Open Bidding

Colorado Deferred Tax Credit Program

Public information related to the Colorado State Treasurer’s open bidding process for deferred state tax credit certificates.

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Overview

The State of Colorado is auctioning up to $250 million in state tax credits applicable against state premium and income tax liabilities. Insurance companies and corporate income taxpayers are invited to bid on these credits, which may be applied against state tax liabilities in 2026-2028 (or carried forward through December 2033).

In the first two rounds of bidding, the State secured sufficient cash commitments to satisfy HB 25B-1004. The State has now decided to sell up to an additional $125 million in credits as authorized under HB 25B-1006, approximately 95% of which remains available.

A new bidding deadline has been established for Friday, March 27, 2026.

Click above to watch the webinar. Date of recording: 01.13.26

Important Information

Eligible parties may submit bids to purchase Colorado deferred state tax credit certificates through an open bidding process administered by the Colorado State Treasurer’s Office, in accordance with the instructions outlined in the Program Overview and bid materials.

Bid forms are due by 5 p.m. MST on Friday, March 27, 2026. Completed bid forms can be sent to COtaxcredits@advantagecap.com

Process Resources

Program Overview

Additional program detail.

Purchase Agreement

Provided for informational purposes. Terms subject to change.

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Role of Advantage Capital

Advantage Capital was selected through a competitive RFP process to assist the State of Colorado in structuring, marketing, and placing deferred state tax credit certificates. Advantage Capital is partnering with the Colorado State Treasurer’s Office to support the execution of the open bidding process, including coordinating information distribution, facilitating due diligence and bidding, and supporting transaction execution and closing logistics.

Learn more about Advantage Capital here.

All program authority, eligibility determinations, and final credit allocation decisions remain with the Colorado State Treasurer’s Office in accordance with applicable law.

Read the Colorado Office of the Treasurer's press releases here. 

Frequently Asked Questions

When are bid forms due?

Bid forms must be submitted by 5 p.m. MST on Friday, March 27, 2026.

How do I submit a bid form?

Completed bid forms should be submitted via email to COtaxcredits@advantagecap.com.

Is any additional documentation required beyond the bid form?

A form purchase agreement will be required if and when a bid is accepted, as outlined in the program materials. Note that this is a competitive bidding process, and the state will review and accept bids based upon pricing.

Who is eligible to participate in the open bidding process?

Insurance companies and corporations with tax liability in the State of Colorado.

What types of taxes can the credits be applied to?

Credits apply against State insurance premium tax, retaliatory tax, and corporate income tax.

Where can I find detailed information about the program structure and timing?

All detailed information regarding program structure, timing, and credit characteristics is included in the Program Overview deck.

Who should I contact with general questions?

General questions related to the open bidding process may be directed to COtaxcredits@advantagecap.com.

Questions?

For general questions, please contact us.

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