Colorado Revised Statutes Title 24. Government State § 24-36-116. Moneys paid under protest--disposition

(1) Moneys in the form of taxes, licenses, fees, or permits imposed by law which are paid under protest shall nonetheless be transmitted to the treasury department, which shall credit the same to an account designated “moneys paid under protest”.

(2) If any person paying such moneys under protest has not filed a claim for refund of the same in the manner provided by law or has not commenced an action in a court of competent jurisdiction for recovery of the same within one year from the date of payment or within one year from April 24, 1971, whichever date occurs later, then the amount so paid shall be credited forthwith to the fund or account to which it would have been credited had it not been paid under protest.

(3) If a claim for refund of such money is filed and subsequently disallowed and an action is not commenced in a court of competent jurisdiction for recovery of the same within six months from the date of such disallowance, then the amount so paid shall be credited forthwith to the fund or account to which it would have been credited had it not been paid under protest.