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Bill Detail: SB21-204

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Title Rural Economic Development Initiative Grant Program Funding
Status Introduced In House - Assigned to Agriculture, Livestock, & Water (05/07/2021)
Bill Subjects
  • Business & Economic Development
House Sponsors M. Young (D)
T. Van Beber (R)
Senate Sponsors B. Rankin (R)
K. Donovan (D)
House Committee Agriculture, Livestock, and Water
Senate Committee Local Government
Date Introduced 03/31/2021
Summary

In 2020, the Colorado general assembly created the rural economic
development initiative (REDI) grant program in the department of local
affairs (department). The department, in consultation with the office of
economic development, may provide grants to a new employer or the
expansion of an existing employer and for projects that create diversity

and resiliency in the local economies of rural communities. Or, if the
department determines that a rural community needs resources or
assistance because it has been impacted by a significant economic event
or an anticipated event that has been announced, the department may use
all or a portion of the money appropriated for the REDI grant program for
the purposes of the Rural Economic Advancement of Colorado Towns
(REACT) Act.
Section 2 of the bill appropriates $5 million to the department for
the REDI grant program. Section 1 ensures that the department will use
all of this appropriation for the purposes of the grants or REACT.

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