CO HB1350

Expands the definition of "recovered materials" to include materials derived from scrap metal or end-of-life-cycle metals remanufactured into new metal stock meeting Institute of Scrap Recycling Industries standards.

Establishes "scrap metal processor" definition as a person engaged in processing scrap metals from a fixed location using machinery to manufacture ferrous and nonferrous metallic scrap into prepared grades.

Exempts specified equipment purchased by scrap metal processors from sales and use tax when used to manufacture commodity-grade recycled metals, including metal shears, shredders, conveyors, loaders, bailers, material handlers, excavators, magnets, grapples, and torches.

Appropriates $14,292 to the Department of Revenue for the 2018-19 fiscal year, including $14,007 for personal services (0.3 FTE) and $285 for operating expenses.

Effective January 1, 2019, for sales of machinery and machine tools occurring on or after that date, subject to referendum petition approval.