Senate Bill 25-248 Engrossed

A Bill for an Act

• Page 1, Line 101Concerning the repeal of the mechanism for transferring to

• Page 1, Line 102the capital construction fund the amount of cost

• Page 1, Line 103reductions to a state agency for terminating a lease

• Page 1, Line 104for private space.

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. Senate Bill 22-239 created a mechanism by which state agencies that terminate a lease for private space calculate the amount of annual reduction in the state agency's costs (cost reduction) for leased space and the general assembly transfers to the capital construction fund an amount equal to the cost reduction from the fund that was the source of the funding for the lease. The transfer continues annually until the amount transferred equals the amount that Senate Bill 22-239 requires to be transferred to the capitol complex renovation fund from annual depreciation-lease equivalent payments that otherwise would be credited to state agency capital reserve accounts. To date, no transfers for cost reduction have been made, nor are any anticipated. The bill repeals this mechanism created by Senate Bill 22-239.

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

• Page 2, Line 2SECTION 1.  In Colorado Revised Statutes, 24-30-1310, repeal (3) as follows:

• Page 2, Line 324-30-1310.  Funding for capital construction, controlled

• Page 2, Line 4maintenance, or capital renewal - definitions. (3) (a)  Except as

• Page 2, Line 5provided in subsection (3)(b) of this section, each state agency that

• Page 2, Line 6terminates a lease for private space on or after July 1, 2023, shall

• Page 2, Line 7calculate the annual reduction in its costs for leased space. Beginning in

• Page 2, Line 8the 2023-24 fiscal year, the general assembly shall transfer to the capital

• Page 2, Line 9construction fund an amount equal to each state agency's annual reduction

• Page 2, Line 10in lease costs. Such amount shall be from the fund that was the source of

• Page 2, Line 11the funding for the lease. The annual transfer required in this subsection

• Page 2, Line 12(3) shall continue in each fiscal year until the state treasurer determines

• Page 2, Line 13that the amount transferred to the capital construction fund pursuant to

• Page 2, Line 14this subsection (3) equals the amount transferred to the capitol complex renovation fund created in section 24-30-1313.

• Page 2, Line 15(b)  Notwithstanding subsection (3)(a) of this section, the money

• Page 2, Line 16in the wildlife cash fund created in section 33-1-112 (1)(a) is not subject to a transfer to the capital construction fund pursuant to this section.

• Page 2, Line 17SECTION 2.  In Colorado Revised Statutes, 24-30-1314, repeal (1)(b) as follows:

• Page 3, Line 124-30-1314. Capitol complex renovation - report - repeal.

• Page 3, Line 2(1)  Beginning July 1, 2023, the department of personnel shall report

• Page 3, Line 3quarterly to the capital development committee regarding the status of the

• Page 3, Line 4capitol complex renovations funded with money from the capitol complex

• Page 3, Line 5renovation fund created in section 24-30-1313. At a minimum, the report shall include:

• Page 3, Line 6(b)  The annual reduction in each state agency's costs for leased private office space, as calculated pursuant to section 24-30-1310 (3); and

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

• Page 3, Line 8determines, and declares that this act is necessary for the immediate

• Page 3, Line 9preservation of the public peace, health, or safety or for appropriations for

• Page 3, Line 10the support and maintenance of the departments of the state and state institutions.