(1) (a) Except as provided in paragraph (b) of this subsection (1), on and after January 1, 2008, all real and personal property used to produce two megawatts or less of alternating current electricity from a renewable energy source shall be valued by the assessor in the county where the property is located in accordance with valuation procedures developed by the administrator.
(b) The valuation requirements specified in paragraph (a) of this subsection (1) shall not apply to small or low impact hydroelectric energy facilities, geothermal energy facilities, biomass energy facilities, solar energy facilities, or wind energy facilities, as those terms are defined in section 39-4-101.
In developing the valuation procedures specified in paragraph (a) of subsection (1) ofthis section, the administrator shall utilize the procedures adopted for determining the actual value of a renewable energy facility as specified in section 39-4-102 (1)(e).
A taxpayer shall notify the taxpayer's county assessor when the taxpayer installs realand personal property used to produce two megawatts or less of alternating current electricity from a renewable energy source; except that, if the taxpayer obtains a building permit under the jurisdiction of a local government for the installation, the notification required in this subsection (3) shall not be necessary.
Source: L. 2008: Entire section added, p. 1318, § 1, effective May 27. L. 2009: (1)(b) amended, (SB 09-177), ch. 186, p. 814, § 3, effective April 22. L. 2010: (1)(b) amended, (SB 10-019), ch. 382, p. 1787, § 3, effective June 8; (1)(b) amended, (SB 10-174), ch. 189, p. 815, § 10, effective August 11; (1)(b) amended, (SB 10-177), ch. 392, p. 1864, § 5, effective August 11.
Editor's note: Amendments to subsection (1)(b) by Senate Bill 10-019, Senate Bill 10174, and Senate Bill 10-177 were harmonized.
Cross references: For the legislative intent contained in the 2008 act enacting this section, see section 9 of chapter 302, Session Laws of Colorado 2008.