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News & Press: Colorado Technology Industry

Legislative Results

Thursday, May 12, 2011   (0 Comments)
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Colorado Technology Association

May 12, 2011 - Legislative Update
Colorado Technology Association is proud of the focused efforts for our industry in this year’s Legislative Session, which concluded last night with a number of bills that are substantive for our industry’s future. In addition to providing you with the summary of our four top legislative initiatives, please join us in thanking all of the legislators who supported HB11-1293. Thank you also to the dozens of members of our community who testified, emailed or contacted legislators during this year’s session, as your voice made a difference in all of our efforts.

HB11-1293 Tax Tangible Software
♦Passed both the House and Senate, and is on the way to Gov. Hickenlooper for his signature by June 10 (members will be invited to the bill signing)! This was Colorado Technology Association’s main legislative priority, and we were proud to lead the efforts.

Benefits from the passage of this bill...
• Beginning July 1, 2012, clarifies the sales tax on software, and codifies what was known as SR7 for companies who use software in Colorado.
• Broadcasts a positive message that Colorado is "open for business” for technology and wants to retain and grow the technology industry.
• Enables thousands of people and companies in our communities to focus on growing Colorado’s economy.
• Encourages the adoption of technology to increase companies’ productivity and success.

Thank youHouse Majority Leader Amy Stephens (R-El Paso County), Representative Carole Murray (R-Castle Rock), Senator Cheri Jahn (D-Wheat Ridge), Senator Linda Newell (D-Littleton) and to the Speaker of the House Frank McNulty (R-Highlands Ranch) for including the bill in the budget agreement with Senate President Brandon Shaffer (D-Longmont).

HB11-1045 Angel Tax Credit Bill
♦Passed both the House and Senate, and is on the way to Governor Hickenlooper for his signature! This is a continued legislative effort for Colorado Technology Association, begun first in 2009.

Benefits from the passage of this bill...
• Continues the tax credit for investors in technology companies in Colorado.
• Confirms Colorado supports entrepreneurs, innovation and start-ups.

Thank youRepresentative John Kefalas (D-Fort Collins) and Senator Linda Newell (D-Littleton) for sponsoring this bill.

HB11-1265 Sales Tax Claims Refund Timeline
♦Passed both the House and Senate, and is on the way to Governor Hickenlooper for his signature! Colorado Technology Association supported this effort with a number of other associations.

Benefits from the passage of this bill...
• Eliminates the confusion caused from inconsistent guidance from the Colorado Department of Revenue regarding the amount of time for refunds.
• Ensures our members and companies are provided adequate time (3 years) to file for refunds for sales tax over payments.

Thank youHouse Majority Leader Amy Stephens (R-El Paso County), and Senator Michael Johnston (D-Denver), who also chair the Senate Finance Committee.

SB11-223 Vendor’s Fee Allowance
♦Signed into law by Governor John Hickenlooper on May 5, 2011 to go into effect beginning July 1, 2011. Colorado Technology Associaton supported this effort with a number of other associations.

Benefits from the passage of this bill...
• Partially reinstates the fee that vendors were paid to compensate them for collecting and submitting sales tax to the Colorado Department of Revenue.
• This new law will provide a 2.2% vendor fee reimbursement made on or after 7.1.2011; then will increase that to 3.3% of sales tax collected after 7.1.2014.

Thank you Senators Hodge, Steadman, Lambert; Representatives Gerou, Acree, Balmer, Barker, Becker, Beezley, Bradford, Coram, DelGrosso, Ferrandino, Gardner B., Holbert, Joshi, Kerr J., Liston, Looper, Murray, Nikkel, Priola, Ramirez, Scott, Sonnenberg, Stephens, Summers, Waller, McNulty.

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