HB 14-1375, a bill that will negatively impact the use of the urban renewal tool of tax increment financing throughout the state, passed the Senate on Wed., May 7, 2014, and is headed to Gov. Hickenlooper’s desk for signature. Upon receipt, the governor will have 30 days to sign the bill, veto the bill, or allow it to pass into law without his signature.

Following is an overview of some of the key provisions in the bill. Many of our clients and fellow stakeholder groups are discussing the submittal of a veto request. Please let us know if you would like to participate in that effort, or if you would like an individualized analysis of how this legislation is likely to affect your existing or planned urban renewal community, area or project.