Colorado

HB 1123 – Conservation Easement Tax Credit Time Out

Sponsored by: Rep. Kimmi Lewis (and Sen. Jerry Sonnenberg and Sen. Vicki Marble in the Senate)
One of three bills "aimed at restricting the use of conservation easements to preserve vital lands in Colorado."

Short Summary

The bill calls for a moratorium of 3 years on income tax credits allowed on conservation easements while an accounting of the easements is conducted.

General Description

“CONCERNING MEASURES TO ENFORCE A REDUCTION IN THE ABUSE OF CONSERVATION EASEMENTS IN THE STATE, AND, IN CONNECTION THEREWITH, PLACING A TEMPORARY MORATORIUM ON THE ABILITY OF A TAXPAYER TO CLAIM A STATE INCOME TAX CREDIT FOR THE DONATION OF AN EASEMENT.” [HB 1123, Colorado General Assembly]

Bill Sponsor(s)

Rep. Kimmi Lewis; Sen. Jerry Sonnenberg

Detailed Bill Summary 

This is a bill to place “a 3-year moratorium on the ability of a taxpayer to claim the credit from January 1, 2019, through December 31, 2021.” [HB 1123, Colorado General Assembly]

Current Status

  • 03/15/18 – Postponed Indefinitely in House Committee on Health, Insurance & Environment. [Bill History for HB 1123, Colorado General Assembly]

Relevant Comments by Public Officials, Public Lands Groups, or Special Interest Groups in Colorado

 

  • The Summit County, Colorado Board of County Commissioners described this bill, along with HB 1122 and HB 1194, as being “aimed at restricting the use of conservation easements to preserve vital lands in Colorado.” [Work Session Meeting Minutes, Summit County Colorado, 03/13/18]

 

Next Issue

HB 1194 - Conservation Easement Transparency