HB15-1180

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HB15-1180 - Sales & Use Tax Refund Med & Clean Technology

Passed/Signed into Law
Concerning The Creation Of A State Sales And Use Tax Refund For Tangible Personal Property That Is Used In Colorado For Research And Development By A Qualified Medical Technology Or Clean Technology Taxpayer.

The bill recreates and reenacts, with amendments, a refund for state sales and use tax paid by a qualified medical technology or clean technology taxpayer (qualified taxpayer). A qualified taxpayer is a business entity that:

  • Employs 35 or fewer full-time employees in Colorado;
  • Is headquartered in Colorado or has more than 50% of its employees in Colorado; and
  • Conducts research and development of medical technology or clean technology.

From 2015 through 2019, a qualified taxpayer may claim a refund for state sales and use tax paid on tangible personal property used in Colorado directly and predominately in research and development of medical technology or clean technology. For this purpose, the definition for "clean technology" is expanded. The maximum refund a qualified taxpayer may receive for sales and use tax paid in a calendar year is $50,000. To receive a refund, a qualified taxpayer must submit an application to the department of revenue no later than April 1 of the following year and provide certain information to the department.

Latest update: May 26, 2015
05/26/2015 Governor Signed
05/08/2015 Signed by the President of the Senate
05/08/2015 Sent to the Governor
05/06/2015 Signed by the Speaker of the House
04/27/2015 Senate Third Reading Passed - No Amendments
04/24/2015 Senate Second Reading Special Order - Passed - No Amendments
04/24/2015 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole
04/21/2015 Senate Committee on Finance Refer Unamended to Appropriations
04/16/2015 Introduced In Senate - Assigned to Finance + Appropriations
04/15/2015 House Third Reading Passed - No Amendments
04/14/2015 House Second Reading Passed with Amendments - Committee
04/13/2015 House Second Reading Laid Over Daily - No Amendments
04/10/2015 House Committee on Appropriations Refer Unamended to House Committee of the Whole
02/26/2015 House Committee on Finance Refer Amended to Appropriations
02/12/2015 House Committee on Business Affairs and Labor Refer Unamended to Finance
01/29/2015 Introduced In House - Assigned to Business Affairs and Labor + Finance