Loading chat...
CO SB086
Bill
Status
Introduced
1/20/2010
Primary Sponsor
Kevin Priola
Click for details
AI Summary
- Exempts a percentage of fully depreciated business personal property from property tax beginning with the 2011 tax year, phasing in over 12 years until complete exemption in 2023
- Exemption percentages increase every 4 years: 25% (2011-2014), 50% (2015-2018), 75% (2019-2022), and 100% (2023 and thereafter)
- Determines depreciation status using manuals, appraisal procedures, and instructions prepared by the Property Tax Administrator
- New exemption applies before the existing exemption under section 39-3-119.5, which is calculated on a per personal property schedule basis
- Act subject to referendum petition and takes effect August 11, 2010, unless rejected by voters in November 2010
Legislative Description
Phased-in Fully Depreciated Prop Exempt
Last Action
Senate Committee on State, Veterans & Military Affairs Postpone Indefinitely
2/17/2010
Committee Referrals
State, Veterans & Military Affairs1/20/2010
Full Bill Text
No bill text available