July 21, 2018

Archives for May 7, 2012

Tenth Circuit: Unpublished Opinions, 5/4/12

On Friday, May 4, 2012, the Tenth Circuit Court of Appeals issued no published opinions and three unpublished opinions.

Unpublished

Meacham v. Church

Clark v. Holder

Morales v. Jones

No case summaries are provided for unpublished opinions. However, published opinions are summarized and provided by Legal Connection.

SB 12-182: Creation of the “Invest in Colorado Act” and Establishment of Parameters for Benefit Corporations

On April 26, 2012, Sen. Bob Bacon and Rep. Tom Massey introduced SB 12-182 – Concerning Benefit Corporations. This summary is published here courtesy of the Colorado Bar Association’s e-Legislative Report.

The bill enacts the “Invest in Colorado Act,” and authorizes the creation of benefit corporations. A benefit corporation must have, as one of its purposes specified in its articles of incorporation, the goal of creating general public benefit. The bill establishes the requirements for a corporation to be created as, or to elect to become, a benefit corporation, including:

  • The election and termination of benefit status;
  • The promotion of general public benefit as a purpose of the corporation;
  • Standards of accountability for the conduct of directors and officers of a benefit corporation;
  • Designation of a benefit director;
  • Rights of action in benefit proceedings; and
  • The preparation and availability of annual benefit reports.

The bill specifies dissenters’ rights for shareholders of a benefit corporation. The bill clarifies that an offer or sale of a security of a benefit corporation is not a solicitation for purposes of the “Colorado Charitable Solicitations Act” if the offer or sale complies with the “Colorado Securities Act.”

Assigned to the Judiciary Committee, the bill is scheduled for committee review on Monday, April 30 at 1:30 p.m.

Since this summary, the bill was referred unamended from the Judiciary Committee to Appropriations. It was amended in the Appropriations Committee and referred to the Senate Committee of the Whole for second reading.

Summaries of other featured bills can be found here.

SB 12-180: Encouraging the Use of Colorado Forests and Water Systems as a Source of Renewable Energy

On April 26, 2012, Sen. Gail Schwartz and Rep. Don Coram introduced SB 12-180 – Concerning Measures to Encourage the Use of Colorado Forest Biomass as a Source of Renewable Energy. This summary is published here courtesy of the Colorado Bar Association’s e-Legislative Report.

The bill develops a variety of legislative responses to address the risks caused by diseased and falling trees, pest epidemics, and fire to Colorado’s forests and water systems, including:

  • Encourages the Colorado state forest service to further collaborate with the United States forest service to address the risk of wildfire in our forest ecosystems;
  • Encourages the Colorado Economic Development Commission, in collaboration with the Colorado Department of Agriculture, to promote forest products derived from Colorado forests;
  • Encourages the air quality control commission to identify residential, commercial, and industrial equipment, specifically with respect to equipment fueled by woody biomass, that meets air emissions standards;
  • Encourages the Colorado agricultural value-added development board to prioritize silviculture energy grant requests in applying the “advancing Colorado’s renewable energy” program and extending funding for the program until fiscal year 2016-17;
  • Expands the definition of “conservation easement in gross” to include sustainable ecosystem management and reforestation;
  • Creates renewable energy enterprise areas to promote tax credits and incentives for investments made to businesses and facilities in the woody biomass industry and presenting geographic designations of the areas to an enterprise zone review task force for review, and authorizes the executive director of the Department of Revenue to promote the tax credits;
  • Amends Colorado’s renewable energy standard to encourage the public utilities commission to give priority to biomass derived from insect-killed or insect-diseased timber and other forest products in providing credit multipliers; and
  • Creates a work group to evaluate renewable thermal and cogeneration technologies in Colorado, identify potential investment incentives for the technologies, and explore the development of a renewable energy credit market for these technologies.

The bill is assigned to the Agriculture, Natural Resources, and Energy Committee and is scheduled for committee review on Tuesday, May 1 at 7:30 a.m.

Since this summary, the bill was postponed indefinitely in committee.

Summaries of other featured bills can be found here.