Colorado § 24-46-307 State sales tax increment revenue

Colorado Statutes

§ 24-46-307 — State sales tax increment revenue

Colorado § 24-46-307

Title 24Government

Art.Economic Development

This text of Colorado § 24-46-307 (State sales tax increment revenue) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 24-46-307 (2026).

Text

(1)In order to implement the collection of state sales tax increment revenue, the resolution adopted by the commission approving a regional tourism project shall state that state sales taxes, if any, levied and collected after the effective date of the commission's approval of the project shall be divided and distributed by the department of revenue as follows:

(a)The portion of state sales taxes collected within the boundaries of the regional tourism zone equal to the base year revenue shall be paid into the state treasury as such state sales taxes are normally collected and paid; and

(b)The portion of sales tax revenue in excess of the base year revenue shall be allocated to and, when collected, paid into a special fund established by the financing entity. The financing ent

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(1) In order to implement
the collection of state sales tax increment revenue, the resolution adopted by the
commission approving a regional tourism project shall state that state sales taxes,
if any, levied and collected after the effective date of the commission's approval of
the project shall be divided and distributed by the department of revenue as
follows:

(a) The portion of state sales taxes collected within the boundaries of the
regional tourism zone equal to the base year revenue shall be paid into the state
treasury as such state sales taxes are normally collected and paid; and

(b) The portion of sales tax revenue in excess of the base year revenue shall
be allocated to and, when collected, paid into a special fund established by the
financing entity. The financing entity shall segregate such revenue from other
moneys of the financing entity, if any, and shall utilize such sales tax revenue solely
to finance eligible costs incurred for the purpose of constructing the eligible
improvements and implementing the regional tourism project. The special fund may
be used, without limitation, to pay the principal of, the interest on, and any
premiums due in connection with the bonds of, loans or advances to, or
indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such
financing entity for financing or refinancing, in whole or in part, a regional tourism
project. Any excess state sales tax collections not allocated pursuant to this
paragraph (b) shall be paid into the funds of the state treasury.

(2) State sales tax increment revenue, together with any investment income
earned thereon, shall be construed and treated for all purposes as being assigned
to, the property of, and the revenue of the applicable financing entity and shall not
be construed or treated for any purpose as revenue or property of the state.