HB 25-1006

House Bill 25-1006, which has been signed into law, allows Colorado school districts to lease their unused property for longer periods than the usual 10-year limit. This extended leasing can be used specifically for solar fields, energy storage systems, or affordable housing projects. If a school district decides to use its property for an affordable housing project, it must create a policy defining what qualifies as "affordable housing" for that specific project. This law benefits school districts looking to generate income through renewable energy and support community housing needs.

Official Summary

Current law limits to 10 years the time a school district can lease district property not needed for its purposes. The act allows a school district to lease district property for any term of years for purposes of a solar field, energy storage system, or affordable housing. If a board of education of a school district leases or rents property for the purposes of an affordable housing project, the board of education shall develop a policy that defines affordable housing for the project. (Note: This summary applies to this bill as enacted.)

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