| AI Summary |
SB25-206 – Colorado FY 2025–26 Budget Bill: Definitions, Provisions, and State Reserve Allocations
This bill defines appropriation procedures, funding categories, and emergency reserves for the State of Colorado's FY 2025–26 budget. It sets the rules, funding sources, and fiscal controls governing how state money can be spent, classified, and reported across all agencies and departments.
- Emergency Reserve Designation (Section 1)
Establishes the State Emergency Reserve for FY 2025–26, as required by the Taxpayer’s Bill of Rights (TABOR). Reserve funds can be used in case of disaster or emergency.
- Reserve Funds Total: Sourced from multiple cash funds and state assets:
- Disaster Emergency Fund: $169.2M
- State Emergency Reserve Cash Fund: $164.2M
- Marijuana Tax Cash Fund: $100M
- Unclaimed Property Tourism Fund: $28.5M
- Major Medical Insurance Fund: $25M
- Colorado Water Conservation Board Construction Fund: $33M
- Severance Tax Perpetual Base Fund: $35M
- State-owned property (Capitol Annex + Garage): $39.8M (combined)
- Appropriations and Budget Structure (Section 2)
Outlines how appropriated funds are classified, labeled, and controlled in the annual budget:
- Funding Types:
- General Fund
- General Fund Exempt
- Cash Funds (fees, fines, taxes)
- Reappropriated Funds (transfers within state entities)
- Federal Funds
- Expenditure Limits and Classifications:
- Each fund type has its maximum allowable expenditure
- Line items may include codes such as:
- (M): Federal match limit (reduces if federal funds increase)
- (H): Cash/reappropriated funds matched with federal funds
- (L): Local government funds (informational only)
- (I): Informational only; not appropriated but included for transparency
- Federal Funds Handling
- Certain block grants (e.g., Title XX, TANF) are subject to strict expenditure limits and matching rules.
- Other anticipated federal funds are tracked but not formally appropriated—used for budgeting assumptions.
- Policy Conditions and Fiscal Controls
- The state is not obligated to continue non-state-funded programs if funding ends.
- Prohibits state money going to entities that discriminate based on protected characteristics (e.g., sex, race, religion).
- State Controller must ensure all contracts match budget appropriations; no agency may exceed its authorized budget.
Summary
SB25-206 is the statutory framework for Colorado’s annual budget, defining how appropriations are made, how reserves are structured, and how funds are controlled and labeled. It also ensures compliance with constitutional requirements, manages interactions with federal funding, and maintains transparency and legal limits on state spending for FY 2025–26.
|
