CO HB1066

Expands existing property tax exemptions for nonprofit housing providers, community land trusts, and nonprofit affordable homeownership developers to include low-income residential rental properties, not just for-sale housing

Amends definitions throughout Colorado Revised Statutes to add "or rental" and "or renting" alongside existing homeownership language, allowing the same tax benefits for rental property development

Qualifying properties must be rented to households at or below 100% of area median income and used as the tenant's primary residence

Community land trusts and nonprofit developers that claim the exemption but later convert property to non-affordable use become liable for all back property taxes from the exempted years

Takes effect January 1, 2027, unless a referendum petition is filed, in which case voter approval at the November 2026 election would be required