Colorado § 39-22-5401 - Tax preference performance statement - legislative declaration.
Full text of Colorado Colorado Revised Statutes § 39-22-5401 — Tax preference performance statement - legislative declaration., with citation guidance and answers to common questions.
§ 39-22-5401. Tax preference performance statement - legislative declaration.
(1) In accordance with section 39-21-304, which requires each bill that creates a new tax expenditure to include a tax preference performance statement as part of a statutory legislative declaration, the general assembly finds and declares that the purposes of the tax credit allowed in this part 54 are to induce certain designated behavior by taxpayers and to provide tax relief for certain businesses or individuals. Specifically, the credit seeks to address the shortage of affordable housing in the state and increase access to affordable housing by encouraging developers to build units specifically for middle-income individuals and families and also to encourage private sector investment in affordable housing.
(2) The general assembly and the state auditor shall measure the effectiveness of the income tax credit allowed in this part 54 in achieving the purposes specified in subsection (1) of this section based on the information required to be reported to the state auditor by the Colorado housing and finance authority pursuant to section 39-22-5408.
Source: L. 2024: Entire part added, (HB 24-1316), ch. 287, p. 1919, § 1, effective May 30.
Frequently Asked Questions About Colorado § 39-22-5401
What does Colorado Revised Statutes § 39-22-5401 cover?
Section 39-22-5401 ("Tax preference performance statement - legislative declaration.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 39-22-5401?
A common citation format is "Colorado Revised Statutes § 39-22-5401" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 39-22-5401 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.