C.R.S. § 24-36-402: Definitions.

As used in this part 4, unless the context otherwise requires:

(1) "Department" means the department of the treasury.

(2) "Division of insurance" means the division of insurance in the department of regulatory agencies created in section 10-1-103.

(3) "Premium tax liability" means the liability imposed by section 10-3-209 or 10-6-128, or, in the case of a repeal or reduction by the state of the liability imposed by section 10-3-209 or 10-6-128, any other tax liability imposed upon an insurance company by the state.

(4) (a) "Qualified taxpayer" means:

(I) An insurance company authorized to do business in Colorado that has premium tax liability owing to the state and that purchases a tax credit under this part 4; or

(II) An entity, other than an insurance company, authorized to do business in Colorado that contracts with the department to purchase a tax credit that remains unsold following the application process for insurance companies conducted by the department pursuant to section 24-36-403.

(b) "Qualified taxpayer" also includes an insurance company that receives or assumes a tax credit transferred in accordance with section 24-36-403 (7)(e) or 24-36-404 (5).

(5) "Tax credit" means the tax credit created in section 24-36-403.

(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.