COLORADO DEPARTMENT OF REVENUE
STATEMENT OF BASIS AND PURPOSE

Re: Regulation 29-106(5) (1 CCR 201-10 – Severance Tax) – Repeal 
Rate of Coal Tax Shall Be Determined . . . 

Basis:

The statutory basis for this regulation is §39-21-112 

Purpose:

The purpose of this proposed repeal is to update the existing regulation 39-29-106 Rate of Tax on Coal by updating and incorporating the current information found in regulation 29-106(5).  The current text within regulation 29-106(5) would become a part of regulation 39-29-106, thereby requiring the repeal of regulation 29-106(5) upon approval of amended regulation 39-29-106.