CO HB1165

Exempts business personal property used to manufacture wind turbines or wind turbine components at the site where turbines will be placed into service from property tax for tax years beginning January 1, 2020 through December 31, 2029

Exemption applies only when property is used exclusively for on-site manufacturing of wind turbines or components

Bill establishes legislative findings that on-site manufacturing technology allows taller turbines with greater energy production and increased property tax and land lease revenue for local jurisdictions and landowners

Exemption qualifies as a uniform business personal property tax reduction authorized under Section 20(8)(b) of the Colorado Constitution

Takes effect 12:01 a.m. the day after the 90-day period following final adjournment, unless a referendum petition is filed, in which case approval by voters in November 2020 is required