CO HB1387

Eliminates refund interest on property tax abatements when erroneous taxes result from errors in oil and gas owner or operator statements.

Maintains existing refund interest eligibility (at 1% per month) for property tax abatement petitions filed before January 1, 2018.

For petitions filed on or after January 1, 2018, refund interest accrues from the date a complete abatement petition is filed, except when the error involves oil and gas owner/operator statements.

Creates a 6-month payment deadline for Article 7 statement errors: if the county pays the abatement or refund within 6 months of the petition filing, no refund interest is owed; if paid after 6 months, refund interest applies as normal.

Takes effect August 8, 2018 (or later if subject to voter referendum), and applies to abatement or refund petitions filed on or after the effective date.