April 22, 2019

SB 14-166: Directing Office of Economic Development to Develop an App that Identifies Local Businesses

On March 21, 2014, Sen. Morgan Carroll introduced SB 14-166 – Concerning the Development of Mobile Application Software in the Colorado Office of Economic Development that Users May Access to Identify Local Businesses. This summary is published here courtesy of the Colorado Bar Association’s e-Legislative Report.

The bill directs the Colorado office of economic development (office) to contract for the creation of mobile application software (app) that identifies local businesses in Colorado. Local businesses, which are defined as businesses that are owned, located, or headquartered in, or that manufacture in, the state, may elect to participate in the app.

The bill is assigned to the Business, Labor, and Technology Committee.

HB 13-1142: Modifying Four Tax Credit Programs Under the Urban and Rural Enterprise Zone Act

On January 18, 2013, Rep. Dickey Hullinghorst and Sen. Rollie Heath introduced HB 13-1142 – Concerning Reforms to the “Urban and Rural Enterprise Zone Act.” This summary is published here courtesy of the Colorado Bar Association’s e-Legislative Report.

The bill:

  • Commencing Jan. 1, 2014, requires the director of the Colorado office of economic development and the Colorado economic development commission (commission) to review the enterprise zone designations at least once every 10 years to ensure that the existing zones continue to meet the statutory criteria to qualify as an enterprise zone.
  • For credits certified on or after Jan. 1, 2014, limits the amount of an income tax credit that may be claimed in an income tax year for qualified investments in an enterprise zone to the sum of the taxpayer’s actual tax liability for the income tax year up to $5,000, plus 50 percent of any portion of the tax liability for the income tax year that exceeds $5,000 up to a maximum of $1 million.
  • Allows a taxpayer to appeal to the commission for a credit in excess of the $1 million limit.
  • Requires the commission to annually post information regarding certified investment tax credits on its web site or the Colorado office of economic development’s web site.
  • Increases the income tax credit for investments made in a qualified job training program in an enterprise zone for income tax years commencing on and after Jan. 1, 2014, from 10 percent of the total investment to 12 percent.
  • Increases the income tax credit for establishing a new business facility in an enterprise zone for income tax years commencing on and after Jan. 1, 2014, from $500 for each new business facility employee to $1,100.
  • Increases the income tax credit for each new business facility employee in an enterprise zone who is insured under a health insurance plan or program provided through his or her employer for income tax years commencing on and after Jan. 1, 2014, from $200 per such employee to $1,000.
  • On Feb. 28, the Finance Committee took testimony and delayed action on the bill to a future date.

    HB 13-1003: Creation of Economic Gardening Pilot Project to Provide Strategic Assistance to Some Colorado Companies

    On Wednesday, January 9, 2013, Rep. Pete Lee introduced HB 13-1003 – Concerning the Creation of an Economic Gardening Pilot Project in the Colorado Office of Economic Development. This summary is published here courtesy of the Colorado Bar Association’s e-Legislative Report.

    The bill creates an economic gardening pilot project in the Colorado office of economic development (office). Through the pilot project, staff members of the office and small business development centers (SBDCs) who have been trained and certified in economic gardening principles and practices provide 12 months of strategic assistance to at least 20 Colorado-headquartered second-stage companies and SBDC clients selected by the state director of SBDCs in the office.

    The state director reports annually on the results of the pilot project to the general assembly, and the pilot project terminates in 2016. Assigned to the Business, Labor, Economic, & Workforce Development Committee.

    HB 13-1002: Requiring the Colorado Office of Economic Development to Spend Money on Small Business Development Centers

    On Wednesday, January 9, 2013, Rep. Max Tyler and Sen. Cheri Jahn introduced HB 13-1002 – Concerning Moneys for Small Business Development Centers. This summary is published here courtesy of the Colorado Bar Association’s e-Legislative Report.

    The bill requires the Colorado office of economic development (office) to expend $500,000 in each of the 2013–14 and 2014–15 state fiscal years for small business development centers (SBDCs). Appropriations made for this purpose are declared to be in addition to any other moneys the office receives. The state director of SBDCs in the office shall expend between 10 and 15 percent of these moneys per year to increase awareness of SBDCs, and shall equitably apportion the remainder for distribution to SBDCs across the state.

    If separate legislation is enacted to establish an economic gardening initiative, $200,000 of the $500,000 will be used for the economic gardening initiative.

    The office is required to report to the general assembly regarding the disbursement and the measurable results of the use of those moneys. Assigned to the Business, Labor, Economic, & Workforce Development Committee.

    HB 13-1001: Creation of the Advanced Industries Acceleration Grant Program in the Office of Economic Development

    On Wednesday, January 9, 2013, Reps. Dave Young and Sen. Rollie Heath introduced HB 13-1001 – Concerning an Advanced Industry Grant Program, and, In Connection Therewith, Enacting the “Advanced Industries Acceleration Act”; Adding Representatives from Advanced Industries to the Economic Development Commission; Repealing the Bioscience Discovery Evaluation Grant Program and the Clean Technology Evaluation Grant Program; and Creating the Colorado Advanced Industries Acceleration Cash Fund To Be Used to Provide Proof-of-Concept Grants, Early-Stage Capital and Retention Grants, and Infrastructure Funding Grants. This summary is published here courtesy of the Colorado Bar Association’s e-Legislative Report.

    The bill creates the advanced industries acceleration grant program (program) in the Colorado office of economic development (office). The following industries are defined to be advanced industries: advanced manufacturing, aerospace, bioscience, electronics, energy and natural resources, infrastructure engineering, and information technology.

    The program includes the following types of grants:

    • A proof-of-concept grant for an advanced industry research project to an eligible office of technology transfer;
    • An early-stage capital and retention grant to an eligible company for the purpose of accelerating the commercialization of advanced industry products or services to be manufactured or performed in the state; and
    • An infrastructure grant for an advanced industry project that builds or utilizes infrastructure to support or enhance the commercialization of advanced industry products or services or that contributes to the development of an advanced industry workforce.

    Each type of grant has its own eligibility requirements, preferences, and maximum grant amounts. If an applicant qualifies for a preference, the maximum grant amounts do not apply. All grant applicants are required to identify the anticipated number of jobs created or retained in the state, capital invested or attracted in the state, and any other economic impacts that may result from the grant. The program absorbs the bioscience discovery evaluation grant program and the clean technology discovery evaluation grant program, which are both repealed in the bill. Assigned to the Business, Labor, Economic, & Workforce Development Committee.