CO SB262

Exempts representative services provided by enrolled agents before the Internal Revenue Service, Department of Revenue, or Department of Labor and Employment from the definition of debt management services under Colorado law.

Enrolled agents must be authorized by and in good standing with the United States Department of Treasury and cannot be engaging in other debt management services to qualify for the exemption.

The exemption applies only when enrolled agents provide services in an enrolled agent-client relationship for tax purposes.

Exemptions do not apply to any person who provides debt management services on behalf of an enrolled agent unless that person is an employee of the enrolled agent.

Bill takes effect at 12:01 a.m. on August 7, 2013, unless subject to referendum petition, in which case it requires voter approval at the November 2014 general election.