HB 17-1103

House Bill 17-1103, which has been signed into law, provides a sales and use tax exemption for historic aircraft that are loaned to museums in Colorado for public display. This means that if a historic airplane is borrowed by a museum—whether it's publicly owned or nonprofit—and used only for educational purposes while on loan, the museum won't have to pay state taxes on this aircraft during its stay. The law applies when the borrowing museum is open to the public at least 20 hours per week. This exemption helps museums showcase historic aircraft without incurring additional costs, benefiting both the museums and visitors who can learn about aviation history.

Official Summary

Beginning on the effective date of the bill, the bill creates a state sales and use tax exemption for a historic aircraft that is on loan for public display, demonstration, educational, or museum promotional purposes (public display) in the state if: The historic aircraft is on loan for public display to a publicly owned or nonprofit museum in the state; The historic aircraft will be used only for public display while within the state but away from the museum to which the historic aircraft is on loan; and The museum to which the historic aircraft is on loan for public display is open to the public for at least 20 hours every week.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Votes