CO HB1118

Permits the executive director of the department of revenue to deduct amounts owed by local taxing jurisdictions from future sales and use tax distributions when repayment to the state is required.

Allows the executive director and local taxing jurisdiction to enter into an intergovernmental agreement establishing repayment terms, with a maximum duration of 3 years.

Requires the executive director to notify the state controller of any agreement entered into under this provision.

Exempts local taxing jurisdiction repayments for prior sales and use tax distributions from the state controller's standard debt collection procedures under section 24-30-202.4, C.R.S.