Colorado § 30-11-126 - Workforce development - incentives - limitations - authority to exceed revenue-raising limitations - legislative declaration - definitions.

§ 30-11-126. Workforce development - incentives - limitations - authority to exceed revenue-raising limitations - legislative declaration - definitions.

(1) (a) The general assembly hereby finds and declares that:

(I) The health, safety, and welfare of the people of Colorado as well as the economic development and growth of local communities in the state depend on the development of a workforce that meets the needs of employers in the state;

(II) Financial incentives are often necessary to attract resources for workforce development, and such incentives can be particularly effective when offered at the local level; and

(III) Providing such incentives stimulates economic development in the state and results in the creation and maintenance of new jobs.

(b) The general assembly further finds and declares that it is in the best interests of the citizens of the state and the economic development of local governments within the state to create an incentive at the county level for taxpayers to contribute to a program that allows counties to provide financial assistance to county residents to pursue post-secondary education or training.

(2) For purposes of this section, "county" means any county or city and county.

(3) Any county may establish a workforce development program, to be known as "bright future Colorado", to provide financial assistance to county residents who pursue post-secondary education or training from an accredited institution of higher education or certified training program. A county workforce development program may include, but need not be limited to, county residents who are high school graduates, county residents who have successfully completed a high school equivalency examination, as defined in section 22-33-102 (8.5), C.R.S., or county residents who are veterans. Any county that establishes a workforce development program may also establish a workforce development fund to accept contributions for the purpose of the program.

(4) (a) Notwithstanding any law to the contrary, a county that has established a workforce development program may offer an incentive, in the form of a county property tax credit or rebate, to a residential or commercial property owner in the county who contributes to a county workforce development fund.

(b) A county shall not make any appropriation in furtherance of a workforce development program or give any credit or rebate pursuant to this section unless the board of county commissioners approves the total program amount annually at a public budget hearing.

Source: L. 2015: Entire section added, (SB 15-082), ch. 11, p. 25, § 1, effective August 5.