Colorado § 24-48.5-603 Definitions

Colorado Statutes

§ 24-48.5-603 — Definitions

Colorado § 24-48.5-603

Title 24Government

Art.Office of Economic Development

This text of Colorado § 24-48.5-603 (Definitions) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 24-48.5-603 (2026).

Text

As used in this part 6, unless the context otherwise requires:

(1)Colorado credit reserve means the Colorado credit reserve program described in section 24-46-104 (1)(n).

(2)Contract means a contract entered into by the office of economic development in accordance with section 24-48.5-605 (1).

(3)Department means the department of the treasury.

(4)Eligible borrower means a business that, as determined by the oversight board:

(a)Has its principal place of business in the state;

(b)Has at least one but fewer than one hundred employees;

(c)Can demonstrate that it had at least one year of positive cash flow as determined by the oversight board; and

(d)Can demonstrate that it has a current debt-service coverage ratio of at least one-to-one or a higher level as determined b

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As used in this part 6, unless the context
otherwise requires:

(1) Colorado credit reserve means the Colorado credit reserve program
described in section 24-46-104 (1)(n).

(2) Contract means a contract entered into by the office of economic
development in accordance with section 24-48.5-605 (1).

(3) Department means the department of the treasury.

(4) Eligible borrower means a business that, as determined by the
oversight board:

(a) Has its principal place of business in the state;

(b) Has at least one but fewer than one hundred employees;

(c) Can demonstrate that it had at least one year of positive cash flow as
determined by the oversight board; and

(d) Can demonstrate that it has a current debt-service coverage ratio of at
least one-to-one or a higher level as determined by the oversight board.

(5) Loan program means the small business recovery and resiliency loan
program established in accordance with section 24-48.5-605.

(6) Loan program manager means an entity the office of economic
development contracts with to establish and administer the loan program in
accordance with section 24-48.5-605 (2).

(7) Office means the Colorado office of economic development created in
section 24-48.5-101.

(8) Oversight board means the small business recovery and resiliency loan
program oversight board created in section 24-48.5-604.

(9) Premium tax liability means the liability imposed by section 10-3-209 or
10-6-128, or, in the case of a repeal or reduction by the state of the liability imposed
by section 10-3-209 or 10-6-128, any other tax liability imposed upon an insurance
company by the state.

(10) Qualified taxpayer means an insurance company authorized to do
business in Colorado that has premium tax liability owing to the state and that
purchases a tax credit under this part 6. Qualified taxpayer also includes an
insurance company that receives or assumes a tax credit transferred in accordance
with section 24-48.5-606 (7)(e) or 24-48.5-607 (6), or that receives or assumes a
tax credit as an affiliate of a qualified taxpayer or transferee. For purposes of this
part 6, affiliate has the same meaning as set forth in section 10-3-801 (1).

(11) Small business recovery and resiliency fund or fund means the small
business recovery and resiliency fund established in section 24-48.5-608.

(12) Small business recovery tax credit or tax credit means the tax credit
created in section 24-48.5-606.

(13) Tax credit sale proceeds or sale proceeds means the money or other
liquid asset acceptable to the state treasurer that a qualified taxpayer pays to the
department and that is deposited in the small business recovery and resiliency
fund.