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Colorado Revised Statutes Title 38. Property Real and Personal § 38-25.5-103.5. Notification requirements--tax delinquency notification fund--creation--immunity

Current as of January 01, 2022 | Updated by FindLaw Staff

(1) The department of revenue shall provide information to any lending institution that is an authorized person regarding the delinquent payment of sales and use tax, withholding tax, special fuels tax, gas tax, or aviation fuel tax by a borrower of funds from such institution provided such delinquency is in distraint warrant stage. The department shall honor any request made by a lending institution that is an authorized person to the extent set forth in the written authorization. Such provision of information shall be made in accordance with rules promulgated by the department, which shall include the following:

(a) The procedures pursuant to which lending institutions may request notification under this section, when such notification will be provided by the department, and the manner in which such information shall be provided;

(b) The amount of the filing fee needed to cover programming and other administrative costs, which may be adjusted periodically by the department and not necessarily at the beginning of the year;

(c) The level, type, or degree of delinquency subject to the disclosure provided by this section;

(d) Any other information needed for the implementation of this section.

(2) The level, type, or degree of delinquency subject to the disclosure provided by this section shall be set by the department of revenue.

(3) The department shall transmit any filing fees collected pursuant to this section to the state treasurer, who shall deposit such fees in the state treasury in the tax delinquency notification fund, which fund is hereby created. Moneys so deposited and all interest earned on such moneys shall be retained in the fund.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 38. Property Real and Personal § 38-25.5-103.5. Notification requirements--tax delinquency notification fund--creation--immunity - last updated January 01, 2022 | https://codes.findlaw.com/co/title-38-property-real-and-personal/co-rev-st-sect-38-25-5-103-5/

Read this complete Colorado Revised Statutes Title 38. Property Real and Personal § 38-25.5-103.5. Notification requirements--tax delinquency notification fund--creation--immunity on Westlaw. Westlaw subscription required.

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