HB 26-1393

HB 26-1393 is a Colorado bill that changes how certain funds, specifically those for public school construction and health facility construction, are managed. Instead of having an annual limit on the amount they can keep in reserve, these funds will only need to reduce their reserves if they exceed a maximum level for three years in a row. The governor has signed this bill into law, meaning it is now official state policy. This affects how money is handled and potentially saved in these construction funds over multiple years.

Official Summary

The act exempts the public school construction and inspection cash fund and the health facility construction and inspection cash fund from the annual limitations on the amount of uncommitted reserves that may be held in a cash fund (maximum reserve). Instead, those cash funds are subject to the same substantive maximum reserve requirements if the uncommitted reserves of the fund exceed the allowable maximum reserve for 3 consecutive fiscal years.(Note: This summary applies to this bill as enacted.)

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