Colorado § 24-48.5-609 Transfer of functions - continuity of existence

Colorado Statutes

§ 24-48.5-609 — Transfer of functions - continuity of existence

Colorado § 24-48.5-609

Title 24Government

Art.Office of Economic Development

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Bluebook

Colo. Rev. Stat. § 24-48.5-609 (2026).

Text

(1)On September 1, 2024, the powers, duties, and functions of the department in connection with the small business recovery and resiliency loan program pursuant to the former part 2 of article 36 of this title 24 are transferred to the office pursuant to this section.

(2)(a) On and after September 1, 2024, the officers and employees of the department whose powers, duties, and functions concern the small business recovery and resiliency loan program and whose employment is deemed necessary to carry out the small business recovery and resiliency loan program are transferred to the division of business funding and incentives within the office and become employees thereof.

(b)Any employees who are transferred to the office pursuant to this subsection (2) and who are classified e

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(1) On
September 1, 2024, the powers, duties, and functions of the department in
connection with the small business recovery and resiliency loan program pursuant
to the former part 2 of article 36 of this title 24 are transferred to the office
pursuant to this section.

(2) (a) On and after September 1, 2024, the officers and employees of the
department whose powers, duties, and functions concern the small business
recovery and resiliency loan program and whose employment is deemed necessary
to carry out the small business recovery and resiliency loan program are
transferred to the division of business funding and incentives within the office and
become employees thereof.

(b) Any employees who are transferred to the office pursuant to this
subsection (2) and who are classified employees in the state personnel system shall
retain all rights to the personnel system and retirement benefits pursuant to the
laws of the state, and their services shall be deemed to have been continuous. All
transfers and any abolishment of positions in the state personnel system shall be
made and processed in accordance with state personnel system laws and
regulations.

(3) On or before September 1, 2024, all items of property, real and personal,
including office furniture and fixtures, books, documents, and records of the
department pertaining to the powers, duties, and functions transferred to the office
are transferred to and become the property of the office.

(4) Whenever the department or the state treasurer is referred to or
designated by a contract or other document in connection with the powers, duties,
and functions transferred to the office pursuant to this section, such reference or
designation will be deemed to apply to the office, as applicable. All contracts
entered into by the department or the state treasurer prior to September 1, 2024, in
connection with the small business recovery and resiliency loan program are hereby
validated, with the office succeeding to all the rights and obligations of such
contracts. Any appropriations of money from prior fiscal years open to satisfy
obligations incurred pursuant to such contracts are transferred and appropriated to
the office for the payment of such obligations.

(5) All policies and guidelines of the department in connection with the
powers, duties, and functions transferred to the office pursuant to this section
continue to be effective until revised, amended, repealed, or nullified pursuant to
law.

(6) The relocation of the CLIMBER Act from the department to the office
pursuant to this part 6 does not affect the validity of any agreements entered into
by or tax credit certificates issued by the state treasurer or the department
pursuant to the authority contained in part 2 of article 36 of title 24 as it existed
prior to September 1, 2024.