Skip to main content
Colorado General AssemblyToggle Main Menu
Agency NameToggle Agency Menu
HB24-1453

Relocate Title 24 CLIMBER Act

Concerning the relocation of the CLIMBER Act from the department of the treasury to the office of economic development.
Session:
2024 Regular Session
Subjects:
Business & Economic Development
State Government
Bill Summary

The act relocates the "Colorado Loans for Increasing Main Street Business Economic Recovery Act" and renames it the "Colorado Loans for Increasing Main Street Business Economic Resiliency Act" (CLIMBER Act). The administration of the CLIMBER Act small business recovery and resiliency loan program (loan program) is moved and the powers, duties, and functions associated with the administration of the CLIMBER Act are transferred from the department of the treasury to the office of economic development (office). Along with this relocation, the act makes the following changes to the CLIMBER Act:

  • Removes the requirement for the loan program that at least 90% of the money in any prior tranche be invested in small business loans before the office can provide another tranche to a loan program or to the Colorado credit reserve;
  • Allows the office to accept and expend gifts, grants, donations, and federal funds to support the CLIMBER Act and credits this money to the existing small business recovery and resiliency fund; and
  • Removes the future repeal of the CLIMBER Act.

APPROVED by Governor June 3, 2024

EFFECTIVE September 1, 2024
(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

Menu

Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    06/03/2024 Signed Act PDF
    05/17/2024 Final Act PDF
    05/03/2024 Rerevised PDF
    05/02/2024 Revised PDF
    04/26/2024 Reengrossed PDF
    04/25/2024 Engrossed PDF
    04/15/2024 Introduced PDF