CO HB1157

Creates an economic development working group for highly distressed rural and urban regions of Colorado, consisting of 4 legislative members (2 rural, 2 urban representatives), the Colorado Office of Economic Development executive director, and 4 nonvoting expert members appointed by June 16, 2015.

Working group must select data by July 10, 2015 that is timely and reflective of current economic reality to identify highly distressed regions, then establish and post region names and boundaries on the office website.

Requires the working group to evaluate existing economic development efforts and best practices in distressed regions, and to discuss possibility of creating tax-free zones or other economic development tools.

Working group must submit detailed legislative recommendations to the General Assembly by October 1, 2015, including identified distressed regions and recommended economic development tools to improve regional economic vitality.

Appropriates $20,000 to the Colorado Office of Economic Development for administrative costs and $5,000 to the legislative department for compensation of legislative members; the working group automatically repeals effective January 1, 2016.