Amendment vs bill Committee Amendment vs Engrossed

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First Regular Session Seventy-first General Assembly STATE OF COLORADO REENGROSSED This Version Includes All Amendments Adopted in the House of Introduction LLS NO.
HB1016_S_LG.001 NOT AMENDED SENATE COMMITTEE OF REFERENCE REPORT _______________________________ February 21, 2017 Chairman of Committee Date Committee on Local Government .
17-0205.01 Bob Lackner x4350 HOUSE BILL 17-1016 HOUSE SPONSORSHIP Saine and Gray, SENATE SPONSORSHIP Martinez Humenik and Zenzinger, House Committees Senate Committees Local Government Finance A BILL FOR AN ACT C ONCERNING THE ABILITY OF AN URBAN RENEWAL AUTHORITY TO EXCLUDETHEVALUATIONATTRIBUTABLETOTHEEXTRACTION OFMINERALRESOURCESLOCATEDWITHINANURBANRENEWAL AREA FROM THE TOTAL AMOUNT OF TAXABLE PROPERTY SUBJECT TO DIVISION FOR THE PURPOSE OF FINANCING URBAN e RENEWAL PROJECTS .
After consideration on the merits, the Committee recommends the following:
n 7 m 0 E n , Bill Summary U U y O i a H a b (Note:
HB17-1016 be referred to the Committee of the Whole with favorable recommendation and with a recommendation that it be placed on the consent calendar.
This summary applies to this bill as introduced and does R e notreflectanyamendmentsthatmaybesubsequentlyadopted.Ifthisbill r F passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://leg.colorado.gov.) i 17 a 2 The bill permits the governing body of a municipality, as E e ,6 U d r O 2 u Shading denotes HOUSE amendment.
** *** ** *** ** *HB1016_S_LG.001*
Double underlining denotes SENATE amendment.
H d b Capital letters indicate new material to be added to existing statute.
d F Dashes through the words indicate deletions from existing statute.
e A applicable, to provide in an urban renewal plan that the valuation attributabletotheextractionofmineralresourceslocatedwithintheurban renewal area is not subject to the division of taxes between base and incremental revenues that accompanies the tax increment financing of urban renewal projects.
In such circumstances, the taxes levied on the valuation will be distributed to the public bodies as if the urban renewal plan was not in effect.
Be it enacted by the General Assembly of the State of Colorado:
SECTION1.
InColoradoRevisedStatutes,31-25-107,add(9.6) as follows:
31-25-107.
Approval of urban renewal plans by local governing body - definitions.
(9.6)NOTWITHSTANDING ANY OTHER PROVISION OF LAW ,THE GOVERNING BODY OF THE MUNICIPALITY ,AS APPLICABLE ,MAY PROVIDE IN AN URBAN RENEWAL PLAN THAT THE VALUATIONATTRIBUTABLETOTHEEXTRACTIONOFMINERALRESOURCES LOCATED WITHIN THE URBAN RENEWAL AREA SHALL NOT BE SUBJECT TO THEDIVISIONTHATISOTHERWISEREQUIREDBYSUBSECTION (9)(aOFTHIS SECTION.
IN SUCH CIRCUMSTANCES , THE TAXES LEVIED ON THE VALUATIONWILLBEDISTRIBUTEDTOTHEPUBLICBODIESASIFTHEURBAN RENEWAL PLAN WAS NOT IN EFFECT.
(b) FOR PURPOSES OF THIS SUBSECTIO(9.6):
(I) "MINERALRESOURCES " HAS THE SAME MEANINGAS SPECIFIED IN SECTION36-1-100.3 (3).
(II) "ALUATIONATTRIBUTABLETOTHEEXTRACTIONOFMINERAL RESOURCES "INCLUDES :
(A) T HE VALUE OF OIL AND GAS LEASEHOLDS AND LAND AND SUBSURFACE OIL AND GAS WELL EQUIPMENT THAT IS VALUED FOR ASSESSMENT PURPOSES AS REAL PROPERTY UNDER SECTIONS 39-7-102 AND 39-7-103;AND -2- 1016 (B) SURFACE OIL AND GAS WELL EQUIPMENT AND SUBMERSIBLE PUMPS AND SUCKER RODS LOCATED ON OIL AND GAS LEASEHOLDS AND LAND THAT IS VALUED FOR ASSESSMENT PURPOSES AS PERSONAL PROPERTY UNDER SECTION 39-7-103.
SECTION 2.
Act subject to petition - effective date - applicability.(1) Thisacttakeseffectat12:01a.m.onthedayfollowing the expiration of the ninety-day period after final adjournment of the general assembly(August 9, 2017, if adjournment sine die is on May10, 2017);
except that, if a referendum petition is filed pursuant to section 1 (3)ofarticleVofthestateconstitutionagainstthisactoranitem,section, or part of this act within such period, then the act, item, section, or part will not take effect unless approved bythe people at the general election to be held in November 2018 and, in such case, will take effect on the date of the official declaration of the vote thereon by the governor.
(2) This act applies to propertytax years commencing on or after the applicable effective date of this act.
-3- 1016