HB15-1219

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HB15-1219 - EZ Investment Tax Credit For Renewable Energy

Passed/Signed into Law
Concerning The Enterprise Zone Investment Tax Credit For Renewable Energy Projects.

Current law allows for an investment tax credit if a taxpayer makes a qualified investment in an enterprise zone. The tax credit can be carried forward by a taxpayer and it is not refundable. The bill allows a taxpayer who places a new renewable energy investment in service on or after January 1, 2015, that results in an investment tax credit to elect to receive a refund of 80% of the amount of the credit and forego the remaining 20% as a cost of the election. If 80% of the credit is $750,000 or less, the taxpayer receives the full refund in the first year. If 80% of the credit is more than $750,000, the taxpayer annually receives a refund not to exceed $750,000 per income tax year until 80% of the credit is completely refunded to the taxpayer.

The bill also requires the Colorado economic development commission to annually post on its web site, or on the web site of the Colorado office of economic development, the level of renewable energy investment on and after the effective date of the bill.

Finally, the bill changes the definition of renewable energy investment. In current law it refers specifically to solar thermal electric, photovoltaic, landfill gas, wind, biomass, hydroelectric, geothermal electric, recycled energy, anaerobic digestion, or renewable fuel cell projects. The bill changes the definition to projects that generate electricity from eligible energy resources that an electric utility may use to comply with Colorado's renewable energy standard.

Latest update: June 5, 2015
06/05/2015 Governor Signed
05/11/2015 Sent to the Governor
05/08/2015 Signed by the President of the Senate
05/08/2015 Signed by the Speaker of the House
04/30/2015 House Considered Senate Amendments - Result was to Concur - Repass
04/29/2015 Senate Third Reading Passed - No Amendments
04/28/2015 Senate Second Reading Special Order - Passed with Amendments - Floor
04/27/2015 Senate Second Reading Special Order - Laid Over Daily - No Amendments
04/24/2015 Senate Second Reading Special Order - Laid Over Daily - No Amendments
04/24/2015 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole
04/21/2015 Senate Committee on Finance Refer Unamended to Appropriations
04/16/2015 Introduced In Senate - Assigned to Finance + Appropriations
04/15/2015 House Third Reading Passed - No Amendments
04/14/2015 House Second Reading Passed with Amendments - Committee
04/13/2015 House Second Reading Laid Over Daily - No Amendments
04/10/2015 House Committee on Appropriations Refer Amended to House Committee of the Whole
03/25/2015 House Committee on Finance Refer Amended to Appropriations
03/04/2015 House Committee on Transportation & Energy Refer Unamended to Finance
02/10/2015 Introduced In House - Assigned to Transportation & Energy + Finance + Appropriations