C.R.S. § 39-22-516.8 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-516.8
39-22-516.8. Tax credit for innovative trucks - tax preference performance statement - legisl
Status: repealed

39-22-516.8. Tax credit for innovative trucks - tax preference performance statement - legislative declaration - definitions - repeal. (1) As used in this section, unless the context otherwise requires:

(a) (I) "Actual cost incurred" means the actual cost paid by the purchaser for a new or used truck or clean fuel refrigerated trailer, conversion of a truck or clean fuel refrigerated trailer, idling reduction technologies, or aerodynamic technologies, minus any credits, grants, or rebates, including federal credits, grants, or rebates for which the purchaser is eligible, but excluding the credit specified in this section.

(II) For purposes of a lease, "actual cost incurred" means the total of payments contracted in the lease for the truck minus:

(A) Any security deposit included in the total of payments;

(B) The rent charge included in the total of payments;

(C) Any sales tax included in the total of payments;

(D) Any titling and registration fees included in the total of payments;

(E) Any disposition fee included in the total of payments;

(F) Any administrative fee or any other fee that does not reflect the value of the truck included in the total of payments; and

(G) Any credits, grants, or rebates, including federal credits, grants, or rebates for which the lessee or lessor is eligible, but excluding the credit specified in this section.

(b) "Aerodynamic technologies" means a device on the United States environmental protection agency's smartway verified technology list that minimizes drag and improves air flow over a truck and trailer; except that "aerodynamic technologies" do not include tires.

(c) "Alternative fuel" has the meaning set forth in section 24-30-1104 (2)(c)(III)(A).

(d) "Battery capacity" means the quantity of electricity that a battery is capable of storing, expressed in kilowatt hours, as measured from a one hundred percent state of charge to a zero percent state of charge.

(e) "Bus" means a motor vehicle with a minimum seating capacity of thirty-three, including the driver.

(f) "Category 4" means original equipment manufacturer trucks that are equipped to operate on compressed natural gas or on liquefied petroleum gas. For purposes of this paragraph (f), "operate on compressed natural gas or on liquefied petroleum gas" means a truck that operates exclusively on compressed natural gas or on liquefied petroleum gas, or a bi-fuel truck with a multi-fuel engine capable of running on either compressed natural gas or traditional fuel, or on either liquefied petroleum gas or traditional fuel, or a dual-fuel truck with a multi-fuel engine capable of running on both compressed natural gas and traditional fuel, or on both liquefied petroleum gas and traditional fuel.

(g) "Category 4 A" means compressed natural gas or liquefied petroleum gas conversions certified by the United States environmental protection agency. For purposes of this paragraph (g), "compressed natural gas or liquefied petroleum gas conversions" means a conversion to a truck that operates exclusively on compressed natural gas or on liquefied petroleum gas, or a bi-fuel truck with a multi-fuel engine capable of running on either compressed natural gas or traditional fuel, or on either liquefied petroleum gas or traditional fuel, or a dual-fuel truck with a multi-fuel engine capable of running on both compressed natural gas and traditional fuel, or on both liquefied petroleum gas and traditional fuel.

(h) "Category 4 B" means original equipment manufacturer trucks that are equipped to operate on liquified natural gas. For purposes of this subsection (1)(h), "operate on liquified natural gas" means a truck that operates exclusively on liquified natural gas, or a bi-fuel truck with a multi-fuel engine capable of running on either liquified natural gas or traditional fuel, or a dual-fuel truck with a multi-fuel engine capable of running on both liquified natural gas and traditional fuel.

(i) "Category 4 C" means liquefied natural gas conversions certified by the United States environmental protection agency. For purposes of this subsection (1)(i), "liquefied natural gas conversions" means a conversion to a truck that operates exclusively on liquefied natural gas, or a bi-fuel truck with a multi-fuel engine capable of running on either liquefied natural gas or traditional fuel, or a dual-fuel truck with a multi-fuel engine capable of running on both liquified natural gas and traditional fuel.

(j) "Category 5" means the installation of any idling reduction technologies on or in a truck.

(k) "Category 6" means the installation of any aerodynamic technologies on or in a truck.

(l) "Category 7" means an original equipment manufacturer electric truck and plug-in hybrid electric truck.

(m) "Category 7 A" means a conversion of a truck to an electric truck or a plug-in hybrid electric truck.

(n) "Category 8" means a clean fuel refrigerated trailer.

(o) "Category 8 A" means a conversion of a refrigerated trailer to a clean fuel refrigerated trailer.

(p) "Category 9" means a hydraulic hybrid truck.

(q) "Clean fuel refrigerated trailer" means a trailer capable of being pulled by a truck with a gross vehicle weight rating greater than fourteen thousand pounds, with a power unit and fuel storage used for climate control that:

(I) (A) Is installed on the trailer by the original equipment manufacturer; or

(B) Is installed on the trailer through a conversion certified by the United States environmental protection agency; and

(II) Operates on either compressed natural gas, liquefied natural gas, liquefied petroleum gas, hydrogen, or electricity, or any combination thereof.

(q.5) "Department" means the department of revenue.

(r) "Electric truck" or "plug-in hybrid electric truck" means a truck that:

(I) Has a gross vehicle weight rating that exceeds eight thousand five hundred pounds;

(II) Has a maximum speed capability of at least fifty-five miles per hour; and

(III) Is propelled to a significant extent by:

(A) An electric motor that draws electricity from a battery that has a capacity of not less than four kilowatt hours and is capable of being recharged from an external source of electricity; or

(B) Power derived from one or more cells which convert chemical energy directly into electricity by combining oxygen with hydrogen fuel which is stored on board the vehicle in any form and may or may not require reformation prior to use.

(r.5) "Financing entity" means the entity that finances the purchase or lease of a category 4, category 4 A, category 4 B, category 4 C, category 7, category 7 A, or category 9 vehicle eligible for a credit allowed by this section.

(s) "Gross vehicle weight rating" or "GVWR" has the same meaning as set forth in section 42-2-402 (6), C.R.S.

(t) "Heavy-duty truck" means a truck with a gross vehicle weight rating greater than twenty-six thousand pounds.

(u) "Hybrid truck" means a truck with a hybrid propulsion system that operates on both electricity and an alternative fuel or traditional fuel.

(v) "Hydraulic hybrid truck" means the conversion of a truck with a gross vehicle weight rating of more than fourteen thousand pounds to a truck with a hybrid propulsion system that operates on both pressurized fluid and either compressed natural gas, liquified natural gas, liquified petroleum gas, hydrogen, electricity, or a traditional fuel; except that the converted hydraulic hybrid truck must increase the fuel economy of the original truck.

(w) "Idling reduction technologies" means idling reduction devices or advanced insulation, as those terms are defined in section 4053 of the internal revenue code, as amended, that are exempt from federal excise tax pursuant to said section 4053.

(x) "Light-duty electric truck" means an electric truck with a gross vehicle weight rating less than or equal to ten thousand pounds but does not include a light-duty passenger motor vehicle.

(y) "Light-duty passenger motor vehicle" means a private passenger motor vehicle, including vans, capable of seating twelve passengers or less; except that the term does not include motor homes as defined in section 42-1-102 (57), C.R.S., or motor vehicles designed to travel on three or fewer wheels in contact with the ground.

(z) "Light-duty truck" means a truck with a gross vehicle weight rating less than or equal to fourteen thousand pounds but does not include a light-duty passenger motor vehicle.

(aa) "Medium-duty electric truck" means an electric truck with a gross vehicle weight rating greater than ten thousand pounds and up to twenty-six thousand pounds.

(bb) "Medium-duty truck" means a truck with a gross vehicle weight rating greater than fourteen thousand pounds and up to twenty-six thousand pounds.

(bb.1) "Motor vehicle dealer" has the same meaning as set forth in section 44-20-102 (18).

(bb.3) (I) "Purchaser" means the buyer or the lessee of a category 4, category 4 A, category 4 B, category 4 C, category 7, category 7 A, or category 9 vehicle, but, for income tax years commencing before January 1, 2024, does not include the state or any political subdivision of the state. For tax years commencing on or after January 1, 2017, a lessee seeking to claim a credit allowed in this section must enter into a lease with a term of not less than two years.

(II) For income tax years commencing on or after January 1, 2024, "purchaser" includes a person or political subdivision of the state who is exempt from taxation under section 39-22-112 (1).

(cc) "Traditional fuel" means a petroleum-based motor fuel commonly used on the highways of the state in the year 2008.

(dd) "Trailer" has the same meaning as in section 42-1-102 (105), C.R.S.

(ee) (I) "Truck", for tax years commencing prior to January 1, 2017, has the same meaning as in section 42-1-102 (108), C.R.S., includes a hybrid truck, a light-duty passenger motor vehicle, and a bus, has a maximum speed capability of at least fifty-five miles per hour, is licensed or subject to licensing for operation upon the highways of the state, and is either:

(A) Titled and registered in the state; or

(B) Registered under the international registration plan and base plated in the state.

(II) "Truck", for tax years commencing on or after January 1, 2017, has the same meaning as in section 42-1-102 (108), C.R.S., and includes a hybrid truck, a light-duty passenger motor vehicle, and a bus, has a maximum speed capability of at least fifty-five miles per hour, is licensed or subject to licensing for operation upon the highways of the state, is new, not used, unless the truck is being converted, and is either:

(A) Titled and registered in the state; or

(B) Registered under the international registration plan and base plated in the state.

(1.5) (a) In accordance with section 39-21-304 (1), which requires each bill that extends an expiring 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, specifically the sale and purchase or lease of electric light-duty, medium-duty, or heavy-duty trucks, by providing a reduction in income tax liability to the purchaser or lessee or to a financing entity in connection with the sale and purchase or lease of an electric light-duty, medium-duty, or heavy-duty truck.

(b) The general assembly and the state auditor shall measure the effectiveness of the credit in achieving the purpose specified in subsection (1.5)(a) of this section based on the number and value of credits claimed.

(2) Category 4. (a) With respect to the income tax years commencing on or after January 1, 2014, but before January 1, 2017, there is allowed to any person a credit against the tax imposed by this article as a percentage set forth in paragraph (b) of this subsection (2) of the actual cost incurred by the taxpayer during the tax year for each purchase or lease of a category 4 truck, not to exceed the amount set forth in paragraph (b) of this subsection (2). For purposes of the income tax year commencing on or after January 1, 2014, but before January 1, 2015, the purchase or lease of a category 4 truck must occur on or after July 1, 2014, but before January 1, 2015.

(b) PLACE PDF INSERT HERE

(2.3) Category 4 purchase. (a) Except as provided in subsection (14) of this section, with respect to the income tax years commencing on or after January 1, 2017, but before January 1, 2022, there is allowed to any person a credit against the tax imposed by this article in an amount set forth in paragraph (b) of this subsection (2.3) for each purchase of a category 4 truck during the tax year.

(b) PLACE PDF INSERT HERE

(2.5) Category 4 lease. (a) Except as provided in subsection (14) of this section, with respect to the income tax years commencing on or after January 1, 2017, but before January 1, 2022, there is allowed to any person a credit against the tax imposed by this article in an amount set forth in paragraph (b) of this subsection (2.5) for each lease of a category 4 truck during the tax year.

(b) PLACE PDF INSERT HERE

(3) Category 4 A. (a) With respect to the income tax years commencing on or after January 1, 2014, but before January 1, 2017, there is allowed to any person a credit against the tax imposed by this article as a percentage set forth in paragraph (b) of this subsection (3) of the actual cost incurred by the taxpayer during the tax year for the conversion of a category 4 A truck, not to exceed the amount set forth in paragraph (b) of this subsection (3). For purposes of the income tax year commencing on or after January 1, 2014, but before January 1, 2015, the conversion of a category 4 A truck must occur on or after July 1, 2014, but before January 1, 2015.

(b) PLACE PDF INSERT HERE

(3.5) Category 4 A. (a) Except as provided in subsection (14) of this section, with respect to the income tax years commencing on or after January 1, 2017, but before January 1, 2022, there is allowed to any person a credit against the tax imposed by this article an amount set forth in paragraph (b) of this subsection (3.5) for the conversion of a category 4 A truck during the tax year.

(b) PLACE PDF INSERT HERE

(4) Category 4 B. (a) With respect to the income tax years commencing on or after January 1, 2014, but before January 1, 2017, there is allowed to any person a credit against the tax imposed by this article as a percentage set forth in paragraph (b) of this subsection (4) of the actual cost incurred by the taxpayer during the tax year for each purchase or lease of a category 4 B truck, not to exceed the amount set forth in paragraph (b) of this subsection (4). For purposes of the income tax year commencing on or after January 1, 2014, but before January 1, 2015, the purchase or lease of a category 4 B truck must occur on or after July 1, 2014, but before January 1, 2015.

(b) PLACE PDF INSERT HERE

(4.3) Category 4 B purchase. (a) Except as provided in subsection (14) of this section, with respect to the income tax years commencing on or after January 1, 2017, but before January 1, 2022, there is allowed to any person a credit against the tax imposed by this article an amount set forth in paragraph (b) of this subsection (4.3) for each purchase of a category 4 B truck during the tax year.

(b) PLACE PDF INSERT HERE

(4.5) Category 4 B lease. (a) Except as provided in subsection (14) of this section, with respect to the income tax years commencing on or after January 1, 2017, but before January 1, 2022, there is allowed to any person a credit against the tax imposed by this article an amount set forth in paragraph (b) of this subsection (4.5) for each lease of a category 4 B truck during the tax year.

(b) PLACE PDF INSERT HERE

(5) Category 4 C. (a) With respect to the income tax years commencing on or after January 1, 2014, but before January 1, 2017, there is allowed to any person a credit against the tax imposed by this article as a percentage set forth in paragraph (b) of this subsection (5) of the actual cost incurred by the taxpayer during the tax year for the conversion of a category 4 C truck, not to exceed the amount set forth in paragraph (b) of this subsection (5). For purposes of the income tax year commencing on or after January 1, 2014, but before January 1, 2015, the conversion of a category 4 C truck must occur on or after July 1, 2014, but before January 1, 2015.

(b) PLACE PDF INSERT HERE

(5.5) Category 4 C. (a) Except as provided in subsection (14) of this section, with respect to the income tax years commencing on or after January 1, 2017, but before January 1, 2022, there is allowed to any person a credit against the tax imposed by this article in the amount set forth in paragraph (b) of this subsection (5.5) for the conversion of a category 4 C truck during the tax year.

(b) PLACE PDF INSERT HERE

(6) Category 5. With respect to the income tax years commencing on or after January 1, 2015, but before January 1, 2022, there is allowed to any person a credit against the tax imposed by this article of twenty-five percent of the actual cost incurred by the taxpayer during a tax year for category 5, not to exceed six thousand dollars.

(7) Category 6. With respect to the income tax years commencing on or after January 1, 2014, but before January 1, 2022, there is allowed to any person a credit against the tax imposed by this article of twenty-five percent of the actual cost incurred by the taxpayer during a tax year for category 6, not to exceed six thousand dollars for each installed device and not to exceed fifty thousand dollars during a tax year for the installation of multiple devices. For purposes of the income tax year commencing on or after January 1, 2014, but before January 1, 2015, the installation must occur on or after July 1, 2014, but before January 1, 2015.

(8) Category 7. (a) With respect to the income tax years commencing on or after January 1, 2014, but before January 1, 2017, there is allowed to any person a credit against the tax imposed by this article as a percentage set forth in paragraph (b) of this subsection (8) of the actual cost incurred by the taxpayer during the tax year for each purchase or lease of a category 7 truck, not to exceed the amount set forth in paragraph (b) of this subsection (8). For purposes of the income tax year commencing on or after January 1, 2014, but before January 1, 2015, the purchase or lease of a category 7 truck must occur on or after July 1, 2014, but before January 1, 2015.

(b) PLACE PDF INSERT HERE

(8.3) Category 7 purchase. (a) Except as provided in subsection (14) of this section, with respect to the income tax years commencing on or after January 1, 2017, but before January 1, 2024, there is allowed to any person a credit against the tax imposed by this article 22 in an amount set forth in subsection (8.3)(b) of this section for each purchase of a category 7 truck during the tax year.

(b) PLACE PDF INSERT HERE

(8.5) Category 7 lease. (a) Except as provided in subsection (14) of this section, with respect to the income tax years commencing on or after January 1, 2017, but before January 1, 2024, there is allowed to any person a credit against the tax imposed by this article 22 in an amount set forth in subsection (8.5)(b) of this section for each lease of a category 7 truck during the tax year.

(b) PLACE PDF INSERT HERE

(8.7) (a) Category 7 light-duty passenger motor vehicle over 8,500 GVWR or light-duty electric truck lease or purchase for tax years 2024 through 2028. Except as otherwise provided in subsection (8.7)(d) of this section, with respect to income tax years commencing on or after January 1, 2024, but before January 1, 2029, for each purchase or lease of a category 7 light-duty passenger motor vehicle over 8,500 GVWR or a light-duty electric truck sold or leased during the tax year, there is allowed to any person a credit against the tax imposed by this article 22 in an amount as follows:

(I) For income tax years commencing on or after January 1, 2024, but before January 1, 2025, five thousand dollars;

(II) For income tax years commencing on or after January 1, 2025, but before January 1, 2026, three thousand five hundred dollars;

(III) For income tax years commencing on or after January 1, 2026, but before January 1, 2027, one thousand five hundred dollars;

(IV) For income tax years commencing on or after January 1, 2027, but before January 1, 2028, one thousand dollars; and

(V) For income tax years commencing on or after January 1, 2028, but before January 1, 2029, five hundred dollars.

(b) Category 7 medium-duty electric truck lease or purchase for tax years 2024 through 2032. With respect to income tax years commencing on or after January 1, 2024, but before January 1, 2033, for each purchase or lease of a category 7 medium-duty electric truck sold or leased during the tax year, there is allowed to any person a credit against the tax imposed by this article 22 in an amount as follows:

(I) For income tax years commencing on or after January 1, 2024, but before January 1, 2026, twelve thousand dollars; and

(II) For income tax years commencing on or after January 1, 2026, but before January 1, 2033, four thousand dollars.

(c) Category 7 heavy-duty truck lease or purchase for tax years 2024 through 2032. With respect to income tax years commencing on or after January 1, 2024, but before January 1, 2033, for each purchase or lease of a category 7 heavy-duty truck sold or leased during the tax year, there is allowed to any person a credit against the tax imposed by this article 22 in an amount as follows:

(I) For income tax years commencing on or after January 1, 2024, but before January 1, 2026, twelve thousand dollars; and

(II) For income tax years commencing on or after January 1, 2026, but before January 1, 2033, eight thousand dollars.

(d) If the June 2025 revenue forecast, and each June revenue forecast through the June 2027 revenue forecast as prepared by either legislative council staff or the office of state planning and budgeting, projects that state revenues, as defined in section 24-77-103.6 (6)(c), will not increase by at least four percent for the next fiscal year, the amount of the credit allowed pursuant to subsection (8.7)(a)(III), (8.7)(a)(IV), or (8.7)(a)(V) of this section for any tax year commencing in the calendar year that begins during said next fiscal year is reduced by fifty percent; except that if the amount of reduced credit is equal to or less than five hundred dollars, then no credit is available for such a tax year.

(9) Category 7 A. (a) With respect to the income tax years commencing on or after January 1, 2014, but before January 1, 2017, there is allowed to any person a credit against the tax imposed by this article as a percentage set forth in paragraph (b) of this subsection (9) of the actual cost incurred by the taxpayer during the tax year for the conversion of a category 7 A truck, not to exceed the amount set forth in paragraph (b) of this subsection (9). For purposes of the income tax year commencing on or after January 1, 2014, but before January 1, 2015, the conversion of a category 7 A truck must occur on or after July 1, 2014, but before January 1, 2015.

(b) PLACE PDF INSERT HERE

(9.5) Category 7 A. (a) Except as provided in subsection (14) of this section, with respect to the income tax years commencing on or after January 1, 2017, but before January 1, 2022, there is allowed to any person a credit against the tax imposed by this article in an amount set forth in paragraph (b) of this subsection (9.5) for the conversion of a category 7 A truck during the tax year.

(b) PLACE PDF INSERT HERE

(10) Category 8. (a) With respect to the income tax years commencing on or after January 1, 2014, but before January 1, 2022, there is allowed to any person a credit against the tax imposed by this article as a percentage set forth in paragraph (b) of this subsection (10) of the actual cost incurred by the taxpayer during the tax year for each purchase or lease of a category 8 trailer, not to exceed the amount set forth in paragraph (b) of this subsection (10). For purposes of the income tax year commencing on or after January 1, 2014, but before January 1, 2015, the purchase or lease of a category 8 trailer must occur on or after July 1, 2014, but before January 1, 2015.

(b) PLACE PDF INSERT HERE

(11) Category 8 A. (a) With respect to the income tax years commencing on or after January 1, 2014, but before January 1, 2022, there is allowed to any person a credit against the tax imposed by this article as a percentage set forth in paragraph (b) of this subsection (11) of the actual cost incurred by the taxpayer during the tax year for the conversion of a refrigerated trailer to a category 8 A trailer, not to exceed the amount set forth in paragraph (b) of this subsection (11). For purposes of the income tax year commencing on or after January 1, 2014, but before January 1, 2015, the conversion of a refrigerated trailer to a category 8 A trailer must occur on or after July 1, 2014, but before January 1, 2015.

(b) PLACE PDF INSERT HERE

(11.5) Category 9. (a) With respect to the income tax years commencing on or after January 1, 2014, but before January 1, 2017, there is allowed to any person a credit against the tax imposed by this article as a percentage set forth in paragraph (b) of this subsection (11.5) of the actual cost incurred by the taxpayer during the tax year for the conversion of a category 9 truck, not to exceed the amount set forth in paragraph (b) of this subsection (11.5).

(b) PLACE PDF INSERT HERE

(11.6) Category 9. (a) Except as otherwise provided in subsection (14) of this section, with respect to the income tax years commencing on or after January 1, 2017, but before January 1, 2022, there is allowed to any person a credit against the tax imposed by this article in an amount set forth in paragraph (b) of this subsection (11.6) for the conversion of a category 9 truck during the tax year.

(b) PLACE PDF INSERT HERE

(12) A taxpayer claiming the credit authorized by this section shall not claim the credit in an amount that exceeds the incremental cost of the actual cost incurred for the category 4, 4 A, 4 B, 4 C, 7, or 7 A truck or motor vehicle over the manufacturer's suggested retail price of a comparable traditional fuel truck or light-duty passenger motor vehicle.

(13) If a credit authorized in this section exceeds the income tax due on the income of the taxpayer for the taxable year, the excess credit may not be carried forward and must be refunded to the taxpayer.

(13.5) (a) A purchaser may assign the tax credit allowed in this section for the purchase or lease of a category 4, category 4 A, category 4 B, category 4 C, category 7, category 7 A, or category 9 vehicle completed on or after January 1, 2017, but before January 1, 2024, to a financing entity as follows:

(I) The assignment to the financing entity must be completed at the time of purchase or lease by entering into an election statement as set forth in paragraph (c) of this subsection (13.5);

(II) The purchaser must title and register the vehicle in the state or register the vehicle under the international registration plan and base plate the vehicle in the state as required by state law;

(III) The purchaser must assign the tax credit to the financing entity and forfeit the right to claim the tax credit on the purchaser's tax return in exchange for good and valuable consideration; and

(IV) The financing entity shall compensate the purchaser for the full nominal value of the tax credit; except that the financing entity may collect an administrative fee not to exceed one hundred fifty dollars for processing the assignment. The compensation paid to the purchaser is considered a refund of state taxes and is not income.

(b) Notwithstanding section 39-21-108 (3), if a purchaser assigns the tax credit to a financing entity pursuant to this subsection (13.5), the financing entity receives the full amount of the tax credit that the purchaser is allowed in this section. Any unpaid balance or unpaid debt of the purchaser may not be credited from the amount of the tax credit allowed in this section.

(c) To complete the tax credit assignment, the purchaser and the financing entity must enter into an election statement that must:

(I) Identify the vehicle identification number of the category 4, category 4 A, category 4 B, category 4 C, category 7, category 7 A, or category 9 vehicle for which a credit is allowed in this section; and

(II) Affirm that the requirements specified in paragraph (a) of this subsection (13.5) were met.

(d) The financing entity may authorize an agent or a designee to sign the election statement on its behalf.

(e) The financing entity shall electronically submit a report containing the information contained in the election statement described in paragraph (c) of this subsection (13.5) to the department of revenue within thirty days of the purchase or lease of a category 4, category 4 A, category 4 B, category 4 C, category 7, category 7 A, or category 9 vehicle in such a form and in such a manner as required by the department.

(f) The financing entity shall also file the election statement described in paragraph (c) of this subsection (13.5) with the original tax return for the taxable year in which the category 4, category 4 A, category 4 B, category 4 C, category 7, category 7 A, or category 9 vehicle is purchased or leased.

(g) The department of revenue, in consultation with the Colorado energy office created in section 24-38.5-101, C.R.S., shall develop a model report and election statement no later than December 1, 2016.

(h) This subsection (13.5) is repealed, effective December 31, 2028.

(13.7) (a) A purchaser may assign the tax credit allowed in this section for the purchase or lease of a category 7 vehicle sold or leased on or after January 1, 2024, to a financing entity or to a motor vehicle dealer as follows:

(I) The assignment to the financing entity or the motor vehicle dealer must be completed at the time of purchase or lease by entering into an election statement as set forth in subsection (13.7)(c) of this section;

(II) The purchaser must title and register the vehicle in the state or register the vehicle under the international registration plan and base plate the vehicle in the state as required by state law;

(III) The purchaser must assign the tax credit to the financing entity or the motor vehicle dealer and forfeit the right to claim the tax credit on the purchaser's tax return in exchange for the good and valuable consideration; and

(IV) The financing entity or the motor vehicle dealer shall compensate the purchaser for the full nominal value of the tax credit; except that the financing entity or the motor vehicle dealer may collect an administrative fee not to exceed two hundred fifty dollars for processing the assignment. The compensation paid to the purchaser is considered a refund of state taxes and is not income.

(b) Notwithstanding section 39-21-108 (3), if a purchaser assigns the tax credit to a financing entity or to a motor vehicle dealer pursuant to this subsection (13.7), the financing entity or the motor vehicle dealer receives the full amount of the tax credit that the purchaser is allowed in this section. Any unpaid balance or unpaid debt of the purchaser may not be credited from the amount of the tax credit allowed in this section.

(c) To complete the tax credit assignment, the purchaser and the financing entity or the motor vehicle dealer shall enter into an election statement that:

(I) Identifies the vehicle identification number of the category 7 vehicle for which a credit is allowed in this section;

(II) Specifies the value of the credit allowed; and

(III) Affirms that the requirements specified in subsection (13.7)(a) of this section were met.

(d) The financing entity or the motor vehicle dealer may authorize an agent or a designee to sign the election statement on its behalf.

(e) For the purchase or lease of a category 7 vehicle completed on or after January 1, 2024, the financing entity or the motor vehicle dealer shall electronically submit a report containing the information contained in the election statement described in subsection (13.7)(c) of this section to the department on a quarterly basis in a form and manner required by the department.

(f) The financing entity or the motor vehicle dealer shall maintain the election statement described in subsection (13.7)(c) of this section and produce it upon request or audit by the department.

(g) For income tax years commencing on or after January 1, 2025, the financing entity or motor vehicle dealer may elect advance payments of credits assigned under this subsection (13.7) as specified in section 39-22-629.

(14) (a) During the calendar year ending December 31, 2018, the Colorado energy office created in section 24-38.5-101, C.R.S., shall determine whether category 4, 4 A, 4 B, 4 C, 7, 7 A, or 9 medium- or heavy-duty trucks generate life-cycle emissions materially greater than comparable medium- or heavy-duty trucks using traditional fuel. Such a life-cycle analysis must include the direct emissions regulated by the United States environmental protection agency or by the department of public health and environment that are associated with producing, transporting, and using the alternative or traditional fuels. The Colorado energy office shall consider the likely adoption of future technology at each stage of the life-cycle.

(b) In making the determinations described in paragraph (a) of this subsection (14), the Colorado energy office shall consider public input, any analysis or reports prepared by the department of public health and environment, other states, or the United States environmental protection agency, and any peer-reviewed studies conducted in the United States that evaluate similar matters.

(c) In the event that category 4, 4 A, 4 B, 4 C, 7, 7 A, or 9 medium- or heavy-duty trucks are shown to generate life-cycle emissions materially greater than comparable traditional fuel trucks, then the Colorado energy office shall notify the department of revenue that no tax credit specified in this section is available for such trucks for the income tax years commencing on or after January 1, 2019, but before January 1, 2022; except that the Colorado energy office may determine if a particular category 4, 4 A, 4 B, 4 C, 7, 7 A, or 9 truck model or engine does not generate life-cycle emissions materially greater than a comparable traditional fuel truck model or engine and is thus allowed a credit for a given income tax year, or the Colorado energy office may allow a credit if the taxpayer can demonstrate that the taxpayer has a long-term fuel contract for his or her category 4, 4 A, 4 B, 4 C, 7, 7 A, or 9 truck from a green fuel provider, such that the life-cycle emissions from such truck are not materially greater than the emissions of a comparable traditional fuel truck. For purposes of this paragraph (c), "green fuel provider" means the alternative fuel is produced and delivered by providers that have adopted best practices for low life-cycle emissions. On or before January 1, 2019, and on or before each January 1 thereafter through January 1, 2021, the Colorado energy office and the department of revenue shall, through their respective websites, specify which category 4, 4 A, 4 B, 4 C, 7, 7 A, or 9 medium- or heavy-duty trucks are not allowed a credit for a given income tax year.

(15) No more than one tax credit shall be granted pursuant to this section and section 39-22-516.7 for any individual motor vehicle or truck.

(16) With respect to tax years commencing on or after January 1, 2017, the taxpayer claiming a credit allowed in this section shall provide the department of revenue with, and the department shall commence tracking, the vehicle identification number of the motor vehicle or truck for which a credit is claimed as allowed in this section.

(17) Making the purchaser aware of the income tax credit allowed in this section or helping the purchaser assign the income tax credit to a financing entity as allowed in this section does not rise to the level of providing the purchaser with unauthorized tax advice.

(17.5) A purchaser, as set forth in subsection (1)(bb.3)(II) of this section, who claims the credit allowed by this section shall file a return pursuant to section 39-22-601 (7)(b).

(18) This section is repealed, effective December 31, 2037.
C.R.S. § 39-3-104 — CO Code / Title 39 / Article 3 / Part 1 / Section 39-3-104
39-3-104. Ditches, canals, and flumes - exemption
Status: in_force

39-3-104. Ditches, canals, and flumes - exemption. Ditches, canals, and flumes which are owned and used by any person exclusively for irrigating land owned by such person shall be exempt from the levy and collection of property tax.
C.R.S. § 39-11.5-109 — CO Code / Title 39 / Article 11.5 / Section 39-11.5-109
39-11.5-109. Treatment of an overbid
Status: in_force

39-11.5-109. Treatment of an overbid. (1) (a) Any overbid must be paid in order of recording priority to junior lienors, determined as of the recording date of the application for public auction according to the records, who have duly filed a notice of intent to redeem and whose liens have not been redeemed, in each case up to the unpaid amount of each such lienor's lien plus fees and costs. After payment to all lienors, any remaining overbid shall be paid to the property owner.

(b) A lienor or lawful holder that is not entitled to redeem by virtue of holding a lien that is recorded after the application for public auction or by not timely filing a notice of intent to redeem pursuant to section 39-11.5-111 or 39-11.5-113 does not have any claim to any portion of the overbid. A lawful holder who accepts less than a full redemption pursuant to section 39-11.5-111 (4)(c) also does not have any claim to any portion of the overbid.

(c) The treasurer shall only redeem the property to a lawful holder. The treasurer may issue overbid funds to lienors who comply with the requirements of this article 11.5, but shall not redeem the property to those lienors.

(2) (a) The treasurer shall post the following statement on the treasurer's office website:

NOTICE TO A PROPERTY OWNER OF A PROPERTY FOR WHICH THE OPTION FOR TREASURER'S DEED HAS BEEN SOLD AT PUBLIC AUCTION: If the option for a treasurer's deed for your property is sold at a public auction for more than the total owed to the lawful holder of a tax lien on your property and to all other lien holders, please contact the treasurer's office after the auction because you may have funds due to you.

(b) In order to pay the property owner as required pursuant to subsection (1) of this section, a treasurer shall mail the property owner a notice regarding the remaining overbid to the best available address no later than thirty calendar days after the conclusion of the public auction. If the amount of the remaining overbid is equal to or greater than twenty-five dollars, the treasurer shall make reasonable efforts to identify the property owner's current address.

(c) An agreement to pay compensation to recover or assist in recovering an amount due to the property owner from the treasurer under subsection (1) of this section is not enforceable. A person who induces or attempts to induce another person to enter into such an agreement commits a class 2 misdemeanor.

(3) (a) The treasurer shall hold any unclaimed remaining overbid from the public auction in escrow for six months from the date of the public auction. The treasurer is answerable for these funds without interest at any time within six months after the public auction to any person legally entitled to the funds. The treasurer shall pay any interest earned on the escrowed funds to the county at least annually.

(b) Unclaimed remaining overbids that are not claimed within six months from the date of the sale are unclaimed property for purposes of the "Revised Uniform Unclaimed Property Act", article 13 of title 38. The treasurer shall transfer these unclaimed remaining overbids to the administrator in accordance with article 13 of title 38.

(c) After the treasurer transfers the unclaimed remaining overbids to the administrator or to the general fund of the county, the treasurer is discharged from any further liability or responsibility for the money.
C.R.S. § 39-22-569 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-569
39-22-569. Community revitalization tax credit - community revitalization tax credit progra
Status: repealed

39-22-569. Community revitalization tax credit - community revitalization tax credit program cash fund - tax preference performance statement - legislative declaration - definitions - report - repeal. (1) Tax preference performance statement. 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:

(a) The general legislative purposes of the tax credit allowed by this section are:

(I) To induce certain designated behavior by taxpayers; and

(II) To provide tax relief for certain businesses or individuals;

(b) The specific legislative purpose of the tax credit allowed by this section is to revitalize communities by providing financial support and a financial incentive for capital improvement projects in creative districts that support creative industries and creative industry workers by providing affordable housing and live-work spaces for such workers and other mixed-use and creative-use spaces for both such workers and the general public that enjoys and benefits from their work.

(c) The general assembly and the state auditor shall measure the effectiveness of the tax credit in achieving the purposes specified in subsections (2)(a) and (2)(b) of this section based on the information required to be maintained by and reported by the office pursuant to subsection (11) of this section.

(2) Definitions. As used in this section, unless the context otherwise requires:

(a) "Application" means an application in the form and manner approved by the office for the credit allowed in this section that includes the project plan and estimated eligible expenditures.

(b) "Creative district" has the same meaning as set forth in section 24-48.5-314 (2)(b).

(c) "Department" means the department of revenue.

(d) "Eligible expenditures" means reasonable and necessary expenditures, in accordance with guidelines developed by the office, actually paid by a taxpayer in completing an eligible project.

(e) "Eligible project" means a capital improvement project undertaken in the state within a creative district, a historic district, or a neighborhood commercial center or on a main street that involves the construction, rehabilitation, conversion, remodeling, or other improvement of one or more buildings, structures, or facilities for uses that support creative industries and creative industry workers, including affordable housing and live-work spaces for such workers and other mixed-use, creative-use, performance, and exhibition spaces for such workers and for the general public and that is approved by the office in accordance with the policies, procedures, and guidelines for the implementation and administration of the tax credit allowed by this section adopted by the office pursuant to subsection (12) of this section.

(f) "Office" means the office of economic development.

(g) (I) "Qualified applicant" means a person that:

(A) Has a contractual or real property interest in an existing or planned building, structure, or facility that is to be constructed, rehabilitated, converted, remodeled, or otherwise improved through the completion of an eligible project; and

(B) Makes eligible expenditures.

(II) A qualified applicant may be a person subject to tax pursuant to this article 22 or a person or political subdivision of the state that is exempt from such taxation pursuant to section 39-22-112 (1).

(3) Credit allowed. (a) For income tax years commencing on or after January 1, 2026, but prior to January 1, 2033, a qualified applicant is allowed a credit against the income taxes imposed by this article 22 for placing an eligible project in service in an amount specified on the credit certificate issued by the office pursuant to subsection (7) of this section.

(b) In order to claim the credit allowed pursuant to this section, the qualified applicant must submit an application as specified in subsection (4) of this section, place the eligible project in service prior to January 1, 2033, obtain a tax credit certificate from the office as specified in subsection (7) of this section, and, once issued by the office, file the tax credit certificate with the qualified applicant's income tax return as specified in subsection (8) of this section.

(4) Application submission and review. (a) An applicant may submit an application to the office on or after January 1, 2025, but no later than October 3, 2029.

(b) The office shall review all submitted applications to:

(I) Determine whether the applicant is a qualified applicant;

(II) Determine whether the application is complete and includes a property address, legal description, or other specific location identifier;

(III) Make a preliminary determination whether the project plan is a plan for an eligible project based on the policies and procedures developed by the office pursuant to subsection (12) of this section;

(IV) Determine whether the eligible project is entitled to a tax credit reservation as specified in subsection (6) of this section;

(V) Once the eligible project is placed in service, make a final determination whether the project is an eligible project based on the policies and procedures developed by the office pursuant to subsection (12) of this section; and

(VI) If the project is an eligible project, review the certified eligible expenditures and, if approved, issue a credit certificate to the qualified applicant, as specified in subsection (7) of this section.

(c) The office shall make the determinations specified in subsections (4)(b)(I) to (4)(b)(V) of this section within ninety days of the date the office receives the application.

(d) (I) If the office determines that an application is incomplete or that it is unable to make the determinations specified in subsections (4)(b)(I) to (4)(b)(V) of this section, the office shall notify the applicant in writing of the office's decision and shall remove the application from the review process.

(II) If an applicant resubmits an application, the office may charge a new application fee in an amount specified in subsection (5) of this section.

(5) Application and issuance fees. (a) (I) For an application for which the amount of the tax credit requested by an applicant pursuant to this section is two hundred fifty thousand dollars or more, the office may impose a reasonable application fee on an applicant that does not exceed five hundred dollars.

(II) For an application for which the amount of the tax credit requested by an applicant pursuant to this section is less than two hundred fifty thousand dollars, the office may impose a reasonable application fee on an applicant that does not exceed two hundred dollars.

(b) The office may impose on a qualified applicant a reasonable issuance fee of up to three percent of the amount of the tax credit specified on the tax credit certificate issued by the office as specified in subsection (7) of this section, which must be paid before the tax credit certificate is issued to the qualified applicant.

(c) Any fee revenue collected pursuant to this subsection (5) must be credited to the community revitalization tax credit program cash fund created in subsection (13) of this section and applied to the administration of the tax credit created by this section.

(6) Tax credit reservation. (a) Based on the factors specified in subsection (6)(d) of this section, the office may determine that a qualified applicant is entitled to a tax credit reservation in accordance with the provisions of this section. The office shall issue tax credit reservations subject to the limitations set forth in this subsection (6) and in accordance with the policies and procedures established pursuant to subsection (12) of this section. The office shall not issue tax credit reservations after January 1, 2030.

(b) If the office reserves a tax credit for the benefit of a qualified applicant, the office shall notify the qualified applicant in writing of the reservation and the amount reserved. The reservation of a tax credit by the office for a qualified applicant does not entitle the qualified applicant to issuance of a credit certificate until the qualified applicant complies with all the other requirements specified in this section for the issuance of the tax credit. When the office approves a tax credit reservation, the office may also impose additional requirements, which a qualified applicant shall satisfy as part of completing the eligible project, before a tax credit certificate is issued to the qualified applicant.

(c) (I) Subject to the limitations in this subsection (6)(c), if approved, the office may issue a tax credit reservation to a qualified applicant for a single eligible project in an amount equal to the lesser of twenty-five percent of the qualified applicant's estimated eligible expenditures or three million dollars.

(II) Except as provided in subsections (6)(c)(III) and (6)(c)(IV) of this section, the aggregate amount of all tax credit reservations that the office may issue pursuant to this section must not exceed ten million dollars in any calendar year plus the amount of any previously issued tax credit reservations that were rescinded pursuant to subsection (7)(a)(II) of this section from previous calendar years.

(III) If the office's issuance of a tax credit reservation in a calendar year would cause the office to exceed the aggregate limit specified in subsection (6)(c)(II) of this section for that calendar year, then the aggregate amount of all tax credit reservations that the office may issue in the following calendar year is decreased by the amount of the tax credit reservations issued in the previous calendar year that exceeded the limitation set forth in subsection (6)(c)(II) of this section.

(IV) If the office's issuance of tax credit reservations by the end of a calendar year is less than the aggregate limit specified in subsection (6)(c)(II) of this section for that calendar year, then the aggregate amount of tax credit reservations that the office may issue in the next calendar year is increased by the unreserved amount from the previous calendar year.

(d) In making the final determination of which project plans to issue tax reservations for pursuant to this subsection (6), the office may prioritize eligible project plans in accordance with:

(I) The number of new affordable housing units to be created by the eligible project;

(II) The number of live-work spaces to be created by the eligible project;

(III) The geographic diversity of the applications and project plans that qualified applicants have submitted to the office;

(IV) The quality and accessibility of makerspace to be provided for creative industry workers by the eligible project;

(V) Demonstration of community engagement in identifying how the project will satisfy unmet needs and drive the local creative economy;

(VI) Demonstration of strong evidence that the eligible project has or can attract diverse sources of funding and broad local government support;

(VII) Demonstration of how the project serves rural, under-resourced, or underserved communities;

(VIII) Whether the project plan is receiving property tax abatements, credits, rebates, grants, or other incentives from a local taxing jurisdiction;

(IX) Whether the project will occur without the issuance of a tax credit pursuant to this section;

(X) Whether the qualified applicant will receive a federal incentive for the project;

(XI) The proximity of the project to public transportation; and

(XII) The expected qualification of the building, structure, or facility that is the subject of the eligible project for a certifiable sustainable program both before and after the completion of the project.

(7) Deadline for incurring specified amount of estimated eligible expenditures - proof of compliance - audit of eligible expenditure certification - issuance of tax credit certificate. (a) (I) A qualified applicant receiving a reservation of tax credits pursuant to subsection (6) of this section shall incur twenty percent or more of the estimated eligible expenditures contained in the application and project plan not later than eighteen months after the date of issuance of the written notice from the office to the qualified applicant granting the reservation of a tax credit.

(II) A qualified applicant for whom the office has reserved a tax credit shall submit evidence of compliance with the provisions of subsection (7)(a)(I) of this section. If the office determines that a qualified applicant has failed to comply with the requirements of subsection (7)(a)(I) of this section, the office shall promptly notify the qualified applicant and may rescind the issuance of the written notice it previously gave the qualified applicant granting the reservation of a tax credit. If the office so rescinds an issuance of the written notice, the qualified applicant may submit a new application, project plan, and estimate of eligible expenditures for which the office may charge a new application fee in accordance with subsection (5) of this section, and the total amount of tax credits made available for reservation in the calendar year during which the office rescinds the issuance of written notice must increase by the amount of the tax credit reserved in the written notice.

(b) After a qualified applicant completes a project, the qualified applicant shall notify the office that the project has been placed in service and shall certify the eligible expenditures, after which the office shall make a final determination whether the project is an eligible project as required in subsection (4)(b)(V) of this section. The applicant shall include a review of the certification by a licensed certified public accountant that is not affiliated with the qualified applicant that aligns with office policies for certification of eligible expenditures. The applicant shall also certify and provide documents demonstrating that the applicant satisfied any additional requirements imposed by the office pursuant to subsection (6) of this section. Within ninety days after receipt of such documentation from the qualified applicant, the office shall review the qualified applicant's documentation of certified eligible expenditures, determine whether the documentation satisfies the project plan and other requirements, and, if the office determines that the documentation satisfies the project plan and other requirements, the office shall issue a tax credit certificate in the amount specified in the tax credit reservation issued to the qualified applicant pursuant to subsection (6) of this section; except that a credit certificate may not be issued for any income tax year commencing before January 1, 2026.

(c) If there are any unreserved amounts of tax credits available under subsection (6) of this section, and if the amount of certified eligible expenditures incurred by the qualified applicant would have resulted in the qualified applicant being issued a tax credit certificate that exceeds the amount of the tax credit reservation issued to the qualified applicant, the qualified applicant may apply to the office for the issuance of an additional tax credit certificate in an amount equal to the difference between the tax credit reservation and what would have been issued as a result of the certified eligible expenditures by submitting an application in a form and manner determined by the office; except that the aggregate of the two tax credit certificates for the eligible project may not exceed three million dollars. The office shall review the application as specified in subsection (4) of this section and, if approved, shall issue a separate tax credit certificate awarding the qualified applicant the additional credit.

(8) Filing tax credit certificate with income tax return. (a) In order to claim the credit authorized by this section, a qualified applicant shall file the tax credit certificate issued by the office pursuant to subsection (7) of this section with the qualified applicant's state income tax return. If the qualified applicant is exempt from tax pursuant to section 39-22-112 (1), the qualified applicant shall file a return pursuant to section 39-22-601 (7)(b). The amount of the tax credit that a qualified applicant may claim pursuant to this section is the amount stated on the tax credit certificate.

(b) A tax credit certificate issued to a partnership, a limited liability company taxed as a partnership, or multiple owners of a property must be passed through to the partners, members, or owners, including any nonprofit entity that is a partner, member, or owner, respectively, on a pro rata basis or pursuant to an executed agreement among the partners, members, or owners documenting an alternate distribution method.

(9) Refundability. The entire tax credit to be issued pursuant to this section may be claimed by the qualified applicant in the taxable year in which the eligible project is placed in service. If the amount of the credit allowed pursuant to this section exceeds the amount of income taxes otherwise due on the income of the qualified applicant in the income tax year for which the credit is being claimed, or the qualified applicant is a person who is exempt from taxation pursuant to section 39-22-112 (1), ninety percent of the amount of the credit not used as an offset against income taxes in the income tax year is refunded to the qualified applicant. The remainder of the credit is not carried forward and may not be used by the taxpayer.

(10) Compliance monitoring and recapture. (a) Except as provided in subsection (10)(b) of this section, if, as of the last day of any taxable year during the compliance period, the building, structure, or facility that is the subject of an eligible project is not being used as an eligible project, the office shall notify the qualified applicant and the department that the credit allowed in this section is disallowed. The qualified applicant shall add the full amount of the credit that was actually used to offset the qualified applicant's income tax or refunded to the qualified applicant to its return as a recaptured credit for the taxable year in which the credit is disallowed pursuant to this subsection (10).

(b) The potential increase in tax required pursuant to subsection (10)(a) of this section does not apply:

(I) If a building, structure, or facility is not an eligible project as a result of a casualty loss if the loss is restored by reconstruction or replacement within a reasonable period established by the office; or

(II) Solely by reason of the disposition of a building, structure, or facility, or an interest therein, if it is reasonably expected that the building, structure, or facility will continue to be operated as an eligible project for the remainder of the compliance period.

(c) (I) The office shall establish reporting requirements to monitor compliance with this subsection (10), including requirements regarding the reporting of a disposition of a building, structure, or facility by the qualified applicant and the reporting required for such a building, structure, or facility for the remainder of the compliance period.

(II) If a dispute arises about whether a building, structure, or facility is an eligible project, the office shall adjudicate the dispute and notify the department of the resolution.

(III) Notwithstanding section 39-21-107 (2), if a building, structure, or facility, or an interest therein, is disposed of during any taxable year during the compliance period, and thereafter the building, structure, or facility is not an eligible project:

(A) The qualified applicant shall add the full amount of the credit to its return as a recaptured credit for the taxable year in which the credit is disallowed pursuant to this subsection (10) notwithstanding the disposition of the qualified residential structure;

(B) The statutory period for the assessment of any deficiency with respect to the disallowed credit must not expire before the expiration of three years from the date the office is notified, in such a manner as the office determines, that the structure is not a qualified residential structure; and

(C) The department shall assess any deficiency before the expiration of such three-year period together with any applicable interest and penalty imposed pursuant to this article 22.

(d) As used in this subsection (10), unless the context otherwise requires, "compliance period" means the period of fifteen years following the taxable year in which the qualified applicant placed the eligible project in service.

(11) Reporting. (a) No later than December 31, 2027, and, notwithstanding the requirement in section 24-1-136 (11)(a)(I), no later than December 31 of each year thereafter through 2033, the office shall provide a written report to the general assembly and shall further make the report available to the public. In connection with tax credits issued pursuant to this section, the report must include:

(I) The number of eligible projects placed in service;

(II) A description of the use or uses of each eligible project and a statewide summary of the number of eligible projects for each use;

(III) For eligible projects that create affordable housing or live-work spaces for creative industry workers, the number of affordable housing or live-work units planned or created;

(IV) The occupancy rate of created affordable housing and live-work units;

(V) The counties in which qualified commercial structures were converted to qualified commercial residential structures; and

(VI) The amount of any disallowed tax credit recaptured pursuant to subsection (10) of this section.

(b) The office shall, in a sufficiently timely manner to allow the department to process returns claiming the income tax credit allowed in this section, provide the department with an electronic report of each qualified applicant to which the office issues a tax credit certificate for the preceding tax year that includes the following information:

(I) The qualified applicant's name;

(II) The amount of the credit; and

(III) The qualified applicant's social security number or the qualified applicant's Colorado account number and federal employer identification number.

(12) Policies and procedures. (a) The office may create and modify policies, procedures, and guidelines as necessary to further implement the tax credits to be claimed for the completion of eligible projects pursuant to this section and shall solicit advice from the department in creating and modifying such policies, procedures, and guidelines.

(b) With respect to making the preliminary determination whether a project plan is a plan for an eligible project pursuant to subsection (4)(b)(III) of this section, the office shall develop standards that include, but are not limited to:

(I) A detailed cost estimate for the project plan;

(II) Evidence of site control of the site where the project will occur; and

(III) The financing or funding that is available for the project plan.

(13) Community revitalization tax credit program cash fund. (a) The community revitalization tax credit program cash fund is created in the state treasury. The fund consists of gifts, grants, donations, fee revenue credited to the fund pursuant to subsection (5) of this section, and any other money that the general assembly may appropriate, transfer, or require by law to be credited to the fund.

(b) The state treasurer shall credit all interest and income derived from the deposit and investment of money in the community revitalization tax credit program cash fund to the fund.

(c) Money in the fund is continuously appropriated to the office for the purpose of administering the tax credit issued pursuant to this section.

(d) The state treasurer shall transfer all unexpended and unencumbered money in the fund on December 31, 2050, to the general fund.

(14) Repeal. This section is repealed, effective December 31, 2050.
C.R.S. § 39-30.5-107 — CO Code / Title 39 / Article 30.5 / Section 39-30.5-107
39-30.5-107. Rural jump-start zone reporting requirements
Status: in_force

39-30.5-107. Rural jump-start zone reporting requirements. (1) The commission shall annually post on the Colorado office of economic development's website, and include in the commission's annual report required to be presented to the general assembly pursuant to section 24-46-104 (2), the following information regarding any rural jump-start zone program benefits allowed under this article 30.5:

(a) The distressed county and interested municipalities that make up each rural jump-start zone, the number of approved rural jump-start zones, the distribution of new businesses across rural jump-start zones, and the number of rural jump-start zones that have graduated from the rural jump-start zone program, including a comparison of such numbers before and after the rural jump-start program renewal in 2020;

(a.5) Information regarding the tier one transition communities that are a part of any rural jump-start zones;

(b) The state institution of higher education or economic development organization that submitted the application;

(c) The name, type, and active or inactive status of each approved new business, including whether the new business is in an advanced industry as defined in section 24-48.5-117 (2)(a), and a comparison of the total number of approved and active new businesses over time;

(d) Evidence of any ancillary economic development occurring in any rural jump-start zone as a result of the rural jump-start program;

(e) The tax year for which the first credit certificate is issued or the date the sales and use tax refund is authorized;

(f) The number of new hires hired and the number of individuals hired by a new business that do not meet the new hire definition specified in section 39-30.5-103 (8);

(g) The average salary or hourly wage of each new hire;

(h) An estimated amount, as calculated by the new business, of the income tax credits for the new business and any new hires and the sales and use tax refunds allowed in section 39-30.5-105, and an estimated amount, as calculated by the new business, of incentive payments, exemptions, or refunds provided by local governments as allowed in section 39-30.5-106;

(h.5) The types of grants, grant amounts, and information regarding grant recipients for all grants awarded under section 39-30.5-105 (5); and

(i) Any other economic benefits resulting from the rural jump-start zone program.

(2) Any new business located in a rural jump-start zone must submit an annual report to the commission in a form and at such time and with such information as prescribed by the commission in its guidelines. Such information shall be sufficient for the commission to monitor the continued eligibility of the new business and the new hires to continue to participate in the rural jump-start zone program and to receive the rural jump-start zone program benefits.
C.R.S. § 39-3.7-102 — CO Code / Title 39 / Article 3.7 / Section 39-3.7-102
39-3.7-102. Property tax work-off program - creation - terms
Status: in_force

39-3.7-102. Property tax work-off program - creation - terms. (1) Any taxing entity that levies and collects real property taxes may establish a property tax work-off program in accordance with this article 3.7 that allows any taxpayer who is sixty years of age or older, is a first responder with a permanent occupational disability as defined in section 33-4-104.5 (2), or who is otherwise a person with a disability to perform work for the taxing entity in lieu of the payment of any real property taxes, or any portion thereof, due and owing on the homestead of such taxpayer for any given property tax year.

(2) In order to qualify for participation in any property tax work-off program created pursuant to the provisions of this article, the following requirements shall be satisfied at the time the application is filed and so long thereafter as the taxpayer may participate in such property tax work-off program:

(a) The property on which the property taxes are due and owing is the homestead of the taxpayer making application.

(b) The taxpayer making application must, singly or jointly with another person residing in the homestead, own the fee simple estate or be purchasing the fee simple estate under a recorded instrument of sale; except that nonresidence of the joint owner in the homestead because of ill health of the joint owner shall not prevent the taxpayer from meeting the requirements of this paragraph (b).

(c) The property on which the property taxes are due and owing is not income-producing.

(3) The number of hours of work to be performed by a taxpayer pursuant to any property tax work-off program shall be based upon the calculation of the amount of property taxes, or portion thereof, to be worked off divided by the minimum wage as set by federal law.

(4) A property tax work-off program shall be created upon the adoption of a resolution or ordinance, whichever is appropriate, by the governing body of such taxing entity. Such resolution or ordinance shall be in accordance with the provisions of this article and shall include, but shall not be limited to, the following: Procedures for application for participation in such property tax work-off program; the maximum number of taxpayers allowed to participate in such property tax work-off program; procedures for verification of work performed; procedures for the issuance of checks to taxpayers for the amount of property tax worked off by such taxpayers pursuant to such property tax work-off program; and such other provisions which such taxing entity deems reasonable and necessary for the implementation and operation of such property tax work-off program.

(4.5) For each property tax year in which a taxpayer participates in a property tax work-off program pursuant to the provisions of this section, the taxing entity which has established such program shall issue a check or checks to such taxpayer which shall be made payable only to the appropriate county treasurer. The taxpayer shall be responsible for the delivery of the check or checks to the county treasurer in order for such amount to be credited to the property tax which is due and owing on the homestead of the taxpayer for such property tax year.

(5) Any taxing entity which establishes a property tax work-off program pursuant to the provisions of this article shall make information regarding such program available to the taxpayers of the taxing entity.

(6) Any taxpayer who is a first responder with a permanent occupational disability as defined in section 33-4-104.5 (2) or who is otherwise a person with a disability, and who applies to participate in a property tax work-off program pursuant to this article 3.7 shall, upon application, submit either a signed and dated letter from the fire and police pension association verifying that the taxpayer is a first responder with a permanent occupational disability or a signed and dated letter from a Colorado licensed health-care professional verifying that the taxpayer is a person with a disability. Any taxing entity that establishes a property tax work-off program pursuant to this section has the authority to further define the term "person with a disability" for purposes of determining eligibility for the property tax work-off program. The definition may restrict, but must not expand, the class of individuals who are eligible to participate in the property tax work-off program pursuant to this section.
C.R.S. § 39-28.8-204 — CO Code / Title 39 / Article 28.8 / Part 2 / Section 39-28.8-204
39-28.8-204. Revenue and spending limitations
Status: in_force

39-28.8-204. Revenue and spending limitations. Notwithstanding any limitations on revenue, spending, or appropriations contained in section 20 of article X of the state constitution or any other provision of law, any revenues generated by the retail marijuana sales tax imposed pursuant to this part 2 as approved by the voters at the statewide election in November 2013, may be collected and spent as voter-approved revenue changes and shall not require voter approval subsequent to the voter approval required pursuant to part 4 of this article.
C.R.S. § 39-5-121.5 — CO Code / Title 39 / Article 5 / Part 1 / Section 39-5-121.5
39-5-121.5. Valuation - inspection of data by taxpayers
Status: in_force

39-5-121.5. Valuation - inspection of data by taxpayers. At the written request of any taxpayer or any agent of such taxpayer and subject to such confidentiality requirements as provided by law, the assessor shall, within seven working days after receipt of said request, make available to the taxpayer or agent the data used by the assessor in determining the actual value of any property owned by such taxpayer. At the assessor's election, the assessor may either mail, fax, or send by electronic transmission to the address, phone number, or electronic address supplied by said taxpayer or agent such data. Such data shall include but shall not be limited to the data derived from the declarations filed pursuant to the provisions of article 14 of this title and confidential data, provided that such confidential data shall be presented in such a manner that the source cannot be identified. Upon receipt of such request, the assessor shall notify the taxpayer or agent of the estimated cost of providing such information, payment of which shall be made prior to providing such information. Upon providing such information, the assessor may include a bill for the reasonable cost above the estimated cost and up to the statutory maximum which shall be due and payable upon receipt by the taxpayer or agent.
C.R.S. § 39-21-112 — CO Code / Title 39 / Article 21 / Part 1 / Section 39-21-112
39-21-112. Duties and powers of executive director - reporting of information related to lo
Status: repealed

39-21-112. Duties and powers of executive director - reporting of information related to local lodging tax and sales or use tax on building or construction materials - definitions - repeal. (1) It is the duty of the executive director to administer the provisions of this article 21, and the executive director has the power to adopt, amend, or rescind such rules not inconsistent with the provisions of this article 21, the statutory provisions listed in section 39-21-102, and, subject to other provisions of law relating to the promulgation of rules, to appoint, pursuant to section 13 of article XII of the state constitution, such persons, to make such expenditures, to require such reports, to make such investigations, and to take such other action as the executive director deems necessary or suitable to that end. The executive director shall determine the organization and methods of procedure in accordance with the provisions of this article 21. For the purpose of ascertaining the correctness of any return or for the purpose of making an estimate of the tax due from any taxpayer, the executive director has the power to examine or cause to be examined by any employee, agent, or representative designated by the executive director for that purpose any books, papers, records, or memoranda bearing upon the matters required to be included in the return. In the exercise of rule-making authority as to article 29 of this title 39, as granted by the general assembly pursuant to this subsection (1), the executive director may not readopt any rule, or portion thereof, disapproved on or after July 1, 1982, by the general assembly pursuant to section 24-4-103 (8)(d) without the approval of the general assembly.

(2) If any taxpayer refuses voluntarily to furnish any of the foregoing information when requested by the executive director of the department of revenue or his employee, agent, or representative, the executive director, by subpoena issued under his hand, may require the attendance of the taxpayer and the production by him of any of the foregoing information in his possession and may administer an oath to him and take his testimony. If the taxpayer fails or refuses to respond to said subpoena and give testimony, the executive director may apply to any judge of the district court of the state of Colorado for an attachment against such taxpayer as for contempt, and said judge may cause arrest of such person, and upon hearing, said judge has, for the purpose of enforcing obedience to the requirements of said subpoena, power to make such order as, in his discretion, he deems consistent with the law for punishment of contempts.

(3) If the executive director of the department of revenue is unable to secure from the taxpayer information relating to the correctness of the taxpayer's return or the amount of the income of the taxpayer, the executive director may apply to any judge of the district court of the state of Colorado for the issuance of subpoenas to such other persons as the executive director believes may have knowledge in the premises, and, upon making a showing satisfactory to the court that the taxpayer cannot be found, or evades service of subpoena, or fails or refuses to produce his records or give testimony, or is unable to furnish such records or testimony, the judge has power, after service of summons upon the persons named in the petition of the executive director, after written notice mailed to the taxpayer to his last-known address as set forth in the records of the department of revenue, and after hearing, to cause the issuance of subpoenas under the seal of the court to the persons sought to be so summoned requiring any of them to appear before said executive director and give testimony relating to said taxpayer's return or income. In case any of said persons so served with subpoena fail to respond thereto, the judge may proceed against such persons as in cases of contempt.

(3.5) (a) If any retailer that does not collect Colorado sales tax refuses voluntarily to furnish any of the information specified in subsection (1) of this section when requested by the executive director of the department of revenue or his or her employee, agent, or representative, the executive director, by subpoena issued under the executive director's hand, may require the attendance of the retailer and the production by him or her of any of the foregoing information in the retailer's possession and may administer an oath to him or her and take his or her testimony. If the retailer fails or refuses to respond to said subpoena and give testimony, the executive director may apply to any judge of the district court of the state of Colorado to enforce such subpoena by any appropriate order, including, if appropriate, an attachment against the retailer as for contempt, and upon hearing, said judge has, for the purpose of enforcing obedience to the requirements of said subpoena, power to make such order as, in his or her discretion, he or she deems consistent with the law for punishment of contempts.

(b) For purposes of this subsection (3.5), "retailer" shall have the same meaning as set forth in section 39-26-102 (8).

(c) (I) Each retailer that does not collect Colorado sales tax shall notify Colorado purchasers that sales or use tax is due on certain purchases made from the retailer and that the state of Colorado requires the purchaser to file a sales or use tax return.

(II) Failure to provide the notice required in subparagraph (I) of this paragraph (c) shall subject the retailer to a penalty of five dollars for each such failure, unless the retailer shows reasonable cause for such failure.

(d) (I) (A) Each retailer that does not collect Colorado sales tax shall send notification to all Colorado purchasers by January 31 of each year showing such information as the Colorado department of revenue shall require by rule and the total amount paid by the purchaser for Colorado purchases made from the retailer in the previous calendar year. Such notification shall include, if available, the dates of purchases, the amounts of each purchase, and the category of the purchase, including, if known by the retailer, whether the purchase is exempt or not exempt from taxation. The notification shall state that the state of Colorado requires a sales or use tax return to be filed and sales or use tax paid on certain Colorado purchases made by the purchaser from the retailer.

(B) The notification specified in sub-subparagraph (A) of this subparagraph (I) shall be sent separately to all Colorado purchasers by first-class mail and shall not be included with any other shipments. The notification shall include the words "Important Tax Document Enclosed" on the exterior of the mailing. The notification shall include the name of the retailer.

(II) (A) Each retailer that does not collect Colorado sales tax shall file an annual statement for each purchaser to the department of revenue on such forms as are provided or approved by the department showing the total amount paid for Colorado purchases of such purchasers during the preceding calendar year or any portion thereof, and such annual statement shall be filed on or before March 1 of each year.

(B) The executive director of the department of revenue may require any retailer that does not collect Colorado sales tax that makes total Colorado sales of more than one hundred thousand dollars in a year to file the annual statement described in sub-subparagraph (A) of this subparagraph (II) by magnetic media or another machine-readable form for that year.

(III) (A) Failure to send the notification required in subparagraph (I) of this paragraph (d) shall subject the retailer to a penalty of ten dollars for each such failure, unless the retailer shows reasonable cause for such failure.

(B) Failure to file the annual statement required in sub-subparagraph (A) of subparagraph (II) of this paragraph (d) shall subject the retailer to a penalty of ten dollars for each purchaser that should have been included in such annual statement, unless the retailer shows reasonable cause for such failure.

(4) Regulations adopted, amended, or rescinded by the executive director of the department of revenue shall be effective in the manner and at the time prescribed by the executive director, subject to the provisions of article 4 of title 24, C.R.S.

(5) Subject to the provisions of this article and the state personnel system regulations, the executive director of the department of revenue is authorized to appoint and prescribe the duties and powers of such officers, accountants, experts, and other persons as may be necessary in the performance of his duty. He may delegate to any such person so appointed such power as he deems reasonable and proper for the effective administration of this article and shall bond, in a sufficient amount, any person handling money under this article.

(6) Members of the department of revenue shall each give bond to the state of Colorado in the sum of five thousand dollars conditioned upon the faithful performance of their duties under the provisions of this article.

(7) (a) Any officer or employee of the department shall be dismissed from office or discharged from employment if, while performing functions related to any revenue law of the state of Colorado, he:

(I) Extorts or willfully oppresses any person through use of his actual or apparent authority;

(II) Knowingly demands other or greater sums than are authorized by law or receives any fee, compensation, or reward, except as prescribed by law, for the performance of any duty;

(III) With intent to defeat the application of any provision of this title, makes opportunity for any person to defraud the state of Colorado by intentionally failing to perform any of the duties of his office or employment;

(IV) Conspires or colludes with any other person to defraud the state of Colorado;

(V) Knowingly makes opportunity for any person to defraud the state of Colorado;

(VI) Commits or omits to do any act with the intent to enable any other person to defraud the state of Colorado;

(VII) Makes or signs any fraudulent entry in any book or makes or signs any fraudulent certificate, return, or statement;

(VIII) Fails to report in writing to the executive director of the department of revenue or his designee any knowledge or information he has concerning a violation of any revenue law by any person or a fraud committed by any person against the state of Colorado under any revenue law; or

(IX) Demands, accepts, or attempts to collect, directly or indirectly, as payment, gift, or otherwise any sum of money or other thing of value for the compromise, adjustment, or settlement of any charge or complaint for any violation or alleged violation of law, except as otherwise expressly authorized by law.

(b) Any officer or employee who violates any of the provisions of paragraph (a) of this subsection (7) is guilty of a class 6 felony and shall be punished as provided in section 18-1.3-401, C.R.S. The court may in its discretion award out of any fine imposed an amount, not in excess of one-half thereof, for the use of the informer, if any, in any such case who shall be ascertained by the judgment of the court. The court also shall render judgment against the said officer or employee for the amount of damages sustained in favor of the party injured.

(8) The executive director is authorized to waive, for good cause shown, any penalty or interest assessed on any tax administered under the provisions of this article, and interest imposed in excess of the rate imposed under section 39-21-110.5 shall be deemed a penalty.

(9) The executive director shall have such other powers, duties, and functions as are prescribed for heads of principal departments in the "Administrative Organization Act of 1968", article 1 of title 24, C.R.S.

(10) (a) Notwithstanding any other provision of law, and pursuant to 26 U.S.C. sec. 6402 and 31 U.S.C. sec. 3716 (b) and (h)(1), or any successor sections, the executive director may enter into a reciprocal agreement with the United States government to offset:

(I) The claim of any person against the state, including any state tax overpayment to which the person may be entitled, to any debt of the person owed to the United States government that the United States government has certified as final, due, and owing, with all appeals and legal actions having been waived or exhausted; and

(II) Any claim of any person against the United States government to any liquidated debt of the person owed to the state. Any fees associated with any offset of federal money will be deducted by the United States government from the amount of money offset, which may then be added to the balance of the debt owed, but any fees associated with any offset of state money will not be charged to the United States government.

(b) Notwithstanding any other provision of law, the executive director may enter into a reciprocal agreement with any state to offset:

(I) The claim of any person against the state to any debt of the person owed to any state that has certified the debt as final, due, and owing, with all appeals and legal actions having been waived or exhausted; and

(II) Any claim of any person against any state to any liquidated debt of the person owed to the state.

(11) (a) As used in this section, unless the context otherwise requires:

(I) "Applicable sales or use tax" means a sales or use tax on building or construction materials imposed by a local taxing jurisdiction.

(II) "Building permit-related applicable sales or use tax information" means the following information:

(A) The tax rate of all applicable sales or use taxes, including applicable sales or use taxes imposed on the items identified in subsection (11)(a)(II)(E) of this section;

(B) The timing of when the applicable sales or use tax must be paid to the local taxing jurisdiction and if the local taxing jurisdiction requires pre-payment of the applicable sales or use tax, the percentage basis for the pre-paid amount required;

(C) Any exemptions on purchases subject to the applicable sales or use tax;

(D) Whether the local taxing jurisdiction includes the applicable sales or use tax due on a building permit and whether any other information is included on building permits; and

(E) Whether the local taxing jurisdiction imposes a sales or use tax on construction equipment brought into the local taxing jurisdiction, on storage of equipment within the local taxing jurisdiction, or on services.

(III) "Construction equipment" means any equipment, including mobile machinery and mobile equipment, which is used to erect, install, alter, demolish, repair, remodel, or otherwise make improvements to any real property, building, structure, or infrastructure.

(IV) "Local lodging tax" has the same meaning as set forth in section 39-26-802 (1)(a.5)(II).

(V) "Local lodging tax information" means the following information for all local lodging tax imposed by the local taxing jurisdiction:

(A) The tax rate;

(B) The types of lodging that the local lodging tax applies to, including any conditions governing the application of the local lodging tax by lodging type, such as minimum number of rooms in a property or use of accommodations;

(C) The number of days after which a stay is exempt, which may be referred to as a length of stay exemption; and

(D) The amount of the local lodging tax that is permitted to be retained by the party responsible for collection of the local lodging tax in exchange for timely filing, which may be referred to as a vendor fee, service fee, or timely filing discount.

(VI) "Local taxing jurisdiction" means a county, home rule county, statutory town or city, home rule town or city, city and county, or territorial charter town or city that imposes a local lodging tax or imposes an applicable sales or use tax.

(b) By not later than July 1, 2025, and by not later than January 1 and July 1 of each year thereafter, the executive director shall, in a form and in a manner prescribed by the department, publish local lodging tax information and building permit-related applicable sales or use tax information.

(c) (I) For the purpose of administration by the executive director of the provisions in this subsection (11), each local taxing jurisdiction shall file with the executive director a copy of each ordinance or resolution, or any amendment thereto, that imposes an applicable sales or use tax or local lodging tax no later than forty-five days before the effective date of the ordinance or resolution, or any amendment thereto. If a local taxing jurisdiction's ordinance or resolution does not contain building permit-related applicable sales or use tax information or local lodging tax information, the local taxing jurisdiction shall file with the executive director documentation containing such information as set forth in subsections (11)(a)(II) and (11)(a)(V) of this section.

(II) (A) Notwithstanding the provisions of subsection (11)(c)(I) of this section, local taxing jurisdictions shall file with the executive director a copy of each ordinance or resolution, or any amendment thereto, that imposes an applicable sales or use tax or local lodging tax on or before June 15, 2025. If a local taxing jurisdiction's ordinance or resolution does not contain building permit-related applicable sales or use tax information or local lodging tax information, the local taxing jurisdiction shall file with the executive director documentation containing such information as set forth in subsections (11)(a)(II) and (11)(a)(V) of this section.

(B) This subsection (11)(c)(II) is repealed, effective January 1, 2027.
C.R.S. § 39-22-303 — CO Code / Title 39 / Article 22 / Part 3 / Section 39-22-303
39-22-303. Dividends in a combined report - foreign source income - affiliated groups - def
Status: repealed

39-22-303. Dividends in a combined report - foreign source income - affiliated groups - definitions - rules - repeal.

(1) to (5) (Deleted by amendment, L. 2008, p. 955, § 7, effective January 1, 2009.)

(6) In the case of two or more C corporations, whether domestic or foreign, owned or controlled directly or indirectly by the same interests, the executive director may, to avoid abuse, on a fair and impartial basis, distribute or allocate the gross income and deductions between or among such C corporations in order to clearly reflect income.

(7) (Deleted by amendment, L. 2008, p. 955, § 7, effective January 1, 2009.)

(8) (a) Except as provided in subsection (8)(b) of this section, neither the taxpayer nor the executive director shall include in a combined report any C corporation that conducts business outside the United States if eighty percent or more of the C corporation's property and payroll, as determined by factoring pursuant to section 24-60-1301, is assigned to locations outside the United States. For the purpose of this subsection (8), "United States" is restricted to the fifty states and the District of Columbia.

(b) (I) For tax years beginning on or after January 1, 2022, a taxpayer shall include in the combined group any member of an affiliated group of C corporations that is incorporated in a foreign jurisdiction for the purpose of tax avoidance.

(II) A C corporation is presumptively incorporated in a foreign jurisdiction for the purpose of tax avoidance if it is incorporated in a listed jurisdiction. A C corporation is not incorporated in a foreign jurisdiction for the purpose of tax avoidance if the taxpayer proves to the satisfaction of the executive director that such corporation is incorporated in a listed jurisdiction for reasons that meet the economic substance doctrine described in section 7701 (o) of the internal revenue code.

(III) For purposes of this subsection (8)(b), the term "C corporation" includes any business entity defined as a "corporation" under the internal revenue code and the rules and regulations promulgated pursuant thereto, regardless of whether such entity is subject to federal income tax. Any business entity included in a combined group under subsection (8)(b)(I) of this section is deemed to be a "C corporation" for purposes of this article 22, notwithstanding section 39-22-103 (2.5).

(9) Dividends which a C corporation includable in a combined report receives from another C corporation also includable in the combined report shall be excluded from taxable income.

(10) As used in this subsection (10), "foreign source income" means taxable income from sources without the United States, as used in section 862 of the internal revenue code. In apportioning and allocating income pursuant to section 39-22-303.5, 39-22-303.6, or 39-22-303.7, foreign source income shall be considered only to the extent provided in this subsection (10):

(a) If, for federal income tax purposes, the taxpayer has elected to claim foreign taxes paid or accrued as a deduction, then all foreign source income minus such deduction shall be considered;

(b) (I) If, for federal income tax purposes, the taxpayer has elected to claim foreign taxes paid or accrued as a credit, then foreign source income shall be considered only to the extent that such income exceeds the exclusion provided by this paragraph (b).

(II) For income tax years commencing prior to January 1, 2000, the amount to be excluded is determined by multiplying the foreign source income by a fraction, the numerator of which is the total of taxes paid or accrued to foreign countries and United States possessions by or on behalf of the C corporation pursuant to section 901 of the internal revenue code, deemed paid pursuant to section 960 of the internal revenue code for the tax year, or carried over or carried back to such tax year pursuant to section 904 (c) of the internal revenue code. The denominator of said fraction shall be forty-six percent of the foreign source income.

(III) For income tax years commencing on or after January 1, 2000, the amount to be excluded is determined by multiplying the foreign source income by a fraction, the numerator of which is the total of taxes paid or accrued to foreign countries and United States possessions by or on behalf of the C corporation pursuant to section 901 of the internal revenue code, deemed paid pursuant to section 960 of the internal revenue code for the tax year, or carried over or carried back to such tax year pursuant to section 904 (c) of the internal revenue code. The denominator of said fraction shall be the same percentage as the effective federal corporate income tax rate multiplied by the foreign source income. As used in this subsection (10), "effective federal corporate income tax rate" means the taxpayer's federal corporate income tax calculated in accordance with section 11 (a) and (b) of the internal revenue code for such tax year divided by the taxpayer's federal taxable income.

(c) Foreign source income from a foreign C corporation within an affiliated group of C corporations shall be determined without regard to section 882 (a)(2) of the internal revenue code.

(11) For tax years beginning before January 1, 2026:

(a) In the case of an affiliated group of C corporations, the executive director may require, or the taxpayer may file, a combined report, but such report shall only include those members of an affiliated group of C corporations as to which any three of the following facts have been in existence in the tax year and the two preceding tax years:

(I) Sales or leases by one affiliated C corporation to another affiliated C corporation constitute fifty percent or more of the gross operating receipts of the C corporation making the sales or leases; or, purchases or leases from one affiliated C corporation by another affiliated C corporation constitute fifty percent or more of the cost of goods sold or leased by the C corporation making the purchases or leases. This subparagraph (I) shall not apply to the following transactions between affiliated C corporations: The issuance of commercial paper or other debt obligations and the use of the proceeds therefrom to make loans or to purchase receivables between affiliated C corporations.

(II) Five or more of the following services are provided by one or more affiliated C corporations for the benefit of another affiliated C corporation: Advertising and public relations services; accounting and bookkeeping services; legal services; personnel services; sales services; purchasing services; research and development services; insurance procurement and servicing exclusive of employee benefit programs; and employee benefit programs including pension, profit-sharing, and stock purchase plans. A service shall be deemed provided if fifty percent or more of the service is provided without provision for an "arm's length charge" within the meaning of the United States treasury regulation 1.482-2 (b)(3).

(III) Twenty percent or more of the long-term debt of one affiliated C corporation is owed to or guaranteed by another affiliated C corporation. For the purposes of this subparagraph (III), "long-term debt" means debt which becomes due more than one year after incurred.

(IV) One affiliated C corporation substantially uses the patents, trademarks, service marks, logo-types, trade secrets, copyrights, or other proprietary materials owned by another affiliated C corporation.

(V) Fifty percent or more of the members of the board of directors of one affiliated C corporation are members of the board of directors or are corporate officers of another affiliated C corporation.

(VI) Twenty-five percent or more of the twenty highest-ranking officers of an affiliated C corporation are members of the board of directors or are corporate officers of another affiliated C corporation.

(b) The net income of the affiliated C corporations which are to be included in a combined report shall be determined pursuant to the rules and regulations promulgated pursuant to section 1502 of the internal revenue code, as modified by section 39-22-304.

(c) If an affiliated C corporation is included in a combined report, section 39-22-303.5, 39-22-303.6, or 39-22-303.7 shall be applied with the following modifications:

(I) Intercompany transactions among the affiliated C corporations shall be excluded from the numerator and denominator of the apportionment calculation set forth in section 39-22-303.5, 39-22-303.6, or 39-22-303.7; and

(II) (A) For income tax years commencing before January 1, 2022, the numerator of the apportionment calculation set forth in section 39-22-303.5 or 39-22-303.6 shall be, to the extent applicable, the sum of the sales of those affiliated C corporations doing business in Colorado.

(B) For income tax years commencing on or after January 1, 2022, the combined group apportionment factor is a fraction determined under section 39-22-303.6, as modified, if applicable, by section 39-22-303.7, where the numerator of the factor includes amounts sourced to the state, regardless of the separate entity to which those factors may be attributed, and the denominator of the factor includes amounts associated with the combined group's business wherever located.

(d) The executive director shall not require returns to be made on a consolidated basis, but an affiliated group of C corporations may elect to file a consolidated return as otherwise provided in this article.

(e) (Deleted by amendment, L. 2008, p. 955, § 7, effective January 1, 2009.)

(f) For purposes of this section, any C corporation formed under the laws of any state or the United States with de minimis or no property and payroll, as determined by factoring pursuant to section 24-60-1301, shall be deemed to satisfy the requirements of subsection (11)(a) of this section. The department of revenue shall adopt rules to determine the manner in which the de minimis standard will be uniformly applied to taxpayers.

(g) For the purpose of satisfying the requirements of subsections (11)(a)(I) to (11)(a)(IV) of this section, the activities of any entity formed under the laws of any state or the United States that is treated as a partnership pursuant to part 2 of this article 22, shall be treated as activities performed by the member of the affiliated group of C corporations that owns a portion of the entity if more than fifty percent of the entity's ownership interest is held in the aggregate by one or more members of the affiliated group. If the entity is owned by more than one member of the affiliated group, the activities of the entity shall be treated as activities performed by each member that owns a portion of the entity.

(11.2) Subsection (11) of this section and this subsection (11.2) are repealed, effective December 31, 2031.

(11.5) (a) The general assembly finds and declares that:

(I) Subsection (11)(a) of this section was enacted in 1985 to implement unitary combined reporting in Colorado. However, that subsection is unique among states that employ unitary combined reporting, uses arbitrary tests that have been difficult for taxpayers and the department of revenue to apply, and has created unnecessary tax compliance challenges because Colorado's approach diverges from other states.

(II) Including all amounts sourced to Colorado for the combined group best effectuates unitary combined reporting, regardless of the separate entity to which those factors may be attributed. Doing so recognizes that the unitary group is a single taxpayer and prevents corporate form from governing economic substance.

(III) Section 39-22-301 and this section, as amended by House Bill 24-1134, enacted in 2024, allow Colorado to join other states with similar combined reporting standards and implement unitary combined reporting in a manner that simplifies the preparation of corporate income tax returns in Colorado without arbitrary tests that are difficult to apply.

(b) For tax years beginning on and after January 1, 2026:

(I) Except as provided in subsection (8) of this section, all of the members of an affiliated group of C corporations, wherever incorporated or domiciled, that are members of a unitary business shall file a combined report as a combined group.

(II) The net income of each member of the combined group, as determined under section 39-22-304, is combined, eliminating items of income, expense, gain, and loss from transactions between members of the combined group, applying the consolidated filing rules under the internal revenue code, and the regulations thereunder, as if the combined group was a consolidated filing group. Dividends are eliminated to the extent permitted under subsection (9) of this section.

(III) (A) Except as otherwise provided in this section, section 39-22-303.6, as modified, if applicable, by section 39-22-303.7, determines how income or loss, or items making up income or loss, are allocated and apportioned to this state.

(B) The combined group apportionment factor is a fraction determined under section 39-22-303.6, as modified, if applicable, by section 39-22-303.7, where the numerator of the factor includes amounts sourced to the state for the combined group's unitary business, regardless of the separate entity to which those factors may be attributed, and the denominator of the factor includes amounts associated with the combined group's unitary business wherever located.

(C) Intercompany transactions among members of the combined group are excluded from the numerator and denominator of the apportionment calculation set forth in section 39-22-303.6, as modified, if applicable, by section 39-22-303.7.

(D) If a member of the combined group holds a partnership interest from which it derives apportionable income, the share of partnership's apportionment factor to be included in the apportionment factor of the combined group is determined by multiplying the partnership's factor by a ratio, the numerator of which is the amount of the partnership's apportionable income properly included in the member's income, whether received directly or indirectly, and including any guaranteed payments, and the denominator of which is the amount of the partnership's total apportionable income. In the case of a partnership that is unitary with the partner, receipts from intercompany transactions between the partnership and the partner, or any other member of the combined group, are excluded from the numerator and denominator of the apportionment calculation as follows: Receipts from sales by the partner, or any member of the partner's combined group, to the partnership to the extent of the partner's interest in the partnership; and receipts from sales by the partnership to the partner, or any member of the partner's combined group, not to exceed the partner's interest in all partnership sales. If a member of the combined group directly or indirectly receives an allocation of a partnership tax item, such as an item of loss or expense, so that it is not possible to determine the member's share of apportionable income, the executive director may promulgate rules for inclusion of particular partnership factors, or portions of factors, in the combined group's factors.

(IV) The combined report must be filed under the name and federal employer identification number of the parent corporation if the parent is a member of the combined group. If there is no parent corporation, or if the parent is not a group member, the members of the combined group shall choose a member to file the return. The filing member must remain the same in subsequent years unless the filing member is no longer the parent corporation or is no longer a member of the combined group. The return must be signed by a responsible officer of the filing member on behalf of the combined group members as required by section 39-22-601 (2).

(V) Members of the combined group are jointly and severally liable for the tax liability of the combined group included in the combined return.

(VI) The executive director shall not require returns to be made on a consolidated basis, but an affiliated group of C corporations may elect to file a consolidated return as otherwise provided in this article 22.

(12) As used in this section, unless the context otherwise requires:

(a) "Affiliated group" means:

(I) One or more includable C corporations connected directly or indirectly through stock ownership with a common parent C corporation that is an includable C corporation if:

(A) Stock possessing more than fifty percent of the voting power of all classes of stock and more than fifty percent of each class of the nonvoting stock of each of the includable C corporations, except the common parent C corporation, is owned directly or indirectly by one or more of the other includable C corporations; and

(B) The common parent C corporation owns directly or indirectly stock possessing more than fifty percent of the voting power of all classes of stock and more than fifty percent of each class of the nonvoting stock of at least one of the other includable C corporations.

(II) As used in this subsection (12)(a), the term "stock" does not include nonvoting stock that is limited and preferred as to dividends, employer securities, within the meaning of section 409 (1) of the internal revenue code, while such securities are held under a tax credit employee stock ownership plan, or qualifying employer securities, within the meaning of section 4975 (e)(8) of the internal revenue code, while such securities are held under an employee stock ownership plan which meets the requirements of section 4975 (e)(7) of the internal revenue code.

(a.3) "Combined group" means the affiliated group of C corporations that must file a combined report as required by subsection (11.5) of this section.

(a.5) "Combined report" means a tax return required to be filed for the combined group containing information as provided in this article 22 or required by the executive director.

(b) "Listed jurisdiction" means Andorra, Anguilla, Antigua and Barbuda, Aruba, the Bahamas, Bahrain, Barbados, Belize, Bermuda, Bonaire, British Virgin Islands, Cayman Islands, Cook Islands, Curaçao, Cyprus, Dominica, Gibraltar, Grenada, Guernsey-Sark-Alderney, Isle of Man, Jersey, Liberia, Luxembourg, Malta, Marshall Islands, Mauritius, Monaco, Montserrat, Nauru, Niue, Panama, Saba, Samoa, San Marino, Seychelles, Sint Eustatius, Sint Maarten, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Turks and Caicos Islands, U.S. Virgin Islands, and Vanuatu.

(c) Repealed.

(d) "Taxpayer" means a C corporation or combined group subject to the tax imposed by section 39-22-301.

(e) "Unitary business" means a single economic enterprise made up either of separate parts of a single C corporation or of an affiliated group of C corporations that are sufficiently interdependent, integrated, and interrelated through their activities so as to provide a synergy and mutual benefit that produces a sharing or exchange of value among them and a significant flow of value to the separate parts. A unitary business includes that part of the business that is conducted by a taxpayer through the taxpayer's interest in a partnership, whether the interest in that partnership is held directly or indirectly through a series of partnerships or other pass-through entities.

(13) Repealed.

(14) (Deleted by amendment, L. 2008, p. 955, § 7, effective January 1, 2009.)

(15) Repealed.
C.R.S. § 39-22-614 — CO Code / Title 39 / Article 22 / Part 6 / Section 39-22-614
39-22-614. Contents of application
Status: repealed

39-22-614. Contents of application. (Repealed)
C.R.S. § 39-22-340 — CO Code / Title 39 / Article 22 / Part 3 / Section 39-22-340
39-22-340. Short title - citation
Status: in_force

39-22-340. Short title - citation. This subpart 3 is comprised of sections 39-22-340 to 39-22-347 and may be cited as subpart 3. This subpart 3 shall be known and may be cited as the "SALT Parity Act".
C.R.S. § 39-22-516 — CO Code / Title 39 / Article 22 / Part 5 / Section 39-22-516
39-22-516. Tax credit for purchase of vehicles using alternative fuels - repeal
Status: repealed

39-22-516. Tax credit for purchase of vehicles using alternative fuels - repeal. (Repealed)
C.R.S. § 39-21-403 — CO Code / Title 39 / Article 21 / Part 4 / Section 39-21-403
39-21-403. Legislative oversight committee concerning tax policy - creation - duties - repo
Status: in_force

39-21-403. Legislative oversight committee concerning tax policy - creation - duties - report. (1) Creation. (a) There is hereby created a legislative oversight committee concerning tax policy.

(b) The committee consists of six members as follows:

(I) Two senators appointed by the president of the senate and one senator appointed by the minority leader of the senate; and

(II) Two representatives appointed by the speaker of the house and one representative appointed by the minority leader of the house of representatives.

(c) (I) Appointees to the committee must have experience with or interest in the study areas of the committee and task force, as set forth in section 39-21-404.

(II) Appointments must be made no later than fourteen days after July 7, 2021.

(d) The terms of the members expire or terminate on the convening date of the first regular session of the seventy-fourth general assembly. As soon as practicable after such convening date, but no later than the end of the legislative session, the speaker and minority leader of the house of representatives and the president and minority leader of the senate shall each appoint or reappoint members in the same manner as provided in subsection (1)(b) of this section. Thereafter, the terms of members appointed or reappointed expire on the convening date of the first regular session of each general assembly, and all subsequent appointments and reappointments must be made as soon as practicable after such convening date, but no later than the end of the legislative session.

(e) The person making the original appointment or reappointment shall fill any vacancy by appointment for the remainder of an unexpired term. Members appointed or reappointed serve at the pleasure of the appointing authority and continue until the member's successor is appointed.

(f) The speaker of the house of representatives shall select the first chair of the committee, and the president of the senate shall select the first vice-chair. The chair and vice-chair shall alternate annually thereafter between the two houses.

(g) The chair and vice-chair of the committee may establish such organizational and procedural rules as are necessary for the operation of the committee and, in collaboration with the task force, guidelines and expectations for ongoing collaboration with the task force.

(h) (I) Members of the committee are entitled to receive compensation and reimbursement of expenses as provided in section 2-2-326.

(II) The director of research of the legislative council, the director of the office of legislative legal services, and the state auditor shall supply staff assistance to the committee as they deem appropriate, within existing appropriations.

(2) Duties. (a) (I) The committee shall meet at least four times each year and at such other times as it deems necessary.

(II) Each committee member shall annually either attend or call in to at least one regular task force meeting. Committee members are encouraged to attend separate meetings and inform the rest of the committee about the current work of the task force.

(b) The committee shall annually define in writing, no later than the second meeting of the year, the scope of tax policy to be considered for the committee and the task force.

(c) (I) (A) The committee shall consider the policy considerations contained in the tax expenditure evaluations prepared by the state auditor pursuant to section 39-21-305 and the information contained in the reports prepared by the state auditor pursuant to section 39-21-306 concerning a review of federal tax law, including changes, that may have a significant impact on the state's tax base.

(B) Notwithstanding the state auditor's schedule established pursuant to section 39-21-305 (1)(d), the committee may, in writing, direct the state auditor to evaluate up to three additional specific tax expenditures to be included in the state auditor's evaluation reports due for the following year pursuant to section 39-21-305 (1)(e).

(C) The committee may, in writing, request that the state auditor prepare up to two reports annually on specific and discrete topics related to existing tax policy. Not later than thirty days after receipt of the request, the state auditor shall prepare for the committee chair a written proposed scope of work concerning the request. Upon approval of the proposed scope of the work by the committee chair, the state auditor shall proceed with the research and analysis required to complete the requested report.

(II) The committee is responsible for the oversight of the task force.

(d) The committee may recommend legislative changes that are treated as bills recommended by an interim legislative committee for purposes of any introduction deadlines or bill limitations imposed by the joint rules of the general assembly.

(e) On or before January 1 of each year, the committee shall submit, and make publicly available on its website, a report to the general assembly. The annual report must briefly summarize the study issues, recommendations considered, and any actions taken by the committee and the task force during the previous year. The report must comply with the provisions of section 24-1-136 (9). Notwithstanding section 24-1-136 (11)(a)(I), the requirement in this section to report to the general assembly continues indefinitely.
C.R.S. § 39-1-102 — CO Code / Title 39 / Article 1 / Section 39-1-102
39-1-102. Definitions
Status: repealed

39-1-102. Definitions. As used in articles 1 to 13 of this title 39, unless the context otherwise requires:

(1) "Administrator" means the property tax administrator.

(1.1) (a) "Agricultural and livestock products" means plant or animal products in a raw or unprocessed state that are derived from the science and art of agriculture, regardless of the use of the product after its sale and regardless of the entity that purchases the product. "Agriculture", for the purposes of this subsection (1.1), means farming, ranching, animal husbandry, and horticulture.

(b) On and after January 1, 2023, for the purposes of this subsection (1.1), "agricultural and livestock products" includes crops grown within a controlled environment agricultural facility in a raw or unprocessed state for human or livestock consumption. For the purposes of this subsection (1.1)(b), "agricultural and livestock products" does not include marijuana, as defined in section 18-18-102 (18)(a), or any other nonfood crop agricultural products.

(1.3) "Agricultural equipment that is used on the farm or ranch or in a CEA facility in the production of agricultural products":

(a) Means any personal property used on a farm or ranch, as defined in subsections (3.5) and (13.5) of this section, for planting, growing, and harvesting agricultural products or for raising or breeding livestock for the primary purpose of obtaining a monetary profit; and

(b) Includes:

(I) Any mechanical system used on the farm or ranch for the conveyance and storage of animal products in a raw or unprocessed state, regardless of whether or not such mechanical system is affixed to real property;

(II) Silviculture personal property that is designed, adapted, and used for the planting, growing, maintenance, or harvesting of trees in a raw or unprocessed state;

(III) Any personal property within a facility, whether attached to a building or not, that is capable of being removed from the facility, and is used in direct connection with the operation of a controlled environment agricultural facility, which facility is used solely for planting, growing, or harvesting crops in a raw or unprocessed state; and

(IV) Any personal property within a greenhouse, whether attached to the greenhouse or not, that is capable of being removed from the greenhouse and is used in direct connection with the operation of a greenhouse, which greenhouse is used solely for planting or growing crops in a raw or unprocessed state, and the sole purpose of growing crops in the greenhouse is to obtain a monetary profit from the wholesale of plant-based food for human or livestock consumption.

(1.6) (a) "Agricultural land", whether used by the owner of the land or a lessee, means one of the following:

(I) (A) A parcel of land, whether located in an incorporated or unincorporated area and regardless of the uses for which such land is zoned, that was used the previous two years and presently is used as a farm or ranch, as defined in subsections (3.5) and (13.5) of this section, or that is in the process of being restored through conservation practices. Such land must have been classified or eligible for classification as "agricultural land", consistent with this subsection (1.6), during the ten years preceding the year of assessment. Such land must continue to have actual agricultural use. "Agricultural land" under this subparagraph (I) shall not include two acres or less of land on which a residential improvement is located unless the improvement is integral to an agricultural operation conducted on such land. "Agricultural land" also includes the land underlying other improvements if such improvements are an integral part of the farm or ranch and if such other improvements and the land area dedicated to such other improvements are typically used as an ancillary part of the operation. The use of a portion of such land for hunting, fishing, or other wildlife purposes, for monetary profit or otherwise, shall not affect the classification of agricultural land. For purposes of this subparagraph (I), a parcel of land shall be "in the process of being restored through conservation practices" if: The land has been placed in a conservation reserve program established by the natural resources conservation service pursuant to 7 U.S.C. secs. 1 to 5506; or a conservation plan approved by the appropriate conservation district has been implemented for the land for up to a period of ten crop years as if the land has been placed in such a conservation reserve program.

(B) A residential improvement shall be deemed to be "integral to an agricultural operation" for purposes of sub-subparagraph (A) of this subparagraph (I) if an individual occupying the residential improvement either regularly conducts, supervises, or administers material aspects of the agricultural operation or is the spouse or a parent, grandparent, sibling, or child of the individual.

(II) A parcel of land that consists of at least forty acres, that is forest land, that is used to produce tangible wood products that originate from the productivity of such land for the primary purpose of obtaining a monetary profit, that is subject to a forest management plan, and that is not a farm or ranch, as defined in subsections (3.5) and (13.5) of this section. "Agricultural land" under this subparagraph (II) includes land underlying any residential improvement located on such agricultural land.

(III) A parcel of land that consists of at least eighty acres, or of less than eighty acres if such parcel does not contain any residential improvements, and that is subject to a perpetual conservation easement, if such land was classified by the assessor as agricultural land under subparagraph (I) or (II) of this paragraph (a) at the time such easement was granted, if the grant of the easement was to a qualified organization, if the easement was granted exclusively for conservation purposes, and if all current and contemplated future uses of the land are described in the conservation easement. "Agricultural land" under this subparagraph (III) does not include any portion of such land that is actually used for nonagricultural commercial or nonagricultural residential purposes.

(IV) A parcel of land, whether located in an incorporated or unincorporated area and regardless of the uses for which such land is zoned, used as a farm or ranch, as defined in subsections (3.5) and (13.5) of this section, if the owner of the land has a decreed right to appropriated water granted in accordance with article 92 of title 37, C.R.S., or a final permit to appropriated groundwater granted in accordance with article 90 of title 37, C.R.S., for purposes other than residential purposes, and water appropriated under such right or permit shall be and is used for the production of agricultural or livestock products on such land;

(V) A parcel of land, whether located in an incorporated or unincorporated area and regardless of the uses for which such land is zoned, that has been reclassified from agricultural land to a classification other than agricultural land and that met the definition of agricultural land as set forth in subparagraphs (I) to (IV) of this paragraph (a) during the three years before the year of assessment. For purposes of this subparagraph (V), the parcel of land need not have been classified or eligible for classification as agricultural land during the ten years preceding the year of assessment as required by subparagraph (I) of this paragraph (a).

(b) (I) Except as provided in subparagraph (II) of this paragraph (b), all other agricultural property that does not meet the definition set forth in paragraph (a) of this subsection (1.6) shall be classified as all other property and shall be valued using appropriate consideration of the three approaches to appraisal based on its actual use on the assessment date.

(II) On and after January 1, 2015, "all other agricultural property" includes greenhouse and nursery production areas used to grow food products, agricultural products, or horticultural stock for wholesale purposes only that originate above the ground.

(c) An assessor must determine, based on sufficient evidence, that a parcel of land does not qualify as agricultural land, as defined in subparagraph (IV) of paragraph (a) of this subsection (1.6), before land may be changed from agricultural land to any other classification.

(d) Notwithstanding any other provision of law to the contrary, property that is used solely for the cultivation of medical marijuana shall not be classified as agricultural land.

(2) "Assessor" means the elected assessor of a county, or his or her appointed successor, and, in the case of the city and county of Denver, such equivalent officer as may be provided by its charter, and, in the case of the city and county of Broomfield, such equivalent officer as may be provided by its charter or code.

(2.5) "Bed and breakfast" means an overnight lodging establishment, whether owned by a natural person or any legal entity, that is a residential dwelling unit or an appurtenance thereto, in which the innkeeper resides, or that is a building designed but not necessarily occupied as a single family residence that is next to, or directly across the street from, the innkeeper's residence, and in either circumstance, in which:

(a) Lodging accommodations are provided for a fee;

(b) At least one meal per day is provided at no charge other than the fee for the lodging accommodations; and

(c) There are not more than thirteen sleeping rooms available for transient guests.

(3) "Board" means the board of assessment appeals.

(3.1) "Commercial lodging area" means a guest room or a private or shared bathroom within a bed and breakfast that is offered for the exclusive use of paying guests on a nightly or weekly basis. Classification of a guest room or a bathroom as a "commercial lodging area" shall be based on whether at any time during a year such rooms are offered by an innkeeper as nightly or weekly lodging to guests for a fee. Classification shall not be based on the number of days that such rooms are actually occupied by paying guests.

(3.2) "Conservation purpose" means any of the following purposes as set forth in section 170 (h) of the federal "Internal Revenue Code of 1986", as amended:

(a) The preservation of land areas for outdoor recreation, the education of the public, or the protection of a relatively natural habitat for fish, wildlife, plants, or similar ecosystems; or

(b) The preservation of open space, including farmland and forest land, where such preservation is for the scenic enjoyment of the public or is pursuant to a clearly delineated federal, state, or local government conservation policy and where such preservation will yield a significant public benefit.

(3.3) "Controlled environment agricultural facility" or "CEA facility" means a nonresidential structure and related equipment and appurtenances that combines engineering, horticultural science, and computerized management techniques to optimize hydroponics, plant quality, and food production efficiency from the land's water for human or livestock consumption. The sole purpose of growing crops in a CEA facility is to obtain a monetary profit from the wholesale of plant-based food for human or livestock consumption.

(3.5) "Farm" means a parcel of land which is used to produce agricultural products that originate from the land's productivity for the primary purpose of obtaining a monetary profit.

(3.7) "Fee simple estate" means the largest possible estate allowed by law, an estate that has potentially infinite duration.

(4) "Fixtures" means those articles which, although once movable chattels, have become an accessory to and a part of real property by having been physically incorporated therein or annexed or affixed thereto. "Fixtures" includes systems for the heating, air conditioning, ventilation, sanitation, lighting, and plumbing of such building. "Fixtures" does not include machinery, equipment, or other articles related to a commercial or industrial operation which are affixed to the real property for proper utilization of such articles. In addition, for property tax purposes only, "fixtures" does not include security devices and systems affixed to any residential improvements, including but not limited to security doors, security bars, and alarm systems.

(4.3) "Forest land" means land of which at least ten percent is stocked by forest trees of any size and includes land that formerly had such tree cover and that will be naturally or artificially regenerated. "Forest land" includes roadside, streamside, and shelterbelt strips of timber which have a crown width of at least one hundred twenty feet. "Forest land" includes unimproved roads and trails, streams, and clearings which are less than one hundred twenty feet wide.

(4.4) "Forest management plan" means an agreement which includes a plan to aid the owner of forest land in increasing the health, vigor, and beauty of such forest land through use of forest management practices and which has been either executed between the owner of forest land and the Colorado state forest service or executed between the owner of forest land and a professional forester and has been reviewed and has received a favorable recommendation from the Colorado state forest service. The Colorado forest service shall annually inspect each parcel of land subject to a forest management plan to determine if the terms and conditions of such plan are being complied with and shall report by March 1 of each year to the assessor in each affected county the legal descriptions of the properties and the names of their owners that are eligible for the agricultural classification. The report shall also contain the legal descriptions of those properties and the names of their owners that no longer qualify for the agricultural classification because of noncompliance with their forest management plans. No property shall be entitled to the agricultural classification unless the legal description and the name of the owner appear on the report submitted by the Colorado state forest service. The Colorado state forest service shall charge a fee for the inspection of each parcel of land in such amount for the reasonable costs incurred by the Colorado state forest service in conducting such inspections. Such fee shall be paid by the owner of such land prior to such inspection. Any fees collected pursuant to this subsection (4.4) shall be subject to annual appropriation by the general assembly.

(4.5) "Forest management practices" means practices accepted by professional foresters which control forest establishment, composition, density, and growth for the purpose of producing forest products and associated amenities following sound business methods and technical forestry principles.

(4.6) "Forest trees" means woody plants which have a well-developed stem or stems, which are usually more than twelve feet in height at maturity, and which have a generally well-defined crown.

(5) Repealed.

(5.5) (a) "Hotels and motels" means improvements and the land associated with such improvements that are used by a business establishment primarily to provide lodging, camping, or personal care or health facilities to the general public and that are predominantly used on an overnight or weekly basis; except that "hotels and motels" does not include:

(I) A residential unit, except for a residential unit that is a hotel unit;

(II) A residential unit that would otherwise be classified as a hotel unit if the residential unit is held as inventory by a developer primarily for sale to customers in the ordinary course of the developer's trade or business, is marketed for sale by the developer, and either has been held by the developer for less than two years since the certificate of occupancy for the residential unit has been issued or is not depreciated under the internal revenue code, as defined in section 39-22-103 (5.3), while owned by the developer; or

(III) A residential unit that would otherwise be classified as a hotel unit if the residential unit has been acquired by a lender or an owners' association through foreclosure, a deed in lieu of foreclosure, or a similar transaction, is marketed for sale by the lender or owners' association and is not depreciated under the internal revenue code, as defined in section 39-22-103 (5.3), while owned by the lender or owners' association.

(IV) Repealed.

(b) If any time share estate, time share use period, undivided interest, or other partial ownership interest in any hotel unit is owned by any non-hotel unit owner, then, unless a declaration or other express agreement binding on the non-hotel unit owners and the hotel unit owners provides otherwise:

(I) The hotel unit owners shall pay the taxes on the hotel unit not required to be paid by the non-hotel unit owners pursuant to subparagraph (II) of this paragraph (b).

(II) Each non-hotel unit owner shall pay that portion of the taxes on the hotel unit equal to the non-hotel unit owner's ownership or usage percentage of the hotel unit multiplied by the property tax that would have been levied on the hotel unit if the actual value and valuation for assessment of the hotel unit had been determined as if the hotel unit was residential real property.

(III) For purposes of determining the amount due from any hotel unit owner or non-hotel unit owner pursuant to subparagraph (II) of this paragraph (b), the assessor shall, upon the request of any hotel unit owner or non-hotel unit owner, calculate the property tax that would have been levied on the hotel unit if the actual value and valuation for assessment of the hotel unit had been determined as if the hotel unit were residential real property. A hotel unit owner or non-hotel unit owner may petition the county board of equalization for review of the assessor's calculation pursuant to the procedures set forth in section 39-10-114. Any appeal from the decision of the county board shall be governed by section 39-10-114.5.

(c) As used in this subsection (5.5):

(I) "Condominium unit" means a unit, as defined in section 38-33.3-103 (30), C.R.S., and also includes a time share unit.

(II) "Hotel unit owners" means any person or member of a group of related persons whose ownership and use of a residential unit cause the residential unit to be classified as a hotel unit.

(III) "Hotel units" means more than four residential unit ownership equivalents in a project that are owned, in whole or in part, directly, or indirectly through one or more intermediate entities, by one person or by a group of related persons if the person or group of related persons uses the residential units or parts thereof in connection with a business establishment primarily to provide lodging, camping, or personal care or health facilities to the general public predominantly on an overnight or weekly basis. "Hotel unit" means any residential unit included in hotel units. For purposes of this subparagraph (III):

(A) "Control" means the power to direct the business or affairs of an entity through direct or indirect ownership of stock, partnership interests, membership interests, or other forms of beneficial interests.

(B) "Related persons" means individuals who are members of the same family, including only spouses and minor children, or persons who control, are controlled by, or are under common control with each other. Persons are not related persons solely because they engage a common agent to manage or rent their residential units, they are members of an owners' association or similar group, they enter into a tenancy in common or a similar agreement with respect to undivided interests in a residential unit, or any combination of the foregoing.

(IV) "Project" means one or more improvements that contain residential units if the boundaries of the residential units are described in or determined by the same declaration, as defined in section 38-33.3-103 (13), C.R.S.

(V) "Residential unit" means a condominium unit, a single family residence, or a townhome.

(VI) "Non-hotel unit owner" means any owner of a time share estate, time share use period, undivided interest, or other partial ownership interest in any hotel unit who is not a hotel unit owner with respect to the hotel unit.

(VII) "Residential unit ownership equivalent" means:

(A) In the case of time share units, time share interests or time share use periods in one or more time share units that in the aggregate entitle the owner of such time share interests or time share use periods to three hundred sixty-five days of use in any calendar year or three hundred sixty-six days of use in any calendar year that is a leap year; and

(B) In the case of residential units other than time share units, undivided interests or other ownership interests in one or more such residential units that total one hundred percent. For purposes of this sub-subparagraph (B), any undivided interest or other ownership interest not stated in terms of a percentage of total ownership shall be converted to a percentage of total ownership based on the rights accorded to the holder of the undivided interest or other ownership interest.

(VIII) "Time share unit" means a condominium unit that is divided into time share estates as defined in section 38-33-110 (5) or that is subject to a time share use as defined in section 12-10-501 (4).

(5.6) "Hotels and motels" as defined in subsection (5.5) of this section shall not include bed and breakfasts.

(6) "Household furnishings" means that personal property, other than fixtures, in residential structures and buildings which is not used for the production of income at any time.

(6.2) "Hydroponics" means a system in which water soluble primary or secondary plant nutrients or micronutrients, or a combination of such nutrients, are placed in intimate contact with a plant's root system that is being grown in water or an inert supportive medium that supplies physical support for the roots.

(6.3) "Improvements" means all structures, buildings, fixtures, fences, and water rights erected upon or affixed to land, whether or not title to such land has been acquired.

(6.8) "Independently owned residential solar electric generation facility" means personal property that:

(a) Is located on residential real property;

(b) Is owned by a person other than the owner of the residential real property;

(c) Is installed on the customer's side of the meter;

(d) Is used to produce electricity from solar energy primarily for use in the residential improvements located on the residential real property; and

(e) Has a production capacity of no more than one hundred kilowatts.

(7) (Deleted by amendment, L. 2010, (HB 10-1267), ch. 425, p. 2198, § 1, effective August 11, 2010.)

(7.1) "Innkeeper" means the owner, operator, or manager of a bed and breakfast.

(7.2) "Inventories of merchandise and materials and supplies which are held for consumption by a business or are held primarily for sale" means those classes of personal property which are held primarily for sale by a business, farm, or ranch, including components of personal property to be held for sale, or which are held for consumption by a business, farm, or ranch, or which are rented for thirty days or less. For the purposes of this subsection (7.2), "personal property rented for thirty days or less" means personal property rented for thirty days or less which can be returned at the option of the person renting the property, in a transaction on which the sales or use tax is actually collected before being finally sold, whether or not such personal property is subject to depreciation. It is the purpose of the general assembly to exempt "personal property rented for thirty days or less" from property tax because of the similarity of such property to inventories of merchandise held by retail stores. Further, the general assembly intends this exemption to encompass a transaction under a rental agreement in which the customer pays rent in order to use an item for a brief period of time; it is not intended to encompass an equipment lease contract covering a specific period of time and which includes financial penalties for early cancellation. Except for "personal property rented for thirty days or less", the term "inventories of merchandise and materials and supplies which are held for consumption by a business or are held primarily for sale" does not include personal property which is held for rent or lease or is subject to an allowance for depreciation. For property tax years commencing on or after January 1, 1984, the term does include inventory which is owned by and which is in the possession of the manufacturer of such inventory unless:

(a) Such inventory is in the possession of the manufacturer after having previously been leased by the manufacturer to a customer; and

(b) Such manufacturer has not designated such inventory for scrapping, substantial reconditioning, renovating, or remanufacturing in accordance with its customary practices. For the purposes of this paragraph (b), normal maintenance shall not constitute substantial reconditioning, renovating, or remanufacturing.

(7.5) Repealed.

(7.7) "Livestock" includes all animals.

(7.8) "Manufactured home" means any preconstructed building unit or combination of preconstructed building units that:

(a) Includes electrical, mechanical, or plumbing services that are fabricated, formed, or assembled at a location other than the residential site of the completed home;

(b) Is designed and used for residential occupancy in either temporary or permanent locations;

(c) Is constructed in compliance with the "National Manufactured Housing Construction and Safety Standards Act of 1974", 42 U.S.C. sec. 5401 et seq., as amended;

(d) Does not have motive power;

(e) Is not licensed as a vehicle; and

(f) Is eligible for a certificate of title pursuant to part 1 of article 29 of title 38, C.R.S.

(7.9) "Minerals in place" means, without exception, metallic and nonmetallic mineral substances of every kind while in the ground.

(8) "Mobile home" means a manufactured home built prior to the adoption of the "National Manufactured Housing Construction and Safety Standards Act of 1974", 42 U.S.C. sec. 5401 et seq., as amended.

(8.3) "Modular home" means any preconstructed factory-built building that:

(a) Is ineligible for a certificate of title pursuant to part 1 of article 29 of title 38, C.R.S.;

(b) Is not constructed in compliance with the "National Manufactured Housing Construction and Safety Standards Act of 1974", 42 U.S.C. sec. 5401 et seq., as amended; and

(c) Is constructed in compliance with building codes adopted by the division of housing in the department of local affairs.

(8.4) "Natural cause" means fire, explosion, flood, tornado, action of the elements, act of war or terror, or similar cause beyond the control of and not caused by the party holding title to the property destroyed.

(8.5) "Not for private gain or corporate profit" means the ownership and use of property whereby no person with any connection to the owner thereof shall receive any pecuniary benefit except for reasonable compensation for services rendered and any excess income over expenses derived from the operation or use of the property and all proceeds from the sale of the property of the owner shall be devoted to the furthering of any exempt purpose.

(8.6) (a) "Nursing home" means a nursing care facility, regardless of a resident's length of stay, that is licensed by the department of public health and environment under section 25-1.5-103 (1) and that meets the definition of a nursing care facility as set forth in the department of public health and environment regulations, including a nursing care facility that provides convalescent care or rehabilitation services such as physical and occupational therapy.

(b) As used in this subsection (8.6), "nursing care facility" means a licensed health care entity that is planned, organized, operated, and maintained to provide supportive, restorative, and preventative services to persons who, due to physical or mental disability, require continuous or regular inpatient nursing care.

(8.7) "Perpetual conservation easement" means a conservation easement in gross, as described in article 30.5 of title 38, C.R.S., that qualifies as a perpetual conservation restriction pursuant to section 170 (h) of the federal "Internal Revenue Code of 1986", as amended, and any regulations issued thereunder.

(9) "Person" means natural persons, corporations, partnerships, limited liability companies, associations, and other legal entities which are or may become taxpayers by reason of the ownership of taxable real or personal property.

(10) "Personal effects" means such personal property as is or may be worn or carried on or about the person, and such personal property as is usually associated with the person or customarily used in personal hobby, sporting, or recreational activities and which is not used for the production of income at any time.

(11) "Personal property" means everything that is the subject of ownership and that is not included within the term "real property". "Personal property" includes machinery, equipment, and other articles related to a commercial or industrial operation that are either affixed or not affixed to the real property for proper utilization of such articles. Except as otherwise specified in articles 1 to 13 of this title, any pipeline, telecommunications line, utility line, cable television line, or other similar business asset or article installed through an easement, right-of-way, or leasehold for the purpose of commercial or industrial operation and not for the enhancement of real property shall be deemed to be personal property, including, without limitation, oil and gas distribution and transmission pipelines, gathering system pipelines, flow lines, process lines, and related water pipeline collection, transportation, and distribution systems. Structures and other buildings installed on an easement, right-of-way, or leasehold that are not specifically referenced in this subsection (11) shall be deemed to be improvements pursuant to subsection (6.3) of this section.

(12) "Political subdivision" means any entity of government authorized by law to impose ad valorem taxes on taxable property located within its territorial limits.

(12.1) Repealed.

(12.3) and (12.4) Repealed.

(12.5) "Professional forester" means any person who has received a bachelor's or higher degree from an accredited school of forestry.

(13) "Property" means both real and personal property.

(13.2) "Qualified organization" means a qualified organization as defined in section 170 (h)(3) of the federal "Internal Revenue Code of 1986", as amended.

(13.5) "Ranch" means a parcel of land which is used for grazing livestock for the primary purpose of obtaining a monetary profit. For the purposes of this subsection (13.5), "livestock" means domestic animals which are used for food for human or animal consumption, breeding, draft, or profit.

(14) "Real property" means:

(a) All lands or interests in lands to which title or the right of title has been acquired from the government of the United States or from sovereign authority ratified by treaties entered into by the United States, or from the state;

(b) All mines, quarries, and minerals in and under the land, and all rights and privileges thereunto appertaining; and

(c) Improvements.

(14.3) "Residential improvements" means a building, or that portion of a building, designed for use predominantly as a place of residency by a person, a family, or families. The term includes buildings, structures, fixtures, fences, amenities, and water rights that are an integral part of the residential use. The term also includes a manufactured home, a mobile home, a modular home, a tiny home, and a nursing home as defined in subsection (8.6) of this section, regardless of a resident's length of stay.

(14.4) (a) (I) "Residential land" means a parcel of land upon which residential improvements are located. The term also includes:

(A) Land upon which residential improvements were destroyed by natural cause after the date of the last assessment as established in section 39-1-104 (10.2);

(B) Two acres or less of land on which a residential improvement is located where the improvement is not integral to an agricultural operation conducted on such land; and

(C) A parcel of land without a residential improvement located thereon, if the parcel is contiguous to a parcel of residential land that has identical ownership based on the record title and contains a related improvement that is essential to the use of the residential improvement located on the identically owned contiguous residential land.

(II) "Residential land" does not include any portion of the land that is used for any purpose that would cause the land to be otherwise classified, except as provided for in section 39-1-103 (10.5).

(III) As used in this subsection (14.4):

(A) "Contiguous" means that the parcels physically touch; except that contiguity is not interrupted by an intervening local street, alley, or common element in a common-interest community.

(B) "Related improvement" means a driveway, parking space, or improvement other than a building, or that portion of a building designed for use predominantly as a place of residency by a person, a family, or families.

(b) (I) Notwithstanding section 39-1-103 (5)(c) and except as provided in subparagraph (II) of this paragraph (b), when residential improvements are destroyed, demolished, or relocated as a result of a natural cause on or after January 1, 2010, that, were it not for their destruction, demolition, or relocation due to such natural cause, would have qualified the land upon which the improvements were located as residential land for the following property tax year, the residential land classification shall remain in place for the year of destruction, demolition, or relocation and the two subsequent property tax years. The residential land classification may remain in place for additional subsequent property tax years, not to exceed a total of five subsequent property tax years, if the assessor determines there is evidence the owner intends to rebuild or locate a residential improvement on the land. For purposes of this determination, the assessor may consider, but shall not be limited to considering, a building permit or other land development permit for the land, construction plans for such residential improvement, efforts by the owner to obtain financing for a residential improvement, or ongoing efforts to settle an insurance claim related to the destruction, demolition, or relocation of the residential improvement due to a natural cause.

(II) The residential land classification of the land described in subparagraph (I) of this paragraph (b) shall change according to current use if:

(A) A new residential improvement or part of a new residential improvement is not constructed or placed on the land in accordance with applicable land use regulations prior to the January 1 after the period described in subparagraph (I) of this paragraph (b), unless the property owner provides documentary evidence to the assessor that during such period a good-faith effort was made to construct or place a new or part of a new residential improvement on the land but that additional time is necessary;

(B) The assessor determines that the classification at the time of destruction, demolition, or relocation as a result of a natural cause was erroneous; or

(C) A change of use has occurred. For purposes of this sub-subparagraph (C), a change of use shall not include the temporary loss of the residential use due to the destruction, demolition, or relocation as a result of a natural cause of the residential improvement.

(c) (I) Notwithstanding section 39-1-103 (5)(c) and except as provided in subsection (14.4)(c)(II) of this section, when residential improvements are destroyed, demolished, or relocated on or after January 1, 2018, that, were it not for their destruction, demolition, or relocation, would have qualified the land upon which the improvements were located as residential land for the following property tax year, the residential land classification shall remain in place for the year of destruction, demolition, or relocation and one subsequent property tax year if the assessor determines there is evidence that the owner intends to rebuild or locate a residential improvement on the land. For purposes of this determination, the assessor may consider, but is not limited to considering, a building permit or other land development permit for the land, construction plans for such residential improvement, or efforts by the owner to obtain financing for a residential improvement.

(II) The residential land classification of the land described in subsection (14.4)(c)(I) of this section shall change according to current use if:

(A) A new residential improvement or part of a new residential improvement is not constructed or placed on the land in accordance with applicable land use regulations prior to the January 1 after the period described in subsection (14.4)(c)(I) of this section;

(B) The assessor determines that the classification of the land at the time of the destruction, demolition, or relocation was erroneous; or

(C) A change of use has occurred. For purposes of this subsection (14.4)(c)(II)(C), a change of use shall not include the temporary loss of the residential use due to the destruction, demolition, or relocation of the residential improvement.

(14.5) "Residential real property" means residential land and residential improvements but does not include hotels and motels as defined in subsection (5.5) of this section.

(15) Repealed.

(15.5) (a) "School" means:

(I) An educational institution having a curriculum comparable to that of a publicly supported elementary or secondary school or college, or any combination thereof, and requiring daily attendance; or

(II) An institution that is licensed as a child care center pursuant to part 3 of article 5 of title 26.5 that is:

(A) Operated by and as an integral part of a not-for-profit educational institution that meets the requirements of subparagraph (I) of this paragraph (a); or

(B) A not-for-profit institution that offers an educational program for not more than six hours per day and that employs educators trained in preschool through eighth grade educational instruction and is licensed by the appropriate state agency and that is not otherwise qualified as a school under this paragraph (a) or as a religious institution.

(b) "School" includes any educational institution that meets the requirements set forth in subparagraph (I) or (II) of paragraph (a) of this subsection (15.5), even if such educational institution maintains hours of operation in excess of the minimum hour requirements of section 22-32-109 (1)(n)(I), C.R.S.

(16) "Taxable property" means all property, real and personal, not expressly exempted from taxation by law.

(16.3) "Tiny home" means a tiny home, as defined in section 24-32-3302 (35), that is certified by the division of housing in the department of local affairs to be designed for long-term residency and that is not registered in accordance with article 3 of title 42.

(17) "Treasurer" means the elected treasurer of a county or his or her appointed successor, and, in the case of the city and county of Denver, such equivalent officer as may be provided by its charter, in the case of the city and county of Broomfield, such equivalent officer as may be provided by its charter or code, and in the case of any home rule county, the treasurer or such equivalent officer as provided by its charter.

(18) "Works of art" means those items of personal property that are original creations of visual art, including, but not limited to:

(a) Sculpture, in any material or combination of materials, whether in the round, bas-relief, high relief, mobile, fountain, kinetic, or electronic;

(b) Paintings or drawings;

(c) Mosaics;

(d) Photographs;

(e) Crafts made from clay, fiber and textiles, wood, metal, plastics, or any other material, or any combination thereof;

(f) Calligraphy;

(g) Mixed media composed of any combination of forms or media; or

(h) Unique architectural embellishments.
C.R.S. § 39-22-4702 — CO Code / Title 39 / Article 22 / Part 47 / Section 39-22-4702
39-22-4702. Legislative declaration
Status: in_force

39-22-4702. Legislative declaration. The general assembly declares that the purpose for allowing taxable income to be reduced by earnings from a first-time home buyer savings account is to encourage first-time home ownership through incentivizing saving for a down payment and closing costs because of the significant financial and civic benefits home ownership provides for our state.
C.R.S. § 39-4-108 — CO Code / Title 39 / Article 4 / Section 39-4-108
39-4-108. Complaint - hearing - decision
Status: in_force

39-4-108. Complaint - hearing - decision. (1) Any public utility, being of the opinion that the actual value of its property and plant as determined by the administrator is illegal, erroneous, or not uniform with the actual value of like property similarly situated, as determined by the administrator, may, no later than July 15, file a petition or complaint with the administrator, setting forth such illegality, error, or lack of uniformity.

(2) Any assessor or board of county commissioners, being of the opinion that the actual value of the property and plant of any public utility as determined by the administrator is illegal, erroneous, or not uniform with the actual value of like property similarly situated, as determined by the administrator, or that the amount of valuation of any public utility has not been correctly apportioned among the counties entitled thereto may, no later than July 15, file a petition or complaint with the administrator setting forth such illegality, error, lack of uniformity, or incorrect apportionment.

(3) Upon the filing of any petition or complaint provided for in this section, the administrator shall cause notice of such filing to be given to the assessor and the board of county commissioners of any county directly affected and to any public utility directly affected, as may appear from such petition or complaint. Such notice shall be mailed at least five days prior to the meeting with the administrator at which such petition or complaint will be heard.

(4) The administrator shall, on the first working day after notices of valuation are mailed and on succeeding days if necessary, hear all such petitions and complaints. In case there are several petitions or complaints filed involving like questions, the same may be consolidated for the purpose of hearing and determination. The administrator shall hear all evidence presented and listen to arguments touching upon the matters concerning which the petition or complaint was filed. He shall have power to subpoena and compel the attendance of witnesses and to require the production of any books or records deemed necessary to arrive at a proper determination of the matter. Upon good cause, any hearing may be adjourned from time to time, but in no event beyond July 27. Hearings conducted under this section shall be informal, and a verbatim record need not be made, as required under section 24-4-105 (13), C.R.S.

(5) The administrator shall render his decision upon any petition or complaint, in writing, no later than August 1 and shall transmit a copy thereof to all parties affected.

(6) If the administrator grants the petition, in whole or in part, the administrator shall make the appropriate corrections or changes in the valuation of such public utility, or in the apportionment thereof, and shall certify the same to the assessor of the county affected thereby. Such decision shall control all proceedings thereafter, the same as though originally certified by the administrator.

(7) If the administrator denies the petition, in whole or in part, all costs and expenses incurred in conducting the hearing shall be chargeable to the petitioner and shall be enforceable and collectible as in the case of other claims and demands.

(8) Further proceedings brought by a party adversely affected by the administrator's decision shall be before the board of assessment appeals under the provisions of section 39-2-125 or before the Denver district court for a trial de novo with no presumption in favor of any pending valuation, and no judicial review shall be available to any party under the provisions of section 39-4-109 until the board or the district court has rendered its decision.
C.R.S. § 39-27-105.5 — CO Code / Title 39 / Article 27 / Part 1 / Section 39-27-105.5
39-27-105.5. Lien to secure payment of taxes - exemption - recovery
Status: in_force

39-27-105.5. Lien to secure payment of taxes - exemption - recovery. (1) (a) The state of Colorado and the department of revenue shall have a lien to secure the payment of the taxes, penalties, and interest imposed pursuant to this part 1 upon all the assets and property of the distributor owing the tax, including the stock in trade, business fixtures, and equipment owned or used by the distributor in the conduct of his or her business, as long as a delinquency in the payment of such tax continues. Such lien is prior to any lien of any kind whatsoever, including existing liens for taxes.

(b) Any distributor or person in possession shall provide a copy of any lease pertaining to the assets and property described in subsection (1)(a) of this section to the department of revenue within ten days after seizure by the department of such assets and property. The department shall verify that such lease is bona fide and notify the owner that such lease has been received by the department. The department shall use its best efforts to notify the owner of the real or personal property which might be subject to the lien created in subsection (1)(a) of this section. The real or personal property of an owner who has made a bona fide lease to a distributor is exempt from the lien created in subsection (1)(a) of this section if such property can reasonably be identified from the lease description or if the lessee is given an option to purchase in such lease and has not exercised such option to become the owner of the property leased. This exemption is effective from the date of the execution of the lease. The exemption also applies if the lease is recorded with the county clerk and recorder of the county where the property is located or based or a memorandum of the lease is filed with the department of revenue on such forms as may be prescribed by said department after the execution of the lease at a cost for such filing of two dollars and fifty cents per document. Motor vehicles which are properly registered in this state, showing the lessor as owner thereof, shall be exempt from the lien created in subsection (1)(a) of this section; except that said lien applies to the extent that the lessee has an earned reserve, allowance for depreciation not to exceed fair market value, or similar interest which is or may be credited to the lessee. Where the lessor and lessee are blood relatives or relatives by law or have twenty-five percent or more common ownership, a lease between such lessee and such lessor is not considered as bona fide for the purposes of this section.

(c) When the property of any licensee is seized upon any mesne or final process of any court of this state or when the business of any licensee is suspended by the action of creditors or put into the hands of any assignee, receiver, or trustee, then in all such cases all gasoline or special fuel taxes due from and payable by such licensee together with any penalties and interest thereon under this part 1 are considered and treated as preferred claims, and the state of Colorado is a preferred creditor and to be paid in full.

(d) (I) The tax imposed by this part 1, except when paid by the user to a vendor, together with penalties and interest thereon, constitutes a lien against any motor vehicle in connection with which the taxable use is made. The lien shall not be removed until the tax, together with penalties and interest, is paid or the motor vehicle subject to the lien is sold in payment of the tax, penalty, and interest. The lien is prior to all private liens and encumbrances and to the rights of a conditional vendor or other holder of the legal or equitable title to the motor vehicle.

(II) If ownership of a motor vehicle subject to lien under this subsection (1)(d) is transferred by operation of law or otherwise, registration or title with respect to the vehicle shall not be issued until the lien has been removed.

(2) If any person fails or refuses to comply with section 39-27-105, the executive director of the department of revenue may seek to enforce collection of the unpaid taxes, penalties, and interest in accordance with article 21 of this title 39.
C.R.S. § 39-30-103 — CO Code / Title 39 / Article 30 / Section 39-30-103
39-30-103. Zones established - review - termination
Status: repealed

39-30-103. Zones established - review - termination. (1) (a) Any municipality, county, or group of contiguous municipalities or counties may propose an area of such municipality, county, or group of municipalities or counties to be designated as an enterprise zone if the area has a population of no more than one hundred fifteen thousand persons as calculated pursuant to subsection (1.3) of this section, or one hundred fifty thousand persons as calculated pursuant to subsection (1.3) of this section if the area is a rural area, and meets at least one of the following additional criteria:

(I) An unemployment rate at least twenty-five percent above the state average for the most recent period of twelve consecutive months for which data is available from the United States census bureau or the department of local affairs;

(II) A population growth rate less than twenty-five percent of the state average rate for the most recent five-year period for which data are available from the United States census bureau or the department of local affairs, or, if such data is not available for any five-year period, for the most recent period of not less than five nor more than ten years for which such data is available; or

(III) A per capita income less than seventy-five percent of the state average for the most recent period for which data is available from the United States census bureau or the department of local affairs.

(b) Notwithstanding subsection (1)(a) of this section, on or after July 1, 2024, but before January 1, 2034, any municipality, county, or group of contiguous municipalities or counties may propose an area of such municipality, county, or group of municipalities or counties to be designated as an enterprise zone, so long as that area is a rural area designated as a tier one transition community as defined in section 8-83-502 (10).

(1.3) For the purposes of this article, the population of an enterprise zone shall be calculated using data from the United States census bureau or the department of local affairs at the county, municipal, or block levels. Such calculations that require the use of block level data shall include the entire population of each block in which the enterprise zone is located.

(1.5) As used in this section, "rural area" means:

(a) A county with a population of less than fifty thousand people, according to the most recently available population statistics of the United States bureau of the census;

(b) A municipality with a population of less than fifty thousand people, according to the most recently available population statistics of the United States bureau of the census, that is located ten miles or more from a municipality with a population of more than fifty thousand people; or

(c) The unincorporated part of a county located ten miles or more from a municipality with a population of more than fifty thousand people, according to the most recently available population statistics of the United States bureau of the census.

(2) (a) Except as provided in paragraph (c) of this subsection (2), the director of the Colorado office of economic development shall determine whether an area meets the criteria specified in subsection (1) of this section based on the most recent statistics available. Except as provided in paragraph (c) of this subsection (2), all decisions concerning the designation or termination of an enterprise zone or any portion of an enterprise zone shall be made by the Colorado economic development commission created in section 24-46-102, C.R.S., upon the recommendations of the director of the Colorado office of economic development.

(b) Repealed.

(c) (I) Commencing January 1, 2014, the director of the Colorado office of economic development and the Colorado economic development commission shall review the enterprise zone designations no less frequently than once every ten years to ensure that the existing zones continue to meet the criteria specified in subsection (1) of this section. The director and the commission may modify existing enterprise zone designations based on the review specified in this paragraph (c). If it is determined that existing enterprise zone designations need to be modified, such modification shall not be undertaken in a high unemployment period, but the director and the commission shall review the need for such modifications again as soon as the state is no longer in a high unemployment period. Any modification shall be reported to the legislative audit committee in conjunction with the annual presentation described in paragraph (b.7) of subsection (4) of this section and shall also be reported to the finance committees of the house of representatives and the senate, or any successor committees.

(II) For purposes of this section, "high unemployment period" means a period in which the average of the seasonally adjusted U-3 unemployment rate, or successor index, for Colorado as determined by the United States secretary of labor, for the most recent three months for which data for Colorado is published, equals or exceeds eight percent.

(3) In proposing an area for designation as an enterprise zone, the local government shall submit to the director of the Colorado office of economic development a development plan. This plan shall include information describing the following items:

(a) The boundaries of the proposed zone;

(b) The proposed zone's potential for business development and job creation;

(c) How the proposed zone will support and be consistent with maintenance of an economically viable central business district;

(d) The specific economic development objectives, to be achieved in the zone, including specific objectives that have measurable outcomes, and the measures that local government and the private sector will undertake to support those objectives;

(e) The person or agency to be designated as administrator of the proposed zone;

(e.5) How the specific economic development objectives of the zone that have measurable outcomes will be measured and the specific, verifiable data that will be used to measure such outcomes;

(f) Any other pertinent information the director of the Colorado office of economic development or the Colorado economic development commission may require.

(4) (a) The Colorado economic development commission, after consultation with the executive directors of the department of labor and employment and the department of revenue, may approve the designation of not more than sixteen areas as enterprise zones. The commission shall designate administrative entities for enterprise zones.

(b) The Colorado economic development commission shall work with the zone administrators of each enterprise zone to ensure that each zone has specific economic development objectives with outcomes that can be measured with specific, verifiable data. The director of the Colorado office of economic development shall require the zone administrators for each zone to submit annual documentation of efforts to improve conditions in areas designated as enterprise zones and the results of those efforts. Such annual documentation must include specific, verifiable data that can be used to measure whether the zone has achieved the specific economic development objectives for the zone that have measurable outcomes. In order for the commission to determine if the enterprise zones or portions thereof are achieving the specific economic development objectives submitted pursuant to this subsection (4)(b) or to subsection (3)(d) of this section, such annual documentation must include, but need not be limited to, the most recent statistics available for companies claiming enterprise zone tax credits on:

(I) The number of jobs created in the enterprise zone and the North American industry classification system (NAICS) code of each company reporting the creation of jobs within the zone;

(II) The number of jobs retained in the zone;

(III) The average annual compensation level, including benefits, of the jobs created or retained within the zone, categorized by full time permanent, part time, temporary, and contract jobs;

(IV) (Deleted by amendment, L. 99, p. 725, § 2, effective May 20, 1999.)

(V) The number of employees from outside the zone transferred to a facility within the zone;

(VI) (Deleted by amendment, L. 99, p. 725, § 2, effective May 20, 1999.)

(VII) An analysis of capital investment in the enterprise zone, including:

(A) The number and amount of qualified rehabilitation expenses made on rehabilitated vacant buildings;

(B) The amount of investment in qualifying property for which tax credits were claimed pursuant to section 39-30-104;

(VIII) The number of employees trained and the amount of investment in job training programs pursuant to section 39-30-104 (4);

(IX) The number of business facility employees for which a credit is claimed pursuant to section 39-30-105.1;

(X) The amount of investment tax credits claimed pursuant to section 39-30-104 and the amount of credits claimed pursuant to section 39-30-105.1;

(XI) Any other information reasonably required by the zone administrator, the director of the Colorado office of economic development, or the Colorado economic development commission to evaluate the effectiveness of each zone in accomplishing the specific measurable objectives of the zone.

(b.5) In addition to the annual documentation required pursuant to paragraph (b) of this subsection (4), the director of the Colorado office of economic development shall require the zone administrators for each enterprise zone to submit, to the extent practicable, annual documentation on the most recent statistics available on:

(I) Any change in the unemployment rate in the zone;

(II) Any change in per capita income in the zone;

(III) Any change in population in the zone;

(IV) The amount of all monetary or in-kind contributions for the purpose of implementing the economic development plan for the zone and the specific purpose of the contributions as provided in section 39-30-103.5.

(b.7) The director of the Colorado office of economic development, or the director's designee, on behalf of the Colorado economic development commission, shall submit an annual report to the general assembly on or before November 1 of each year summarizing the annual documentation submitted by zone administrators to the director of the Colorado office of economic development each year pursuant to paragraphs (b) and (b.5) of this subsection (4). The director of the Colorado office of economic development, or the director's designee, on behalf of the commission, shall make an annual presentation to the legislative audit committee that reviews and summarizes the information in the report submitted to the general assembly pursuant to this paragraph (b.7).

(c) (I) (Deleted by amendment, L. 2004, p. 364, § 1, effective August 4, 2004.)

(II) The state auditor shall submit a report to the governor and the general assembly, at the discretion of the state auditor and the legislative audit committee, evaluating the implementation of the enterprise zone program, making recommendations for statutory changes, if any, and including any other information requested by the governor or the general assembly. The evaluation shall be based upon the data included in the annual reports submitted by the director of the Colorado office of economic development on behalf of the Colorado economic development commission to the general assembly pursuant to paragraph (b.7) of this subsection (4) and objective verifiable data submitted by the enterprise zone administrators and maintained by the Colorado office of economic development, local governments, and enterprise zone administrators. The report shall also include information concerning the amounts of tax credits claimed and allowed under the program. For purposes of preparing the report required by this paragraph (c), the state auditor shall have access to all records and documents applicable to the program, whether maintained by the Colorado office of economic development, local governments, or enterprise zone administrators.

(c.5) Companies claiming enterprise zone credits shall provide information reasonably required by zone administrators, the director of the Colorado office of economic development, and the Colorado economic development commission to evaluate the effectiveness of each zone in accomplishing the measurable economic development objectives to be achieved in the zone. Such information shall be considered public records as defined in section 24-72-202 (6), C.R.S., shall be preserved for at least five years by the zone administrator who collected the information, who shall be the custodian of such information, and shall be made available by the zone administrator for inspection by any person at reasonable times. Nothing in this paragraph (c.5) shall be construed to require the disclosure to the public of any information that reveals the amount of compensation paid to any individual employee of a company, any Colorado income tax return, or any information regarding expenditures on research and development.

(d) Repealed.

(e) (Deleted by amendment, L. 2008, p. 216, § 2, effective March 26, 2008.)

(5) No later than March 1, 1997, the Colorado economic development commission created in section 24-46-102, C.R.S., shall report to the governor and the general assembly the results of a competitive benchmarking study, performed by a private consultant with experience in evaluation of state business assistance programs in multiple states, comparing Colorado's business climate, as it affects the retention and growth of basic employers and their investment, with the business climate of other states. In addition, the study shall assess long term economic development strategies, including but not limited to encouraging primary job creation throughout Colorado. Along with the report, the commission shall provide the governor and the general assembly its recommendations for additional study or modifications to Colorado's public policy concerning the state's business climate and its recommendations concerning specific business development and job creation objectives that should be used as minimum requirements or standards for future designation of enterprise zones or portions of enterprise zones consistent with statewide economic development targets and objectives.

(6) (a) When the termination of an enterprise zone or portion of an enterprise zone would prevent a taxpayer from qualifying for tax benefits under this article 30 and the taxpayer can identify job creation or capital expansion activities that were planned prior to the termination announcement and that would have otherwise entitled the taxpayer to claim tax benefits under section 39-30-103.5, 39-30-104, or 39-30-105.1, the enterprise zone administrator and the taxpayer shall jointly certify detailed information about such planned activities. A taxpayer who files such certification with the taxpayer's state income tax return may claim tax benefits otherwise actually earned up to the limits of such certified information for a period not to exceed the ten tax years following the year in which the enterprise zone or portion of an enterprise zone was terminated. It is the intent of this subsection (6) only to permit taxpayers to claim tax benefits on which they demonstrably relied in making business planning decisions, and, except as specifically provided in this subsection (6), nothing in this subsection (6) may be construed to authorize the commission or any enterprise zone administrator to grant tax benefits that have been repealed by the general assembly or to grant tax benefits in excess of the limits established by law.

(b) Notwithstanding any date restriction set forth in its text, any certification that was prepared pursuant to paragraph (a) of this subsection (6) prior to June 3, 2002, that extends the right of a taxpayer to claim tax benefits for the maximum period that was allowed by law at the time the certification was prepared, and that allows the taxpayer to claim tax benefits for one or more income tax years that end on or after June 3, 2002, shall extend the right of the taxpayer to claim tax benefits for the maximum period specified in paragraph (a) of this subsection (6).

(7) (a) Beginning on January 1, 2012, before a taxpayer engages in any activity for which the taxpayer intends to claim an income tax credit pursuant to section 39-30-104, 39-30-105.1, 39-30-105.5, or 39-30-105.6, an authorized company official of the taxpayer's business or the taxpayer who is the owner of the business shall submit a precertification form to the enterprise zone administrator as specified in this subsection (7). A taxpayer that completes an activity prior to January 1, 2012, for which the taxpayer intends to claim an income tax credit pursuant to this article 30 shall submit to the zone administrator on or before December 31, 2012, any information related to such completed activity that is necessary to receive certification from the zone administrator that the taxpayer's business is located in the enterprise zone. Nothing in this subsection (7) may be construed to require a taxpayer to submit a precertification form to the zone administrator for activities completed prior to January 1, 2012. In connection with the precertification, the taxpayer shall be required to:

(I) Obtain verification from the enterprise zone administrator that the taxpayer's business is located in an enterprise zone;

(II) Certify that the taxpayer is aware of the enterprise zone income tax credits allowed pursuant to this article;

(III) Certify that the enterprise zone income tax credits allowed pursuant to this article are a contributing factor to the start-up, expansion, or relocation of the taxpayer's business in the enterprise zone; and

(IV) Certify that the taxpayer acknowledges that the precertification required pursuant to this section is for activities that shall commence after the date that the precertification form is executed by the enterprise zone administrator through the end of the business's then-current income tax year.

(b) The department of revenue shall amend the current certification forms that a taxpayer is required to complete in connection with claiming an income tax credit pursuant to this article, to include a section through which the taxpayer or an authorized company official of the taxpayer's business may provide the information required pursuant to subparagraphs (II) to (IV) of paragraph (a) of this subsection (7).

(8) (a) Notwithstanding any other provision to the contrary, for tax years commencing on or after January 1, 2014, only a taxpayer that is engaged in a business that is legal under both state and federal law is eligible to claim a credit pursuant to this article 30, except as provided in subsection (8)(b) of this section.

(b) For tax years commencing on or after January 1, 2025, a business that holds a valid license pursuant to article 10 of title 44 is eligible to claim a credit pursuant to this article 30.
C.R.S. § 39-26-107 — CO Code / Title 39 / Article 26 / Part 1 / Section 39-26-107
39-26-107. Rules and regulations
Status: in_force

39-26-107. Rules and regulations. To provide uniform methods of adding the tax, or the average equivalent thereof, to the selling price, it is the duty of the executive director of the department of revenue to formulate and promulgate after hearing appropriate rules and regulations to effectuate the purpose of sections 39-26-105 to 39-26-113.
C.R.S. § 39-24-114 — CO Code / Title 39 / Article 24 / Section 39-24-114
39-24-114. Reciprocal application
Status: in_force

39-24-114. Reciprocal application. The provisions of this article relative to arbitration shall apply only to cases in which and so far as each of the states involved has a law identical or substantially similar to this article.
C.R.S. § 39-28.8-303 — CO Code / Title 39 / Article 28.8 / Part 3 / Section 39-28.8-303
39-28.8-303. Books and records to be preserved
Status: in_force

39-28.8-303. Books and records to be preserved. (1) Every retail marijuana cultivation facility shall keep at each licensed place of business complete and accurate electronic records for that place of business, including itemized invoices of all retail marijuana grown, held, shipped, or otherwise transported or sold to retail marijuana product manufacturing facilities, retail marijuana stores, or other retail marijuana cultivation facilities in this state.

(2) The records required by subsection (1) of this section shall include the names and addresses of retail marijuana product manufacturing facilities, retail marijuana stores, or other retail marijuana cultivation facilities to which unprocessed retail marijuana is sold or transferred, the inventory of all unprocessed retail marijuana on hand, and other pertinent papers and documents relating to the sale or transfer of unprocessed retail marijuana.

(3) A retail marijuana cultivation facility shall keep itemized invoices of all unprocessed marijuana transferred to retail marijuana stores owned or controlled by the owners of the retail marijuana cultivation facility.

(4) Every retail marijuana store shall keep at its place of business complete and accurate records to show that all retail marijuana received by the retail marijuana store was purchased from a retail marijuana cultivation facility. The retail marijuana store shall provide a copy of such records to the department if so requested. The department may establish the acceptable form of such records.
C.R.S. § 39-32-104 — CO Code / Title 39 / Article 32 / Section 39-32-104
39-32-104. Zones established
Status: in_force

39-32-104. Zones established. (1) Based upon the needs and assessment inventory and the evidence received during the public hearing conducted pursuant to section 39-32-103, the public utilities commission may designate rural areas in the state as rural technology enterprise zones. In designating such zones, the commission shall specify by rule, based upon the needs and assessment inventory and the evidence received at the public hearing, the specific technology infrastructure needs of each rural technology enterprise zone and the types of investments that will meet those needs. For each rural technology enterprise zone designated pursuant to this section, the commission shall further specify the following:

(a) The boundaries of the rural technology enterprise zone;

(b) The potential for increasing internet access within the rural technology enterprise zone;

(c) The specific technology infrastructure required to provide adequate internet access within the zone and any unique needs or characteristics of the zone;

(d) The specific investments in technology infrastructure that will qualify for income tax credits in the zone pursuant to section 39-32-105; and

(e) Any other information the commission deems pertinent.
C.R.S. § 39-22-604.5 — CO Code / Title 39 / Article 22 / Part 6 / Section 39-22-604.5
39-22-604.5. Withholding tax - transfers of Colorado real property - nonresident transferors
Status: in_force

39-22-604.5. Withholding tax - transfers of Colorado real property - nonresident transferors. (1) Except as otherwise provided in this section, in the case of any conveyance of a Colorado real property interest, the title insurance company or its authorized agent or any attorney, bank, savings and loan association, savings bank, corporation, partnership, association, joint stock company, trust, or unincorporated organization or any combination thereof, acting separately or in concert, that provides closing and settlement services as defined herein shall be required to withhold an amount equal to two percent of the sales price of the Colorado real property interest conveyed or the net proceeds resulting from such conveyance, whichever is less, when:

(a) The transferor is a person and either the return required to be filed with the secretary of the treasury pursuant to section 6045 (e) of the internal revenue code indicates or the authorization for the disbursement of the funds resulting from such transaction instructs that such funds be disbursed to a transferor with a last-known street address outside the boundaries of this state at the time of the transfer of the title to such Colorado real property interest or to the escrow agent of such transferor; or

(b) (I) The transferor is a corporation which immediately after the transfer of the title to the Colorado real estate interest has no permanent place of business in Colorado.

(II) For purposes of this section, a corporation has no permanent place of business in Colorado if all of the following apply:

(A) Such corporation is a foreign corporation;

(B) Such corporation does not qualify pursuant to law to transact business in Colorado; and

(C) Such corporation does not maintain and staff a permanent office in Colorado.

(2) No title insurance company or its authorized agent or any attorney, bank, savings and loan association, savings bank, corporation, partnership, association, joint stock company, trust, or unincorporated organization or any combination thereof, acting separately or in concert, that provides closing and settlement services as defined herein shall be required to withhold any amount pursuant to this section:

(a) If the sales price of the Colorado real property conveyed does not exceed one hundred thousand dollars;

(b) When the transferee is a bank or corporate beneficiary under a mortgage or beneficiary under a deed of trust and the Colorado real property interest is acquired in judicial or nonjudicial foreclosure or by deed in lieu of foreclosure;

(c) If the title insurance company or its authorized agent or any attorney, bank, savings and loan association, savings bank, corporation, partnership, association, joint stock company, trust, or unincorporated organization or any combination thereof, acting separately or in concert, that provides closing and settlement services as defined herein in good faith relies upon a written affirmation executed by the transferor, certifying under penalty of perjury one of the following:

(I) That the transferor, if a person, is a resident of Colorado;

(II) That the transferor, if a corporation, has a permanent place of business in Colorado;

(III) That the Colorado real property being conveyed is the principal residence of the transferor; or

(IV) That the transferor will not owe tax reasonably estimated to be due pursuant to this article from the inclusion of the actual gain required to be recognized on the transaction in the gross income of the transferor.

(3) Any title insurance company or its authorized agent which is required to withhold any amount pursuant to this section and fails to do so shall be liable for the greater of the following amounts for such failure to withhold:

(a) Five hundred dollars;

(b) Ten percent of the amount required to be withheld pursuant to this section, not to exceed two thousand five hundred dollars.

(4) (a) Amounts withheld and payments made in accordance with this section shall be reported and remitted to the department of revenue in such form and at such time as specified by rule and regulation of the executive director. Written affirmations executed pursuant to paragraph (c) of subsection (2) of this section shall be submitted to the department of revenue pursuant to procedures specified by rule and regulation of the executive director.

(b) All of the other provisions of this article shall apply to and be effective as to the provisions of this section to the extent to which they are not inconsistent with this section, and all of the remedies available to the department of revenue for the administration, assessment, enforcement, and collection of tax under other sections of this article and article 21 of this title shall be available to the department of revenue and shall apply to the amounts required to be deducted and withheld pursuant to the provisions of this section, and all of the penalties, both civil and criminal, shall apply to this section.

(5) Whenever a title insurance company or its authorized agent provides escrow services as directed by the parties in compliance with the withholding requirements of this section, such title insurance company or its authorized agent shall charge the parties pursuant to the rates in effect at the time and filed with the division of insurance of the department of regulatory agencies as required by law.

(6) For purposes of this section, unless the context otherwise requires:

(a) "Authorized agent" means a title insurance agent, as defined in section 10-11-102 (9), C.R.S., who is responsible for closing and settlement services in the transaction.

(b) "Closing and settlement services" means closing and settlement services as defined in section 10-11-102 (3.5), C.R.S., and section 38-35-125, C.R.S.

(c) "Colorado real property interest" means an interest in real property located in Colorado and defined in section 897 (c)(1)(A)(i) of the internal revenue code.

(d) "Escrow agent" means an agent for the purpose of receiving and transferring funds to a principal.

(e) "Person" means any individual, estate, or trust who may be subject to taxation pursuant to part 1 of this article.

(f) "Sales price" means the sum of all of the following:

(I) The cash paid or to be paid, but shall not include stated or unstated interest or original issue discount as determined pursuant to sections 1271 to 1275 of the internal revenue code;

(II) The fair market value of other property transferred or to be transferred;

(III) The outstanding amount of any liability assumed by the transferee to which the Colorado real property interest is subject immediately before and after the transfer.

(g) "Title insurance company" means the title insurance company, as defined in section 10-11-102 (10), C.R.S., responsible for closing and settlement services in the transaction.