| Summary |
Joint Budget Committee. The bill facilitates the department of
revenue's (department) relocation from the state-owned building at 1881
Pierce Street, in Denver (Pierce Street building), to a vacant facility at the
Auraria higher education center. In addition, the bill facilitates the
potential relocation of the state historical society's (also known as history
Colorado) north storage facility, which houses the state's historic
collection, to the Pierce Street building if the state historical society
determines that the Pierce Street building suits its needs. Specifically, the
bill:
•
Requires the general assembly to reduce the general fund
appropriation to the department in the executive director's
office for the purpose of leased space by $400,000 for the
2025-26 state fiscal year and each state fiscal year
thereafter through the 2028-29 state fiscal year and requires
the general assembly to make a corresponding increase in
the general fund appropriation to the department in the
executive director's office for the purpose of operating
expenses for the same fiscal years;
•
Increases the July 1, 2024, transfer from the general fund
to the capital construction fund by $1,933,931;
•
Authorizes history Colorado to use up to $1,600,000 from
money in the state museum cash fund in the 2024-25 state
fiscal year to provide a zero interest loan to the department
to facilitate the department's relocation to the Auraria
higher education center;
•
Requires the department to repay any loan made by the
state historical society in an amount equal to at least
$400,000 per year until the loan is repaid in full and to
complete the loan repayments by June 30, 2029; and
•
Beginning July 1, 2027, and continuing through June 30,
2029, allows the state historical society to reduce the
required minimum cash fund balance in the state museum
cash fund by the amount of the loan the state historical
society has made to the department as authorized in the bill.
In addition, the bill appropriates the following for the 2024-25
state fiscal year and specifies that for each appropriation, any money not
expended prior to July1, 2025, is further appropriated to the same entity
for the 2025-26 and 2026-27 state fiscal years for the same purpose:
•
$2,250,000 from the state museum cash fund to the
department of higher education for use by history Colorado
for capital construction related to the potential relocation of
the history Colorado storage facility to and renovation of
the Pierce Street building;
•
$1,600,000 from reappropriated funds received from
history Colorado pursuant to the bill to the department for
capital construction related to consolidation into a vacant
facility on the Auraria higher education campus; and
•
$1,933,931 from the capital construction fund to the
department for capital construction related to consolidation
into a vacant facility on the Auraria higher education
campus.
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