C.R.S. § 39-3-127.5

(1) As used in this section, unless the context otherwise requires: (a) “Qualified business entity” means a limited partnership or a limited liability company: (I) That is formed for the purpose of obtaining federal tax credits and that does obtain such credits; and (II) The general partner or managing member of which is an entity that would qualify for property tax exemption under sections 39-3-106 to 39-3-113.5 . (2) For property tax years beginning on or after January 1, 2014, real and personal property is exempt from the levy and collection of property tax if: (a) The property tax is owed by a qualified business entity; and (b) The property is used for the purposes described in sections 39-3-106 to 39-3-113.5 and 39-3-116 . (3) In addition to any other requirement specified in this section, any exemption claimed pursuant to the provisions of this section must also comply with section 39-2-117 .