9F335BEB7404714187258813006D2490 Hearing Summary

Representatives McLachlan and Snyder, co-sponsors, presented Senate Bill 22-006. The bill increases the state vendor fee from 4.0 percent to 5.3 percent starting January 1, 2023. The increase is effective for one calendar year and applies only to retailers with less than $100,000 in taxable sales per filing period. The bill clarifies that the calculation of the amount that is credited to the Housing Development Grant Fund is based on the changes to the vendor fee under House Bill 19-1245, and not on any subsequent modifications, including those changes made in this bill.

Amber Egbert, representing the Colorado Department of Revenue, testified in support of the bill. She responded to questions from the committee.

The sponsors provided closing remarks and asked for a favorable recommendation.