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February 1, 2024

Lukens’ Bipartisan Bill to Boost Rural Economies Clears Committee

DENVER, CO –  The House Business Affairs & Labor Committee today passed legislation to create jobs and boost rural economies. HB24-1001, sponsored by Representative Meghan Lukens, will extend the Rural Jump-start Program until 2031.                      

“Rural economies are driven by local business, and this bill will help ease economic barriers for new small businesses and create jobs in rural Colorado,” said Rep. Meghan Lukens, D-Steamboat Springs. “For Coloradans on the Western Slope, small businesses serve as a hub for community and a cornerstone for our rural economies. This bipartisan bill continues the successful Rural Jump-start Program, which offers small businesses grants and tax credits to grow, hire, and retain workers. Investing in rural Colorado is critical for our communities and makes our state stronger.”

HB24-1001, also sponsored by Representative Rick Taggart, R-Grand Junction, passed committee unanimously. This bill aims to extend income tax credits and grants available to businesses and their employees that participate in the Colorado Rural Jump-start Zone Program and Grant Program. Under this bill, the Grant Program would extend through June 2026 and the Jump-start Zone Program, which includes the business tax incentives, would extend through 2031. 

These successful programs are designed to reduce the costs of starting a new business or hiring new employees in rural economic jump-start zones. HB24-1001 would play a crucial role in boosting rural economies, supporting small businesses, and creating new jobs in all four corners of the state.

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