CO HB1253

OEDIT shall contract with a Colorado-based private organization to conduct a study assessing the availability of capital, capital needs, and barriers to capital access for Colorado small businesses (defined as for-profit enterprises with up to 500 employees).

The study author must survey Colorado small businesses and lenders, collecting data on business size, location, existing capital sources, capital uses, capital needs for the next five years, and impediments to acquiring capital.

The study author shall deliver a final report to the Colorado Economic Development Commission by May 1, 2014, which OEDIT must make available online by June 1, 2014, and incorporate into its November 1, 2014 annual report to the General Assembly.

The report must include findings, conclusions, and recommendations for state and local governments, private industry, and federal agencies on reducing capital constraints, improving credit qualification, increasing available capital, and improving capital access for small businesses.

The General Assembly appropriates $100,000 from the general fund to the Small Business Capital Study Fund created by this bill, with any unexpended funds reverting to the general fund on June 30, 2014; the entire Part 4 of the statute repeals on July 1, 2014.