SB17-022

SB17-022 - Rural Economic Advancement Of Colorado Towns

Postponed Indefinitely
Concerning the coordination of economic assistance for rural communities experiencing certain significant economic events that have led to substantial job loss in those communities, and, in connection therewith, authorizing the department of local affairs to coordinate nonmonetary assistance and award grant money to assist rural communities with job creation or retention.

The bill authorizes the executive director of the department of local affairs (department) or the executive director's designee to coordinate the provision of nonmonetary resources to assist with job retention or creation in a rural community experiencing a significant economic event, such as a plant closure or layoffs, including industry-wide layoffs, that has a significant, quantifiable impact on jobs within that community.

The bill also authorizes the executive director of the department or the executive director's designee to award money to qualifying rural communities experiencing a significant economic event and creates the rural economic advancement of Colorado towns fund (fund), to be administered by the executive director of the department for grant-making purposes over the next 3 years. For the 2017-18, 2018-19, and 2019-20 state fiscal years, $500,000 is transferred each year from the general fund to the fund and the money in the fund is continuously appropriated to the department.

(Note: This summary applies to this bill as introduced.)

 

Senate Committees

Latest update: February 14, 2017
02/14/2017 - Senate Committee on Finance Postpone Indefinitely
01/11/2017 - Introduced In Senate - Assigned to Finance