CO SB129

SB26-129: Mitigate Impacts of Tax Increment Financing

• Taxing entities affected by proposed urban renewal, county revitalization, or downtown development authority plans must file either a certification or technical rebuttal to impact reports within 45 days
• Impact reports are automatically presumed certified if a taxing entity fails to respond within the 45-day deadline
• Legislative Council staff must prepare an annual report beginning October 1, 2027, quantifying property tax revenue diverted from education funding due to tax increment financing
• Defines "taxing entity" as any public body levying sales or property taxes whose revenue is allocated under these financing plans
• Takes effect August 12, 2026, unless subjected to a referendum petition