Colorado Life Science Legislative Activity

The Colorado BioScience Association, Tomlinson Associates, and friends have been busy helping to lobby for a series of new bills that would positively impact the Colorado bio-landscape. I have previously mentioned one of the bills here, and identify all of the legislation below:

HB06-1308

House Sponsor – Massey, Borodkin, Jahn, Penry, White
Senate Sponsor – John Evans

The bill creates the Bioscience Net Operating Loss Purchase Cash Fund to be used by theEconomic Development Commission (EDC) to effectively purchase future tax benefits from qualifying bioscience companies. The bill allows the state to provide assistance to select bioscience companies in exchange for the company foregoing the carry-forward of net operating losses. The EDC would be appropriated at least $2.5 million annually for the next five fiscal years for this purpose and associated administrative costs.

HB06-1360

House Sponsor – James Riesberg
Senate Sponsor – Ron Tupa

This bill creates the Bioscience Discovery Evaluation Grant Program to improve and expand the evaluation of new bioscience discoveries at research institutions with the intent of accelerating the development of new products and services. Administration of the grant program would be provided by the Office of Economic Development (OED) in the Governor's office in consultation with a Colorado bioscience membership organization. The bill establishes a grant application process for grants of up to $150,000 per bioscience research project.

HB06-1361

House Sponsor – Gwyn Green
Senate Sponsor – Brandon Shafer

This bill creates the Colorado Bioscience Research Program to enhance the access of bioscience companies to research infrastructure at research institutions. This would be accomplished by offering research incentives to offset the indirect costs associated with research services performed by research institutions. Administration of the program would be provided by the Office of Economic Development (OED) in the Governor's office in consultation with a Colorado bioscience membership organization. The bill establishes a process by which a company may request an incentive, and establishes eligibility criteria for the incentives. Each research incentive awarded may not exceed the lessor of the indirect costs associated with the research project, or $20,000 per project. A bioscience company may not receive research incentives totaling more than $40,000 within any 12-month period.