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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateColorado
Reporting JurisdictionColorado
Jurisdiction type: State
Fiscal year ending In2019
Program nameReginal Tourism Act
Program purpose: Tourism development
Statutory authority: Sections 24-46-301 through 309 C.R.S.
Abating jurisdiction(s): State of Colorado
Applicable taxesSales Tax
Method of abatement: Tax diversion
Provisions for recapture: Recipients must follow the EDC resolution based on their application, and must build certain required elements and improvements and follow conditions established by the EDC. The provision for recapturing abated taxes is a formal decision by the EDC concluding the project has not commenced within five years.
Gross revenue loss: $8,767,200
Reimbursement / offset: $0
Net revenue loss: $8,767,200
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://osc.colorado.gov/financial-operations/financial-reports/acfr