HB 23-1184 CO

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Became Law

Section 2 of the act clarifies and expands the current property tax exemption for property acquired by nonprofit housing providers for low-income housing. Section 2 also clarifies that property may qualify for the property tax exemption, through construction on the property, until the property is sold or transferred. The act expands the definition of "low-income" applicants to include individuals or families who are at or below 100% of the area median income or, if the property is in a rural resort community, at or below 120% of the area median income, as well as individuals or families who are at or below 80% of the area median income and were already included in the definition. Section 1 of the act requires applicants for the exemption described in section 2 of the act to follow the same process and submit the same forms that are required for applicants for similar exemptions. Section 3 deems certain property held by community land trusts and nonprofit affordable homeownership developers to be used for a strictly charitable purpose and to consequently be exempt from property taxation in accordance with the state constitution. To qualify for the exemption, the property must be split into a separate taxable parcel from the improvements on the property and leased to the owner of the improvements as an affordable homeownership property. APPROVED by Governor May 25, 2023 EFFECTIVE August 7, 2023 NOTE: This act was passed without a safety clause and takes effect 90 days after sine die. (Note: This summary applies to this bill as enacted.)

• William Lindstedt Democratic · primary
• Lisa Frizell Republican · primary
• Dylan Roberts Democratic · primary

1. May 25, 2023 Governor Signed · executive
2. May 17, 2023 Sent to the Governor · executive
3. May 17, 2023 Signed by the President of the Senate · upper
4. May 17, 2023 Signed by the Speaker of the House · lower
5. May 1, 2023 Senate Third Reading Passed - No Amendments · upper
6. Apr 28, 2023 Senate Second Reading Special Order - Passed - No Amendments · upper
7. Apr 28, 2023 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole · upper
8. Apr 25, 2023 Senate Committee on Finance Refer Unamended to Appropriations · upper
9. Apr 12, 2023 Introduced In Senate - Assigned to Finance · upper
10. Apr 11, 2023 House Third Reading Passed - No Amendments · lower
11. Apr 10, 2023 House Second Reading Special Order - Passed with Amendments - Committee · lower
12. Apr 3, 2023 House Second Reading Laid Over Daily - No Amendments · lower
13. Mar 30, 2023 House Committee on Appropriations Refer Unamended to House Committee of the Whole · lower
14. Mar 6, 2023 House Committee on Finance Refer Amended to Appropriations · lower
15. Feb 28, 2023 House Committee on Transportation, Housing & Local Government Refer Amended to Finance · lower
16. Feb 8, 2023 Introduced In House - Assigned to Transportation, Housing & Local Government · lower