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File #: 21-0552    Version: 1
Type: Bill Status: Passed
File created: 5/6/2021 In control: Business, Arts, Workforce, & Aviation Services Committee
On agenda: 6/14/2021 Final action: 6/14/2021
Title: A bill for an ordinance amending sections 53-541 through 53-545 of Chapter 53, Article XVI, "Business Personal Property Tax Credits for New or Expanded Businesses," of the Revised Municipal Code. Amends Section 53-545 of the Denver Revised Municipal Code to extend the Business Investment Program (BIP) an additional 10 years through 2032, extend the possible term for agreements under this code section, and make conforming amendments to reflect changes to Colorado Revised Statutes. The Committee approved filing this item at its meeting on 5-19-21.
Indexes: John Mahoney
Attachments: 1. BR21 0552 DEDO BIP Reauthorization Request, 2. BR21 0552 DEDO BIP Reauthorization Draft Bill, 3. BIP Reauthorization 051421, 4. 21-0552 Filed Bill_ for Ordinance_DRMC 53-541-53-545 and BIP Program_05252021_BLM, 5. 21-0552 Filed Bill_ for Ordinance_DRMC 53-541-53-545 and BIP Program_05252021_BLM, 6. 21-0552 - signed, 7. 21-0552 For an ordinance amending sections 53-541 through 53-545 of Chapter 53,
Other/Miscellaneous Request Template (Appointments; ROW; Code Changes; Zoning Action, etc.)

Date Submitted: 5-6-21

Requesting Agency: Denver Economic Development and Opportunity
Division:

Subject Matter Expert Name:

Name: Susan Liehe 720-480-3481 (m)
Email: susan.liehe@denvergov.org

Item Title & Description:
(Do not delete the following instructions)
These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney's Office should enter the title above the description (the title should be in bold font).

Both the title and description must be entered between the red "title" and "body" below. Do not at any time delete the red "title" or "body" markers from this template.
title
A bill for an ordinance amending sections 53-541 through 53-545 of Chapter 53, Article XVI, "Business Personal Property Tax Credits for New or Expanded Businesses," of the Revised Municipal Code.
Amends Section 53-545 of the Denver Revised Municipal Code to extend the Business Investment Program (BIP) an additional 10 years through 2032, extend the possible term for agreements under this code section, and make conforming amendments to reflect changes to Colorado Revised Statutes. The Committee approved filing this item at its meeting on 5-19-21.
body

Affected Council District(s) or citywide? Citywide

Executive Summary with Rationale and Impact:
Detailed description of the item and why we are doing it. This can be a separate attachment.
Amends Section 53-545 of the Denver Revised Municipal Code regarding the review and sunset of the Business Investment Program (BIP) to extend the program through 2032. By granting eligible Denver businesses an annual tax credit for making certain qualifying investments in business personal property including machinery, equipment, and furniture as well as other business-related operations, the BIP is an economic development incentive tool designed to...

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