CO HB1123

Places a 3-year moratorium on the state income tax credit for conservation easement donations from January 1, 2019, through December 31, 2021.

Allows the credit to resume for income tax years commencing on or after January 1, 2022, and continues to allow credits over $100,000 for tax years beginning January 1, 2003 and later.

Restricts the credit to donations of perpetual conservation easements on Colorado real property to governmental entities or qualified charitable organizations that meet federal Internal Revenue Code section 170 requirements.

Excludes from the credit calculation any value of easements on real property located outside Colorado.

Takes effect 12:01 a.m. on the day following the 90-day period after final adjournment of the general assembly (August 8, 2018), subject to referendum petition approval if challenged.