(1) The general assembly hereby finds and declares:
That the health, safety, and welfare of the people of this state are dependent upon thecontinued encouragement, development, and expansion of opportunities for employment in the private sector in this state;
That there currently exist in this state both rural and urban areas which require newemployment opportunities to overcome conditions of unemployment, underemployment, net outmigration of the population, chronic economic distress, deterioration of main street business districts, or sudden and severe economic dislocations and that such conditions may well exist, from time to time, in other areas of the state; and
That some rural counties in this state continue to have difficulty in promoting economic growth despite the existence of enterprise zones and their associated tax credits.
It is, therefore, declared to be the policy of the state, in order to provide incentivesfor private enterprise to expand and for new businesses to locate in such economically depressed areas and to provide more job opportunities for residents of such areas, to establish a pilot program for tax incentives and other assistance for enterprises in designated areas to be known as enterprise zones.
(a) It is the intent of the general assembly that state agencies, including but not limited to the division of local government in the department of local affairs, the department of labor and employment, the department of revenue, the state board for community colleges and occupational education in the department of higher education, and the Colorado office of economic development created in the office of the governor, place special emphasis on providing assistance to designated enterprise zones.
(b) It is further declared to be the intent of the general assembly that areas so designated also be eligible to apply for designation under federal enterprise zone legislation that may be enacted.
Source: L. 86: Entire article added, p. 1139, § 1, effective July 1. L. 97: (3)(a) amended, p. 527, § 11, effective July 1. L. 2002: (1)(c) added, p. 1103, § 1, effective August 7. L. 2008:
(3)(a) amended, p. 216, § 1, effective March 26.