CO HB1010

Creates the Nonessential Small Business Pandemic Grant Program administered by the Colorado Office of Economic Development to provide grants of up to 50% of lost revenue to businesses ordered to shut down due to COVID-19.

Defines eligible small businesses as for-profit enterprises with fewer than 50 full-time equivalent employees that have not filed Chapter 7 bankruptcy, were shut down or had operating restrictions due to COVID-19 within 90 days of application, and lost revenue from pandemic-related orders or rules.

Allows grant recipients to use funds for any reasonable business expense to remain solvent and requires applicants to document pre-pandemic revenue, post-restriction revenue, and other information specified by rule.

Requires grant recipients to submit reports 60-90 days after receiving funds detailing grant amounts spent and accounting categories used; mandates the office submit a summary report to legislative committees and the governor by January 1, 2022.

Program is funded by general fund appropriation for the 2020-21 fiscal year with unused funds rolling forward to 2021-22, and the program automatically repeals September 1, 2022.