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Notice of Proposed Rulemaking – Innovative Motor Vehicle and Innovative Truck Credits

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The Colorado Department of Revenue, Division of Taxation, will host a public rulemaking hearing on the income tax rule listed below on January 18, 2024, at 10:00 a.m.

This hearing will be conducted virtually. Those interested in attending the hearing must register to participate virtually . The Department has created a Virtual Rulemaking Hearing Guide

strong>Proposed Rules: 

  • Rule 39-22-516. Innovative Motor Vehicle and Innovative Truck Credits. The purpose of the amendments to this rule is to provide additional guidance and clarification regarding the innovative motor vehicle and innovative truck credits and to update the rule to reflect changes made to the credits by House Bill 23-1272 Amendments to the rule address tax-exempt persons and political subdivisions; necessary conditions for a motor vehicle or truck to be considered new; titling and registration requirements; the tax year for which a credit may be claimed; the manufacturer’s suggested retail price for the purpose of determining eligibility and the credit amount; leased motor vehicles and trucks; and credit assignment.

The Department encourages participants to participate through video conference because of the additional participation features it provides. Participants are welcome to use a webcam to appear by video but can also leave their video camera off. If you would like to attend the rulemaking hearing, please register to participate virtually.

Parties wishing to attend or participate by teleconference should connect as follows:
Phone Number: 1 (669) 900-6833
Meeting ID:  864 3692 6139

The Department will accept oral and written comments on this proposed rule. Oral comments will be accepted by video and telephone conference at the hearing. Written comments may be submitted to in advance or in lieu of oral commentary at the hearing and will be accepted until 5:00 p.m. on January 18, 2024.

You can find the statement of basis and purpose here.

The proposed rule will be published in the Colorado Register on December 25, 2023.

We would appreciate your feedback to help us measure and improve the success of the rulemaking program. If you participate in the rulemaking process, we invite you to complete a short survey. Follow the link and choose the "I participated in the Rulemaking Process (written comments, workgroup meeting, or hearing)" option.