As used in this part 4, unless the context otherwise requires:
(1) "Department" means the department of the treasury.
(2) "Division of insurance" means the division of insurance in the department of regulatory agencies created in section 10-1-103.
(3) "Premium tax liability" means the liability imposed by section 10-3-209 or 10-6-128, or, in the case of a repeal or reduction by the state of the liability imposed by section 10-3-209 or 10-6-128, any other tax liability imposed upon an insurance company by the state.
(4) (a) "Qualified taxpayer" means:
(I) An insurance company authorized to do business in Colorado that has premium tax liability owing to the state and that purchases a tax credit under this part 4; or
(II) An entity, other than an insurance company, authorized to do business in Colorado that contracts with the department to purchase a tax credit that remains unsold following the application process for insurance companies conducted by the department pursuant to section 24-36-403.
(b) "Qualified taxpayer" also includes an insurance company that receives or assumes a tax credit transferred in accordance with section 24-36-403 (7)(e) or 24-36-404 (5).
(5) "Tax credit" means the tax credit created in section 24-36-403.
(6) "Tax credit sale proceeds" or "sale proceeds" means the money or other liquid asset acceptable to the state treasurer that a qualified taxpayer pays to the department that is deposited as specified in section 24-36-406.
Source: L. 2025, 1st Ex. Sess.: Entire part added, (HB 25B-1004), ch. 8, p. 26, § 1, effective August 28; (6) amended, (HB 25B-1006), ch. 10, p. 48, § 7, effective August 29. L. 2026: (4) amended, (HB 26-1346), ch. 274, p. 1545, § 1, effective June 1.