Colorado Revised Statutes Title 42. Vehicles and Traffic § 42-1-225. Commercial vehicle enterprise tax fund--creation--repeal

(a)(I) Prior to July 1, 2025, the fund consists of money collected and transmitted to the fund pursuant to section 42-4-1701(4)(a)(II). The general assembly shall annually appropriate the money in the fund to cover the actual cost of administering sections 39-26-113.5 and 39-30-104(1)(b). Money in the fund is continuously appropriated to the department of revenue for the payment of sales and use tax refunds pursuant to section 39-26-113.5. After receiving the statement pursuant to section 39-30-104(1)(b)(VI), the state treasurer shall credit the total cost of the amount of the tax credits stated therein to the general fund.

(II) This subsection (1)(b) is repealed, effective July 1, 2026.

(2)(a)(I) On July 1, 2011, and each July 1 thereafter through July 1, 2024, the department shall allocate one-third of the fund balance, not including the amount appropriated to cover the actual cost of administering sections 39-26-113.5 and 39-30-104(1)(b), to make the sales tax refunds granted in section 39-26-113.5.

(II) This subsection (2)(a) is repealed, effective July 1, 2025.

(b)(I) On July 1, 2011, and each July 1 thereafter through July 1, 2024, the department shall allocate two-thirds of the fund balance, not including the amount appropriated to cover the actual cost of administering sections 39-26-113.5 and 39-30-104(1)(b), to offset the income tax credit granted in section 39-30-104(1)(b).

(II) This subsection (2)(b) is repealed, effective July 1, 2025.