HB 12-1029 Summary: Save Colorado Jobs Act

• Authorizes counties, municipalities, and special districts to negotiate incentive payments or tax credits with taxpayers who establish new business facilities or expand existing facilities.

• Limits annual incentive payments to 50 percent of taxes levied on taxable personal property at new or expanded business facilities for counties and municipalities; same limit applies to special districts.

• Allows agreement terms up to 4 years for counties and municipalities (or up to 10 years if made or renewed on or after June 3, 2002); special districts may negotiate agreements up to 10 years including renewals.

• Effective August 8, 2012, unless a referendum petition is filed within 90 days after final adjournment, in which case approval by voters at the November 2012 general election is required.