Bill > SB190

This bill proposes several economic measures related to coal transition communities in Colorado. Key provisions include: - Creating an income tax credit for businesses that use certain freight rail lines at risk of abandonment or inactivity due to reduced coal shipping, in order to incentivize new or expanded freight rail use and support economic development in these communities. - Creating an income tax credit for railroad operators to help maintain, operate, and improve rail lines at risk of abandonment or inactivity in coal transition communities. - Expanding the duties of the rural opportunity office to pursue new business and industry development opportunities and economic diversification in coordination with workforce training in coal transition communities. - Allowing coal transition communities to qualify as enterprise zones and enhanced rural enterprise zones, which can provide various tax credits and other benefits to businesses. - Restricting the length of contracts for use of the Moffat Tunnel, which is critical infrastructure for freight and passenger rail in the state. The bill also makes an appropriation to the Office of the Governor to provide additional staffing for the rural opportunity office to implement these measures.

Budget and Finance

https://leg.colorado.gov/bills/sb24-190