C.R.S. Section 24-46-303

As used in this part 3, unless the context otherwise requires:


“Base year revenue” means the state sales tax revenue collected during the twelve-month period immediately prior to the month in which a regional tourism project is authorized, as determined by the department of revenue.


“Baseline growth rate” means the forecasted growth in state sales tax revenue above the base year revenue that would be collected in a proposed regional tourism zone if the proposed regional tourism project did not occur, as determined pursuant to section 24-46-304 (1.5).


“Commission” means the Colorado economic development commission created in section 24-46-102.


“Director” means the director of the Colorado office of economic development created in section 24-48.5-101.


“Eligible costs” means the costs of designing, constructing, financing, and maintaining eligible improvements designated by the commission as part of an approved regional tourism project, including but not limited to costs of engineering, construction engineering, surveying, construction surveying, construction labor and materials, design, planning, legal services, accounting, overhead or administrative staffing, financing, bond issuance or reissuance, underwriting, interest payments, loan origination fees, and similar necessary and convenient costs incurred by the financing entity in exercising its powers pursuant to this part 3. Moneys advanced by private developers within the regional tourism project to the financing entity for eligible improvements, whether pursuant to loans or contractual funding and reimbursement agreements, together with reasonable interest thereon, shall be eligible costs. In addition, the financing entity’s costs for purchasing eligible improvements constructed and owned by third parties either prior to or subsequent to designation of the regional tourism project shall be eligible costs. Costs and expenses incurred by the financing entity pursuant to section 24-35-118 and in complying with its annual report and audit obligations under this part 3 shall be eligible costs.


“Eligible improvements” means the specific improvements authorized by the commission as part of an approved regional tourism project, whether publicly or privately owned, including but not limited to storm sewer and sanitary sewer collection, conveyance, distribution, treatment, and related facilities and real property interests necessary or convenient thereto; potable and nonpotable water supplies and collection, conveyance, distribution, treatment, and related facilities and real property interests related thereto; roads; streets; state highways; rights-of-way; lighting; traffic signals and signs; direction and location signage and similar signage; land acquisition; surveying, engineering, soils testing, site planning, grading, and similar activities necessary or convenient for site preparation and development; park and recreational facilities; trails and paths; public safety facilities; landscaping; tourism and entertainment facilities; transportation facilities; surface and structured parking facilities; and any other facilities or improvements necessary to or convenient for the completion of an approved project.


“Financing entity” means the entity designated by the commission in connection with its approval of a regional tourism project to receive and utilize state sales tax increment revenue. A financing entity may be a metropolitan district created pursuant to title 32, C.R.S., an urban renewal authority created pursuant to part 1 of article 25 of title 31, C.R.S., or any regional tourism authority to be formed pursuant to this part 3.


“Financing term” means the aggregate period authorized by the commission pursuant to this part 3 within which the financing entity is authorized to receive and utilize state sales tax increment revenue to finance eligible costs.


“Gambling-related activities” means any betting, wagering, or payments made on or in connection with one or more games that qualify as gambling as defined in section 18-10-102 (2), or limited gaming as defined in section 9 of article XVIII of the state constitution and section 44-30-103 (22).


“Local government” means a city, county, city and county, or town or a group of contiguous cities, counties, city and counties, or towns.


“Regional tourism authority” or “authority” means a corporate body organized pursuant to this part 3 for the purposes, with the powers, and subject to the restrictions set forth in this part 3 and the formation of which has been approved by the commission pursuant to this part 3.


“Regional tourism project” or “project” means a development project that is planned to include a tourism or entertainment facility together with ancillary uses, structures, and improvements, and that has been approved by the commission pursuant to this part 3.


“Regional tourism zone” means the geographic area defined by the commission as part of an approved regional tourism project. A regional tourism zone shall not extend into the territorial boundaries of any local government except for the local government that is requesting the designation of the regional tourism zone. A regional tourism zone may be limited to portions of a local government and may include noncontiguous tracts or parcels of property.


“State sales tax increment revenue” means the portion of the revenue derived from state sales taxes, including any revenue attributable to the baseline growth rate, collected within a designated regional tourism zone in excess of the amount of base year revenue. “State sales tax increment revenue” does not include any additional revenue derived from state sales taxes that are due to the changes set forth in section 39-26-105 (1)(d), enacted in 2019, to the amount retained by a vendor to cover the vendor’s expenses in collecting and remitting sales tax.


“Tourism or entertainment facility” means a facility or group of interrelated facilities constructed primarily for use as a tourism or entertainment venue that is reasonably anticipated to draw a significant number of regional, national, or international patrons. A tourism or entertainment facility may include but need not be limited to museums, stadiums, arenas, major sports facilities, performing arts theaters, theme or amusement parks, conference center or resort hotels, or other similar venues. “Tourism or entertainment facility” shall not include any facility or group of interrelated facilities that directly or indirectly offer, make available, or facilitate in any manner one or more gambling-related activities.

Source: Section 24-46-303 — Definitions, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-24.­pdf (accessed Oct. 20, 2023).

Legislative declaration
Colorado economic development commission - creation - membership - definition
Commission - organization - meetings
Powers and duties of commission - repeal
Transferable income tax credits for certain businesses located in the state - definitions
Colorado economic development fund - creation - report - repeal
Reporting requirement - new jobs created
Economic development incentives - employers in compliance with federal law - legislative declaration
Local economic development - participation in federal programs
Performance-based incentive for new job creation - new jobs incentives cash fund
Performance-based incentive for film production in Colorado - film incentives cash fund - definitions
Repeal of part
Temporary extension of carry-forward provisions - Colorado job growth incentive tax credit - enterprise zone tax credits - definitions - repeal
Refundable income tax credits for certain businesses located in the state - definitions - repeal
Venture capital authority - board - staffing fund - bonds - enterprise fund - distribution of proceeds
Venture capital funds - managers - qualified investments - contract - distributions
Venture capital tax credits - contributions to authority - report
Administrative expenses
Office - report
Conflict of interest
Short title
Legislative declaration
Regional tourism project - application - requirements
Regional tourism project approval - director - commission - review
Regional tourism authority - board - creation - powers and duties
State sales tax increment revenue
Annual report - audit
Commencement of development
Issuance of bonds by a financing entity
Green check means up to date. Up to date

Current through Fall 2024

§ 24-46-303’s source at colorado​.gov