SENATE
                       3rd Reading Unamended
       February 24, 2012      SENATE
                       2nd Reading Unamended
                     February 23, 2012Second Regular Session
              Sixty-eighth General Assembly
                    STATE OF COLORADO
                                                REENGROSSED
                       This Version Includes All Amendments
                       Adopted in the House of Introduction
 LLS NO. 12-0294.01 Bob Lackner x4350    SENATE BILL 12-087
                   SENATE SPONSORSHIP
 Foster, 
 
                    HOUSE SPONSORSHIP
 Kerr J., 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Senate Committees
 House Committees
 
 
 Local Government
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning the period marking the commencement of the
            accrual of interest on the refund of property taxes
            erroneously collected.
       
       
                           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://www.leg.state.co.us/billsummaries.)
       
            The bill applies to interest imposed on property taxes illegally or
       erroneously levied and collected. Under current law, interest on such
       refunded moneys accrues only from the date payment of taxes and
       delinquent interest on such payment was received by the county treasurer
       from the taxpayer except as provided in specified circumstances. Under
       the bill, interest on the refunded moneys accrues from the later of the date
       a complete abatement petition is filed with the board of county
       commissioners or the date the taxes are paid.
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  In Colorado Revised Statutes, 39-10-114, amend
       (1) (b) as follows:
            39-10-114.  Abatement - cancellation of taxes. (1) (b)  Any taxes
       illegally or erroneously levied and collected, and delinquent interest
       thereon, shall be refunded pursuant to this section, together with refund
       interest at the same rate as that provided for delinquent interest set forth
       in section 39-10-104.5; except that refund interest shall not be paid if the
       taxes were erroneously levied and collected as a result of an error made
       by the taxpayer in completing personal property schedules pursuant to the
       provisions of article 5 of this title. Said refund interest shall accrue only
       from the date payment of taxes and delinquent interest thereon was
       received by the treasurer from the taxpayer; except that refund interest
       shall accrue accrues from the later of the date a complete abatement
       petition is filed if the taxes were erroneously levied and collected as a
       result of an error or omission made by the taxpayer in completing the
       statements required pursuant to the provisions of article 7 of this title and
       the county pays the abatement or refund within the time frame set forth
       in sub-subparagraph (B) of subparagraph (I) of paragraph (a) of this
       subsection (1) with the board of county commissioners or the date
       the taxes are paid. Refund interest on abatements or refunds made
       pursuant to sub-subparagraph (F) of subparagraph (I) of paragraph (a) of
       this subsection (1) shall only accrue accrues on taxes paid for the two
       latest years of illegal or erroneous assessment.
            SECTION 2.  Applicability. The provisions of this act apply to
       interest accruing on property taxes that are illegally or erroneously levied
       and collected on or after the applicable effective date of this act.
            SECTION 3.  Safety clause. The general assembly hereby finds,
       determines, and declares that this act is necessary for the immediate
       preservation of the public peace, health, and safety.