Education

This bill brings Denver School of Science and Technology charter schools into the Denver Public Schools division of the Public Employees' Retirement Association (PERA), allowing their employees to participate in the same retirement benefits as other Denver public school workers. The legislation also changes the PERA Board of Trustees by adding one voting member elected by Denver Public Schools employees and removing a non-voting ex officio member from that division. Additionally, the bill extends the deadline for charter school employees to purchase additional retirement service credit for years worked before affiliation, moving the cutoff date from November 1, 2006, to July 1, 2026. These changes affect Denver public school employees, retirees, and the governance structure of the state's public employee retirement system.

The bill requires the state treasurer, on behalf of the state, to execute, no later than December 31, 2026, financed purchase of an asset or certificate of participation agreements (financing agreements) to finance a portion of the capital costs related to the capital renewal of a facility at the Colorado school of mines. The financing agreements are to be issued in an aggregate principal amount not to exceed $13 million plus reasonable and necessary administrative, monitoring, and closing costs and interest, including capitalized interest. The anticipated annual state-funded payments for the principal and interest components due under the financing agreements must not exceed the difference between $17.5 million and the amount of the annual state-funded payments for the agreements entered into pursuant to House Bill 24-1231, with principal amortization not occurring before July 1, 2027. The proceeds from the financing agreements will be used for the renewal of critical building systems of Guggenheim hall at the Colorado school of mines.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

The bill establishes the Colorado domestic exchange program (program) in the Colorado department of education (department). The program facilitates a 2-week exchange program for high school seniors the summer after their high school graduation. The students participating in the program spend one week in another state and one week hosting recently graduated high school seniors from another state in the students' hometown. The bill requires the department to contract with a coordinating entity to facilitate the program. The program is contingent on the department receiving $45,000 of gifts, grants, or donations for the program by June 30, 2027.(Note: This summary applies to this bill as introduced.)