C.R.S. § 39-22-5701: Tax preference performance statement - report.

(1) In accordance with section 39-21-304 (1), which requires each bill that creates a new tax expenditure to include a tax preference performance statement as part of a statutory legislative declaration, the general assembly finds and declares that the purpose of the tax credit provided in this section is to induce certain designated behavior by taxpayers by supporting the development of affordable housing within transit and housing investment zones.

(2) The general assembly and the state auditor shall measure the effectiveness of the credit in achieving the purpose specified in subsection (1) of this section based on the report described in subsection (3) of this section.

(3) For each allocation year, the authority shall, by December 31 of that year, provide a written report to the general assembly and make the report available to the public. With respect to tax credits allocated pursuant to this part 57, the report must:

(a) Specify the total number of qualified developments and units supported by each development in connection with the credit;

(b) Describe each qualified development in connection with which the authority issued credits, including in that description the geographic location of the development, the household type and any specific demographic information available about residents intended to be served by the development, the income levels intended to be served by the development, and the rents or set-asides authorized for each development; and

(c) Provide housing market and demographic information that demonstrates how the qualified developments supported by credits are addressing the need for affordable housing within the communities they are intended to serve as well as information about any remaining disparities in the affordability of housing within those communities.