CO SB049

Allows seniors to qualify for the senior property tax exemption for a new primary residence if medical necessity forced them to abandon their former primary residence, effective for property tax years beginning January 1, 2021

Requires a Colorado-licensed physician to certify on a state form that a medical condition necessitated the senior's departure from their former primary residence

Limits the exemption to seniors who have not previously received it under this provision and have not owned and occupied another primary residence since leaving their former home due to medical necessity

Modifies Colorado Revised Statutes 39-3-203 to add medical necessity as a qualifying condition alongside existing natural disaster provisions for the 10-year occupancy requirement

Takes effect 90 days after the 2020 legislative session ends (August 5, 2020) unless subject to a referendum petition requiring voter approval in November 2020