Senate Bill 25-262 Revised

A Bill for an Act

• Page 1, Line 101Concerning changes to the amount of money in the capital

• Page 1, Line 102construction fund.

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/.)

Joint Budget Committee. Under current law, all unappropriated balances in the capital construction fund (fund) and in the information technology capital account, a special account within the fund, (IT subaccount) at the close of any fiscal year must remain in the fund or the IT subaccount, respectively, and do not revert to the general fund. Additionally, all unexpended or unencumbered money from an appropriation from the fund or the IT subaccount to a state agency or state institution of higher education reverts to the fund or the IT subaccount, as applicable, at the end of the period for which the money is appropriated.

For state fiscal years commencing on or after July 1, 2025, the bill requires that the state treasurer transfer any unappropriated balances in the fund or the IT subaccount or any otherwise unexpended and unencumbered money remaining in the fund or the IT subaccount at the end of a fiscal year to the general fund. Further, the bill requires that, for state fiscal years commencing on or after July 1, 2025, all unexpended or unencumbered money from an appropriation from the fund or the IT subaccount to a state agency or state institution of higher education reverts to the general fund at the end of the period for which the money is appropriated.

The bill also requires that the following transfers be made by the state treasurer on July 1, 2025:

• $129,498,033 from the general fund to the fund;
• $500,000 from the general fund exempt account of the general fund to the fund;
• $20,557,433 from the general fund to the IT subaccount; and
• $3,230,000 from the marijuana tax cash fund to the IT subaccount.

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

• Page 2, Line 2SECTION 1.  In Colorado Revised Statutes, 24-75-302, amend

• Page 2, Line 3(1)(a), (2)(tt), (2)(uu), (2.3)(o), (2.3)(p), (2.5)(r), (2.5)(s), (3.7)(a), and (13); and add(1)(c), (2)(vv), (2.3)(q), (2.5)(t), and (3.7)(a.5) as follows:

• Page 2, Line 424-75-302.  Capital construction fund - capital assessment fees

• Page 2, Line 5- calculation - information technology capital account. (1) (a)  There

• Page 2, Line 6is hereby created The capital construction fund is created. The fund

• Page 2, Line 7consists of moneys money transferred to the fund by the general

• Page 2, Line 8assembly and moneys money credited to the fund pursuant to section

• Page 2, Line 924-30-1310. Moneys Money in the capital construction fund may be

• Page 2, Line 10appropriated for capital construction, capital renewal, controlled

• Page 2, Line 11maintenance, or state highway reconstruction, repair, and maintenance

• Page 3, Line 1projects as requested pursuant to section 43-1-113 (2.5); C.R.S.; except

• Page 3, Line 2that any moneys money transferred to the capital construction fund for

• Page 3, Line 3state highway reconstruction, repair, and maintenance projects may only

• Page 3, Line 4be appropriated for such projects. The appropriation for projects must be

• Page 3, Line 5set forth in a single line item as a total sum. For state fiscal years

• Page 3, Line 6commencing on or before July 1, 2024, all unappropriated balances in

• Page 3, Line 7the fund at the close of any fiscal year must remain in the fund and may

• Page 3, Line 8not revert to the general fund. For state fiscal years commencing on

• Page 3, Line 9or after July 1, 2025, the state treasurer shall transfer any

• Page 3, Line 10unappropriated balances in the fund or any otherwise

• Page 3, Line 11unexpended and unencumbered money remaining in the fund at

• Page 3, Line 12the end of a fiscal year to the general fund. All unexpended or

• Page 3, Line 13unencumbered moneys money from a capital construction fund

• Page 3, Line 14appropriation to a state agency or state institution of higher education for

• Page 3, Line 15any fiscal year reverts, for state fiscal years commencing on or

• Page 3, Line 16before July 1, 2024, to the capital construction fund, and, for state

• Page 3, Line 17fiscal years commencing on or after July 1, 2025, to the general

• Page 3, Line 18fund at the end of the period for which the moneys are money is

• Page 3, Line 19appropriated. Except as provided in sections 2-3-1304 (1)(a.5) and

• Page 3, Line 2024-30-1303.7 (1), C.R.S., no portion of the unexpended balance of a state

• Page 3, Line 21agency's or state institution of higher education's capital construction fund

• Page 3, Line 22appropriation may be used by the state agency or the state institution of

• Page 3, Line 23higher education for any additional projects that are beyond the scope or

• Page 3, Line 24design of the original project without further approval by the capital

• Page 3, Line 25development committee of such additional project. Anticipation warrants

• Page 3, Line 26or checks may be issued against the revenues of the fund as provided by

• Page 3, Line 27law. Except as provided in subsection (7) subsections (1)(c) and (7) of

• Page 4, Line 1this section, all interest earned from the investment of moneys money in

• Page 4, Line 2the capital construction fund must remain in the fund and become a part thereof.

• Page 4, Line 3(c) (I)  For fiscal years commencing on or before July 1,

• Page 4, Line 42024, the state treasurer shall credit all interest and income

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

• Page 4, Line 6(II)  Notwithstanding subsection (1)(a) of this section, for

• Page 4, Line 7fiscal years commencing on or after July 1, 2025, in accordance

• Page 4, Line 8with section 24-36-114 (1), the state treasurer shall credit all

• Page 4, Line 9interest and income derived from the deposit and investment of money in the capital construction fund to the general fund.

• Page 4, Line 10(2)  The controller shall transfer a sum as specified in this

• Page 4, Line 11subsection (2) from the general fund to the capital construction fund as

• Page 4, Line 12money becomes available in the general fund during the fiscal year

• Page 4, Line 13beginning on July 1 of the fiscal year in which the transfer is made or on

• Page 4, Line 14the date otherwise specified for the transfer. Transfers between funds

• Page 4, Line 15pursuant to this subsection (2) are not appropriations subject to the

• Page 4, Line 16limitations of section 24-75-201.1. The amounts transferred pursuant to this subsection (2) are as follows:

• Page 4, Line 17(tt)  On April 1, 2024, eighteen million nine hundred seventy-one thousand one hundred dollars; and

• Page 4, Line 18(uu)  On July 1, 2024, one hundred sixty-two million seven hundred seventy-eight thousand two hundred eighty-five dollars; and

• Page 4, Line 19(vv)  On July 1, 2025, one hundred twenty-nine million four hundred twenty-one thousand one hundred ten dollars.

• Page 4, Line 20(2.3)  In addition to the sums transferred pursuant to subsections

• Page 5, Line 1(2) and (2.5) of this section, the state treasurer and the controller shall

• Page 5, Line 2transfer a sum as specified in this subsection (2.3) from the general fund

• Page 5, Line 3to the information technology capital account created in subsection (3.7)

• Page 5, Line 4of this section as money becomes available in the general fund during the

• Page 5, Line 5fiscal year beginning on July 1 of the fiscal year in which the transfer is

• Page 5, Line 6made or on April 1 of the fiscal year if otherwise specified. Transfers

• Page 5, Line 7between funds pursuant to this subsection (2.3) are not appropriations

• Page 5, Line 8subject to the limitations of section 24-75-201.1. The amounts transferred pursuant to this subsection (2.3) are as follows:

• Page 5, Line 9(o)  On July 1, 2023, sixty-three million nine hundred thirteen thousand nine hundred eighty-eight dollars; and

• Page 5, Line 10(p)  On July 1, 2024, seventy million eight hundred eleven thousand three hundred thirty-four dollars; and

• Page 5, Line 11(q)  On July 1, 2025, twenty million five hundred fifty-seven thousand four hundred thirty-three dollars.

• Page 5, Line 12(2.5)  In addition to the sums transferred pursuant to subsections

• Page 5, Line 13(2) and (2.3) of this section, the state treasurer and the controller shall

• Page 5, Line 14transfer a sum as specified in this subsection (2.5) from the general fund

• Page 5, Line 15exempt account of the general fund created pursuant to section

• Page 5, Line 1624-77-103.6 to the capital construction fund as money becomes available

• Page 5, Line 17in the general fund exempt account during the fiscal year beginning on

• Page 5, Line 18July 1 of the fiscal year in which the transfer is made. Transfers between

• Page 5, Line 19funds pursuant to this subsection (2.5) are not appropriations subject to

• Page 5, Line 20the limitations of section 24-75-201.1. The amounts transferred pursuant to this subsection (2.5) are as follows:

• Page 5, Line 21(r)  On July 1, 2023, five hundred thousand dollars; and

• Page 5, Line 22(s)  On July 1, 2024, five hundred thousand dollars; and

• (t)  On July 1, 2025, five hundred thousand dollars.

• Page 6, Line 1(3.7) (a)  There is hereby created a special account within the

• Page 6, Line 2capital construction fund established pursuant to subsection (1) of this

• Page 6, Line 3section to be known as the information technology capital account. The

• Page 6, Line 4account consists of any money appropriated or transferred to the account

• Page 6, Line 5by the general assembly. The general assembly may appropriate money

• Page 6, Line 6in the account for information technology projects. The appropriation for

• Page 6, Line 7information technology projects must be set forth in a single line item as

• Page 6, Line 8a total sum. For state fiscal years commencing on or before July

• Page 6, Line 91, 2024, all unappropriated balances in the account at the close of any

• Page 6, Line 10fiscal year remain in the account and do not revert to the general fund.

• Page 6, Line 11For state fiscal years commencing on or after July 1, 2025, the

• Page 6, Line 12state treasurer shall transfer any unappropriated balances in

• Page 6, Line 13the account or any otherwise unexpended and unencumbered

• Page 6, Line 14money remaining in the account at the end of a fiscal year to the

• Page 6, Line 15general fund. All unexpended or unencumbered money from an

• Page 6, Line 16information technology capital account appropriation to a state agency or

• Page 6, Line 17state institution of higher education for any fiscal year reverts, for state

• Page 6, Line 18fiscal years commencing on or before July 1, 2024, to the account,

• Page 6, Line 19and, for state fiscal years commencing on or after July 1, 2025,

• Page 6, Line 20to the general fund at the end of the period for which the money is

• Page 6, Line 21appropriated. No portion of the unexpended balance of a state agency's or

• Page 6, Line 22state institution of higher education's information technology capital

• Page 6, Line 23account appropriation may be used by the state agency or the state

• Page 6, Line 24institution of higher education for any additional projects that are beyond

• Page 6, Line 25the scope or design of the original project without further approval by the

• Page 6, Line 26joint technology committee of the additional project. Anticipation

• Page 7, Line 1warrants or checks may be issued against the revenues of the account as

• Page 7, Line 2provided by law. All interest earned from the investment of money in the account must remain in and become part of the account.

• Page 7, Line 3(a.5) (I)  For fiscal years commencing on or before July 1,

• Page 7, Line 42024, the state treasurer shall credit all interest and income

• Page 7, Line 5derived from the deposit and investment of money in the

• Page 7, Line 6information technology capital account to the information technology capital account.

• Page 7, Line 7(II)  Notwithstanding subsection (3.7)(a) of this section, for

• Page 7, Line 8fiscal years commencing on or after July 1, 2025, in accordance

• Page 7, Line 9with section 24-36-114 (1), the state treasurer shall credit all

• Page 7, Line 10interest and income derived from the deposit and investment of

• Page 7, Line 11money in the information technology capital account to the general fund.

• Page 7, Line 12(13)  The fund includes money transferred pursuant to sections 24-33.5-706 (4.7), 39-28.8-501 (4.7), and 39-29-109.3 (10).

• Page 7, Line 13SECTION 2.  In Colorado Revised Statutes, 39-28.8-501, amend (4.7)(b); and add (4.7)(c) as follows:

• Page 7, Line 1439-28.8-501.  Marijuana tax cash fund - creation - distribution

• Page 7, Line 15- legislative declaration - repeal. (4.7) (b)  This subsection (4.7) is repealed, effective July 1, 2025 July 1, 2026.

• Page 7, Line 16(c)  On July 1, 2025, the state treasurer shall transfer

• Page 7, Line 17three million two hundred thirty thousand dollars from the

• Page 7, Line 18fund to the information technology capital account of the capital construction fund created in section 24-75-302 (3.7)(a).

• Page 7, Line 19SECTION 3.  Safety clause. The general assembly finds,

• Page 7, Line 20determines, and declares that this act is necessary for the immediate

• Page 8, Line 1preservation of the public peace, health, or safety or for appropriations for

• Page 8, Line 2the support and maintenance of the departments of the state and state institutions.