Colorado § 29-2-207 Distributions

Colorado Statutes

§ 29-2-207 — Distributions

Colorado·Title 29 Government·Art. County and Municipal Sales or Use Tax

(1)The executive director shall make monthly distributions of sales or use tax collections to the appropriate liaison in each statutory local government, special district, and requesting home rule jurisdiction.

(2)(a) If any sales or use tax to be distributed pursuant to this part 2 is not distributed within sixty days after the processing date, the department shall add interest to the undistributed amount from the sixtieth day after the processing date until the date that the sales or use tax is distributed. The rate of interest is equal to the average rate, rounded to one-thousandth of a percent, being earned by the investment of money in the state treasury for the same period.

(b)The provisions of this subsection (2) do not apply if the distribution of sales or use tax was

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(1) The executive director shall make monthly
distributions of sales or use tax collections to the appropriate liaison in each
statutory local government, special district, and requesting home rule jurisdiction.

(2) (a) If any sales or use tax to be distributed pursuant to this part 2 is not
distributed within sixty days after the processing date, the department shall add
interest to the undistributed amount from the sixtieth day after the processing date
until the date that the sales or use tax is distributed. The rate of interest is equal to
the average rate, rounded to one-thousandth of a percent, being earned by the
investment of money in the state treasury for the same period.

(b) The provisions of this subsection (2) do not apply if the distribution of
sales or use tax was delayed as a result of unforeseen circumstances or caused
primarily by an entity other than the department, which determination the
department shall make in good faith.

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