As used in this part 5, unless the context otherwise requires:

1. (1) C corporation has the same meaning as in section 39-22-103 (2.5).
2. (2) Department means the department of the treasury.
3. (3) Income tax liability means the liability imposed by section 39-22-301.
4. (4) Qualified taxpayer means a C corporation authorized to do business in Colorado that has or will have an income tax liability owing to the state. Qualified taxpayer also includes a C corporation that receives or assumes a tax credit transferred in accordance with section 26-36-503 (7)(e).
5. (5) Tax credit means the tax credit created in section 24-36-503.
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. 32, § 2, effective August 28; (6) amended, (HB 25B-1006), ch. 10, p. 50, § 11, 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.