HB15-1320

HB15-1320 - Agricultural Market Development Grants

Postponed Indefinitely
Concerning A Program For Funding The Development Of Agricultural Businesses, And, In Connection Therewith, Making An Appropriation.

The bill creates an agricultural grant and reimbursement program within the department of agriculture. The Colorado agricultural value-added development board will oversee the program. The following grants and requirements are established:

To be eligible for a proof-of-concept and feasibility study grant, the applicant must:

  • Submit a description of the project;
  • Provide an analysis of the potential economic increase or competitive advantage for Colorado agriculture; and
  • Have a dedicated source of funding that is at least 25% of the amount of the requested grant.

To be eligible for an early-stage capital and business expansion grant, an applicant must:

  • Be headquartered in Colorado, have at least 50% of the applicant's employees residing in Colorado, or indicate that Colorado's agricultural industry will be the primary beneficiary of the project;
  • Submit a description outlining the need for capital;
  • Provide an analysis indicating that the project could enhance the commercialization of an agricultural product or service within Colorado; and
  • Have a dedicated source of funding that is at least 200% of the amount of the requested grant.

To be eligible for a reimbursement of market development and promotion expenses, the applicant must:

  • Employ fewer than 100 employees;
  • Be headquartered in Colorado, have at least 50% of the applicant's employees residing in Colorado, or indicate that Colorado's agricultural industry will be the primary beneficiary of the project;
  • Have a product that is market-ready;
  • Have a dedicated source of funding that is at least 50% of the amount of the requested grant; and
  • Have reimbursable project and expenses authorized by the board before the applicant incurs the expense.

The bill sets basic requirements for the programs and authorizes the board to establish administration policies. Funding limits are placed on each grant or reimbursement.

The bill also authorizes the board to fund promotional programs for Colorado agriculture.

An appropriation is made to implement the bill.

Latest update: May 4, 2015
05/04/2015 Senate Committee on Agriculture, Natural Resources, & Energy Postpone Indefinitely
05/01/2015 Introduced In Senate - Assigned to Agriculture, Natural Resources, & Energy + Appropriations
05/01/2015 House Third Reading Passed - No Amendments
04/30/2015 House Second Reading Special Order - Passed with Amendments - Committee
04/30/2015 House Committee on Appropriations Refer Amended to House Committee of the Whole
04/13/2015 House Committee on Agriculture, Livestock, & Natural Resources Refer Amended to Appropriations
04/06/2015 House Committee on Agriculture, Livestock, & Natural Resources Witness Testimony and/or Committee Discussion Only
03/30/2015 Introduced In House - Assigned to Agriculture, Livestock, & Natural Resources

3rd Reading Vote Summary - HB15-1320*

House Vote Summary - May 01, 2015
YesNoExcusedAbsent
343010
Senate Vote Summary
No Voting Information Found
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