summary
Introduced
01/31/2024
01/31/2024
In Committee
02/22/2024
02/22/2024
Crossed Over
Passed
Dead
05/08/2024
05/08/2024
Introduced Session
2024 Regular Session
Bill Summary
The bill creates the economic development organization (EDO) action grant program (program) within the Colorado office of economic development (office) to provide grants to Colorado-based EDOs to support and increase EDO capacity to implement community-specific economic development programming, as identified in each EDO's program application. The office is required to administer the program in consultation with the Colorado economic development commission and a statewide economic development organization. The economic development organization grant program cash fund (fund) is created in the state treasury, and the office is required to award program grants from the fund. The state treasurer is required to transfer $2 million from the general fund to the fund on July 1, 2024.
AI Summary
This bill creates the Economic Development Organization (EDO) Action Grant Program within the Colorado Office of Economic Development (Office) to provide grants to Colorado-based EDOs to support and increase their capacity to implement community-specific economic development programming. The Office is required to administer the program in consultation with the Colorado Economic Development Commission and a statewide economic development organization. The bill establishes the Economic Development Organization Action Grant Cash Fund and requires the State Treasurer to transfer $2 million from the General Fund to the Fund on July 1, 2024. The Office will award grants from the Fund to eligible EDOs, which must meet certain criteria and submit applications describing their proposed economic development initiatives and how they will measure their success.
Committee Categories
Business and Industry
Sponsors (4)
Last Action
House Committee on Appropriations Lay Over Unamended - Amendment(s) Failed (on 05/14/2024)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://leg.colorado.gov/bills/hb24-1160 |
| Fiscal Note FN2 | https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_hb1160_f1.pdf |
| Fiscal Note FN1 | https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_hb1160_00.pdf |
| BillText | https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_1160_01.pdf |
Loading...