Colorado Revised Statutes Title 39. Taxation § 39-21-304. Tax expenditure--tax preference performance statement--tax expenditure repeal requirement

(2) The tax preference performance statement must indicate one or more of the following general categories, by reference to the applicable category specified in this subsection (2), as the legislative purpose of the new tax expenditure:

(3) In addition to the general category specified in subsection (2) of this section, a tax preference performance statement must also provide detailed information regarding the legislative purpose of the new tax expenditure or of the extension of the expiring tax expenditure. The required detailed information must, at minimum, include clear, relevant, and ascertainable metrics and data requirements that allow the general assembly and the state auditor to measure the effectiveness of the tax expenditure in achieving the purpose designated under this section.

(4) On and after January 1, 2021, any bill that creates a new tax expenditure must include a repeal of the expenditure after a specified period of tax years and any bill that extends an expiring tax expenditure must extend the expenditure for a specified period of tax years. A bill that creates a new tax expenditure or extends an expiring tax expenditure may not establish the tax expenditure for an indefinite period of time.