Sen. William Lindstedt

The act creates the employee ownership office (office), which was originally created administratively by the governor in 2020 as a statutory entity within the office of economic development (OED). The act also creates a refundable income tax credit for income tax years 2025 to 2029 for up to 50% of specified costs incurred by new employee-owned businesses, not to exceed $50,000. New employee-owned businesses are defined as businesses that have been employee-owned for 7 or fewer years. The tax credit is administered by the office, which may allocate up to $1.5 million in tax credits per year. The office is required to include information on the effectiveness of the tax credit in OED's annual report to the general assembly. The act also creates the employee ownership cash fund, which is to be used by the office for the administration of the tax credit and consists of fees collected from applications for the tax credit. The tax credit and cash fund are repealed on January 1, 2035. For the 2024-25 state fiscal year, $145,847 is appropriated from the general fund to the office of the governor for use for the employee ownership office. APPROVED by Governor June 4, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)

Under current law, if maintenance, repair, or construction activities are occurring or will occur within 4 hours on a portion of a state highway, the Colorado department of transportation (department) is permitted, but not required, to designate the portion of the highway as a highway maintenance, repair, or construction zone. The act: Removes the 4-hour time period relating to maintenance, repair, or construction activities that will occur on a portion of a state highway but maintains the 4-hour time period relating to maintenance, repair, or construction zones that are not on a state highway; and Requires the department to designate a portion of a state highway on which construction activities are occurring as a highway construction zone. APPROVED by Governor June 3, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)

The act implements the recommendations of the department of regulatory agencies (department) contained in the department's 2023 sunset review of the state board of licensure for architects, professional engineers, and professional land surveyors (board). The act: Continues the regulation of architects, professional engineers, and professional land surveyors for 9 years, until September 1, 2033; Includes in the grounds for discipline of licensees a failure to respond to the allegations of a complaint within the length of time specified by the board; Updates statutory references to the names of examinations for professional engineers and professional land surveyors; Repeals the requirement that board members be citizens of the United States and residents of Colorado; Repeals the requirement that applicants supply a business address on a license application; Grants the board rule-making authority to establish continuing education requirements; Removes the ability of an individual to obtain a license as an architect, professional engineer, or professional land surveyor or a qualification as a land surveyor-intern through the occupational credential portability program; Requires an applicant for licensure by endorsement as an architect to hold a license in good standing from another jurisdiction with qualification requirements that are substantially equivalent to the qualification requirements in this state; and Makes a technical amendment to replace gendered pronouns with gender-neutral terms. APPROVED by Governor June 3, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)

The capitol building advisory committee (committee) advises the general assembly regarding the protection of the historic character of the capitol building and other buildings in the capitol annex. The act: Clarifies that it is the general assembly's intent that the committee will advise the general assembly regarding the protection of the capitol building's historic character, including its art, memorials, furniture, and architectural fixtures; Clarifies that the ex officio members of the committee are voting members of the committee in accordance with current practice; Adds the capitol building annex to the list of buildings for which the committee is required to review, advise, and make recommendations to the capital development committee regarding plans to restore, redecorate, and reconstruct historic elements of the building; Specifies the buildings and areas within the capitol complex for which the committee may engage in long-range planning for modifications and improvements; Requires the committee to determine, based on consultation with and the recommendations of history Colorado, which art, memorials, architectural fixtures, and furniture that is original to the state capitol building is part of the state's collection of historic materials known as the Colorado collection (Colorado collection); and Clarifies that the committee has authority over publications on the history of the state capitol building and that the committee may authorize other state capitol building memorabilia for sale to the public. In addition, history Colorado, at the direction and under the supervision of the committee, is required to inventory all art, memorials, architectural fixtures, and furniture that is original to the state capitol building and make recommendations to the committee regarding which items are appropriate for inclusion in the Colorado collection. The act specifies that history Colorado holds in trust for the people of Colorado any items original to the capitol building that are part of the Colorado collection, but that the committee retains authority over the collection on behalf of the general assembly and in accordance with the policies and requirements of the state register of historic properties. APPROVED by Governor June 3, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)

The act creates the 911 services enterprise in the department of regulatory agencies (enterprise). The enterprise is authorized to impose a fee on service users (fee). A service user is a person who is provided a 911 access connection in the state. The fee is set annually by the enterprise and, together with the 911 surcharge that the public utilities commission (commission) imposes on service users for the benefit of meeting the needs of governing bodies to pay for basic emergency service and provide emergency telephone service (911 surcharge) and must not exceed $0.50 per month per 911 access connection. The fee is collected in the same manner as the 911 surcharge. Revenue from the fee will fund expenses and costs related to the provision of 911 services, including: Training initiatives and programs and public education campaigns for the public as determined by individual governing bodies or public safety answering points (PSAPs) throughout the state; Public education campaigns; Cybersecurity support; GIS programs; Grant programs for the benefit of governing bodies and PSAPs; Providing matching money for federal, state, or private grants related to 911 services or emergency notification services; Any other items related to a benefit for governing bodies and PSAPs for 911 services across the state as proposed by a group of such entities or by statewide associations representing Colorado 911 stakeholders; and Administrative expenses of the enterprise. The act also creates the 911 services enterprise cash fund, adds a requirement for the commission to include in its "state of 911" annual report the activity of the enterprise including its use of its revenue, and makes several technical updates to the statutes concerning the 911 surcharge and the commission's "state of 911" report. For the 2024-25 state fiscal year, the act appropriates $107,695 from the general fund to the department of regulatory agencies and reappropriates $38,406 of that appropriation to the department of law to implement the act. APPROVED by Governor May 31, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)

The division of housing (division) within the department of local affairs must submit an annual public report on the funding of affordable housing preservation and production (public report). The act requires that the division include in the report specific information on uses of existing state and federal funds to provide best use of subsidies to maximize unit production and confirmation of rules and practices to ensure developments are not disqualified for funding support from the division if the development has previously received money from funds established by proposition 123. The act further requires the division to add to the public report information on applications for affordable housing programs that the division administers, including the number of applications approved, denied, and pending, the amount of money awarded from approved applications, and the amount of money applied for but not awarded from denied applications. The act also requires the division to add to the public report information regarding money in the housing development grant fund, including amounts in the fund and the use of the money in the preceding year, and information about the timing for drafting, delivering, and executing contracts that are required in connection with receiving money from the fund. The act also establishes procedures and timelines for the division to follow for affordable housing programs administered by the division. The act requires that the division accept applications once a quarter, with the cycle beginning at the start of a state fiscal year, and requires that the division review applications and issue any requests for additional information, forms, or questions to applicants within 10 calendar days of an application period closing. The division is required to publish the application schedule by May 1 for the upcoming cycle and update the schedule 60 days before the start of the next quarter; except that the division must publish the application schedule for the second half of the 2024-25 state fiscal year by November 1, 2024. If the division will not be accepting applications for any affordable housing program for an upcoming quarter, the division must publish notice of this with an explanation as to why applications won't be accepted for the program. The division must either issue final decisions on applications or submit applications to the board of housing for final decision within 45 days following the submission of completed applications. If applications are submitted to the state housing board, the state housing board must make a final decision on an application at its next regularly scheduled meeting. After a final decision approving an application, the division shall issue an award letter that includes information on the timeline for issuing money to the applicant, any terms for a loan or grant period, and any conditions that must be met before a contract in connection with the approval is executed. The division shall also provide a draft contract to the approved applicant within 30 days of the application being approved. Within 90 days of the division receiving a substantially complete post-award due diligence package from an approved applicant, the division shall execute any required contracts for the affordable housing program and send it to the approved applicant within 10 days of execution; except that the 90 day period pauses for the period from when an approved applicant receives a preliminary draft contract from the division until the division receives the executed contract from the approved applicant. The act also amends existing grant, loan, and other affordable housing programs administered by the division to require the application process to be followed for any applications submitted under these programs and requires any programs that have adopted policies, procedures, or guidelines for the application process to be amended if they are inconsistent with the application process established by the act. The act also modifies the "City Housing Law". The act expands the term "housing project" to include the provision of dwelling accommodations to persons without regard to income as long as the housing project substantially benefits persons of low income. The act clarifies that, in addition to the authority to construct a housing project, a city is authorized to acquire, own, or lease a housing project and that a city can manage, operate, and maintain, or contract for the management, operation, and maintenance of any housing project owned or leased by the city. The act adds an alternative option to the requirement that the city deliver possession of a housing project to a housing authority within the city's boundaries to instead allow the city to contract with a nonprofit or private entity to manage, maintain, and operate the housing project. The act also allows a community land trust or nonprofit affordable housing homeownership developer or its authorized agent that is applying for a property tax exemption with the division of property taxation to submit only one application and one annual report if the property that is the subject of the exemption application and report has been subdivided. However, the application and the report must be accompanied by payment not to exceed the aggregate amount of payments that would be required if individual applications or reports were filed for each parcel and once a subdivided parcel has been split into a separate taxable parcel from the improvements and is leased to the owner of the improvements, the developer or their designee must file an individual annual report for the subdivided parcel. APPROVED by Governor May 31, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)

The act requires a court to award reasonable attorney fees to a prevailing governmental entity in an action for judicial review of a local land use decision involving residential use with a net project density of 5 dwelling units per acre or more, except for an action brought by the land use applicant before the governmental entity. Filing an action for judicial review of a local land use decision does not affect the validity of the local land use decision. The act authorizes a governmental entity and the public to rely on the local land use decision in good faith for all purposes until the action for judicial review is resolved. APPROVED by Governor May 30, 2024 EFFECTIVE May 30, 2024(Note: This summary applies to this bill as enacted.)

The act expands the types of programs a pathways in technology early college high school (p-tech school) may focus on beyond science, technology, engineering, and mathematics. Under current law, the college opportunity fund program provides a stipend for eligible undergraduate students in Colorado. Generally, an eligible undergraduate student is ineligible to receive a stipend for more than 145 credit hours during the student's lifetime. The act makes an exception to this lifetime limitation for college-level credit hours earned while the eligible undergraduate student was enrolled in a concurrent enrollment program, the accelerating students through concurrent enrollment program, the teacher recruitment education and preparation program, or a p-tech school. APPROVED by Governor May 30, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)

The act creates a pilot program for an income tax credit for owners of qualified housing developments focused on rental housing for middle-income individuals and families. Middle-income individuals and families have an annual household income between 80% and 120% of the area median income of the households of the same size in the county in which the housing development is located; except that, for rural resort counties, the annual income is between 80% and 140% of the respective area median income. During the calendar years commencing on January 1, 2025, and ending on December 31, 2029, the owner of a qualified housing development may be allocated a credit by the Colorado housing and finance authority (CHFA). The amount of the credit is determined by CHFA. The allocation of credits must follow CHFA's published allocation plan and the aggregate amount of credits allocated in one calendar year, not including any unallocated credits from preceding years that may be allocated, cannot exceed: $5 million for calendar year 2025; $5 million for calendar year 2026; $10 million for calendar year 2027; $10 million for calendar year 2028; and $10 million for calendar year 2029. The aggregate amount of any unallocated credits remaining as of December 31, 2029, is added to the amount of credits that CHFA may allocate for the state affordable housing tax credit. The allocated credit amount may be used to offset a qualified taxpayer's income taxes each year for a period of 5 years, beginning in the year that the qualified housing development is placed in service. Although the credit may only be claimed for a 5-year period, the owner is required to provide middle-income housing in the qualified housing development for 15 years. A portion of the credit may be recaptured under certain conditions, for instance when the owner reduces the number of units serving middle-income individuals and families. In addition, the credit is allowed against insurance premium taxes for eligible taxpayers that are not subject to income taxes. A governmental or quasi-governmental entity, including the middle-income housing authority, may be allocated a credit if it owns a qualified housing development. A credit allocated to a governmental or quasi-governmental entity is subject to the same conditions, allocation rights, and recapture as a credit allocated to a qualified owner; except that a governmental or quasi-governmental entity may also transfer credits to any qualified taxpayer. The act also requires CHFA to annually report on the middle-income housing tax credit pilot program to the general assembly, to make the report publicly available, and, as part of CFHA's final annual report, to provide certain information summarizing the overall success of the pilot program. The middle-income housing tax credit is repealed on January 1, 2055. APPROVED by Governor May 30, 2024 EFFECTIVE May 30, 2024(Note: This summary applies to this bill as enacted.)

The "Colorado Digital Token Act" provides limited exemptions from the securities registration and securities broker-dealer and salesperson licensing requirements for persons dealing in digital tokens. "Digital token" is defined in the "Colorado Digital Token Act" as a digital unit with specified characteristics that is: Secured through a decentralized ledger or database; Exchangeable for goods or services; and Capable of being traded or transferred between persons without an intermediary or custodian of value. The act repeals the "Colorado Digital Token Act". APPROVED by Governor May 17, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)