SB 25-272

Senate Bill 25-272 creates a tax exemption for companies that buy materials needed to build, repair, or alter structures owned by regional transportation authorities. These structures are used to house employees and contractors of these authorities. The bill has been signed into law, meaning businesses involved in building such facilities for transportation authorities will no longer have to pay sales and use taxes on the construction materials they purchase. This affects contractors and subcontractors working with regional transportation authorities in Colorado.

Official Summary

The act establishes a sales and use tax exemption for contractors and subcontractors that purchase, store, use, or consume construction and building materials for use in the building, erection, alteration, or repair of structures owned and used by a regional transportation authority (authority) to house authority employees or contractors. The act authorizes an authority or an authority's board to build, erect, alter, or repair such structures for the purpose of housing employees or contractors of an authority. (Note: This summary applies to this bill as enacted.)

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