursed, the amount that local governmental entities that provide fire protection services are reimbursed. Section 2 also modifies both backfill mechanisms by: Specifying that the amount of revenue lost for a property tax year is based on a local governmental entity's mill levy for the 2022 property tax year, excluding specified mills; Clarifying how local governmental entities, which are defined in the act, are treated if their boundaries are in more than one county for purposes of the backfill; and Requiring the state treasurer to reduce a backfill to a local government entity as necessary to prevent the local governmental entity from exceeding its constitutional fiscal year spending limit. Transfer to the state public school fund. Section 2 requires the state treasurer to transfer $146 million from the general fund to the state education fund to offset school district property tax revenue reductions. Local government budget deadlines. Sections 4 to 6 modify provisions in the "Local Government Budget Law of Colorado" for the 2024 fiscal year to account for impacts on a local government's budget due to changes to the assessed valuation of property within the local government's boundaries. Delinquent property tax payments. Section 14 waives the accrual of interest on delinquent property tax payments for the first payment of property taxes for the 2023 property tax year if a payment is made within 10 days after the mailing by the county treasurer of the property taxpayer's tax statement or notification of an electronic statement. Property tax deadlines. Sections 3 and 9 to 13 delay deadlines as necessary due to the valuation changes for the 2023 property tax year. APPROVED by Governor November 20, 2023 EFFECTIVE November 20, 2023(Note: This summary applies to this bill as enacted.)
For the income tax year commencing on January 1, 2024, the act increases the earned income tax credit that a resident individual can claim on their state income tax return from 25% to 38% of the federal credit claimed on the resident individual's federal income tax return. The amount a taxpayer can claim as an income tax credit for the state child tax credit has been calculated based on a percentage, which varies depending on the taxpayer's income level, of what the taxpayer claimed for a federal child tax credit. For income tax years commencing on and after January 1, 2024, the act restructures the state child tax credit so that the amount of the credit that a taxpayer can claim is a flat rate instead of a percentage of what the taxpayer claimed for the federal child tax credit as follows: A taxpayer filing a single return with adjusted gross income of $25,000 or less and taxpayers filing a joint return with adjusted gross income of $35,000 or less can claim $1,200; A taxpayer filing a single return with adjusted gross income greater than $25,000 but less than or equal to $50,000 and taxpayers filing a joint return with adjusted gross income greater than $35,000 but less than or equal to $60,000 can claim $600; and A taxpayer filing a single return with adjusted gross income greater than $50,000 but less than or equal to $75,000 and taxpayers filing a joint return with adjusted gross income greater than $60,000 but less than or equal to $85,000 can claim $200. The act also provides that for income tax years commencing on and after January 1, 2025, the department of revenue must adjust the adjusted gross income amounts to reflect inflation if cumulative inflation since the last adjustment, when applied to the current limits, results in an increase of at least $1,000 when the adjusted limits are rounded to the nearest $1,000. APPROVED by Governor June 7, 2023 EFFECTIVE August 7, 2023 NOTE: This act was passed without a safety clause and takes effect 90 days after sine die. (Note: This summary applies to this bill as enacted.)
The act makes the following changes to the "Colorado Open Records Act" (CORA): Prohibits a custodian of public records from requiring a requester to provide any form of identification to request or inspect records pursuant to CORA unless a requester is otherwise required to provide identification pursuant to law; Clarifies that if a public record is available in a digital format that is searchable, the custodian is required to provide a digital copy of the record in a searchable format unless otherwise requested by the requester; Specifies that if a public record is available in a digital format, the custodian is required to transmit copy of the record in a digital format by electronic mail or by another mutually-agreed upon transmission method if the size of the record prevents transmission by electronic mail; Prohibits a custodian from converting a digital record into a non-searchable format prior to transmission; Allows a custodian to deny a requester's right to inspect the telephone number or home address that a person provides to an elected official, agency, institution, or political subdivision of the state for the purpose of future communication with the elected official, agency, institution, or political subdivision of the state; Notwithstanding specified provisions of law, makes certain records of sexual harassment complaints made against an elected official and the results or report of investigations regarding alleged sexual harassment by an elected official available for inspection if the investigation concludes that the elected official is culpable for any act of sexual harassment; Requires each member of the general assembly, the governor's office and each office of the governor, and each state agency and institution to submit, on or before January 1, 2024, a report to the staff of the legislative council of the general assembly outlining its respective electronic mail retention policy; Prohibits a custodian from charging a per-page fee for providing copies of a public record if the record is provided in a digital or electronic format; and Requires a custodian to allow records requesters to pay any fee or deposit associated with the request via a credit card or electronic payment if the custodian allows members of the public to pay for any other service or product provided by the custodian with a credit card or electronic payment. APPROVED by Governor June 6, 2023 EFFECTIVE August 7, 2023 NOTE: This act was passed without a safety clause and takes effect 90 days after sine die. (Note: This summary applies to this bill as enacted.)
The act requires the transportation commission to annually allocate $1.5 million from the state highway fund to the department of transportation for allocation to the office of transportation safety (office), which will then distribute the money to local governments that implement high-visibility alcohol and drug impaired driving prevention enforcement episodes. The act also requires local law enforcement agencies to follow written policies and procedures about racial profiling and use of force, complete in-service training annually, implement a recognizable pattern by which vehicles are stopped to prevent a bias-motivated stop, and locate checkpoints in areas where drunk or impaired driving crashes are likely to occur. No money may be allocated to a law enforcement agency subject to a judicially-ordered consent decree. In collaboration with the department of public safety, the office will publish an annual report. A law enforcement agency not complying with the requirements of the act may lose funding or be required to pay back funding already received. The attorney general may bring a civil action to enforce the act. APPROVED by Governor June 5, 2023 EFFECTIVE June 5, 2023 (Note: This summary applies to this bill as enacted.)
The act defines terms related to federal firearm licenses and firearm components, including "frame or receiver of a firearm" and "unfinished frame or receiver." The act prohibits: On and after January 1, 2024, knowingly possessing or transporting an unfinished firearm frame or receiver, unless it has been imprinted with a serial number as required by federal law; Knowingly selling, offering to sell, transferring, or purchasing an unfinished firearm frame or receiver, unless it has been imprinted with a serial number as required by federal law; On and after January 1, 2024, knowingly possessing, purchasing, transporting, or receiving a firearm or frame or receiver of a firearm that is not imprinted with a serial number; Knowingly selling, offering to sell, or transferring a firearm or frame or receiver of a firearm that is not imprinted with a serial number; and Manufacturing or causing to be manufactured a frame or receiver of a firearm; unless the manufacturer is a federally licensed firearm manufacturer. The act includes exceptions for each type of prohibited conduct, including specified exceptions for conduct involving federal firearm licensees and transfers to serialize a frame or receiver. A person who commits any of the prohibited conduct commits unlawful conduct involving an unserialized firearm, frame, or receiver. Unlawful conduct involving an unserialized firearm, frame, or receiver is a class 1 misdemeanor; except that a second or subsequent offense is a class 5 felony. The act requires a person who, on the effective date of the act, owns a firearm, frame, or receiver that the person manufactured and that is not imprinted with a serial number by a federal firearms licensee, to have the firearm, frame, or receiver imprinted with a serial number no later than January 1, 2024. The act prohibits the Colorado bureau of investigation from approving the transfer of a firearm to a person who was convicted of misdemeanor unlawful conduct involving an unserialized firearm, frame, or receiver within 5 years prior to the transfer. A person convicted of felony unlawful conduct involving an unserialized firearm, frame, or receiver is prohibited from possessing a firearm or other weapon. The act permits a federal firearms licensee to imprint a serial number on a firearm or a firearm frame or receiver and establishes a process and requirements for licensees to serialize firearms. Existing law prohibits possession of a dangerous weapon. The act defines "machine gun conversion device" and makes machine gun conversion devices a dangerous weapon under Colorado law. APPROVED by Governor June 2, 2023 PORTIONS EFFECTIVE June 2, 2023 PORTIONS EFFECTIVE January 1, 2024 (Note: This summary applies to this bill as enacted.)
The act creates a task force to study victim and survivor awareness and responsiveness training requirements for judicial personnel (task force) in the office for victims programs in the division of criminal justice. The task force consists of members who have experience representing victims and survivors of domestic violence, sexual assault, or other crimes; lived experience as a victim or survivor of domestic violence, sexual assault, or other crimes; or are members of the judicial community. The task force is required to analyze current training provided to judicial personnel around the country on topics of domestic violence, sexual assault, and other crimes, in order to determine best practices and training requirements for judicial personnel in the state. The act requires the task force to establish a working group to analyze and determine training standards for judicial personnel regarding issues relevant to domestic relations cases and must consider data provided to the working group by the office of the state court administrator. The office of the state court administrator must provide the working group with the described data not later than November 1, 2023. The task force is required to convene by July 15, 2023, and is required to meet at least 4 times but not more than 10 times no later than January 15, 2024. The task force is required to submit a report with its findings and recommendations to the house of representatives judiciary committee and the senate judiciary committee, or their successor committees, and the judicial department by February 1, 2024. The task force is repealed, effective July 1, 2024. The act appropriates $11,900 from the general fund to the department of public safety for use by the division of criminal justices for administrative services. APPROVED by Governor May 25, 2023 EFFECTIVE May 25, 2023 (Note: This summary applies to this bill as enacted.)