The bill allows the Colorado economic development commission to allow certain businesses that make a strategic capital investment in the state, subject to a maximum amount, and subject to the requirements of the specified income tax credits, to treat any of the following income tax credits allowed to the business as either carryforwardable for a five-year period or as transferable: Colorado job growth incentive tax credit; Enterprise zone income tax credit for investment in certain property; Income tax credit for new enterprise zone business employees; and Enterprise zone income tax credit for expenditures for research and experimental activities.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
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The bill requires that, before the executive board of a unit owners' association (HOA) in a common interest community brings suit against a developer or builder on behalf of unit owners based on a defect in construction work not ordered by the HOA itself, the board must: Notify all unit owners and the developer or builder against whom the lawsuit is being considered; Call a meeting at which the executive board and the developer or builder will have an opportunity to present relevant facts and arguments and the developer or builder may, but is not required to, make an offer to remedy the defect; and Obtain the approval of a majority of the unit owners after giving them detailed disclosures about the lawsuit and its potential costs and benefits. The meeting of unit owners commences a 90-day voting period during which the HOA will accept votes for or against proceeding with the lawsuit. Statutes of limitation are tolled during this period. The HOA is required to keep copies of its mailing list and maintain records of the votes received. The voting period may end in less than 90 days if sufficient votes are received to approve the lawsuit before 90 days have elapsed. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
The bill extends the Colorado economic development commission (commission) by changing the repeal date of its organic statute to July 1, 2025. In addition, the bill authorizes the commission to transfer money appropriated to the commission to the Colorado economic development fund and to expend such money without further appropriation. The bill appropriates $5 million from the general fund to the office of the governor for use by the Colorado office of economic development. The office of economic development may use the appropriation for the commission. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
In 2013, the general assembly enacted SB 13-225, which established a task force in the department of public health and environment (department) to study and make recommendations for developing a statewide plan to improve quality of care to STEMI heart attack patients. ('STEMI' is an acronym for ST-elevation myocardial infarctions.) The study was to explore, among other things, the creation of a database for collecting data on STEMI care and access to aggregated STEMI data from the database for purposes of improving STEMI heart attack care. The bill implements the following recommendations of the task force, with some modifications: Requires a hospital that is accredited as a STEMI receiving center to report to a specified national heart attack database data that is consistent with nationally recognized guidelines on individuals with confirmed heart attacks within the state; Within 30 days after receiving quarterly reports from the heart attack database, requires hospitals to submit those reports to the department; Specifies that reports obtained by the department are privileged and strictly confidential, are not subject to subpoena or discovery, and are not admissible in a civil, criminal, or administrative proceeding; and Requires the department to sign a letter of commitment with the American College of Cardiology to ensure compliance with the confidentiality requirements and to request national reporting measures and metrics for benchmarking data.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
The bill requires the Colorado office of economic development (office) to engage the services of a local nonprofit organization that supports and promotes the employee-owned business model to educate the staff at the office on the forms and merits of employee ownership in order for the office to promote employee ownership as part of its small business assistance center. The bill requires the office to establish and administer a revolving loan program to assist transitions of existing businesses to employee-owned businesses. The bill specifies that the office may enter into a contract, following an open and competitive process, with a local nondepository nonprofit organization that supports and promotes the employee-owned business model, a bank, or a nondepository community development financial institution to establish and administer the revolving loan program. The bill allows the office to work with the Colorado housing and finance authority to assist in offering loans under the program. The bill specifies the types of businesses that may qualify for the program, sets a maximum amount of any loan, and specifies what the loans may and may not be used for. The bill also allows the office to seek matching private sector money to help capitalize the program. The bill authorizes the office to accept and expend gifts, grants, and donations to capitalize the program, and may annually keep the first 15% of the money raised for administration purposes. The bill creates the revolving loan program cash fund and the money in the fund is continuously appropriated to the office. The bill also specifies that the office is required to establish guidelines and post on its website administrative details about the revolving loan program, such as fees, costs, interest rates, and loan terms. The bill includes a repeal of the section of law creating the program, effective July 1, 2022. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
The bill separately defines and clarifies the term 'construction defect' in the 'Construction Defect Action Reform Act'. (Note: This summary applies to this bill as introduced.)
Joint Technology Committee. The bill creates a new source selection and contract negotiation timeline that a state agency is required to follow when it plans to submit a budget request to the joint technology committee (committee) for a major information technology project (project). The office of state planning and budgeting is required to ensure that state agencies adhere to the new timeline prior to submitting a budget request to the committee as follows: On or before November 1 of the fiscal year prior to the fiscal year in which a state agency intends to submit a budget request to the committee for a project, the state agency is required to notify the committee of its intent to begin the source selection and contract negotiation process. On or before January 1 of the fiscal year prior to the fiscal year in which a state agency intends to submit a budget request to the committee for a project, the state agency is required to issue a competitive solicitation in accordance with the 'Procurement Code'. The competitive solicitation is required to specify that the terms of a contract resulting from the solicitation require the vendor to honor its contract price through the date that work on the contract commences and that vendors are directed to estimate costs accordingly for the purpose of responding to the solicitation. A state agency that has issued a competitive solicitation is required to receive and review the responses from vendors and determine whether to pursue the project and the budget request on or before April 15 of the fiscal year prior to the fiscal year in which the state agency intends to submit the budget request to the committee. If the state agency intends to pursue a budget request for the project, the state agency must award a contract to the selected vendor on or before June 30 of the fiscal year prior to the fiscal year in which the state agency intends to submit the budget request to the committee. The terms of a contract awarded for a project must specify that: The state agency will pursue a budget request for the project in the fiscal year immediately following the fiscal year in which the contract is awarded; The contract is contingent upon the state agency receiving an appropriation from the general assembly for the project; Work on the contract will not commence until the bill enacted by the general assembly that appropriates the money for the project becomes law; The vendor is required to honor its contract price through the date that work on the contract commences; The state agency may amend terms of the contract, as necessary, following the date on which the bill that appropriates the money for the project becomes law; The state agency will authorize the vendor to begin work on the contract within 30 days of the date that the bill that appropriates the money for the project becomes law; and The contract is null and void if the general assembly does not appropriate money to the state agency for the project. A state agency may include in a contract awarded any other terms or conditions related to the appropriation of money to the state agency by the general assembly as deemed necessary by the state agency. A state agency that has awarded a contract for a project is required to submit a budget request for the project to the committee in the fiscal year immediately following the fiscal year in which the contract was awarded. (Note: This summary applies to this bill as introduced.)
Statutory Revision Committee. Pursuant to section 24-1-136 (11)(a)(I), Colorado Revised Statutes, any report that is required to be made to the general assembly by an executive agency or the judicial branch on a periodic basis expires on the day after the third anniversary of the date on which the first report was due, unless the general assembly, acting by bill, continues the requirement. The bill addresses the reporting requirements of the department of law. Section 1 of the bill repeals reports that were scheduled to repeal according to section 24-1-136 (11)(a)(I). Currently there is no repeal date in the organic statute. Sections 2 and 3 of the bill continue the reporting requirements indefinitely.(Note: This summary applies to this bill as introduced.)
Statutory Revision Committee. Pursuant to section 24-1-136 (11)(a)(I), Colorado Revised Statutes, any report that is required to be made to the general assembly by an executive agency or the judicial branch on a periodic basis expires on the day after the third anniversary of the date on which the first report was due unless the general assembly, acting by bill, continues the requirement. The bill addresses reporting requirements of the judiciary department. Sections 1 and 5 through 7 of the bill repeal reports that were scheduled to repeal according to section 24-1-136 (11)(a)(I). Currently there are no repeal dates listed in the organic statutes. Sections 2, 3, and 4 of the bill amend the organic statute to remove a requirement to send a report to the general assembly after the scheduled repeal date specified in section 24-1-136 (11)(a)(I).(Note: This summary applies to this bill as introduced.)