republic-os/legislation/us/states/co/2021a/hb-21-1241.md

---
type: "Bill"
title: "Employee-owned Business Loan Program Modifications"
description: "The act modifies requirements for an existing loan program (program) created to assist transitions of businesses to employee-owned businesses. The act repeals statutory eligibility requirements and requires the office of economic development (office) to establish eligibility criteria for the program. The criteria must include an annual gross revenues limitation for participation in the program for businesses, which amount may be set at up to or less than $50 million. The criteria must also establish requirements for the number of employees who will be offered the option to participate in the employee-ownership opportunity.A loan under the program may be used toward the purchase of the business by the employees. The act repeals requirements related to the size of the loans and how the loans must be held and requires the office to establish requirements for the terms of the loans pursuant to existing statutory requirements.Under the current statute, the program is repealed effective July 1, 2022. The act extends the program through July 1, 2025.(Note: This summary applies to this bill as enacted.)"
jurisdiction: "us/states/co"
legislature: "Colorado General Assembly"
session: "2021A"
identifier: "HB 21-1241"
citation: "Colorado HB 21-1241 (2021A)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Kevin Priola", "Lindsey Daugherty", "Mike Lynch", "Robert Rodriguez"]
version_count: 8
action_count: 14
vote_count: 2
first_action: "2021-03-24T06:00:00+00:00"
last_action: "2021-05-21T06:00:00+00:00"
source: "openstates"
source_identifier: "ocd-bill/a1ac455a-1952-466f-a656-15acec61fb15"
source_url: "http://leg.colorado.gov/bills/hb21-1241"
source_hash: "40ccf796f051f7142af237cdfca9108473b7bdf75cc4a251ca77642a7d8a4314"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-co"]
---

# Colorado HB 21-1241 (2021A) — Employee-owned Business Loan Program Modifications

The act modifies requirements for an existing loan program (program) created to assist transitions of businesses to employee-owned businesses. The act repeals statutory eligibility requirements and requires the office of economic development (office) to establish eligibility criteria for the program. The criteria must include an annual gross revenues limitation for participation in the program for businesses, which amount may be set at up to or less than $50 million. The criteria must also establish requirements for the number of employees who will be offered the option to participate in the employee-ownership opportunity.A loan under the program may be used toward the purchase of the business by the employees. The act repeals requirements related to the size of the loans and how the loans must be held and requires the office to establish requirements for the terms of the loans pursuant to existing statutory requirements.Under the current statute, the program is repealed effective July 1, 2022. The act extends the program through July 1, 2025.(Note: This summary applies to this bill as enacted.)

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Committee Amendment** (committee substitute) — [source](http://leg.colorado.gov/sites/default/files/2021a_hb1241_s_blt_001.pdf)
2. **Engrossed (04/15/2021)** (committee substitute) — [source](http://leg.colorado.gov/sites/default/files/documents/2021A/bills/2021a_1241_eng.pdf)
3. **Final Act (05/11/2021)** (committee substitute) — [source](http://leg.colorado.gov/sites/default/files/documents/2021A/bills/2021a_1241_enr.pdf)
4. **Introduced (03/24/2021)** (committee substitute) — [source](http://leg.colorado.gov/sites/default/files/documents/2021A/bills/2021a_1241_01.pdf)
5. **Reengrossed (04/19/2021)** (committee substitute) — [source](http://leg.colorado.gov/sites/default/files/documents/2021A/bills/2021a_1241_ren.pdf)
6. **Rerevised (04/30/2021)** (committee substitute) — [source](http://leg.colorado.gov/sites/default/files/documents/2021A/bills/2021a_1241_rer.pdf)
7. **Revised (04/29/2021)** (committee substitute) — [source](http://leg.colorado.gov/sites/default/files/documents/2021A/bills/2021a_1241_rev.pdf)
8. **Signed Act (05/21/2021)** (committee substitute) — [source](http://leg.colorado.gov/sites/default/files/2021a_1241_signed.pdf)

## Votes

- BILL — **33–2** (pass) · upper
- BILL — **50–13** (pass) · lower

## Sponsors

- Kevin Priola — primary (person)
- Lindsey Daugherty — primary (person)
- Mike Lynch — primary (person)
- Robert Rodriguez — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2021-05-21T06:00:00+00:00** Governor Signed `executive-signature`
- **2021-05-11T06:00:00+00:00** Sent to the Governor `executive-receipt`
- **2021-05-11T06:00:00+00:00** Signed by the Speaker of the House
- **2021-05-11T06:00:00+00:00** Signed by the President of the Senate
- **2021-04-30T06:00:00+00:00** Senate Third Reading Passed - No Amendments `passage, reading-3`
- **2021-04-29T06:00:00+00:00** Senate Second Reading Passed - No Amendments `reading-2`
- **2021-04-26T06:00:00+00:00** Senate Committee on Business, Labor, & Technology Refer Unamended - Consent Calendar to Senate Committee of the Whole `committee-passage`
- **2021-04-22T06:00:00+00:00** Introduced In Senate - Assigned to Business, Labor, & Technology `introduction`
- **2021-04-19T06:00:00+00:00** House Third Reading Passed - No Amendments `passage, reading-3`
- **2021-04-16T06:00:00+00:00** House Third Reading Laid Over Daily - No Amendments
- **2021-04-15T06:00:00+00:00** House Second Reading Passed - No Amendments `reading-2`
- **2021-04-13T06:00:00+00:00** House Second Reading Laid Over Daily - No Amendments
- **2021-04-08T06:00:00+00:00** House Committee on Business Affairs & Labor Refer Unamended to House Committee of the Whole `committee-passage, referral-committee`
- **2021-03-24T06:00:00+00:00** Introduced In House - Assigned to Business Affairs & Labor `introduction`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/a1ac455a-1952-466f-a656-15acec61fb15`. Confidence: reported (aggregated from official Colorado legislature records).