Senate Bill 25-179 Rerevised

A Bill for an Act

• Page 1, Line 101Concerning the continuation of the "Identity Theft and

• Page 1, Line 102Financial Deterrence Act", and, in connection

• Page 1, Line 103therewith, implementing the recommendations

• Page 1, Line 104contained in the 2024 sunset report by the department

• Page 1, Line 105of regulatory agencies and making and reducing an

• Page 1, Line 106appropriation.

Bill Summary

(Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://leg.colorado.gov/.)

Sunset Process - Senate Judiciary Committee. The "Identity Theft and Financial Deterrence Act" is set to repeal September 1, 2025. The bill implements the department of regulatory agencies' recommendations to:

• Continue the "Identity Theft and Financial Fraud Deterrence Act" until September 1, 2036;
• Repeal the identity theft and financial fraud board; and
• Repeal the current cash fund funding structure; allow appropriation of money from the general fund to the department of public safety; and allow the department of public safety to accept gifts, grants, and donations to staff the Colorado investigators unit.

• Page 2, Line 1Be it enacted by the General Assembly of the State of Colorado:

• Page 2, Line 2SECTION 1.  In Colorado Revised Statutes, 24-34-104, repeal (26)(a)(V) and (26)(a)(VI); and add (37) as follows:

• Page 2, Line 324-34-104.  General assembly review of regulatory agencies

• Page 2, Line 4and functions for repeal, continuation, or reestablishment - legislative

• Page 2, Line 5declaration - repeal. (26) (a)  The following agencies, functions, or both, are scheduled for repeal on September 1, 2025:

• Page 2, Line 6(V)  The identity theft and financial fraud board created in part 17 of article 33.5 of this title;

• Page 2, Line 7(VI)  The Colorado fraud investigators unit created in part 17 of article 33.5 of this title;

• Page 2, Line 8(37) (a)  The following agencies, functions, or both, are scheduled for repeal on September 1, 2036:

• Page 2, Line 9(I)  The Colorado fraud investigators unit created in part 17 of article 33.5 of this title 24.

• Page 2, Line 10(b)  This subsection (37) is repealed, effective September 1, 2038.

• Page 2, Line 11SECTION 2.  In Colorado Revised Statutes, 24-33.5-1704,

• Page 2, Line 12amend (2); and repeal (6) as follows:

• Page 3, Line 124-33.5-1704.  Colorado fraud investigators unit - creation -

• Page 3, Line 2duties - repeal. (2)  The purpose of the unit shall be is to assist the

• Page 3, Line 3attorney general, sheriffs, police, and district attorneys in investigating

• Page 3, Line 4identity theft and financial fraud crimes and in prosecuting persons who

• Page 3, Line 5commit those crimes. The unit shall also serve serves as an educational

• Page 3, Line 6resource for law enforcement agencies, members of the financial industry,

• Page 3, Line 7and the public regarding identity theft and financial fraud crimes and

• Page 3, Line 8strategies for protection from and deterrence of these crimes. The unit

• Page 3, Line 9shall operate pursuant to the comprehensive plan prepared by the unit and

• Page 3, Line 10approved by the board pursuant to section 24-33.5-1706. The board shall have the oversight and direction of the unit in all of its operations.

• Page 3, Line 11(6)  The unit shall provide such clerical and technical assistance as the board may require.

• Page 3, Line 12SECTION 3.  In Colorado Revised Statutes, amend 24-33.5-1708 as follows:

• Page 3, Line 1324-33.5-1708.  Repeal of part. (1)  This part 17 is repealed, effective September 1, 2025 September 1, 2036.

• Page 3, Line 14(2)  Prior to said repeal, the board and the unit shall be reviewed as provided for in section 24-34-104.

• Page 3, Line 15SECTION 4.  In Colorado Revised Statutes, repeal and reenact, with amendments, 24-33.5-1707 as follows:

• Page 3, Line 1624-33.5-1707.  Identity theft and financial fraud fund - creation

• Page 3, Line 17- source of funds. (1)  The identity theft and financial fraud fund,

• Page 3, Line 18referred to in this section as the "fund", is created in the state

• Page 3, Line 19treasury. The fund consists of gifts, grants, or donations

• Page 3, Line 20credited to the fund pursuant to subsection (2) of this section

• Page 3, Line 21and all money that the general assembly appropriates or

• Page 4, Line 1transfers to the fund. The department of public safety shall administer the fund.

• Page 4, Line 2(2)  The department of public safety may seek, accept, and

• Page 4, Line 3expend gifts, grants, or donations from private or public sources for the purpose of this part 17.

• Page 4, Line 4(3)  The state treasurer shall credit all interest and

• Page 4, Line 5income derived from the deposit and investment of money in the fund to the fund.

• Page 4, Line 6(4)  Subject to annual appropriation by the general

• Page 4, Line 7assembly, the department of public safety may expend money from the fund to staff the unit.

• Page 4, Line 8(5)  Any money in the fund not expended or encumbered

• Page 4, Line 9from an appropriation at the end of a fiscal year remains in the fund and is available for expenditure in the next fiscal year.

• Page 4, Line 10SECTION 5.  In Colorado Revised Statutes, repeal 24-1-128.6 (6), 24-33.5-1703, 24-33.5-1705, and 24-33.5-1706.

• Page 4, Line 11SECTION 6.  Appropriation - adjustments to 2025 long bill. To

• Page 4, Line 12implement this act, the cash funds appropriation from the Colorado

• Page 4, Line 13identity theft and financial fraud cash fund created in section

• Page 4, Line 1424-33.5-1707 (1)(a), C.R.S., made in the annual general appropriation act

• Page 4, Line 15for the 2025-26 state fiscal year to the department of public safety for use

• Page 4, Line 16by the Colorado bureau of investigation for the complex financial fraud

• Page 4, Line 17unit is decreased by $653,345, and the related FTE is decreased by 7.0 FTE.

• Page 4, Line 18SECTION 7.  Appropriation. For the 2025-26 state fiscal year,

• Page 4, Line 19$653,345 is appropriated to the department of public safety for use by the

• Page 4, Line 20Colorado bureau of investigation. This appropriation is from the identity

• Page 5, Line 1theft and financial fraud fund created in section 24-33.5-1707 (1), C.R.S.,

• Page 5, Line 2and is based on an assumption that the bureau will require an additional

• Page 5, Line 37.0 FTE. To implement this act, the bureau may use this appropriation for the complex financial fraud unit.

• Page 5, Line 4SECTION 8.  Act subject to petition - effective date. This act

• Page 5, Line 5takes effect at 12:01 a.m. on the day following the expiration of the

• Page 5, Line 6ninety-day period after final adjournment of the general assembly; except

• Page 5, Line 7that, if a referendum petition is filed pursuant to section 1 (3) of article V

• Page 5, Line 8of the state constitution against this act or an item, section, or part of this

• Page 5, Line 9act within such period, then the act, item, section, or part will not take

• Page 5, Line 10effect unless approved by the people at the general election to be held in

• Page 5, Line 11November 2026 and, in such case, will take effect on the date of the official declaration of the vote thereon by the governor.