CO HB1325

Allows qualified clean technology and medical device taxpayers to claim a refund of state sales and use tax paid on tangible personal property used directly and predominantly in research and development, not to exceed $50,000 per calendar year.

Clarifies that the refund was available for the 2009 calendar year and can be claimed in the 2014 calendar year, resolving confusion caused by the original statutory trigger.

Limits the availability of the refund trigger mechanism to December 2012, preventing future revenue estimate checks from disqualifying the refund after that date.

Extends the repeal date of the refund program from July 1, 2014 to December 31, 2015, ensuring the refund remains available for the entire 2014 and 2015 calendar years.

Includes a safety clause declaring the act necessary for immediate preservation of public peace, health, and safety.