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Instream Flow Tax Incentives
Our Position: support
Bill Number: HB 1067
Sponsor: Rep. Pommer/ Sen. White
Legislative Session: 2009
For income tax years commencing on or after January 1, 2009, but prior to January 1, 2015, establishes an instream flow incentive tax credit. Specifies that the Colorado water conservation board will allocate the credits by issuing credit certificates to owners of water rights who donate those water rights to the board for use as instream flow rights. Specifies the maximum value of the credit, and establishes that the value of the water rights must be determined by qualified appraisal. Limits the aggregate sum of credits allocated on an annual basis to a specified amount.
Allows the credit to be carried forward to other income tax years for a maximum of 6 years.
Establishes the transferability of the credit.
Specifies that the credit will not be allowed in a particular income tax year if the revenue estimate prepared by the staff of the legislative council indicates that the amount of the total general fund revenues will not be sufficient to maintain the limit on appropriations specified in statute.
Grants the department of revenue rule-making authority.
Status
01/07/2009 Introduced In House - Assigned to Agriculture, Livestock, & Natural Resources + Finance + Appropriations
01/20/2009 House Committee on Agriculture, Livestock, & Natural Resources Refer Amended to Finance
02/03/2009 House Committee on Finance Refer Amended to Appropriations
04/03/2009 House Committee on Appropriations Lay Over Unamended - Amendment(s) Failed
04/09/2009 House Committee on Appropriations Lay Over Unamended - Amendment(s) Failed
04/15/2009 House Committee on Appropriations Refer Amended to House Committee of the Whole
04/15/2009 House Second Reading Special Order - Passed with Amendments
04/16/2009 House Third Reading Passed
04/20/2009 Introduced In Senate - Assigned to Agriculture and Natural Resources + Appropriations
04/29/2009 Senate Committee on Agriculture and Natural Resources Refer Amended to Appropriations
04/30/2009 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole
05/01/2009 Senate Second Reading Special Order - Passed with Amendments
05/04/2009 Senate Third Reading Passed
05/05/2009 House Considered Senate Amendments - Result was to Concur - Repass
05/14/2009 Signed by the Speaker of the House
05/18/2009 Signed by the President of the Senate
05/19/2009 Sent to the Governor
More information
Please see the bill text for the exact language.
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