HB 13-1183 Summary

• Establishes a permanent annual cap of $45 million on total state income tax credits for conservation easement donations for tax years commencing on or after January 1, 2011, replacing previous year-specific limits of $22 million (2011-2012) and $34 million (2013)

• Requires the Division of Real Estate to process tax credit certificate applications in the order received and apply amounts exceeding the annual limit to the next available year with available capacity

• Limits claims placed on a wait list to no more than $15 million per calendar year when applications exceed the annual cap

• Extends the sunset date for the conservation easement tax credit program indefinitely rather than limiting it to calendar years 2011-2013

• Takes effect August 7, 2013, subject to approval by voters at the November 2014 general election