CO HB1112

Creates the Economic Impact Rating System Advisory Board in the Colorado Office of Economic Development consisting of 11 voting members appointed by the governor with specific qualifications and 5 ex officio nonvoting members from state departments.

Advisory board analyzes feasibility of establishing an economic impact rating system that measures companies' economic impact in Colorado, with annual reporting to legislative committees on system status.

If feasible, the office develops an online-accessible system allowing companies to input information about their operations and state connections to generate a state economic impact rating.

Once operational, state purchasing directors and agency heads must use the state economic impact rating as an evaluation factor in determining which proposal is most advantageous to the state in competitive sealed proposal processes.

Funding comes exclusively from a newly created economic impact rating system cash fund supported by gifts, grants, or donations, with the advisory board scheduled for repeal on July 1, 2016.