HB 11-1238 Summary

• Requires businesses receiving state assistance of $10,000 or more annually to obtain a prequalification letter from the Office of Economic Development certifying they meet job quality standards

• Job quality standards include wages at least 25% above county averages, health benefits for all employees, at least 50% permanent full-time positions, 60% of jobs filled by Colorado residents or unemployed persons, and paid sick leave policies

• Businesses must maintain standards for minimum 5 years after receiving assistance and file annual progress reports detailing employment numbers, wages, benefits, and job retention rates

• Office of Economic Development must post annual disclosure on website by January 31 of each year identifying all businesses that received assistance in the previous calendar year

• Non-compliant businesses may have all or part of assistance recaptured by the state, with recapture details posted publicly within 30 days