SB 23-250

Senate Bill 23-250 transfers $10 million from a state fund to support energy-related programs at higher education institutions in counties affected by the energy industry. Specifically, it allocates money for Colorado Mesa University to expand its geothermal system and for Western Colorado University to provide more space for teaching petroleum geology. The bill was signed into law on April 28, 2023, meaning these funds will be available as planned starting from that date.

Official Summary

On July 1, 2023, the state treasurer is required to transfer $10 million from the severance tax operational fund to the capital construction fund. The money is to be used by state-supported institutions of higher education in energy impacted counties for energy-related programs or projects. For fiscal year 2023-24, the act appropriates $6 million from the capital construction fund and $3,108,609 in cash funds from Colorado Mesa university institutional reserves and donations to expand the university's campus-wide geothermal exchange system. For fiscal year 2023-24, the act appropriates $4 million to Western Colorado university to provide additional teaching and laboratory space for the university's petroleum geology program and to generally allow for the expansion of the natural and environmental sciences department. APPROVED by Governor April 28, 2023 EFFECTIVE April 28, 2023 (Note: This summary applies to this bill as enacted.)

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