Remove Erroneous Date From CLIMBER Act

The "Colorado Loans for Increasing Main Street Business Economic Recovery Act" (CLIMBER Act) provides small business recovery loans to Colorado businesses affected by the COVID-19 pandemic. In 2022, the general assembly amended the CLIMBER Act by requiring that the determination as to whether a business has sufficient financial viability to be an "eligible borrower" be based on the business's current financial condition rather than, as had been the case, the business's financial condition as of February 29, 2020, but in doing so failed to delete all the obsolete statutory references to "February 29, 2020". The act corrects that omission by deleting the remaining obsolete reference to "February 29, 2020,".

APPROVED by Governor May 24, 2023

EFFECTIVE August 7, 2023

NOTE: This act was passed without a safety clause and takes effect 90 days after sine die.
(Note: This summary applies to this bill as enacted.)