Amendments for HB24-1434
House Journal, April 30
1 HB24-1434 be amended as follows, and as so amended, be referred to
2 the Committee of the Whole with favorable
3 recommendation:
4
5 Amend printed bill, page 2, strike lines 2 through 5 and substitute:
6
7 "SECTION 1. In Colorado Revised Statutes, 39-22-2102, repeal
8 (2)(b); and add (7)(a.7) and (7.5) as follows:
9 39-22-2102. Credit against tax - affordable housing
10 developments - legislative declaration. (2) The authority may allocate
11 a credit to an owner of a qualified development by issuing to the owner
12 an allocation certificate. The authority may determine the time at which
13 such allocation certificate is issued. The credit shall be in an amount
14 determined by the authority, subject to the following guidelines:
15 (b) In no event shall a credit exceed thirty percent of the qualified
16 basis of the qualified development;
17 (7) During each calendar year".
18
19
House Journal, May 1
42 Amend engrossed bill, page 4, after line 15 insert:
43
44 "SECTION 2. In Colorado Revised Statutes, add part 54 to
45 article 22 of title 39 as follows:
54 46 PART
47 COLORADO AFFORDABLE HOUSING IN
48 TRANSIT-ORIENTED COMMUNITIES INCOME TAX CREDIT
49 39-22-5401. Tax preference performance statement. (1) IN
50 ACCORDANCE WITH SECTION 39-21-304 (1), WHICH REQUIRES EACH BILL
51 THAT CREATES A NEW TAX EXPENDITURE TO INCLUDE A TAX PREFERENCE
52 PERFORMANCE STATEMENT AS PART OF A STATUTORY LEGISLATIVE
53 DECLARATION, THE GENERAL ASSEMBLY FINDS AND DECLARES THAT THE
1 PURPOSE OF THE TAX CREDIT PROVIDED IN THIS SECTION IS TO INDUCE
2 CERTAIN DESIGNATED BEHAVIOR BY TAXPAYERS BY SUPPORTING THE
3 DEVELOPMENT OF AFFORDABLE HOUSING WITHIN TRANSIT-ORIENTED
4 COMMUNITIES.
5 (2) THE GENERAL ASSEMBLY AND THE STATE AUDITOR SHALL
6 MEASURE THE EFFECTIVENESS OF THE CREDIT IN ACHIEVING THE PURPOSE
7 SPECIFIED IN SUBSECTION (1) OF THIS SECTION BASED ON THE NUMBER AND
8 VALUE OF CREDITS ISSUED AND HOUSING UNITS BUILT.
9 39-22-5402. Definitions. AS USED IN THIS PART 54, UNLESS THE
10 CONTEXT OTHERWISE REQUIRES:
11 (1) "ALLOCATION CERTIFICATE" MEANS A STATEMENT ISSUED BY
12 THE AUTHORITY CERTIFYING THAT A GIVEN DEVELOPMENT QUALIFIES FOR
13 THE CREDIT AND SPECIFYING THE AMOUNT OF THE CREDIT ALLOWED.
14 (2) "ALLOCATION PLAN" MEANS AN ALLOCATION PLAN ADOPTED
15 BY THE AUTHORITY THAT GOVERNS THE SELECTION CRITERIA AND
16 PREFERENCES FOR ALLOCATING THE TAX CREDIT ALLOWED PURSUANT TO
17 THIS PART 54.
18 (3) "AUTHORITY" MEANS THE COLORADO HOUSING AND FINANCE
19 AUTHORITY CREATED PURSUANT TO SECTION 29-4-704.
20 (4) "CERTIFIED TRANSIT-ORIENTED COMMUNITY" MEANS:
21 (a) IN CALENDAR YEARS 2025, 2026, AND 2027, A
22 TRANSIT-ORIENTED COMMUNITY AS DEFINED IN SECTION 29-35-202 (13);
23 AND
24 (b) IN CALENDAR YEAR 2028 AND EACH SUBSEQUENT CALENDAR
25 YEAR, A TRANSIT-ORIENTED COMMUNITY, AS DEFINED IN SECTION
26 29-35-202 (13), THAT HAS BOTH SUBMITTED THE HOUSING OPPORTUNITY
27 GOAL REPORT DESCRIBED IN SECTION 29-35-204 (10) TO THE DIVISION AND
28 HAD THE DIVISION CONFIRM THAT THE TRANSIT-ORIENTED COMMUNITY
29 HAS MET ITS HOUSING OPPORTUNITY GOAL.
30 (5) "COMPLIANCE PERIOD" MEANS THE PERIOD OF FIFTEEN YEARS
31 BEGINNING WITH THE FIRST TAXABLE YEAR OF A CREDIT PERIOD.
32 (6) "CREDIT" MEANS THE COLORADO TRANSIT-ORIENTED
33 COMMUNITY HOUSING INCOME TAX CREDIT ALLOWED PURSUANT TO THIS
34 PART 54.
35 (7) "CREDIT PERIOD" MEANS THE PERIOD OF FIVE INCOME TAX
36 YEARS BEGINNING WITH THE INCOME TAX YEAR IN WHICH A QUALIFIED
37 DEVELOPMENT IS PLACED IN SERVICE. IF A QUALIFIED DEVELOPMENT IS
38 COMPRISED OF MORE THAN ONE BUILDING, THE DEVELOPMENT IS DEEMED
39 TO BE PLACED IN SERVICE IN THE INCOME TAX YEAR DURING WHICH THE
40 LAST BUILDING OF THE QUALIFIED DEVELOPMENT IS PLACED IN SERVICE.
41 (8) "DEPARTMENT" MEANS THE DEPARTMENT OF REVENUE.
42 (9) "DIVISION" MEANS THE DIVISION OF LOCAL GOVERNMENT OF
43 THE DEPARTMENT OF LOCAL AFFAIRS CREATED IN SECTION 24-32-103.
44 (10) "FEDERAL TAX CREDIT" MEANS THE FEDERAL LOW-INCOME
45 HOUSING TAX CREDIT PROVIDED BY SECTION 42 OF THE INTERNAL
46 REVENUE CODE.
47 (11) "METROPOLITAN PLANNING ORGANIZATION" HAS THE SAME
48 MEANING AS SET FORTH IN SECTION 29-35-103 (12).
49 (12) "NEIGHBORHOOD CENTER" HAS THE SAME MEANING AS SET
50 FORTH IN SECTION 29-35-202 (5).
51 (13) "QUALIFIED BASIS" MEANS THE QUALIFIED BASIS OF THE
52 DEVELOPMENT AS DETERMINED PURSUANT TO SECTION 42 OF THE
53 INTERNAL REVENUE CODE.
54 (14) "QUALIFIED DEVELOPMENT" MEANS A "QUALIFIED
42 55 LOW-INCOME HOUSING PROJECT", AS THAT TERM IS DEFINED IN SECTION
56 OF THE INTERNAL REVENUE CODE, THAT IS:
1 (a) LOCATED IN COLORADO;
2 (b) DETERMINED BY THE AUTHORITY TO BE ELIGIBLE FOR A
3 FEDERAL TAX CREDIT WHETHER OR NOT A FEDERAL TAX CREDIT IS
4 ALLOCATED WITH RESPECT TO SAID DEVELOPMENT; AND
5 (c) LOCATED IN A TRANSIT-ORIENTED CENTER WITHIN A CERTIFIED
6 TRANSIT-ORIENTED COMMUNITY OR IN A NEIGHBORHOOD CENTER WITHIN
7 A METROPOLITAN PLANNING ORGANIZATION.
8 (15) "QUALIFIED TAXPAYER" MEANS AN INDIVIDUAL, A PERSON,
9 FIRM, CORPORATION, OR OTHER ENTITY THAT OWNS AN INTEREST, DIRECT
10 OR INDIRECT, IN A QUALIFIED DEVELOPMENT AND IS SUBJECT TO THE
11 TAXES IMPOSED BY THIS ARTICLE 22.
12 (16) "TRANSIT CENTER" HAS THE SAME MEANING AS SET FORTH IN
13 SECTION 29-35-202 (11).
14 39-22-5403. Credit against tax - affordable housing located in
15 a transit-oriented community. (1) FOR INCOME TAX YEARS DURING THE
16 CREDIT PERIOD, THERE IS ALLOWED TO ANY QUALIFIED TAXPAYER A
17 CREDIT WITH RESPECT TO THE INCOME TAXES IMPOSED BY THIS ARTICLE
18 22 IN THE AMOUNT DETERMINED BY THE AUTHORITY PURSUANT TO THIS
19 PART 54.
20 (2) THE AGGREGATE AMOUNT OF CREDITS ALLOCATED BY THE
21 AUTHORITY IN EACH OF THE 2025 THROUGH 2029 CALENDAR YEARS, MUST
22 NOT EXCEED THE AGGREGATE AMOUNT OF:
23 (a) CREDITS AUTHORIZED AS FOLLOWS:
24 (I) FOR THE 2025 CALENDAR YEAR, EIGHT MILLION SIX HUNDRED
25 THOUSAND DOLLARS;
26 (II) FOR THE 2026 CALENDAR YEAR, SEVEN MILLION TWO
27 HUNDRED THOUSAND DOLLARS;
28 (III) FOR THE 2027 CALENDAR YEAR, FIVE MILLION SIX HUNDRED
29 THOUSAND DOLLARS;
30 (IV) FOR THE 2028 CALENDAR YEAR, FIVE MILLION DOLLARS; AND
31 (V) FOR THE 2029 CALENDAR YEAR, THREE MILLION SIX HUNDRED
32 THOUSAND DOLLARS; PLUS
33 (b) UNALLOCATED CREDITS, IF ANY, FOR THE IMMEDIATELY
34 PRECEDING CALENDAR YEAR; AND
35 (c) ANY CREDIT RECAPTURED OR OTHERWISE RETURNED TO THE
36 AUTHORITY IN THE CALENDAR YEAR.
37 (3) THE AUTHORITY MAY ALLOCATE A CREDIT TO AN OWNER OF A
38 QUALIFIED DEVELOPMENT BY ISSUING TO THE OWNER AN ALLOCATION
39 CERTIFICATE. THE AUTHORITY MAY DETERMINE THE TIME AT WHICH SUCH
40 ALLOCATION CERTIFICATE IS ISSUED. THE CREDIT MUST BE IN AN AMOUNT
41 DETERMINED BY THE AUTHORITY, SUBJECT TO THE FOLLOWING
42 GUIDELINES:
43 (a) THE CREDIT MUST BE NECESSARY FOR THE FINANCIAL
44 FEASIBILITY OF SUCH DEVELOPMENT;
45 (b) ALL ALLOCATIONS MUST BE MADE PURSUANT TO THE
46 ALLOCATION PLAN; AND
47 (c) THE AGGREGATE SUM OF CREDITS ALLOCATED ANNUALLY
48 MUST NOT EXCEED THE LIMITS SET FORTH IN SUBSECTION (2) OF THIS
49 SECTION.
50 (4) (a) ON OR AFTER JANUARY 1, 2025, BUT PRIOR TO DECEMBER
51 31, 2029, THE AUTHORITY MAY ALLOCATE A TOTAL AMOUNT OF THIRTY
52 MILLION DOLLARS IN CREDITS.
53 (b) THE TAXPAYER SHALL NOT CLAIM THE CREDIT RATABLY OVER
54 THE CREDIT PERIOD. INSTEAD, THE CREDIT MUST BE ACCELERATED AND
1 THE FULL AMOUNT MUST BE CLAIMED AGAINST THE TAXES IMPOSED BY
2 THIS ARTICLE 22 OVER THE CREDIT PERIOD ACCORDING TO THE FOLLOWING
3 SCHEDULE:
4 (I) THE AMOUNT OF THE CREDIT THAT A TAXPAYER CLAIMS IN THE
5 FIRST YEAR OF THE CREDIT PERIOD MUST EQUAL SEVENTY PERCENT OF THE
6 TOTAL AMOUNT OF THE CREDIT THE AUTHORITY ALLOCATES TO THE
7 TAXPAYER;
8 (II) THE AMOUNT OF THE CREDIT THAT A TAXPAYER CLAIMS IN THE
9 SECOND YEAR OF THE CREDIT PERIOD MUST EQUAL EIGHT PERCENT OF THE
10 TOTAL AMOUNT OF THE CREDIT THE AUTHORITY ALLOCATES TO THE
11 TAXPAYER;
12 (III) THE AMOUNT OF THE CREDIT THAT A TAXPAYER CLAIMS IN
13 THE THIRD YEAR OF THE CREDIT PERIOD MUST EQUAL EIGHT PERCENT OF
14 THE TOTAL AMOUNT OF THE CREDIT THE AUTHORITY ALLOCATES TO THE
15 TAXPAYER;
16 (IV) THE AMOUNT OF THE CREDIT THAT A TAXPAYER CLAIMS IN
17 THE FOURTH YEAR OF THE CREDIT PERIOD MUST EQUAL SEVEN PERCENT OF
18 THE TOTAL AMOUNT OF THE CREDIT THE AUTHORITY ALLOCATES TO THE
19 TAXPAYER; AND
20 (V) THE AMOUNT OF THE CREDIT THAT A TAXPAYER CLAIMS IN THE
21 FIFTH YEAR OF THE CREDIT PERIOD MUST EQUAL SEVEN PERCENT OF THE
22 TOTAL AMOUNT OF THE CREDIT THE AUTHORITY ALLOCATES TO THE
23 TAXPAYER.
24 (5) IF AN OWNER OF A QUALIFIED DEVELOPMENT RECEIVING AN
25 ALLOCATION OF A CREDIT IS A PARTNERSHIP, LIMITED LIABILITY COMPANY,
26 S CORPORATION, OR SIMILAR PASS-THROUGH ENTITY, THE OWNER MAY
27 ALLOCATE THE CREDIT AMONG ITS PARTNERS, SHAREHOLDERS, MEMBERS,
28 OR OTHER QUALIFIED TAXPAYERS IN ANY MANNER AGREED TO BY SUCH
29 PERSONS REGARDLESS OF WHETHER ANY SUCH PERSONS ARE DEEMED A
30 PARTNER FOR FEDERAL INCOME TAX PURPOSES. THE OWNER SHALL
31 CERTIFY TO THE DEPARTMENT THE AMOUNT OF CREDIT ALLOCATED TO
32 EACH PARTNER, SHAREHOLDER, MEMBER, OR OTHER QUALIFIED TAXPAYER.
33 EACH PARTNER, SHAREHOLDER, MEMBER, OR OTHER QUALIFIED TAXPAYER
34 ADMITTED AS A PARTNER, SHAREHOLDER, MEMBER, OR OTHER QUALIFIED
35 TAXPAYER OF THE OWNER PRIOR TO THE FILING OF A TAX RETURN
36 CLAIMING THE CREDIT IS ALLOWED TO CLAIM SUCH AMOUNT SUBJECT TO
37 ANY RESTRICTIONS SET FORTH IN THIS PART 54.
54 38 (6) NO CREDIT SHALL BE ALLOCATED PURSUANT TO THIS PART
39 UNLESS THE QUALIFIED DEVELOPMENT IS THE SUBJECT OF A RECORDED
40 RESTRICTIVE COVENANT REQUIRING THE DEVELOPMENT TO BE
41 MAINTAINED AND OPERATED AS A QUALIFIED DEVELOPMENT, AND IS IN
42 ACCORDANCE WITH THE ACCESSIBILITY AND ADAPTABILITY
43 REQUIREMENTS OF THE FEDERAL TAX CREDITS AND TITLE VIII OF THE
44 "CIVIL RIGHTS ACT OF 1968", AS AMENDED BY THE "FAIR HOUSING
45 AMENDMENTS ACT OF 1988", FOR A PERIOD OF FIFTEEN INCOME TAX
46 YEARS, OR SUCH LONGER PERIOD AS MAY BE AGREED TO BETWEEN THE
47 AUTHORITY AND THE OWNER, BEGINNING WITH THE FIRST TAXABLE YEAR
48 OF THE CREDIT PERIOD UNLESS CORRECTED WITHIN THE TIME THAT IS
49 APPLICABLE TO DEVELOPMENTS RECEIVING FEDERAL TAX CREDITS
50 PURSUANT TO SECTION 42(h)(6)(J) OF THE INTERNAL REVENUE CODE AS
51 APPLICABLE TO THE COVENANT DESCRIBED IN THIS SUBSECTION (6).
52 (7) THE ALLOCATED CREDIT AMOUNT MAY BE TAKEN AGAINST THE
53 TAXES IMPOSED BY THIS ARTICLE 22 FOR EACH INCOME TAX YEAR OF THE
54 CREDIT PERIOD AS SET FORTH IN SUBSECTION (4) OF THIS SECTION. ANY
55 AMOUNT OF CREDIT THAT EXCEEDS THE TAX DUE FOR AN INCOME TAX
56 YEAR MAY BE CARRIED FORWARD AS A TAX CREDIT AGAINST THE INCOME
1 TAX LIABILITY FOR THE THREE SUBSEQUENT TAX YEARS AND MUST BE
2 APPLIED FIRST TO THE EARLIEST YEARS POSSIBLE. ANY AMOUNT OF THE
3 CREDIT THAT IS NOT USED MUST NOT BE REFUNDED TO THE TAXPAYER.
4 (8) UNLESS OTHERWISE PROVIDED IN THIS PART 54 OR THE
5 CONTEXT CLEARLY REQUIRES OTHERWISE, THE AUTHORITY SHALL
6 DETERMINE ELIGIBILITY FOR A CREDIT AND ALLOCATE CREDITS IN
7 ACCORDANCE WITH THE STANDARDS AND REQUIREMENTS SET FORTH IN
8 THE ALLOCATION PLAN; HOWEVER, THE AUTHORITY SHALL ADMINISTER
9 THE CREDIT ALLOWED PURSUANT TO THIS PART 54 CONSISTENTLY WITH
10 THE CREDIT PURSUANT TO PART 21 OF THIS ARTICLE 22 EXCEPT TO THE
11 EXTENT THE ALLOCATION PLAN IS INCONSISTENT WITH PART 21 OF THIS
12 ARTICLE 22, IN WHICH CASE THE ALLOCATION PLAN CONTROLS.
13 NOTWITHSTANDING THE FOREGOING, ANY COMBINATION OF FEDERAL AND
14 STATE CREDITS, OR STANDALONE AMOUNT OF STATE CREDITS, ALLOWED
15 MUST BE THE LEAST AMOUNT NECESSARY TO ENSURE THE FINANCIAL
16 FEASIBILITY OF A QUALIFIED DEVELOPMENT.
17 39-22-5404. Recapture. (1) AS OF THE LAST DAY OF ANY
18 TAXABLE YEAR DURING THE COMPLIANCE PERIOD, IF THE AMOUNT OF THE
19 QUALIFIED BASIS OF A QUALIFIED DEVELOPMENT WITH RESPECT TO A
20 TAXPAYER IS LESS THAN THE AMOUNT OF THE QUALIFIED BASIS AS OF THE
21 LAST DAY OF THE PRIOR TAXABLE YEAR, THEN THE AMOUNT OF THE
22 TAXPAYER'S STATE INCOME TAX LIABILITY FOR THAT TAXABLE YEAR MUST
23 BE INCREASED BY THE CREDIT RECAPTURE AMOUNT.
24 (2) FOR PURPOSES OF SUBSECTION (1) OF THIS SECTION, THE
25 CREDIT RECAPTURE AMOUNT IS AN AMOUNT EQUAL TO THE AGGREGATE
26 DECREASE IN THE CREDIT ALLOWED TO THE TAXPAYER PURSUANT TO THIS
27 PART 54 FOR ALL PRIOR TAXABLE YEARS THAT WOULD HAVE RESULTED IF
28 THE ACCELERATED PORTION OF THE CREDIT ALLOWABLE BY REASON OF
29 THIS PART 54 WERE NOT ALLOWED FOR ALL PRIOR TAXABLE YEARS WITH
30 RESPECT TO THE REDUCED AMOUNT OF QUALIFIED BASIS DESCRIBED IN
31 SUBSECTION (1) OF THIS SECTION.
32 (3) FOR PURPOSES OF SUBSECTION (2) OF THIS SECTION, THE
33 ACCELERATED PORTION OF THE CREDIT FOR THE PRIOR TAXABLE YEARS
34 WITH RESPECT TO ANY AMOUNT OF QUALIFIED BASIS IS THE DIFFERENCE
35 BETWEEN:
36 (a) THE AGGREGATE AMOUNT OF THE CREDIT ALLOWED PURSUANT
37 TO THIS PART 54, NOTWITHSTANDING THIS SUBSECTION (3), FOR THE YEARS
38 WITH RESPECT TO SUCH QUALIFIED BASIS; AND
39 (b) THE AGGREGATE AMOUNT OF THE CREDIT THAT WOULD BE
40 ALLOWED PURSUANT TO THIS PART 54 FOR SUCH YEARS WITH RESPECT TO
41 THE QUALIFIED BASIS IF THE AGGREGATE CREDIT THAT WOULD HAVE BEEN
42 ALLOWABLE, BUT FOR THIS SUBSECTION (3), FOR THE ENTIRE COMPLIANCE
43 PERIOD WERE ALLOWABLE RATABLY OVER FIFTEEN YEARS.
44 (4) IN THE EVENT THAT RECAPTURE OF ANY CREDIT IS REQUIRED
45 IN ANY TAX YEAR, THE RETURN SUBMITTED FOR THAT TAX YEAR TO THE
46 DEPARTMENT SHALL INCLUDE THE PROPORTION OF CREDIT REQUIRED TO
47 BE RECAPTURED, THE IDENTITY OF EACH TAXPAYER SUBJECT TO THE
48 RECAPTURE, AND THE AMOUNT OF CREDIT PREVIOUSLY ALLOCATED TO
49 SUCH TAXPAYER.
50 (5) NOTWITHSTANDING SUBSECTION (1) OF THIS SECTION, CREDITS
51 ISSUED PURSUANT TO THIS PART 54 MUST NOT BE RECAPTURED IF A
52 QUALIFIED DEVELOPMENT, AFTER THE INITIAL AWARD OF CREDITS, CEASES
53 BEING LOCATED IN A TRANSIT-ORIENTED CENTER WITHIN A CERTIFIED
54 TRANSIT-ORIENTED COMMUNITY OR IN A NEIGHBORHOOD CENTER WITHIN
55 A METROPOLITAN PLANNING ORGANIZATION.
56
1 39-22-5405. Filing requirements. AN OWNER OF A QUALIFIED
2 DEVELOPMENT TO WHICH A CREDIT HAS BEEN ALLOCATED AND EACH
3 QUALIFIED TAXPAYER TO WHICH SUCH OWNER HAS ALLOCATED A PORTION
4 OF SAID CREDIT, IF ANY, SHALL FILE WITH THEIR STATE INCOME TAX
5 RETURN A COPY OF THE ALLOCATION CERTIFICATE ISSUED BY THE
6 AUTHORITY WITH RESPECT TO SUCH DEVELOPMENT AND A COPY OF THE
7 OWNER'S CERTIFICATION TO THE DEPARTMENT AS TO THE ALLOCATION OF
8 THE CREDIT AMONG THE QUALIFIED TAXPAYERS HAVING OWNERSHIP
9 INTERESTS IN THE DEVELOPMENT.
10 39-22-5406. Parallel credits - insurance premium taxes.
11 (1) ANY TAXPAYER WHO IS SUBJECT TO THE TAX ON INSURANCE
128 12 PREMIUMS ESTABLISHED BY SECTIONS 10-3-209, 10-5-111, AND 10-6-
13 AND THEREFORE EXEMPT FROM THE PAYMENT OF INCOME TAX AND WHO
54 14 IS OTHERWISE ELIGIBLE TO CLAIM A CREDIT PURSUANT TO THIS PART
15 MAY CLAIM SUCH CREDIT AND CARRY SUCH CREDIT FORWARD AGAINST
16 SUCH INSURANCE PREMIUM TAX ON ITS CALENDAR QUARTER ESTIMATED
17 TAX PAYMENTS MADE IN ACCORDANCE WITH SECTION 10-3-209 TO THE
18 SAME EXTENT AS THE TAXPAYER WOULD HAVE BEEN ABLE TO CLAIM OR
19 CARRY FORWARD SUCH CREDIT OR REFUND AGAINST INCOME TAX. ALL
20 OTHER PROVISIONS OF THIS PART 54 WITH RESPECT TO THE CREDIT,
21 INCLUDING THE AMOUNT, ALLOCATION, AND RECAPTURE OF THE CREDIT
22 AND THE YEARS FOR WHICH THE CREDIT MAY BE CLAIMED, APPLY TO A
23 CREDIT CLAIMED PURSUANT TO THIS SECTION.
24 (2) FOR PURPOSES OF ADMINISTERING THIS SECTION, ANY
25 REFERENCE IN THIS ARTICLE 22 TO "INCOME TAX YEAR" MEANS CALENDAR
26 YEAR.
27 39-22-5407. Compliance monitoring. THE AUTHORITY, IN
28 CONSULTATION WITH THE DEPARTMENT, SHALL MONITOR AND OVERSEE
29 COMPLIANCE WITH THIS PART 54 AND SHALL REPORT SPECIFIC
30 OCCURRENCES OF NONCOMPLIANCE TO THE DEPARTMENT.
31 39-22-5408. Repeal. THIS PART 54 IS REPEALED, EFFECTIVE
32 DECEMBER 31, 2049.
33 SECTION 3. In Colorado Revised Statutes, 39-26-123, amend
34 (3)(b)(II)(B) and (3)(b)(II)(C); and add (3)(b)(II)(D) and (3)(b)(II)(E) as
35 follows:
36 39-26-123. Receipts - disposition - transfers of general fund
37 surplus - sales tax holding fund - creation - definitions. (3) For any
38 state fiscal year commencing on or after July 1, 2013, the state treasurer
39 shall credit eighty-five percent of all net revenue collected under this
40 article 26 to the old age pension fund created in section 1 of article XXIV
41 of the state constitution. The state treasurer shall credit to the general fund
42 the remaining fifteen percent of the net revenue, less:
43 (b) (II) The amount credited to the housing development grant
44 fund created in section 24-32-721 (1) under subsection (3)(b)(I) of this
45 section is reduced by the following amounts:
46 (B) Forty million three hundred twenty-three thousand one
47 hundred fifty-eight dollars for the state fiscal year 2020-21; and
48 (C) Nine hundred eighty-five thousand three hundred thirty-five
49 dollars for the state fiscal year YEARS 2021-22, and each state fiscal year
50 thereafter 2022-23, AND 2023-24;
51 (D) THIRTY-FIVE MILLION NINE HUNDRED EIGHTY-FIVE THOUSAND
52 THREE HUNDRED THIRTY-FIVE DOLLARS FOR THE STATE FISCAL YEAR
53 2024-25 THROUGH STATE FISCAL YEAR 2031-32; AND
54 (E) NINE HUNDRED EIGHTY-FIVE THOUSAND THREE HUNDRED
55 THIRTY-FIVE DOLLARS FOR THE STATE FISCAL YEAR 2032-33 AND EACH
56 STATE FISCAL YEAR THEREAFTER.".
1 Renumber succeeding section accordingly.
2
3 The amendment was declared passed by the following roll call vote:
4
5 YES 48 NO 14 EXCUSED 3 ABSENT
6 Amabile Y English Y Lindstedt Y Sirota Y
7 Armagost N Epps N Luck E Snyder Y
8 Bacon Y Evans N Lukens E Soper N
9 Bird Y Frizell N Lynch N Story Y
10 Bockenfeld E Froelich Y Mabrey Y Taggart Y
11 Boesenecker Y Garcia Y Marshall Y Titone Y
12 Bottoms N Hamrick Y Martinez Y Valdez Y
13 Bradfield N Hartsook N Marvin Y Velasco Y
14 Bradley N Hernandez Y Mauro Y Vigil Y
15 Brown Y Herod Y McCormick Y Weinberg Y
16 Catlin Y Holtorf N McLachlan Y Weissman Y
17 Clifford Y Jodeh Y Ortiz Y Willford Y
18 Daugherty Y Joseph Y Parenti Y Wilson N
19 DeGraaf N Kipp Y Pugliese Y Winter T. N
20 deGruy Kennedy Y Lieder Y Ricks Y Woodrow Y
21 Duran Y Lindsay Y Rutinel Y Young Y
22 Speaker Y
23
24 The question being, "Shall the bill, as amended, pass?".
25 A roll call vote was taken. As shown by the following recorded vote, a
26 majority of those elected to the House voted in the affirmative, and the
27 bill, as amended, was declared passed.
28
29 YES 47 NO 15 EXCUSED 3 ABSENT
30 Amabile Y English Y Lindstedt Y Sirota Y
31 Armagost N Epps Y Luck E Snyder Y
32 Bacon Y Evans N Lukens E Soper N
33 Bird Y Frizell N Lynch N Story Y
34 Bockenfeld E Froelich Y Mabrey Y Taggart Y
35 Boesenecker Y Garcia Y Marshall Y Titone Y
36 Bottoms N Hamrick Y Martinez Y Valdez Y
37 Bradfield N Hartsook N Marvin Y Velasco Y
38 Bradley N Hernandez Y Mauro Y Vigil Y
39 Brown Y Herod Y McCormick Y Weinberg Y
40 Catlin N Holtorf N McLachlan Y Weissman Y
41 Clifford Y Jodeh Y Ortiz Y Willford Y
42 Daugherty Y Joseph Y Parenti Y Wilson N
43 DeGraaf N Kipp Y Pugliese N Winter T. N
44 deGruy Kennedy Y Lieder Y Ricks Y Woodrow Y
45 Duran Y Lindsay Y Rutinel Y Young Y
46 Speaker Y
47 Co-sponsor(s) added: Representative(s) Amabile, Bacon, Boesenecker, Brown,
48 Daugherty, deGruy Kennedy, Duran, English, Froelich, Hamrick, Herod,
49 Joseph, Kipp, Lieder, Lindsay, Lindstedt, Lukens, Mabrey, Marvin, Mauro,
50 McCormick, McLachlan, Ortiz, Ricks, Rutinel, Sirota, Snyder, Titone, Valdez,
51 Vigil, Weissman, Woodrow, Young, Speaker
52
Senate Journal, May 4
After consideration on the merits, the Committee recommends that HB24-1434 be
amended as follows, and as so amended, be referred to the Committee of the Whole with
favorable recommendation.
Amend reengrossed bill, page 3, line 4, strike "TWENTY" and substitute
"SIXTEEN".
Page 3, line 7, strike "TWENTY" and substitute "TWELVE".
Page 3, line 10, strike "SIXTEEN" and substitute "TWELVE".
Page 3, line 16, strike "SIXTEEN" and substitute "TWENTY".
Page 3, line 19, strike "TEN" and substitute "TWENTY".
Page 3, line 22, strike "TEN" and substitute "TWENTY".
Page 7, lines 24 and 25, strike "EIGHT MILLION SIX HUNDRED THOUSAND" and
substitute "TWO MILLION".
Page 7, lines 26 and 27, strike "SEVEN MILLION TWO HUNDRED THOUSAND" and
substitute "TWO MILLION".
Page 8, lines 1 and 2, strike "FIVE MILLION SIX HUNDRED THOUSAND" and
substitute "TWO MILLION".
Page 8, line 3, strike "FIVE" and substitute "ELEVEN".
Page 8, lines 4 and 5, strike "THREE MILLION SIX HUNDRED THOUSAND" and
substitute "THIRTEEN MILLION".
Appro-
priations