Senate Committee of Reference Report
Committee on Agriculture & Natural Resources
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May 1, 2025
After consideration on the merits, the Committee recommends the following:
HB25-1078 be amended as follows, and as so amended, be referred to the Committee on Appropriations with favorable recommendation:
Page 1, Line 1Amend reengrossed bill, page 3, line 3, strike "(2.6)" and substitute
Page 1, Line 2"(2)(e), (2.6),".
Page 1, Line 3Page 3, after line 11 insert:
Page 1, Line 4"(2) (e) If claims made pursuant to this article 13 exceed
Page 1, Line 5the balance in the unclaimed property trust fund, the state
Page 1, Line 6treasurer shall transfer from the general fund to the
Page 1, Line 7unclaimed property trust fund an amount needed to pay the
Page 1, Line 8claims and shall notify the joint budget committee of the
Page 1, Line 9general assembly of the transfer and the amount of the
Page 1, Line 10transfer from the general fund.".
Page 1, Line 11Page 3, line 12, after "(I)" insert "(A)".
Page 1, Line 12Page 3, line 13, strike "fifty" and substitute "twenty-five".
Page 1, Line 13Page 3, after line 16 insert:
Page 1, Line 14"(B) On July 1, 2026, the state treasurer shall make an
Page 1, Line 15interest-free loan in the amount of twenty-five million dollars
Page 1, Line 16from the unclaimed property trust fund to the department of
Page 1, Line 17local affairs created in section 24-1-125. The department may
Page 1, Line 18initially use up to two percent of the loan for administration
Page 1, Line 19costs.".
Page 1, Line 20Page 3, line 23, strike "loan" and substitute "loans".
Page 1, Line 21
Page 2, Line 1Page 4, line 17, strike the second "the" and substitute "a".
Page 2, Line 2Page 4, line 18, after "affairs" insert "pursuant to subsection
Page 2, Line 3(2.6)(a)(I) of this section,".
Page 2, Line 4Page 4, line 24, strike "and" and substitute "or".
Page 2, Line 5Page 5, line 3, strike "loan" and substitute "loans".
Page 2, Line 6Page 5, after line 6 insert:
Page 2, Line 7"(V) Notwithstanding subsections (2.6)(b)(III) and
Page 2, Line 8(2.6)(b)(IV) of this section, to the extent feasible, the department
Page 2, Line 9shall manage the combined revenue generated through
Page 2, Line 10administrative fees charged pursuant to subsection (2.6)(b)(III)
Page 2, Line 11of this section and investment earnings pursuant to subsection
Page 2, Line 12(2.6)(b)(IV) of this section, so as not to exceed the department's
Page 2, Line 13administrative costs over the life of the loan program.".
Page 2, Line 14Renumber succeeding subparagraph accordingly.
Page 2, Line 15Page 6, lines 7 and 8, strike "the loan back" and substitute "back the
Page 2, Line 16loans made to the department pursuant to subsection (2.6)(a)(I)
Page 2, Line 17of this section".