ColoradoTransit and Housing Investment Zones
What it does
The act creates the 'Transit Investment Area Act' to facilitate the financing of transit and rail station infrastructure. Specifically, the act:Allows a local government and a transit agency to jointly undertake a transit investment project. To finance the project, the local government may apply to the Colorado economic development commission (commission) to designate a transit investment area and an approved financing entity;Authorizes the approved financing entity, which may be a newly created transit investment authority, a county revitalization authority, a metropolitan district, or an urban renewal authority, to receive state sales tax increment revenue.
More detail
This revenue consists of the state sales tax collected in the designated area above a base amount, plus an additional 20% to account for out-of-area deliveries.Permits the financing entity to issue bonds and use the state sales tax increment revenue to finance eligible improvements related to the transit project;Prohibits the financing entity from using the state sales tax increment revenue to acquire property through eminent domain;Requires projects to comply with specified hiring, apprenticeship, and workforce standards;Caps the commission's approval authority at no more than 3 transit investment projects in any calendar year and no more than 6 in total and caps the total state sales tax increment revenue dedicated to all projects at $75 million per fiscal year; andAuthorizes the commission to revoke project approval if substantial work does not commence within 5 years and requires financing entities to submit annual reports and independent financial audits. The act requires the Colorado office of economic development, in consultation with the department of local affairs and the department of transportation, to publish a transit and housing investment zone map on or before October 30, 2026. The act creates the Colorado affordable housing in transit and housing investment zones tax credit (tax credit). The tax credit is administered in the same manner as the Colorado affordable housing in transit-oriented communities income tax credit; except that the tax credit is awarded in connection with housing projects in transit and housing zones. The act authorizes the Colorado Housing and Finance Authority to allocate up to $8,333,333 in tax credits each calendar year beginning in the 2027 calendar year through the 2033 calendar year. For the 2026-27 state fiscal year, the act appropriates $213,349 to the office of the governor for use by economic development programs.(Note: This summary applies to this bill as enacted.)
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- May 27Governor Jared Polis SignedBecame Law
- May 18Signed by the Speaker of the HouseMajor
- May 18Signed by the President of the SenateMajor
- May 18Sent to the GovernorTo Governor
- May 13House Considered Senate Amendments - Result was to Concur - Repass
- Vote recorded CONCUR. Result: pass.Upper
- Vote recorded REPASS. Result: pass.Upper
- Vote recorded REPASS. Result: pass.Lower
- Vote recorded CONCUR. Result: pass.Lower
- May 12Senate Third Reading Passed - No AmendmentsPassed Senate
- Vote recorded BILL. Result: pass.Upper
- May 11Senate Committee on Appropriations Refer Amended to Senate Committee of the WholeMinor
- Vote recorded Adopt amendment J.002. Result: pass.Upper
- Vote recorded Refer House Bill 26-1065, as amended, to the Committee of the Whole. Result: pass.Upper
- May 11Senate Second Reading Special Order - Passed with Amendments - Committee
- May 7Senate Committee on Finance Refer Amended to AppropriationsMinor
- Vote recorded Refer House Bill 26-1065, as amended, to the Committee on Appropriations. Result: pass.Upper
- Vote recorded Adopt amendment L.020 (Attachment C). Result: pass.Upper
- May 4House Third Reading Passed - No AmendmentsPassed House
- Vote recorded BILL. Result: pass.Lower
- May 4Introduced In Senate - Assigned to FinanceMinor
- May 1House Committee on Appropriations Refer Amended to House Committee of the WholeMinor
- Vote recorded Refer House Bill 26-1065, as amended, to the Committee of the Whole. Result: pass.Lower
- Vote recorded Adopt amendment J.001. Result: pass.Lower
- May 1House Second Reading Special Order - Passed with Amendments - Committee, Floor
- Feb 23House Committee on Finance Refer Amended to AppropriationsMinor
- Vote recorded Adopt amendment L.004. Result: pass.Lower
- Vote recorded Adopt amendment L.012. Result: pass.Lower
- Vote recorded Adopt amendment L.010. Result: pass.Lower
- Vote recorded Adopt amendment L.009. Result: pass.Lower
- Vote recorded Adopt amendment L.007. Result: pass.Lower
- Vote recorded Adopt amendment L.001. Result: pass.Lower
- Jan 21Introduced In House - Assigned to FinanceIntroduced