SB 24-224

This Colorado bill requires the state government to create a plan for managing its technology systems and assets over time. It mandates that the governor's office of information technology set aside funds each year to account for the aging and depreciation of these technologies, ensuring they are updated or replaced as needed. The bill also calls for annual reports on the state’s technical debt, which is essentially the cost of maintaining old or outdated tech systems. This affects how the state budgets for and manages its technological infrastructure going forward. Since it has been signed into law, the state must now follow these guidelines starting in 2025.

Official Summary

On or before December 31, 2024, the governor's office of information technology (office) is required to promulgate rules to establish a technology life-cycle plan. The rules may consider information security risk, infrastructure risk, operating cost misalignment, productivity cost misalignment, or talent depreciation in connection with an information technology system or asset. For every initial appropriation for an information technology capital project in the capital construction section of the annual general appropriation act for the 2025-26 state fiscal year and each state fiscal year thereafter other than appropriations from specified excluded sources, the general assembly is required to set aside additional funding for information technology annual depreciation-lease equivalent payments. On or before November 1, 2025, and on or before November 1 of each year thereafter, the office is required to submit a report to the joint budget committee and the joint technology committee that provides an estimate of the state's technical debt environment. For each cash fund from which money is appropriated for an information technology capital project, the principal department responsible for the accounting related to the cash fund is required to identify in the cash fund balance report an information technology capital reserve, which consists of an amount equal to the depreciation of the depreciable components of the information technology capital project, based on the depreciation period. APPROVED by Governor June 7, 2024 EFFECTIVE June 7, 2024(Note: This summary applies to this bill as enacted.)

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