HB15-1096: Small Business Definition

• Adds a general definition of "small business" to Colorado law (C.R.S. 2-4-401) that applies when no more specific definition exists in statutes

• Defines a small business as a business with fewer than 50 employees and $5 million or less in annual gross revenue

• Exempts state programs from using this definition when state entities must use different definitions or apply different eligibility standards due to conditions on public or private moneys

• Takes effect August 5, 2015, or 90 days after final adjournment of the general assembly, subject to referendum petition