First Regular Session
              Sixty-ninth General Assembly
                    STATE OF COLORADO
                                                 INTRODUCED
                                                           
                                                           
 LLS NO. 13-0020.02 Ed DeCecco x4216     HOUSE BILL 13-1177
                    HOUSE SPONSORSHIP
 Holbert, 
 
                   SENATE SPONSORSHIP
 Scheffel, 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 House Committees
 Senate Committees
 
 
 Finance
 
 
 
 Appropriations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning a business personal property tax exemption for
            taxpayers that do not qualify for the exemption that
            applies per personal property tax schedule.
       
       
                           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.)
       
            Currently, a taxpayer's business personal property that would be
       listed on a single personal property schedule is exempt from property tax
       if it is less than a specified amount. If the value of a taxpayer's per
       schedule personal property is greater than this exemption amount, then
       none of the taxpayer's property is exempt. For those taxpayers who do not
       currently qualify for the per schedule exemption, the bill creates a
       property tax exemption that is an amount equal to the existing per
       schedule exemption.
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  Legislative declaration. The general assembly
       hereby declares that the intended purpose of the potential tax expenditures
       included in this act is to stimulate the economy of the state of Colorado
       and to equitably treat taxpayers.
            SECTION 2.  In Colorado Revised Statutes, 39-3-119.5, amend
       (2) (a) introductory portion; and add (1.5) as follows:
            39-3-119.5.  Personal property - exemption - definitions.
       (1.5)  For a property tax year commencing on or after January
       1, 2013, an amount of personal property listed on a single
       personal property schedule that is equal to the amount set
       forth in subsection (2) of this section is exempt from the levy and
       collection of property tax.
            (2) (a)  The exemption exemptions created in subsection (1)
       subsections (1) and (1.5) of this section shall be are up to and
       including the following amounts:
            SECTION 3.  Act subject to petition - effective date. This act
       takes effect at 12:01 a.m. on the day following the expiration of the
       ninety-day period after final adjournment of the general assembly (August
       7, 2013, if adjournment sine die is on May 8, 2013); except that, if a
       referendum petition is filed pursuant to section 1 (3) of article V of the
       state constitution against this act or an item, section, or part of this act
       within such period, then the act, item, section, or part will not take effect
       unless approved by the people at the general election to be held in
       November 2014 and, in such case, will take effect on the date of the
       official declaration of the vote thereon by the governor.