Senate Bill 25-068 Preamended

A Bill for an Act

• Page 1, Line 101Concerning a municipally owned utility's voluntary

• Page 1, Line 102election to participate in the unclaimed utility

• Page 1, Line 103deposits program.

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.)

The unclaimed utility deposits program (program) helps finance electric and gas utility bill payment assistance for income-qualified households. The program is partially funded by electric and gas utilities' contributions of money that are owed to utility ratepayers but that has remained unclaimed by the ratepayers for more than 2 years. The bill clarifies that a municipally owned electric or gas utility may elect to participate in the program.

• This Unofficial Version Includes Committee

• Amendments Not Yet Adopted on Second Reading

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

• Page 2, Line 2SECTION 1.  In Colorado Revised Statutes, amend 40-8.5-102 as follows:

• Page 2, Line 340-8.5-102.  Applicability.(1)  This article shall apply article

• Page 2, Line 48.5 applies to any electric or gas utility, as defined by section 40-8.5-103;

• Page 2, Line 5except that this article shall apply article 8.5 applies only to those

• Page 2, Line 6cooperative electric associations, as defined by section 40-9.5-102, which

• Page 2, Line 7 that notify the commission that they elect to come under this article article 8.5.

• Page 2, Line 8(2)  Except as provided in section 40-8.5-106, this article 8.5 does not apply to municipally owned utilities.

• Page 2, Line 9SECTION 2.  In Colorado Revised Statutes, 40-8.5-103, amend (3) and (4) as follows:

• Page 2, Line 1040-8.5-103.  Definitions. As used in this article 8.5, unless the context otherwise requires:

• Page 2, Line 11(3) (a)  "Electric utility" means every electrical corporation

• Page 2, Line 12operating for the purpose of supplying electricity to the public for

• Page 2, Line 13domestic, mechanical, or public uses and includes every public utility

• Page 2, Line 14supplying electricity; except that this definition includes only those

• Page 2, Line 15cooperative electric associations which that notify the commission that they elect to come under this article article 8.5.

• Page 2, Line 16(b)  "Electric utility" does not include a municipally owned utility.

• Page 2, Line 17(4)  "Gas utility" means every gas corporation operating for the

• Page 2, Line 18purpose of supplying gas to the public for domestic, mechanical, or public

• Page 3, Line 1uses and includes every public utility supplying gas; except that this definition excludes municipally owned utilities.

• Page 3, Line 2SECTION 3. In Colorado Revised Statutes, amend 40-8.5-106 as follows:

• Page 3, Line 340-8.5-106.  Unclaimed deposits.(1)  Unclaimed deposits shall

• Page 3, Line 4be paid by the electric and gas utilities into the fund designated by the commission pursuant to section 40-8.5-104.

• Page 3, Line 5(2)  A municipally owned utility:

• Page 3, Line 6(a)  May elect to pay unclaimed deposits into either the

• Page 3, Line 7fund designated by the commission pursuant to section 40-8.5-104

• Page 3, Line 8or into a fund designated by the governing body of the

• Page 3, Line 9municipally owned utility to accomplish the goals set forth in this article 8.5; and

• Page 3, Line 10(b)  Shall define unclaimed deposits in a manner consistent

• Page 3, Line 11with the definition of "unclaimed moneys" set forth in section 40-8.5-103 (5).

• Page 3, Line 12SECTION 4.  Act subject to petition - effective date. This act

• Page 3, Line 13takes effect at 12:01 a.m. on the day following the expiration of the

• Page 3, Line 14ninety-day period after final adjournment of the general assembly; except

• Page 3, Line 15that, if a referendum petition is filed pursuant to section 1 (3) of article V

• Page 3, Line 16of the state constitution against this act or an item, section, or part of this

• Page 3, Line 17act within such period, then the act, item, section, or part will not take

• Page 3, Line 18effect unless approved by the people at the general election to be held in

• Page 3, Line 19November 2026 and, in such case, will take effect on the date of the official declaration of the vote thereon by the governor.