HB 25-1040

House Bill 25-1040 in Colorado updates the state's definition of clean energy to include nuclear power. This means that nuclear energy projects can now qualify for clean energy financing and be used by utilities to meet their clean energy goals set for 2050. However, when it comes to property taxes, nuclear energy is not considered a clean energy resource, so it won't affect how these projects are taxed. The bill has been signed into law, meaning its changes are now in effect.

Official Summary

The statutory definition of "clean energy" determines which energy projects are eligible for clean energy project financing at the county and city and county level. The statutory definition of "clean energy resource" determines which energy resources may be used by a qualifying retail utility to meet the 2050 clean energy target. The act updates the 2 statutory definitions to include nuclear energy; except that, for property valuations made for tax purposes, the act exempts from the definition of "clean energy resource" nuclear energy. (Note: This summary applies to this bill as enacted.)

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