Colorado § 39-22-5504 - Recapture.
Full text of Colorado Colorado Revised Statutes § 39-22-5504 — Recapture., with citation guidance and answers to common questions.
§ 39-22-5504. Recapture.
(1) As of the last day of any taxable year during the compliance period, if the amount of the qualified basis of a qualified development with respect to a taxpayer is less than the amount of the qualified basis as of the last day of the prior taxable year, then the amount of the taxpayer's state income tax liability for that taxable year must be increased by the credit recapture amount.
(2) For purposes of subsection (1) of this section, the credit recapture amount is an amount equal to the aggregate decrease in the credit allowed to the taxpayer pursuant to this part 55 for all prior taxable years that would have resulted if the accelerated portion of the credit allowable by reason of this part 55 were not allowed for all prior taxable years with respect to the reduced amount of qualified basis described in subsection (1) of this section.
(3) For purposes of subsection (2) of this section, the accelerated portion of the credit for the prior taxable years with respect to any amount of qualified basis is the difference between:
(a) The aggregate amount of the credit allowed pursuant to this part 55, notwithstanding this subsection (3), for the years with respect to such qualified basis; and
(b) The aggregate amount of the credit that would be allowed pursuant to this part 55 for such years with respect to the qualified basis if the aggregate credit that would have been allowable, but for this subsection (3), for the entire compliance period were allowable ratably over fifteen years.
(4) In the event that recapture of any credit is required in any tax year, the return submitted for that tax year to the department shall include the proportion of credit required to be recaptured, the identity of each taxpayer subject to the recapture, and the amount of credit previously allocated to such taxpayer.
(5) Notwithstanding subsection (1) of this section, credits issued pursuant to this part 55 must not be recaptured if a qualified development, after the initial award of credits, ceases being located in a transit-oriented center within a certified transit-oriented community or in a neighborhood center within a metropolitan planning organization.
Source: L. 2024: Entire part added, (HB 24-1434), ch. 291, p. 1982, § 2, effective May 30.
Frequently Asked Questions About Colorado § 39-22-5504
What does Colorado Revised Statutes § 39-22-5504 cover?
Section 39-22-5504 ("Recapture.") 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 § 39-22-5504?
A common citation format is "Colorado Revised Statutes § 39-22-5504" (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 § 39-22-5504 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.