FirstHCR1001_H_FIN.001 RegularNOT SessionAMENDED Seventy-fifthHOUSE GeneralCOMMITTEE AssemblyOF STATEREFERENCE OFREPORT COLORADO_______________________________ INTRODUCEDFebruary LLS24, NO.2025 Chair of Committee Date Committee on Finance .

R25-0560.01After Jasonconsideration Gelenderon x4330the HCR25-1001merits, HOUSEthe SPONSORSHIPCommittee DeGraaf,recommends SENATEthe SPONSORSHIPfollowing: (None), House Committees Senate Committees Finance HOUSE CONCURRENT RESOLUTION 25-1001 SUBMITTING TO THE REGISTERED ELECTORS OF THE STATE OF C OLORADOANAMENDMENTTOTHE C OLORADOCONSTITUTION CONCERNING THE EXPANSION OF ELIGIBILITY FOR THE SENIOR PROPERTY TAX EXEMPTION ,AND,IN CONNECTION THEREWITH , ALLOWINGASENIORWHORECEIVEDTHEEXEMPTIONFOR 2016 OR ANY LATER YEAR FOR A PRIOR OWNER -OCCUPIED PRIMARY RESIDENCE TO CLAIM THE EXEMPTION FOR THE SENIOR S CURRENTOWNER -OCCUPIEDPRIMARYRESIDENCEREGARDLESS OF HOW LONG THE SENIOR HAS OWNED AND OCCUPIED THAT RESIDENCE .

ResolutionHCR25-1001 Summarybe (Note:postponed indefinitely.

This** summary*** appliestothisresolution** as*** introduced** and Shading denotes HOUSE amendment.

Double underlining denotes SENATE amendment.

Capital letters or bold & italic numbers indicate new material to be added to existing law.

Dashes through the words or numbers indicate deletions from existing law.

doesnotreflectanyamendmentsthatmaybesubsequentlyadopted.Ifthis resolutionpasses third reading in the house of introduction, a resolution summarythatappliestothereengrossedversionofthisresolutionwillbe available at http://leg.colorado.gov/.) The state constitution currently only allows a senior who has owned and occupied the senior's primary residence for 10 years, or the surviving spouse of such a senior, to claim a property tax exemption for 50% of the first $200,000 of actual value of the primary residence (exemption).

If approved by the voters of the state at the 2026 general election, the concurrent resolution will allow a senior, or the surviving spouse of such a senior, who has previously qualified for the exemption for 2016 or any later year for a prior primary residence to claim the exemption for the senior's current owner-occupied primary residence regardlessofhowlongtheseniorhasownedandoccupiedthatresidence.

BeItResolvedbytheHouseofRepresentativesoftheSeventy-fifth GeneralAssemblyoftheStateofColorado,theSenateconcurringherein:

SECTION 1.

At the election held on November 3, 2026, the secretary of state shall submit to the registered electors of the state the ballot title set forth in section 2 for the following amendment to the state constitution:

In the constitution of the state of Colorado, section 3.5 of article X, amend (1) introductory portion;

and add (1)(a.5) as follows:

Section 3.5.

Homestead exemption for qualifying senior citizens, disabled veterans, and surviving spouses receiving dependencyindemnitycompensation-definition.(1) Forpropertytax years commencing on or after January 1, 2002, fifty percent of the first twohundred thousand dollars of actualvalueof residentialrealproperty, as defined bylaw, that, as of the assessment date, is owner-occupied and isusedastheprimaryresidenceof theowner-occupiershallbe ISexempt from property taxation if:

(a.5) FOR PROPERTY TAX YEARS COMMENCING ON OR AFTER -2- HCR25-1001 JANUARY 1, 2027,ONLY , THE OWNER OCCUPIER HAD RECEIVED AN EXEMPTION PURSUANT TO SUBSECTION (1)(a)OR (1)(b)OF THIS SECTION ORTHISSUBSECTION (1)(a.5)FORANYPROPERTYTAXYEARCOMMENCING ON OR AFTER JANUARY 1, 2016FOR RESIDENTIAL REAL PROPERTY THAT THEOWNER -OCCUPIERTHEREAFTERCEASEDOCCUPYING FORANYPERIOD , AS THE OWNER -OCCUPIER S PRIMARY RESIDENCE;

SECTION 2.

Each elector voting at the election may cast a vote either "Yes/For" or "No/Against" on the following ballot title:

"Shall there be an amendment to the Colorado constitution concerning the expansion of eligibility for the senior property tax exemption, and, in connection therewith, allowing a senior who received the exemption for 2016 or any later year for a prior owner-occupied primary residence to claim the exemption for the senior's current owner-occupied primary residence regardless of howlongthe senior has owned and occupied that residence?" SECTION 3.

Except as otherwise provided in section 1-40-123, Colorado Revised Statutes, if at least fifty-five percent of the electors votingontheballottitlevote"Yes/For",thentheamendmentwillbecome part of the state constitution.

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