Colorado enacts law to increase tax breaks, truck grants

By Charlie Morasch, Land Line staff writer | Tuesday, June 09, 2009

Colorado recently approved tax exemptions and a grant program in an effort to reduce truck emissions and become more truck friendly.

This past week, Colorado Gov. Bill Ritter signed a bill into law that prorates sales tax for interstate trucking equipment based on the number of miles a truck is driven in the state. The law also allows for a 3 percent tax credit for purchases made in economically disadvantaged enterprise zones.

Currently, equipment purchased in the enterprise zones needed to remain there for one year for the truck owner to receive credit.

The law also creates the Green Truck Grant Program, which reimburses motor carriers for 25 percent of the cost to buy and install emission control devices and fuel-efficient technologies.

Supporters of the new law told the Denver Business Journal they believe the measure’s tax exemption changes will bring Colorado into line with surrounding neighbor states such as Nebraska, Wyoming and Utah.

– By Charlie Morasch, staff writer
charlie_morasch@landlinemag.com

 

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