CO HB1024

Exempts construction and building materials used for public school construction from sales and use taxes levied by home rule cities, extending an existing exemption that previously applied only to state and non-home rule local governments.

Defines "public school" as schools serving grades kindergarten through twelve that derive support from general state or school district taxes, including charter schools and the Colorado School for the Deaf and the Blind.

Applies the exemption to all sales of construction and building materials to contractors and subcontractors for building, erection, alteration, or repair of public schools.

Appropriates $3,375 to the Department of Revenue for the 2022-23 fiscal year to implement the tax exemption through operating expenses for taxation services.

Takes effect 90 days after final adjournment of the general assembly, unless a referendum petition is filed, in which case it requires voter approval at the November 2022 general election; applies to sales made on or after the effective date.