COLORADO DEPARTMENT OF REVENUE
STATEMENT OF BASIS AND PURPOSE

Re: Regulation 39-22-522 (1 CCR 201-2) – AMENDED. 
Gross Conservation Easement Credit. 

Basis:

The statutory basis for this regulation is §39-21-112 and §39-22-522.

Purpose:
	House Bill 08-1353 modified the filing requirements for easement donors claiming the credit.  The bill also limited the amount of the credit that can be claimed on properties held for less than one year prior to the date of donation.  Additionally, the situations in which the department can require second appraisals were broadened.  This regulation is being revised to reflect these changes.