CO SB249

Creates a new "business disposal license" for businesses selling used motor vehicles they owned and used exclusively for business purposes, if sales do not exceed 20% of the business's gross revenue.

Vehicles sold under this license must have been owned for more than one year, titled in the business's name, have all related taxes paid, and cannot be designed primarily to carry passengers (with exceptions for vehicles carrying more than 10 passengers and trucks with enclosed cabs and open cargo areas).

Business disposers must maintain a physical Colorado place of business at a fixed address with at least one full-time employee and are subject to the same bonding requirements ($50,000), investigation procedures, and licensing board rules as other motor vehicle dealers.

Establishes grounds for denial, suspension, or revocation of a business disposal license including material misstatements in applications, violations of regulations, fraud, and criminal convictions for felonies or crimes under Colorado Title 18, Articles 3-5.

Appropriates $14,000 to the motor vehicle dealer licensing board for the 2019-20 fiscal year to implement the new licensing class.