The act extends the Emily Keyes - John W. Buckner organ and tissue donation awareness fund indefinitely. (Note: This summary applies to this bill as enacted.)
Section 1 of the act requires, in addition to othr existing uses, that interest and income earned on the investment of the money in the public school fund to be used to pay for the costs of administering a newly created shared equity down payment assistance program. Section 2 requires at least one member of the public school fund investment board (board) to have expertise in community investments, requires the board to direct the state treasurer to securely invest money deposited in the public school fund in a manner that prioritizes specified new investment objectives, and authorizes the board to enter into contracts with investment advisors or other investment professionals to provide advice on community investments. Section 3 extends the time frame under which the state treasurer may make up a loss of principal to the public school fund by taking actions which lead to gains in the fund from 18 to 24 months. Section 4 creates a new community investment portfolio (portfolio) within the public school fund, and requires the state treasurer to invest at least 20% of the public school fund's value into the community investment portfolio by July 1, 2032. Money in the portfolio must be invested in community investments, and allowable community investments include: Bonds issued by Colorado school districts and charter schools; Certificates of participation issued by Colorado school districts and charter schools; Mortgage pass-through securities and collateralized mortgage obligations secured by residential real estate, the majority of which is owned by public school employees; Loans to the Colorado middle income housing authority for a revolving loan fund that funds rental housing developments that include preferences for public school employees; Bonds issued by the middle income housing authority that fund rental housing developments which include preferences for public school employees; Bonds or mortgage-backed securities issued by the Colorado housing and finance authority that fund rental housing developments that include preferences for public school employees or mortgages secured by residential real estate, the majority of which is owned by public school employees; Mortgage revenue bonds that support public school employee mortgages with interest rates of 3% or less; Loans to community development financial institutions or nonprofits with a history of providing affordable home ownership financing that fund: Housing that includes preferences for public school employees; or Low-interest mortgages secured by residential real estate that is owned by public school employees; Down payment shared appreciation products secured by residential real estate that is owned by public school employees; and Other investments that support public purpose of the portfolio. The educator first home ownership program (program) is created within the portfolio. Subject to a specified limitation, the treasurer shall invest the following amounts in the program by the following dates: By July 1, 2028, the greater of 6% of the fund's value or $100 million; and By July 1, 2030, the greater of 12% of the fund's value or $200 million. The treasurer shall aim to invest a target of 75% of the money in the program into the shared equity down payment assistance program for public school employees. The shared equity down payment assistance program must be established by July 1, 2026. Once the shared equity down payment assistance program is established: The public school fund investment board shall purchase from the program manager the mortgage products created through the shared equity down payment assistance program; and The public school investment board may provide notice of any discontinuation of future investments that the program manager has not already committed to the shared equity down payment assistance program, which notice must be provided at least 6 months prior to discontinuation. The treasurer shall aim to invest a target of 25% of the money in the program into allowable community investments. The program manager shall establish underwriting criteria and other guidelines for the shared equity down payment assistance program so that the shared equity down payment assistance program: Prioritizes first-time home buyers that use the home as a primary residence; Provides shared equity down payment assistance to public school employees and aims to help as many public school employees as possible achieve affordable home ownership; and Allows appreciation-sharing between the shared equity down payment assistance program and the borrower. Unless investments in the shared equity down payment assistance program have been discontinued and there is no fund money invested in the shared equity down payment assistance program, the program administrator shall present an annual report to the board on program outcomes. For the 2025-26 state fiscal year, section 5 appropriates $375,900 from interest or income earned on the investment of the money in the public school fund to the department of the treasury. (Note: This summary applies to this bill as enacted.)
For state fiscal years commencing on or after July 1, 2025, the act repeals the requirement that the general assembly annually appropriate $3 million from the marijuana tax cash fund (fund) to the board of regents of the university of Colorado for the implementation of the medication-assisted treatment expansion pilot program (program) but allows the general assembly to choose to appropriate money for the implementation of the program. Accordingly, the cash funds appropriation from the fund made in the general appropriation act for the 2025-26 state fiscal year for this purpose is decreased by $3 million. The act also repeals the requirement that the state treasurer transfer $20 million from the fund to the public school capital construction assistance fund on June 1, 2026. Finally, beginning July 1, 2025, the act changes the apportionment of the proceeds collected from the retail marijuana sales tax (tax revenue) between the state and local governments so that local governments receive 3.5% rather than 10% of the tax revenue and the state retains 96.5% rather than 90% of the tax revenue. The 6.5% increase of the tax revenue that the state retains is apportioned to the fund. On or after November 1, 2027, but before April 1, 2028, the joint budget committee is required to review the percentage of the tax revenue that is allocated to local governments to determine whether the percentage continues to be appropriate and recommend any necessary modifications to the general assembly. (Note: This summary applies to this bill as enacted.)
In the Colorado Revised Statutes, the act moves existing definitions into existing or new definition sections so that a reader may easily locate the definitions applicable to the relevant law. The act makes the changes without making substantive changes to the law. (Note: This summary applies to this bill as enacted.)
Colorado law allows a local government to establish local minimum wages in excess of the statewide minimum wage established in the state constitution. A local government that enacts a minimum wage must provide a tip offset for tipped employees in an amount equal to the tip offset amount described in the state constitution, which is $3.02. The act states that on and after January 1, 2026, a local government that has enacted a code or an ordinance imposing a minimum wage that exceeds the state minimum wage may increase the amount of the tip offset associated with the local minimum wage; except that a local government shall not impose a tip offset in an amount that allows a tipped employee to earn less than the state minimum wage minus $3.02. (Note: This summary applies to this bill as enacted.)
Current law states that rules adopted by the marijuana enforcement division (division) may include certain subjects. The act states that: Rules concerning record keeping may include certain information and must include certain other information; and The rules may require medical marijuana products manufacturers or retail marijuana products manufacturers to use an approved licensed premises and approved equipment to manufacture and prepare products not infused with regulated marijuana for the purpose of quality control and research and development in the formulation of regulated marijuana products. If a license holder is required to maintain books and records in the seed-to-sale inventory tracking system, the license holder need not maintain duplicate copies of the books and records. If a license holder violates regulatory requirements, the division may require the license holder to maintain additional records. The act states that the division may adopt rules concerning identification cards for controlling beneficial owners, passive beneficial owners, or individuals who handle or transport regulated marijuana on behalf of license holders. Current law requires all applicants for an employee identification card to obtain a fingerprint-based criminal history check. The act requires only controlling beneficial owners and passive beneficial owners to obtain a fingerprint-based criminal history record check, and other employees must merely obtain a name-based judicial record check. The act requires that rules adopted by the division concerning video recording requirements must include rules to address specific aspects of such surveillance. The act authorizes the division to notify license holders by digital communication of their license expiration date. Current law authorizes marijuana cultivation facilities and marijuana products manufacturers to provide research and development units (R-and-D units) to managers and sets standards for the practice. The act reforms these standards with regard to labeling, testing, packaging, and tracking. The act also prohibits a facility or manufacturer from committing certain acts involving R-and-D units and requires the division to adopt rules concerning the issuance of R-and-D units to occupational licensees. The act repeals provisions that prohibit a person from: Having a controlling beneficial ownership, passive beneficial ownership, or indirect financial interest in a license that was not disclosed; Having day-to-day operational control over the business if the person isn't a Colorado resident; and Engaging in transfer of ownership without prior approval. The act authorizes the division to set and collect a fee to fulfill requests for copies of a license application. Current law requires a person that accepts a court appointment as a receiver, personal representative, executor, administrator, guardian, conservator, trustee, or any other similarly situated person for a medical marijuana business to notify the state and local licensing authorities of the appointment and apply for a finding of suitability. Current law also prohibits a person from possessing, operating, managing, or controlling a medical marijuana business on behalf of another except by court appointment . The act applies these laws to retail marijuana businesses. The act provides that on July 1, 2025, and July 1, 2026, the state treasurer will transfer $300,000 from the general fund to the marijuana entrepreneur fund. The appropriation to the division from the marijuana cash fund in the annual general appropriation act for the 2025-26 state fiscal year is decreased by $25,883 if certain conditions apply. The appropriation to the Colorado bureau of investigation from the Colorado bureau of investigation identification unit fund made in the annual general appropriation act for the 2025-26 state fiscal year is decreased by $252,645 if certain conditions apply. (Note: This summary applies to this bill as enacted.)
The act creates a civil cause of action for a peace officer if the peace officer reports or discloses conduct that is in violation of, or the peace officer reasonably believes is in violation of, any law or policy and the report or disclosure is a contributing factor in the employer of the peace officer's decision to take adverse employment action against the peace officer. A peace officer may seek the following damages: Reinstatement; Back pay with interest; Any other equitable relief the court deems appropriate; Compensatory damages for other pecuniary losses, emotional pain and suffering, inconvenience, mental anguish, loss of enjoyment of life, and other nonpecuniary losses; and Reasonable attorney fees and costs. The act creates an affirmative defense to the action if the peace officer's employer would have taken the action that forms the basis of the suit against the peace officer based on a legitimate nonretaliatory basis. The action is not subject to the "Colorado Governmental Immunity Act". The statute of limitations to bring the action is 2 years. The act does not apply to an employee who provides false information or who does not follow internal reporting and administrative procedures related to whistleblower conduct. All law enforcement agencies shall provide a training to employees or a workplace posting, or both, regarding the requirements of the act. (Note: This summary applies to this bill as enacted.)
The act requires the executive director of the department of revenue to allow a sales and use tax license and a sales and use tax exemption certificate to be searchable by the name and identification number of the sales and use tax licensee or the sales and use tax exemption certificate holder. (Note: This summary applies to this bill as enacted.)
The act creates the Colorado sexual assault forensic medical evidence review board (board), consisting of the attorney general, or their designee, as board chair; the executive director of the Colorado district attorneys' council, or their designee; and various members appointed by the attorney general or the governor. The board's duties include reviewing and monitoring processes related to sexual assault response, making recommendations to improve sexual assault response, and submitting an annual report concerning its duties. The act creates a notification requirement under the "Victim Rights Act" that requires a law enforcement agency to notify a victim every 90 days when the law enforcement agency has not received the results of the forensic medical evidence DNA analysis from an accredited crime laboratory. The act requires an accredited crime laboratory to endeavor to analyze forensic medical evidence within 60 days after its receipt. The act expands public reporting requirements concerning forensic medical evidence and DNA evidence backlogs. For the 2025-26 state fiscal year, the act appropriates $112,365 from the general fund to the department of law for use by the administration division to implement the act. (Note: This summary applies to this bill as enacted.)
The act extends the time frame within which a governing body of a city, town, or city and county with jurisdiction in an area within the wildland-urban interface is required to adopt wildfire codes and standards that meet or exceed the wildfire resiliency code board's wildfire codes and standards from 3 to 9 months after the board's adoption of wildfire codes and standards. The act allows a governing body to enter into a cooperative agreement with another entity, such as a third-party contractor or another governing body, in order to enforce wildfire codes and standards. (Note: This summary applies to this bill as enacted.)
