2017 Policy Positions
HB17 - 1063 Reduce Business Personal Property Taxes
Summary: Under current law, if a business has less than $7,300 of personal property that would be listed on a single personal property schedule, then the personal property is exempt from the property tax and the business is not required to submit a schedule to the county assessor.
Sponsor: LEONARD/CROWDER/T. NEVILLE
SB17 - 001 Alleviate Fiscal Impact State Rules Small Business
Summary: The bill enacts the 'Regulatory Relief Act of 2017'. The bill includes a legislative declaration about the importance of small businesses to the Colorado economy and acknowledges the difficulty these types of businesses have in complying with state rules that are not known or understood by these businesses.
Sponsors: T. NEVILLE/P. NEVILLE
SB17 - 009 Business Personal Property Tax Exemption
Summary: There is an exemption from property tax for business personal property that would otherwise be listed on a single personal property schedule that is equal to $7,300 for the current property tax year cycle. The bill triples the exemption to $21,900 for the next 2 property tax years and adjusts it for inflation for subsequent property tax cycles.
HB17 - 1090 Advanced Industry Investment Tax Credit Extension
Summary: A qualified investor who, prior to January 1, 2018, makes an equity investment in a qualified small business from an advanced industry is allowed an income tax credit that is equal to a percentage of the investment, up to a maximum credit of $50,000. The Colorado office of economic development (office) determines the eligibility for the tax credits and issues nontransferable tax credit certificates that are used to claim the credit. The maximum amount of tax credits allowed for a calendar year is $750,000.
Sponsors: T. KRAFT-THARP | J. WILSON / J. KEFALAS | B. GARDNER
SB17 - 156 Homeowners' Association Construction Defect Lawsuit Approval Timelines
Summary: The bill states that when the governing documents of a common interest community require mediation or arbitration of a construction defect claim and the requirement is later amended or removed, mediation or arbitration is still required for a construction defect claim. These provisions are in section 3 of the bill. Section 3 also specifies that the mediation or arbitration must take place in the judicial district in which the community is located and that the arbitrator must:
HB17-1119 Payment Of Workers' Compensation Benefits
The bill creates the 'Colorado Uninsured Employer Act' to create a new mechanism for the payment of covered claims to workers who are injured while employed by employers who do not carry workers' compensation insurance. The bill creates the Colorado uninsured employer fund, which consists of penalties from employers who do not carry workers' compensation insurance.
Sponsors: T. KRAFT - THARP| L. SIAS / J. TATE | C. JAHN
HB17-1187 Change Excess State Revenues Cap Growth Factor
In 2005, voters approved Referendum C, which is a voter-approved revenue change to the TABOR fiscal year spending limit. Under the referendum, the state is permitted to retain and spend all state revenues up to the excess state revenues cap. The excess state revenues cap is adjusted annually for inflation and population changes, among other things.
Sponsors: D. THURLOW / L. CROWDER
HB17 - 1007 Tax Benefit Employer Collegeinvest Contribution
Summary: The starting point for determining state income tax liability is federal taxable income. This number is adjusted for additions and subtractions (deductions) that are used to determine Colorado taxable income, which amount is multiplied by the state's 4.63% income tax rate.
The bill allows an employer, whether filing as an individual or a corporation, to claim a deduction for any amount that the employer contributes to an employee's college trust account or savings account that is administered by collegeinvest. This deduction may be claimed even if the contribution has already been deducted from the employer's federal taxable income.
Sponsors: A. GARNETT/ B. GARDNER
SB17 - 152 Implement Changes Made by Amendment 71
Summary: The bill implements changes to the Colorado constitution approved by voters at the 2016 general election that make it more difficult to amend the state constitution by:
HB17-1021 Wage Theft Transparency Act
Current law requires employers to release requested information to the division of labor standards and statistics (division) in the department of labor and employment and allows the division to have access to employers' premises and all books, records, and payrolls of employers. Current law also prohibits the release of any of this information obtained by the division if the release of the information might reveal a trade secret. The bill clarifies that information obtained by the division that relates to a finding by the division of a violation of wage laws is not confidential and shall be released to the public or for use in a court proceeding, unless the director of the division makes a determination that the information includes specific information that is a trade secret.
Sponsor: J. DANIELSON
HB17-1169 Construction Defect Litigation Builder's Right To Repair
The bill clarifies that a construction professional has the right to receive notice from a prospective claimant concerning an alleged construction defect; to inspect the property; and then to elect to either repair the defect or tender an offer of settlement before the claimant can file a lawsuit seeking damages.
Sponsors: T. LEONARD / J. TATE
SB17-186 Reduce Regulatory Burden Rules On Businesses
The 'State Administrative Procedure Act' (APA) currently defines a small business as a business with fewer than 500 employees. The bill redefines 'small business', for purposes of the APA, to mean a business entity, including its affiliates, that:
Is independently owned and operated and employs fewer than 500 employees; or
Has gross annual sales of less than $6 million.
Sponsors: J. TATE / P. LAWRENCE | T. CARVER
HB17 -1049 Eliminate Property Tax Abatement Refund Interest
Summary: If property taxes are levied erroneously or illegally and a taxpayer has not protested the valuation within the time permitted by law, then the taxpayer has 2 years from the start of the property tax year to file a petition for abatement or refund. The board of county commissioners is required to abate the taxes, and the taxpayer is entitled to a refund for the incorrect amount and, in some circumstances, refund interest equal to 1% per month. The bill eliminates the refund interest related to a property tax abatement.
SB17 - 089 Allow Electric Utility Customers Install Energy Storage Equipment
Summary: The bill declares that consumers of electricity have a right to install and use electricity storage systems on their property, and this will enhance the reliability and efficiency of the electric grid, save money, and reduce the need for additional electric generation facilities.
SB17-157 Construction Defect Actions Notice Vote Approval
The bill requires that, before the executive board of a unit owners' association (HOA) in a common interest community brings suit against a developer or builder on behalf of unit owners, the board must:
Notify all unit owners; and
Except when the HOA contracted with the developer or builder for the work complained of or the amount in controversy is less than $100,000, obtain the approval of a majority of the unit owners after giving them detailed disclosures about the lawsuit and its potential costs and benefits.
The bill also limits the amount and type of contact that a developer or builder that is potentially subject to a lawsuit may have with individual unit owners while the HOA is seeking their approval for the lawsuit.
Sponsors: A. WILLIAMS / J. MELTON
SB17 - 003 Repeal Colorado Health Benefit Exchange
Summary: In 2010, pursuant to the enactment of federal law that allowed each state to establish a health benefit exchange option through state law or opt to participate in a national exchange, the general assembly enacted the 'Colorado Health Benefit Exchange Act' (act). The act created the state exchange, a board of directors (board) to implement the exchange, and a legislative health benefits exchange implementation review committee to make recommendations to the board. The bill repeals the act, effective January 1, 2018, and allows the exchange to continue for one year for the purpose of winding up its affairs. The bill also requires the board, on the last day of the wind-up period, to transfer any unencumbered money that remains in the exchange to the state treasurer, who shall transfer the money to the general fund.
Sponsor: SMALLWOOD/P. NEVILLE
HB17-1167 Existing Businesses In Business Improvement District
A business improvement district (district) is a type of special district created within a municipality to fund certain types of improvements that will, among other things, promote the continued vitality of existing business areas within the municipality. The law currently allows a municipality to include areas in a district that do not have any existing businesses. The bill requires these areas to have existing businesses.
Sponsors: T. LEONARD/ T. NEVILLE
For a full recap of the 2016 session, please CLICK HERE.