Colorado Desk - Governor Polis Signs Bill to Provide Tax Cut For Colorado Greenhouses and other Agricultural Businesses

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AURORA ~ AURORA - In a move to support Colorado's agricultural businesses and promote economic growth, Governor Polis signed HB24B-1003, also known as the Business Personal Property Tax Exemptions bill. The bill, sponsored by Representatives Matt Soper and Junie Joseph and Senators Kevin Priola and Mark Baisley, will provide tax relief for greenhouses and other agricultural businesses in the state.

During the signing ceremony at Gotham Greens, a fresh food company with two large greenhouses in Aurora and Windsor, Governor Polis expressed his pride in Colorado's role in providing food for both local communities and the world. He emphasized the importance of supporting the success of agricultural businesses and entrepreneurs.

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The bill will make certain property tax exemptions permanent, including an exemption for equipment used in greenhouses to grow food. This will not only help save money for these businesses but also attract additional investment to the growing indoor agriculture sector. With its water and land efficiency, this sector has the potential to produce crops year-round.

The personal property tax relief provided by this bill is expected to have a positive impact on job creation and Colorado's economy as a whole. By cutting taxes for greenhouses and other agricultural businesses, more money will be kept in the pockets of hardworking Coloradans who contribute to the state's economy.

Governor Polis' signing of HB24B-1003 marks a significant step towards supporting Colorado's agricultural industry and promoting sustainable practices. With this new legislation in place, it is hoped that more businesses will be encouraged to invest in this key area, further strengthening Colorado's economy.

Filed Under: Government, State

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