§ 39-3-108.5 — Property - community corrections facility - exemption

Colorado § 39-3-108.5

• Jurisdiction: Colorado
• Title 39: Taxation
• Art.: Exemptions

Text

(1)
Property, real and personal, which is owned and used solely and exclusively for
strictly charitable purposes and not for private gain or corporate profit shall be
exempt from the levy and collection of property tax if such property is owned and
used by a nonprofit community corrections agency for a community correctional
facility or program.

(2) As used in this section:

(a) Community correctional facility or program shall have the meaning set
forth in section 17-27-102 (3), C.R.S., for community corrections program.

(b) Nonprofit community corrections agency means any person, agency,
corporation, association, or entity that:

(I) Is exempt from federal income tax pursuant to the Internal Revenue
Code of 1986, as amended; and

(II) Operates a community correctional facility or program.

(3) The provisions of this section shall apply to property tax years beginning
on or after January 1, 1993.

Legislative History

Source: L. 93: Entire section added, p. 614, � 2, effective April 30. L. 95: (2)(a) amended, p. 1108, � 54, effective May 31.