NOTE: The governor signed this measure on 5/30/2014.
      
      
      HOUSE BILL 14-1222
      
      
      BY REPRESENTATIVE(S) McLachlan, Becker, Exum, Fields, Foote,
      Ginal, Hamner, Hullinghorst, Kraft-Tharp, Labuda, Lebsock, Lee, Melton,
      Mitsch Bush, Pabon, Pettersen, Rosenthal, Salazar, Schafer, Singer, Vigil,
      Young;
      also SENATOR(S) Schwartz and Roberts, Aguilar, Guzman, Heath,
      Johnston, Jones, Kefalas, Kerr, Newell, Nicholson, Ulibarri, Carroll.
      
      
      Concerning modification of the terms under which a county may
           issue tax-exempt private activity bonds on behalf of an
           eligible applicant for the purpose of financing a
           geothermal energy project on the applicant's property.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 30-20-1203, amend
      (1) and (2) (c) as follows:
      
           30-20-1203.  Eligible clean energy project financing - county
      approval - private activity bond financing. (1)  An eligible applicant may
      apply to the board of the county or city and county in which it proposes to
      construct, expand, or upgrade an eligible clean energy project for assistance
      in the financing of the project. Subject to the requirements and limitations
      specified in federal law, the "Colorado Private Activity Bond Ceiling
      Allocation Act", part 17 of article 32 of title 24, C.R.S., and subsection (2)
      of this section, if the board approves the application, it may provide
      financing assistance by issuing tax-exempt private activity bonds in a
      minimum amount of five hundred thousand dollars for a
      geothermal energy project and one million dollars for any other
      type of eligible clean energy project on behalf of the eligible
      applicant.
      
           (2)  A board shall issue tax-exempt private activity bonds on behalf
      of an eligible applicant to finance an eligible clean energy project subject
      to the following requirements and limitations:
      
           (c)  The repayment term for the bonds issued shall not exceed
      fifteen years for a geothermal energy project and ten years for
      any other type of eligible clean energy project and may, for a
      geothermal energy project only, be correlated to the revenue
      stream of the eligible clean energy project being financed by the
      bonds so long as the amount of scheduled bond payments for any
      fiscal year does not exceed seventy-five percent of the estimated
      amount of project revenues for the fiscal year.
      
           SECTION 2.  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.
      
      
      
      
      ________________________________________________________
      Mark Ferrandino                        Morgan Carroll
      SPEAKER OF THE HOUSE                     PRESIDENT OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
      
      
      ____________________________  ____________________________
      Marilyn Eddins                      Cindi L. Markwell
      CHIEF CLERK OF THE HOUSE                 SECRETARY OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO