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Bill Tracker

based on: Profile: 2014 Tech Transfer

 
 
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Bill: HB14-1011
Title: Advanced Industry Economic Development Funding
Official Summary

Under current law, the state treasurer is required to make 4 annual
transfers from the general fund to the advanced industries export
acceleration cash fund (fund). The bill requires each of those transfers to
be made 6 months earlier. Any unexpended and unencumbered moneys
from an appropriation made from the fund to the office of international
trade remain available for expenditure by the office in the next fiscal year
without further appropriation.
For 6 years beginning on July 1, 2014, the state treasurer is
required to transfer annually $12 million from the general fund to the
advanced industries acceleration cash fund. These transfers will be
included for informational purposes in the annual general appropriation
act.
The bill makes explicit the office of economic development and
international trade's authority to expend gifts, grants, or donations that the
office is currently authorized to seek and accept.

Senate SponsorsR. Heath (D)
House SponsorsC. Gerou (R)
D. Young (D)
Status (05/17/2014)
Hearing Date
Hearing Time
Hearing Room

Bill: HB14-1012
Title: Advanced Industry Investment Income Tax Credit
Official Summary

The bill repeals the Colorado innovation investment tax credit and
replaces it with the advanced industry investment tax credit (tax credit).
The tax credit is available for a qualified investor who, prior to January
1, 2018, makes an equity investment in a qualified small business from
the advanced industries, which consists of advanced manufacturing,
aerospace, bioscience, electronics, energy and natural resources,
information technology, and infrastructure engineering. The tax credit is
equal to 25% of the investment or, if the qualified business is located in
a rural area or economically distressed area, it is equal to 30%. The
maximum amount of credit for a single tax credit is $50,000, and the
maximum of all tax credits allowed for a calendar year is $2 million;
except that unused tax credits from 2014 may roll over into 2015. A tax
credit may not be refunded, but it may be carried forward for 5 tax years.
The Colorado office of economic development (office) determines
the eligibility for the tax credit and issues nontransferable tax credit
certificates as evidence of eligibility and the amount of the tax credit. To
claim the tax credit, a taxpayer must submit a copy of the tax credit
certificate. The office and the department of revenue are required to share
information related to the tax credit. In 2017, the office is required to
submit to legislative committees a report that includes information about
the tax credits issued and the economic benefits from the related qualified
investments.
The state treasurer is required to transfer moneys from the repealed
innovation investment tax credit cash fund to the newly created advanced
industry investment tax credit cash fund. The general assembly shall
appropriate any moneys in the fund to the office for the direct and indirect
costs associated with the authorizing tax credits.

Senate SponsorsJ. Kefalas (D)
House SponsorsC. Gerou (R)
M. Tyler (D)
Status (05/29/2014)
Hearing Date
Hearing Time
Hearing Room

Bill: HB14-1013
Title: Advanced Industries Workforce Development Program
Official Summary

The bill creates the advanced industries workforce development
program in the Colorado office of economic development (office). The
purpose of the program is to allow the office to reimburse a business for
one-half of its expenses related to a qualifying internship or
apprenticeship. A qualifying internship or apprenticeship is one that:
  • Is in an advanced industry;
  • Is for at least 160 hours and that lasts less than one year;
  • Allows students to gain valuable work experience in at
least 3 specified occupational areas;
  • Pays the intern or apprentice a stipend;
  • Provides a mentor or supervisor that will work closely with
the intern or apprentice;
  • Is not for the purpose of meeting required residency or
clinical hours for the intern;
  • Is with an advanced industry business that has a physical
operation facility in the state;
  • Is for a high-school or college student, a resident who is a
student at an out-of-state college, or a recent grad of either;
and
  • Along with all other internships and apprenticeships,
constitutes less than 50% of the business's workforce
located in the state.
A business may be reimbursed for up to 5 interns and apprentices
per location and up to 10 at all locations, but the maximum amount that
a business may be reimbursed for each internship or apprenticeship is
$5,000, of which no more than $2,500 may be for a stipend paid to the
intern or apprentice. The office is required to contract with multiple
intermediaries, which are advanced industry associations, to facilitate the
program administration. The office may permit an intermediary to:
  • Match an intern or apprentice with a business;
  • Identify qualifying internships and apprenticeships;
  • Submit reimbursement applications to the office;
  • Provide assessments of the program to the office; and
  • Identify job placement for the interns and apprentices.
For the next 3 fiscal years, the general assembly is required to
annually appropriate $450,000 from the general fund to the office for
program reimbursements. The general assembly is also required to make
a general fund appropriation to the office for program administration
expenses.
The office is required to solicit information about apprenticeships
and internships that were reimbursed through the program and to submit
a report to legislative committees about the program.

Senate SponsorsN. Todd (D)
House SponsorsS. Lee (D)
M. Foote (D)
Status (05/01/2014)
Hearing Date
Hearing Time
Hearing Room

Bill: HB14-1179
Title: Veterans Workforce Accelerator Grant Program
Official Summary

The bill creates the veterans workforce accelerator grant program
(grant program). The grant program awards grants to an eligible recipient
as matching funding for an accelerated, hands-on skills training program
for advanced industry jobs. The department of labor and employment
(department) administers the grant program, and the state workforce
development council (state council) awards the grant based on criteria
outlined in the bill, with preference given to a training program that has,
as a core component, advanced industry skills training for veterans.
The bill creates the veterans workforce accelerator fund for the
grant program.
The department is required to establish reporting requirements for
the grant recipient and to report to the general assembly concerning the
grant program and the use and effectiveness of grant funds.

Senate Sponsors
House SponsorsL. Landgraf (R)
Status (02/18/2014)
Hearing Date
Hearing Time
Hearing Room
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