(1) As used in this section, "controlled environment agricultural facility" or "CEA facility" has the same meaning as specified in section 39-1-102 (3.3). (2) A CEA facility is valued for assessment purposes as all other agricultural property using the cost, market, and income approaches to value. (3) If the sole use of the CEA facility is not the growing of crops for human or livestock consumption, then the property is classified and valued for assessment purposes based on actual use. (4) As part of the personal declaration the owner of a CEA facility signs and returns to the county assessor pursuant to sections 39-5-107 and 39-5-108, the owner shall include an affidavit executed by the owner in which the owner affirms that the CEA facility meets the requirements of section 39-1-102 (3.3), including the requirements that the facility optimizes hydroponics and that the sole purpose of the CEA facility is to obtain a monetary profit from the wholesale of plant-based food for human or livestock consumption. If the crop grown in the CEA facility is hemp, the owner must also include a copy of a license to verify to the assessor that the crop is not marijuana. (5) Notwithstanding any other provision of law, a CEA facility shall not violate the terms and conditions of any applicable water court decree issued pursuant to article 92 of title 37 and shall not materially injure water rights or conditional water rights granted under article 92 of title 37. (6) This section is repealed, effective July 1, 2029.
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