HB 13-1002 Summary

• The Colorado Office of Economic Development shall expend $200,000 each year for fiscal years 2013-14, 2014-15, and 2015-16 to support small business development centers.

• The State Director of Small Business Development Centers must equitably distribute remaining funds to each small business development center in the state after deducting 10-15 percent annually for awareness campaigns.

• The Colorado Office of Economic Development must submit reports to the Senate Business, Labor, and Technology Committee and the House Business, Labor, and Economic and Workforce Development Committee by January 15 of 2014, 2015, and 2016 detailing disbursements and jobs created.

• The appropriated moneys are intended to supplement, not replace, any other existing appropriations to the Colorado Office of Economic Development.

• The statute automatically repeals effective July 1, 2016.