SB 21-130 Summary

• Authorizes counties, municipalities, and special districts to exempt up to 100 percent of business personal property from property tax levy and collection for the property tax year commencing January 1, 2021.

• Allows local governments to provide tax relief to Colorado businesses impacted by COVID-19 pandemic restrictions, which caused an estimated 148,800 job losses in 2020.

• References House Bill 12-1029 (enacted 2012) as precedent for similar business personal property incentives that passed with bipartisan support without requiring school district fund backfilling.

• Declares the act necessary for immediate preservation of public peace, health, or safety, triggering emergency provisions.