§ 39-30.5-107 — Rural jump-start zone reporting requirements

Colorado § 39-30.5-107

• Jurisdiction: Colorado
• Title 39: Taxation
• Art.: Rural Jump-start Zone Act

Text

(1) The
commission shall annually post on the Colorado office of economic development's
website, and include in the commission's annual report required to be presented to
the general assembly pursuant to section 24-46-104 (2), the following information
regarding any rural jump-start zone program benefits allowed under this article
30.5:

(a) The distressed county and interested municipalities that make up each
rural jump-start zone, the number of approved rural jump-start zones, the
distribution of new businesses across rural jump-start zones, and the number of
rural jump-start zones that have graduated from the rural jump-start zone program,
including a comparison of such numbers before and after the rural jump-start
program renewal in 2020;

(a.5) Information regarding the tier one transition communities that are a
part of any rural jump-start zones;

(b) The state institution of higher education or economic development
organization that submitted the application;

(c) The name, type, and active or inactive status of each approved new
business, including whether the new business is in an advanced industry as defined
in section 24-48.5-117 (2)(a), and a comparison of the total number of approved and
active new businesses over time;

(d) Evidence of any ancillary economic development occurring in any rural
jump-start zone as a result of the rural jump-start program;

(e) The tax year for which the first credit certificate is issued or the date the
sales and use tax refund is authorized;

(f) The number of new hires hired and the number of individuals hired by a
new business that do not meet the new hire definition specified in section 39-30.5-103 (8);

(g) The average salary or hourly wage of each new hire;

(h) An estimated amount, as calculated by the new business, of the income
tax credits for the new business and any new hires and the sales and use tax
refunds allowed in section 39-30.5-105, and an estimated amount, as calculated by
the new business, of incentive payments, exemptions, or refunds provided by local
governments as allowed in section 39-30.5-106;

(h.5) The types of grants, grant amounts, and information regarding grant
recipients for all grants awarded under section 39-30.5-105 (5); and

(i) Any other economic benefits resulting from the rural jump-start zone
program.

(2) Any new business located in a rural jump-start zone must submit an
annual report to the commission in a form and at such time and with such
information as prescribed by the commission in its guidelines. Such information
shall be sufficient for the commission to monitor the continued eligibility of the new
business and the new hires to continue to participate in the rural jump-start zone
program and to receive the rural jump-start zone program benefits.

Legislative History

Source: L. 2015: Entire article added, (SB 15-282), ch. 186, p. 618, � 1, effective May 13. L. 2020: (1) amended, (HB 20-1003), ch. 234, p. 1136, � 5, effective September 14. L. 2021: (1)(a.5) and (1)(h.5) added and (1)(h) amended, (SB 21-229), ch. 236, p. 1242, � 5, effective June 15.