Chapter 10 - § 10.3 • COLORADO LEGISLATION

• Jurisdiction: Colorado

§ 10.3 • COLORADO LEGISLATION

§ 10.3.1—Historical Societies

• C.R.S. §§ 24-80-201 to 24-80-214
• C.R.S. §§ 24-80-301 to 24-80-307
• C.R.S. §§ 24-80-1201 and 24-80-1202
• C.R.S. §§ 24-80.1-102 to 24-80.1-108

The State of Colorado adopted the Colorado Historical Society as the State Historical Society in 1915. The State Historical Society has purposes similar to those of the national Advisory Council on Historic Preservation, with a state-level focus. The State Historical Society maintains a state register of historic places,⁶ establishes guidelines for local historic preservation,⁷ and works with local governments in furthering the goal of preserving historic resources in Colorado.⁸ The Society also designates landmarks and ghost towns.⁹

§ 10.3.2—Tax Credits

• C.R.S. §§ 39-22-514.5

For Qualified Preservation Expenses

Prior to December 31, 2019, Colorado provided tax credits for qualified costs incurred in the preservation of certain historic properties.¹⁰ For the period from July 1, 2015, through December 31, 2019, Colorado provided taxpayers with two different programs that offer income tax credit for the rehabilitation of qualified historic properties: (1) the Historic Preservation Tax Credit Act of 1990 (C.R.S. § 39-22-514) (the 1990 Tax Credit Act); and (2) the Colorado Job Creation and Main Street Revitalization Act of 2014 (C.R.S. § 39-22-514.5) (the 2014 Revitalization Act or Act).

The General Assembly did not elect to extend the 1990 Tax Credit Act beyond the December 31, 2019 expiration date, but it did extend the 2014 Revitalization Act. Pursuant to HB 18-1190 (Effective May 30, 2018) the General Assembly extended the 2014 Revitalization Act for another 10 years from January 1, 2020 to December 31, 2029, and expanded the program with additional incentives in rural areas and small projects.

The 2014 Revitalization Act increased the percentage of tax credit in all categories and added rural designations with even higher tax credits. The Act now offers the following tax credits based on residential/commercial and non-rural/rural designations:

• 30 percent tax credit for commercial rehab expenses below $2 million (tax credit limit $1 million).
• 25 percent tax credit for commercial rehab expenses above $2 million (tax credit limit $1 million).
• 35 percent tax credit for commercial-rural rehab expenses below $2 million (tax credit limit $1 million).
• 30 percent tax credit for commercial-rural rehab expenses above $2 million (tax credit limit $1

...