2011 Colorado legislation: HB 11-1300 (Conservation Easement Tax Credit Dispute Resolution) passes the state House Finance Committee

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From the Colorado News Agency (Debbie Brazale):

House Bill 1300, sponsored by Rep. Marsha Looper, R-Calhan, would allow disputes over the validity of conservation-easement tax credits to go directly to court rather than forcing landowners to await a ruling by the Colorado Department of Revenue.

The measure would also allow those who buy and sell the tax credits granted to the original owners to be a party to disputes in court, and it offers deadlines for resolution of the 600 or so cases currently pending: July 2014 for the donor and 2016 for related parties.

Today’s action by the House Finance Committee represented the second time this month that the panel was asked to dissect aspects of the complex program, which has drawn scrutiny from the media and state regulators in recent years amid allegations of abuse. Earlier this month, the committee also heard House Bill 1208, by Rep. Wes McKinley, D-Walsh, and its fate has yet to be decided. McKinley’s bill seeks administrative remedies for current easements that are in dispute
Looper said her bill’s aim is to provide options for landowners and tax-credit buyers who have been snared in red tape over challenges by the Revenue Department over the validity of conservation-easement tax credits.

More 2011 Colorado legislation coverage here.

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