BY REPRESENTATIVES Agler, McElhany, Paschall, and Pfiffner;
also SENATOR Schroeder.
CONCERNING THE ELIMINATION OF THE CONSIDERATION OF
FEDERAL BROADCAST LICENSES BY THE PROPERTY TAX ADMINISTRATOR WHEN
DETERMINING THE ACTUAL VALUE OF A WIRELESS CARRIER FOR PROPERTY
TAX PURPOSES.
Be it enacted by the General Assembly of the State
of Colorado:
SECTION 1. 394102
(1) (b), Colorado Revised Statutes, is amended to read:
394102. Valuation of public
utilities. (1) The administrator
shall determine the actual value of the operating property and
plant of each public utility as a unit, giving consideration to
the following factors and assigning such weight to each of such
factors as in his judgment will secure a just value of such public
utility as a unit:
(b) Its intangibles, such as special privileges,
franchises, contract rights and obligations, and rightsofway;
EXCEPT THAT LICENSES GRANTED BY THE FEDERAL COMMUNICATIONS COMMISSION
TO A WIRELESS CARRIER, AS DEFINED IN SECTION 2911101
(14), C.R.S., SHALL NOT BE CONSIDERED, NOR SHALL THE VALUE OF
SUCH LICENSES BE REFLECTED, IN THE ADMINISTRATOR'S VALUATION OF
THE CARRIER'S TANGIBLE PROPERTY;
SECTION 2. 3922611,
Colorado Revised Statutes, is amended to read:
3922611. Property exempt
from ad valorem taxes. Notwithstanding
any other provisions of law, all intangible personal property,
whether or not owned by a resident of Colorado, and whether or
not such property or evidence thereof is situated or held or has
its legal situs within the state, shall be exempt from ad valorem
tax imposed by the state of Colorado, or by any political subdivision
thereof; but nothing in this section shall be construed to repeal,
or in any way affect, the use or inclusion of intangible property
OTHER THAN LICENSES GRANTED BY THE FEDERAL COMMUNICATIONS COMMISSION
TO A WIRELESS CARRIER, AS DEFINED IN SECTION 2911101
(14), C.R.S., as a factor in arriving at the valuation of public
utility property assessed by the property tax administrator under
provisions of articles 1 to 13 of this title.
SECTION 3. No
appropriation. The general assembly has determined that this
act can be implemented within existing appropriations, and therefore
no separate appropriation of state moneys is necessary to carry
out the provisions of this act.
SECTION 4. Effective
date applicability. This act shall take
effect upon passage and shall apply to tax years commencing on
or after January 1, 1998.
SECTION 5. 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.
____________________________ ____________________________
Charles E. Berry Tom Norton
SPEAKER OF THE HOUSE PRESIDENT OF
OF REPRESENTATIVES THE SENATE
____________________________ ____________________________
Judith M. Rodrigue Patricia K. Dicks
CHIEF CLERK OF THE HOUSE ASSISTANT SECRETARY OF
OF REPRESENTATIVES THE SENATE
APPROVED________________________________________
_________________________________________
Roy Romer
GOVERNOR OF THE STATE
OF COLORADO