SB 23-137

Senate Bill 23-137 requires the state treasurer to move $5 million from Colorado's general fund to the Colorado Economic Development Fund. This money will be used by the Colorado Office of Economic Development to support projects related to the federal CHIPS and Science Act of 2022, which aims to boost semiconductor manufacturing and research in the U.S. The bill also mandates that the office report annually on how this funding is being spent. Governor Jared Polis signed the bill into law on March 6, 2023, making it effective immediately on that date.

Official Summary

The act requires the state treasurer to transfer $5 million from the general fund to the Colorado economic development fund and requires the Colorado office of economic development (office) to use the transferred money in connection with the federal "Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act of 2022". The act also requires the office to submit an annual report to the joint budget committee detailing how the office is expending the transferred money. APPROVED by Governor March 6, 2023 EFFECTIVE March 6, 2023 (Note: This summary applies to this bill as enacted.)

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