News - Local
Ritter rejects tax amnesty for land credits
Posted: Jan 23, 2010 7:22 AM by Associated Press
Gov. Bill Ritter is opposing any legislation to grant amnesty to hundreds of Coloradans whose tax credits for conservation easements are being challenged by federal and state authorities.
Ritter's chief counsel, Trey Rogers, says the disputed credits total $100 million - money the state needs with a $1.5 billion budget deficit. Instead, the administration wants to settle each
case individually.
The easements were set up to guarantee that land will not bedeveloped, but the state contends the program was abused by people who overvalued their land. The state is demanding that 295 landowners return the money - money the farmers and ranchers contend they don't have.
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