- District 64
The justice reinvestment crime prevention initiative (initiative), administered by the Colorado department of local affairs in the division of local government (department), incorporates programs that expand small business lending and provide grants aimed at reducing crime and promoting community development in certain target communities. Effective October 1, 2021, the bill: Expands the initiative to a statewide program; and Adds a small business grant program for formerly incarcerated persons (program) to the initiative. The bill requires the department to work with the Colorado department of corrections and the Colorado office of economic development in developing and implementing the program. The program shall include: A training program in business, finance, and entrepreneurship for formerly incarcerated persons; A small business grant for formerly incarcerated persons who have completed the training program and are selected by the department through a rigorous application process; and An ongoing consulting program in business, finance, and entrepreneurship for the selected grant recipients. Selected grant recipients are eligible for the consulting program for at least one year from selection. The grants are funded from the general fund and are limited to no more than $50,000 per selected grant recipient per year. (Note: This summary applies to this bill as introduced.)
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|Fiscal Note FN1 (03/31/2021)|
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