HB 23-1232

House Bill 23-1232 extends the time frame for spending money that was transferred to several housing funds in Colorado. This means that money moved to these funds on June 27, 2021, must now be spent by July 1, 2025. The bill also allows for multiple grants to be awarded to different organizations to help address homelessness in the Denver area. Governor Jared Polis signed this bill into law on May 17, 2023, and it is now effective. This legislation impacts state agencies responsible for housing and local communities receiving these funds to combat homelessness.

Official Summary

Sections 1 and 4 of the act clarify that money that was transferred from the general fund or the affordable housing and home ownership cash fund to the Colorado heritage communities fund on June 27, 2021, or as soon as was practicable thereafter, must be expended before July 1, 2025. Section 2 clarifies that money that was transferred from the general fund to the housing development grant fund on June 27, 2021, must be expended before July 1, 2025. Section 3 clarifies that the division of housing may award multiple grants to multiple grant recipients for multiple regional navigation campuses in the Denver metropolitan area to respond to and prevent homelessness. APPROVED by Governor May 17, 2023 EFFECTIVE May 17, 2023 (Note: This summary applies to this bill as enacted.)

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