SB 17-022 Summary

• Creates the Rural Economic Advancement of Colorado Towns (REACT) Act to assist rural communities experiencing significant economic events such as plant closures or layoffs that result in substantial job losses.

• Authorizes the Department of Local Affairs to coordinate nonmonetary assistance (job training, technical assistance, workforce development) from various state agencies for qualifying rural communities.

• Establishes the Rural Economic Advancement of Colorado Towns Fund and provides $500,000 annually for fiscal years 2017-18, 2018-19, and 2019-20 to award grants to rural communities for economic development and revitalization projects.

• Defines "rural" as counties with fewer than 50,000 people or municipalities with fewer than 20,000 people not contiguous to larger municipalities; allows the executive director to modify this definition by rule.

• Sunsets on July 1, 2020, and is subject to voter approval if a referendum petition is filed within 90 days after the legislative session ends.