The Car and Truck Fleet and Leasing Management Magazine

Colorado House Approves TRALA-Backed Enterprise Zone Tax Credit Bill

March 6, 2006

DENVER – The Colorado House of Representatives approved by a 48 to 14 vote House Bill 1091, TRALA-supported legislation that would make new truck and trailer purchases eligible for Colorado’s 3 percent Enterprise Zone Investment Tax Credit Program. After the House passed the bill March 1, it was sent to the state Senate.According to TRALA, HB 1091 is intended to correct a discrepancy in the current enterprise zone program that excludes trucks and trailers from the 3-percent investment tax credit. The law as written limits the tax credit to purchases of “equipment exclusively used in an enterprise zone for at least one year.” The mobile use of trucks and trailers currently makes them ineligible for the tax credit. HB 1091 would clarify that all new equipment purchases, including trucks greater than 16,000 lbs. and trailers, qualify for the 3-percent investment tax credit. For more information, contact TRALA’s John Lynch at (703) 299-9120 or [email protected]
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