CO HB1138

Department of Revenue must allow vehicle owners a credit for taxes, surcharges, and registration fees paid when disposing of a vehicle or converting it to Class F property before the registration expires.

Credit may be applied to a subsequent vehicle registration by the owner during the same registration period or assigned to the transferee, except dealers in new or used vehicles must account to the owner for assigned credits.

Credit is prorated based on months remaining in the registration period after the transfer or disposal, calculated from the first day of the month following the transfer through the last day of the month for which the vehicle was registered.

Credit does not apply to specific fees imposed under sections 42-3-301, 42-3-304 (5), (6), (7), (19), and (22), 42-3-312, and 42-3-313, and is only allowed if the total credit due exceeds $10.

Appropriates $7,200 to the Department of Revenue for fiscal year 2019-20 for DRIVES system maintenance and support; effective January 1, 2020, subject to referendum petition.