Colorado Capitol Watch

Login

Welcome Visitor

 
Forgot password?
----------
Subscribe for Current Session

My CCW Tools

Look Up Bills

Look Up Legislators

Legislative Year: 2024 Change
  •  
  •  

Bill Detail: HB24-1349

Return to list of bills

emailSend an email to your legislator

Title Firearms & Ammunition Excise Tax
Status House Third Reading Passed - No Amendments (04/20/2024)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors M. Froelich (D)
M. Duran (D)
Senate Sponsors J. Buckner (D)
C. Hansen (D)
House Committee Finance
Senate Committee
Date Introduced 02/28/2024
Summary

Subject to voter approval at the November 2024 general election,
beginning April 1, 2025, the bill levies an excise tax on firearms dealers,
firearms manufacturers, and ammunition vendors at the rate of 11% of the
gross taxable sales from the retail sale of any firearm, firearm precursor
part, or ammunition in this state and allows the state to collect and spend
all revenue generated by the tax notwithstanding any limitations in section
20 of article X of the state constitution or any other provision of law.
Such retail sales to peace officers and law enforcement agencies are
exempt from the excise tax. In addition, such retail sales made during any
month are exempt from the excise tax if the total amount of gross taxable
sales made by the firearms dealer, firearms manufacturer, or ammunition
vendor during the month are less than $2,000.
Excise tax. Every firearms dealer, firearms manufacturer, and
ammunition vendor engaged in the retail sale of firearms, firearm
precursor parts, or ammunition in this state is required to file a return and
remit the excise tax due on a monthly basis, provide specified information
to the department of revenue (department) in the return, and maintain
specified records that must be available for inspection by the department.
Allocation of tax revenue. The bill requires all money received
and collected in payment of the excise tax to be transmitted for ultimate
deposit in the firearms and ammunition excise tax cash fund (fund)
created in the bill. All such money and any fund investment earnings must
then be transferred as follows:
  • The first $45 million in the first fiscal year and that amount
as adjusted for inflation or deflation in each fiscal year
thereafter must be transferred to the Colorado crime victim
services fund (victim services fund) in the division of
criminal justice (division) of the department of public
safety for crime victim services grants;
  • The next $5 million in each fiscal year must be transferred
to the victims and witnesses assistance and law
enforcement fund for local judicial districts;
  • The next $5 million in each fiscal year must be transferred
to the victim services fund for mass tragedy response and
prevention programs; except that any money that is
transferred but not spent or encumbered for that purpose in
a given fiscal year may be used by the division for
additional crime victim services grants;
  • The next $4 million in each fiscal year must be transferred
to the wildlife cash fund in the division of parks and
wildlife of the department of natural resources for
administration and enforcement of wildlife laws against the
illegal use of firearms;
  • The next $2 million in each fiscal year must be transferred
to the wildlife cash fund for programs to support shooting
and shooting range safety; and
  • Any remaining money in each fiscal year must be
transferred to the victim services fund for crime victim
services grants.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (04/20/2024) (most recent)  
Additional Bill Documents Bill Documents
Including:
  • Past bill versions
  • Past fiscal notes
  • Committee activity and documents
  • Bill History
 
Lobbyists Lobbyists
Audio [This feature is available by subscription.]  
Votes House and Senate Votes
Vote Totals Vote Totals by Party
 
 
 
Copyright © 2008-2024 State Capitol Watch