Code of Colorado Regulations
1504 - Department of Higher Education
1504 - Historical Society
8 CCR 1504-6 - INCOME TAX CREDIT FOR QUALIFIED COSTS INCURRED IN PRESERVATION OF HISTORIC PROPERTIES
- Section 1 - IMPLEMENTATION
- Section 2 - APPLICATION TO REVIEWING ENTITY
- Section 3 - RESPONSE BY REVIEWING ENTITY
- Section 4 - CONTRIBUTING PROPERTY
- Section 5 - QUALIFIED COSTS
- Section 6 - APPROVAL OF COMPLETED QUALIFIED REHABILITATION
- Section 7 - VERIFICATION OF COMPLIANCE
- Section 8 - EXTENSION OF COMPLETION DEADLINE
- Section 9 - CERTIFIED LOCAL GOVERNMENTS AS REVIEWING ENTITIES
- Section 10 - TAX CREDIT MAY NOT BE TAKEN IN YEARS WHEN PROJECTED GENERAL FUND REVENUES ARE INSUFFICIENT
STATEMENT OF BASIS AND PURPOSE:
House Bill 90-1033 required the establishment and promulgation of criteria and procedures by which restoration, rehabilitation and preservation of qualified properties shall be determined to be qualified rehabilitation for purposes of a tax credit. House Bill 99-1345, which reauthorizes with amendments the tax credit through December 31, 2009, maintained this provision as does House Bill 08-1033 which reauthorizes with amendments the tax credit through December 31, 2019.
The purpose of the criteria and procedures is to provide uniformity of procedure for the state historic preservation officer, State Historical Society of Colorado, and the participating certified local governments, so that taxpayers applying for use of the tax credit receive prompt and consistent review of proposed and completed rehabilitation work.
Entire rule eff. 12/30/2009.
