Colorado HB1346 allows the transfer of unsold insurance premium tax credits to insurance companies.

Colorado HB1346 amends existing law to allow the transfer of unsold insurance premium tax credits to insurance companies. An entity that contracts with the department to purchase tax credits may transfer the tax credits once to an insurance company. The insurance company is not permitted to further transfer the tax credits following the transfer to the insurance company. The qualified taxpayer that originally purchased the credit and the resulting entity shall notify the department in writing of the transfer or assumption of the credit in accordance with procedures adopted by the department.

Colorado HB1346 allows the transfer of unsold insurance premium tax credits to insurance companies.

Colorado HB1346 amends existing law to allow the transfer of unsold insurance premium tax credits to insurance companies. An entity that contracts with the department to purchase tax credits may transfer the tax credits once to an insurance company. The insurance company is not permitted to further transfer the tax credits following the transfer to the insurance company. The qualified taxpayer that originally purchased the credit and the resulting entity shall notify the department in writing of the transfer or assumption of the credit in accordance with procedures adopted by the department.