Amendments for HB24-1316
House Journal, March 12
33 HB24-1316 be amended as follows, and as so amended, be referred to
34 the Committee on Appropriations with favorable
35 recommendation:
36
37 Amend printed bill, page 7, line 24, strike "MAY" and substitute "SHALL".
38
39 Page 12, after line 17 insert:
40
41 "(1.5) IN ADDITION TO THE INFORMATION REQUIRED PURSUANT TO
42 SUBSECTION (1) OF THIS SECTION, BY DECEMBER 31 OF THE LAST
43 CALENDAR YEAR DURING WHICH CREDITS WERE ALLOCATED BY THE
44 AUTHORITY PURSUANT TO THIS PART 54, THE AUTHORITY SHALL INCLUDE
45 IN ITS ANNUAL REPORT THE FOLLOWING INFORMATION SUMMARIZING THE
46 MIDDLE-INCOME HOUSING TAX CREDIT PILOT PROGRAM CREATED IN THIS
47 PART 54:
48 (a) AN OVERVIEW OF THE DEMAND FOR AND UTILIZATION OF THE
49 MIDDLE-INCOME HOUSING TAX CREDIT PROGRAM CREATED IN THIS PART
50 54;
51 (b) A SUMMARY OF THE APPLICATIONS FOR AND ALLOCATIONS OF
52 THE TAX CREDIT CREATED IN THIS PART 54, BROKEN DOWN BY
53 GEOGRAPHIC LOCATION AND BY THE TAXPAYER APPLYING FOR THE
54 CREDIT;
55
1 (c) AN ANALYSIS, AS PRACTICABLE, OF THE IMPACT OF THE
2 MIDDLE-INCOME HOUSING TAX CREDIT PROGRAM CREATED IN THIS PART
3 54 ON THE FOLLOWING:
4 (I) MIDDLE-INCOME INDIVIDUALS AND FAMILIES IN THE
5 COMMUNITIES THAT THE QUALIFIED DEVELOPMENTS ARE INTENDED TO
6 SERVE;
7 (II) MIDDLE-INCOME INDIVIDUALS AND FAMILIES STATEWIDE;
8 (III) HOUSING NEEDS IN THE COMMUNITIES THAT THE QUALIFIED
9 DEVELOPMENTS ARE INTENDED TO SERVE; AND
10 (IV) HOUSING NEEDS STATEWIDE; AND
11 (d) ANY CHALLENGES OR OPPORTUNITIES RELATED TO THE
12 MIDDLE-INCOME HOUSING TAX CREDIT PROGRAM CREATED IN THIS PART
13 54, AS IDENTIFIED BY THE AUTHORITY.".
14
15
House Journal, April 30
45 Amendment No. 1, Finance Report, dated March 11, 2024, and placed in
46 member's bill file; Report also printed in House Journal, March 12, 2024.
47
48 Amendment No. 2, by Representative Lindstedt:
49
50 Amend printed bill, page 3, line 13, strike "39-22-5407." and substitute
51 "39-22-5408.".
52
53 Page 9, after line 8 insert:
54
55
1 "39-22-5404. Qualified development owned by governmental
2 or quasi-governmental entity. (1) NOTWITHSTANDING ANY OTHER
3 PROVISION OF THIS PART 54:
4 (a) THE AUTHORITY MAY ALLOCATE CREDITS TO ANY
5 GOVERNMENTAL OR QUASI-GOVERNMENTAL ENTITY, INCLUDING THE
6 MIDDLE-INCOME HOUSING AUTHORITY CREATED IN SECTION 29-4-1104,
7 WITH RESPECT TO A QUALIFIED DEVELOPMENT THAT IS OWNED BY SUCH
8 ENTITY.
9 (b) (I) A GOVERNMENTAL OR QUASI-GOVERNMENTAL ENTITY MAY
10 TRANSFER CREDITS ALLOCATED TO IT BY THE AUTHORITY TO ANY
11 QUALIFIED TAXPAYER.
12 (II) SUCH A GOVERNMENTAL OR QUASI-GOVERNMENTAL ENTITY
13 SHALL INVEST IN THE QUALIFIED DEVELOPMENT ANY COMPENSATION
14 RECEIVED IN CONNECTION WITH A TRANSFER OF CREDITS TO A QUALIFIED
15 TAXPAYER.
16 (III) A QUALIFIED TAXPAYER TO WHICH A CREDIT IS TRANSFERRED
17 PURSUANT TO THIS SUBSECTION (1)(b) IS ENTITLED TO CLAIM THE CREDIT
18 IN THE SAME MANNER AND SUBJECT TO THE SAME CONDITIONS AND
19 ALLOCATION RIGHTS AS AN OWNER OF A QUALIFIED DEVELOPMENT TO
20 WHICH THE AUTHORITY HAS ALLOCATED A CREDIT.
21 (c) (I) A CREDIT ALLOCATED TO A GOVERNMENTAL OR
22 QUASI-GOVERNMENTAL ENTITY OR A TRANSFEREE THEREOF IS SUBJECT TO
23 RECAPTURE PURSUANT TO SECTION 39-22-5405.
24 (II) IF A CREDIT TRANSFERRED TO A QUALIFIED TAXPAYER BY A
25 GOVERNMENTAL OR QUASI-GOVERNMENTAL ENTITY IS RECAPTURED
26 PURSUANT TO SECTION 39-22-5405, THE GOVERNMENTAL OR
27 QUASI-GOVERNMENTAL ENTITY SHALL NOTIFY THE DEPARTMENT OF THE
28 IDENTITY OF THE QUALIFIED TAXPAYER TO WHICH IT TRANSFERRED A
29 CREDIT.".
30
31 Renumber succeeding C.R.S. sections accordingly.
32
33 Amendment No. 3, by Representative Lindstedt:
34
35 Amend printed bill, page 12, after line 25 insert:
36
37 "SECTION 2. In Colorado Revised Statutes, 29-4-1107, amend
38 (14) as follows:
39 29-4-1107. Powers of the board - selection of projects -
40 ownership - report. (14) The authority shall not issue exempt facility
41 bonds, as defined in section 142(a) of the internal revenue code of 1986,
42 as amended, use private activity bonds volume cap allocation in the
43 issuance of any bonds, or receive a direct allocation, statewide balance
44 award or assignment of allocation of state ceiling under the Colorado
32 45 private activity bond ceiling allocation act set forth in part 17 of article
46 of title 24, and the authority shall not use federal LIHTC or THE
47 COLORADO state affordable housing tax credits CREDIT AUTHORIZED
48 UNDER PART 21 OF ARTICLE 22 OF TITLE 39 for its affordable rental
49 housing projects.".
50
51 Renumber succeeding section accordingly.
52
53 As amended, ordered engrossed and placed on the Calendar for Third
54 Reading and Final Passage.
55
56
Senate Journal, May 4
After consideration on the merits, the Committee recommends that HB24-1316 be
amended as follows, and as so amended, be referred to the Committee of the Whole with
favorable recommendation.
Amend reengrossed bill, page 7, strike lines 18 through 23 and substitute:
"(b) (I) THE AGGREGATE AMOUNT OF ALL CREDITS ALLOCATED BY THE
AUTHORITY IN EACH CALENDAR YEAR MUST NOT EXCEED THE FOLLOWING
AMOUNTS:
(A) FOR CALENDAR YEAR 2025, FIVE MILLION DOLLARS;
(B) FOR CALENDAR YEAR 2026, FIVE MILLION DOLLARS;
(C) FOR CALENDAR YEAR 2027, TEN MILLION DOLLARS;
(D) FOR CALENDAR YEAR 2028, TEN MILLION DOLLARS; AND
(E) FOR CALENDAR YEAR 2029, TEN MILLION DOLLARS.
(II) THE AUTHORITY MAY ALSO ALLOCATE ANY UNALLOCATED CREDITS
FROM PRECEDING CALENDAR YEARS, AND THESE UNALLOCATED CREDITS ARE
NOT INCLUDED IN THE ANNUAL DOLLAR LIMITS SPECIFIED IN SUBSECTION
(1)(b)(I) OF THIS SECTION.".
Strike "DECEMBER 31, 2027," and substitute "DECEMBER 31, 2029," on: Page
7, line 14; and Page 7, line 25.
Appro-
priations
Senate Journal, May 6
HB24-1316 by Representative(s) Lindstedt and Lindsay; also Senator(s) Bridges--Concerning the
creation of a pilot program for a middle-income housing income tax credit.
Senator Bridges moved to amend the Report of the Committee of the Whole to show that
the following Bridges floor amendment, (L.006) to HB24-1316, did pass, and that
HB24-1316, as amended, did pass.
Amend the Appropriations Committee Report, dated May 4, 2024, page 1,
line 13, strike "(1)(b)(I)" and substitute "(4)(b)(I)".