Colorado Legislative Council Staff

LOCAL

CONDITIONAL FISCAL IMPACT

No State General Fund Impact

Drafting Number:

Prime Sponsor(s):

LLS 99-0540

Rep. Sinclair

Sen. Epps

Date:

Bill Status:

Fiscal Analyst:

February 3, 1999

House Local Government

Steve Tammeus (866-2756)

 

TITLE:            CONCERNING THE REPEAL OF THE PROHIBITION ON HOME RULE LOCAL GOVERNMENTS TO IMPOSE A USE TAX ON TAXABLE TANGIBLE PERSONAL PROPERTY THAT IS USED WITHIN A HOME RULE LOCAL GOVERNMENT MORE THAN THREE YEARS AFTER THE MOST RECENT SALE OF SUCH PROPERTY IF, WITHIN THE THREE YEARS FOLLOWING SUCH SALE, SUCH PROPERTY HAS BEEN SIGNIFICANTLY USED WITHIN THE STATE FOR THE PRINCIPAL PURPOSE FOR WHICH IT WAS PURCHASED.



Fiscal Impact Summary

FY 1999/2000

FY 2000/2001

State Revenues

General Fund

 


 

State Expenditures

General Fund

 

 

FTE Position Change

0.0 FTE

0.0 FTE

Other State Impact: None

Effective Date: 90 days after adjournment unless a referendum petition is filed

Appropriation Summary for FY 1999-2000: None

Local Government Impact: Allows any home rule city, or city and county, to elect to impose a use tax on the use or consumption of certain tangible personal property.



Summary of Legislation


            This bill revises statutes governing county and municipal use taxes. The bill repeals the prohibition on a home rule city, or city and county, of imposing a use tax with respect to the use or consumption of taxable tangible personal property that occurs more than three years after the most recent sale of the property, so long as within the three years following the sale, the property was used for the purpose it was purchased.





Local Government Impact


            This bill allows any home rule city, or city and county, to elect to impose a use tax on the use or consumption of certain tangible personal property, subject to when the personal property was purchased, and what the property was used for since it was purchased. There are approximately 67 home rule, or self-governing, municipalities and three home rule counties, including the City and County of Denver, in Colorado.


            This fiscal note cannot assess which home rule cities and counties may elect to impose such a use tax. The amount of any such taxes has not been estimated.



State Appropriations


            This bill will require no new state appropriations for FY 1999-2000.



Departments Contacted

 

            Local Affairs              Revenue