Colorado § 39-26-723 - Colorado wood products - tax preference performance statement - legislative declaration - repeal.

§ 39-26-723. Colorado wood products - tax preference performance statement - legislative declaration - repeal.

(1) For state fiscal years commencing on or after July 1, 2008, but prior to the state fiscal year commencing on July 1, 2020, and for state fiscal years commencing on or after July 1, 2021, but prior to the calendar year commencing on January 1, 2031, all sales, storage, and use of wood from salvaged trees killed or infested in Colorado by mountain pine beetles or spruce beetles, including but not limited to products such as lumber, furniture built from the salvaged trees, and wood chips or wood pellets generated from the salvaged trees, are exempt from taxation under the provisions of parts 1 and 2 of this article 26.

(2) For purposes of the exemption specified in subsection (1) of this section, unless the department of revenue determines pursuant to section 39-26-730 (2) that the form can be consolidated with another form or eliminated, a wholesaler shall certify on a form prescribed by the department of revenue that a product is from salvaged trees killed or infested in Colorado by mountain pine beetles or spruce beetles.

(2.5) In accordance with section 39-21-304 (1), which requires any bill that extends an expiring tax expenditure to include a tax preference performance statement as part of a statutory legislative declaration, the general assembly finds and declares that the purpose of the tax credit provided in subsection (1) of this section is to induce certain designated behavior by taxpayers by continuing to encourage the sale, storage, and use of wood from salvaged trees killed or infested in Colorado by mountain pine beetles or spruce beetles. The general assembly and the state auditor shall measure the effectiveness of the credit in achieving this purpose based on the value of exempt sales.

(3) This section is repealed, effective July 1, 2034.

Source: L. 2008: Entire section added, p. 1545, § 2, effective May 28. L. 2012: Entire section amended, (HB 12-1045), ch. 191, p. 765, § 1, effective May 21. L. 2021: (1) and (3) amended, (HB 21-1261), ch. 323, p. 1983, § 1, effective June 24. L. 2022: (2) amended, (HB 22-1039), ch. 54, p. 256, § 8, effective August 10. L. 2026: (1) and (3) amended and (2.5) added, (HB 26-1289), ch. 364, p. 2211, § 21, effective June 3.

Cross references: For the legislative declaration contained in the 2008 act enacting this section, see section 1 of chapter 332, Session Laws of Colorado 2008. For the legislative declaration in HB 26-1289, see section 1 of chapter 364, Session Laws of Colorado 2026.