NOTE: The governor signed this measure on 6/4/2015.
      
      
      SENATE BILL 15-206
      
      
      BY SENATOR(S) Roberts and Hodge, Cooke, Crowder, Donovan,
      Guzman, Kefalas, Merrifield;
      also REPRESENTATIVE(S) Garnett and Keyser, Danielson, Fields, Ginal,
      Hamner, Lawrence, Mitsch Bush, Priola, Rosenthal, Ryden, Vigil,
      Williams, Winter, Hullinghorst.
      
      
      Concerning phased conservation easement donations for
           conservation easements donated on or after January 1,
           2015, and, in connection therewith, lowering transaction
           costs for agricultural producers, facilitating endangered
           species mitigation, and making an appropriation.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 39-22-522, amend (4)
      (a) (II); and add (4) (a) (II.5) as follows:
      
           39-22-522.  Credit against tax - conservation easements.
      (4) (a) (II)  For a conservation easement in gross created in accordance with
      article 30.5 of title 38, C.R.S., that is donated on or after January 1, 2007,
      and prior to January 1, 2015, to a governmental entity or a charitable
      organization described in section 38-30.5-104 (2), C.R.S., the credit
      provided for in subsection (2) of this section shall be an amount equal to
      fifty percent of the fair market value of the donated portion of such
      conservation easement in gross when created; except that in no case shall
      the credit exceed three hundred seventy-five thousand dollars per donation.
      
           (II.5)  For a conservation easement in gross created in
      accordance with article 30.5 of title 38, C.R.S., that is donated on
      or after January 1, 2015, to a governmental entity or a
      charitable organization described in section 38-30.5-104 (2),
      C.R.S., the credit provided for in subsection (2) of this section
      shall be an amount equal to seventy-five percent of the first one
      hundred thousand dollars of the fair market value of the
      donated portion of such conservation easement in gross when
      created, and fifty percent of all amounts of the donation in
      excess of one hundred thousand dollars; except that, in no case
      shall the credit exceed one million five hundred thousand
      dollars per donation.
      
           SECTION 2.  Appropriation. For the 2015-16 state fiscal year,
      $5,300 is appropriated to the department of revenue. This appropriation is
      from the general fund. To implement this act, the department may use this
      appropriation for CITA annual maintenance and support.
      
           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.
      
      
      
      
      ____________________________  ____________________________
      Bill L. Cadman                Dickey Lee Hullinghorst
      PRESIDENT OF                     SPEAKER OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
      
      
      ____________________________  ____________________________
      Cindi L. Markwell                      Marilyn Eddins
      SECRETARY OF                 CHIEF CLERK OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO