Unless the context otherwise requires, any terms not defined in this article 28.8 have the meanings set forth in article 26 of this title 39. As used in this article 28.8, unless the context otherwise requires:
(1.5) "Average market rate" means the average price, as determined by the department on a quarterly basis, of all unprocessed retail marijuana that is sold or transferred from retail marijuana cultivation facilities in the state to retail marijuana product manufacturing facilities or retail marijuana stores, less taxes paid on the sales or transfers. An "average market rate" may be based on the purchaser or transferee of unprocessed retail marijuana or on the nature of the unprocessed retail marijuana that is sold or transferred. The "average market rate" must include one or more rates that cover unprocessed marijuana that is allocated to extractions, and the initial rates for these product types must be lower than the rate for unprocessed marijuana that is allocated for direct sale to consumers.
(2.5) "Contract price" means the invoice price charged by a retail marijuana cultivation facility to each licensed purchaser for each sale or transfer of unprocessed retail marijuana, exclusive of any tax that is included in the written invoice price, and exclusive of any discount or other reduction. In the case of multiple invoices reflecting multiple prices for the same transaction, "contract price" is the highest such price.
(12.5) "Retail marijuana taxes" means the retail marijuana excise tax imposed under section 39-28.8-302 and the retail marijuana sales tax imposed under section 39-28.8-202.
Source: L. 2013: Entire article added, (HB 13-1318), ch. 330, p. 1866, § 1, effective May 28. L. 2015: (12.5) added, (HB 15-1367), ch. 271, p. 1065, § 2, effective June 4. L. 2017: IP and (1) amended and (1.5) and (2.5) added, (SB 17-192), ch. 299, p. 1639, § 3, effective August 9. L. 2018: (6) amended, (HB 18-1023), ch. 55, p. 592, § 26, effective October 1. L. 2019: (6) amended, (SB 19-224), ch. 315, p. 2943, § 34, effective January 1, 2020.
Cross references: For the legislative declaration in HB 15-1367, see section 1 of chapter 271, Session Laws of Colorado 2015.