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Code of Colorado Regulations eDocket
Official Publication of the State Administrative Rules (24-4-103(11) C.R.S.)

Details of Tracking Number  2017-00146


CCR details

Tracking Number 2017-00146
Type of Filing Permanent Rule
Department 200 Department of Revenue
Agency 201 Taxpayer Service Division - Tax Group
CCR Number 1 CCR 201-2
CCR Title INCOME TAX

Proposed rule

Notice Filed with SOS 04/12/2017
Rule ProposedRuleAttach2017-00146.doc
Additional Information AddInfoAttach2017-00146.doc
Statutory Authority The statutory basis for this rule is § 39-21-112(1), C.R.S., § 39-22-516.7 and §39-22-516.8, C.R.S.
Description of Subjects/Issues The purpose of this rule is to provide clarification regarding the innovative motor vehicle and innovative truck credits, the conditions necessary to qualify for the credit, and the process for assigning the credit. The rule also prescribes the date of purchase, lease, or modification for the purpose of both claiming and assigning the credit; clarifies titling and registration requirements for qualifying vehicles, trailers, and devices; clarifies the allowance of the credit in the case of multiple purchasers, lessors, or owners of the same qualifying vehicle, truck, or trailer; and distinguishes “original equipment manufacturer” from “conversion” in part by reference to regulations promulgated by the Environmental Protection Agency. Additionally, the rule prescribes, in the case of the early termination of the lease, the recapture of credits for leased trailers because the credit is initially calculated based upon the full contracted lease amount which would not, in the case of early termination, be fully paid. No similar recapture applies to purchases or leases of motor vehicles or trucks because the allowable credits for such motor vehicles and trucks are not determined by the cost incurred in the purchase or lease.
Purpose/Objective of Rule See attachment
Basis And Purpose BasisAndPurposeAttachment2017-00146.doc
Submitted in response to issues raised by COLS/OLLS? No
Is this rule adopted in response to recent legislation? No
Hearing Date 05/17/2017
Hearing Time 09:00 AM
Hearing Location 1375 Sherman Rm 127
Contact Name Phil Horwitz
Contact Title Director, Tax Policy Analysis
Contact Telephone 303.205.8422
Contact email phillip.horwitz@state.co.us

Adopted rule

Adopted Rules AdoptedRules02017-00146.doc
Redline Redline2017-00146.doc
Adopted Date 07/26/2017
AGO requested date 08/01/2017
Attorney General Opinion 08/14/2017
Colorado Register publication date 08/25/2017
Effective Date 09/14/2017
Inserted into CCR 09/13/2017