Notification: Disallowed Conservation Easement Credits
Posted: June 20, 2011
On May 19, 2011, Governor Hickenlooper signed into law House Bill 11-1300, a copy of which is available on this Web page. Under the new legislation, the donor of a conservation easement, designated as the tax matters representative (“TMR”) pursuant to Sections 39-22-522(7)(i), C.R.S., 39-22-522.5, C.R.S., has the option to waive the administrative hearing and appeal the disallowance of the credit directly to a district court. Alternatively, the TMR may request an expedited administrative hearing and final determination. More detailed information regarding options available to TMRs and transferees of conservation easement tax credits are available on this Web page.
Pursuant to Section 39-22-522.5(14), C.R.S., prior to the issuance of a final determination or the conclusion of an appeal regarding a conservation easement tax credit, the Department will cease all actions to collect any amount of the disputed tax, interest, or other charges asserted to be owed.