HB 26-1332

HB 26-1332, a Colorado bill that has been signed into law, adjusts how money is managed within the Legislative Department's cash fund. It transfers $12 million from this fund to the state’s general fund and sets a new limit of $8 million for the current fiscal year, with future limits adjusting based on changes in legislative branch funding. The bill also prevents excess funds from reverting back to the state treasury by transferring any amount over the set limit to the general fund each year. This affects how the Colorado General Assembly manages its budget and ensures that money specifically allocated for redistricting is not included in these calculations.

Official Summary

Executive Committee of the Legislative Council. The bill makes the following changes to the legislative department cash fund (fund):Transfers $12 million from the fund to the general fund;Establishes a fund limit, equal to $8 million for the current state fiscal year, and, thereafter, it adjusts proportionally with the percentage change in total general fund appropriations for the legislative branch;Limits reversion of unexpended appropriations to the fund to prevent the balance from exceeding the fund limit and annually transferring any portion of the fund that exceeds the balance to the general fund; Excludes money in the congressional redistricting and legislative redistricting accounts (redistricting accounts) and gifts, grants, and donations in the fund from any calculations related to the fund limit;Codifies that any money received related to records requests is deposited into the fund and that the house of representatives, the senate, and the legislative service agencies are authorized to seek, accept, and expend gifts, grants, or donations; andClarifies that the interest and income in the congressional redistricting and legislative redistricting accounts in the fund are transferred to the general fund, along with other interest and income from the fund.     Makes conforming amendments due to the restructuring of the provision creating the fund.(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

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