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HB24-1396

General Fund Transfer to Advanced Industries Programs

Concerning the transfer of money from the general fund to the advanced industries acceleration cash fund, and, in connection therewith, extending the "Colorado Bioscience and Clean Technology Innovation Reinvestment Act" for an additional eight years.
Session:
2024 Regular Session
Subjects:
Business & Economic Development
State Revenue & Budget
Bill Summary

The advanced industries acceleration cash fund (AI cash fund) consists, in part, of money transferred annually to the fund from the general fund pursuant to the "Colorado Bioscience and Clean Technology Innovation Reinvestment Act" (bioscience act). The amount of money transferred pursuant to the bioscience act is based on the amount of income tax withholding for certain bioscience and clean technology occupation classifications. The act extends both the transfers to the AI cash fund and the bioscience act, which had respectively been scheduled to repeal on July 1, 2025, and July 1, 2026, for an additional 8 years so that the last transfer is scheduled for March 1, 2033, and the bioscience act is scheduled to repeal, effective July 1, 2034.

APPROVED by Governor April 18, 2024

EFFECTIVE April 18, 2024
(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    04/18/2024 Signed Act PDF
    04/12/2024 Final Act PDF
    04/05/2024 Rerevised PDF
    04/04/2024 Revised PDF
    04/01/2024 Reengrossed PDF
    03/28/2024 Engrossed PDF
    03/25/2024 Introduced PDF

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. S. Bird, Rep. R. Taggart
Sen. J. Bridges, Sen. B. Kirkmeyer

Sponsor

Rep. E. Sirota
Sen. R. Zenzinger

Co-sponsor

Rep. M. Duran, Rep. W. Lindstedt, Rep. B. Marshall, Rep. J. McCluskie, Rep. M. Snyder, Rep. M. Soper, Rep. B. Titone, Rep. A. Valdez, Rep. M. Young
Sen. M. Baisley, Sen. K. Priola, Sen. P. Will