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First Regular Session

Sixty-first General Assembly

LLS NO. 97­0616.01 MKD SENATE BILL 97­131

STATE OF COLORADO

BY SENATOR Lacy;

also REPRESENTATIVE Dean.

REVISED

FINANCE

A BILL FOR AN ACT

CONCERNING THE CLARIFICATION OF THE APPLICABILITY OF THE SALES AND USE TAX EXEMPTION FOR FUEL FOR RESIDENTIAL ENERGY USE BY OCCUPANTS OF RESIDENCES.

Bill Summary

(Note: This summary applies to this bill as introduced and does not necessarily reflect any amendments which may be subsequently adopted.)

Clarifies that the sales and use tax exemption for fuel for residential energy use applies to occupants of residences, whether such residences owned, leased, or rented by such occupants, regardless of the term of occupancy.

Be it enacted by the General Assembly of the State of Colorado:

SECTION 1.  39­26­114 (1) (a) (XXI), Colorado Revised Statutes, 1994 Repl. Vol., is amended to read:

39­26­114.  Exemptions ­ disputes ­ credits or refunds ­ repeal. (1) (a)  There shall be exempt from taxation under the provisions of this part 1 the following:

(XXI)  Effective July 1, 1980, all sales and purchases of electricity, coal, wood, gas, fuel oil, or coke sold, but not for resale, to occupants of residences, whether owned, leased, or rented by said occupants, for the purpose of operating residential fixtures and appliances which provide light, heat, and power for such residences. For the purposes of this subparagraph (XXI), "gas" includes natural, manufactured, and liquefied petroleum gas. FOR PURPOSES OF THIS SUBPARAGRAPH (XXI), FOR SALES AND PURCHASES OF ELECTRICITY, COAL, WOOD, GAS, FUEL OIL, OR COKE OCCURRING ON AND AFTER JULY 1, 1997, "RESIDENCE" INCLUDES INDIVIDUALLY OWNED CONDOMINIUM UNITS, REGARDLESS OF THE RENTAL PERIOD.

SECTION 2.  Effective date.  This act shall take effect at 12:01 a.m. on the day following the expiration of the ninety­day period after final adjournment of the general assembly that is allowed for submitting a referendum petition pursuant to article V, section 1 (3) of the state constitution; except that, if a referendum petition is filed against this act or an item, section, or part of this act within such period, then the act, item, section, or part, if approved by the people, shall take effect on the date of the official declaration of the vote thereon by proclamation of the governor.