Farmers and ranchers who are thinking about a conservation easement on their land might want to think fast.
The Legislature got moving again Tuesday on an almost-forgotten 10th bill in its tax package. Nine other Democratic tax bills on items ranging from soda to Internet sales were signed into law two weeks ago, The Durango Herald reports. But two more – on conservation easements and enterprise zones – got waylaid. The enterprise zone bill is still on hold, but the conservation easement bill, House Bill 1197, regained its footing Tuesday, passing the Senate Finance Committee 4-3.
In other coverage:
The Grand Junction Daily Sentinel: The Pueblo Chieftain: Land trusts on the Western Slope and around the state that help property owners get conservation easements aren’t thrilled with a bill in the Colorado Legislature, but they’re not opposing it anymore, either. That’s because state lawmakers reached a compromise with them. House Bill 1197 initially was intended to permanently lower by nearly two-thirds a cap on the tax credit allowed for each easement. Instead, the bill would cut by more than half the amount the state would pay, in the way of tax credits, for all easements over the next three years. And instead of having the measure go into effect March 1, which would have affected easements approved this year, it would become effective Jan. 1.