CO HB1291

Creates a Division of Conservation within the Department of Regulatory Agencies to administer the conservation easement tax credit program and replace the prior Division of Real Estate's role.

Establishes the Conservation Easement Oversight Commission with 8 members (including representatives from state agencies, certified conservation easement holders, and public members) to advise the Division and review tax credit certificate applications.

Requires conservation easement holders to be certified by the Division and implements a certification program to identify fraudulent or unqualified organizations before they can hold easements for which tax credits are claimed.

Establishes an application process for landowners seeking tax credit certificates, including appraisal requirements, deficiency review periods, and administrative appeal procedures, with strict 120-day processing timelines.

Creates the Conservation Cash Fund to support administration of the certification and tax credit certificate programs through application fees and other revenue; repeals previous conservation easement sections effective July 1, 2019.