Payment of motor vehicle registration fees and specific ownership taxes in installments.

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(1) An owner of a motor vehicle, other than a trailer or semitrailer, classified as Class A or Class B personal property under section 42-3-106 (2)(b) may apply to the department to pay the twelve-month registration fee and specific ownership tax for the owner's fleet of such vehicles in installments. The department shall approve an application from a fleet owner to make payments for a fleet in installments if all the following requirements are met:

  1. The total of the twelve-month registration fee and the twelve-month specific ownership tax for the fleet equals one thousand dollars or more;

  2. The applicant pays one-third of the total amount due for registration and specificownership tax with the application;

  3. The fleet owner does not owe past due motor vehicle registration fees or specificownership taxes or outstanding penalties imposed for nonpayment of such fees or taxes;

  4. The owner is not denied the privilege of paying in installments pursuant to paragraph(b) of subsection (3) of this section; and

  5. The fleet owner has a performance bond issued by a surety company authorized to dobusiness in Colorado, a bank letter of credit, or a certificate of deposit in an amount equal to no less than the remaining amount of the annual registration fee and specific ownership tax that will be paid in installments. The performance bond, letter of credit, or certificate of deposit shall be payable to the department if the owner fails to pay the required installments.

(2) If an application to pay in installments is approved pursuant to subsection (1) of this section, the applicant shall pay the remainder of the registration fee and specific ownership tax in two equal installments as follows:

  1. The first installment on or before the first day of the fifth month of the registrationperiod; and

  2. The second installment on or before the first day of the ninth month of the registration period.

(3) (a) If a fleet owner fails to pay an installment under this section on or before the date the installment was due, the remaining amount of the unpaid registration fee and specific ownership tax for the fleet is due in full immediately. Such owner shall not operate the vehicles in such fleet on the highways of the state until the owner has paid such amount.

(b) If a fleet owner fails to pay an installment for a motor vehicle under this section within thirty days after the installment was due, the department may deny such owner the privilege of paying registration fees and specific ownership taxes in installments under this section.

  1. The provisions of this section do not modify the amount of the registration fee orspecific ownership tax owed by an owner for a motor vehicle during a registration period.

  2. The department may promulgate rules to implement the installment payment processestablished by this section.

Source: L. 2005: Entire article amended with relocations, p. 1093, § 2, effective August 8.

Editor's note: This section is similar to former § 42-3-109.5 as it existed prior to 2005, and the former § 42-3-110 was relocated to § 42-3-111.


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