(1) Every private person or entity that receives a grant or loan from the commission pursuant to this article, awarded in part or in whole on the basis of the person's or entity's creation of full-time permanent new jobs with wage requirements shall file a progress report with the commission. The progress report shall include, but shall not be limited to, the following:
(a) The name of the person or entity that received the grant or loan and, if the recipient is an entity, the name of the chief officer of the entity;
(b) The business address and business phone number of the person or entity that received the grant or loan;
(c) The amount of the grant or loan awarded to the person or entity by the commission;
(d) A statement of the number of new full-time permanent jobs that the person or entity that received the grant or loan has created to date;
(e) Payroll or other data to verify the number of new jobs created by the person or entity;
(f) The average annual compensation level of new full-time permanent employees of the new jobs created;
(g) A statement as to whether the person or entity that received the grant or loan reduced employment at any other site controlled by the person or entity in the state as a result of automation, merger, acquisition, corporate restructuring, or other business activity; and
(h) Any other information reasonably required by the commission to evaluate the progress of the person or entity that received the grant or loan and the effectiveness of awarding the grant or loan.
(2) The progress report submitted to the commission shall include a signed certification by the private person who received the grant or loan or, if the recipient is a private entity, the chief officer of the entity that received the grant or loan as to the accuracy of the progress report.
(3) Any private person or entity that receives a grant or loan pursuant to this article based in part or in whole on the person's or entity's creation of full-time permanent new jobs in the state shall file the progress report required pursuant to subsection (1) of this section.
(4) The commission shall include the information collected each year pursuant to subsection (1) of this section in the commission's report to the general assembly pursuant to section 24-46-104 (2). The commission's report shall also include a statement as to whether the private person or entity that received the grant or loan has achieved the person's or entity's job creation and wage requirement.
(5) The commission shall inform a private person or entity that receives a grant or loan based in part or in whole on the person's or entity's creation of full-time permanent new jobs in the state that the person or entity is required to comply with the requirements of this section at the time the commission awards the grant or loan.
Source: L. 2007: Entire section added, p. 510, � 3, effective August 3. L. 2008: (3) amended, p. 246, � 2, effective August 5.
24-46-105.3. Economic development incentives - employers in compliance with federal law - legislative declaration. (1) The general assembly hereby finds and declares that the commission encourages, promotes, and stimulates economic development and employment in Colorado by awarding economic development incentives to employers in the form of grants, loans, and performance-based incentives. The general assembly further finds that it is in the best interest of the people of the state to ensure that United States citizens and others lawfully present in the state are the beneficiaries of employment opportunities that are made possible through moneys awarded to employers the commission. The general assembly recognizes that many local governments also participate in programs to develop new businesses, expand existing businesses, promote economic development within their jurisdictions, and create employment opportunities for Colorado. The general assembly further recognizes that it would be in the best interest of the people of the state if local governments would take steps to ensure that United States citizens and others lawfully present in the state are the beneficiaries of employment opportunities created through economic development incentives offered at the local level. Therefore, the general assembly hereby encourages all local governments that participate in economic development incentive programs to develop standards to ensure that all employers who are awarded economic development incentives employ only United States citizens or people who are lawfully present in the state and have the authority to work.
(2) In addition to the requirements specified for any employer to receive a grant, loan, performance-based incentive, or other economic development incentive pursuant to the provisions of this article, an employer shall be in compliance with the provisions of 8 U.S.C. sec. 1324a in order to be eligible to receive such economic development incentive. The commission shall develop a procedure by which an employer that receives an economic development incentive pursuant to this article shall provide proof to the commission that each employee employed by the employer within the United States is a United States citizen or, if not a United States citizen, is lawfully present in the state and authorized to work.
(3) During the process of awarding a grant, loan, performance-based incentive, or other economic development incentive to an employer, the commission shall have the discretion to determine when to verify that the employer is in compliance with the provisions of 8 U.S.C. sec. 1324a.
(4) If the commission determines that an employer who receives an economic development incentive pursuant to this article is not in compliance with the provisions of 8 U.S.C. sec. 1324a, or is unable to prove that it is in compliance with the requirements of 8 U.S.C. sec. 1324a, the commission shall notify the employer by certified mail of the commission's determination of noncompliance. The employer shall repay the total amount of money received as an economic development incentive to the commission within thirty days of receipt of the notice.
(5) Notwithstanding the provisions of this article, any employer that has been issued a notice of noncompliance pursuant to subsection (4) of this section shall be ineligible to qualify for a grant, loan, performance-based incentive, or other economic development incentive awarded pursuant to this article for five years after the date that the employer has repaid the commission in full pursuant to the requirements of subsection (4) of this section.
(6) Upon determination that an employer is ineligible to receive an economic development incentive pursuant to this section, the commission shall allow the employer to appear at a hearing before the commission and to establish proof that the employer is in compliance with the provisions of 8 U.S.C. sec. 1324a. The commission shall satisfy the requirements of this subsection (6) within existing resources.
(7) This section shall be enforced without regard to race, religion, gender, ethnicity, or national origin.
Source: L. 2006, 1st Ex. Sess.: Entire section added, p. 22, � 1, effective July 31.
24-46-105.5. Local economic development - participation in federal programs. Any local government may participate in federal programs to develop new business, expand existing business, or promote economic development within its jurisdiction. Any local government participating in such programs may enter into contracts for the administration of such programs and expend moneys as required for participation in such programs.
Source: L. 97: Entire section added, p. 161, � 1, effective March 28.
24-46-105.7. Performance-based incentive for new job creation - new jobs incentives cash fund.
(1) (Deleted by amendment, L. 2008, p. 943, � 1, effective August 5, 2008.)
(2) On or after January 1, 2006, but prior to January 1, 2011, any employer that satisfies the criteria that the commission has established for an employer to qualify for a grant or a loan from the commission pursuant to section 24-46-105 (2.5) may be eligible to receive a performance-based incentive from the commission from the moneys in the new jobs incentives cash fund created in this section.
(3) An employer that qualifies to receive a performance-based incentive for new jobs created pursuant to this section and that qualifies for an income tax credit pursuant to section 39-30-105.1, shall be allowed to receive the incentive allowed pursuant to this section and claim the credit allowed pursuant to section 39-30-105.1.
(4) (a) and (b) (Deleted by amendment, L. 2008, p. 943, � 1, effective August 5, 2008.)
(c) The commission shall develop procedures for the administration of this section, including establishing a procedure for employers to apply for performance-based incentives and for the commission to issue payment of the incentives.
(5) On or before March 1, 2007, and on or before March 1 of each year thereafter, the commission shall report to the business affairs and labor committee of the house of representatives and the business affairs, labor, and technology committee of the senate, or any successor committees, regarding the performance-based incentives awarded pursuant to this section. The report shall include but need not be limited to the number of employers that received the performance-based incentive pursuant to this section and the total amount of all incentives received during the most recent fiscal year for which such information is available.
(6) The total amount of performance-based incentives that the commission issues pursuant to this section in any fiscal year shall not exceed the amount appropriated to the commission to be used for the purposes of this section in the applicable fiscal year. The commission shall issue incentives to applicants at the commission's discretion until the amount appropriated has been expended.
(7) (a) The commission shall not allow any employer that has been approved to receive a performance-based incentive for the creation of new jobs prior to June 5, 2006, to claim an incentive pursuant to this section for the same jobs for which the previous incentive was approved.
(b) (Deleted by amendment, L. 2008, p. 943, � 1, effective August 5, 2008.)
(8) Of the total amount appropriated by the general assembly to the commission to be used for the purposes of this section, an amount equal to fifteen percent of the amount appropriated shall be used by the commission to award performance-based incentives pursuant to this section to employers who open a new business or expand or relocate an existing business and create new jobs in an enterprise zone that is not within the boundaries of the counties of Denver, Boulder, Douglas, Arapahoe, Jefferson, or Broomfield.
(9) (a) There is hereby created in the state treasury the new jobs incentives cash fund, referred to in this section as the fund. The fund shall consist of:
(I) Money transferred to the fund in accordance with section 44-30-701 (2); and
(II) Any moneys appropriated to the fund by the general assembly.
(b) The moneys in the fund shall be annually appropriated by the general assembly for the purposes of this section. All moneys not expended or encumbered, and all interest earned on the investment or deposit of moneys in the fund, shall remain in the fund and shall not revert to the general fund at the end of any fiscal year. Any moneys not expended or encumbered from any appropriation at the end of any fiscal year shall remain available for expenditure in the next fiscal year without further appropriation.
Source: L. 2006: Entire section added, p. 1680, � 1, effective June 5; (9) added, p. 1667, � 9, effective June 5. L. 2008: (9)(b) amended, p. 33, � 1, effective March 13; (1), (2), (3), (4), (5), (6), and (7)(b) amended, p. 943, � 1, effective August 5. L. 2010: (9)(a)(I) amended, (HB 10-1339), ch. 136, p. 457, � 4, effective April 15. L. 2011: (9)(a)(I) amended, (SB 11-159), ch. 54, p. 143, � 4, effective March 25. L. 2018: (9)(a)(I) amended, (SB 18-034), ch. 14, p. 246, � 33, effective October 1. L. 2020: (3) amended, (HB 20-1166), ch. 103, p. 394, � 1, effective April 1.
24-46-105.8. Performance-based incentive for film production in Colorado - film incentives cash fund - definitions.
(1) to (3) (Deleted by amendment, L. 2009, (HB 09-1010), ch. 419, p. 2332, � 3, effective July 1, 2009.)
(4) Repealed.
(5) and (6) (Deleted by amendment, L. 2009, (HB 09-1010), ch. 419, p. 2332, � 3, effective July 1, 2009.)
Source: L. 2006: Entire section added, p. 1675, � 1, effective June 5; (6) added, p. 1666, � 8, effective June 5. L. 2007: (1)(b) and (4)(a) amended, p. 2039, � 57, effective June 1. L. 2008: (6)(b) amended, p. 33, � 2, effective March 13; (4)(a) amended, p. 1945, � 2, effective June 2. L. 2009: Entire section amended, (HB 09-1010), ch. 419, p. 2332, � 3, effective July 1. L. 2010: (4)(a) repealed, (SB 10-158), ch. 231, p. 1015, � 7, effective (see editor's note).
Editor's note: (1) Senate Bill 10-158 repealed subsection (4)(a), effective July 1, 2010, but that repeal did not take effect due to the repeal of subsection (4), effective January 1, 2010.
(2) Subsection (4)(d) provided for the repeal of subsection (4), effective January 1, 2010. (See L. 2009, p. 2332.)