CO HB1023

Creates a new Geographic Information System (GIS) database owned and maintained by the Department of Revenue to determine tax jurisdictions and calculate appropriate sales and use tax rates for individual addresses.

Provides vendors with a "held harmless" protection against tax liability to any taxing jurisdiction if they use the state GIS database or verified third-party data derived from it and errors in the database cause incorrect tax calculations.

Requires the Department of Revenue to notify vendors when the GIS database is online, tested, and verified as operational, and mandates the database maintain at least 95 percent accuracy based on a statistically valid sample of addresses.

Repeals the existing electronic database provisions in section 39-26-105.3 effective 90 days after the state GIS system is certified as operational by the Department of Revenue.

Directs the Department of Revenue to promulgate rules for administering the GIS database system in accordance with Colorado law.