SB 22-239

Senate Bill 22-239, which has been signed into law, aims to fund renovations in Colorado's capitol complex by redirecting money from state agency accounts and lease savings. The bill creates a new fund that will receive annual depreciation payments and lease cost reductions, with up to $23 million set aside for improvements to legislative spaces. It also allows departments to carry over unspent utility funds to invest in energy-saving equipment or services. This legislation impacts the state's budget allocation and is now law after being signed by the governor, meaning that funding will be available for specific renovation projects as outlined in the bill.

Official Summary

On September 1, 2022, the state treasurer is required transfer to the capitol complex renovation fund (fund) any amounts credited to state agency capital reserve accounts on June 30, 2022, for annual depreciation-lease equivalent payments that are funded in connection with every appropriation in the capital construction section of the annual general appropriation act. For the 2022-23 fiscal year through the 2028-29 fiscal year, the state controller is required to credit the annual depreciation-lease equivalent payments to the fund rather than to the state agency capital reserve accounts. Each state agency that terminates a lease for private space is required to calculate the annual reduction in its costs for leased space. Beginning in the 2023-24 fiscal year, the general assembly is required to annually transfer an amount equal to each state agency's annual reduction in lease costs to the capital construction fund. Such transfers continue until the state treasurer determines that the amount transferred to the capital construction fund from lease savings equals the amount transferred to the fund from the annual depreciation-lease equivalent payments. The capitol complex renovation fund is created, and the money in the fund is appropriated to the department of personnel for certain capital construction needs for existing state-owned buildings in the capitol complex. Up to $23 million of the money in the fund is set aside for use by the legislative department for improvements to legislative spaces in the capitol complex. The department of personnel is required to submit a quarterly report to the capital development committee regarding the status of the capitol complex renovations funded with money in the fund. Any unexpended and unencumbered money appropriated to a department in a specific line item for utilities in a fiscal year remains available for expenditure in the next fiscal year without further appropriation for the department to purchase utilities conservation equipment or services. $18,600,000 is transferred from the capitol complex master plan implementation fund to the fund. Two floors of the capitol building annex at 1375 Sherman street are included in the spaces over which the general assembly has control and for which the general assembly is responsible for the supervision of maintenance. For the 2022-23 state fiscal year, $26,721,314 is appropriated to the department of personnel from the fund. The department may use the appropriation for capital construction related to capitol complex renovation projects pursuant to the act. (Note: This summary applies to this bill as enacted.)

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