Current law allows a prorated credit for the taxes paid on a vehicle that is sold before the registration year ends. The credit is applied to vehicles subsequently registered. The bill broadens this credit to cover most registration fees. $7,200 is appropriated to the department of revenue from the Colorado DRIVES vehicle services account in the highway users tax fund to implement the bill.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)