§ 43-4-1505 — Fuels impact reduction fee

(1) In furtherance of its business
purpose, beginning September 1, 2023, the enterprise shall impose a fuels impact
reduction fee per gallon to be paid by a licensed fuel excise tax distributor within
Colorado and a licensed fuel distributor who ships products from outside of
Colorado to a point within Colorado. For the purpose of minimizing compliance
costs for distributors and administrative costs for the state, the department of
revenue shall collect the fuels impact reduction fee on behalf of the enterprise, and
a fuel distributor shall pay the fee to the department of revenue as required by
section 8-20-206.5 (8)(a).

(2) For a licensed fuel excise tax distributor within Colorado and a licensed
fuel distributor who ships products from outside of Colorado to a point within
Colorado, beginning September 1, 2023, the enterprise shall impose the fuels
impact reduction fee in a reasonable amount that is no more than six thousand one
hundred twenty-five millionths of a dollar per gallon of fuel products delivered for
sale or use in Colorado.

(3) As required by section 8-20-206.5 (8)(c), the executive director of the
department of revenue shall transmit any fuels impact reduction fee revenue it
collects to the state treasurer who shall credit the revenue, minus the costs to the
department of revenue for collecting the fee, to the fund.

Legislative History

Source: L. 2023: Entire part added, (SB 23-280), ch. 404, p. 2424, � 9, effective August 7.