Skip to main content
Find a Lawyer

Colorado Revised Statutes Title 10. Insurance § 10-3.5-102. Legislative declaration

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) The primary purpose of the “Certified Capital Company Act” is to provide assistance in the formation of new businesses and the expansion of existing businesses that create jobs in the state by providing an incentive for insurance companies to invest in certified capital companies.

(2) The general assembly hereby:

(a) Finds that the legislative audit committee of the general assembly has evaluated the implementation of the “Certified Capital Company Act” pursuant to Senate Joint Resolution 03-050, enacted at the first regular session of the sixty-fourth general assembly;

(b) Determines that the allocation of premium tax credits under the “Certified Capital Company Act” that was to be made after January 31, 2004, has been repealed and reallocated pursuant to the provisions of Senate Bill 04-106 and House Bill 04-1206, enacted at the second regular session of the sixty-fourth general assembly, which leaves only those premium tax credits allocated before January 31, 2004, remaining subject to the “Certified Capital Company Act”; and

(c) Declares that:

(I) The “Certified Capital Company Act” should be modified to more efficiently and effectively achieve the purposes for which it was enacted, in particular by amending the method by which the office of economic development calculates certified capital companies' internal rate of return to address ambiguities and weaknesses in current law; and

(II) Those purposes are best served by prospectively amending the “Certified Capital Company Act” pursuant to Senate Bill 04-247 and House Bill 04-1190, enacted at the second regular session of the sixty-fourth general assembly. No provision of this article shall be construed to retrospectively modify any existing statutory, regulatory, or contractual obligation.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Colorado Revised Statutes Title 10. Insurance § 10-3.5-102. Legislative declaration - last updated January 01, 2025 | https://codes.findlaw.com/co/title-10-insurance/co-rev-st-sect-10-3-5-102/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard