HB20-1304 Summary

• Clarifies that occasional sales of alcohol beverages through public auctions are exempt from liquor licensing and reporting requirements, but remain subject to the excise tax on alcohol beverages.

• Applies exemption to auctions where the seller obtained beverages through foreclosure of a lien, salvage operations, unclaimed property from previous owners, or charitable donations.

• Amends Colorado Revised Statutes section 44-3-106 to explicitly state that occasional auction sales of alcohol are subject to the excise tax specified in section 44-3-503.

• Addresses confusion that caused the exemption to be mistakenly identified as a tax expenditure by the Department of Revenue and incorrectly evaluated by the Office of the State Auditor.

• Takes effect 90 days after final adjournment of the general assembly (August 5, 2020, if sine die adjournment is May 6, 2020), unless subject to voter referendum.