Current law requires the state treasurer to issue a warrant in the amount of $225 million to the public employees' retirement association (PERA) on July 1 of each year as a direct distribution (direct distribution) and requires PERA to allocate the direct distribution to the trust funds of each division of PERA as it would an employer contribution, in a manner that is proportionate to the annual payroll of each division, except in certain circumstances. The act changes the allocation of the direct distribution by specifying that, beginning with the direct distribution occurring on July 1, 2026, and on July 1 of each year thereafter, PERA is required to allocate the direct distribution to the trust funds of each division of PERA on an actuarial basis to maximize PERA's blended total contribution amount in a manner that limits, to the extent possible, the triggering of automatic adjustment provisions, which are triggered when PERA's divisions fall below a targeted level of funding. Beginning July 1, 2026, the act prohibits PERA from allocating any portion of the direct distribution to the local government division or the Denver public schools division; except that, beginning July 1, 2030, the Denver public schools division is no longer excluded. The act also changes the amount of PERA employer contributions that are allocated to the health care trust fund from 1.02% of member salaries to 0.52% of member salaries.(Note: This summary applies to this bill as enacted.)
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Under current law, with certain exceptions, royalties and other payments for the depletion or extraction of a natural resource on public school lands is credited to the state public school fund, which is also known as the permanent fund. The act requires that:For the 2025-26 state fiscal year, $25 million of this money be credited to the state public school fund; andFor the 2026-27 state fiscal year, $45 million of this money be credited to the state public school fund.(Note: This summary applies to this bill as enacted.)
The act repeals limited purpose fee-for-service contracts for: the career pathways program, the multidisciplinary health-care provider access training program, and the career and technical education and apprenticeship programs alignment, on June 30, 2028; and cybersecurity and distributed ledger technologies and the food systems advisory council, on June 30, 2026. The act repeals, on June 30, 2028, the multidisciplinary health-care provider access training program, the career pathways program, and the state apprenticeship agency's career and technical education and apprenticeship programs alignment requirement.(Note: This summary applies to this bill as enacted.)
The act changes the requirement for an independent evaluation of the use of 'Colorado Reading to Ensure Academic Development Act' (READ Act) money from an annual requirement to a biennial requirement. The act adds a requirement that the Colorado department of education post an annual report on its website that summarizes data from local education providers on their reading curricula; programs, services, and supports; and student progress and includes any department input on proposed program changes. The act reduces the appropriation made in the annual general appropriation act for the 2026-27 state fiscal year to the department of education from the state education fund for the early literacy program external evaluation by $750,000.(Note: This summary applies to this bill as enacted.)
The act changes the repeal date of the employment support and job retention services program (program) in the division of employment and training (division) in the department of labor and employment (department) from September 1, 2029, to July 1, 2026. The state treasurer is required to transfer all unexpended and unencumbered money in the employment support and job retention services program cash fund (fund) to the general fund on June 30, 2026. Pursuant to section 3 of the act, the appropriations made in the annual general appropriation act for the 2026-27 state fiscal year to the department for use by the division are adjusted as follows:The general fund appropriation for the fund is decreased by $250,000; andThe reappropriated funds appropriation from the fund is decreased by $250,000. A reduction of an appropriation in the annual general appropriation act for the 2026-27 state fiscal year is not required pursuant to section 3 of the act if one of the following conditions is satisfied:The amount of the general fund appropriation to the department for use by the division for the fund is less than $250,000;The amount of the reappropriated funds appropriation from the fund to the department for use by the division for the program is less than $250,000; orThe annual general appropriation act for the 2026-27 state fiscal year does not include an appropriation to the department for use by the division for the fund or the program.(Note: This summary applies to this bill as enacted.)
In current law, a person who is a member of the Colorado National Guard who is accepted for enrollment at a designated institution of higher education (member) has all their tuition costs waived. All tuition waiver costs are currently funded by the state from money in the Colorado National Guard tuition fund. The act changes the funding mechanism of the Colorado National Guard tuition waiver program by requiring each designated institution of higher education to waive the remaining balance of a member's tuition cost in excess of the amount of any private, state, or federal financial assistance received. The act requires the department of military and veterans affairs to reimburse each institution for 50% of the cost of tuition waived by the institution and requires the general assembly to appropriate money to the Colorado National Guard tuition fund to cover the reimbursement.(Note: This summary applies to this bill as enacted.)
Under existing law, the department of personnel administers the 'state procurement equity program', which includes a bond assistance program to help historically underutilized businesses that are small businesses offset the costs of obtaining a surety bond that is required for a solicitation for a state procurement opportunity. The bond assistance program is funded through the bond assistance program cash fund. The act transfers the unexpended and unencumbered balance of the bond assistance program cash fund to the general fund on June 30, 2026. The department must use any encumbered balance that remains in the fund after the transfer only to fulfill the obligations encumbering the balance of the fund. The act repeals the bond assistance program, effective December 1, 2027.(Note: This summary applies to this bill as enacted.)
The act requires a state agency, defined as any department, commission, council, board, bureau, committee, institution of higher education, agency, or other governmental unit of the executive, legislative, or judicial branch of state government that receives an appropriation or is otherwise included in the annual general appropriation act, to submit a base budget for the upcoming state fiscal year to the joint budget committee and the office of state planning and budgeting (office) on or before September 1 of each year, beginning in 2026. The act excludes specific independent agencies within the judicial department from this requirement. For these excluded agencies, the office of administrative services for independent agencies must submit a single, consolidated base budget on their behalf. A base budget is defined as the total amount appropriated in the annual general appropriation act and other legislation enacted in the prior state fiscal year plus:Out-year costs or savings from legislation adopted in prior years that were not included in the appropriations for the preceding state fiscal year; and Budget adjustments from prior years that were not included in the appropriations for the preceding state fiscal year.A state agency is required to submit its base budget using a format agreed upon by state agencies and the office, in coordination with joint budget committee staff. The act also requires the director of the office, in collaboration with the executive director of the department of personnel, to provide information related to the office's calculations for common policies, as annually submitted in the governor's November 1 budget request, to the departments, institutions, and agencies of the executive, judicial, and legislative branches of state government as soon as practicable prior to the submission of the November 1 budget request.(Note: This summary applies to this bill as enacted.)
The act repeals the requirement for the department of higher education to contract for the use of an online platform by institutions of higher education in Colorado that assists students in accessing public benefits.(Note: This summary applies to this bill as enacted.)
The act repeals the pay for success contracts program administered by the office of economic development and eliminates the pay for success contracts fund (fund) and the pay for success contracts account (account). The state treasurer must transfer all of the money in the fund and the account to the general fund on June 30, 2026.(Note: This summary applies to this bill as enacted.)