1. (1) As used in this section:

   1. (a) "Buyback purchaser" means a person who buys a Procurement Item from the CRAU to which the person previously sold the Procurement Item.

   2. (b) "Excess repurchase amount" means the difference between:

      1. (i) the amount a buyback purchaser pays to the CRAU to purchase a Procurement Item that the buyback purchaser previously sold to the CRAU; and
      2. (ii) the amount the CRAU paid to the buyback purchaser to purchase the Procurement Item.

2. (2) The CRAU that sells a Procurement Item to a buyback purchaser for an amount that exceeds the amount the CRAU paid for the Procurement Item:

   1. (a) shall require the buyback purchaser to pay cash for the Procurement Item;
   2. (b) may not accept the excess repurchase amount in the form of a credit, discount, or other incentive on a future purchase that the CRAU makes from the buyback purchaser; and
   3. (c) may not use the excess repurchase amount to acquire an additional Procurement Item from the person who paid the excess repurchase amount.

KEY: Colorado, procurement, process

Date of Last Change: December 28, 2021

Authorizing, and Implemented or Interpreted Law: 63M-14-206