Colorado Legislative Council Staff
NO FISCAL IMPACT
January 23, 1999
Will Meyer (303-866-4976)
TITLE: CONCERNING THE ADDITION OF THE POWER TO GRANT CONSERVATION EASEMENTS TO THE POWERS AVAILABLE TO A FIDUCIARY UNDER THE "COLORADO FIDUCIARIES' POWERS ACT".
Summary of Assessment
This bill makes changes to the "Colorado Fiduciaries' Powers Act" giving fiduciaries the power to grant a conservation easement in gross. The bill requires that if the grant is for less than fair market value, the consent of interested persons must be obtained in writing or an order of the court after notice to interested persons, unless a will or trust instrument directs, permits, or requires a donation of a conservation easement in gross.
The provisions of this bill will allow the conservator of an estate to grant a conservation easement in gross. This may affect the amount of estate taxes paid to the federal government by Colorado residents, but will not affect the estate taxes paid to the state. The bill will not have a significant impact on any state agency, or unit of local government. Therefore, this bill is assessed as having no fiscal impact.
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