CO HB1228

Increases the aggregate annual tax credit allocation for the Colorado Housing and Finance Authority under the Colorado Affordable Housing Tax Credit from $5 million to $10 million beginning January 1, 2020

Maintains the $5 million annual limit for credits allocated between January 1, 2015, and December 31, 2019, with an exception for credits allocated in 2015 and 2016 for qualified developments in counties impacted by natural disasters

Credits apply to affordable housing developments and may be claimed against taxes imposed for each taxable year during a six-year credit period

Takes effect September 1, 2019, subject to voter approval if a referendum petition is filed within 90 days after final adjournment of the general assembly