HB 13-1174: Colorado Small Business Relief Act

• Increases the business personal property tax exemption to $25,000 for property tax years 2015-16 and to $50,000 for property tax years 2017-18

• Beginning January 1, 2019, exemption amounts adjust biennially for inflation, rounded upward to the nearest $100 increment, with the administrator certifying amounts by November 1 of each even-numbered year

• Exempts all locally assessed business personal property that has fully depreciated from property tax beginning January 1, 2015

• Intended to stimulate economy through capital investment incentives, reduce administrative burdens on small businesses and counties, and eliminate perpetual property tax on fully depreciated business property

• Takes effect 90 days after legislative adjournment (August 7, 2013) unless subject to referendum petition, in which case requires voter approval at November 2014 general election