HB 26-1345

House Bill 26-1345, which has been signed into law, changes how Colorado funds its state universities starting from the 2027-28 fiscal year. The bill updates the way funding is calculated by renaming "performance funding" to "results-informed funding," changing some of the criteria used for this funding, and altering the order in which different types of funding are considered. This affects how Colorado's public universities receive state money and could influence their operations and priorities moving forward. Since it has been signed, the changes will be implemented as planned.

Official Summary

The act changes the higher education funding provisions, effective for the 2027-28 state fiscal year.     Under current law, a state institution of higher education's governing board's annual fee-for-service contract includes funding calculated based on 3 components: Ongoing additional funding, performance funding, and temporary additional funding. The act:Changes the name of the funding from 'performance funding' to 'results-informed funding';Redefines terms and metrics that are used to determine results-informed funding; andReorders the components and eliminates current statutory language that requires sequential calculation of the components.     For the 2026-27 state fiscal year, the act prohibits the commission on higher education from allocating money to nonpublic institutions of higher education, private institutions of higher education, or proprietary institutions of higher education for it students under a financial assistance program or a work-study program.(Note: This summary applies to this bill as enacted.)

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