CO SB188

Repeals income tax credits for innovative motor vehicles and innovative trucks for purchases and leases entered into on or after January 1, 2018.

Requires the state controller to credit tax revenue retained from the repeals to the highway users tax fund for fiscal years 2017-18 through 2020-21.

Submits a ballot question to voters at the November 2017 election asking whether to increase state tax revenue by approximately $7 million annually through 2020-21 by repealing these credits and dedicating the revenue to the highway users tax fund.

Allows the estimated tax revenue from the repeals to be collected and spent notwithstanding TABOR (Taxpayers' Bill of Rights) limitations if voters approve.

Takes effect only if voters approve the ballot measure in November 2017; if rejected, the bill is repealed effective February 1, 2018.