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SB21-229

Rural Jump-start Zone Grant Program

Concerning the creation of the rural jump-start zone grant program, and, in connection therewith, making an appropriation.
Session:
2021 Regular Session
Subjects:
Business & Economic Development
Fiscal Policy & Taxes
Bill Summary

The bill creates the rural jump-start zone grant program (grant program) and authorizes the Colorado economic development commission (commission) to issue grants, subject to available appropriations, as follows:

  • Up to $20,000 to new businesses to establish operations;
  • Up to $40,000 to new businesses to establish operations in a tier one transition community;
  • Up to $2,500 to new businesses for each new hire; and
  • Up to $5,000 to new businesses for each new hire who is hired for operations established in a tier one transition community.

The bill also authorizes the commission to issue grants, at its discretion and subject to available appropriations, not to exceed $30,000 per applicant, to a state institution of higher education or an economic development organization that collaborates with a new business in order to support the new business in meeting the requirements for the business under the grant program.

The bill creates the rural jump-start zone grant fund account in the Colorado economic development fund, which consists of any money appropriated to the fund by the general assembly, and may be used:

  • By the commission to issue grants; and
  • For the direct and indirect costs that the Colorado office of economic development incurs, not to exceed a specified amount, to administer the grant program.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed
Became Law

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Bill Text

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NORTH ENTRANCE IS CURRENTLY CLOSED.  TO ENTER THE CAPITOL, USE THE SOUTH ENTRANCE, UNDER THE STAIRS, AT 14th AVENUE AND SHERMAN STREET.