CO HB1305

Allows taxpayers with renewable energy investments in Colorado enterprise zones to annually elect to receive refunds of investment tax credit carryovers, up to $1.25 million per income tax year.

For every 85 cents received as a refund, the taxpayer's investment tax credit carryover is reduced by one dollar, reducing the state's liability by 15 percent.

Applies to taxpayers who made renewable energy investments prior to the bill's effective date or after, with refund elections made on the taxpayer's original income tax return.

Requires taxpayers electing refunds to file a one-time affidavit with the Colorado Economic Development Commission stating their intention to make further renewable energy investments within 5 years.

Establishes annual reporting requirements for the Colorado Economic Development Commission to post enterprise zone investment tax credit information on its website, including renewable energy investment data by November 1, 2019.