CO HB1180

Allows qualified medical technology or clean technology taxpayers to claim a state sales and use tax refund up to $50,000 per calendar year for tangible personal property used in Colorado for research and development.

Defines qualified taxpayers as C corporations, partnerships, LLCs, S corporations, or sole proprietorships that employ 35 or fewer full-time employees and are headquartered in Colorado or have more than 50 percent of employees in Colorado.

Defines clean technology as products and technologies used in renewable energy generation, energy efficiency and production from any source, or that enhance extraction, collection, storage, and distribution of energy.

Defines medical technology as therapeutic or diagnostic machines or tools used to improve human or animal health.

Refund program applies to tax years 2015 through 2017, with applications submitted between January 1 and April 1 following the calendar year taxes were paid; the entire section repeals effective January 1, 2019.