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 10 - TAX CREDIT MAY NOT BE TAKEN IN YEARS WHEN PROJECTED GENERAL FUND REVENUES ARE INSUFFICIENT
Current through Register Vol. 47, No. 5, March 10, 2024
10.1 For income tax returns prepared for calendar year 2011 and years thereafter, the tax credit may not be taken if general fund revenue estimates prepared by the legislative council in December 2010 and each December thereafter for each succeeding year indicates the general fund is insufficient to maintain the limit on appropriations as determined by the legislature in 24-75-201.1, and 39-22-514 (11.7) C.R.S. However, the tax credit may then be taken in years in which funds are sufficient.
10.2 The Department of Revenue is required to post on its website by January 1 of each year starting January 1, 2011 whether or not the tax credit may be taken for that year. The Colorado Historical Society shall notify certified local governments of the determination after it is posted.
