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Second Regular Session
Seventy-fifth General Assembly
STATE OF COLORADO
INTRODUCED
LLS NO. 26-0561.01 Alison Killen x4350 SENATE BILL 26-116
Senate Committees House Committees
Finance
A BILL FOR AN ACT
CONCERNING THE TAXATION OF PROPERTY , AND , IN CONNECTION101
THEREWITH, AUTHORIZING MUNICIPALITIES TO LEVY A102
LODGING TAX, CLARIFYING THE VALUATION FOR ASSESSMENT103
OF LODGING PROPERTY , EXTENDING THE PORTABLE104
QUALIFIED -SENIOR PRIMARY RESIDENCE BENEFIT , AND105
MODIFYING THE TAXATION OF BUSINESS PERSONAL PROPERTY.106
Bill Summary
(Note: This summary applies to this bill as introduced and does
not reflect any amendments that may be subsequently adopted. If this bill
passes third reading in the house of introduction, a bill summary that
applies to the reengrossed version of this bill will be available at
http://leg.colorado.gov.)
Sections 1, 2, and 3 of the bill give municipalities the authority,
SENATE SPONSORSHIP
Weissman,
HOUSE SPONSORSHIP
Zokaie,
Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
Capital letters or bold & italic numbers indicate new material to be added to existing law.
Dashes through the words or numbers indicate deletions from existing law.
upon voter approval, to levy a lodging tax up to the same rate and for the
same purposes allowed to counties to be collected, administered, and
enforced by the state. The bill prohibits, commencing on and after
January 1, 2027, any municipal tax on lodging or on the business of
providing lodging that is not a municipal lodging tax adopted in
accordance with the requirements of section 3. An existing municipal tax
on lodging or on the business of providing lodging adopted on or before
December 31, 2026, is allowed to continue under the bill. However, there
can be no tax rate increase, expansion of tax base, or material change in
uses of the tax revenue absent adoption of a municipal lodging tax that is
in accordance with the requirements of section 3.
Section 4 clarifies that, notwithstanding any provision of law to
the contrary, in any case in which the income approach is used to
determine the actual value of any lodging property, the assessor shall
include "net rental income" and "resort fee income", each income amount
capitalized to value at a rate typical within the relevant market in the
actual value of the lodging property. "Net rental income" means the net
operating income generated from payments made in connection with the
rental of the lodging property, including any unit within or connected to
the lodging property, whether or not the unit is individually and separately
owned, after the deduction of expenses typical in the relevant market and
excluding any rents remitted to a unit owner for use of the owner's unit.
"Resort fee income" means the net income generated from the collection
of any fee or charge, however denominated, by the property, that is
retained by the property but does not include any fee or charge amounts
that the property remits to any county, city, city and county, special
district, or other local government.
Sections 5 and 6 extend the portable qualified-senior primary
residence benefit created for property tax years 2025 and 2026 to future
property tax years.
Section 7 changes the state property tax exemption for business
personal property, commencing on and after January 1, 2027, by setting
the exemption threshold for such property at $60,000, without an
adjustment for inflation, and by eliminating the reimbursement provision
for property tax losses due to the exemption.
Sections 8 and 9 subject the municipal lodging tax authorized by
section 3 to the department of revenue's administrative scope and
mandatory electronic filing and payment requirements.
Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. In Colorado Revised Statutes, 29-2-201, amend2
(8)(e) and (8)(f); and add (8)(g) as follows:3
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29-2-201. Definitions.1
As used in this part 2, unless the context otherwise requires:2
(8) "Sales or use tax" includes the:3
(e) Prepaid telephone disability access charge imposed pursuant4
to section 40-17-104; and5
(f) Prepaid wireless 988 charge imposed pursuant to section6
27-64-103 (4)(b); AND7
(g) M UNICIPAL LODGING TAX IMPOSED PURSUANT TO SECTION8
31-20-101.9.9
SECTION 2. In Colorado Revised Statutes, 29-2-202, amend10
(1)(b)(V) and (1)(b)(VI); and add (1)(b)(VII) as follows:11
29-2-202. Applicability.12
(1) Except as provided in sections 29-2-209 and 29-2-211, this13
part 2 applies to:14
(b) (V) The prepaid telephone disability access charge imposed15
pursuant to section 40-17-104; and16
(VI) The prepaid wireless 988 charge imposed pursuant to section17
27-64-103 (4)(b); AND18
(VII) T HE MUNICIPAL LODGING TAX IMPOSED PURS UANT TO19
SECTION 31-20-101.9.20
SECTION 3. In Colorado Revised Statutes, add 31-20-101.9 as21
follows:22
31-20-101.9. Lodging tax. 23
(1) S UBJECT TO THE REQUIREMENTS OF THIS SECTION , THE24
GOVERNING BODY OF A MUNICIPALITY MAY LEVY A MUNICIPAL LODGING25
TAX OF NOT MORE THAN SIX PERCENT ON THE PURCHASE PRICE PAID OR26
CHARGED TO PERSONS FOR ROOMS OR ACCOMMODATIONS AS INCLUDED IN27
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THE DEFINITION OF "SALE" IN SECTION 39-26-102 (11).1
(2) A GOVERNING BOARD OF A MUNICIPALITY MAY ONLY LEVY THE2
TAX SPECIFIED IN SUBSECTION (1) OF THIS SECTION FOR ONE OR MORE OF3
THE PURPOSES OF:4
(a) ADVERTISING AND MARKETING FOR LOCAL TOURISM;5
(b) H OUSING AND CHILDCARE FOR THE TOURISM -RELATED6
WORKFORCE, INCLUDING SEASONAL WORKERS, AND OTHER WORKERS IN7
THE COMMUNITY;8
(c) FACILITATING AND ENHANCING VISITOR EXPERIENCES;9
(d) PUBLIC INFRASTRUCTURE MAINTENANCE OR IMPROVEMENTS;10
OR11
(e) PUBLIC SAFETY MEASURE IMPROVEMENTS, BY FUNDING LOCAL12
LAW ENFORCEMENT , FIRE PROTECTION SERVICES , AND EMERGENCY13
MEDICAL SERVICES.14
(3) (a) T HE DEPARTMENT OF REVENUE SHALL COLLECT ,15
ADMINISTER, AND ENFORCE THE MUNICIPAL LODGING TAX ALLOWED BY16
THIS SECTION, AS SPECIFIED IN PART 2 OF ARTICLE 2 OF TITLE 29.17
(b) T HE DEPARTMENT OF REVENUE SHALL PERFORM , ON AN18
ANNUAL BASIS, A COST ANALYSIS TO DETERMINE THE NET INCREMENTAL19
COST OF COLLECTING, ADMINISTERING, AND ENFORCING THE MUNICIPAL20
LODGING TAX ALLOWED BY THIS SECTION. THE DEPARTMENT OF REVENUE21
SHALL RETAIN ONLY THE LESSER OF THE INCREMENTAL COST DETERMINED22
BY THE COST ANALYSIS OR THREE AND ONE -THIRD PERCENT OF THE23
AMOUNT COLLECTED. THE DEPARTMENT SHALL TRANSMIT THE AMOUNT24
IT RETAINS PURSUANT TO THIS SUBSECTION (3)(b) TO THE STATE25
TREASURER, WHO SHALL CREDIT THAT AMOUNT TO THE GENERAL FUND ,26
AND THAT AMOUNT IS SUBJECT TO APPROPRIATION BY THE GENERAL27
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ASSEMBLY FOR THE NET INCREMENTAL COST OF THE DEPARTMENT 'S1
COLLECTION, ADMINISTRATION, AND ENFORCEMENT OF THE MUNICIPAL2
LODGING TAX ALLOWED BY THIS SECTION.3
(c) A NY PERSON PROVIDING ROOMS OR ACCOMMODATIONS AS4
INCLUDED IN THE DEFINITION OF "SALE" IN SECTION 39-26-102 (11) IS5
LIABLE AND RESPONSIBLE FOR THE PAYMENT OF AN AMOUNT EQUIVALENT6
TO A PERCENTAGE RATE OF UP TO SIX PERCENT OF ALL SUCH SALES MADE7
AND SHALL MAKE A RETURN TO THE EXECUTIVE DIRECTOR OF THE8
DEPARTMENT OF REVENUE AS SPECIFIED IN PART 2 OF ARTICLE 2 OF TITLE9
29.10
(4) (a) T HE GOVERNING BOARD OF THE MUNICIPALITY MAY , BY11
ORDINANCE OR RESOLUTION, APPROVE A PROPOSAL TO LEVY A MUNICIPAL12
LODGING TAX. THE COUNTY CLERK SHALL REFER THE RESOLUTION TO THE13
REGISTERED ELECTORS OF THE MUNICIPALITY AT A REGULAR OR SPECIAL14
ELECTION IN ACCORDANCE WITH ARTICLE 10 OF THIS TITLE 31 AND15
SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION.16
(b) A PROPOSAL FOR A MUNICIPAL LODGING TAX MUST CONTAIN A17
DESCRIPTION OF THE PROPOSED TAX, INCLUDING THE TAX RATE AND THE18
PURPOSE OR PURPOSES FOR WHICH THE TAX REVENUE WILL BE USED IN19
ACCORDANCE WITH SUBSECTION (2) OF THIS SECTION.20
(c) (I) IF A MAJORITY OF THE REGISTERED ELECTORS VOTING ON21
THE PROPOSAL APPROVE THE MUNICIPAL LODGING TAX , THE MUNICIPAL22
LODGING TAX BECOMES EFFECTIVE AS PROVIDED IN PART 2 OF ARTICLE 223
OF TITLE 29 AND ALL OTHER APPLICABLE LAWS.24
(II) IF A MAJORITY OF THE REGISTERED ELECTORS VOTING ON THE25
PROPOSAL FAIL TO APPROVE THE MUNICIPAL LODGING TAX, THE COUNTY26
CLERK MUST NOT SUBMIT THE BALLOT QUESTION TO THE SAME ELECTORS27
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AGAIN FOR A PERIOD OF ONE YEAR FROM THE DATE OF THE ELECTION.1
(5) (a) ALL REVENUE COLLECTED FROM A MUNICIPAL LODGING TAX2
THAT IS APPROVED PURSUANT TO THIS SECTION , EXCEPT THE AMOUNT3
RETAINED PURSUANT TO SUBSECTION (3)(b) OF THIS SECTION , MUST BE4
CREDITED TO A SPECIAL FUND DESIGNATED AS THE MUNICIPAL LODGING5
TAX FUND , WHICH IS CREATED IN THE GENERAL FUND OF THE6
MUNICIPALITY. THE MONEY IN THE FUND MUST BE USED ONLY FOR THE7
PURPOSES APPROVED BY VOTERS AS SET FORTH IN THE PROPOSAL8
DESCRIBED IN SUBSECTION (4)(b) OF THIS SECTION.9
(b) U PON THE APPROVAL BY THE ELECTORS OF A MUNICIPAL10
LODGING TAX PURSUANT TO THIS SECTION FOR THE PURPOSE OF11
ADVERTISING AND MARKETING LOCAL TOURISM, THE GOVERNING BODY OF12
THE MUNICIPALITY SHALL SELECT A PANEL OF NO LESS THAN THREE13
MEMBERS TO ADMINISTER THE MUNICIPAL LODGING TAX FUND ; EXCEPT14
THAT, IF THE MONEY IN THE FUND MAY ALSO BE USED FOR ANY OTHER15
PURPOSE, THE PANEL SHALL ONLY ADMINISTER THE PORTION OF THE FUND16
THAT THE GOVERNING BODY OF THE MUNICIPALITY IDENTIFIES AS BEING17
AVAILABLE FOR ADVERTISING AND MARKETING LOCAL TOURISM . THE18
GOVERNING BODY OF THE MUNICIPALITY SHALL APPOINT PANEL MEMBERS19
FROM THE TOURISM INDUSTRY WITHIN THE MUNICIPALITY. WHERE THERE20
IS AN ESTABLISHED AND PROVEN MARKETING ENTITY WITHIN THE21
MUNICIPALITY FORMED FOR THE PURPOSE OF ADVERTISING AND22
MARKETING TOURISM , THE PANEL IS ENCOURAGED TO USE THAT23
MARKETING ENTITY FOR ADVERTISING AND MARKETING TOURISM, AND, IF24
THE PANEL USES THAT MARKETING ENTITY , THAT MARKETING ENTITY25
SHALL PROVIDE AN ACCOUNTING TO THE PANEL AND TO THE GOVERNING26
BODY OF THE MUNICIPALITY.27
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(6) ON AND AFTER JANUARY 1, 2027, A MUNICIPALITY SHALL NOT1
LEVY, COLLECT, OR ENFORCE ANY TAX ON LODGING OR THE BUSINESS OF2
PROVIDING LODGING UNLESS THE TAX IS EXPRESSLY AUTHORIZED AND3
ADOPTED PURSUANT TO THIS SECTION.4
(7) (a) N OTWITHSTANDING SUBSECTION (6) OF THIS SECTION , A5
TAX ON LODGING OR THE BUSINESS OF PROVIDING LODGING IMPOSED BY6
THE MUNICIPALITY ON OR BEFORE DECEMBER 31, 2026, INCLUDING AN7
OCCUPATION TAX LEVIED PURSUANT TO SECTION 31-15-501, MAY8
CONTINUE IN EFFECT ACCORDING TO ITS ORIGINAL TERMS.9
(b) A MUNICIPALITY THAT CONTINUES TO IMPOSE A TAX ALLOWED10
PURSUANT TO SUBSECTION (7)(a) OF THIS SECTION MAY NOT INCREASE THE11
TAX RATE, EXPAND THE TAX BASE, OR MATERIALLY ALTER THE PERMITTED12
USES OF THE TAX REVENUE , EXCEPT BY ADOPTION OF A MUNICIPAL13
LODGING TAX IN ACCORDANCE WITH THE REQUIREMENTS OF THIS SECTION.14
SECTION 4. In Colorado Revised Statutes, 39-1-103, add (12.5)15
as follows:16
39-1-103. Actual value determined - when - legislative17
declaration - definition.18
(12.5) (a) N OTWITHSTANDING ANY PROVISION OF LAW TO THE19
CONTRARY, IN ANY CASE IN WHICH AN ASSESSOR USES THE INCOME20
APPROACH TO DETERMINE THE ACTUAL VALUE OF ANY LODGING21
PROPERTY, THE ASSESSOR SHALL INCLUDE , IN ADDITION TO ANY OTHER22
INCOME GENERATED BY THE PROPERTY, THE FOLLOWING IN DETERMINING23
THE ACTUAL VALUE OF THE LODGING PROPERTY:24
(I) "N ET RENTAL INCOME " CAPITALIZED TO VALUE AT A RATE25
TYPICAL WITHIN THE RELEVANT MARKET; AND26
(II) "R ESORT FEE INCOME " CAPITALIZED TO VALUE AT A RATE27
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TYPICAL WITHIN THE RELEVANT MARKET.1
(b) A S USED IN THIS SUBSECTION (12.5), UNLESS THE CONTEXT2
OTHERWISE REQUIRES:3
(I) "NET RENTAL INCOME" MEANS THE NET OPERATING INCOME4
GENERATED FROM PAYMENTS MADE IN CONNECTION WITH THE RENTAL OF5
THE LODGING PROPERTY, INCLUDING ANY UNIT WITHIN OR CONNECTED TO6
THE LODGING PROPERTY WHETHER OR NOT THE UNIT IS INDIVIDUALLY AND7
SEPARATELY OWNED , AFTER DEDUCTION OF EXPENSES TYPICAL IN THE8
RELEVANT MARKET AND EXCLUDE ANY RENTAL PAYMENTS REMITTED TO9
A UNIT OWNER FOR USE OF THE OWNER'S UNIT.10
(II) "RESORT FEE INCOME" MEANS THE NET INCOME GENERATED11
FROM THE COLLECTION OF ANY FEE OR CHARGE, HOWEVER DENOMINATED,12
BY THE PROPERTY , THAT IS RETAINED BY THE PROPERTY BUT DOES NOT13
INCLUDE ANY FEE OR CHARGE AMOUNTS THAT THE PROPERTY OWNER14
REMITS TO ANY COUNTY, CITY, CITY AND COUNTY, SPECIAL DISTRICT, OR15
OTHER LOCAL GOVERNMENT.16
SECTION 5. In Colorado Revised Statutes, 39-1-104.2, amend17
(3)(s)(I) introductory portion, (3)(s)(I)(B), (3)(s)(I)(B.5), (3)(s)(I)(C), and18
(3)(s)(I)(D) as follows:19
39-1-104.2. Residential real property - valuation for20
assessment - legislative declaration - definitions.21
(3) (s) (I) For property tax years commencing on or after January22
1, 2025, but before January 1, 2027, the valuation for assessment for23
qualified-senior primary residence real property, including multifamily24
qualified-senior primary residence real property, is:25
(B) For the property tax year commencing on January 1, 2026,26
AND EACH PROPERTY TAX YEAR THEREAFTER , if the state board of27
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equalization determines that the statewide actual value growth is less than1
or equal to five percent, for the purpose of a levy imposed by a local2
governmental entity, 6.8 percent of the amount equal to the actual value3
of the property minus either fifty percent of the first two hundred4
thousand dollars of that actual value plus the lesser of ten percent of the5
actual value of the property or seventy thousand dollars as increased for6
inflation in the first year of each subsequent reassessment cycle or the7
amount that causes the valuation for assessment of the property to be one8
thousand dollars;9
(B.5) For the property tax year commencing on January 1, 2026,10
AND EACH PROPERTY TAX YEAR THEREAFTER , if the state board of11
equalization determines that the statewide actual value growth is greater12
than five percent, for the purpose of a levy imposed by a local13
governmental entity, 6.7 percent of the amount equal to the actual value14
of the property minus either fifty percent of the first two hundred15
thousand dollars of that actual value plus the lesser of ten percent of the16
actual value of the property or seventy thousand dollars as increased for17
inflation in the first year of each subsequent reassessment cycle or the18
amount that causes the valuation for assessment of the property to be one19
thousand dollars;20
(C) For the property tax years commencing on January 1, 2025,21
and January 1, 2026, AND EACH PROPERTY TAX YEAR THEREAFTER, if the22
state board of equalization determines that the statewide actual value23
growth is less than or equal to five percent, for the purpose of a levy24
imposed by a school district, 7.05 percent of the amount equal to the25
actual value of the property minus the lesser of fifty percent of the first26
two hundred thousand dollars of that actual value or the amount that27
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causes the valuation for assessment of the property to be one thousand1
dollars; except that the valuation for assessment for the purpose of a levy2
imposed by a school district may be temporarily reduced for a property3
tax year as set forth in section 29-1-1702.5; and4
(D) For the property tax years commencing on January 1, 2025,5
and January 1, 2026, AND EACH PROPERTY TAX YEAR THEREAFTER, if the6
state board of equalization determines that the statewide actual value7
growth is greater than five percent, for the purpose of a levy imposed by8
a school district, 6.95 percent of the amount equal to the actual value of9
the property minus the lesser of fifty percent of the first two hundred10
thousand dollars of that actual value or the amount that causes the11
valuation for assessment of the property to be one thousand dollars;12
except that the valuation for assessment for the purpose of a levy imposed13
by a school district may be temporarily reduced for a property tax year as14
set forth in section 29-1-1702.5.15
SECTION 6. In Colorado Revised Statutes, 39-1-104.6, amend16
(9)(a) introductory portion, (9)(c)(I)(A), and (9)(d) as follows:17
39-1-104.6. Qualified-senior primary residence real property18
- valuation for assessment - reimbursement to local governments for19
reduced valuation - temporary mechanism for refunding excess state20
revenues - legislative declaration - definitions.21
(9) Reporting and reimbursement of property tax revenue22
reductions.23
(a) No later than March 1, 2026, and no later than March 1 2027,24
OF EACH YEAR THEREAFTER , each treasurer shall forward to the25
administrator a report on the properties in the assessor's county that were26
classified as qualified-senior primary residence real property for the27
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previous property tax year. The administrator shall cross-check the report1
as specified in subsection (9)(b) of this section before correcting it, if2
necessary, and forwarding it to the state treasurer to enable the state3
treasurer to issue a reimbursement warrant to each treasurer in accordance4
with subsection (9)(c) of this section. The report must include:5
(c) (I) (A) No later than April 15, 2026, and no later than April 156
2027, OF EACH YEAR THEREAFTER, the state treasurer shall issue a warrant7
to each treasurer for the amount needed to fully reimburse all local8
governmental entities within the treasurer's county for the total property9
tax revenue lost for the prior property tax year that are payable during the10
year in which the state treasurer issues the warrant. The reimbursement11
must be paid from the state general fund and is not subject to the statutory12
limitation on state general fund appropriations set forth in section13
24-75-201.1.14
(d) In accordance with subsection (9)(b) of this section, for any15
property tax year commencing on or after January 1, 2025, but before16
January 1, 2027, the state treasurer shall not reimburse a treasurer for total17
property tax revenue lost as a result of a classification of real property as18
qualified-senior primary residence real property that was erroneously19
granted in the treasurer's county. If, pursuant to subsection (9)(b) of this20
section, the administrator advises the state treasurer that the state treasurer21
has provided either too much or too little reimbursement to a treasurer for22
classifications of real property as qualified-senior primary residence real23
property granted in the treasurer's county for any prior property tax year24
commencing on or after January 1, 2025, but before January 1, 2027, the25
state treasurer shall adjust the reimbursement for the current property tax26
year as directed by the administrator in order to correct the error.27
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SECTION 7. In Colorado Revised Statutes, 39-3-119.5, amend1
(2)(a)(VII), (2)(a)(VIII), (2)(b)(I)(A), (3)(a)(I), (3)(a)(II), (3)(b), (3)(c)(I),2
(3)(c)(II), (3)(d), (3)(e), and (3)(f); and add (2)(a)(IX) as follows:3
39-3-119.5. Personal property - exemption - reimbursement to4
local governments - legislative declaration - definitions.5
(2) (a) The exemption created in subsection (1) of this section6
shall be up to and including the following amounts:7
(VII) Seven thousand seven hundred dollars for property tax years8
commencing on January 1, 2019, and January 1, 2020; and9
(VIII) Fifty thousand dollars for property tax years commencing10
on January 1, 2021, and January 1, 2022; AND11
(IX) S IXTY THOUSAND DOLLARS FOR PROPERTY TAX YEARS12
COMMENCING ON OR AFTER JANUARY 1, 2027.13
(b) (I) (A) Beginning with the property tax year commencing on14
January 1, 2023, BUT BEFORE JANUARY 1, 2027, the amount of the15
exemption created in subsection (1) of this section shall be adjusted16
biennially to account for inflation since the amount of the exemption last17
changed pursuant to this subsection (2). On or before November 1, 2022,18
and each even-numbered year thereafter BUT BEFORE 2027, the19
administrator shall calculate the amount of the exemption for the next20
two-year cycle using inflation for the prior two calendar years as of the21
date of the calculation. The adjusted exemption shall be rounded upward22
to the nearest one hundred dollar increment. The administrator shall23
certify the amount of the exemption for the next two-year cycle and24
publish the amount on the website maintained by the division of property25
taxation in the department of local affairs.26
(3) (a) (I) For the EACH property tax year commencing on OR27
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AFTER January 1, 2021, BUT BEFORE JANUARY 1, 2027, each assessor shall1
calculate the aggregate value of exempt business personal property within2
the county based on the property that is listed on schedules for the3
property tax year with a total value that is more than seven thousand nine4
hundred dollars and less than or equal to fifty thousand dollars.5
(II) For the EACH property tax year commencing on OR AFTER6
January 1, 2021, BUT BEFORE JANUARY 1, 2027, each treasurer shall7
calculate the total property tax revenues lost by all local governmental8
entities within the treasurer's county based on the exempt business9
personal property amount calculated in accordance with subsection10
(3)(a)(I) of this section.11
(b) No later than February 1, 2022, and each February 1 thereafter12
THROUGH FEBRUARY 1, 2026, the administrator shall calculate the13
percentage increase or decrease in total valuation of business personal14
property in the state over the prior two property tax years. The15
administrator shall publish the percentage increase or decrease on the16
website maintained by the division of property taxation in the department17
of local affairs.18
(c) (I) For the property tax years commencing on January 1, 2022,19
and each year thereafter BUT BEFORE JANUARY 1, 2027, each assessor20
shall calculate an estimate of the aggregate value of exempt business21
personal property for the county and each local governmental entity22
located within the county that is equal to the applicable baseline23
exemption total adjusted by the growth factor for each property tax year24
commencing on and after January 1, 2022.25
(II) For the property tax years commencing on January 1, 2022,26
and each year thereafter BUT BEFORE JANUARY 1, 2027, each treasurer27
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shall calculate the total property tax revenues lost by all local1
governmental entities within the treasurer's county based on the estimate2
of exempt business personal property amount calculated in accordance3
with subsection (3)(c)(I) of this section.4
(d) No later than March 1, 2022, a nd each March 1 thereafter5
THROUGH MARCH 1, 2026, each treasurer shall report the amount6
specified in subsection (3)(a)(II) or (3)(c)(II) of this section, as7
applicable, and the basis for the amount to the administrator, and the8
administrator may require a treasurer to provide additional information as9
necessary to evaluate the amount reported. The administrator shall10
confirm that the reported amount is correct or rectify the amount, if11
necessary. The administrator shall then forward the correct amount for12
each county to the state treasurer to enable the state treasurer to issue a13
reimbursement warrant to each treasurer in accordance with subsection14
(3)(e) of this section.15
(e) No later than April 15, 2022, and April 15 of each year16
thereafter THROUGH APRIL 15, 2026, the state treasurer shall issue a17
warrant to be paid upon demand from the general fund to each treasurer18
that is equal to the amount specified by the administrator for the county19
under subsection (3)(d) of this section. Each treasurer shall distribute the20
total amount received from the state treasurer to the local governmental21
entities within the treasurer's county as if the revenues had been regularly22
paid as property tax. When distributing the money, the treasurer shall23
provide each local governmental entity with a statement of the amount24
distributed to the local governmental entity that represents the25
reimbursement received under this subsection (3)(e).26
(f) No later than May 1, 2022, and May 1 of each year thereafter27
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THROUGH MAY 1, 2026, the state treasurer shall notify the administrator1
whether all counties have received a reimbursement warrant for lost2
property tax revenue for the amounts specified in subsection (3)(d) of this3
section.4
SECTION 8. In Colorado Revised Statutes, 39-21-102, add (10)5
as follows:6
39-21-102. Scope.7
(10) THE PROVISIONS OF THIS ARTICLE 21 APPLY TO THE TAXES8
IMPOSED PURSUANT TO SECTION 31-20-101.9, BUT ONLY TO THE EXTENT9
THAT THE PROVISIONS OF THIS ARTICLE 21 ARE NOT INCONSISTENT WITH10
THE PROVISIONS OF SECTION 31-20-101.9.11
SECTION 9. In Colorado Revised Statutes, 39-21-119.5, add12
(2)(q.5) as follows:13
39-21-119.5. Mandatory electronic filing of returns -14
mandatory electronic payment - penalty - waiver - definitions.15
(2) Except as provided in subsection (6) of this section, the16
executive director may, as specified in subsection (3) of this section,17
require the electronic filing of returns and require the payment of any tax18
or fee due by electronic funds transfer for the following:19
(q.5) A NY MUNICIPAL LODGING TAX RETURN REQUIRED TO BE20
FILED AND PAYMENT REQUIRED TO BE MADE PURSUANT TO SECTION21
31-20-101.9;22
SECTION 10. Act subject to petition - effective date. This act23
takes effect at 12:01 a.m. on the day following the expiration of the24
ninety-day period after final adjournment of the general assembly (August25
12, 2026, if adjournment sine die is on May 13, 2026); except that, if a26
referendum petition is filed pursuant to section 1 (3) of article V of the27
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state constitution against this act or an item, section, or pa rt of this act1
within such period, then the act, item, section, or part will not take effect2
unless approved by the people at the general election to be held in3
November 2026 a nd, in such cas e, will take effect on the date of the4
official declaration of the vote thereon by the governor.5
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