Section 24-48.5-106 - Certified capital companies - rules(1) The Colorado office of economic development shall carry out the responsibilities delegated to it pursuant to article 3.5 of title 10, C.R.S., related to certified capital companies.(2) The director of the Colorado office of economic development shall promulgate rules necessary to carry out the provisions of article 3.5 of title 10, C.R.S., by September 30, 2001. Such rules shall provide that the Colorado office of economic development shall begin accepting applications for certification as a certified capital company no later than October 31, 2001. Such rules shall further provide that any certified capital company may file premium tax credit allocation claims on behalf of its certified investors at any time on or after it becomes certified by the Colorado office of economic development, but in no case earlier than January 31, 2002, for premium tax credits that may be taken beginning in tax year 2003, and no earlier than January 31, 2004, for premium tax credits that may be taken beginning in tax year 2005, and that premium tax credits shall be earned by and vested in certified investors at the time of such investment of certified capital, although such premium tax credits may not be claimed or utilized until the tax year beginning on or after January 1, 2003, with respect to investments of certified capital made subsequent to January 31, 2002, but prior to January 31, 2004, or until the tax year beginning on or after January 1, 2005, with respect to investments of certified capital made subsequent to January 31, 2004.(3) All direct and indirect expenditures incurred by the Colorado office of economic development in carrying out the responsibilities assigned to the office in this section shall be paid from the division of insurance cash fund, created in section 10-1-103 (3), C.R.S.L. 2001: Entire section added, p. 1539, § 2, effective June 9. L. 2008: (4) repealed, p. 1903, § 90, effective August 5.