CO SB130

Allows transferees of conservation easement tax credits transferred before January 1, 2014, to claim a credit for good-faith losses incurred when the Department of Revenue denied their transferred credit claims.

Defines good-faith loss as the amount claimed to settle income tax liability using a transferred credit, plus interest and penalties, minus any discount originally received when purchasing the credit.

Permits transferees to claim 20% of their good-faith loss annually over five consecutive tax years beginning with the 2016 tax year, with a requirement to claim in 2016 to be eligible for subsequent years.

Unused credits may be carried forward for up to seven years total but cannot be refunded, and no credits may be claimed for tax years beginning on or after January 1, 2021.

Requires the Department of Revenue to publish information about the credit availability and make reasonable attempts to notify qualifying transferees by mail or electronic means; this provision repeals effective January 1, 2030.