General Fund Transfer to Advanced Industries Programs

The advanced industries acceleration cash fund (AI cash fund) consists, in part, of money transferred annually to the fund from the general fund pursuant to the "Colorado Bioscience and Clean Technology Innovation Reinvestment Act" (bioscience act). The amount of money transferred pursuant to the bioscience act is based on the amount of income tax withholding for certain bioscience and clean technology occupation classifications. The act extends both the transfers to the AI cash fund and the bioscience act, which had respectively been scheduled to repeal on July 1, 2025, and July 1, 2026, for an additional 8 years so that the last transfer is scheduled for March 1, 2033, and the bioscience act is scheduled to repeal, effective July 1, 2034. APPROVED by Governor April 18, 2024 EFFECTIVE April 18, 2024(Note: This summary applies to this bill as enacted.)