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HB18-1350

Machine Tool Sales Tax Exemption For Scrap Metal

Concerning the sales and use tax treatment of equipment used to manufacture new metal stock from scrap or end-of-life-cycle metals.
Session:
2018 Regular Session
Subject:
Fiscal Policy & Taxes

Purchases of machinery or machine tools to be used in Colorado directly and predominantly in manufacturing tangible personal property are currently exempt from state sales and use tax. Manufacturing is currently defined to include the processing of recovered materials. The bill expands the definition of recovered materials to include materials that have been derived from scrap metal or end-of-life-cycle metals for remanufacturing, reuse, or recycling into new metal stock that meets applicable standards for metal commodities sales.
(Note: This summary applies to this bill as introduced.)

Status

Introduced
Under Consideration

Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. T. Kraft-Tharp
Sen. K. Priola

Sponsor

Co-sponsor