SB16-155 Summary

• Effective July 1, 2016, exempts historic aircraft from Colorado sales and use tax when on loan for public display, demonstration, educational, or museum promotional purposes to publicly owned or nonprofit museums in the state.

• Historic aircraft must be used only for public display while within Colorado but away from the museum to which it is on loan.

• The host museum must be open to the public for at least 20 hours every week to qualify for the exemption.

• Defines "historic aircraft" as any original, restored, or replica heavier-than-air aircraft that is at least 35 years old.