CO SB032

Creates the economic development working group for highly distressed urban regions of Colorado, consisting of nine members including four state legislators, the executive director of the Colorado office of economic development, and four additional members appointed for expertise in county, municipal, and economic development issues.

Working group must select appropriate, timely data that reflects current economic reality to identify highly distressed urban regions and establish their names and boundaries by October 5, 2016.

Requires the working group to evaluate existing economic development efforts and best practices in identified regions and assess the feasibility of creating tax-free zones or other economic development tools.

Working group must deliver detailed legislative recommendations to the general assembly by December 14, 2016, including a process for regularly updating the identified regions, in order to improve economic vitality.

Section repeals effective January 1, 2017; legislative members receive compensation up to $5,000 total for attendance and expenses, while nonlegislative members serve without additional compensation.