Summary of HB08-1369
Short Title: Incentives For Donation Of Water Rights

Sponsors: Pommer/Gibbs

For income tax years commencing on or after January 1, 2008, 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. Defines terms.

Status
03/18/2008 Introduced In House - Assigned to Finance
03/18/2008 Introduced In House - Assigned to Finance + Appropriations
04/02/2008 House Committee on Finance Refer Amended to Appropriations
04/11/2008 House Committee on Appropriations Pass Unamended to House Committee of the Whole
04/11/2008 House Second Reading Special Order - Passed with Amendments
04/14/2008 House Third Reading Passed
04/16/2008 Introduced In Senate - Assigned to State, Veterans & Military Affairs

Amendments

Fiscal Notes Status

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