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

The act makes the following changes to the legislative department cash fund (fund):Transfers $12,674,766 from the fund to the general fund;Establishes a fund limit, equal to $8 million for the state fiscal year commencing on July 1, 2025, and, thereafter, adjusts the fund limit 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 transfers 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 public 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 redistricting accounts in the fund are transferred to the general fund, along with other interest and income from the fund.(Note: This summary applies to this bill as enacted.)

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