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CO SB067
Bill
AI Summary
- Replaces manufacturer's suggested retail price (MSRP) with actual purchase price as the basis for calculating specific ownership tax for Class A, B, C, and D vehicles
- For Class A and B vehicles 16,000 pounds or less, eliminates the 75% MSRP calculation in favor of using actual purchase price
- For Class C and D vehicles, eliminates the 85% MSRP calculation in favor of using actual purchase price
- Requires Colorado motor vehicle dealers to furnish both actual purchase price and MSRP on title applications for new vehicles sold in the state
- Takes effect for vehicles sold on or after January 1, 2021, subject to a 90-day referendum petition period
Legislative Description
Vehicle Specific Ownership Tax Actual Price
Transportation & Motor Vehicles
Last Action
Senate Committee on Finance Postpone Indefinitely
2/4/2020
Committee Referrals
Finance1/9/2020
Full Bill Text
No bill text available