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.)
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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.)
The act reduces by $5.2 million the appropriation for the Colorado academic accelerator grant program for the 2023-24 state fiscal year, which is available for expenditure through the 2026-27 state fiscal year.(Note: This summary applies to this bill as enacted.)
Current law requires most state agencies and institutions of higher education that receive an appropriation for capital construction to set aside an amount of money equal to the recorded depreciation of the capital asset that was acquired, repaired, improved, replaced, renovated, or constructed with the appropriation (annual depreciation-lease equivalent payment) to pay for the long-term maintenance costs of the capital asset. Currently, the money that state agencies or institutions of higher education set aside for maintenance costs is credited to the capitol complex renovation fund. The act repeals the annual depreciation-lease equivalent payment requirement. Currently, the department of personnel uses the money in the capitol complex renovation fund (fund) for capital construction needs for existing state-owned buildings in the capitol complex. The act requires the state treasurer to transfer $15,263,000 from the fund to the general fund on June 30, 2026. The act also requires the state treasurer to transfer the remaining balance of the fund on June 30, 2027, to the general fund and then repeals the fund. In addition, the act repeals a reporting requirement in connection with the use of the money in the fund. The act also repeals the capitol complex master plan implementation fund, including its ongoing transfers to the fund. The act decreases multiple cash fund and general fund appropriations made in the annual general appropriation act for the 2026-27 state fiscal year to various state departments for annual depreciation-lease equivalent payments.(Note: This summary applies to this bill as enacted.)
In 2025, the general assembly authorized the department of the treasury (department) to sell insurance premium tax credits (tax credits) to insurance companies that incur state premium tax liability. The act allows the department, following the department's application process for insurance companies to purchase tax credits from the department, to sell tax credits to other entities that contract with the department. An entity that contracts with the department to purchase tax credits may transfer the tax credits once to an insurance company. The insurance company is not permitted to further transfer the tax credits following the transfer to the insurance company.(Note: This summary applies to this bill as enacted.)