NOTE: The governor signed this measure on 6/6/2016.
      
      
      HOUSE BILL 16-1465
      
      
      BY REPRESENTATIVE(S) Duran and Becker J., Tyler, Pabon, Arndt,
      Becker K., Ginal, Kraft-Tharp, McCann, Mitsch Bush, Moreno, Rosenthal,
      Ryden, Williams, Winter, Brown, Conti, Landgraf, Lawrence, Priola,
      Rankin, Roupe, Thurlow, Wilson, Esgar, Fields, Garnett, Hamner, Kagan,
      Lebsock, Lee, Lontine, Melton, Pettersen, Salazar, Singer, Vigil, Windholz,
      Young, Hullinghorst;
      also SENATOR(S) Ulibarri and Cooke, Aguilar, Carroll, Crowder,
      Donovan, Garcia, Guzman, Heath, Hodge, Johnston, Jones, Kefalas, Kerr,
      Martinez Humenik, Merrifield, Newell, Roberts, Steadman, Todd.
      
      
      Concerning modifications to the Colorado low-income housing
           tax credit, and, in connection therewith, extending the
           period during which the Colorado housing and finance
           authority may allocate low-income housing tax credits.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 39-22-2102, amend
      (2) (d), (7) introductory portion, and (7) (a) as follows:
      
           39-22-2102.  Credit against tax - low-income housing
      developments. (2)  The authority may allocate a credit to an owner of a
      qualified development by issuing to the owner an allocation certificate. The
      authority may determine the time at which such allocation certificate is
      issued. The credit shall be in an amount determined by the authority,
      subject to the following guidelines:
      
           (d)  The aggregate sum of credits allocated annually shall not exceed
      the limits set forth in subsection (7) of this section, except for a qualified
      development that is located in a county that is designated by the qualified
      allocation plan as having been impacted by a natural disaster credits
      allocated in 2015 and 2016 for qualified developments that are
      located in a county that is designated by the qualified
      allocation plan as having been impacted by a natural disaster.
      
           (7)  During each calendar year of the two-year five-year period
      beginning January 1, 2015, and ending December 31, 2016 December 31,
      2019, the authority may allocate a credit, the full amount of which may be
      claimed against the taxes imposed by this article for each taxable year of
      the six-year credit period. The aggregate amount of all credits allocated by
      the authority in each calendar year of the two-year five-year period
      beginning January 1, 2015, and ending December 31, 2016 December 31,
      2019, shall not exceed the amount of:
      
           (a)  Five million dollars for credits allocated pursuant to subsection
      (1) of this section and section 39-22-2105 combined, except for an
      allocation made to a qualified development that is located in a county that
      is designated by the qualified allocation plan as having been impacted by
      a natural disaster credits allocated in 2015 and 2016 for qualified
      developments that are located in a county that is designated by
      the qualified allocation plan as having been impacted by a
      natural disaster.
      
           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.
      
      
      
      
      ________________________________________________________
      Dickey Lee Hullinghorst                Bill L. Cadman
      SPEAKER OF THE HOUSE                     PRESIDENT OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
      
      
      ____________________________  ____________________________
      Marilyn Eddins                            Effie Ameen
      CHIEF CLERK OF THE HOUSE                 SECRETARY OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO