CO SB156

Removes the scheduled September 1, 2023 repeal of the Department of Revenue's authority to issue private letter rulings and information letters to taxpayers.

Clarifies that private letter rulings and information letters apply to taxes and fees administered by the department under specified Colorado statutes.

Requires the executive director to issue private letter rulings within 90 days of receipt of a written request, or notify the taxpayer of declination within 30 days, with ability to extend the deadline upon taxpayer approval.

Appropriates $53,644 to the Department of Revenue for the 2023-24 fiscal year from the private letter ruling fund to support an additional 0.8 full-time equivalent employee for taxation services.

Takes effect 90 days after final adjournment of the general assembly, unless subject to a referendum petition that requires voter approval at the November 2024 general election.