As used in this part 4, unless the context otherwise requires:

1. (1) Department means the department of the treasury.
2. (2) Division of insurance means the division of insurance in the department of regulatory agencies created in section 10-1-103.
3. (3) Premium tax liability means the liability imposed by section 10-3-209 or 10-6-128, or, in the case of a repeal or reduction by the state of the liability imposed by section 10-3-209 or 10-6-128, any other tax liability imposed upon an insurance company by the state.
4. (4) Qualified taxpayer means an insurance company authorized to do business in Colorado that has premium tax liability owing to the state and that purchases a tax credit under this part 4. Qualified taxpayer also includes an insurance company that receives or assumes a tax credit transferred in accordance with section 24-36-403 (7)(e) or 24-36-404 (5).
5. (5) Tax credit means the tax credit created in section 24-36-403.
6. (6) Tax credit sale proceeds or sale proceeds means the money or other liquid asset acceptable to the state treasurer that a qualified taxpayer pays to the department that is deposited as specified in section 24-36-406.

Source: L. 2025, 1st Ex. Sess.: Entire part added, (HB 25B-1004), ch. 8, p. 26, § 1, effective August 28; (6) amended, (HB 25B-1006), ch. 10, p. 48, § 7, effective August 29.

Editor's note: Section 17(2) of chapter 10 (HB 25B-1006), Session Laws of Colorado 2025, First Extraordinary Session, provides that the act changing subsection (6) takes effect only if HB 25B-1004 becomes law and takes effect one day after the effective date of HB 25B-1004. HB 25B-1004 became law and took effect August 28, 2025.