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Bill Detail: HB19-1264

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Title Conservation Easement Tax Credit Modifications
Status Sent to the Governor (05/20/2019)
Bill Subjects
  • Natural Resources & Environment
  • State Government
House Sponsors D. Roberts (D)
J. Wilson (R)
Senate Sponsors F. Winter (D)
K. Donovan (D)
House Committee Rural Affairs and Agriculture
Senate Committee Finance
Date Introduced 03/22/2019
Description

A conservation easement is an agreement in which a property
owner agrees to limit the use of his or her land in perpetuity in order to
protect one or more specified conservation purposes. The instruments

creating the conservation easement are recorded in the public records
affecting the ownership of the property. The conservation easement is
held by a third party (holder), which monitors the use of the land and
ensures that the terms of the agreement are upheld. A state income tax
credit is currently allowed for a portion of the value of a donated
conservation easement.
The statutes establishing the conservation easement oversight
commission and the program to certify conservation easement holders in
the division of conservation are currently set to repeal on July 1, 2019.
The bill extends the repeal dates for each to July 1, 2026. In addition, the
bill would:
  • Eliminate a requirement that the board of real estate
appraisers establish education and experience requirements
for conservation easement appraisers;
  • Relocate and modify certain provisions governing the
creation and valuation of conservation easements;
  • Allow the division of conservation to use an alternative
method acceptable to the division and the conservation
easement oversight commission to value a conservation
easement;
  • Modify provisions governing a conservation easement
working group convened to address specified issues
relating to claiming a state income tax credit for the
donation of a conservation easement;
  • Require the owner of property who is granting a
conservation easement to execute a disclosure form
developed by the division of conservation and the
conservation easement oversight commission regarding the
easement;
  • Modify provisions governing when a conservation
easement may be extinguished;
  • Prohibit a conservation easement for which a state income
tax credit has been allowed from being released,
terminated, extinguished, or abandoned by merger, which
occurs when the same entity holds both the easement and
the land subject to the easement;
  • Increase the percentage of the value of a conservation
easement that may be claimed as an income tax credit and
the total amount that may be claimed for the easement,
while limiting the amount of credits that may be issued per
year; and
  • Make an appropriation to Colorado state university to
facilitate the provision of public access to the Colorado
ownership, management, and protection (COMaP) service
which maintains a database and corresponding map of
conservation easements and other protected lands in
Colorado.
Additionally, the bill makes conforming amendments to certain
statutory sections contained in HB 19-1172, which recodifies title 12, to
ensure that the provisions of the bill will be effective if HB 19-1172
becomes law.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (04/25/2019) (most recent)  
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