LEG00120

• Bill Number: HB83-1429
• Year: 1983
• Title: Concerning the Financing of Water Projects
• Legislation - Doc Type: Other CWCB Related Bills - Killed

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surtax imposed by this section is necessary for the health,

2 safety, and welfare of the citizens of this state because of

3 the increasing demands for water projects within the state,

4 the reduction of federal funds for such projects, and the need

5 for an additional source of funds to finance such projects.

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For the purposes of this section, "water projects" shall

include, but not be limited to, any type of project relating

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to water resource conservation, supply, treatment, storage,

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management,

control, or use.

including hydroelectric

facilities or any other project the general

assembly

determines, through an appropriation, to be necessary for the
health, safety, and welfare of the citizens of this state.

(2) For income tax years commencing on or after January

1, 1984, in addition to the tax imposed upon Colorado taxable
income, there shall be levied, collected, and paid for each
taxable year a surtax upon the Colorado income tax of every

17 resident individual at the rate of percent and upon
18 the Colorado income tax of every corporation or partnership
19 doing business in Colorado at the rate of percent.
20 In the case of a return made for a fractional part of a year,
21 the surtax for individuals and for corporations and
22 partnerships shall be reduced to an amount which bears the
23 same ratio as the number of months in the period for which the
24 return is made bears to twelve months.

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(3) All moneys collected from the surtax imposed by this

section shall be credited to the Colorado water projects fund,

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1429

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