CO HB1303

Adds definition of "vacant land" to Colorado law as unimproved real property within a regional transportation authority's boundaries that has never generated sales tax revenue

Prohibits regional transportation authorities from levying sales tax on transactions occurring on property that was vacant land when annexed by a nonmember jurisdiction

Applies only to property annexed in accordance with Colorado law

Takes effect August 10, 2016, unless subject to referendum petition, in which case effectiveness depends on voter approval in November 2016 general election