CO HB1036

Raises the business personal property tax exemption from $7,400 to $50,000 effective January 1, 2018, allowing businesses with personal property under this threshold to avoid filing tax forms and paying corresponding taxes.

Implements automatic biennial inflation adjustments to the $50,000 exemption starting in 2019, with adjustments calculated using the Denver-Aurora-Lakewood consumer price index and rounded upward to the nearest $100.

Increases the exemption threshold for consumable business personal property from $350 to $500, effective January 1, 2018.

Defines "installed cost" for exemption purposes to include acquisition cost, installation cost, sales or use tax, and freight expense to the point of use.

Takes effect August 8, 2018, subject to referendum petition; if challenged, the measure requires voter approval at the November 2018 general election to take effect.