§ 29-4-227 — Tax exemptions

(1) (a) Except for the administrative fees
collectible in connection with the inclusion of property within the boundaries of the
Colorado new energy improvement district as authorized by section 29-4-226 (2),
an authority is exempt from the payment of any taxes or fees to the state or any
county, city and county, municipality, or other political subdivision of the state. All
property of an authority is exempt from all local and municipal taxes. Bonds, notes,
debentures, and other evidences of indebtedness of an authority are declared to be
issued for a public purpose and to be public instruments, and, together with interest
thereon, are exempt from taxes. All property leased to an authority for the
purposes of a project is also exempt from taxation, as is the income derived from
the authority by the lessor under the lease.

(b) A project that is owned by, leased to, or under construction by an entity
that is wholly owned by an authority, an entity in which an authority has an
ownership interest, or an entity in which an entity wholly owned by an authority or
of which an authority is the sole member has an ownership interest is exempt from
both property tax and, during construction, from the payment of sales tax and use
tax to the state or any county, city and county, municipality, or other political
subdivision of the state in proportion to the percentage of the project that is for
occupancy by persons of low income. The determination by an authority of the
percentage of the project that qualifies for the exemptions from payment of
property taxes and sales and use taxes may be made on the basis of either the
relative square footage or cost and is presumed valid absent manifest error.

(2) This section, as amended, applies to property owned by or leased to an
authority and property owned by, leased to, or under construction by an entity in
which an authority has an ownership interest, or an entity in which an entity wholly
owned by an authority or of which an authority is the sole member has an ownership
interest on or after August 2, 2000. Nothing in this section, as amended, entitles or
shall be interpreted to entitle any entity to a refund of taxes from the state for any
period beginning before January 1, 2013, or to a refund of taxes from any county,
city and county, municipality, or other political subdivision of the state paid prior to
August 10, 2016. Notwithstanding the provisions of section 39-26-703 (2)(d), C.R.S.,
from August 10, 2016, until December 31, 2016, an entity may file a claim for a
refund of all state taxes overpaid under this section for the period from January 1,
2013, to August 10, 2016. On and after January 1, 2017, all claims for refund under
this section are subject to the provisions of section 39-26-703 (2)(d), C.R.S.

Legislative History

Source: L. 35: p. 552, � 28. CSA: C. 82, � 56. CRS 53: � 69-3-27. C.R.S. 1963: � 69-3-27. L. 2000: Entire section amended, p. 883, � 9, effective August 2. L. 2016: Entire section amended, (HB 16-1006), ch. 177, p. 609, � 2, effective August 10. L. 2019: (1)(a) amended, (HB 19-1272), ch. 358, p. 3289, � 3, effective August 2.