Colorado

Bill Designed to Incentivize Colorado's Quantum Ecosystem Clears Major Legislative Hurdle

Published

2 years ago

May 11, 2024

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Bill Designed to Incentivize Colorado's Quantum Ecosystem Clears Major Legislative Hurdle

Insider Brief

A bill to incentivize the adoption of quantum tech in Colorado has passed its third reading in the state Senate without any amendments.
With this third reading without alterations, the bill has cleared a critical legislative hurdle and moves on in the process.
The legislative success is a sign of support for Colorado’s quantum technology ecosystem with strategic tax incentives, among other programs and initiatives.

In what might be another critical step in the development for Colorado’s ambition to become a quantum initiative center, a bill to incentivize the adoption of quantum tech in that state has passed its third reading in the Senate without any amendments earlier this week.

The passage of its third reading means that the bill has cleared a critical legislative hurdle in the state Senate. It has maintained its original form without any alterations, and will now move on to the next step in the legislative process.

Supporters say this legislative success is a hopeful sign of the state’s backing of its quantum technology ecosystem with strategic tax incentives, among other programs and initiatives. The bill introduces tax credit programs aimed at fostering the development of quantum technology in Colorado, contingent upon the state securing substantial federal funding.

Corban Tillemann-Dick, CEO of Maybell and Co-Founder of Elevate Quantum, is excited about this next step in the process, as well as the overall program, which he says will significantly boost the growing quantum ecosystem in that state. The program is only part of the investment potential generated by the bill.

“As the CEO of a rapidly growing quantum startup, it’s exciting to see the State of Colorado seize the initiative by backing globally-unique policies like the loan guarantee program,” said Tillemann-Dick. “Scale-up loan capital is particularly hard to access for new companies in new industries, holding back the development of important technologies like quantum. This $74 million bill will unlock $1 billion in private capital for fast growing Colorado companies. It gives US companies the capital they need to compete with China, currently the only place globally where quantum organizations can access loan capital at this scale. I’m confident this program alone will generate billions in returns and deliver key capabilities for our nation’s security.”

The bill’s primary focus is the creation of a 100% refundable income tax credit for investments in fixed capital assets — long-term physical assets used in business operations — to establish a shared quantum facility. This incentive, effective for income tax years starting January 1, 2025, and ending before January 1, 2033, aims to support projects that create central hubs for quantum business activities. The maximum aggregate amount for this facility credit is capped at $44 million, with a limit of $24 million for credits claimed in the year the project is placed in service. Qualified applicants may be individual entities or consortia working on eligible projects, as long as they are approved by the Office of Economic Development.

The process for claiming the facility credit involves several steps. Applicants must submit a facility credit reservation application to the Office of Economic Development, undergo preliminary and final reviews and obtain a facility credit reservation. Upon completing the project, applicants must certify their qualifying investments, after which the office reviews the project and investments before issuing a tax credit certificate. This certificate must be filed with the Department of Revenue. The bill also includes provisions for recapturing the credit if the project fails to maintain its eligibility status during a specified compliance period.

Additionally, the bill introduces a 100% refundable income tax credit to offset losses from loans made to quantum companies, effective for income tax years starting January 1, 2026, and ending before January 1, 2046. This loan loss reserve tax credit aims to mitigate financial risks for lenders supporting the quantum technology sector, according to the legislation. The credit amounts to up to 15 cents per dollar of an eligible loan, with a total cap of $30 million for all loan loss credits.

The Office of Economic Development or a contracted third-party administrator will manage the credit distribution, potentially using a competitive lender selection process.

Expanding Economic Impact

By providing these tax incentives, Colorado could draw in additional federal funds, with the ultimate aim being the creation of a robust quantum technology ecosystem. That expanded ecosystem could include the construction of new physical spaces that attract students, researchers and entrepreneurs, said Massimo Ruzzene, University of Colorado Boulder vice chancellor for research and innovation and dean of the institutes.

“This bill takes a pivotal step by supporting the construction of a state-of-the-art quantum technology incubator,” said Ruzzene. “This facility—a collaboration between CU Boulder, Colorado School of Mines, CSU, and Elevate Quantum—will bridge the gap between higher education research labs and the quantum industry, exponentially expanding the economic impact of quantum science and technology in Colorado.”

Zachary Yerushalmi, CEO and Regional Innovation Officer of Elevate Quantum, added that the legislation is a good example of the intentionality needed to craft technological ecosystems, in this case, quantum tech, which could perhaps be history’s most complex technological endeavor.

“From semiconductors to biotech leadership, history has shown that globally leading technology clusters don’t emerge at random. Their success comes from deliberate and bold investments in the tools of innovation engines,” said Yerushalmi. “The investments by the State of Colorado that passed the General Assembly this week follow in the footsteps of the most defining and forward-looking technology investments of our time,” said. “These policies will create tens of thousands of jobs, billions in impact, and ensure that Colorado and the US will continue to lead the quantum economy for decades to come.”

Loan Program Specifics

The legislation offers a glimpse into the mechanics of the loan program. For example, lenders must register their loans with the administrator to qualify for the loan loss credit, which can be claimed only after incurring a loss on a registered loan. The administrator will review applications, issue loan loss tax credit certificates and then periodically update the status of registered loans. Qualified applicants can use these certificates to offset losses incurred on registered loans, ensuring financial stability while supporting the growth of quantum businesses.

The bill mandates annual reporting to the General Assembly by the Office of Economic Development and the administrator on the status and effectiveness of the facility and loan loss credits. Legislators how this transparency improves accountability and allows for policy adjustments along the way to optimize the implementation and impact of the incentives.

This is a summary of the legislation and program, for a deeper dive into the legislation, please review terms of the bill here.

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Colorado

Colorado mom, 6-year-old son found dead in Canyonlands National Park in apparent murder-suicide

Published

3 hours ago

January 10, 2026

Press Room

Colorado mom, 6-year-old son found dead in Canyonlands National Park in apparent murder-suicide

A Colorado woman and her 6-year-old son were found dead in Canyonlands National Park near Moab, Utah, this week in what appears to be a murder-suicide, law enforcement officials said.

Park rangers responded to a suspicious vehicle parked in a no-camping area near Shafer Trail in the Island in the Sky district of Canyonlands at 8:15 a.m. Thursday, the San Juan County, Utah, Sheriff’s Office said in a news release.

Park rangers found an unresponsive 6-year-old boy in the vehicle and started life-saving measures, but the boy was pronounced dead when he arrived at the hospital.

The woman was found dead outside of the vehicle.

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Colorado

Battle with the Blue Jackets | Colorado Avalanche

Published

15 hours ago

January 10, 2026

Press Room

Battle with the Blue Jackets | Colorado Avalanche

Columbus Blue Jackets (18-18-7) @ Colorado Avalanche (32-4-7)

2 p.m. MT | Ball Arena | Watch: Altitude, Altitude+ | Listen: Altitude Sports Radio (92.5 FM)

After a homestand-opening win on Thursday, the Avalanche hosts the Columbus Blue Jackets for Next Gen Night on Saturday. This is the second and final regular-season matchup between the teams in 2025-26, as the Avalanche defeated the Blue Jackets 4-1 in Columbus on October 16th.

A Big Night at Ball

Josh Manson recorded the first two-goal and four-point game of his career, along with a Gordie Howe hat trick, as the Avalanche defeated the Ottawa Senators 8-2 at Ball Arena on Thursday. Manson was one of five Avs to post at least three points on Thursday, alongside Nathan MacKinnon (1g/3a), Ross Colton (3a), Brock Nelson (2g/1a) and Cale Makar (1g/2a). Additionally, Brent Burns added a goal for Colorado while Scott Wedgewood stopped 29 of the 31 shots he faced in net for the Avs. With the victory, the Avalanche extended its home win streak to 16 games.

At 10:11 of the first period, Manson opened the scoring with his third goal of the season via a shot from the point through traffic. MacKinnon doubled Colorado’s lead at 17:14 of the first period with his 36th goal of the season via a shot from the slot set up by Necas. The Avs took a 3-0 lead at 2:35 of the second period when Makar scored his 13th tally of the season via a left-circle shot after receiving a drop pass from MacKinnon. At 5:08 of the middle frame, Shane Pinto put the Senators on the board. The Senators momentarily made it 3-2 with 13:41 remaining in the second period, but the goal was disallowed after the Avs successfully challenged for offside. After the disallowed tally, the clock was reset to 13:48.

Necas gave the Avs a 4-1 lead on the power play at 11:46 of the second period with his 20th goal of the season via a sharp-angle one-timer from the bottom of the left circle set up by MacKinnon. At 12:03 of the middle frame, Burns made it 5-1 with his sixth goal of the season via a right-point shot through traffic. Nelson gave the Avs a 6-1 lead on a five-on-three power play at 14:23 of the second period with his 20th goal of the season via a right-circle one-timer set up by MacKinnon’s cross-ice feed. The Avalanche took a 7-1 lead at 16:48 of the middle frame when Manson scored his second goal of the game and fourth of the season via a one-timer from the point set up by Jack Drury’s feed. At 18:04 of the middle frame, Nelson scored his second tally of the game and 21st of the season via a right-circle one-timer set up by Ilya Solovyov’s feed from the left point. Brady Tkachuk made it 8-2 with a shorthanded goal from the doorstep at 7:03 of the third period.

Leading the Way

Nate the Great

MacKinnon leads the NHL in goals (36) and points (78) while ranking tied for third in assists (42).

All Hail Cale

Makar leads NHL defensemen in points (51) and assists (38) while ranking third in goals by blueliners (13). Among all NHL skaters, he’s seventh in assists.

Marty Party

Necas is seventh in the NHL in points (55) and tied for ninth in assists (35).

Series History

In 70 previous regular-season games against the Blue Jackets, the Avalanche has a record of 45-19-1-5.

Defeat on the Road

The Blue Jackets lost 5-3 to the Vegas Golden Knights at T-Mobile Arena on Thursday. In the first period, Columbus took a 2-0 lead after goals from Boone Jenner at 8:24 and Kent Johnson at 10:41 before Reilly Smith put Vegas on the board at 12:20. The Golden Knights took a 4-2 lead after second-period goals from Smith at 5:19, Jack Eichel at 13:07 and Mark Stone on the power play at 18:44. Kirill Marchenko scored for the Blue Jackets to make it 4-3 at 14:28 of the third period before Brett Howden gave the Golden Knights a 5-3 lead at 16:14 of the final frame.

Contributors Against Columbus

MacKinnon has posted 26 points (7g/19a) in 22 games against the Blue Jackets.

In nine contests against Columbus, Makar has registered 17 points (6g/11a).

Necas has recorded 21 points (4g/17a) in 26 games against the Blue Jackets.

Producing Offense for Ohio’s Team

Zach Werenski leads the Blue Jackets in points (46) and assists (30) while ranking tied for first in goals (16).

Marchenko is tied for the team lead in goals (16) while ranking second in points (35) and tied for second in assists (19).

Dmitri Voronkov is third on the Blue Jackets in points (28) and goals (15).

A Numbers Game

30

Colorado’s 30 five-on-five goals since December 19th (10 games) are the most in the NHL during that span.

63

The Avalanche’s 63 second-period goals lead the NHL.

3.94

Colorado’s 3.94 goals per game since December 1st lead the NHL during that span.

Quote That Left a Mark

“It was fun. I don’t think he’s ever seen that before. He’s seen me fight. He’s maybe seen me score. But I don’t think he’s ever seen—actually, nobody’s ever seen that before out of me in the NHL. So, it was a first for everybody, including myself.”

— Josh Manson on recording a Gordie Howe hat trick with his father, former NHLer Dave Manson, in attendance

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Colorado man heads to Washington, D.C., to gain support for Marshall Fire survivors

Published

1 day ago

January 9, 2026

Press Room

Colorado man heads to Washington, D.C., to gain support for Marshall Fire survivors

Four years after the fire, recovery is still incomplete for some Marshall Fire victims. A Colorado man is joining wildfire survivors from across the country to push lawmakers to make changes and provide support for survivors still rebuilding.

Recently, a historic $640 million settlement was reached with Xcel Energy, but the Coloradans who lost everything in the Marshall Fire might not be receiving all the money that they’re owed. Some settlements could be taxed, while others were paid in full.

Benjamin Carter

“I was the fourth responding fire engine to the Marshall Fire. By the end of the night, I was triaging homes in the neighborhood that I grew up in,” said former firefighter Benjamin Carter. “I’ve seen how much the community’s hurting, and I just wanted to do whatever I could to help.”

Carter is now fighting for those who lost their homes, including his mother. He’s working with an organization called After the Fire, joining up with wildfire survivors in Oregon, Hawaii and California. This week, Carter flew to Washington, D.C., to speak with lawmakers about how they can help survivors rebuild.

In 2024, lawmakers passed the Federal Disaster Tax Relief Act, which exempted wildfire survivors from taxes on related settlements, among other tax relief. But the bill expired last week, shortly after Xcel agreed to settle over the Marshall Fire.

“If the people don’t have to pay taxes on the damages, then it helps them rebuild,” Carter explained. “Some of the smaller attorneys still haven’t received payment, so all those people will be subject to those taxes; all the attorney fees, and what the actual settlements end up being. And, of what they’re actually getting at the end of the day, that’s been a huge challenge.”

Congress has already proposed extension options. But Carter hopes that by sharing their stories, legislators will act before survivors lose anything else.

“With a lot going on in Washington and everything, the representatives don’t always know about all the issues. And so, we want to educate them on this issue and hopefully gain their support,” Carter said.

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