On February 1, 2013, Rep. Tracy Kraft-Tharp and Sen. Cheri Jahn introduced HB 13-1193 – Concerning the Creation of the Advanced Industries Export Acceleration Program. This summary is published here courtesy of the Colorado Bar Association’s e-Legislative Report.
The bill creates the advanced industries export acceleration program to be administered by the Colorado international trade office (office). The program, which lasts for five years, is for the benefit of the advanced industries. The advanced industries are advanced manufacturing, aerospace, bioscience, electronics, energy and natural resources, infrastructure engineering, and information technology. The program consists of international export development expense reimbursement, export training, and global network consultation.
Under the first part of the program, the office may reimburse a qualifying business for up to one-half of its international export development expenses. The maximum amount that a business may be reimbursed is $15,000. The office may conditionally approve an expense prior to the business incurring it and it may also establish conditions based on export sales under which the office receives payments from a business that received a reimbursement.
As part of the export training, the office is required to provide export training for businesses in the advanced industries to learn the fundamentals of exporting. The office may collaborate with private trade organizations and federal export assistance organizations to conduct the training. Examples of the types of training the office may offer are conferences, seminars, and workshops on trade-related topics. The office is permitted to charge reasonable fees for a business to attend a training session.
The global network consultation component of the program requires the office to develop a global network of trade consultants in key international markets to assist the office in accelerating advanced industries exports. The office may work with the consultants to increase its knowledge about the market and make the consultants available for Colorado businesses to access. The office may pay for these services on behalf of a business, and if so, recoup some of the fee from the business.
The bill also creates the advanced industries export acceleration cash fund. Contingent on the passage of another bill introduced in the 2013 legislative session, the state treasurer will annually transfer $300,000 to the fund over the next five years. Moneys in the fund are continuously appropriated to the office for the administration of the program. The office is required to annually report to legislative committees about the program. On Feb. 14, the Business, Labor, Economic, & Workforce Development Committee approved the unamended bill and sent it to the Appropriations Committee for consideration of the fiscal impact.