HB 24-1396 Summary

• Extends the "Colorado Bioscience and Clean Technology Innovation Reinvestment Act" by eight years, changing the program's repeal date from July 1, 2026 to July 1, 2034.

• Directs the state treasurer to credit one-half of bioscience and clean technology income tax withholding growth to the Advanced Industries Acceleration Cash Fund beginning March 1, 2014, and continuing through 2034.

• Changes the notification requirement from "eleven years thereafter" to "nineteen years thereafter" for the executive director to report withholding base and prior year withholding totals to the state treasurer.

• Takes effect 12:01 a.m. the day after the ninety-day period following final adjournment of the legislature, unless a referendum petition is filed, in which case it requires voter approval at the November 2024 general election.