CO HB1015

Establishes a Colorado state small business paycheck protection loan program administered by the Office of Economic Development to assist eligible small businesses that received federal Paycheck Protection Program loans and continue facing COVID-19 pandemic hardship.

Limits state loans to the lesser of 20% of a business's approved federal PPP loan or $100,000, with eligibility restricted to businesses with fewer than 100 full-time equivalent employees.

Defers all loan payments until the five-year maturity date and allows full loan forgiveness if funds are used solely for payroll costs, mortgage interest, rent, or utilities.

Funds the program with a $10 million appropriation from the General Fund, with up to 0.6% available for administrative costs and any unspent amounts reverting to the General Fund by April 30, 2021.

Requires the Office to submit a report by October 1, 2021 detailing loan distribution numbers, amounts, recipients, and spending, and automatically repeals the section effective September 1, 2026.