SB 25-262

Senate Bill 25-262 changes how money is managed in Colorado's Capital Construction Fund and its Information Technology (IT) subaccount. Starting from July 1, 2025, any leftover funds will be moved into the state’s general fund instead of staying in these specific accounts. This includes transferring interest earned on investments to the general fund as well. Additionally, the bill requires certain amounts of money to be transferred back into these funds and subaccounts from the general fund and other sources by July 1, 2025. The bill has been signed into law, meaning its provisions will take effect according to the specified timeline.

Official Summary

For state fiscal years commencing on or after July 1, 2025, the act requires that: The state treasurer transfer any unappropriated balances or otherwise unexpended and unencumbered money remaining in the capital construction fund (fund) or the information technology capital account of the fund (IT subaccount), or any otherwise unexpended and unencumbered money remaining in the fund or the IT subaccount at the end of a fiscal year to the general fund; All unexpended or unencumbered money from an appropriation from the fund or the IT subaccount to a state agency or state institution of higher education reverts to the general fund at the end of the period for which the money is appropriated; and All interest and income derived from the deposit and investment of money in the fund and the IT subaccount be credited to the general fund. The act also requires the state treasurer to make the following transfers on July 1, 2025: $129,498,033 from the general fund to the fund; $500,000 from the general fund exempt account of the general fund to the fund; $20,557,433 from the general fund to the IT subaccount; and $3,230,000 from the marijuana tax cash fund to the IT subaccount.(Note: This summary applies to this bill as enacted.)

Related Legislation

Votes