C.R.S. § 39-36-106 — Department of revenue - electronic filings - report - rules

(1) (a) For the 2023 income tax year and each income tax year thereafter through the 2035 income tax year, any taxpayer that claims one or more income tax credits pursuant to this article 36 shall file a state income tax return with the department in an electronic format. (b) A taxpayer must submit the electronic state income tax return required under subsection (1)(a) of this section together with: (I) A certification form executed by the CHIPS zone administrator pursuant to section 39-36-104 (5)(b) for each income tax credit claimed pursuant to this article 36; (II) Any waiver certificate issued by the commission to the taxpayer under section 39-30-104 (2)(c)(II) waiving the limit on the amount of the taxpayer's qualified investment tax credit for the income tax year; (III) A refund election statement on a form prescribed by the department for each tax credit claimed pursuant to this article 36 for which the taxpayer elects to receive a refund pursuant to section 24-46-108; (IV) A refund certificate issued by the commission to the taxpayer under section 24-46-108 approving each income tax credit claimed pursuant to this article 36 for which the taxpayer elects to receive a refund; and (V) A carryforward schedule including the type and amount of each income tax credit claimed pursuant to this article 36 that the taxpayer intends to use in a subsequent tax year. (2) The documents required under subsection (1)(b) of this section must be filed with the department not later than the due date, including extensions, for filing the taxpayer's state income tax return for the income tax year in which the income tax credits are claimed pursuant to this article 36. (3) (a) For the 2023 income tax year and each income tax year thereafter through the 2035 income tax year, the department shall aggregate and report data on all of the income tax credits that are claimed pursuant to this article 36 for each income tax year. The department shall categorize such aggregated data by the date that the income tax credit was certified by the CHIPS zone administrator, the specific income tax credit allowed pursuant to this article 36 that each taxpayer was authorized to claim, and the total amount of the income tax credits claimed for each income tax credit allowed pursuant to this article 36. (b) The department shall submit the data collected pursuant to subsection (1)(b)(V) of this section and the data aggregated pursuant to subsection (3)(a) of this section to the office on August 1, 2023, and on August 1 each year thereafter through August 1, 2036. (4) The executive director of the department, in consultation with the commission and the office, may promulgate rules as necessary for the department to administer and enforce any provisions of this article 36. Source: L. 2023: Entire article added, (HB 23-1260), ch. 227, p. 1195, § 7, effective May 20. L. 2025: (1)(b)(II) amended, (SB 25-300), ch. 428, p. 2458, § 62, effective August 6.