(1) For tax years commencing on or after January 1, 2013, a person who buys a registration number under section 24-30-2206 is allowed a credit against the income taxes imposed by this article 22 for twenty percent of the portion of the purchase price that the Colorado disability funding committee, created in section 24-30-2203, certifies exceeds the registration number's fair market value. This is the value the Colorado disability funding committee expects from the sale of the registration number, not the cost of registering the vehicle.
(2) If the credit allowed by this section exceeds the tax otherwise due, the taxpayer may carry it forward for up to five years but shall claim it on the earliest possible subsequent tax return.
Source: L. 2013: Entire section added, (SB 13-170), ch. 254, p. 1347, § 4, effective May 23. L. 2019: (1) amended, (SB 19-241), ch. 390, p. 3477, § 56, effective August 2.