SB030

                              First Regular Session
       
                           Sixty-second General Assembly

LLS NO. 99-0059.01 Bart Miller SENATE BILL 99-030

                                    STATE OF COLORADO

       BY SENATOR Matsunaka;
       also REPRESENTATIVE Kaufman.

       FINANCE
       APPROPRIATIONS

                                                            A BILL FOR AN ACT

101  CONCERNING   THE   EXEMPTION   OF   VOTER-APPROVED   MARKETING  AND

102  PROMOTION   TAXES   LEVIED   BY   A   LOCAL   MARKETING   DISTRICT  FROM

103  THE STATUTORY SEVEN PERCENT SALES OR USE TAX LIMIT.

                                                                   Bill Summary

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

                   Exempts     a     voter-approved     marketing     and     promotion    tax    levied    by
       a    local    marketing    district    from    the    overall    statutory    7%    sales    or    use    tax
       limit.



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

    2              SECTION       1.       29-2-108       (3),       Colorado       Revised      Statutes,      is

    3  amended to read:

    4              29-2-108.      Limitation      on     amount.     (3)     The     additional     two-tenths

    5  of    one    percent    tax    imposed    by    article    26.1    of    title    39,    C.R.S.,    any    tax

    6  imposed      pursuant      to      sections      29-25-112,     30-11-107.5,     and     30-11-107.7,

    7  C.R.S.,     and     the     additional     tax     authorized    by    section    30-20-604.5,    C.R.S.,

    8  if    imposed,    shall    be    exempt    from    the    seven    percent    limitation    imposed   by

    9  subsection (1) of this section.



       [ ] denotes HOUSE amendment. { } denotes SENATE amendment.

       Capital letters indicate new material to be added to existing statute.

       Dashes through the words indicate material to be deleted from existing statute.

       Page 2

    1              SECTION     2.     Safety     clause.     The     general     assembly    hereby    finds,

    2  determines,     and     declares     that     this     act     is     necessary     for     the     immediate

    3  preservation of the public peace, health, and safety.