HB 24B-1003

This Colorado bill, HB 24B-1003, makes sure that businesses growing crops in greenhouses for profit don’t have to pay personal property taxes on the equipment they use. This tax exemption applies to any greenhouse used for growing plants meant for human or animal consumption and will be permanent starting November 28, 2024. The bill has been signed by the governor and is now law once the effective date arrives, benefiting agricultural businesses that operate controlled environment greenhouses.

Official Summary

Section 1 of the act clarifies that personal property used in direct connection with the operation of a greenhouse for the sole purpose of growing crops in the greenhouse to obtain a monetary profit from the wholesale of plant-based food for human or livestock consumption is included in the definition of equipment used in a controlled environment agricultural (CEA) facility and is thus exempt pursuant to the exemption for such agricultural equipment, which exemption is permanently extended to all future property tax years in section 2 of the act. APPROVED by Governor September 6, 2024 EFFECTIVE November 28, 2024(Note: This summary applies to this bill as enacted.)

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