CO HB1090

Extends the expiration date of the Advanced Industry Investment Tax Credit from January 1, 2018 to January 1, 2023, allowing qualified investments to be made through the extended deadline.

Modifies the definition of "qualified small business" to include businesses with less than five years of active operation and revenue generation, in addition to the existing annual revenue requirement of less than five million dollars.

Increases the annual tax credit authorization cap to $750,000 per year from 2015 through 2022, with unused credits from prior years rolling forward to subsequent years.

Requires the Colorado Office of Economic Development to submit two reports to the legislature: one on November 1, 2017 covering credits issued since July 1, 2014, and a second on November 1, 2022 covering credits issued after January 1, 2018.

Appropriates $23,062 to the Office of the Governor for use by the Colorado Office of Economic Development for the 2017-18 fiscal year, based on an assumption of 0.3 additional full-time equivalent staff.