Colorado Revised Statutes Title 39. Taxation § 39-22-4703. Definitions

(1) “Account holder” means an individual who establishes an account with a financial institution that is designated as a first-time home buyer savings account in accordance with section 39-22-4704.

(2) “Department” means the department of revenue.

(3) “Eligible expenses” means a down payment and any closing costs included on a real estate settlement statement, including, but not limited to, appraisal fees, mortgage origination fees, and inspection fees.

(4) “Financial institution” means any state bank, state trust company, savings and loan association, federally chartered credit union doing business in Colorado, credit union chartered by the state of Colorado, national bank, broker-dealer, mutual fund, insurance company, or other similar financial entity qualified to do business in the state of Colorado.

(5) “First-time home buyer” means an individual who:

(6) “First-time home buyer savings account” or “account” means an account with a financial institution designated as such in accordance with section 39-22-4704(1).

(7) “Qualified beneficiary” means a first-time home buyer designated by an account holder for whom the money in a first-time home buyer savings account is or will be used for eligible expenses for the purchase of his or her primary residence in the state.