Colorado 2024 Regular Session

Colorado House Bill HB1365 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
	1	+	Second Regular Session
	2	+	Seventy-fourth General Assembly
	3	+	STATE OF COLORADO
	4	+	REREVISED
	5	+	This Version Includes All Amendments
	6	+	Adopted in the Second House
	7	+	LLS NO. 24-0727.03 Jed Franklin x5484
1	8		HOUSE BILL 24-1365
2		-	~~BY REPRESENTATIVE(S) Lukens and Soper, Amabile, Bacon, Bird,~~
3		-	~~Boesenecker, Brown,~~ ~~Daugherty, English,~~ ~~Jodeh, Lieder, Lindstedt, Mauro,~~
4		-	~~Titone, Woodrow, McCluskie;~~
5		-	~~also SENATOR(S) Bridges and Will, Buckner, Cutter, Michaelson Jenet,~~
6		-	~~Priola.~~
	9	+	House Committees Senate Committees
	10	+	Business Affairs & Labor Finance
	11	+	Finance Appropriations
	12	+	Appropriations
	13	+	A BILL FOR AN ACT
7	14		C
8		-	ONCERNING REGIONAL TALENT DEVELOPMENT INITIATIVES , AND, IN
9		-	CONNECTION THEREWITH
10		-	, CREATING THE REGIONAL TALENT SUMMIT
11		-	GRANT PROGRAM AND AN INCOME TAX CREDIT FOR FACILITY
12		-	IMPROVEMENT AND EQUIPMENT ACQUISITION COSTS ASSOCIATED
13		-	WITH TRAINING PROGRAMS DESIGNED TO ALLEVIATE WORKFORCE
14		-	SHORTAGES AND MAKING AN APPROPRIATION
15		-	.
16		-
17		-	Be it enacted by the General Assembly of the State of Colorado:
18		-	SECTION 1. Legislative declaration. (1) The general assembly
19		-	hereby finds and declares that:
20		-	(a) House Bill 22-1350, enacted in 2022, established the regional
21		-	talent development initiative act to invest in regional partnerships that
22		-	encourage workforce development and respond to regional talent needs.
23		-	The grant program, opportunity now, granted twenty-seven million dollars
24		-	________
25		-	Capital letters or bold & italic numbers indicate new material added to existing law; dashes
26		-	through words or numbers indicate deletions from existing law and such material is not part of
27		-	the act. to forty-six grantees and created over two hundred thirty industry and
28		-	educational partnerships with the first round of funding. The second and
29		-	third rounds of investment demonstrate Colorado's ongoing commitment to
30		-	innovation, regional planning, economic development, and collaboration.
31		-	(b) However, Colorado continues to experience workforce shortages
32		-	due to the mismatch of jobs available and the skilled talent needed to fill
33		-	them. This challenge is heightened by recent federal investment in programs
34		-	like the federal "Infrastructure Investment and Jobs Act", Pub.L. 117-58,
35		-	the federal "Inflation Reduction Act of 2022", Pub.L. 117-169, and the
36		-	federal "CHIPS and Science Act of 2022", Pub.L. 117-167, which create
37		-	additional demands for skilled talent.
38		-	(c) Data shows that Colorado currently needs thirty-three thousand
39		-	five hundred infrastructure and construction workers, and is projected to
40		-	need an additional fifty thousand construction workers by the end of the
41		-	decade, including an additional twenty thousand clean energy construction
42		-	jobs. Colorado is projected to need six thousand ninety-eight construction
43		-	laborers alone to respond to "Infrastructure Investment and Jobs Act"
44		-	project needs.
45		-	(d) More skilled talent in infrastructure, advanced manufacturing,
46		-	and clean energy is needed for Colorado to take full advantage of federal
47		-	investments and achieve Colorado's ambitious housing, climate, broadband,
48		-	and infrastructure goals. By investing an additional round of general fund
49		-	funding into the opportunity now program, with a focus on infrastructure
50		-	and building trades, Colorado makes an important investment in the
51		-	workforce needed to build more housing now.
52		-	(e) Expanding the opportunity now program with a refundable tax
53		-	credit expands the scope of this work for years to come. This refundable tax
54		-	credit will support qualified applicants in increasing their training capacity
55		-	and capabilities so that Colorado has the workforce needed to respond to
56		-	federal investments as they break ground and achieve statewide priorities.
57		-	(f) The workforce shortage tax credit is intended to continue the
58		-	opportunity now program by seeding investments that benefit the education
59		-	and training system broadly;
60		-	(g) The regional talent summit grant program is also created to
61		-	PAGE 2-HOUSE BILL 24-1365 affirm Colorado's collaborative, locally-driven, and state-supported
62		-	approach to regional talent planning. These summits will allow for industry,
63		-	business associations, community-based organizations, talent development
64		-	practitioners, local workforce centers, local education providers, institutions
65		-	of higher education, and state agencies to identify the workforce needs and
66		-	resources of their areas. By seeding new partnerships to develop shared
67		-	workforce and economic development goals, these summits will allow
68		-	Colorado's regions to plan for and leverage local and state resources to
69		-	achieve them.
70		-	(2) Therefore, the regional talent summit grant program and the
71		-	workforce shortage tax credit are important tools for Colorado to address
72		-	the need for talent acquisition and retention.
73		-	SECTION 2. In Colorado Revised Statutes, 24-48.5-405, amend
74		-	(1)(c)(II) and (1)(c)(III); and add (1)(c)(IV) and (1)(c)(V) as follows:
75		-	24-48.5-405. Regional talent development initiative grant
76		-	program - creation - administration - eligibility - application review -
77		-	report. (1) (c) In prioritizing grant applications and awarding grants, the
78		-	office, in collaboration with the departments and the selection committee,
79		-	shall strive to meet the following grant program goals:
80		-	(II) To create intentional pathways between kindergarten through
81		-	twelfth grade education, higher education, and employment that allow
82		-	learners and earners to transition more easily into and out of each system
83		-	and that ensure a highly skilled and well-educated workforce; and
84		-	(III) To provide more opportunities for regional learners and earners
85		-	to be more economically mobile and earn a living wage in an in-demand,
86		-	high-skill, high-wage occupation;
	15	+	ONCERNING REGIONAL TALENT DEVELOPMENT INITIATIVES , AND, IN101
	16	+	CONNECTION THEREWITH , CREATING THE REGIONAL TALENT102
	17	+	SUMMIT GRANT PROGRAM AND AN INCOME TAX CREDIT FOR103
	18	+	FACILITY IMPROVEMENT AND EQ UIPMENT ACQUISITION COSTS104
	19	+	ASSOCIATED WITH TRAINING PROGRAMS DESIGNED TO105
	20	+	ALLEVIATE WORKFORCE
	21	+	SHORTAGES AND MAKING AN106
	22	+	APPROPRIATION.107
	23	+	Bill Summary
	24	+	(Note: This summary applies to this bill as introduced and does
	25	+	not reflect any amendments that may be subsequently adopted. If this bill
	26	+	passes third reading in the house of introduction, a bill summary that
	27	+	applies to the reengrossed version of this bill will be available at
	28	+	http://leg.colorado.gov
	29	+	.)
	30	+	SENATE
	31	+	3rd Reading Unamended
	32	+	May 6, 2024
	33	+	SENATE
	34	+	2nd Reading Unamended
	35	+	May 4, 2024
	36	+	HOUSE
	37	+	3rd Reading Unamended
	38	+	April 26, 2024
	39	+	HOUSE
	40	+	Amended 2nd Reading
	41	+	April 25, 2024
	42	+	HOUSE SPONSORSHIP
	43	+	Lukens and Soper, Amabile, Bacon, Bird, Boesenecker, Brown, Daugherty, English,
	44	+	Jodeh, Lieder, Lindstedt, Mauro, McCluskie, Titone, Woodrow
	45	+	SENATE SPONSORSHIP
	46	+	Bridges and Will, Buckner, Cutter, Michaelson Jenet, Priola
	47	+	Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
	48	+	Capital letters or bold & italic numbers indicate new material to be added to existing law.
	49	+	Dashes through the words or numbers indicate deletions from existing law. On July 1, 2024, the bill requires a one-time $3.8 million transfer
	50	+	from the general fund to the regional talent development initiative grant
	51	+	program fund to address workforce shortages in infrastructure and
	52	+	building trades. Of this amount, not more than 7% may be used for the
	53	+	administrative costs incurred to administer the regional talent
	54	+	development initiative grant program.
	55	+	The regional talent summit grant program (grant program) is
	56	+	created and is to be administered by the governor's office of economic
	57	+	development and international trade (office). The grant program, through
	58	+	a selection committee, will award grants to and contract with a program
	59	+	facilitator to develop regional summits across the state. The program
	60	+	facilitator will understand workforce development needs in identified
	61	+	regions of the state, generate a landscape analysis for each identified
	62	+	region that includes job projections and an overview of educational
	63	+	pathways, gather insight from employers about critical workforce and
	64	+	training needs, create regional goals for addressing talent needs, and
	65	+	develop comprehensive tactical plans. Beginning January 1, 2026, any
	66	+	modified or new local workforce development plan must incorporate the
	67	+	tactical plans. The program facilitator must complete all regional talent
	68	+	summits on or before July 1, 2025, and submit workforce plans as a result
	69	+	of the regional talent summits by December 1, 2025.
	70	+	The grant program, through a selection committee, will also award
	71	+	grants to one or more regional hosts to secure facilities to host regional
	72	+	talent summits, determine community partners to attend the summits, and
	73	+	gather insight from regional employers about critical workforce and
	74	+	training needs.
	75	+	The regional talent summit development initiative grant program
	76	+	fund (fund) is created in the state treasury. On July 1, 2024, the state
	77	+	treasurer shall transfer $200,000 from the general fund to the fund. The
	78	+	money in the fund is continuously appropriated to the office.
	79	+	The bill establishes a state income tax credit (tax credit) for the
	80	+	costs of facility improvement and equipment acquisition associated with
	81	+	training programs designed to alleviate workforce shortages beginning
	82	+	January 1, 2026. A qualified taxpayer in a qualified industry may earn a
	83	+	tax credit equal to up to 50% of the costs incurred by the qualified
	84	+	taxpayer to improve its facilities and acquire equipment. The tax credit is
	85	+	refundable and may not be carried forward.
	86	+	To claim the tax credit, a qualified taxpayer must first reserve the
	87	+	tax credit by applying to be in the evaluation pool established by the
	88	+	office. A selection committee will consider the merits of each application
	89	+	to determine which taxpayers are qualified to reserve the tax credit. If a
	90	+	taxpayer is qualified and approved, the taxpayer is required to incur
	91	+	facility improvements and equipment acquisition costs to claim the tax
	92	+	credit. If the applicant submits evidence that the costs were incurred
	93	+	1365
	94	+	-2- during the income tax year for which the applicant applied, and those
	95	+	costs are certified by a certified public accountant, the applicant may be
	96	+	awarded a tax credit. The aggregate amount of tax credits reserved in one
	97	+	calendar year cannot exceed $15 million.
	98	+	The executive director of the department of revenue may require
	99	+	a person or organization not subject to tax or a person or organization
	100	+	exempt from taxes to make and file a return containing information
	101	+	prescribed by the executive director to claim the tax credit.
	102	+	Be it enacted by the General Assembly of the State of Colorado:1
	103	+	SECTION 1. Legislative Declaration. (1) The general assembly2
	104	+	hereby finds and declares that:3
	105	+	(a) House Bill 22-1350, enacted in 2022, established the regional4
	106	+	talent development initiative act to invest in regional partnerships that5
	107	+	encourage workforce development and respond to regional talent needs.6
	108	+	The grant program, opportunity now, granted twenty-seven million7
	109	+	dollars to forty-six grantees and created over two hundred thirty industry8
	110	+	and educational partnerships with the first round of funding. The second9
	111	+	and third rounds of investment demonstrate Colorado's ongoing10
	112	+	commitment to innovation, regional planning, economic development,11
	113	+	and collaboration.12
	114	+	(b) However, Colorado continues to experience workforce13
	115	+	shortages due to the mismatch of jobs available and the skilled talent14
	116	+	needed to fill them. This challenge is heightened by recent federal15
	117	+	investment in programs like the federal "Infrastructure Investment and16
	118	+	Jobs Act", Pub.L. 117-58, the federal "Inflation Reduction Act of 2022",17
	119	+	Pub.L. 117-169, and the federal "CHIPS and Science Act of 2022",18
	120	+	Pub.L. 117-167, which create additional demands for skilled talent.19
	121	+	(c) Data shows that Colorado currently needs thirty-three thousand20
	122	+	five hundred infrastructure and construction workers, and is projected to21
	123	+	1365-3- need an additional fifty thousand construction workers by the end of the1
	124	+	decade, including an additional twenty thousand clean energy2
	125	+	construction jobs. Colorado is projected to need six thousand ninety-eight3
	126	+	construction laborers alone to respond to "Infrastructure Investment and4
	127	+	Jobs Act" project needs.5
	128	+	(d) More skilled talent in infrastructure, advanced manufacturing,6
	129	+	and clean energy is needed for Colorado to take full advantage of federal7
	130	+	investments and achieve Colorado's ambitious housing, climate,8
	131	+	broadband, and infrastructure goals. By investing an additional round of9
	132	+	general fund funding into the opportunity now program, with a focus on10
	133	+	infrastructure and building trades, Colorado makes an important11
	134	+	investment in the workforce needed to build more housing now.12
	135	+	(e) Expanding the opportunity now program with a refundable tax13
	136	+	credit expands the scope of this work for years to come. This refundable14
	137	+	tax credit will support qualified applicants in increasing their training15
	138	+	capacity and capabilities so that Colorado has the workforce needed to16
	139	+	respond to federal investments as they break ground and achieve17
	140	+	statewide priorities.18
	141	+	(f) The workforce shortage tax credit is intended to continue the19
	142	+	opportunity now program by seeding investments that benefit the20
	143	+	education and training system broadly;21
	144	+	(g) The regional talent summit grant program is also created to22
	145	+	affirm Colorado's collaborative, locally-driven, and state-supported23
	146	+	approach to regional talent planning. These summits will allow for24
	147	+	industry, business associations, community-based organizations, talent25
	148	+	development practitioners, local workforce centers, local education26
	149	+	providers, institutions of higher education, and state agencies to identify27
	150	+	1365
	151	+	-4- the workforce needs and resources of their areas. By seeding new1
	152	+	partnerships to develop shared workforce and economic development2
	153	+	goals, these summits will allow Colorado's regions to plan for and3
	154	+	leverage local and state resources to achieve them.4
	155	+	(2) Therefore, the regional talent summit grant program and the5
	156	+	workforce shortage tax credit are important tools for Colorado to address6
	157	+	the need for talent acquisition and retention.7
	158	+	SECTION 2. In Colorado Revised Statutes, 24-48.5-405, amend8
	159	+	(1)(c)(II) and (1)(c)(III); and add (1)(c)(IV) and (1)(c)(V) as follows:9
	160	+	24-48.5-405. Regional talent development initiative grant10
	161	+	program - creation - administration - eligibility - application review11
	162	+	- report. (1) (c) In prioritizing grant applications and awarding grants,12
	163	+	the office, in collaboration with the departments and the selection13
	164	+	committee, shall strive to meet the following grant program goals:14
	165	+	(II) To create intentional pathways between kindergarten through15
	166	+	twelfth grade education, higher education, and employment that allow16
	167	+	learners and earners to transition more easily into and out of each system17
	168	+	and that ensure a highly skilled and well-educated workforce; and18
	169	+	(III) To provide more opportunities for regional learners and19
	170	+	earners to be more economically mobile and earn a living wage in an20
	171	+	in-demand, high-skill, high-wage occupation; 21
87	172		(IV) T
88		-	O ADDRESS WORKFORCE SHORTAGES IN ~~INFRASTRUCTURE AND~~
89		-	BUILDING TRADES BY CREATING MORE OPPORTUNITIES ~~FOR WORKFORCE~~
90		-	DEVELOPMENT PROJECTS IN THESE ~~TRADES~~
91		-	; ~~AND~~
92		-	(V) TO ELEVATE EVIDENCE-BASED WORKFORCE TRAINING ~~AND~~
93		-	RELEVANT PROGRAMS OR SERVICES WHERE PARTICIPANTS ~~FROM~~
94		-	COMMUNITIES THAT HAVE BEEN HISTORICALLY UNDERREPRESENTED
95		-	,
96		-	UNDERSERVED, OR UNDERRESOURCED IN COLORADO ARE ABLE TO ~~EARN A~~
97		-	~~PAGE 3-HOUSE BILL 24-1365~~ LIVING WAGE AND ARE CONNECTED TO EMPLOYMENT OPPORTUNITIES .
98		-	SECTION 3. In Colorado Revised Statutes, 24-48.5-406, ~~add~~
99		-	(1)(a.5) as follows:
100		-	24-48.5-406. Regional talent development initiative ~~grant~~
	173	+	O ADDRESS WORKFORCE SHORTAGES IN INFRASTRUCTURE22
	174	+	AND BUILDING TRADES BY CREATING MORE OPPORTUNITIES FOR23
	175	+	WORKFORCE DEVELOPMENT PROJECTS IN THESE
	176	+	TRADES; AND24
	177	+	(V) TO ELEVATE EVIDENCE-BASED WORKFORCE TRAINING AND25
	178	+	RELEVANT PROGRAMS OR SERVICES WHERE PARTICIPANTS FROM26
	179	+	COMMUNITIES THAT HAVE BEEN HISTORICALLY UNDERREPRESENTED ,27
	180	+	1365
	181	+	-5- UNDERSERVED, OR UNDERRESOURCED IN COLORADO ARE ABLE TO EARN1
	182	+	A LIVING WAGE AND ARE CONNECTED TO EMPLOYMENT OPPORTUNITIES .2
	183	+	SECTION 3. In Colorado Revised Statutes, 24-48.5-406, add3
	184	+	(1)(a.5) as follows:4
	185	+	24-48.5-406. Regional talent development initiative grant5
101	186		program fund - repeal. (1) (a.5) (I) O
102		-	N JULY 1, 2024, THE STATE
103		-	TREASURER SHALL TRANSFER THREE MILLION EIGHT HUNDRED THOUSAND
104		-	DOLLARS FROM THE GENERAL FUND TO THE FUND FOR USE FOR ACHIEVING
105		-	THE GOAL SET FORTH IN SECTION
106		-	24-48.5-405 (1)(c)(IV).
	187	+	N JULY 1, 2024, THE STATE6
	188	+	TREASURER SHALL TRANSFER THREE MILLION EIGHT HUNDRED THOUSAND7
	189	+	DOLLARS FROM THE GENERAL FUND TO THE FUND FOR USE FOR ACHIEVING8
	190	+	THE GOAL SET FORTH IN SECTION 24-48.5-405 (1)(c)(IV).9
107	191		(II) O
108		-	F THE AMOUNT TRANSFERRED TO THE FUND PURSUANT TO
109		-	SUBSECTION
110		-	(1)(a.5)(I) OF THIS SECTION, NOT MORE THAN SEVEN PERCENT
111		-	MAY BE USED FOR THE ADMINISTRATIVE COSTS INCURRED BY THE OFFICE
112		-	AND THE SELECTION COMMITTEE IN ADMINISTERING THE REGIONAL TALENT
113		-	DEVELOPMENT INITIATIVE GRANT PROGRAM
114		-	.
	192	+	F THE AMOUNT TRANSFERRED TO THE FUND PURSUANT TO10
	193	+	SUBSECTION (1)(a.5)(I) OF THIS SECTION, NOT MORE THAN SEVEN PERCENT11
	194	+	MAY BE USED FOR THE ADMINISTRATIVE COSTS INCURRED BY THE OFFICE12
	195	+	AND THE SELECTION COMMITTEE IN ADMINISTERING THE REGIONAL13
	196	+	TALENT DEVELOPMENT INITIATIVE GRANT PROGRAM .14
115	197		(III) T
116		-	HIS SUBSECTION (1)(a.5) IS REPEALED, EFFECTIVE JULY 1,
117		-	2028.
118		-	SECTION 4. In Colorado Revised Statutes, 24-48.5-502, amend
119		-	(1)(b)(V), (4)(a), (4)(b), and (5)(b); and repeal (4)(c) as follows:
120		-	24-48.5-502. Universal high school scholarship program -
121		-	established - administration - cash fund - eligibility. (1) (b) The office
122		-	shall administer the program or may contract with one or more vendors to
123		-	administer the program. The office or vendor shall:
124		-	(V) Audit
125		-	MONITOR, or contract with a vendor to audit MONITOR,
126		-	service providers to ensure that service providers comply with all program
127		-	rules and requirements.
128		-	(4) A student is eligible for a scholarship if the student:
129		-	(a) During the 2023-24 academic year, graduated from a Colorado
130		-	high school or was awarded a high school equivalency credential awarded
131		-	by the Colorado department of education;
	198	+	HIS SUBSECTION (1)(a.5) IS REPEALED, EFFECTIVE JULY 1,15
	199	+	2028.16
	200	+	SECTION 4. In Colorado Revised Statutes, 24-48.5-502, amend17
	201	+	(1)(b)(V), (4)(a), (4)(b), and (5)(b); and repeal (4)(c) as follows:18
	202	+	24-48.5-502. Universal high school scholarship program -19
	203	+	established - administration - cash fund - eligibility. (1) (b) The office20
	204	+	shall administer the program or may contract with one or more vendors21
	205	+	to administer the program. The office or vendor shall:22
	206	+	(V) Audit MONITOR, or contract with a vendor to audit MONITOR,23
	207	+	service providers to ensure that service providers comply with all24
	208	+	program rules and requirements. 25
	209	+	(4) A student is eligible for a scholarship if the student:26
	210	+	(a) During the 2023-24 academic year, graduated from a Colorado27
	211	+	1365
	212	+	-6- high school or was awarded a high school equivalency credential awarded1
	213	+	by the Colorado department of education;2
	214	+	(b) IS A DEGREE-SEEKING STUDENT WHO completes the free3
	215	+	application for federal student aid or the Colorado application for state4
	216	+	financial aid; EXCEPT THAT THE OFFICE SHALL WAIVE THE REQUIREMENT5
	217	+	OF COMPLETING THE FREE APPLICATION FOR FEDERAL STUDENT AID OR THE6
	218	+	COLORADO APPLICATION FOR STATE FI NANCIAL AID IF THE7
	219	+	DEGREE-SEEKING STUDENT ATTESTS THAT THE STUDENT IS UNABLE TO8
	220	+	MEET THIS REQUIREMENT; AND9
	221	+	(c) Did not receive a grant or scholarship pursuant to part 10 of10
	222	+	article 3.3 of title 23 for the 2024-25 academic year; and11
	223	+	(5) (b) A service provider shall comply with the program policies12
	224	+	and procedures and with all reporting requirements described in this13
	225	+	section. A service provider shall submit to an audit MONITORING by the14
	226	+	office or vendor conducted pursuant to subsection (1)(b) of this section.15
	227	+	SECTION 5. In Colorado Revised Statutes, add part 6 to article16
	228	+	48.5 of title 24 as follows:17
	229	+	PART 618
	230	+	REGIONAL TALENT SUMMIT ACT19
	231	+	24-48.5-601. Short title. T
	232	+	HE SHORT TITLE OF THIS PART 6 IS THE20
	233	+	"R
	234	+	EGIONAL TALENT SUMMIT ACT".21
	235	+	24-48.5-602. Legislative declaration. (1) T
	236	+	HE GENERAL22
	237	+	ASSEMBLY FINDS AND DECLARES THAT :23
	238	+	(a) T
	239	+	HIS PART 6 IS INTENDED TO STRENGTHEN REGIONAL TALENT24
	240	+	DEVELOPMENT PIPELINES TO MEET WORKFORCE DEMAND ;25
	241	+	(b) T
	242	+	HE STATE HAS AN OPPORTUNITY TO FULFILL DEMAND FOR26
	243	+	WORKERS, WHICH WILL ALLOW THE STATE TO MEET ITS STRATEGIC GOALS27
	244	+	1365
	245	+	-7- AND GENERATE HIGH-QUALITY CAREERS; AND1
	246	+	(c) T
	247	+	HE GRANT PROGRAM AND RELATED SERVICES DESCRIBED IN2
	248	+	THIS PART 6 ARE IMPORTANT GOVERNMENT SERVICES .3
	249	+	(2) T
	250	+	HEREFORE, THE GENERAL ASSEMBLY CREATES THE REGIONAL4
	251	+	TALENT SUMMIT GRANT PROGRAM TO ADDRESS THESE NEEDS .5
	252	+	24-48.5-603. Definitions. A
	253	+	S USED IN THIS PART 6, UNLESS THE6
	254	+	CONTEXT OTHERWISE REQUIRES :7
	255	+	(1) "A
	256	+	PPLICANT" MEANS AN ENTITY THAT:8
	257	+	(a) H
	258	+	AS THE CAPACITY TO HOST REGIONAL TALENT SUMMITS9
	259	+	ACROSS THE STATE THAT CONVENE TO UNDERSTAND REGI ONAL LABOR10
	260	+	MARKET NEEDS IN EACH REGION OF THE STATE OR HAS THE CAPACITY TO11
	261	+	CONVENE, FACILITATE, AND REPORT ON REGIONAL TALENT SUMMIT12
	262	+	FINDINGS; AND13
	263	+	(b) A
	264	+	PPLIES FOR A GRANT FROM THE GRANT PROGRAM .14
	265	+	(2) "F
	266	+	UND" MEANS THE REGIONAL TALENT SUMMIT GRANT15
	267	+	PROGRAM FUND CREATED IN SECTION 24-48.5-605.16
	268	+	(3) "G
	269	+	RANT PROGRAM" MEANS THE REGIONAL TALENT SUMMIT17
	270	+	GRANT PROGRAM CREATED IN SECTION 24-48.5-604.18
	271	+	(4) "O
	272	+	FFICE" MEANS THE COLORADO OFFICE OF ECONOMIC19
	273	+	DEVELOPMENT CREATED IN SECTION 24-48.5-101.20
	274	+	(5) "P
	275	+	ROGRAM FACILITATOR" MEANS AN APPLICANT TO WHICH THE21
	276	+	OFFICE AWARDS A GRANT AND WITH WHICH THE OFFICE CONTRACTS22
	277	+	PURSUANT TO SECTION 24-48.5-604 (2)(a).23
	278	+	(6) "R
	279	+	EGIONAL HOST" MEANS AN APPLICANT THAT HAS BEEN24
	280	+	GRANTED AN AWARD TO SUPPORT THE COSTS OF HOSTING A REGIONAL25
	281	+	TALENT SUMMIT.26
	282	+	(7) "R
	283	+	EGIONAL TALENT SUMMIT" MEANS A CONVENING OF STATE27
	284	+	1365
	285	+	-8- AND REGIONAL STAKEHOLDERS TO DISCUSS THE ECONOMIC AND1
	286	+	WORKFORCE NEEDS OF THEIR REGION AND THE PROGRAMS AND RESOURCES2
	287	+	THAT MIGHT ADDRESS THOSE NEEDS .3
	288	+	(8) "S
	289	+	ELECTION COMMITTEE" MEANS THE SELECTION COMMITTEE4
	290	+	APPOINTED PURSUANT TO SECTION 24-48.5-604 (4)(a) TO REVIEW AND5
	291	+	MAKE RECOMMENDATIONS ABOUT APPLICANTS , TO SELECT AND AWARD A6
	292	+	GRANT TO THE REGIONAL HOST, AND TO SELECT AND AWARD A GRANT TO7
	293	+	THE PROGRAM FACILITATOR.8
	294	+	24-48.5-604. Regional talent summit grant program - creation9
	295	+	- administration - eligibility - application review - report.10
	296	+	(1) (a) T
	297	+	HERE IS CREATED IN THE OFFICE THE REGIONAL TALENT SUMMIT11
	298	+	GRANT PROGRAM. THE OFFICE SHALL ADMINISTER THE GRANT PROGRAM .12
	299	+	T
	300	+	HE SELECTION COMMITTEE APPOINTED PURSUANT TO SUBSECTION (4) OF13
	301	+	THIS SECTION IS RESPONSIBLE FOR MAKING GRANT AWARD DECISIONS IN14
	302	+	ACCORDANCE WITH THIS SECTION .15
	303	+	(b) (I) T
	304	+	HE PURPOSE OF THE GRANT PROGRAM IS TO PROVIDE16
	305	+	GRANTS TO THE PROGRAM FACILITATOR TO USE TO CONVENE AND17
	306	+	FACILITATE REGIONAL SUMMITS AND DEVELOP A REPORT ON THE FINDINGS18
	307	+	OF THE REGIONAL TALENT SUMMITS AND TO ONE OR MORE REGIONAL19
	308	+	HOSTS TO USE TO SUPPORT SEVEN REGIONAL TALENT SUMMITS .20
	309	+	(II) T
	310	+	HE OFFICE SHALL REQUIRE THE REGIONAL HOSTS AND THE21
	311	+	PROGRAM FACILITATOR TO COMPLETE ALL REGI ONAL TALENT SUMMITS ON22
	312	+	OR BEFORE JULY 1, 2025.23
	313	+	(III) T
	314	+	HE OFFICE SHALL REQUIRE THE PROGRAM FACILITATOR TO24
	315	+	SUBMIT ITS COMPREHENSIVE TACTICAL PLAN TO THE OFFICE ON OR BEFORE25
	316	+	D
	317	+	ECEMBER 1, 2025.26
	318	+	(c) I
	319	+	N PRIORITIZING GRANT APPLICATIONS AND AWARDING GRANTS ,27
	320	+	1365
	321	+	-9- THE OFFICE, IN COLLABORATION WITH THE SELECTION COMMITTEE , SHALL1
	322	+	STRIVE TO MEET THE FOLLOWING GRANT PROGRAM GOALS :2
	323	+	(I) F
	324	+	OR A GRANT FOR A PROGRAM FACILITATOR :3
	325	+	(A)
	326	+	TO UNDERSTAND WORKFORCE DEVELOPMENT NEEDS IN4
	327	+	REGIONS OF THE STATE;5
	328	+	(B) T
	329	+	O GENERATE A LANDSCAPE ANALYSIS FOR EACH IDENTIFIED6
	330	+	REGION THAT INCLUDES JOB PROJECTIONS AND AN OVERVIEW OF7
	331	+	EDUCATIONAL PATHWAYS ;8
	332	+	(C) T
	333	+	O GATHER INSIGHT FROM EMPLOYERS ABOUT CRITICAL9
	334	+	WORKFORCE AND TRAINING NEEDS ;10
	335	+	(D) T
	336	+	O CREATE REGIONAL GOALS FOR ADDRESSING TALENT NEEDS ;11
	337	+	(E) T
	338	+	O DEVELOP COMPREHENSIVE TACTICAL PLANS ; AND12
	339	+	(F) T
	340	+	O SUBMIT THE WORKFORCE PLANS GENERATED BY THE13
	341	+	PROGRAM FACILITATOR AS A RESULT OF THE REGIONAL TALENT SUMMITS14
	342	+	BY DECEMBER 1, 2025, TO THE OFFICE. THE OFFICE SHALL PROVIDE THE15
	343	+	WORKFORCE PLANS TO THE STATE WORKFORCE DEVELOPMENT COUNCIL16
	344	+	WHICH SHALL PUBLISH THE PLANS IN THE COLORADO TALENT REPORT17
	345	+	PREPARED PURSUANT TO SECTION 24-46.3-103 (3) AND SHALL18
	346	+	COORDINATE WITH LOCAL ENTITIES AND ACROSS STATE AGENCIES TO19
	347	+	SUPPORT REGIONAL GOALS.20
	348	+	(II) F
	349	+	OR A GRANT FOR A REGIONAL HOST:21
	350	+	(A) T
	351	+	O SECURE A FACILITY TO HOST THE REGIONAL SUMMIT ;22
	352	+	(B) T
	353	+	O DETERMINE RELEVANT PARTNERS TO ATTEND THE23
	354	+	REGIONAL SUMMIT; AND24
	355	+	(C) T
	356	+	O GATHER INSIGHT FROM REGIONAL EMPLOYERS ABOUT25
	357	+	WORKFORCE TRAINING NEEDS .26
	358	+	(2) T
	359	+	HE OFFICE, THROUGH THE SELECTION COMMITTEE , SHALL:27
	360	+	1365
	361	+	-10- (a) AWARD A GRANT TO AND EXECUTE A CONTRACT WITH A1
	362	+	PROGRAM FACILITATOR . THE OFFICE SHALL REQUIRE THE PROGRAM2
	363	+	FACILITATOR TO:3
	364	+	(I) W
	365	+	ORK WITH THE OFFICE, THE DEPARTMENT OF LABOR AND4
	366	+	EMPLOYMENT, THE DEPARTMENT OF EDUCATION , LOCAL DATA EXPERTS,5
	367	+	AND THE DEPARTMENT OF HIGHER EDUCATION TO GENERATE A L ANDSCAPE6
	368	+	ANALYSIS FOR EACH IDENTIFIED REGION THAT INCLUDES JOB PROTECTIONS7
	369	+	AND AN OVERVIEW OF EDUCATIONAL PATHWAYS ;8
	370	+	(II) W
	371	+	ORK WITH REGIONAL HOSTS TO PLAN REGIONAL TALENT9
	372	+	SUMMITS;10
	373	+	(III) F
	374	+	ACILITATE A SUMMIT FOR REGIONAL ATTENDEES TO11
	375	+	IDENTIFY REGIONAL ECONOMIC GOALS AND WORKFORCE DEVELOPMENT12
	376	+	NEEDS;13
	377	+	(IV) C
	378	+	REATE ALIGNMENT BETWEEN BUSINESS , EDUCATION,14
	379	+	WORKFORCE, AND COMMUNITY PARTNERS FOR WORKFORCE15
	380	+	DEVELOPMENT; AND16
	381	+	(V) D
	382	+	EVELOP COMPREHENSIVE TACTICAL PLANS INFORMED BY THE17
	383	+	RESOURCES AND NEEDS OF EACH REGION THAT SET TWO -YEAR GOALS AND18
	384	+	FIVE-YEAR GOALS FOR DEVELOPING MORE CAREER PATHWAYS IN19
	385	+	HIGH-NEED FIELDS IN EACH REGION INCLUDING A LANDSCAPE ANALYSIS20
	386	+	FOR EACH REGION OF THE STATE THAT IDENTIFIES REGIONAL WORKFORCE21
	387	+	NEEDS, OPPORTUNITIES, AND CHALLENGES.22
	388	+	(b) A
	389	+	WARD A GRANT TO ONE OR MORE REGIONAL HOSTS . THE23
	390	+	OFFICE SHALL REQUIRE THE REGIONAL HOSTS TO :24
	391	+	(I) S
	392	+	ECURE A FACILITY TO HOST EACH REGIONAL SUMMIT ;25
	393	+	(II) D
	394	+	ETERMINE RELEVANT BUSINESS , EDUCATION, WORKFORCE,26
	395	+	AND COMMUNITY PARTNERS TO PARTICIPATE IN EACH REGIONAL SUMMIT ;27
	396	+	1365
	397	+	-11- AND1
	398	+	(III) G
	399	+	ATHER INSIGHT FROM REGIONAL EMPLOYERS ABOUT2
	400	+	CRITICAL WORKFORCE AND TRAINING NEEDS .3
	401	+	(c) E
	402	+	STABLISH A PROCESS FOR AN APPLICANT TO APPLY FOR A4
	403	+	GRANT TO FUND THE DEVELOPMENT OF REGIONAL TALENT SUMMITS ,5
	404	+	WHICH APPLICATION PROCESS MUST BE COMPLETED NO LATER THAN6
	405	+	N
	406	+	OVEMBER 1, 2024; AND7
	407	+	(d) E
	408	+	STABLISH POLICIES SETTING FORTH THE PARAMETERS AND8
	409	+	ELIGIBILITY FOR THE GRANT PROGRAM .9
	410	+	(3) T
	411	+	O BE ELIGIBLE FOR A GRANT, AN APPLICANT MUST, AT A10
	412	+	MINIMUM, INCLUDE WITH ITS GRANT APPLICATION:11
	413	+	(a) A
	414	+	DETAILED PROPOSAL AND OPERATIONS PLAN THAT MEETS12
	415	+	THE GOALS SPECIFIED IN SUBSECTION (1)(c) OF THIS SECTION; AND13
132	416		(b) I
133		-	S A DEGREE-SEEKING STUDENT WHO completes the free
134		-	application for federal student aid or the Colorado application for state
135		-	PAGE 4-HOUSE BILL 24-1365 financial aid; EXCEPT THAT THE OFFICE SHALL WAIVE THE REQUIREMENT OF
136		-	COMPLETING THE FREE APPLICATION FOR FEDERAL STUDENT AID OR THE
137		-	COLORADO APPLICATION FOR STATE FINANCIAL AID IF THE DEGREE -SEEKING
138		-	STUDENT ATTESTS THAT THE ST UDENT IS UNABLE TO MEET THIS
139		-	REQUIREMENT
140		-	; AND
141		-	(c) Did not receive a grant or scholarship pursuant to part 10 of
142		-	article 3.3 of title 23 for the 2024-25 academic year; and
143		-	(5) (b) A service provider shall comply with the program policies
144		-	and procedures and with all reporting requirements described in this section.
145		-	A service provider shall submit to an audit
146		-	MONITORING by the office or
147		-	vendor conducted pursuant to subsection (1)(b) of this section.
148		-	SECTION 5. In Colorado Revised Statutes, add part 7 to article
149		-	48.5 of title 24 as follows:
150		-	PART 7
151		-	REGIONAL TALENT SUMMIT ACT
152		-	24-48.5-701. Short title. T
153		-	HE SHORT TITLE OF THIS PART 7 IS THE
154		-	"REGIONAL TALENT SUMMIT ACT".
155		-	24-48.5-702. Legislative declaration. (1) T
156		-	HE GENERAL ASSEMBLY
157		-	FINDS AND DECLARES THAT
158		-	:
	417	+	NFORMATION ABOUT HOW THE PROPOSED REGIONAL TALENT14
	418	+	SUMMIT WILL ADDRESS THE ECONOMIC DEVELOPMENT GOALS OF EACH15
	419	+	REGION.16
	420	+	(4) (a) T
	421	+	HE OFFICE SHALL APPOINT A SELECTION COMMITTEE17
	422	+	CONSISTING OF MEMBERS WHO REPRESENT THE OFFICE , THE COLORADO18
	423	+	WORKFORCE DEVELOPMENT COUNCIL , LOCAL WORKFORCE DEVELOPMENT19
	424	+	PRACTITIONERS, LOCAL EDUCATION PROVIDERS, INSTITUTIONS OF HIGHER20
	425	+	EDUCATION, EDUCATION-RELATED COMMUNITY-BASED ORGANIZATIONS,21
	426	+	AND THE STATEWIDE CHAMBER OF COMMERCE .22
	427	+	(b) T
	428	+	HE SELECTION COMMITTEE SHALL REVIEW GRANT23
	429	+	APPLICATIONS IN ACCORDANCE WITH THE PROCESSES AND CRITERIA24
	430	+	SPECIFIED IN AND DEVELOPED PURSUANT TO THIS SECTION AND SHALL25
	431	+	MAKE FINAL DETERMINATIONS AND AWARD GRANTS BASED ON THESE26
	432	+	PROCESSES AND CRITERIA.27
	433	+	1365
	434	+	-12- (c) (I) THE SELECTION COMMITTEE SHALL CONSIDER REGIONAL1
	435	+	DIVERSITY, COMMUNITY ENGAGEMENT , LOCAL PARTNERSHIPS, AND EVENT2
	436	+	CAPACITY WHEN SELECTING ONE OR MORE REGIONAL HOSTS .3
	437	+	(II) M
	438	+	EMBERS OF THE SELECTION COMMITTEE SERVE WITHOUT4
	439	+	COMPENSATION BUT ARE ENTITLED TO REIMBURSEMENT FOR ACTUAL AND5
	440	+	NECESSARY EXPENSES INCURRED IN THE DISCHARGE OF THE MEMBERS '6
	441	+	DUTIES.7
	442	+	24-48.5-605. Regional talent summit grant program fund.8
	443	+	(1) (a) T
	444	+	HERE IS CREATED IN THE STATE TREASURY THE REGIONAL TALENT9
	445	+	SUMMIT GRANT PROGRAM FUND .10
	446	+	(b) O
	447	+	N JULY 1, 2024, THE STATE TREASURER SHALL TRANSFER TWO11
	448	+	HUNDRED THOUSAND DOLLARS FROM THE GENERAL FUND TO THE FUND12
	449	+	FOR GRANTS TO A PROGRAM FACILITATOR AND ONE OR MORE REGIONAL13
	450	+	HOSTS.14
	451	+	(c) T
	452	+	HE MONEY IN THE FUND IS CONTINUOUSLY APPROPRIATED TO15
	453	+	THE OFFICE FOR USE IN ACCORDANCE WITH THIS PART 6.16
	454	+	(2) T
	455	+	HE OFFICE MAY SEEK, ACCEPT, AND EXPEND GIFTS, GRANTS,17
	456	+	OR DONATIONS FROM PRIVATE OR PUBLIC SOURCES FOR THE PURPOSES OF18
	457	+	THIS PART 6.19
	458	+	24-48.5-606. Repeal of part. T
	459	+	HIS PART 6 IS REPEALED, EFFECTIVE20
	460	+	J
	461	+	ULY 1,
	462	+	2030.21
	463	+	SECTION 6. In Colorado Revised Statutes, 8-83-208, add (1)(d)22
	464	+	as follows:23
	465	+	8-83-208. Implementation - local plans. (1) (d) B
	466	+	EGINNING24
	467	+	J
	468	+	ANUARY 1, 2026, ANY MODIFIED OR NEW LOCAL PLAN MUST25
	469	+	INCORPORATE THE TACTICAL PLANS CREATED PURSUANT TO SECTION26
	470	+	24-48.5-604 (2)(a)(V).27
	471	+	1365
	472	+	-13- SECTION 7. In Colorado Revised Statutes, add 39-22-560 as1
	473	+	follows:2
	474	+	39-22-560. Workforce shortage tax credit - tax preference3
	475	+	performance statement - report - definitions - repeal. (1) Tax4
	476	+	preference performance statement. I
	477	+	N ACCORDANCE WITH SECTION5
	478	+	39-21-304
	479	+	(1), WHICH REQUIRES EACH BILL THAT CREATES A NEW TAX6
	480	+	EXPENDITURE TO INCLUDE A TAX PREFERENCE PERFORMANCE STATEMENT7
	481	+	AS PART OF A STATUTORY LEGISLATIVE DECLARATION , THE GENERAL8
	482	+	ASSEMBLY FINDS AND DECLARES THAT :9
159	483		(a) T
160		-	HIS PART 7 IS INTENDED TO STRENGTHEN REGIONAL TALENT
161		-	DEVELOPMENT PIPELINES TO MEET WORKFORCE DEMAND
162		-	;
	484	+	HE GENERAL LEGISLATIVE PURPOSES OF THE TAX CREDIT10
	485	+	ALLOWED BY THIS SECTION ARE:11
	486	+	(I) T
	487	+	O INDUCE CERTAIN DESIGNATED BEHAVIOR BY TAXPAYERS ;12
	488	+	AND13
	489	+	(II) T
	490	+	O PROVIDE TAX RELIEF FOR CERTAIN BUSINESSES OR14
	491	+	INDIVIDUALS.15
163	492		(b) T
164		-	HE STATE HAS AN OPPORTUNITY TO FULFILL DEMAND FOR
165		-	WORKERS
166		-	, WHICH WILL ALLOW THE STATE TO MEET ITS STRATEGIC GOALS
167		-	AND GENERATE HIGH
168		-	-QUALITY CAREERS; AND
169		-	(c) THE GRANT PROGRAM AND RELATED SERVICES DESCRIBED IN THIS
170		-	PART
171		-	7 ARE IMPORTANT GOVERNMENT SERVICES .
172		-	(2) T
173		-	HEREFORE, THE GENERAL ASSEMBLY CREATES THE REGIONAL
174		-	TALENT SUMMIT GRANT PROGRAM TO ADDRESS THESE NEEDS
175		-	.
176		-	24-48.5-703. Definitions. A
177		-	S USED IN THIS PART 7, UNLESS THE
178		-	PAGE 5-HOUSE BILL 24-1365 CONTEXT OTHERWISE REQUIRES :
179		-	(1) "A
180		-	PPLICANT" MEANS AN ENTITY THAT:
181		-	(a) H
182		-	AS THE CAPACITY TO HOST REGIONAL TALENT SUMMITS ACROSS
183		-	THE STATE THAT CONVENE TO UNDERSTAND REGIONAL LABOR MARKET
184		-	NEEDS IN EACH REGION OF THE STATE OR HAS THE CAPACITY TO CONVENE
185		-	,
186		-	FACILITATE, AND REPORT ON REGIONAL TALENT SUMMIT FINDINGS ; AND
187		-	(b) APPLIES FOR A GRANT FROM THE GRANT PROGRAM .
188		-	(2) "F
189		-	UND" MEANS THE REGIONAL TALENT SUMMIT GRANT PROGRAM
190		-	FUND CREATED IN SECTION
191		-	24-48.5-705.
192		-	(3) "G
193		-	RANT PROGRAM" MEANS THE REGIONAL TALENT SUMMIT
194		-	GRANT PROGRAM CREATED IN SECTION
195		-	24-48.5-704.
196		-	(4) "O
197		-	FFICE" MEANS THE COLORADO OFFICE OF ECONOMIC
198		-	DEVELOPMENT CREATED IN SECTION
199		-	24-48.5-101.
200		-	(5) "P
201		-	ROGRAM FACILITATOR" MEANS AN APPLICANT TO WHICH THE
202		-	OFFICE AWARDS A GRANT AND WITH WHICH THE OFFICE CONTRACTS
203		-	PURSUANT TO SECTION
204		-	24-48.5-704 (2)(a).
205		-	(6) "R
206		-	EGIONAL HOST" MEANS AN APPLICANT THAT HAS BEEN
207		-	GRANTED AN AWARD TO SUPPORT THE COSTS OF HOSTING A REGIONAL
208		-	TALENT SUMMIT
209		-	.
210		-	(7) "R
211		-	EGIONAL TALENT SUMMIT" MEANS A CONVENING OF STATE
212		-	AND REGIONAL STAKEHOLDERS TO DISCUSS THE EC ONOMIC AND WORKFORCE
213		-	NEEDS OF THEIR REGION AND THE PROGRAMS AND RESOURCES THAT MIGHT
214		-	ADDRESS THOSE NEEDS
215		-	.
216		-	(8) "S
217		-	ELECTION COMMITTEE" MEANS THE SELECTION COMMITTEE
218		-	APPOINTED PURSUANT TO SECTION
219		-	24-48.5-704 (4)(a) TO REVIEW AND MAKE
220		-	RECOMMENDATIONS ABOUT APPLICANTS
221		-	, TO SELECT AND AWARD A GRANT
222		-	TO THE REGIONAL HOST
223		-	, AND TO SELECT AND AWARD A GRANT TO THE
224		-	PROGRAM FACILITATOR
225		-	.
226		-	24-48.5-704. Regional talent summit grant program - creation
227		-	PAGE 6-HOUSE BILL 24-1365 - administration - eligibility - application review - report. (1) (a) T HERE
228		-	IS CREATED IN THE OFFICE THE REGIONAL TALENT SUMMIT GRANT PROGRAM
229		-	.
230		-	T
231		-	HE OFFICE SHALL ADMINISTER THE GRANT PROGRAM . THE SELECTION
232		-	COMMITTEE APPOINTED PURSUANT TO SUBSECTION
233		-	(4) OF THIS SECTION IS
234		-	RESPONSIBLE FOR MAKING GRANT AWARD DECISIONS IN ACCORDANCE WITH
235		-	THIS SECTION
236		-	.
237		-	(b) (I) T
238		-	HE PURPOSE OF THE GRANT PROGRAM IS TO PROVIDE GRANTS
239		-	TO THE PROGRAM FACILITATOR TO USE TO CONVENE AND FACILITATE
240		-	REGIONAL SUMMITS AND DEVELOP A REPORT ON THE FINDINGS OF THE
241		-	REGIONAL TALENT SUMMITS AND TO ONE OR MORE REGIONAL HOSTS TO USE
242		-	TO SUPPORT SEVEN REGIONAL TALENT SUMMITS
243		-	.
	493	+	HE SPECIFIC LEGISLATIVE PURPOSE OF THE TAX CREDIT16
	494	+	ALLOWED BY THIS SECTION IS TO ENCOURAGE WORKFORCE DEVELOPMENT17
	495	+	IN INDUSTRIES THAT ARE FACING WORKER SHORTAGES BY PROVIDING18
	496	+	FINANCIAL ASSISTANCE FOR FACILITY IMPROVEMENT AND EQUIPMENT19
	497	+	ACQUISITION COSTS ASSOCIATED WITH TRAINING PROGRAMS DESIGNED TO20
	498	+	ALLEVIATE WORKER SHORTAGES .21
	499	+	(c) T
	500	+	HE GENERAL ASSEMBLY AND THE STATE AUDITOR SHALL22
	501	+	MEASURE THE EFFECTIVENESS OF THE TAX CREDIT IN ACHIEVING THE23
	502	+	PURPOSES SPECIFIED IN SUBSECTIONS (1)(a) AND (1)(b) OF THIS SECTION24
	503	+	BASED ON THE INFORMATION REQUIRED TO BE MAINTAINED AND REPORTED25
	504	+	BY THE OFFICE PURSUANT TO SUBSECTION (12) OF THIS SECTION.26
	505	+	(2) Definitions. A
	506	+	S USED IN THIS SECTION, UNLESS THE CONTEXT27
	507	+	1365
	508	+	-14- OTHERWISE REQUIRES:1
	509	+	(a) "A
	510	+	PPLICANT" MEANS A PERSON SUBJECT TO TAX PURSUANT TO2
	511	+	THIS ARTICLE 22, AN ENTITY THAT IS EXEMPT FROM TAXATION PURSUANT3
	512	+	TO SECTION 39-22-112 (1), OR A POLITICAL SUBDIVISION OF THE STATE.4
	513	+	(b) "A
	514	+	PPLICATION" MEANS AN APPLICATION IN THE FORM AND5
	515	+	MANNER APPROVED BY THE OFFICE FOR THE TAX CREDIT ALLOWED IN THIS6
	516	+	SECTION.7
	517	+	(c) "D
	518	+	EPARTMENT" MEANS THE DEPARTMENT OF REVENUE .8
	519	+	(d) "F
	520	+	EDERAL INVESTMENTS " MEANS THE FEDERAL9
	521	+	"I
	522	+	NFRASTRUCTURE INVESTMENT AND JOBS ACT", PUB.L. 117-58, THE10
	523	+	FEDERAL "INFLATION REDUCTION ACT OF 2022", PUB.L. 117-169, AND11
	524	+	THE FEDERAL "CHIPS AND SCIENCE ACT OF 2022", PUB.L. 117-167.12
	525	+	(e) "O
	526	+	FFICE" MEANS THE COLORADO OFFICE OF EC ONOMIC13
	527	+	DEVELOPMENT CREATED IN SECTION 24-48.5-101.14
	528	+	(f) "P
	529	+	OTENTIAL QUALIFIED ASSET" MEANS AN ASSET THAT MAY BE15
	530	+	A QUALIFIED ASSET UPON THE DETERMINATION OF THE OFFICE .16
	531	+	(g) "Q
	532	+	UALIFIED APPLICANT" MEANS AN APPLICANT THAT MAKES17
	533	+	A QUALIFIED INVESTMENT TO TRAIN INDIVIDUALS IN A QUALIFIED18
	534	+	INDUSTRY AND THAT IS SELECTED PURSUANT TO SUBSECTION (5) OF THIS19
	535	+	SECTION.20
	536	+	(h) (I) "Q
	537	+	UALIFIED ASSET" MEANS:21
	538	+	(A) L
	539	+	AND IN THIS STATE;22
	540	+	(B) B
	541	+	UILDINGS, FIXTURES, AND OTHER STRUCTURAL COMPONENTS23
	542	+	OF BUILDINGS IN THIS STATE FOR WHICH THE APPLICANT IS ALLOWED A24
	543	+	DEDUCTION FOR DEPRECIATION PURSUANT TO SECTION 167 OF THE25
	544	+	INTERNAL REVENUE CODE, INCLUDING PURCHASING OR CONSTRUCTING A26
	545	+	FACILITY, RENOVATING A FACILITY, MAKING TENANT IMPROVEMENTS , AND27
	546	+	1365
	547	+	-15- FUNDING A CAPITAL LEASE WITH CAPITALIZED LABOR , CONSTRUCTION,1
	548	+	AND INSTALLATION COSTS;2
	549	+	(C) T
	550	+	ANGIBLE PERSONAL PROPERTY ACQUIRED FOR USE3
	551	+	EXCLUSIVELY IN THIS STATE FOR WHICH THE APPLICANT IS ALLOWED A4
	552	+	DEDUCTION FOR DEPRECIATION PURSUANT TO SECTION 167 OF THE5
	553	+	INTERNAL REVENUE CODE; AND6
	554	+	(D) C
	555	+	OMPUTER SOFTWARE ACQUIRED FOR USE EXCLUSIVELY IN7
	556	+	THIS STATE FOR WHICH THE APPLICANT IS ALLOWED A DEDUCTION FOR8
	557	+	DEPRECIATION UNDER SECTION 167 OF THE INTERNAL REVENUE CODE.9
	558	+	(II) F
	559	+	OR PURPOSES OF THIS SUBSECTION (2)(h), IF AN APPLICANT IS10
	560	+	NOT SUBJECT TO FEDERAL INCOME TAX , THE APPLICANT IS DEEMED TO BE11
	561	+	ALLOWED A DEDUCTION FOR DEPRECIATION IF SUCH A DEDUCTION WOULD12
	562	+	HAVE BEEN ALLOWED WERE THE APPLICANT SUBJECT TO FEDERAL INCOME13
	563	+	TAX.14
	564	+	(i) "Q
	565	+	UALIFIED INDUSTRY" MEANS AN INDUSTRY AFFECTED BY15
	566	+	FEDERAL INVESTMENTS THAT HAS A DEMONSTRATED WORKFORCE16
	567	+	SHORTAGE, AS DETERMINED BY THE OFFICE AS SPECIFIED IN THE POLICIES17
	568	+	AND PROCEDURES DEVELOPED BY THE OFFICE PURSUANT TO SUBSECTION18
	569	+	(13)
	570	+	OF THIS SECTION.19
	571	+	(j) "Q
	572	+	UALIFIED INVESTMENT" MEANS THE AMOUNT PAID BY A20
	573	+	QUALIFIED APPLICANT TO ACQUIRE, CONSTRUCT, RECONSTRUCT, OR ERECT21
	574	+	A QUALIFIED ASSET TO THE EXTENT THE AMOUNT PAID REFLECTS NEW22
	575	+	ACTIVITY AND TO THE EXTENT THE AMOUNT IS REQUIRED TO BE23
	576	+	CAPITALIZED PURSUANT TO THE INTERNAL REVENUE CODE OR THE24
	577	+	AMOUNT IS ALLOWED TO BE DEDUCTED UNDER SECTION 179 OF THE25
	578	+	INTERNAL REVENUE CODE.26
	579	+	(k) "S
	580	+	ELECTION COMMITTEE" MEANS A SELECTION COMMITTEE27
	581	+	1365
	582	+	-16- APPOINTED BY THE OFFICE CONSISTING OF MEMBERS WHO HAVE EXPERTISE1
	583	+	AND EXPERIENCE AS EMPLOYERS , IN EDUCATION, OR IN OTHER RELEVANT2
	584	+	AREAS.3
	585	+	(3) Tax credit allowed. (a) EXCEPT AS PROVIDED IN SUBSECTION4
	586	+	(3)(c) OF THIS SECTION, A QUALIFIED APPLICANT IS ALLOWED TO USE A TAX5
	587	+	CREDIT CERTIFICATE ISSUED BY THE OFFICE PURSUANT TO SUBSECTION (8)6
	588	+	OF THIS SECTION AGAINST THE INCOME TAXES IMPOSED BY THIS ARTICLE7
	589	+	22
	590	+	IN THE INCOME TAX YEAR THAT THE QUALIFIED APPLICANT PLACES A8
	591	+	QUALIFIED ASSET IN SERVICE IN THE AMOUNT SPECIFIED ON THE TAX9
	592	+	CREDIT CERTIFICATE ISSUED BY THE OFFICE; EXCEPT THAT THE TAX CREDIT10
	593	+	CERTIFICATE MAY NOT BE USED IN AN INCOME TAX YEAR COMMENCING11
	594	+	BEFORE JANUARY 1, 2026, AND MAY NOT BE USED IN AN INCOME TAX YEAR12
	595	+	COMMENCING ON OR AFTER JANUARY 1, 2033.13
	596	+	(b) I
	597	+	N ORDER TO CLAIM THE TAX CREDIT ALLOWED PURSUANT TO14
	598	+	THIS SECTION, THE QUALIFIED APPLICANT MUST SUBMIT AN APPLICATION15
	599	+	AS SPECIFIED IN SUBSECTION (5) OF THIS SECTION, PLACE THE QUALIFIED16
	600	+	ASSET INTO SERVICE BEFORE JANUARY 1, 2033, OBTAIN A TAX CREDIT17
	601	+	CERTIFICATE FROM THE OFFICE AS SPECIFIED IN SUBSECTION (8) OF THIS18
	602	+	SECTION, AND, ONCE ISSUED BY THE OFFICE , FILE THE TAX CREDIT19
	603	+	CERTIFICATE WITH THE QUALIFIED APPLICANT 'S INCOME TAX RETURN AS20
	604	+	SPECIFIED IN SUBSECTION (9) OF THIS SECTION.21
	605	+	(c) A
	606	+	TAX CREDIT
	607	+	IS NOT ALLOWED PURSUANT TO THIS SECTION 22
	608	+	IF:23
	609	+	(I)
	610	+	THE AMOUNT REFUNDED PURSUANT TO SUBSECTION (10) OF24
	611	+	THIS SECTION IS USED TO SUPPLANT LOCAL, STATE, OR FEDERAL MONEY25
	612	+	THAT WOULD OTHERWISE BE APPROPRIATED ; OR26
244	613		(II) T
245		-	HE OFFICE SHALL REQUIRE THE REGIONAL HOSTS AND THE
246		-	PROGRAM FACILITATOR TO COMPLETE ALL REGIONAL TALENT SUMMITS ON
247		-	OR BEFORE
248		-	JULY 1, 2025.
	614	+	HE QUALIFIED APPLICANT EXPENDS MONEY RECEIVED FROM27
	615	+	1365
	616	+	-17- THE STATE TO OFFSET AT LEAST HALF OF A QUALIFIED INVESTMENT , NOT1
	617	+	INCLUDING THE AMOUNT REFUNDED PURSUANT TO SUBSECTION (10) OF2
	618	+	THIS SECTION.3
	619	+	(4) Tax credit administration. E
	620	+	XCEPT AS OTHERWISE PROVIDED4
	621	+	IN SUBSECTION (7) OF THIS SECTION, THE OFFICE IS THE ADMINISTRATOR5
	622	+	OF THE TAX CREDIT ALLOWED BY THIS SECTION .6
	623	+	(5) Application submission and review. (a) A
	624	+	N APPLICANT THAT7
	625	+	INTENDS TO CLAIM A TAX CREDIT PURSUANT TO THIS SECTION SHALL8
	626	+	SUBMIT AN APPLICATION TO THE OFFICE.9
	627	+	(b) T
	628	+	HE OFFICE SHALL ACCEPT APPLICATIONS FOR ANNUAL10
	629	+	APPLICATION PERIODS BY DEADLINES ESTABLISHED IN THE POLICIES AND11
	630	+	PROCEDURES DEVELOPED BY THE OFFICE PURSUANT TO SUBSECTION (13)12
	631	+	OF THIS SECTION; EXCEPT THAT THE OFFICE MAY ONLY RECEIVE13
	632	+	APPLICATIONS BETWEEN JANUARY 1, 2025, AND DECEMBER 31, 2029.14
	633	+	(c) T
	634	+	HE OFFICE SHALL REVIEW ALL SUBMITTED APPLICATIONS TO15
	635	+	DETERMINE WHETHER:16
	636	+	(I) T
	637	+	HE APPLICANT IS A QUALIFIED APPLICANT; AND17
	638	+	(II) T
	639	+	HE APPLICATION IS COMPLETE AND INCLUDES A DESCRIPTION18
	640	+	OF A POTENTIAL QUALIFIED ASSET AND THE ESTIMATED QUALIFIED19
	641	+	INVESTMENT.20
	642	+	(d) I
	643	+	F THE OFFICE DETERMINES THAT THE APPLICATION IS21
	644	+	COMPLETE AND IN COMPLIANCE, THE OFFICE SHALL ADD THE APPLICATION22
	645	+	TO AN EVALUATION POOL FOR THE APPLICATION PERIOD . WITHIN A23
	646	+	REASONABLE PERIOD AFTER THE END OF THE APPLICATION PERIOD , THE24
	647	+	OFFICE SHALL FORWARD THE EVALUATION POOL TO THE SELECTION25
	648	+	COMMITTEE FOR THE MERIT-BASED REVIEW DESCRIBED IN SUBSECTION (7)26
	649	+	OF THIS SECTION.27
	650	+	1365
	651	+	-18- (e) IF THE OFFICE DETERMINES THAT THE APPLICATION IS1
	652	+	INCOMPLETE OR THAT IT DOES NOT COMPLY WITH THE REQUIREMENTS OF2
	653	+	THIS SECTION OR THE POLICIES AND PROCEDURES DEVELOPED BY THE3
	654	+	OFFICE PURSUANT TO SUBSECTION (13) OF THIS SECTION, THE OFFICE4
	655	+	SHALL REMOVE THE APPLICATION FROM THE REVIEW PROCESS AND NOTIFY5
	656	+	THE APPLICANT IN WRITING OF ITS DECISION . AN APPLICANT MAY6
	657	+	RESUBMIT A DISAPPROVED APPLICATION TO BE EVALUATED IN A FUTURE7
	658	+	APPLICATION PERIOD.8
	659	+	(6) Application and issuance fees. (a) (I) F
	660	+	OR AN APPLICATION9
	661	+	FOR WHICH THE AMOUNT OF THE TAX CREDIT REQUESTED BY AN10
	662	+	APPLICANT PURSUANT TO THIS SECTION IS TWO HUNDRED FIFTY THOUSAND11
	663	+	DOLLARS OR MORE, THE OFFICE MAY IMPOSE A REASONABLE APPLICATION12
	664	+	FEE ON AN APPLICANT THAT DOES NOT EXCEED FIVE HUNDRED DOLLARS .13
	665	+	(II)
	666	+	FOR AN APPLICATION FOR WHICH THE AMOUNT OF THE TAX14
	667	+	CREDIT REQUESTED BY AN APPLICANT PURSUANT TO THIS SECTION IS LESS15
	668	+	THAN TWO HUNDRED FIFTY THOUSAND DOLLARS , THE OFFICE MAY IMPOSE16
	669	+	A REASONABLE APPLICATION FEE ON AN APPLICANT THAT DOES NOT17
	670	+	EXCEED TWO HUNDRED DOLLARS .18
	671	+	(b) T
	672	+	HE OFFICE MAY IMPOSE ON A QUALIFIED APPLICANT A19
	673	+	REASONABLE ISSUANCE FEE OF UP TO THREE PERCENT OF THE AMOUNT OF20
	674	+	THE TAX CREDIT SPECIFIED ON THE TAX CREDIT CERTIFICATE ISSUED BY21
	675	+	THE OFFICE AS SPECIFIED IN SUBSECTION (8) OF THIS SECTION, WHICH MUST22
	676	+	BE PAID BEFORE THE TAX CREDIT CERTIFICATE IS ISSUED TO THE QUALIFIED23
	677	+	APPLICANT.24
	678	+	(c) A
	679	+	NY FEE REVENUE COLLECTED PURSUANT TO THIS SUBSECTION25
	680	+	(6)
	681	+	MUST BE APPLIED TO THE ADMINISTRATION OF THE TAX CREDIT26
	682	+	CREATED BY THIS SECTION.27
	683	+	1365
	684	+	-19- (7) Merit-based review and tax credit reservation. (a) (I) F OR1
	685	+	EACH APPLICATION PERIOD, THE SELECTION COMMITTEE SHALL CONDUCT2
	686	+	A MERIT-BASED REVIEW OF THE APPLICATIONS THAT HAVE BEEN PLACED3
	687	+	IN THE EVALUATION POOL PURSUANT TO SUBSECTION (5)(d) OF THIS4
	688	+	SECTION. THE SELECTION COMMITTEE SHALL COMPLETE ITS REVIEW AND5
	689	+	AWARD RESERVATIONS WITHIN A REASONABLE PERIOD AFTER THE END OF6
	690	+	THE APPLICATION PERIOD, NOT TO EXCEED NINETY DAYS.7
	691	+	(II) E
	692	+	XCEPT AS PROVIDED IN SUBSECTION (7)(a)(IV) OF THIS8
	693	+	SECTION, BASED UPON THE TOTALITY OF THE FACTORS SET FORTH IN9
	694	+	SUBSECTION (7)(c) OF THIS SECTION, THE SELECTION COMMITTEE MAY10
	695	+	RESERVE FOR THE BENEFIT OF A QUALIFIED APPLICANT A TAX CREDIT IN AN11
	696	+	AMOUNT TO BE DETERMINED BY THE SELECTION COMMITTEE NOT TO12
	697	+	EXCEED FIFTY PERCENT OF THE ESTIMATED QUALIFIED INVESTMENT ;13
	698	+	EXCEPT THAT THE AGGREGATE AMOUNT OF TAX CREDITS RESERVED FOR14
	699	+	ALL QUALIFIED APPLICANTS IN AN ANNUAL APPLICATION PERIOD MAY NOT15
	700	+	EXCEED FIFTEEN MILLION DOLLARS.16
249	701		(III) T
250		-	HE OFFICE SHALL REQUIRE THE PROGRAM FACILITATOR TO
251		-	SUBMIT ITS COMPREHENSIVE TACTICAL PLAN TO THE OFFICE ON OR BEFORE
252		-	DECEMBER 1, 2025.
253		-	(c) I
254		-	N PRIORITIZING GRANT APPLICATIONS AND AWARDING GRANTS ,
255		-	THE OFFICE, IN COLLABORATION WITH THE SELECTION COMMITTEE , SHALL
256		-	STRIVE TO MEET THE FOLLOWING GRANT PROGRAM GOALS
257		-	:
258		-	(I) F
259		-	OR A GRANT FOR A PROGRAM FACILITATOR :
	702	+	HE SELECTION COMMITTEE MAY RESERVE TAX CREDITS TO17
	703	+	BE USED BY A QUALIFIED APPLICANT FOR INCOME TAX YEARS18
	704	+	COMMENCING ON OR AFTER JANUARY 1, 2026, BUT BEFORE JANUARY 1,19
	705	+	2033,
	706	+	BASED UPON THE ANTICIPATED DATE THE QUALIFIED ASSET IS20
	707	+	PLACED INTO SERVICE.21
	708	+	(IV) I
	709	+	F THE
	710	+	SEPTEMBER 2025 REVENUE FORECAST, AND EACH22
	711	+	SEPTEMBER REVENUE FORECAST THROUGH THE SEPTEMBER 202823
	712	+	REVENUE FORECAST AS PREPARED BY EITHER LEGISLATIVE COUNCIL STAFF24
	713	+	OR THE OFFICE OF STATE PLANNING AND BUDGETING , PROJECTS THAT25
	714	+	STATE REVENUES, AS DEFINED IN SECTION 24-77-201 (4), WILL NOT26
	715	+	INCREASE BY AT LEAST FOUR PERCENT FOR THE CURRENT FISCAL YEAR,27
	716	+	1365
	717	+	-20- THE AGGREGATE AMOUNT OF TAX CREDITS RESERVED FOR ALL QUALIFIED1
	718	+	APPLICANTS IN THE APPLICATION PERIOD COMMENCING IN THE CALENDAR2
	719	+	YEAR THAT BEGINS DURING THE CURRENT FISCAL YEAR IS REDUCED BY3
	720	+	FIFTY PERCENT; EXCEPT THAT IF THE AMOUNT OF A REDUCED TAX CREDIT4
	721	+	RESERVATION IS EQUAL TO OR LESS THAN FIVE HUNDRED DOLLARS , THEN5
	722	+	THE SELECTION COMMITTEE SHALL NOT ISSUE A TAX CREDIT RESERVATION .6
	723	+	(b) (I) I
	724	+	F THE SELECTION COMMITTEE RESERVES TAX CREDITS FOR7
	725	+	THE BENEFIT OF A QUALIFIED APPLICANT UNDER SUBSECTION (7)(a) OF8
	726	+	THIS SECTION, THE SELECTION COMMITTEE SHALL NOTIFY THE OFFICE OF9
	727	+	THE RESERVATION AND THE AMOUNT OF TAX CREDITS RESERVED . THE10
	728	+	OFFICE SHALL NOTIFY THE QUALIFIED APPLICANT OF THE TAX CREDIT11
	729	+	RESERVATION. THE RESERVATION OF A TAX CREDIT DOES NOT ENTITLE THE12
	730	+	QUALIFIED APPLICANT TO AN ISSUANCE OF A TAX CREDIT CERTIFICATE13
	731	+	UNTIL THE QUALIFIED APPLICANT COMPLIES WITH ALL THE REQUIREMENTS14
	732	+	SPECIFIED IN THIS SECTION, BY THE SELECTION COMMITTEE , OR BY THE15
	733	+	OFFICE, FOR THE ISSUANCE OF A TAX CREDIT CERTIFICATE PURSUANT TO16
	734	+	SUBSECTION (8) OF THIS SECTION.17
	735	+	(II) T
	736	+	HE OFFICE SHALL NOTIFY ANY QUALIFIED APPLICANT IN18
	737	+	WRITING FOR WHICH THE SELECTION COMMITTEE RESERVED NO TAX19
	738	+	CREDIT UNDER SUBSECTION (7)(a) OF THIS SECTION.20
	739	+	(c) (I) I
	740	+	N CONDUCTING THE MERIT-BASED REVIEW PURSUANT TO21
	741	+	SUBSECTION (7)(a) OF THIS SECTION, THE SELECTION COMMITTEE SHALL22
	742	+	CONSIDER THE FACTORS SET FORTH IN THIS SUBSECTION (7)(c) IN23
	743	+	ADDITION TO ANY OTHER FACTORS THE SELECTION COMMITTEE MAY24
	744	+	REQUEST THE OFFICE TO INCLUDE IN ITS POLICIES AND PROCEDURES25
	745	+	DEVELOPED PURSUANT TO SUBSECTION (13) OF THIS SECTION. THE26
	746	+	SELECTION COMMITTEE MAY WEIGH THE FACTORS EQUALLY OR27
	747	+	1365
	748	+	-21- DIFFERENTLY.1
	749	+	(II) T
	750	+	HE SELECTION COMMITTEE SHALL CONSIDER :2
	751	+	(A) W
	752	+	HETHER THE QUALIFIED APPLICANT 'S QUALIFIED3
	753	+	INVESTMENT WILL INFLUENCE COMPETITIVENESS IN A QUALIFIED4
	754	+	INDUSTRY;5
	755	+	(B) W
	756	+	HETHER THE QUALIFIED APPLICANT 'S QUALIFIED6
	757	+	INVESTMENT WILL RESULT IN INCREASED JOB PLACEMENTS IN QUALIFIED7
	758	+	INDUSTRIES OR INCREASED JOB PLACEMENTS WITH A LIVING WAGE IN8
	759	+	QUALIFIED INDUSTRIES;9
	760	+	(C) T
	761	+	HE TYPE, SCOPE, AND QUALITY OF THE QUALIFIED10
	762	+	APPLICANT'S QUALIFIED ASSET AND THE RESULTING TRAINING OF11
	763	+	INDIVIDUALS IN A QUALIFIED INDUSTRY; AND12
	764	+	(D) W
	765	+	HETHER THE QUALIFIED APPLICANT 'S QUALIFIED13
	766	+	INVESTMENT WILL RESULT IN INCREASED TRAINING AND WORKFORCE14
	767	+	DEVELOPMENT IN A QUALIFIED INDUSTRY .15
	768	+	(d) T
	769	+	HE SELECTION COMMITTEE MAY IMPOSE ADDITIONAL16
	770	+	REQUIREMENTS ON THE QUALIFIED APPLICANT AS A CONDITION OF17
	771	+	AWARDING THE TAX CREDIT RESERVATION PURSUANT TO THIS SUBSECTION18
	772	+	(7).19
	773	+	(8) Proof of compliance - audit of eligible expenditure20
	774	+	certification - issuance of tax credit certificate. A
	775	+	FTER A QUALIFIED21
	776	+	APPLICANT PLACES A POTENTIAL QUALIFIED ASSET IN SERVICE , THE22
	777	+	QUALIFIED APPLICANT SHALL NOTIFY THE OFFICE THAT THE POTENTIAL23
	778	+	QUALIFIED ASSET HAS BEEN PLACED IN SERVICE AND SHALL CERTIFY THE24
	779	+	QUALIFIED INVESTMENT, AFTER WHICH THE OFFICE SHALL MAKE A FINAL25
	780	+	DETERMINATION WHETHER THE POTENTIAL QUALIFIED ASSET IS A26
	781	+	QUALIFIED ASSET. THE QUALIFIED APPLICANT SHALL INCLUDE A REVIEW27
	782	+	1365
	783	+	-22- OF THE CERTIFICATION BY A LICENSED CERTIFIED PUBLIC ACCOUNTANT1
	784	+	THAT IS NOT AFFILIATED WITH THE QUALIFIED APPLICANT AND THAT2
	785	+	ALIGNS WITH OFFICE POLICIES FOR CERTIFICATION OF A QUALIFIED3
	786	+	INVESTMENT. THE QUALIFIED APPLICANT SHALL ALSO CERTIFY AND4
	787	+	PROVIDE DOCUMENTS DEMONSTRATING THAT THE QUALIFIED APPLICANT5
	788	+	SATISFIED ANY ADDITIONAL REQUIREMENTS IMPOSED BY THE SELECTION6
	789	+	COMMITTEE PURSUANT TO SUBSECTION (7) OF THIS SECTION. WITHIN A7
	790	+	REASONABLE TIME AFTER RECEIPT OF SUCH DOCUMENTATION FROM THE8
	791	+	QUALIFIED APPLICANT, THE OFFICE SHALL REVIEW THE QUALIFIED9
	792	+	APPLICANT'S DOCUMENTATION OF CERTIFIED QUALIFIED INVESTMENT ,10
	793	+	DETERMINE WHETHER THE DOCUMENTATION SATISFIES THE11
	794	+	REQUIREMENTS OF THE OFFICE, AND, IF THE OFFICE DETERMINES THAT THE12
	795	+	DOCUMENTATION SATISFIES THE REQUIREMENTS OF THE OFFICE , THE13
	796	+	OFFICE SHALL ISSUE A TAX CREDIT CERTIFICATE IN THE AMOUNT SPECIFIED14
	797	+	IN THE TAX CREDIT RESERVATION, NOT TO EXCEED FIFTY PERCENT OF THE15
	798	+	CERTIFIED QUALIFIED INVESTMENT, ISSUED TO THE QUALIFIED APPLICANT16
	799	+	PURSUANT TO SUBSECTION (7) OF THIS SECTION; EXCEPT THAT A TAX17
	800	+	CREDIT CERTIFICATE MAY NOT BE ISSUED FOR AN INCOME TAX YEAR18
	801	+	COMMENCING BEFORE JANUARY 1, 2026, OR FOR AN INCOME TAX YEAR19
	802	+	COMMENCING ON OR AFTER JANUARY 1, 2033.20
	803	+	(9) Filing tax credit certificate with income tax return. (a) I
	804	+	N21
	805	+	ORDER TO CLAIM THE TAX CREDIT AUTHORIZED BY THIS SECTION , A22
	806	+	QUALIFIED APPLICANT SHALL FILE THE TAX CREDIT CERTIFICATE ISSUED BY23
	807	+	THE OFFICE PURSUANT TO SUBSECTION (8) OF THIS SECTION WITH THE24
	808	+	QUALIFIED APPLICANT'S STATE INCOME TAX RETURN . IF THE QUALIFIED25
	809	+	APPLICANT IS A POLITICAL SUBDIVISION OF THE STATE OR IS EXEMPT FROM26
	810	+	TAX PURSUANT TO SECTION 39-22-112 (1), THE QUALIFIED APPLICANT27
	811	+	1365
	812	+	-23- SHALL FILE A RETURN PURSUANT TO SECTION 39-22-601 (7)(b). THE1
	813	+	AMOUNT OF THE TAX CREDIT THAT A QUALIFIED APPLICANT MAY CLAIM2
	814	+	PURSUANT TO THIS SECTION IS THE AMOUNT STATED ON THE TAX CREDIT3
	815	+	CERTIFICATE.4
	816	+	(b) A
	817	+	TAX CREDIT CERTIFICATE ISSUED TO A PARTNERSHIP , A5
	818	+	LIMITED LIABILITY COMPANY TAXED AS A PARTNERSHIP , OR MULTIPLE6
	819	+	OWNERS OF A PROPERTY MUST BE PASSED THROUGH TO THE PARTNERS ,7
	820	+	MEMBERS, OR OWNERS, INCLUDING ANY NONPROFIT ENTITY THAT IS A8
	821	+	PARTNER, MEMBER, OR OWNER, RESPECTIVELY, ON A PRO RATA BASIS OR9
	822	+	PURSUANT TO AN EXECUTED AGREEMENT AMONG THE PARTNERS ,10
	823	+	MEMBERS, OR OWNERS DOCUMENTING AN ALTERNATE DISTRIBUTION11
	824	+	METHOD.12
	825	+	(10) Refundability. I
	826	+	F THE AMOUNT OF THE TAX CREDIT ALLOWED13
	827	+	PURSUANT TO THIS SECTION EXCEEDS THE AMOUNT OF INCOME TAXES14
	828	+	OTHERWISE DUE ON THE INCOME OF THE QUALIFIED APPLICANT IN THE15
	829	+	INCOME TAX YEAR FOR WHICH THE TAX CREDIT IS BEING CLAIMED , OR THE16
	830	+	QUALIFIED APPLICANT IS A POLITICAL SUBDIVISION OF THE STATE OR A17
	831	+	PERSON WHO IS EXEMPT FROM TAXATION PURSUANT TO SECTION18
	832	+	39-22-112
	833	+	(1), THE AMOUNT OF THE TAX CREDIT NOT USED AS AN OFFSET19
	834	+	AGAINST INCOME TAXES IN THE INCOME TAX YEAR IS REFUNDED TO THE20
	835	+	QUALIFIED APPLICANT.21
	836	+	(11) Compliance monitoring and recapture. (a) E
	837	+	XCEPT AS22
	838	+	PROVIDED IN SUBSECTION (11)(b) OF THIS SECTION, IF, AS OF THE LAST23
	839	+	DAY OF ANY TAXABLE YEAR DURING THE COMPLIANCE PERIOD , THE24
	840	+	EQUIPMENT, BUILDING, STRUCTURE, OR FACILITY THAT WAS DEEMED A25
	841	+	QUALIFIED ASSET IS NOT BEING USED AS A QUALIFIED ASSET , THE OFFICE26
	842	+	SHALL NOTIFY THE QUALIFIED APPLICANT AND THE DEPARTMENT THAT27
	843	+	1365
	844	+	-24- THE TAX CREDIT ALLOWED IN THIS SECTION IS DISALLOWED . THE1
	845	+	QUALIFIED APPLICANT SHALL ADD THE FULL AMOUNT OF THE TAX CREDIT2
	846	+	THAT WAS ACTUALLY USED TO OFFSET THE QUALIFIED APPLICANT 'S3
	847	+	INCOME TAX OR REFUNDED TO THE QUALIFIED APPLICANT TO ITS RETURN4
	848	+	AS A RECAPTURED TAX CREDIT FOR THE TAXABLE YEAR IN WHICH THE TAX5
	849	+	CREDIT IS DISALLOWED PURSUANT TO THIS SUBSECTION (11).6
	850	+	(b) T
	851	+	HE POTENTIAL INCREASE IN TAX REQUIRED PURSUANT TO7
	852	+	SUBSECTION (11)(a) OF THIS SECTION DOES NOT APPLY:8
	853	+	(I) I
	854	+	F A BUILDING, STRUCTURE, OR FACILITY IS NOT A QUALIFIED9
	855	+	ASSET AS A RESULT OF A CASUALTY LOSS IF THE LOSS IS RESTORED BY10
	856	+	RECONSTRUCTION OR REPLACEMENT WITHIN A REASONABLE PERIOD11
	857	+	ESTABLISHED BY THE OFFICE;
	858	+	12
	859	+	(II) S
	860	+	OLELY BY REASON OF THE DISPOSITION OF A BUILDING ,13
	861	+	STRUCTURE, OR FACILITY, OR AN INTEREST THEREIN, IF IT IS REASONABLY14
	862	+	EXPECTED THAT THE BUILDING, STRUCTURE, OR FACILITY WILL CONTINUE15
	863	+	TO BE OPERATED AS A QUALIFIED ASSET FOR THE REMAINDER OF THE16
	864	+	COMPLIANCE
	865	+	PERIOD; OR17
	866	+	(III) IF A QUALIFYING ASSET IS REPLACED OR UPGRADED IN THE18
	867	+	NORMAL COURSE OF ITS USE.19
	868	+	(c) (I) T
	869	+	HE OFFICE SHALL ESTABLISH REPORTING REQUIREMENTS20
	870	+	TO MONITOR COMPLIANCE WITH THIS SUBSECTION (11) THAT SHALL21
	871	+	INCLUDE:22
	872	+	(A) A
	873	+	DISPOSITION OF A QUALIFIED ASSET BY THE QUALIFIED23
	874	+	APPLICANT;24
	875	+	(B) T
	876	+	HE NUMBER OF ANNUAL TRAINEES WHO HAVE USED A25
	877	+	QUALIFIED ASSET;26
	878	+	(C) T
	879	+	HE GEOGRAPHIC DISTRIBUTION OF TRAINEES WHO HAVE USED27
	880	+	1365
	881	+	-25- A QUALIFIED ASSET;1
	882	+	(D) D
	883	+	EMOGRAPHIC INFORMATION ABOUT THE TRAINEES WHO HAVE2
	884	+	USED A QUALIFIED ASSET;3
	885	+	(E) T
	886	+	HE LOCATION AND DISPOSITION OF ASSETS DISPLACED BY A4
	887	+	QUALIFIED ASSET, IF ANY; AND5
	888	+	(F) T
	889	+	O THE EXTENT A QUALIFIED ASSET IS USED TO EXPAND OR6
	890	+	CREATE A TRAINING FACILITY, AN ASSESSMENT OF TRAINING CAPACITY7
	891	+	PRIOR TO IMPLEMENTATION OF THE QUALIFIED ASSET .8
	892	+	(II) I
	893	+	F A DISPUTE ARISES ABOUT WHETHER A POTENTIAL QUALIFIED9
	894	+	ASSET IS A QUALIFIED ASSET, THE OFFICE SHALL ADJUDICATE THE DISPUTE10
	895	+	AND NOTIFY THE DEPARTMENT OF THE RESOLUTION .11
	896	+	(III) N
	897	+	OTWITHSTANDING SECTION 39-21-107 (2), IF A QUALIFIED12
	898	+	ASSET IS DISPOSED OF DURING ANY TAXABLE YEAR DURING THE13
	899	+	COMPLIANCE PERIOD, AND THEREAFTER THE ASSET IS NOT A QUALIFIED14
	900	+	ASSET:15
260	901		(A) T
261		-	O UNDERSTAND WORKFORCE DEVELOPMENT NEEDS IN REGIONS
262		-	OF THE STATE
263		-	;
	902	+	HE QUALIFIED APPLICANT SHALL ADD THE FULL AMOUNT OF16
	903	+	THE TAX CREDIT TO ITS RETURN AS A RECAPTURED TAX CREDIT FOR THE17
	904	+	TAXABLE YEAR IN WHICH THE TAX CREDIT IS DISALLOWED PURSUANT TO18
	905	+	THIS SUBSECTION (11) NOTWITHSTANDING THE DISPOSITION OF THE19
	906	+	QUALIFIED ASSET;20
264	907		(B) T
265		-	O GENERATE A LANDSCAPE ANALYSIS FOR EACH IDENTIFIED
266		-	REGION THAT INCLUDES JOB PROJECTIONS AND AN OVERVIEW OF
267		-	EDUCATIONAL PATHWAYS
268		-	;
	908	+	HE STATUTORY PERIOD FOR THE ASSESSMENT OF ANY21
	909	+	DEFICIENCY WITH RESPECT TO THE DISALLOWED TAX CREDIT MUST NOT22
	910	+	EXPIRE BEFORE THE EXPIRATION OF THREE YEARS FROM THE DATE THE23
	911	+	OFFICE IS NOTIFIED, IN SUCH A MANNER AS THE OFFICE DETERMINES, THAT24
	912	+	THE STRUCTURE IS NOT A QUALIFIED ASSET; AND25
269	913		(C) T
270		-	O GATHER INSIGHT FROM EMPLOYERS ABOUT CRITICAL
271		-	WORKFORCE AND TRAINING NEEDS
272		-	;
	914	+	HE DEPARTMENT SHALL ASSESS ANY DEFICIENCY BEFORE THE26
	915	+	EXPIRATION OF SUCH THREE -YEAR PERIOD TOGETHER WITH ANY27
	916	+	1365
	917	+	-26- APPLICABLE INTEREST AND PENALTY IMPOSED PURSUANT TO THIS ARTICLE1
	918	+	22.2
	919	+	(d) A
	920	+	S USED IN THIS SUBSECTION (11), UNLESS THE CONTEXT3
	921	+	OTHERWISE REQUIRES, "COMPLIANCE PERIOD" MEANS THE PERIOD OF4
	922	+	FIFTEEN YEARS FOLLOWING THE TAXABLE YEAR IN WHICH THE QUALIFIED5
	923	+	APPLICANT PLACED THE QUALIFIED ASSET IN SERVICE .6
	924	+	(12) Reporting. (a) N
	925	+	O LATER THAN DECEMBER 31, 2025, AND,7
	926	+	NOTWITHSTANDING THE REQUIREMENT IN SECTION 24-1-136 (11)(a)(I), NO8
	927	+	LATER THAN DECEMBER 31 OF EACH YEAR THEREAFTER THROUGH 2033,9
	928	+	THE OFFICE SHALL PROVIDE A WRITTEN REPORT TO THE GENERAL10
	929	+	ASSEMBLY AND SHALL FURTHER MAKE THE REPORT AVAILABLE TO THE11
	930	+	PUBLIC. IN CONNECTION WITH TAX CREDITS ISSUED PURSUANT TO THIS12
	931	+	SECTION, THE REPORT MUST INCLUDE:13
	932	+	(I) T
	933	+	HE NUMBER OF QUALIFIED ASSETS PLACED IN SERVICE ;14
	934	+	(II) A
	935	+	DESCRIPTION OF THE USE OR USES OF EACH QUALIFIED ASSET15
	936	+	AND A STATEWIDE SUMMARY OF THE NUMBER OF QUALIFIED ASSETS FOR16
	937	+	EACH USE; AND17
	938	+	(III) T
	939	+	HE AMOUNT OF ANY DISALLOWED TAX CREDIT RECAPTURED18
	940	+	PURSUANT TO SUBSECTION (11) OF THIS SECTION.19
	941	+	(b) T
	942	+	HE OFFICE SHALL, IN A SUFFICIENTLY TIMELY MANNER TO20
	943	+	ALLOW THE DEPARTMENT TO PROCESS RETURNS CLAIMING THE INCOME21
	944	+	TAX CREDIT ALLOWED IN THIS SECTION, PROVIDE THE DEPARTMENT WITH22
	945	+	AN ELECTRONIC REPORT OF EACH QUALIFIED APPLICANT TO WHICH THE23
	946	+	OFFICE ISSUES A TAX CREDIT CERTIFICATE FOR THE PRECEDING TAX YEAR24
	947	+	THAT INCLUDES THE FOLLOWING INFORMATION :25
	948	+	(I) T
	949	+	HE QUALIFIED APPLICANT'S NAME;26
	950	+	(II) T
	951	+	HE AMOUNT OF THE TAX CREDIT; AND27
	952	+	1365
	953	+	-27- (III) THE QUALIFIED APPLICANT'S SOCIAL SECURITY NUMBER OR1
	954	+	THE QUALIFIED APPLICANT'S COLORADO ACCOUNT NUMBER AND FEDERAL2
	955	+	EMPLOYER IDENTIFICATION NUMBER .3
	956	+	(c) T
	957	+	HE OFFICE, THE OFFICE OF THE STATE AUDITOR, OR THE OFFICE4
	958	+	OF THE STATE CONTROLLER MAY REVIEW THE QUALIFIED APPLICANT 'S5
	959	+	FINANCES, EXPENSES, EQUIPMENT, EMPLOYMENT, AND TRAINING6
	960	+	DOCUMENTATION RELATING TO A QUALIFIED INVESTMENT IN A QUALIFIED7
	961	+	ASSET.8
	962	+	(13) Policies and procedures. (a) T
	963	+	HE OFFICE MAY CREATE AND9
	964	+	MODIFY POLICIES, PROCEDURES, AND GUIDELINES AS NECESSARY TO10
	965	+	FURTHER ADMINISTER THE TAX CREDITS ALLOWED PURSUANT TO THIS11
	966	+	SECTION AND SHALL SOLICIT ADVICE FROM THE DEPARTMENT IN CREATING12
	967	+	AND MODIFYING SUCH POLICIES, PROCEDURES, AND GUIDELINES.13
	968	+	(b) T
	969	+	HE OFFICE SHALL DEVELOP STANDARDS FOR DETERMINING14
	970	+	WHICH INDUSTRIES ARE INCLUDED AS A QUALIFIED INDUSTRY FOR WHICH15
	971	+	A TAX CREDIT UNDER THIS SECTION IS ALLOWED TO A QUALIFIED16
	972	+	APPLICANT.17
	973	+	(c) A
	974	+	NY STANDARDS DEVELOPED BY THE OFFICE PURSUANT TO18
	975	+	THIS SUBSECTION (13) MUST BE POSTED ON THE OFFICE'S WEBSITE. THE19
	976	+	OFFICE MAY ANNUALLY REVIEW AND UPDATE AS NECESSARY STANDARDS20
	977	+	DEVELOPED PURSUANT TO THIS SUBSECTION (13).21
273	978		(d) T
274		-	O CREATE REGIONAL GOALS FOR ADDRESSING TALENT NEEDS ;
275		-	(E) T
276		-	O DEVELOP COMPREHENSIVE TACTICAL PLANS ; AND
277		-	PAGE 7-HOUSE BILL 24-1365 (F) TO SUBMIT THE WORKFORCE PLANS GENERATED BY THE
278		-	PROGRAM FACILITATOR AS A RESULT OF THE REGIONAL TALENT SUMMITS BY
279		-	DECEMBER 1, 2025, TO THE OFFICE. THE OFFICE SHALL PROVIDE THE
280		-	WORKFORCE PLANS TO THE STATE WORKFORCE DEVELOPMENT COUNCIL
281		-	WHICH SHALL PUBLISH THE PLANS IN THE
282		-	COLORADO TALENT REPORT
283		-	PREPARED PURSUANT TO SECTION
284		-	24-46.3-103 (3) AND SHALL COORDINATE
285		-	WITH LOCAL ENTITIES AND ACROSS STATE AGENCIES TO SUPPORT REGIONAL
286		-	GOALS
287		-	.
288		-	(II) F
289		-	OR A GRANT FOR A REGIONAL HOST:
290		-	(A) T
291		-	O SECURE A FACILITY TO HOST THE REGIONAL SUMMIT ;
292		-	(B) T
293		-	O DETERMINE RELEVANT PARTNERS TO ATTEND THE REGIONAL
294		-	SUMMIT
295		-	; AND
296		-	(C) TO GATHER INSIGHT FROM REGIONAL EMPLOYERS ABOUT
297		-	WORKFORCE TRAINING NEEDS
298		-	.
299		-	(2) T
300		-	HE OFFICE, THROUGH THE SELECTION COMMITTEE , SHALL:
301		-	(a) A
302		-	WARD A GRANT TO AND EXECUTE A CONTRACT WITH A
303		-	PROGRAM FACILITATOR
304		-	. THE OFFICE SHALL REQUIRE THE PROGRAM
305		-	FACILITATOR TO
306		-	:
307		-	(I) W
308		-	ORK WITH THE OFFICE, THE DEPARTMENT OF LABOR AND
309		-	EMPLOYMENT
310		-	, THE DEPARTMENT OF EDUCATION, LOCAL DATA EXPERTS, AND
311		-	THE DEPARTMENT OF HIGHER EDUCATION TO GENERATE A LANDSCAPE
312		-	ANALYSIS FOR EACH IDENTIFIED REGION THAT INCLUDES JOB PROTECTIONS
313		-	AND AN OVERVIEW OF EDUCATIONAL PATHWAYS
314		-	;
315		-	(II) W
316		-	ORK WITH REGIONAL HOSTS TO PLAN REGIONAL TALENT
317		-	SUMMITS
318		-	;
319		-	(III) F
320		-	ACILITATE A SUMMIT FOR REGIONAL ATTENDEES TO IDENTIFY
321		-	REGIONAL ECONOMIC GOALS AND WORKFORCE DEVELOPMENT NEEDS
322		-	;
323		-	(IV) C
324		-	REATE ALIGNMENT BETWEEN BUSINESS , EDUCATION,
325		-	WORKFORCE, AND COMMUNITY PARTNERS FOR WORKFORCE DEVELOPMENT ;
326		-	AND
327		-	PAGE 8-HOUSE BILL 24-1365 (V) DEVELOP COMPREHENSIVE TACTICAL PLANS INFORMED BY THE
328		-	RESOURCES AND NEEDS OF EACH REGION THAT SET TWO
329		-	-YEAR GOALS AND
330		-	FIVE
331		-	-YEAR GOALS FOR DEVELOPING MORE CAREER PATHWAYS IN HIGH -NEED
332		-	FIELDS IN EACH REGION INCLUDING A LANDSCAPE ANALYSIS FOR EACH
333		-	REGION OF THE STATE THAT IDENTIFIES REGIONAL WORKFORCE NEEDS
334		-	,
335		-	OPPORTUNITIES, AND CHALLENGES.
336		-	(b) A
337		-	WARD A GRANT TO ONE OR MORE REGIONAL HOSTS . THE OFFICE
338		-	SHALL REQUIRE THE REGIONAL HOSTS TO
339		-	:
340		-	(I) S
341		-	ECURE A FACILITY TO HOST EACH REGIONAL SUMMIT ;
342		-	(II) D
343		-	ETERMINE RELEVANT BUSINESS , EDUCATION, WORKFORCE, AND
344		-	COMMUNITY PARTNERS TO PARTICIPATE IN EACH REGIONAL SUMMIT
345		-	; AND
346		-	(III) GATHER INSIGHT FROM REGIONAL EMPLOYERS ABOUT CRITICAL
347		-	WORKFORCE AND TRAINING NEEDS
348		-	.
349		-	(c) E
350		-	STABLISH A PROCESS FOR AN APPLICANT TO APPLY FOR A GRANT
351		-	TO FUND THE DEVELOPMENT OF REGIONAL TALENT SUMMITS
352		-	, WHICH
353		-	APPLICATION PROCESS MUST BE COMPLETED NO LATER THAN
354		-	NOVEMBER 1,
355		-	2024;
356		-	AND
357		-	(d) ESTABLISH POLICIES SETTING FORTH THE PARAMETERS AND
358		-	ELIGIBILITY FOR THE GRANT PROGRAM
359		-	.
360		-	(3) T
361		-	O BE ELIGIBLE FOR A GRANT , AN APPLICANT MUST, AT A
362		-	MINIMUM
363		-	, INCLUDE WITH ITS GRANT APPLICATION:
364		-	(a) A
365		-	DETAILED PROPOSAL AND OPERATIONS PLAN THAT MEETS THE
366		-	GOALS SPECIFIED IN SUBSECTION
367		-	(1)(c) OF THIS SECTION; AND
368		-	(b) INFORMATION ABOUT HOW THE PROPOSED REGIONAL TALENT
369		-	SUMMIT WILL ADDRESS THE ECONOMIC DEVELOPMENT GOALS OF EACH
370		-	REGION
371		-	.
372		-	(4) (a) T
373		-	HE OFFICE SHALL APPOINT A SELECTION COMMITTEE
374		-	CONSISTING OF MEMBERS WHO REPRESENT THE OFFICE
375		-	, THE COLORADO
376		-	WORKFORCE DEVELOPMENT COUNCIL
377		-	, LOCAL WORKFORCE DEVELOPMENT
378		-	PRACTITIONERS
379		-	, LOCAL EDUCATION PROVIDERS , INSTITUTIONS OF HIGHER
380		-	PAGE 9-HOUSE BILL 24-1365 EDUCATION, EDUCATION-RELATED COMMUNITY -BASED ORGANIZATIONS,
381		-	AND THE STATEWIDE CHAMBER OF COMMERCE .
382		-	(b) T
383		-	HE SELECTION COMMITTEE SHALL REVIEW GRANT APPLICATIONS
384		-	IN ACCORDANCE WITH THE PROCESSES AND CRITERIA SPECIFIED IN AND
385		-	DEVELOPED PURSUANT TO THIS SECTION AND SHALL MAKE FINAL
386		-	DETERMINATIONS AND AWARD GRANTS BASED ON THESE PROCESSES AND
387		-	CRITERIA
388		-	.
389		-	(c) (I) T
390		-	HE SELECTION COMMITTEE S HALL CONSIDER REGIONAL
391		-	DIVERSITY
392		-	, COMMUNITY ENGAGEMENT , LOCAL PARTNERSHIPS, AND EVENT
393		-	CAPACITY WHEN SELECTING ONE OR MORE REGIONAL HOSTS
394		-	.
395		-	(II) M
396		-	EMBERS OF THE SELECTION COMMITTEE SERVE WITHOUT
397		-	COMPENSATION BUT ARE ENTITLED TO REIMBURSEMENT FOR ACTUAL AND
398		-	NECESSARY EXPENSES INCURRED IN THE DISCHARGE OF THE MEMBERS
399		-	'
400		-	DUTIES.
401		-	24-48.5-705. Regional talent summit grant program fund.
402		-	(1) (a) T
403		-	HERE IS CREATED IN THE STATE TREASURY THE REGIONAL TALENT
404		-	SUMMIT GRANT PROGRAM FUND
405		-	.
406		-	(b) O
407		-	N JULY 1, 2024, THE STATE TREASURER SHALL TRANSFER TWO
408		-	HUNDRED THOUSAND DOLLARS FROM THE GENERAL FUND TO THE FUND FOR
409		-	GRANTS TO A PROGRAM FACILITATOR AND ONE OR MORE REGIONAL HOSTS
410		-	.
411		-	(c) T
412		-	HE MONEY IN THE FUND IS CONTINUOUSLY APPROPRIATED TO
413		-	THE OFFICE FOR USE IN ACCORDANCE WITH THIS PART
414		-	7.
415		-	(2) T
416		-	HE OFFICE MAY SEEK, ACCEPT, AND EXPEND GIFTS, GRANTS, OR
417		-	DONATIONS FROM PRIVATE OR PUBLIC SOURCES FOR THE PURPOSES OF THIS
418		-	PART
419		-	7.
420		-	24-48.5-706. Repeal of part. T
421		-	HIS PART 7 IS REPEALED, EFFECTIVE
422		-	JULY 1, 2030.
423		-	SECTION 6. In Colorado Revised Statutes, 8-83-208, add (1)(d)
424		-	as follows:
425		-	8-83-208. Implementation - local plans. (1) (d) B
426		-	EGINNING
427		-	PAGE 10-HOUSE BILL 24-1365 JANUARY 1, 2026, ANY MODIFIED OR NEW LOCAL PLAN MUST INCORPORATE
428		-	THE TACTICAL PLANS CREATED PURSUANT TO SECTION
429		-	24-48.5-704
430		-	(2)(a)(V).
431		-	SECTION 7. In Colorado Revised Statutes, add 39-22-565 as
432		-	follows:
433		-	39-22-565. Workforce shortage tax credit - tax preference
434		-	performance statement - report - definitions - repeal. (1) Tax
435		-	preference performance statement. I
436		-	N ACCORDANCE WITH SECTION
437		-	39-21-304 (1), WHICH REQUIRES EACH BILL THAT CREATES A NEW TAX
438		-	EXPENDITURE TO INCLUDE A TAX PREFERENCE PERFORMANCE STATEMENT
439		-	AS PART OF A STATUTORY LEGISLATIVE DECLARATION
440		-	, THE GENERAL
441		-	ASSEMBLY FINDS AND DECLARES THAT
442		-	:
443		-	(a) T
444		-	HE GENERAL LEGISLATIVE PURPOSES OF THE TAX CREDIT
445		-	ALLOWED BY THIS SECTION ARE
446		-	:
447		-	(I) T
448		-	O INDUCE CERTAIN DESIGNATED BEHAVIOR BY TAXPAYERS ; AND
449		-	(II) TO PROVIDE TAX RELIEF FOR CERTAIN BUSINESSES OR
450		-	INDIVIDUALS
451		-	.
452		-	(b) T
453		-	HE SPECIFIC LEGISLATIVE PURPOSE OF THE TAX CREDIT
454		-	ALLOWED BY THIS SECTION IS TO ENCOURAGE WORKFORCE DEVELOPMENT
455		-	IN INDUSTRIES THAT ARE FACING WORKER SHORTAGES BY PROVIDING
456		-	FINANCIAL ASSISTANCE FOR FACILITY IMPROVEMENT AND EQUIPMENT
457		-	ACQUISITION COSTS ASSOCIATED WITH TRAINING PROGRAMS DESIGNED TO
458		-	ALLEVIATE WORKER SHORTAGES
459		-	.
460		-	(c) T
461		-	HE GENERAL ASSEMBLY AND THE STATE AUDITOR SHALL
462		-	MEASURE THE EFFECTIVENESS OF THE TAX CREDIT IN ACHIEVING THE
463		-	PURPOSES SPECIFIED IN SUBSECTIONS
464		-	(1)(a) AND (1)(b) OF THIS SECTION
465		-	BASED ON THE INFORMATION REQUIRED TO BE MAINTAINED AND REPORTED
466		-	BY THE OFFICE PURSUANT TO SUBSECTION
467		-	(12) OF THIS SECTION.
468		-	(2) Definitions. A
469		-	S USED IN THIS SECTION, UNLESS THE CONTEXT
470		-	OTHERWISE REQUIRES
471		-	:
472		-	(a) "A
473		-	PPLICANT" MEANS A PERSON SUBJECT TO TAX PURSUANT TO
474		-	PAGE 11-HOUSE BILL 24-1365 THIS ARTICLE 22, AN ENTITY THAT IS EXEMPT FROM TAXATION PURSUANT TO
475		-	SECTION
476		-	39-22-112 (1), OR A POLITICAL SUBDIVISION OF THE STATE.
477		-	(b) "A
478		-	PPLICATION" MEANS AN APPLICATION IN THE FORM AND
479		-	MANNER APPROVED BY THE OFFICE FOR THE TAX CREDIT ALLOWED IN THIS
480		-	SECTION
481		-	.
482		-	(c) "D
483		-	EPARTMENT" MEANS THE DEPARTMENT OF REVENUE .
484		-	(d) "F
485		-	EDERAL INVESTMENTS " MEANS THE FEDERAL
486		-	"INFRASTRUCTURE INVESTMENT AND JOBS ACT", PUB.L. 117-58, THE
487		-	FEDERAL
488		-	"INFLATION REDUCTION ACT OF 2022", PUB.L. 117-169, AND THE
489		-	FEDERAL
490		-	"CHIPS AND SCIENCE ACT OF 2022", PUB.L. 117-167.
491		-	(e) "O
492		-	FFICE" MEANS THE COLORADO OFFICE OF ECONOMIC
493		-	DEVELOPMENT CREATED IN SECTION
494		-	24-48.5-101.
495		-	(f) "P
496		-	OTENTIAL QUALIFIED ASSET" MEANS AN ASSET THAT MAY BE
497		-	A QUALIFIED ASSET UPON THE DETERMINATION OF THE OFFICE
498		-	.
499		-	(g) "Q
500		-	UALIFIED APPLICANT" MEANS AN APPLICANT THAT MAKES A
501		-	QUALIFIED INVESTMENT TO TRAIN INDIVIDUALS IN A QUALIFIED INDUSTRY
502		-	AND THAT IS SELECTED PURSUANT TO SUBSECTION
503		-	(5) OF THIS SECTION.
504		-	(h) (I) "Q
505		-	UALIFIED ASSET" MEANS:
506		-	(A) L
507		-	AND IN THIS STATE;
508		-	(B) B
509		-	UILDINGS, FIXTURES, AND OTHER STRUCTURAL COMPONENTS
510		-	OF BUILDINGS IN THIS STATE FOR WHICH THE APPLICANT IS ALLOWED A
511		-	DEDUCTION FOR DEPRECIATION PURSUANT TO SECTION
512		-	167 OF THE INTERNAL
513		-	REVENUE CODE
514		-	, INCLUDING PURCHASING OR CONSTRUCTING A FACILITY ,
515		-	RENOVATING A FACILITY, MAKING TENANT IMPROVEMENTS , AND FUNDING
516		-	A CAPITAL LEASE WITH CAPITALIZED LABOR
517		-	, CONSTRUCTION, AND
518		-	INSTALLATION COSTS
519		-	;
520		-	(C) T
521		-	ANGIBLE PERSONAL PROPERTY ACQUIRED FOR USE
522		-	EXCLUSIVELY IN THIS STATE FOR WHICH THE APPLICANT IS ALLOWED A
523		-	DEDUCTION FOR DEPRECIATION PURSUANT TO SECTION
524		-	167 OF THE INTERNAL
525		-	REVENUE CODE
526		-	; AND
527		-	PAGE 12-HOUSE BILL 24-1365 (D) COMPUTER SOFTWARE ACQUIRED FOR USE EXCLUSIVELY IN THIS
528		-	STATE FOR WHICH THE APPLICANT IS ALLOWED A DEDUCTION FOR
529		-	DEPRECIATION UNDER SECTION
530		-	167 OF THE INTERNAL REVENUE CODE.
531		-	(II) F
532		-	OR PURPOSES OF THIS SUBSECTION (2)(h), IF AN APPLICANT IS
533		-	NOT SUBJECT TO FEDERAL INCOME TAX
534		-	, THE APPLICANT IS DEEMED TO BE
535		-	ALLOWED A DEDUCTION FOR DEPRECIATION IF SUCH A DEDUCTION WOULD
536		-	HAVE BEEN ALLOWED WERE THE APPLICANT SUBJECT TO FEDERAL INCOME
537		-	TAX
538		-	.
539		-	(i) "Q
540		-	UALIFIED INDUSTRY" MEANS AN INDUSTRY AFFECTED BY
541		-	FEDERAL INVESTMENTS THAT HAS A DEMONSTRATED WORKFORCE
542		-	SHORTAGE
543		-	, AS DETERMINED BY THE OFFICE AS SPECIFIED IN THE POLICIES
544		-	AND PROCEDURES DEVELOPED BY THE OFFICE PURSUANT TO SUBSECTION
545		-	(13) OF THIS SECTION.
546		-	(j) "Q
547		-	UALIFIED INVESTMENT" MEANS THE AMOUNT PAID BY A
548		-	QUALIFIED APPLICANT TO ACQUIRE
549		-	, CONSTRUCT, RECONSTRUCT, OR ERECT
550		-	A QUALIFIED ASSET TO THE EXTENT THE AMOUNT PAID REFLECTS NEW
551		-	ACTIVITY AND TO THE EXTENT THE AMOUNT IS REQUIRED TO BE CAPITALIZED
552		-	PURSUANT TO THE INTERNAL REVENUE CODE OR THE AMOUNT IS ALLOWED
553		-	TO BE DEDUCTED UNDER SECTION
554		-	179 OF THE INTERNAL REVENUE CODE.
555		-	(k) "S
556		-	ELECTION COMMITTEE" MEANS A SELECTION COMMITTEE
557		-	APPOINTED BY THE OFFICE CONSISTING OF MEMBERS WHO HAVE EXPERTISE
558		-	AND EXPERIENCE AS EMPLOYERS
559		-	, IN EDUCATION, OR IN OTHER RELEVANT
560		-	AREAS
561		-	.
562		-	(3) Tax credit allowed. (a) E
563		-	XCEPT AS PROVIDED IN SUBSECTION
564		-	(3)(c) OF THIS SECTION, A QUALIFIED APPLICANT IS ALLOWED TO USE A TAX
565		-	CREDIT CERTIFICATE ISSUED BY THE OFFICE PURSUANT TO SUBSECTION
566		-	(8)
567		-	OF THIS SECTION AGAINST THE INCOME TAXES IMPOSED BY THIS ARTICLE 22
568		-	IN THE INCOME TAX YEAR THAT THE QUALIFIED APPLICANT PLACES A
569		-	QUALIFIED ASSET IN SERVICE IN THE AMOUNT SPECIFIED ON THE TAX CREDIT
570		-	CERTIFICATE ISSUED BY THE OFFICE
571		-	; EXCEPT THAT THE TAX CREDIT
572		-	CERTIFICATE MAY NOT BE USED IN AN INCOME TAX YEAR COMMENCING
573		-	BEFORE
574		-	JANUARY 1, 2026, AND MAY NOT BE USED IN AN INCOME TAX YEAR
575		-	COMMENCING ON OR AFTER
576		-	JANUARY 1, 2033.
577		-	(b) I
578		-	N ORDER TO CLAIM THE TAX CREDIT ALLOWED PURSUANT TO
579		-	PAGE 13-HOUSE BILL 24-1365 THIS SECTION, THE QUALIFIED APPLICANT MUST SUBMIT AN APPLICATION AS
580		-	SPECIFIED IN SUBSECTION
581		-	(5) OF THIS SECTION, PLACE THE QUALIFIED ASSET
582		-	INTO SERVICE BEFORE
583		-	JANUARY 1, 2033, OBTAIN A TAX CREDIT CERTIFICATE
584		-	FROM THE OFFICE AS SPECIFIED IN SUBSECTION
585		-	(8) OF THIS SECTION, AND,
586		-	ONCE ISSUED BY THE OFFICE, FILE THE TAX CREDIT CERTIFICATE WITH THE
587		-	QUALIFIED APPLICANT
588		-	'S INCOME TAX RETURN AS SPECIFIED IN SUBSECTION
589		-	(9) OF THIS SECTION.
590		-	(c) A
591		-	TAX CREDIT IS NOT ALLOWED PURSUANT TO THIS SECTION IF :
592		-	(I)
593		-	THE AMOUNT REFUNDED PURSUANT TO SUBSECTION (10) OF THIS
594		-	SECTION IS USED TO SUPPLANT LOCAL
595		-	, STATE, OR FEDERAL MONEY THAT
596		-	WOULD OTHERWISE BE APPROPRIATED
597		-	; OR
598		-	(II) THE QUALIFIED APPLICANT EXPENDS MONEY RECEIVED FROM THE
599		-	STATE TO OFFSET AT LEAST HALF OF A QUALIFIED INVESTMENT
600		-	, NOT
601		-	INCLUDING THE AMOUNT REFUNDED PURSUANT TO SUBSECTION
602		-	(10) OF THIS
603		-	SECTION
604		-	.
605		-	(4) Tax credit administration. E
606		-	XCEPT AS OTHERWISE PROVIDED
607		-	IN SUBSECTION
608		-	(7) OF THIS SECTION, THE OFFICE IS THE ADMINISTRATOR OF
609		-	THE TAX CREDIT ALLOWED BY THIS SECTION
610		-	.
611		-	(5) Application submission and review. (a) A
612		-	N APPLICANT THAT
613		-	INTENDS TO CLAIM A TAX CREDIT PURSUANT TO THIS SECTION SHALL SUBMIT
614		-	AN APPLICATION TO THE OFFICE
615		-	.
616		-	(b) T
617		-	HE OFFICE SHALL ACCEPT APPLICATIONS FOR ANNUAL
618		-	APPLICATION PERIODS BY DEADLINES ESTABLISHED IN THE POLICIES AND
619		-	PROCEDURES DEVELOPED BY THE OFFICE PURSUANT TO SUBSECTION
620		-	(13) OF
621		-	THIS SECTION
622		-	; EXCEPT THAT THE OFFICE MAY ONLY RECEIVE APPLICATIONS
623		-	BETWEEN
624		-	JANUARY 1, 2025, AND DECEMBER 31, 2029.
625		-	(c) T
626		-	HE OFFICE SHALL REVIEW ALL SUBMITTED APPLICATIONS TO
627		-	DETERMINE WHETHER
628		-	:
629		-	(I) T
630		-	HE APPLICANT IS A QUALIFIED APPLICANT; AND
631		-	(II) THE APPLICATION IS COMPLETE AND INCLUDES A DESCRIPTION OF
632		-	A POTENTIAL QUALIFIED ASSET AND THE ESTIMATED QUALIFIED INVESTMENT
633		-	.
634		-	PAGE 14-HOUSE BILL 24-1365 (d) IF THE OFFICE DETERMINES THAT THE APPLICATION IS COMPLETE
635		-	AND IN COMPLIANCE
636		-	, THE OFFICE SHALL ADD THE APPLICATION TO AN
637		-	EVALUATION POOL FOR THE APPLICATION PERIOD
638		-	. WITHIN A REASONABLE
639		-	PERIOD AFTER THE END OF THE APPLICATION PERIOD
640		-	, THE OFFICE SHALL
641		-	FORWARD THE EVALUATION POOL TO THE SELECTION COMMITTEE FOR THE
642		-	MERIT
643		-	-BASED REVIEW DESCRIBED IN SUBSECTION (7) OF THIS SECTION.
644		-	(e) I
645		-	F THE OFFICE DETERMINES THAT THE APPLICATION IS
646		-	INCOMPLETE OR THAT IT DOES NOT COMPLY WITH THE REQUIREMENTS OF
647		-	THIS SECTION OR THE POLICIES AND PROCEDURES DEVELOPED BY THE OFFICE
648		-	PURSUANT TO SUBSECTION
649		-	(13) OF THIS SECTION, THE OFFICE SHALL REMOVE
650		-	THE APPLICATION FROM THE REVIEW PROCESS AND NOTIFY THE APPLICANT
651		-	IN WRITING OF ITS DECISION
652		-	. AN APPLICANT MAY RESUBMIT A DISAPPROVED
653		-	APPLICATION TO BE EVALUATED IN A FUTURE APPLICATION PERIOD
654		-	.
655		-	(6) Application and issuance fees. (a) (I) F
656		-	OR AN APPLICATION FOR
657		-	WHICH THE AMOUNT OF THE TAX CREDIT REQUESTED BY AN APPLICANT
658		-	PURSUANT TO THIS SECTION IS TWO HUNDRED FIFTY THOUSAND DOLLARS OR
659		-	MORE
660		-	, THE OFFICE MAY IMPOSE A REASONABLE APPLICATION FEE ON AN
661		-	APPLICANT THAT DOES NOT EXCEED FIVE HUNDRED DOLLARS
662		-	.
663		-	(II)
664		-	FOR AN APPLICATION FOR WHICH THE AMOUNT OF THE TAX
665		-	CREDIT REQUESTED BY AN APPLICANT PURSUANT TO THIS SECTION IS LESS
666		-	THAN TWO HUNDRED FIFTY THOUSAND DOLLARS
667		-	, THE OFFICE MAY IMPOSE
668		-	A REASONABLE APPLICATION FEE ON AN APPLICANT THAT DOES NOT EXCEED
669		-	TWO HUNDRED DOLLARS
670		-	.
671		-	(b) T
672		-	HE OFFICE MAY IMPOSE ON A QUALIFIED APPLICANT A
673		-	REASONABLE ISSUANCE FEE OF UP TO THREE PERCENT OF THE AMOUNT OF
674		-	THE TAX CREDIT SPECIFIED ON THE TAX CREDIT CERTIFICATE ISSUED BY THE
675		-	OFFICE AS SPECIFIED IN SUBSECTION
676		-	(8) OF THIS SECTION, WHICH MUST BE
677		-	PAID BEFORE THE TAX CREDIT CERTIFICATE IS ISSUED TO THE QUALIFIED
678		-	APPLICANT
679		-	.
680		-	(c) A
681		-	NY FEE REVENUE COLLECTED PURSUANT TO THIS SUBSECTION
682		-	(6) MUST BE APPLIED TO THE ADMINISTRATION OF THE TAX CREDIT CREATED
683		-	BY THIS SECTION
684		-	.
685		-	(7) Merit-based review and tax credit reservation. (a) (I) F
686		-	OR
687		-	EACH APPLICATION PERIOD
688		-	, THE SELECTION COMMITTEE SHALL CONDUCT A
689		-	PAGE 15-HOUSE BILL 24-1365 MERIT-BASED REVIEW OF THE APPLICATIONS THAT HAVE BEEN PLACED IN
690		-	THE EVALUATION POOL PURSUANT TO SUBSECTION
691		-	(5)(d) OF THIS SECTION.
692		-	T
693		-	HE SELECTION COMMITTEE SHALL COMPLETE ITS REVIEW AND AWARD
694		-	RESERVATIONS WITHIN A REASONABLE PERIOD AFTER THE END OF THE
695		-	APPLICATION PERIOD
696		-	, NOT TO EXCEED NINETY DAYS.
697		-	(II) E
698		-	XCEPT AS PROVIDED IN SUBSECTION (7)(a)(IV) OF THIS
699		-	SECTION
700		-	, BASED UPON THE TOTALITY OF THE FACTORS SET FORTH IN
701		-	SUBSECTION
702		-	(7)(c) OF THIS SECTION, THE SELECTION COMMITTEE MAY
703		-	RESERVE FOR THE BENEFIT OF A QUALIFIED APPLICANT A TAX CREDIT IN AN
704		-	AMOUNT TO BE DETERMINED BY THE SELECTION COMMITTEE NOT TO EXCEED
705		-	FIFTY PERCENT OF THE ESTIMATED QUALIFIED INVESTMENT
706		-	; EXCEPT THAT
707		-	THE AGGREGATE AMOUNT OF TAX CREDITS RESERVED FOR ALL QUALIFIED
708		-	APPLICANTS IN AN ANNUAL APPLICATION PERIOD MAY NOT EXCEED FIFTEEN
709		-	MILLION DOLLARS
710		-	.
711		-	(III) T
712		-	HE SELECTION COMMITTEE MAY RESERVE TAX CREDITS TO BE
713		-	USED BY A QUALIFIED APPLICANT FOR INCOME TAX YEARS COMMENCING ON
714		-	OR AFTER
715		-	JANUARY 1, 2026, BUT BEFORE JANUARY 1, 2033, BASED UPON
716		-	THE ANTICIPATED DATE THE QUALIFIED ASSET IS PLACED INTO SERVICE
717		-	.
718		-	(IV) I
719		-	F THE SEPTEMBER 2025 REVENUE FORECAST, AND EACH
720		-	SEPTEMBER REVENUE FORECAST THROUGH THE SEPTEMBER 2028 REVENUE
721		-	FORECAST AS PREPARED BY EITHER LEGISLATIVE COUNCIL STAFF OR THE
722		-	OFFICE OF STATE PLANNING AND BUDGETING
723		-	, PROJECTS THAT STATE
724		-	REVENUES
725		-	, AS DEFINED IN SECTION 24-77-201 (4), WILL NOT INCREASE BY AT
726		-	LEAST FOUR PERCENT FOR THE CURRENT FISCAL YEAR
727		-	, THE AGGREGATE
728		-	AMOUNT OF TAX CREDITS RESERVED FOR ALL QUALIFIED APPLICANTS IN THE
729		-	APPLICATION PERIOD COMMENCING IN THE CALENDAR YEAR THAT BEGINS
730		-	DURING THE CURRENT FISCAL YEAR IS REDUCED BY FIFTY PERCENT
731		-	; EXCEPT
732		-	THAT IF THE AMOUNT OF A REDUCED TAX CREDIT RESERVATION IS EQUAL TO
733		-	OR LESS THAN FIVE HUNDRED DOLLARS
734		-	, THEN THE SELECTION COMMITTEE
735		-	SHALL NOT ISSUE A TAX CREDIT RESERVATION
736		-	.
737		-	(b) (I) I
738		-	F THE SELECTION COMMITTEE RESERVES TAX CREDITS FOR
739		-	THE BENEFIT OF A QUALIFIED APPLICANT UNDER SUBSECTION
740		-	(7)(a) OF THIS
741		-	SECTION
742		-	, THE SELECTION COMMITTEE SHALL NOTIFY THE OFFICE OF THE
743		-	RESERVATION AND THE AMOUNT OF TAX CREDITS RESERVED
744		-	. THE OFFICE
745		-	SHALL NOTIFY THE QUALIFIED APPLICANT OF THE TAX CREDIT RESERVATION
746		-	.
747		-	T
748		-	HE RESERVATION OF A TAX CREDIT DOES NOT ENTITLE THE QUALIFIED
749		-	PAGE 16-HOUSE BILL 24-1365 APPLICANT TO AN ISSUANCE OF A TAX CREDIT CERTIFICATE UNTIL THE
750		-	QUALIFIED APPLICANT COMPLIES WITH ALL THE REQUIREMENTS SPECIFIED IN
751		-	THIS SECTION
752		-	, BY THE SELECTION COMMITTEE, OR BY THE OFFICE, FOR THE
753		-	ISSUANCE OF A TAX CREDIT CERTIFICATE PURSUANT TO SUBSECTION
754		-	(8) OF
755		-	THIS SECTION
756		-	.
757		-	(II) T
758		-	HE OFFICE SHALL NOTIFY ANY QUALIFIED APPLICANT IN
759		-	WRITING FOR WHICH THE SELECTION COMMITTEE RESERVED NO TAX CREDIT
760		-	UNDER SUBSECTION
761		-	(7)(a) OF THIS SECTION.
762		-	(c) (I) I
763		-	N CONDUCTING THE MERIT -BASED REVIEW PURSUANT TO
764		-	SUBSECTION
765		-	(7)(a) OF THIS SECTION, THE SELECTION COMMITTEE SHALL
766		-	CONSIDER THE FACTORS SET FORTH IN THIS SUBSECTION
767		-	(7)(c) IN ADDITION
768		-	TO ANY OTHER FACTORS THE SELECTION COMMITTEE MAY REQUEST THE
769		-	OFFICE TO INCLUDE IN ITS POLICIES AND PROCEDURES DEVELOPED PURSUANT
770		-	TO SUBSECTION
771		-	(13) OF THIS SECTION. THE SELECTION COMMITTEE MAY
772		-	WEIGH THE FACTORS EQUALLY OR DIFFERENTLY
773		-	.
774		-	(II) T
775		-	HE SELECTION COMMITTEE SHALL CONSIDER :
776		-	(A) W
777		-	HETHER THE QUALIFIED APPLICANT'S QUALIFIED INVESTMENT
778		-	WILL INFLUENCE COMPETITIVENESS IN A QUALIFIED INDUSTRY
779		-	;
780		-	(B) W
781		-	HETHER THE QUALIFIED APPLICANT'S QUALIFIED INVESTMENT
782		-	WILL RESULT IN INCREASED JOB PLACEMENTS IN QUALIFIED INDUSTRIES OR
783		-	INCREASED JOB PLACEMENTS WITH A LIVING WAGE IN QUALIFIED
784		-	INDUSTRIES
785		-	;
786		-	(C) T
787		-	HE TYPE, SCOPE, AND QUALITY OF THE QUALIFIED APPLICANT'S
788		-	QUALIFIED ASSET AND THE RESULTING TRAINING OF INDIVIDUALS IN A
789		-	QUALIFIED INDUSTRY
790		-	; AND
791		-	(D) WHETHER THE QUALIFIED APPLICANT'S QUALIFIED INVESTMENT
792		-	WILL RESULT IN INCREASED TRAINING AND WORKFORCE DEVELOPMENT IN A
793		-	QUALIFIED INDUSTRY
794		-	.
795		-	(d) T
796		-	HE SELECTION COMMITTEE MAY IMPOSE ADDITIONAL
797		-	REQUIREMENTS ON THE QUALIFIED APPLICANT AS A CONDITION OF
798		-	AWARDING THE TAX CREDIT RESERVATION PURSUANT TO THIS SUBSECTION
799		-	(7).
800		-	PAGE 17-HOUSE BILL 24-1365 (8) Proof of compliance - audit of eligible expenditure
801		-	certification - issuance of tax credit certificate. A
802		-	FTER A QUALIFIED
803		-	APPLICANT PLACES A POTENTIAL QUALIFIED ASSET IN SERVICE
804		-	, THE
805		-	QUALIFIED APPLICANT SHALL NOTIFY THE OFFICE THAT THE POTENTIAL
806		-	QUALIFIED ASSET HAS BEEN PLACED IN SERVICE AND SHALL CERTIFY THE
807		-	QUALIFIED INVESTMENT
808		-	, AFTER WHICH THE OFFICE SHALL MAKE A FINAL
809		-	DETERMINATION WHETHER THE POTENTIAL QUALIFIED ASSET IS A QUALIFIED
810		-	ASSET
811		-	. THE QUALIFIED APPLICANT SHALL INCLUDE A REVIEW OF THE
812		-	CERTIFICATION BY A LICENSED CERTIFIED PUBLIC ACCOUNTANT THAT IS NOT
813		-	AFFILIATED WITH THE QUALIFIED APPLICANT AND THAT ALIGNS WITH OFFICE
814		-	POLICIES FOR CERTIFICATION OF A QUALIFIED INVESTMENT
815		-	. THE QUALIFIED
816		-	APPLICANT SHALL ALSO CERTIFY AND PROVIDE DOCUMENTS
817		-	DEMONSTRATING THAT THE QUALIFIED APPLICANT SATISFIED ANY
818		-	ADDITIONAL REQUIREMENTS IMPOSED BY THE SELECTION COMMITTEE
819		-	PURSUANT TO SUBSECTION
820		-	(7) OF THIS SECTION. WITHIN A REASONABLE
821		-	TIME AFTER RECEIPT OF SUCH DOCUMENTATION FROM THE QUALIFIED
822		-	APPLICANT
823		-	, THE OFFICE SHALL REVIEW THE QUALIFIED APPLICANT 'S
824		-	DOCUMENTATION OF CERTIFIED QUALIFIED INVESTMENT
825		-	, DETERMINE
826		-	WHETHER THE DOCUMENTATION SATISFIES THE REQUIREMENTS OF THE
827		-	OFFICE
828		-	, AND, IF THE OFFICE DETERMINES THAT THE DOCUMENTATION
829		-	SATISFIES THE REQUIREMENTS OF THE OFFICE
830		-	, THE OFFICE SHALL ISSUE A TAX
831		-	CREDIT CERTIFICATE IN THE AMOUNT SPECIFIED IN THE TAX CREDIT
832		-	RESERVATION
833		-	, NOT TO EXCEED FIFTY PERCENT OF THE CERTIFIED QUALIFIED
834		-	INVESTMENT
835		-	, ISSUED TO THE QUALIFIED APPLICANT PURS UANT TO
836		-	SUBSECTION
837		-	(7) OF THIS SECTION; EXCEPT THAT A TAX CREDIT CERTIFICATE
838		-	MAY NOT BE ISSUED FOR AN INCOME TAX YEAR COMMENCING BEFORE
839		-	JANUARY 1, 2026, OR FOR AN INCOME TAX YEAR COMMENCING ON OR AFTER
840		-	JANUARY 1, 2033.
841		-	(9) Filing tax credit certificate with income tax return. (a) I
842		-	N
843		-	ORDER TO CLAIM THE TAX CREDIT AUTHORIZED BY THIS SECTION
844		-	, A
845		-	QUALIFIED APPLICANT SHALL FILE THE TAX CREDIT CERTIFICATE ISSUED BY
846		-	THE OFFICE PURSUANT TO SUBSECTION
847		-	(8) OF THIS SECTION WITH THE
848		-	QUALIFIED APPLICANT
849		-	'S STATE INCOME TAX RETURN . IF THE QUALIFIED
850		-	APPLICANT IS A POLITICAL SUBDIVISION OF THE STATE OR IS EXEMPT FROM
851		-	TAX PURSUANT TO SECTION
852		-	39-22-112 (1), THE QUALIFIED APPLICANT SHALL
853		-	FILE A RETURN PURSUANT TO SECTION
854		-	39-22-601 (7)(b). THE AMOUNT OF
855		-	THE TAX CREDIT THAT A QUALIFIED APPLICANT MAY CLAIM PURSUANT TO
856		-	THIS SECTION IS THE AMOUNT STATED ON THE TAX CREDIT CERTIFICATE
857		-	.
858		-	PAGE 18-HOUSE BILL 24-1365 (b) A TAX CREDIT CERTIFICATE ISSUED TO A PARTNERSHIP, A LIMITED
859		-	LIABILITY COMPANY TAXED AS A PARTNERSHIP
860		-	, OR MULTIPLE OWNERS OF A
861		-	PROPERTY MUST BE PASSED THROUGH TO THE PARTNERS
862		-	, MEMBERS, OR
863		-	OWNERS
864		-	, INCLUDING ANY NONPROFIT ENTITY THAT IS A PARTNER , MEMBER,
865		-	OR OWNER, RESPECTIVELY, ON A PRO RATA BASIS OR PURSUANT TO AN
866		-	EXECUTED AGREEMENT AMONG THE PARTNERS
867		-	, MEMBERS, OR OWNERS
868		-	DOCUMENTING AN ALTERNATE DISTRIBUTION METHOD
869		-	.
870		-	(10) Refundability. I
871		-	F THE AMOUNT OF THE TAX CREDIT ALLOWED
872		-	PURSUANT TO THIS SECTION EXCEEDS THE AMOUNT OF INCOME TAXES
873		-	OTHERWISE DUE ON THE INCOME OF THE QUALIFIED APPLICANT IN THE
874		-	INCOME TAX YEAR FOR WHICH THE TAX CREDIT IS BEING CLAIMED
875		-	, OR THE
876		-	QUALIFIED APPLICANT IS A POLITICAL SUBDIVISION OF THE STATE OR A
877		-	PERSON WHO IS EXEMPT FROM TAXATION PURSUANT TO SECTION
878		-	39-22-112
879		-	(1),
880		-	THE AMOUNT OF THE TAX CREDIT NOT USED AS AN OFFSET AGAINST
881		-	INCOME TAXES IN THE INCOME TAX YEAR IS REFUNDED TO THE QUALIFIED
882		-	APPLICANT
883		-	.
884		-	(11) Compliance monitoring and recapture. (a) E
885		-	XCEPT AS
886		-	PROVIDED IN SUBSECTION
887		-	(11)(b) OF THIS SECTION, IF, AS OF THE LAST DAY
888		-	OF ANY TAXABLE YEAR DURING THE COMPLIANCE PERIOD
889		-	, THE EQUIPMENT,
890		-	BUILDING, STRUCTURE, OR FACILITY THAT WAS DEEMED A QUALIFIED ASSET
891		-	IS NOT BEING USED AS A QUALIFIED ASSET
892		-	, THE OFFICE SHALL NOTIFY THE
893		-	QUALIFIED APPLICANT AND THE DEPARTMENT THAT THE TAX CREDIT
894		-	ALLOWED IN THIS SECTION IS DISALLOWED
895		-	. THE QUALIFIED APPLICANT
896		-	SHALL ADD THE FULL AMOUNT OF THE TAX CREDIT THAT WAS ACTUALLY
897		-	USED TO OFFSET THE QUALIFIED APPLICANT
898		-	'S INCOME TAX OR REFUNDED TO
899		-	THE QUALIFIED APPLICANT TO ITS RETURN AS A RECAPTURED TAX CREDIT
900		-	FOR THE TAXABLE YEAR IN WHICH THE TAX CREDIT IS DISALLOWED
901		-	PURSUANT TO THIS SUBSECTION
902		-	(11).
903		-	(b) T
904		-	HE POTENTIAL INCREASE IN TAX REQUIRED PURSUANT TO
905		-	SUBSECTION
906		-	(11)(a) OF THIS SECTION DOES NOT APPLY:
907		-	(I) I
908		-	F A BUILDING, STRUCTURE, OR FACILITY IS NOT A QUALIFIED
909		-	ASSET AS A RESULT OF A CASUALTY LOSS IF THE LOSS IS RESTORED BY
910		-	RECONSTRUCTION OR REPLACEMENT WITHIN A REASONABLE PERIOD
911		-	ESTABLISHED BY THE OFFICE
912		-	;
913		-	(II) S
914		-	OLELY BY REASON OF THE DISPOSITION OF A BUILDING ,
915		-	PAGE 19-HOUSE BILL 24-1365 STRUCTURE, OR FACILITY, OR AN INTEREST THEREIN, IF IT IS REASONABLY
916		-	EXPECTED THAT THE BUILDING
917		-	, STRUCTURE, OR FACILITY WILL CONTINUE TO
918		-	BE OPERATED AS A QUALIFIED ASSET FOR THE REMAINDER OF THE
919		-	COMPLIANCE PERIOD
920		-	; OR
921		-	(III) IF A QUALIFYING ASSET IS REPLACED OR UPGRADED IN THE
922		-	NORMAL COURSE OF ITS USE
923		-	.
924		-	(c) (I) T
925		-	HE OFFICE SHALL ESTABLISH REPORTING REQUIREMENTS TO
926		-	MONITOR COMPLIANCE WITH THIS SUBSECTION
927		-	(11) THAT SHALL INCLUDE:
928		-	(A) A
929		-	DISPOSITION OF A QUALIFIED ASSET BY THE QUALIFIED
930		-	APPLICANT
931		-	;
932		-	(B) T
933		-	HE NUMBER OF ANNUAL TRAINEES WHO HAVE USED A
934		-	QUALIFIED ASSET
935		-	;
936		-	(C) T
937		-	HE GEOGRAPHIC DISTRIBUTION OF TRAINEES WHO HAVE USED
938		-	A QUALIFIED ASSET
939		-	;
940		-	(D) D
941		-	EMOGRAPHIC INFORMATION ABOUT THE TRAINEES WHO HAVE
942		-	USED A QUALIFIED ASSET
943		-	;
944		-	(E) T
945		-	HE LOCATION AND DISPOSITION OF ASSETS DISPLACED BY A
946		-	QUALIFIED ASSET
947		-	, IF ANY; AND
948		-	(F) TO THE EXTENT A QUALIFIED ASSET IS USED TO EXPAND OR
949		-	CREATE A TRAINING FACILITY
950		-	, AN ASSESSMENT OF TRAINING CAPACITY PRIOR
951		-	TO IMPLEMENTATION OF THE QUALIFIED ASSET
952		-	.
953		-	(II) I
954		-	F A DISPUTE ARISES ABOUT WHETHER A POTENTIAL QUALIFIED
955		-	ASSET IS A QUALIFIED ASSET
956		-	, THE OFFICE SHALL ADJUDICATE THE DISPUTE
957		-	AND NOTIFY THE DEPARTMENT OF THE RESOLUTION
958		-	.
959		-	(III) N
960		-	OTWITHSTANDING SECTION 39-21-107 (2), IF A QUALIFIED
961		-	ASSET IS DISPOSED OF DURING ANY TAXABLE YEAR DURING THE COMPLIANCE
962		-	PERIOD
963		-	, AND THEREAFTER THE ASSET IS NOT A QUALIFIED ASSET :
964		-	(A) T
965		-	HE QUALIFIED APPLICANT SHALL ADD THE FULL AMOUNT OF THE
966		-	TAX CREDIT TO ITS RETURN AS A RECAPTURED TAX CREDIT FOR THE TAXABLE
967		-	PAGE 20-HOUSE BILL 24-1365 YEAR IN WHICH THE TAX CREDIT IS DISALLOWED PURSUANT TO THIS
968		-	SUBSECTION
969		-	(11) NOTWITHSTANDING THE DISPOSITION OF THE QUALIFIED
970		-	ASSET
971		-	;
972		-	(B) T
973		-	HE STATUTORY PERIOD FOR THE ASSESSMENT OF ANY
974		-	DEFICIENCY WITH RESPECT TO THE DISALLOWED TAX CREDIT MUST NOT
975		-	EXPIRE BEFORE THE EXPIRATION OF THREE YEARS FROM THE DATE THE
976		-	OFFICE IS NOTIFIED
977		-	, IN SUCH A MANNER AS THE OFFICE DETERMINES , THAT
978		-	THE STRUCTURE IS NOT A QUALIFIED ASSET
979		-	; AND
980		-	(C) THE DEPARTMENT SHALL ASSESS ANY DEFICIENCY BEFORE THE
981		-	EXPIRATION OF SUCH THREE
982		-	-YEAR PERIOD TOGETHER WITH ANY APPLICABLE
983		-	INTEREST AND PENALTY IMPOSED PURSUANT TO THIS ARTICLE
984		-	22.
985		-	(d) A
986		-	S USED IN THIS SUBSECTION (11), UNLESS THE CONTEXT
987		-	OTHERWISE REQUIRES
988		-	, "COMPLIANCE PERIOD" MEANS THE PERIOD OF FIFTEEN
989		-	YEARS FOLLOWING THE TAXABLE YEAR IN WHICH THE QUALIFIED APPLICANT
990		-	PLACED THE QUALIFIED ASSET IN SERVICE
991		-	.
992		-	(12) Reporting. (a) N
993		-	O LATER THAN DECEMBER 31, 2025, AND,
994		-	NOTWITHSTANDING THE REQUIREMENT IN SECTION 24-1-136 (11)(a)(I), NO
995		-	LATER THAN
996		-	DECEMBER 31 OF EACH YEAR THEREAFTER THROUGH 2033, THE
997		-	OFFICE SHALL PROVIDE A WRITTEN REPORT TO THE GENERAL ASSEMBLY AND
998		-	SHALL FURTHER MAKE THE REPORT AVAILABLE TO THE PUBLIC
999		-	. IN
1000		-	CONNECTION WITH TAX CREDITS ISSUED PURSUANT TO THIS SECTION
1001		-	, THE
1002		-	REPORT MUST INCLUDE
1003		-	:
1004		-	(I) T
1005		-	HE NUMBER OF QUALIFIED ASSETS PLACED IN SERVICE ;
1006		-	(II) A
1007		-	DESCRIPTION OF THE USE OR USES OF EACH QUALIFIED ASSET
1008		-	AND A STATEWIDE SUMMARY OF THE NUMBER OF QUALIFIED ASSETS FOR
1009		-	EACH USE
1010		-	; AND
1011		-	(III) THE AMOUNT OF ANY DISALLOWED TAX CREDIT RECAPTURED
1012		-	PURSUANT TO SUBSECTION
1013		-	(11) OF THIS SECTION.
1014		-	(b) T
1015		-	HE OFFICE SHALL, IN A SUFFICIENTLY TIMELY MANNER TO
1016		-	ALLOW THE DEPARTMENT TO PROCESS RETURNS CLAIMING THE INCOME TAX
1017		-	CREDIT ALLOWED IN THIS SECTION
1018		-	, PROVIDE THE DEPARTMENT WITH AN
1019		-	ELECTRONIC REPORT OF EACH QUALIFIED APPLICANT TO WHICH THE OFFICE
1020		-	PAGE 21-HOUSE BILL 24-1365 ISSUES A TAX CREDIT CERTIFICATE FOR THE PRECEDING TAX YEAR THAT
1021		-	INCLUDES THE FOLLOWING INFORMATION
1022		-	:
1023		-	(I) T
1024		-	HE QUALIFIED APPLICANT'S NAME;
1025		-	(II) T
1026		-	HE AMOUNT OF THE TAX CREDIT; AND
1027		-	(III) THE QUALIFIED APPLICANT'S SOCIAL SECURITY NUMBER OR THE
1028		-	QUALIFIED APPLICANT
1029		-	'S COLORADO ACCOUNT NUMBER AND FEDERAL
1030		-	EMPLOYER IDENTIFICATION NUMBER
1031		-	.
1032		-	(c) T
1033		-	HE OFFICE, THE OFFICE OF THE STATE AUDITOR, OR THE OFFICE
1034		-	OF THE STATE CONTROLLER MAY REVIEW THE QUALIFIED APPLICANT
1035		-	'S
1036		-	FINANCES
1037		-	, EXPENSES, EQUIPMENT, EMPLOYMENT , AND TRAINING
1038		-	DOCUMENTATION RELATING TO A QUALIFIED INVESTMENT IN A QUALIFIED
1039		-	ASSET
1040		-	.
1041		-	(13) Policies and procedures. (a) T
1042		-	HE OFFICE MAY CREATE AND
1043		-	MODIFY POLICIES
1044		-	, PROCEDURES, AND GUIDELINES AS NECESSARY TO
1045		-	FURTHER ADMINISTER THE TAX CREDITS ALLOWED PURSUANT TO THIS
1046		-	SECTION AND SHALL SOLICIT ADVICE FROM THE DEPARTMENT IN CREATING
1047		-	AND MODIFYING SUCH POLICIES
1048		-	, PROCEDURES, AND GUIDELINES.
1049		-	(b) T
1050		-	HE OFFICE SHALL DEVELOP STANDARDS FOR D ETERMINING
1051		-	WHICH INDUSTRIES ARE INCLUDED AS A QUALIFIED INDUSTRY FOR WHICH A
1052		-	TAX CREDIT UNDER THIS SECTION IS ALLOWED TO A QUALIFIED APPLICANT
1053		-	.
1054		-	(c) A
1055		-	NY STANDARDS DEVELOPED BY THE OFFICE PURSUANT TO THIS
1056		-	SUBSECTION
1057		-	(13) MUST BE POSTED ON THE OFFICE'S WEBSITE. THE OFFICE
1058		-	MAY ANNUALLY REVIEW AND UPDATE AS NECESSARY STANDARDS
1059		-	DEVELOPED PURSUANT TO THIS SUBSECTION
1060		-	(13).
1061		-	(d) T
1062		-	HE OFFICE SHALL DETERMINE THE ANNUAL APPLICATION
1063		-	PERIOD
1064		-	.
1065		-	(14) Workforce development tax credit program cash fund.
1066		-	(a) T
1067		-	HE WORKFORCE DEVELOPMENT TAX CREDIT PROGRAM CASH FUND IS
1068		-	CREATED IN THE STATE TREASURY
1069		-	. THE FUND CONSISTS OF GIFTS, GRANTS,
1070		-	DONATIONS, AND FEE REVENUE CREDITED TO THE FUND PURSUANT TO
1071		-	SUBSECTION
1072		-	(6) OF THIS SECTION AND ANY OTHER MONEY THAT THE
1073		-	PAGE 22-HOUSE BILL 24-1365 GENERAL ASSEMBLY MAY APPROPRIATE , TRANSFER, OR REQUIRE BY LAW TO
1074		-	BE CREDITED TO THE FUND
1075		-	.
1076		-	(b) T
1077		-	HE STATE TREASURER SHALL CREDIT ALL INTEREST AND INCOME
1078		-	DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY IN THE
1079		-	WORKFORCE DEVELOPMENT TAX CREDIT PROGRAM CASH FUND TO THE FUND
1080		-	.
1081		-	(c) M
1082		-	ONEY IN THE FUND IS CONTINUOUSLY APPROPRIATED TO THE
1083		-	OFFICE FOR THE PURPOSE OF ADMINISTERING THE TAX CREDIT ISSUED
1084		-	PURSUANT TO THIS SECTION
1085		-	.
1086		-	(d) T
1087		-	HE STATE TREASURER SHALL TRANSFER ALL UNEXPENDED AND
1088		-	UNENCUMBERED MONEY IN THE FUND ON
1089		-	DECEMBER 31, 2050, TO THE
1090		-	GENERAL FUND
1091		-	.
1092		-	(15) Repeal. T
1093		-	HIS SECTION IS REPEALED, EFFECTIVE DECEMBER 31,
1094		-	2050.
1095		-	SECTION 8. In Colorado Revised Statutes, 24-75-402, add
1096		-	(5)(ggg) as follows:
1097		-	24-75-402. Cash funds - limit on uncommitted reserves -
1098		-	reduction in the amount of fees - exclusions - definitions.
1099		-	(5) Notwithstanding any provision of this section to the contrary, the
1100		-	following cash funds are excluded from the limitations specified in this
1101		-	section:
1102		-	(ggg) T
1103		-	HE WORKFORCE DEVELOPMENT TAX CREDIT PROGRAM CASH
1104		-	FUND CREATED IN SECTION
1105		-	39-22-565 (14).
1106		-	SECTION 9. In Colorado Revised Statutes, 39-22-601, amend
1107		-	(7)(b) as follows:
1108		-	39-22-601. Returns - repeal. (7) (b) The executive director may
1109		-	require a person or organization
1110		-	NOT SUBJECT TO TAX UNDER THIS ARTICLE
1111		-	22 OR A PERSON OR ORGANIZATION exempt from taxes pursuant to section
1112		-	39-22-112 to make and file a return containing such information as the
1113		-	executive director may prescribe to claim a credit allowed under this article
1114		-	22 even if the person or organization does not have unrelated business
1115		-	income.
1116		-	PAGE 23-HOUSE BILL 24-1365 SECTION 10. Appropriation. For the 2024-25 state fiscal year,
1117		-	$109,603 is appropriated to the office of the governor for use by the
1118		-	economic development programs. This appropriation is from the general
1119		-	fund and is based on an assumption that the office will require an additional
1120		-	0.8 FTE. To implement this act, the office may use this appropriation for
1121		-	opportunity now grant administration.
1122		-	SECTION 11. Act subject to petition - effective date. This act
1123		-	takes effect at 12:01 a.m. on the day following the expiration of the
1124		-	ninety-day period after final adjournment of the general assembly; except
1125		-	that, if a referendum petition is filed pursuant to section 1 (3) of article V
1126		-	of the state constitution against this act or an item, section, or part of this act
1127		-	within such period, then the act, item, section, or part will not take effect
1128		-	unless approved by the people at the general election to be held in
1129		-	PAGE 24-HOUSE BILL 24-1365 November 2024 and, in such case, will take effect on the date of the official
1130		-	declaration of the vote thereon by the governor.
1131		-	____________________________ ____________________________
1132		-	Julie McCluskie Steve Fenberg
1133		-	SPEAKER OF THE HOUSE PRESIDENT OF
1134		-	OF REPRESENTATIVES THE SENATE
1135		-	___________________________ ____________________________
1136		-	Robin Jones Cindi L. Markwell
1137		-	CHIEF CLERK OF THE HOUSE SECRETARY OF
1138		-	OF REPRESENTATIVES THE SENATE
1139		-	APPROVED________________________________________
1140		-	(Date and Time)
1141		-	_________________________________________
1142		-	Jared S. Polis
1143		-	GOVERNOR OF THE STATE OF COLORADO
1144		-	PAGE 25-HOUSE BILL 24-1365
	979	+	HE OFFICE SHALL DETERMINE THE ANNUAL APPLICATION22
	980	+	PERIOD.23
	981	+	(14) Workforce development tax credit program cash fund.24
	982	+	(a) THE WORKFORCE DEVELOPMENT TAX CREDIT PROGRAM CASH FUND IS25
	983	+	CREATED IN THE STATE TREASURY. THE FUND CONSISTS OF GIFTS, GRANTS,26
	984	+	DONATIONS, AND FEE REVENUE CREDITED TO THE FUND PURSUANT TO27
	985	+	1365
	986	+	-28- SUBSECTION (6) OF THIS SECTION AND ANY OTHER MONEY THAT THE1
	987	+	GENERAL ASSEMBLY MAY APPROPRIATE, TRANSFER, OR REQUIRE BY LAW2
	988	+	TO BE CREDITED TO THE FUND.3
	989	+	(b) THE STATE TREASURER SHALL CREDIT ALL INTEREST AND4
	990	+	INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY IN THE5
	991	+	WORKFORCE DEVELOPMENT TAX CREDIT PROGRAM CASH FUND TO THE6
	992	+	FUND.7
	993	+	(c) MONEY IN THE FUND IS CONTINUOUSLY APPROPRIATED TO THE8
	994	+	OFFICE FOR THE PURPOSE OF ADMINISTERING THE TAX CREDIT ISSUED9
	995	+	PURSUANT TO THIS SECTION.10
	996	+	(d) THE STATE TREASURER SHALL TRANSFER ALL UNEXPENDED11
	997	+	AND UNENCUMBERED MONEY IN THE FUND ON DECEMBER 31, 2050, TO12
	998	+	THE GENERAL FUND.13
	999	+	(15) Repeal. T HIS SECTION IS REPEALED, EFFECTIVE DECEMBER14
	1000	+	31,
	1001	+	2050.15SECTION 8. In Colorado Revised Statutes, 24-75-402, add16
	1002	+	(5)(eee) as follows:17
	1003	+	24-75-402. Cash funds - limit on uncommitted reserves -18
	1004	+	reduction in the amount of fees - exclusions - definitions.19
	1005	+	(5) Notwithstanding any provision of this section to the contrary, the20
	1006	+	following cash funds are excluded from the limitations specified in this21
	1007	+	section:22
	1008	+	(eee) THE WORKFORCE DEVELOPMENT TAX CREDIT PROGRAM CASH23
	1009	+	FUND CREATED IN SECTION 39-22-560 (14).24
	1010	+	SECTION 9. In Colorado Revised Statutes, 39-22-601, amend25
	1011	+	(7)(b) as follows:26
	1012	+	39-22-601. Returns - repeal. (7) (b) The executive director may27
	1013	+	1365
	1014	+	-29- require a person or organization NOT SUBJECT TO TAX UNDER THIS1
	1015	+	ARTICLE 22 OR A PERSON OR ORGANIZATION exempt from taxes pursuant2
	1016	+	to section 39-22-112 to make and file a return containing such3
	1017	+	information as the executive director may prescribe to claim a credit4
	1018	+	allowed under this article 22 even if the person or organization does not5
	1019	+	have unrelated business income.6
	1020	+	SECTION 10. Appropriation. For the 2024-25 state fiscal year,7
	1021	+	$109,603 is appropriated to the office of the governor for use by the8
	1022	+	economic development programs. This appropriation is from the general9
	1023	+	fund and is based on an assumption that the office will require an10
	1024	+	additional 0.8 FTE. To implement this act, the office may use this11
	1025	+	appropriation for opportunity now grant administration.12
	1026	+	SECTION 11. Act subject to petition - effective date. This act13
	1027	+	takes effect at 12:01 a.m. on the day following the expiration of the14
	1028	+	ninety-day period after final adjournment of the general assembly; except15
	1029	+	that, if a referendum petition is filed pursuant to section 1 (3) of article V16
	1030	+	of the state constitution against this act or an item, section, or part of this17
	1031	+	act within such period, then the act, item, section, or part will not take18
	1032	+	effect unless approved by the people at the general election to be held in19
	1033	+	November 2024 and, in such case, will take effect on the date of the20
	1034	+	official declaration of the vote thereon by the governor.21
	1035	+	1365
	1036	+	-30-