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SB23-209

Remove Erroneous Date From CLIMBER Act

Concerning removal of the date restriction in the definition of "eligible borrower" used to determine a business's eligibility for a small business recovery loan under the "CLIMBER Act".
Session:
2023 Regular Session
Subjects:
Business & Economic Development
State Government
Bill Summary

The "Colorado Loans for Increasing Main Street Business Economic Recovery Act" (CLIMBER Act) provides small business recovery loans to Colorado businesses affected by the COVID-19 pandemic. In 2022, the general assembly amended the CLIMBER Act by requiring that the determination as to whether a business has sufficient financial viability to be an "eligible borrower" be based on the business's current financial condition rather than, as had been the case, the business's financial condition as of February 29, 2020, but in doing so failed to delete all the obsolete statutory references to "February 29, 2020". The act corrects that omission by deleting the remaining obsolete reference to "February 29, 2020,".

APPROVED by Governor May 24, 2023

EFFECTIVE August 7, 2023

NOTE: This act was passed without a safety clause and takes effect 90 days after sine die.
(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    05/24/2023 Signed Act PDF
    05/10/2023 Final Act PDF
    05/06/2023 Rerevised PDF
    05/03/2023 Revised PDF
    04/10/2023 Reengrossed PDF
    04/06/2023 Engrossed PDF
    03/20/2023 Introduced PDF

Sponsors

Sponsor Type Legislators
Prime Sponsor

Sen. J. Ginal, Sen. J. Rich
Rep. N. Ricks, Rep. R. Taggart

Sponsor

Co-sponsor

Sen. J. Bridges, Sen. J. Buckner, Sen. J. Coleman, Sen. L. Cutter, Sen. T. Exum, Sen. J. Marchman, Sen. K. Priola, Sen. F. Winter, Sen. R. Zenzinger
Rep. J. Bacon, Rep. S. Bird, Rep. M. Duran, Rep. R. English, Rep. W. Lindstedt, Rep. M. Snyder, Rep. B. Titone