Colorado § 42-1-225 Commercial vehicle enterprise tax fund - creation - repeal

Colorado Statutes

§ 42-1-225 — Commercial vehicle enterprise tax fund - creation - repeal

Colorado·Title 42 Vehicles and·Art. General and Administrative

(1)(a) The commercial vehicle enterprise tax fund is hereby created in the state treasury.

(b)(I) Prior to July 1, 2025, the fund consists of money collected and transmitted to the fund pursuant to section 42-4-1701 (4)(a)(II). The general assembly shall annually appropriate the money in the fund to cover the actual cost of administering sections 39-26-113.5 and 39-30-104 (1)(b). Money in the fund is continuously appropriated to the department of revenue for the payment of sales and use tax refunds pursuant to section 39-26-113.5. After receiving the statement pursuant to section 39-30-104 (1)(b)(VI), the state treasurer shall credit the total cost of the amount of the tax credits stated therein to the general fund.

(II)This subsection (1)(b) is repealed, effective July 1, 20

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(1) (a)
The commercial vehicle enterprise tax fund is hereby created in the state treasury.

(b) (I) Prior to July 1, 2025, the fund consists of money collected and
transmitted to the fund pursuant to section 42-4-1701 (4)(a)(II). The general
assembly shall annually appropriate the money in the fund to cover the actual cost
of administering sections 39-26-113.5 and 39-30-104 (1)(b). Money in the fund is
continuously appropriated to the department of revenue for the payment of sales
and use tax refunds pursuant to section 39-26-113.5. After receiving the statement
pursuant to section 39-30-104 (1)(b)(VI), the state treasurer shall credit the total
cost of the amount of the tax credits stated therein to the general fund.

(II) This subsection (1)(b) is repealed, effective July 1, 2026.

(c) On or after July 1, 2025, the fund consists of money collected and
transmitted to the fund pursuant to section 42-4-1701 (4)(a)(II). The general
assembly shall annually appropriate the money in the fund to cover the actual cost
of administering section 39-30-104 (1)(b). After receiving the statement pursuant to
section 39-30-104 (1)(b)(VI), the state treasurer shall credit the total cost of the
amount of the tax credits stated therein to the general fund. Any money remaining
in the commercial vehicle enterprise tax fund at the end of the fiscal year shall not
revert to the general fund.

(2) (a) and (b) Repealed.

(c) On July 1, 2025, and each July 1 thereafter, the department shall allocate
the fund balance, not including the amount appropriated to cover the actual cost of
administering section 39-30-104 (1)(b), to offset the income tax credit granted in
section 39-30-104 (1)(b).

Colorado § 42-1-225 (Commercial vehicle enterprise tax fund - creation - repeal) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 2010: Entire section added, (HB 10-1285), ch. 423, p. 2187, � 1, effective July 1. L. 2012: (1) amended, (SB 12-041), ch. 165, p. 576, � 1, effective May 9. L. 2024: Entire section amended, (HB 24-1036), ch. 373, p. 2529, � 17, effective August 7.