HB 24-1001 CO

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Became Law

The act continues the rural jump-start zone grant program (grant program) until July 1, 2025, and the grant money in the rural jump-start grant fund account reverts to the general fund on June 30, 2025. The act changes the total allowable administrative cost of the grant program from $100,000 per fiscal year to $300,000 total for the sum of all fiscal years that the grant program is in effect. The new business income tax credit and the new hire income tax credit, which are benefits under the grant program, are extended for 5 years and are available for income tax years commencing before January 1, 2031. The act prohibits the Colorado office of economic development (office) from approving more than 3 rural jump-start zones in counties with populations of less than 100,000 in any year. The number of credit certificates that the office may issue in each approved rural jump-start zone in one income tax year for all new hires employed by all new businesses is increased from 300 to 600 for businesses that are in one of the 14 industries that the office targets for economic development in the state. The act appropriates $873,304 from the rural jump-start zone grant fund account to the office of the governor for use by economic development programs. To implement the act, the office may use this appropriation for rural jump-start. APPROVED by Governor May 29, 2024 EFFECTIVE May 29, 2024(Note: This summary applies to this bill as enacted.)

• Meghan Lukens Democratic · primary
• Rick Taggart Republican · primary
• Dylan Roberts Democratic · primary
• Cleave Simpson Republican · primary

1. May 29, 2024 Governor Signed · executive
2. May 10, 2024 Sent to the Governor · executive
3. May 10, 2024 Signed by the President of the Senate · upper
4. May 10, 2024 Signed by the Speaker of the House · lower
5. May 6, 2024 Senate Third Reading Passed - No Amendments · upper
6. May 4, 2024 Senate Second Reading Special Order - Passed - No Amendments · upper
7. May 4, 2024 Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole · upper
8. May 3, 2024 Senate Committee on Finance Refer Unamended to Appropriations · upper
9. May 2, 2024 Senate Committee on Business, Labor, & Technology Refer Unamended to Finance · upper
10. Apr 29, 2024 Introduced In Senate - Assigned to Business, Labor, & Technology · upper
11. Apr 29, 2024 House Third Reading Passed - No Amendments · lower
12. Apr 26, 2024 House Second Reading Special Order - Passed with Amendments - Committee · lower
13. Apr 25, 2024 House Committee on Appropriations Refer Amended to House Committee of the Whole · lower
14. Feb 1, 2024 House Committee on Business Affairs & Labor Refer Amended to Appropriations · lower
15. Jan 10, 2024 Introduced In House - Assigned to Business Affairs & Labor · lower