Colorado § 39-22-2101 Definitions

Colorado Statutes

§ 39-22-2101 — Definitions

Colorado·Title 39 Taxation·Art. Income Tax

As used in this part 21, unless the context otherwise requires:

(1)Allocation certificate means a statement issued by the authority certifying that a given development qualifies for the credit and specifying the amount of the credit allowed.

(2)Authority means the Colorado housing and finance authority created pursuant to section 29-4-704, C.R.S.

(3)Compliance period means the period of fifteen years beginning with the first taxable year of the credit period.

(4)Credit means the Colorado affordable housing tax credit allowed pursuant to section 39-22-2102.

(5)Credit period means the period of six taxable years beginning with the taxable year in which a qualified development is placed in service. If a qualified development is comprised of more than one building, the develo

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As used in this part 21, unless the context
otherwise requires:

(1) Allocation certificate means a statement issued by the authority
certifying that a given development qualifies for the credit and specifying the
amount of the credit allowed.

(2) Authority means the Colorado housing and finance authority created
pursuant to section 29-4-704, C.R.S.

(3) Compliance period means the period of fifteen years beginning with the
first taxable year of the credit period.

(4) Credit means the Colorado affordable housing tax credit allowed
pursuant to section 39-22-2102.

(5) Credit period means the period of six taxable years beginning with the
taxable year in which a qualified development is placed in service. If a qualified
development is comprised of more than one building, the development shall be
deemed to be placed in service in the taxable year during which the last building of
the qualified development is placed in service.

(6) Department means the Colorado department of revenue.

(7) Federal tax credit means the federal low-income housing tax credit
provided by section 42 of the internal revenue code.

(8) Qualified allocation plan means the qualified allocation plan adopted
by the authority pursuant to section 42 (m) of the internal revenue code.

(9) Qualified basis means the qualified basis of the development as
determined pursuant to section 42 of the internal revenue code.

(10) Qualified development means a qualified low-income housing
project, as that term is defined in section 42 of the internal revenue code, that is
located in Colorado and is determined by the authority to be eligible for a federal
tax credit whether or not a federal tax credit is allocated with respect to said
development.

(11) Qualified taxpayer means an individual, a person, firm, corporation, or
other entity that owns an interest, direct or indirect, in a qualified development and
is subject to the taxes imposed by this article.

Colorado § 39-22-2101 (Definitions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 2000: Entire part added, p. 875, � 1, effective August 2. L. 2014: (5), (7), and (11) amended, (HB 14-1017), ch. 277, p. 1125, � 3, effective May 29. L. 2018: (4) amended, (SB 18-007), ch. 228, p. 1439, � 1, effective May 22.