Loading chat...
CO HB1421
Bill
Status
6/14/2020
Primary Sponsor
Dylan Roberts
Click for details
AI Summary
HB 20-1421 Summary
-
County commissioners or city councils may temporarily reduce, waive, or entirely suspend interest accrual on delinquent property taxes between June 15, 2020, and October 1, 2020, with county treasurer approval and by resolution.
-
Notice of intent to reduce or waive interest rates must be delivered to at least three executives or board officers in local taxing jurisdictions.
-
County treasurers or city and county tax collection officers may advance up to 90 percent of property tax amounts to local taxing jurisdictions to help pay bonded indebtedness or monthly operational costs upon submission of a letter to county commissioners or city council.
-
For jurisdictions using interest rate waivers or reductions, advance property tax amounts may not exceed the revenue shortfall necessary to cover bonded indebtedness payments, and only jurisdictions receiving less than 90 percent of property taxes due qualify for such advances.
-
Both new provisions expire and are repealed effective December 31, 2020.
Legislative Description
Delinquent Interest Payments Property Tax
Fiscal Policy & Taxes
Last Action
Governor Signed
6/14/2020