§ 39-22-5502 — Definitions

Colorado § 39-22-5502

• Jurisdiction: Colorado
• Title 39: Taxation
• Art.: Income Tax

Text

As used in this part 55, 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) Allocation plan means an allocation plan adopted by the authority that
governs the selection criteria and preferences for allocating the tax credit allowed
pursuant to this part 55.

(3) Authority means the Colorado housing and finance authority created
pursuant to section 29-4-704.

(4) Certified transit-oriented community means:

(a) In calendar years 2025, 2026, and 2027, a transit-oriented community as
defined in section 29-35-202 (11); and

(b) In calendar year 2028 and each subsequent calendar year, a transit-oriented community, as defined in section 29-35-202 (11), that has both submitted
the housing opportunity goal report described in section 29-35-204 (10) to the
division and had the division confirm that the transit-oriented community has met
its housing opportunity goal.

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

(6) Credit means the Colorado transit-oriented community housing income
tax credit allowed pursuant to this part 55.

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

(8) Department means the department of revenue.

(9) Division means the division of local government of the department of
local affairs created in section 24-32-103.

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

(11) Metropolitan planning organization has the same meaning as set forth
in section 29-35-103 (12).

(12) Neighborhood center has the same meaning as set forth in section 29-35-202 (5).

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

(14) Qualified development means a qualified low-income housing
project, as that term is defined in section 42 of the internal revenue code, that is:

(a) Located in Colorado;

(b) 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; and

(c) Located in a transit-oriented center within a certified transit-oriented
community or in a neighborhood center within a metropolitan planning organization.

(15) Qualified taxpayer means an individual, a person, a firm, a corporation,
or an other entity that owns an interest, direct or indirect, in a qualified
development and is subject to the taxes imposed by this article 22.

(16) Transit center has the same meaning as set forth in section 29-35-202
(11).

Legislative History

Source: L. 2024: Entire part added, (HB 24-1434), ch. 291, p. 1978, � 2, effective May 30. L. 2025: (4) amended, (SB 25-300), ch. 428, p. 2457, � 59, effective August 6.