CO HB1301

Establishes a definition of "controlled environment agricultural facility" (CEA facility) as a nonresidential structure using hydroponics, horticultural science, and computerized management to grow crops for human or livestock consumption, effective January 1, 2023.

Exempts agricultural equipment used in CEA facilities from property tax between January 1, 2023 and January 2, 2028.

Requires CEA facilities to be valued using cost, market, and income approaches to value for assessment purposes, with facilities valued based on actual use if not solely used for growing food crops.

Requires CEA facility owners to file an affidavit with the county assessor confirming the facility meets requirements and optimizes hydroponics, and to verify if hemp crops are not marijuana.

Mandates that CEA facilities cannot violate water court decrees or materially injure existing water rights granted under Colorado law.