Colorado § 24-49.5-103 Authority and responsibility of the director

Colorado Statutes

§ 24-49.5-103 — Authority and responsibility of the director

Colorado § 24-49.5-103

Title 24Government

Art.Minority Business Office

This text of Colorado § 24-49.5-103 (Authority and responsibility of the director) 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. § 24-49.5-103 (2026).

Text

(1)In furtherance of the policy expressed in section 24-49.5-101, the director shall:

(a)Promote the business development of new and existing minority business enterprises in coordination with state economic development activities;

(b)Establish networks among governmental entities, the private sector, and minority business in an effort to promote joint business activities;

(c)Promote minority business participation in federal, state, and local procurement, purchasing, financing, and contracting, in accordance with existing federal and state statutes;

(d)Promote self-sufficiency and survival of minority businesses with the intent of aiding such minority businesses in their attempts to enter the mainstream of Colorado's economy;

(e)Enhance the access of information on inter

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(1) In furtherance
of the policy expressed in section 24-49.5-101, the director shall:

(a) Promote the business development of new and existing minority business
enterprises in coordination with state economic development activities;

(b) Establish networks among governmental entities, the private sector, and
minority business in an effort to promote joint business activities;

(c) Promote minority business participation in federal, state, and local
procurement, purchasing, financing, and contracting, in accordance with existing
federal and state statutes;

(d) Promote self-sufficiency and survival of minority businesses with the
intent of aiding such minority businesses in their attempts to enter the mainstream
of Colorado's economy;

(e) Enhance the access of information on international trade opportunities to
minority businesses in conjunction with Colorado's international trade activities;

(f) Provide economic research and information on minority businesses for the
use of federal and local governmental agencies, private industry, labor, and
professional and other groups. The office shall make efforts to recover the costs
associated with this paragraph (f) through user fees.

(2) The director may receive funds from the private sector for the purposes
of conducting or implementing projects and other necessary operations of the
office. All funds received shall be placed in the minority business fund created in
section 24-49.5-104.

(3) The director shall develop and implement performance and
accountability standards. Such standards shall include, but shall not be limited to,
the following:

(a) The fees established pursuant to paragraph (f) of subsection (1) of this
section;

(b) The number of businesses by race and ethnicity including the protected
groups known as African Americans, Hispanic Americans, Asian Americans, Native
Americans, and any other minority ethnic groups assisted by the office and the
actual moneys associated therewith;

(c) The type of assistance provided to the businesses assisted;

(d) The number of new jobs created;

(e) The number of existing jobs retained;

(f) An overview of the minority business office's successes and failures;

(g) The amount of revenues added to the state's economy due to the efforts
of the minority business office;

(h) The year-end annual report of the minority business office;

(i) The types of businesses assisted;

(j) The geographical location of businesses assisted;

(k) Any suggestions for greater minority participation in the state's economy;
and

(l) An accounting of private and public funding and expenditures.