Title 24, Government - State

(1) The commission has the following powers and duties: (a) To adopt an annual budget; (b) To develop operating guidelines relating to the manner and forms of financial assistance such as loans, grants, and local match requirements to be provided for various types of projects; (c…

(1) As used in this section, unless the context otherwise requires: (a) "Business" means a person doing business in the state. (b) "Department" means the Colorado department of revenue. (c) "Income tax credit" means the income tax credits allowed to a business no sooner than the …

(1) (a) There is hereby created a fund to be known as the Colorado economic development fund, which shall be administered by the commission and which consists of all money that may be available to the commission. The commission may transfer to the fund any general fund money appr…

(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 th…

(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…

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 program…

(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 commis…

(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 (4) Repealed.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, ef…

This part 1 is repealed, effective July 1, 2035. Source: L. 87: Entire article added, p. 1027, § 1, effective July 8. L. 89: Entire section amended, p. 340, § 5, effective June 7. L. 91: Entire section amended, p. 825, § 3, effective March 29. L. 93: Entire section amended, p. 47…

(1) As used in this section, unless the context otherwise requires: (a) "Office" means the Colorado office of economic development created in section 24-48.5-101. (b) (I) "Taxpayer" means any person doing business in the state, including an affiliated group, that operates in a st…

(1) As used in this section, unless the context otherwise requires: (a) "Advanced manufacturing" means the use of innovative technologies and processes to enhance existing and create new products, including, but not limited to, production activities that depend on automation, com…

As used in this part 2, unless the context otherwise requires: (1) "Authority" means the venture capital authority created in section 24-46-202. (2) "Certified capital" means an amount of cash that is contributed by a qualified taxpayer to the authority that is deposited in a ven…

(1) (a) There is hereby created as a special purpose authority, as defined in section 24-77-102 (15), the venture capital authority. The authority shall be a body corporate, a political subdivision of the state, and a public instrumentality, and its exercise of the powers conferr…

(1) The authority shall establish procedures and additional selection criteria for, and shall conduct, a competitive process for the selection of one or more fund managers to establish and manage one or more rural venture capital funds and to establish and manage one or more stat…

(1) For tax years commencing on or after January 1, 2005, but no later than January 1, 2014, and subject to the requirements and limitations of this section, there shall be allowed to any qualified taxpayer a venture capital tax credit to be used against the taxpayer's premium ta…

All direct and indirect expenditures incurred by the authority in carrying out the responsibilities assigned in this part 2 shall be paid from the enterprise fund without the necessity of an appropriation by the general assembly. Source: L. 2004: Entire part added, p. 42, § 8, ef…

The office of economic development shall assist the authority in administering this part 2. The authority shall submit a report to the state auditor on May 1 of each year regarding the results of the implementation of this part 2. Source: L. 2004: Entire part added, p. 42, § 8, e…

No member or employee of the executive branch shall become an officer, director, employee, or consultant of or receive any compensation from the authority or a fund manager either during the term of the member or employee's employment with the executive branch or for six years af…

This part 3 shall be known and may be cited as the "Colorado Regional Tourism Act". Source: L. 2009: Entire part added, (SB 09-173), ch. 434, p. 2403, § 1, effective June 4.

(1) The general assembly hereby finds and declares that: (a) The health, safety, and welfare of the people of the state of Colorado are enhanced by a diverse revenue stream, and the people of the state would benefit from an expansion of opportunities for investment in large-scale…

As used in this part 3, unless the context otherwise requires: (1) "Base year revenue" means the state sales tax revenue collected during the twelve-month period immediately prior to the month in which a regional tourism project is authorized, as determined by the department of r…

(1) Any local government may apply for approval of a regional tourism project, including designation of a regional tourism zone, the creation of a regional tourism authority, and designation of a financing entity to receive, utilize, and disburse state sales tax increment revenue…

(1) Upon receipt of a local government's application for a regional tourism project, the director or the director's designee shall review the application and shall make an initial determination regarding whether the application has met the criteria for a regional tourism project …

(1) The commission shall not deny a request to authorize the creation of a regional tourism authority if the commission otherwise approves an application for a regional tourism project that includes a request for the formation of a regional tourism authority. (2) A regional touri…

(1) In order to implement the collection of state sales tax increment revenue, the resolution adopted by the commission approving a regional tourism project shall state that state sales taxes, if any, levied and collected after the effective date of the commission's approval of t…

(1) Within ninety days of the end of the first full state fiscal year after the commission approves a regional tourism project and on the same date each year thereafter, the financing entity shall prepare and submit to the commission an annual report detailing the total amount of…

(1) Substantial work on a regional tourism project, including but not limited to the financing entity's issuance of bonds or other debt instruments, the repayment of which is secured by a pledge of the state sales tax increment revenue or the commencement of actual development or…

(1) A financing entity may issue bonds from time to time in its discretion to finance any eligible improvements with respect to a regional tourism project and may also issue refunding or other bonds of the financing entity from time to time in its discretion for the payment, reti…

The short title of this part 4 is the "Transit Investment Area Act". Source: L. 2026: Entire part added, (HB 26-1065), ch. 157, p. 891, § 2, effective May 27.

As used in this part 4, unless the context otherwise requires: (1) "Aerial transit facility" means one or more physical structures that use aerial cables to move passengers and that link directly to another form of mass transit, such as passenger rail, light rail, other types of …

(1) Beginning January 1, 2027, a local government, either alone or in partnership with a transit agency that has jurisdiction within a proposed transit investment area, may submit an application to the office of economic development for the approval of a transit investment projec…

(1) Upon receipt of a local government's application for the approval of a transit investment project, the director or the director's designee shall review the application and make an initial determination as to whether the application has met the criteria for a transit investmen…

(1) The commission shall not deny a request to authorize the creation of a transit investment authority if the commission otherwise approves an application for a transit investment project that includes a request for the formation of a transit investment authority. (2) A transit …

(1) In order to implement the collection of state sales tax increment revenue, the resolution adopted by the commission approving a transit investment project shall state that the department shall, after annually retaining an amount of the state sales tax increment revenue establ…

(1) (a) Within ninety days of the end of the first full state fiscal year after the commission approves a transit investment project and on the same date each year thereafter, the financing entity shall prepare and submit to the commission an annual report detailing: (I) The tota…

(1) Substantial work on a transit investment project, including the financing entity's issuance of bonds or other debt instruments, the repayment of which is secured by a pledge of the state sales tax increment revenue or the commencement of actual development or predevelopment, …

(1) A financing entity may issue bonds from time to time in its discretion to finance any eligible improvements with respect to a transit investment project and may also issue refunding or other bonds of the financing entity from time to time in its discretion for the payment, re…