Colorado § 24-48.5-608 Small business recovery and resiliency fund - repeal

Colorado Statutes

§ 24-48.5-608 — Small business recovery and resiliency fund - repeal

Colorado § 24-48.5-608

Title 24Government

Art.Office of Economic Development

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Bluebook

Colo. Rev. Stat. § 24-48.5-608 (2026).

Text

(1)The small business recovery and resiliency fund is hereby created in the state treasury. The fund consists of:

(a)Tax credit sale proceeds received from qualified taxpayers and deposited in the fund pursuant to section 24-48.5-605;

(b)Distributions, revenue, or money returned to the state from a loan program established pursuant to section 24-48.5-605 and deposited in the fund;

(c)Any other money that the general assembly may appropriate or transfer to the fund; and

(d)Any gifts, grants, donations, or federal funds received pursuant to subsection (7) of this section.

(2)(a) For state fiscal years commencing on or before July 1, 2024, and on or after July 1, 2026, the state treasurer shall credit all interest and income derived from the deposit and investment of money

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(1) The
small business recovery and resiliency fund is hereby created in the state treasury.
The fund consists of:

(a) Tax credit sale proceeds received from qualified taxpayers and deposited
in the fund pursuant to section 24-48.5-605;

(b) Distributions, revenue, or money returned to the state from a loan
program established pursuant to section 24-48.5-605 and deposited in the fund;

(c) Any other money that the general assembly may appropriate or transfer
to the fund; and

(d) Any gifts, grants, donations, or federal funds received pursuant to
subsection (7) of this section.

(2) (a) For state fiscal years commencing on or before July 1, 2024, and on or
after July 1, 2026, the state treasurer shall credit all interest and income derived
from the deposit and investment of money in the small business recovery and
resiliency fund to the fund.

(b) For the state fiscal year commencing on July 1, 2025, in accordance with
section 24-36-114 (1), the state treasurer shall credit all interest and income derived
from the deposit and investment of money in the small business recovery and
resiliency fund to the general fund.

(c) (I) On June 30, 2025, the state treasurer shall transfer one million sixty-three thousand five hundred twenty-six dollars from the small business recovery
and resiliency fund to the general fund.

(II) This subsection (2)(c) is repealed, effective July 1, 2026.

(3) Money in the fund is continuously appropriated to the office for the
purposes specified in this part 6. The office may expend money in the fund to pay
for its direct and indirect costs in implementing and administering this part 6.

(4) to (6) (Deleted by amendment, L. 2024).

(7) The office may seek, accept, and expend gifts, grants, or donations from
private or public sources for the purposes of this part 6. The office may accept and
expend any federal money made available for any purpose consistent with the
provisions of this part 6. The office shall transmit all money received through gifts,
grants, donations, or federal money to the state treasurer, who shall credit the
money to the small business recovery and resiliency fund.

Legislative History

Source: L. 2024: Entire part added with relocations, (HB 24-1453), ch. 355, p. 2428, � 1, effective September 1. L. 2025: (2) amended, (SB 25-317), ch. 385, p. 2156, � 33, effective June 3.