Second Regular Session
               Seventieth General Assembly
                    STATE OF COLORADO
                                                 INTRODUCED
                                                           
                                                           
 LLS NO. 16-0183.01 Gregg Fraser x4325   HOUSE BILL 16-1087
                    HOUSE SPONSORSHIP
 Becker J.,  Everett, Coram, Wilson, Nordberg, DelGrosso, Landgraf, Lundeen, Neville P.,
 Joshi, Sias, Brown
 
                   SENATE SPONSORSHIP
 (None),
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 House Committees
 Senate Committees
 
 
 State, Veterans, & Military Affairs
 
 
 
 Finance
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning an increase in the amount of sales tax revenue
            that may be retained by a retailer to cover the
            retailer's expense in collecting and remitting the tax.
       
       
                           Bill Summary
       
            (Note:  This summary applies to this bill as introduced and does
       not reflect any amendments that may be subsequently adopted. If this bill
       passes third reading in the house of introduction, a bill summary that
       applies to the reengrossed version of this bill will be available at
       http://www.leg.state.co.us/billsummaries.)
       
            A retailer that collects sales tax is currently allowed to retain 3
       1/3% of the tax reported to cover the expense of collecting and remitting
       the tax. This amount is know as the "vendor's fee". The bill increases this
       amount gradually over a period of 5 years until it equals 5 1/2% of the tax
       reported.
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  In Colorado Revised Statutes, 39-26-105, amend
       (1) (c) (II) (A) as follows:
            39-26-105.  Vendor liable for tax - repeal. (1) (c) (II)  Except as
       provided in section 39-26-105.3 (8) (b) (III):
            (A)  Except as provided in sub-subparagraph (B) of this
       subparagraph (II), the amount retained by a retailer to cover the
       retailer's expense in collecting and remitting tax pursuant to this section
       shall be on or before January 1, 2017, is three and one-third percent
       of all sales tax reported; the amount retained on or after January
       1, 2017, but before January 1, 2018, is three and one-half percent
       of all sales tax reported; the amount retained on or after
       January 1, 2018, but before January 1, 2019, is four percent of all
       sales tax reported; the amount retained on or after January 1,
       2019, but before January 1, 2020, is four and one-half percent of
       all sales tax reported; the amount retained on or after January
       1, 2020, but before January 1, 2021, is five percent of all sales tax
       reported; and the amount retained on or after January 1, 2021,
       is five and one-half percent of all sales tax reported.
            SECTION 2.  Act subject to petition - effective date. This act
       takes effect at 12:01 a.m. on the day following the expiration of the
       ninety-day period after final adjournment of the general assembly (August
       10, 2016, if adjournment sine die is on May 11, 2016); except that, if a
       referendum petition is filed pursuant to section 1 (3) of article V of the
       state constitution against this act or an item, section, or part of this act
       within such period, then the act, item, section, or part will not take effect
       unless approved by the people at the general election to be held in
       November 2016 and, in such case, will take effect on the date of the
       official declaration of the vote thereon by the governor.