h_sa_2016a_2016-02-17t10:00:35z1 Hearing Summary

Date: 02/17/2016

11:04 AM -- HB16-1174



Representative J. Becker, sponsor, presented House Bill 16-1174 to the committee. The bill requires the Department of Revenue (DOR) to allow income tax credits claimed for conservation easements donated prior to January 1, 2008, unless, prior to July 1, 2016:



• the DOR and the taxpayer have reached a final settlement;

• the DOR provides clear and convincing evidence of the easement's overvaluation, which is accepted by the Attorney General; or

• the easement's appraiser has been convicted of a criminal act of misrepresentation in connection with preparation of the appraisal.



The bill also authorizes a court to terminate a conservation easement created for the purpose of claiming an income tax credit if: the state has rejected the claim for the credit; the easement is appraised as having no more than a nominal value; and the easement's holder provided no compensation for donation of the easement or was reimbursed in whole for any compensation provided.



11:11 AM -- Baxter Arnold, representing himself, testified in support of the bill.



11:17 AM -- Debbie Van Wyke, representing the Department of Revenue, testified against the bill and answered questions from committee members.



11:29 AM -- Ervin Mitchek, representing himself, testified in support of the bill.



11:31 AM -- Eric Meyer, representing the Department of Law, testified against the bill and answered questions from committee members.



11:45 AM -- Don Shawcroft, representing the Colorado Farm Bureau, testified in support of the bill and answered questions from committee members.



11:53 AM -- Benjamin Waters, representing the Colorado Coalition of Land Trusts, testified against the bill.



11:55 AM -- Lane Phipps, representing himself, testified in support of the bill.



11:58 AM -- Alan Gentz, representing himself, testified in support of the bill and answered questions from committee members.



12:11 PM -- Julie Gentz, representing herself, testified in support of the bill and answered questions from committee members.



12:24 PM -- Rick Markus, representing himself, testified in support of the bill.



12:31 PM -- Jillane Hixson, representing herself, testified in support of the bill.



12:42 PM -- Julie Noonan, representing herself as legal counsel to conservation easement owners, testified in support of the bill and responded to questions from committee members.





12:51 PM



Representative Becker wrapped up his presentation of the bill.

01:11 PM



The committee adjourned.