SB 17-255

Senate Bill 17-255, known as the Technology Advancement and Emergency Fund, establishes a new fund within Colorado’s Office of Information Technology. This fund will receive $2 million annually for two years starting in July 2017, plus any additional savings from cost reductions by the office. The money can be used to cover unexpected IT expenses, fix outdated technology, or handle sudden increases in service demands. Once equipment is purchased with this fund, it becomes property of the Office of Information Technology. The bill has been signed into law and requires annual reporting on how the funds are spent. This legislation affects state agencies by providing them with a dedicated source to manage unexpected IT costs and improve their technology infrastructure. Since the bill is signed, these agencies can now access this fund for necessary technological upgrades or emergency expenses as specified in the bill.

Official Summary

Joint Budget Committee. The bill creates the technology advancement and emergency fund (fund) in the office of information technology (office). Subject to annual appropriation by the general assembly, the office may expend money in the fund to cover one-time costs associated with emergency information technology expenditures, to address deferred maintenance of state agency information technology assets, and to provide additional services to address unforseen service demands. The bill specifies that if the office uses money in the fund to cover all or any portion of the cost of purchasing or refreshing an asset for a state agency, the asset becomes the property of the office. The office is required to submit an annual report to the joint budget committee and the joint technology committee, including specified information regarding expenditures from the fund. The bill directs the state treasurer to transfer $2 million to the fund on July 1, 2017, and on July 1, 2018. In addition, at the end of each fiscal year the state treasurer and the state controller shall transfer any unexpended or unencumbered appropriations that are the result of cost savings by the office to the newly created fund instead of the existing information technology revolving fund. The bill specifies that the fund is exempt from the limitation on uncommited reserves of a cash fund at the end of a fiscal year. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Related Legislation

Votes