Amendments for HB25-1078
House Journal, February 11
13 HB25-1078 be amended as follows, and as so amended, be referred to
14 the Committee on Appropriations with favorable
15 recommendation:
16
17 Amend printed bill, page 4, line 14, after "MISSION," insert "AND SUBJECT
18 TO AVAILABLE APPROPRIATIONS OR GIFTS, GRANTS, OR IN-KIND
19 DONATIONS FOR THESE PURPOSES,".
20
21 Page 6, strike lines 15 through 20.
22
23 Renumber succeeding subsection accordingly.
24
25 Page 6, line 22, after "2028," insert "IF THE SERVICE HAS IMPLEMENTED
26 OUTREACH PROGRAMS AND INITIATIVES PURSUANT TO SUBSECTION (4) OF
27 THIS SECTION DURING THE PRIOR STATE FISCAL YEAR,".
28
29 Page 7, line 16, strike "(8)" and substitute "(7)".
30
31 Page 8, line 13, after "ASSEMBLY," insert "OR TO GIFTS, GRANTS, OR
32 IN-KIND DONATIONS FOR THE PURPOSES DESCRIBED IN THIS SUBSECTION
33 (5.5),".
34
35
House Journal, April 25
9 HB25-1078 be amended as follows, and as so amended, be referred to
10 the Committee of the Whole with favorable
11 recommendation:
12
13 Strike the Agriculture, Water, and Natural Resources Committee Report,
14 dated February 10, 2025, and substitute:
15
16 "Amend printed bill, strike everything below the enacting clause and
17 substitute:
18
19 "SECTION 1. In Colorado Revised Statutes, 38-13-801, amend
20 (1)(b); and add (2.6) and (2.7) as follows:
21 38-13-801. Unclaimed property trust fund - creation -
22 payments - interest - appropriations - records - rules. (1) (b) Except
23 as provided in subsections (2), (2.6), (2.7), (3), and (3.5) of this section,
24 the principal of the trust fund shall not be expended except to pay claims
25 made pursuant to this article 13. Money constituting the principal of the
26 trust fund is not fiscal year spending of the state for purposes of section
27 20 of article X of the state constitution and is not subject to appropriation
28 by the general assembly.
29 (2.6) (a) (I) ON JULY 1, 2025, THE STATE TREASURER SHALL MAKE
30 AN INTEREST-FREE LOAN IN THE AMOUNT OF FIFTY MILLION DOLLARS FROM
31 THE UNCLAIMED PROPERTY TRUST FUND TO THE DEPARTMENT OF LOCAL
32 AFFAIRS CREATED IN SECTION 24-1-125. THE DEPARTMENT MAY INITIALLY
33 USE UP TO TWO PERCENT OF THE LOAN FOR ADMINISTRATIVE COSTS.
34 (II) A LOAN MADE FROM THE UNCLAIMED PROPERTY TRUST FUND
35 TO A SEPARATE FUND WITHIN A STATE DEPARTMENT IS AN INTERFUND
36 LOAN ACCORDING TO GENERALLY ACCEPTED ACCOUNTING PRINCIPLES,
37 MEANING THE LOAN IS NOT CLASSIFIED AS REVENUE AND IS BOOKED AS AN
38 INTERFUND RECEIVABLE OR PAYABLE. THEREFORE, THE LOAN DOES NOT
39 CREATE A MULTIPLE-FISCAL-YEAR DEBT OR FINANCIAL OBLIGATION.
40 (b) (I) THE DEPARTMENT OF LOCAL AFFAIRS SHALL USE THE LOAN
41 TO CREATE A NEW ZERO-INTEREST REVOLVING LOAN PROGRAM TO BENEFIT
42 FIRE DEPARTMENTS, AS DEFINED IN SECTION 24-33.5-1202. ELIGIBLE USES
43 OF A ZERO-INTEREST LOAN MADE TO A FIRE DEPARTMENT PURSUANT TO
44 THIS SUBSECTION (2.6) MAY INCLUDE:
45 (A) THE PURCHASE OF ROLLING STOCK, SUCH AS FIRE TRUCKS,
46 BRUSH TRUCKS, AND FAST ATTACK VEHICLES, AND ASSOCIATED
47 APPARATUS FOR THOSE VEHICLES, BY A FIRE DEPARTMENT WITH AN
48 APPROVED FLEET REPLACEMENT PLAN OR WITH DOCUMENTED EVIDENCE
49 OF FIREFIGHTING APPARATUS SHORTAGES IN PAST RESPONSES TO CALLS
50 FOR SERVICE OR EMERGENCIES;
51 (B) TO PAY FOR CAPITAL IMPROVEMENTS UNDER AN ADOPTED
52 CAPITAL FACILITIES PLAN RELATED TO THE RENOVATION OF EXISTING
53 FACILITIES OR THE CONSTRUCTION OF NEW FACILITIES;
54
1 (C) THE PURCHASE OF OTHER FACILITIES, INFRASTRUCTURE, OR
2 EQUIPMENT NECESSARY TO EQUIP COLORADO'S FIREFIGHTER WORKFORCE
3 TO EFFECTIVELY RESPOND TO EMERGENCIES AND ENSURE PUBLIC SAFETY;
4 OR
5 (D) TEMPORARY BRIDGE LOANS TO COVER COSTS IN EXCESS OF
6 NORMAL OPERATING COSTS PAID BY A FIRE DEPARTMENT DUE TO ITS
7 RESPONSE TO A LOCAL, STATE, OR FEDERAL EMERGENCY.
8 (II) WITHIN NINETY DAYS AFTER THE RECEIPT OF THE LOAN BY THE
9 DEPARTMENT OF LOCAL AFFAIRS AND PRIOR TO THE DEPARTMENT MAKING
10 A LOAN UNDER THE LOAN PROGRAM, THE DEPARTMENT SHALL CONSULT
11 WITH A STATEWIDE ASSOCIATION REPRESENTING COLORADO FIRE CHIEFS,
12 A STATEWIDE ASSOCIATION REPRESENTING PROFESSIONAL FIREFIGHTERS,
13 AND THE DIVISION OF FIRE PREVENTION AND CONTROL IN THE
14 DEPARTMENT OF PUBLIC SAFETY CONCERNING THE ADOPTION OF RULES
15 AND THE ESTABLISHMENT OF POLICIES OR PROCEDURES RELATING TO THE
16 LOAN PROGRAM.
17 (III) THE DEPARTMENT MAY CHARGE AN ADMINISTRATIVE FEE OF
18 UP TO ONE-HALF OF ONE PERCENT ON THE PRINCIPAL AMOUNT OF A LOAN
19 MADE UNDER THE LOAN PROGRAM.
20 (IV) THE DEPARTMENT MAY USE EARNINGS FROM THE
21 INVESTMENT OF THE LOAN MADE TO THE DEPARTMENT BY THE STATE
22 TREASURER PURSUANT TO SUBSECTION (2.6)(a)(I) OF THIS SECTION FOR
23 THE DEPARTMENT'S REASONABLE EXPENSES FOR ADMINISTERING THE
24 LOAN PROGRAM.
25 (V) A LOAN MADE BY THE DEPARTMENT PURSUANT TO
26 SUBSECTION (2.6)(b)(I) OF THIS SECTION TO A DISTRICT, AS DEFINED IN
27 SECTION 20 (2)(b) OF ARTICLE X OF THE STATE CONSTITUTION, MUST
28 EITHER BE APPROVED BY THE VOTERS OF THE DISTRICT IN ACCORDANCE
29 WITH SECTION 20 (4)(b) OF ARTICLE X OF THE STATE CONSTITUTION OR BE
30 STRUCTURED SO THAT IT IS NOT A MULTIPLE-FISCAL-YEAR DIRECT OR
31 INDIRECT DISTRICT DEBT OR OTHER FINANCIAL OBLIGATION WHATSOEVER
32 THAT REQUIRES VOTER APPROVAL UNDER SECTION 20 (4)(b) OF ARTICLE
33 X OF THE STATE CONSTITUTION.
34 (c) (I) THE FIRE DEPARTMENT REVOLVING LOAN PROGRAM FUND,
35 REFERRED TO IN THIS SUBSECTION (2.6) AS THE "FUND", IS CREATED IN THE
36 STATE TREASURY.
37 (II) THE FUND CONSISTS OF:
38 (A) MONEY LOANED TO THE DEPARTMENT OF LOCAL AFFAIRS
39 PURSUANT TO SUBSECTION (2.6)(a)(I) OF THIS SECTION;
40 (B) LOAN ADMINISTRATION FEES RECEIVED BY THE DEPARTMENT
41 OF LOCAL AFFAIRS PURSUANT TO SUBSECTION (2.6)(b)(III) OF THIS
42 SECTION; AND
43 (C) INTEREST AND INCOME DERIVED FROM THE DEPOSIT AND
44 INVESTMENT OF MONEY IN THE FUND.
45 (III) THE STATE TREASURER SHALL CREDIT ALL INTEREST AND
46 INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY IN THE
47 FUND TO THE FUND.
48 (IV) THE MONEY IN THE FUND IS CONTINUOUSLY APPROPRIATED TO
49 THE DEPARTMENT FOR THE PURPOSES DESCRIBED IN THIS SUBSECTION (2.6)
50 AND TO PAY REASONABLE EXPENSES RELATING TO THE ADMINISTRATION
51 OF THE LOAN PROGRAM.
52 (d) THE DEPARTMENT OF LOCAL AFFAIRS SHALL PAY THE LOAN
53 BACK TO THE UNCLAIMED PROPERTY TRUST FUND NOT LATER THAN JULY
54 1, 2065. THE LOAN REPAYMENT IS SUBJECT TO FUTURE APPROPRIATION BY
55 THE GENERAL ASSEMBLY AND SHALL NOT BE DEEMED OR CONSTRUED AS
1 CREATING AN INDEBTEDNESS OF THE STATE WITHIN THE MEANING OF ANY
2 PROVISION OF THE STATE CONSTITUTION OR STATE LAW CONCERNING OR
3 LIMITING THE CREATION OF INDEBTEDNESS BY THE STATE.
4 (2.7) THE STATE TREASURER MAY INVEST MONEY FROM THE TRUST
5 FUND IN THE FIREFIGHTER FIRST HOMEOWNERSHIP PROGRAM CREATED IN
6 SECTION 38-13-801.7.
7 SECTION 2. In Colorado Revised Statutes, 24-75-402, add
8 (5)(lll) as follows:
9 24-75-402. Cash funds - limit on uncommitted reserves -
10 reduction in the amount of fees - exclusions - definitions.
11 (5) Notwithstanding any provision of this section to the contrary, the
12 following cash funds are excluded from the limitations specified in this
13 section:
14 (lll) THE FIRE DEPARTMENT REVOLVING LOAN PROGRAM FUND
15 CREATED IN SECTION 38-13-801 (2.6)(c).
16 SECTION 3. In Colorado Revised Statutes, add 38-13-801.7 as
17 follows:
18 38-13-801.7. Firefighter first homeownership program -
19 creation - report - legislative declaration - definitions. (1) THE
20 GENERAL ASSEMBLY FINDS AND DECLARES THAT HOUSING DEVELOPMENTS
21 THAT INCLUDE PREFERENCES FOR FIREFIGHTERS IN THE STATE:
22 (a) PROMOTE A SUBSTANTIAL, LEGITIMATE, AND
23 NONDISCRIMINATORY STATE INTEREST THAT CANNOT BE SERVED BY
24 ANOTHER PRACTICE WITH A LESS DISCRIMINATORY EFFECT;
25 (b) DO NOT CONSTITUTE A SOURCE OF INCOME DISCRIMINATION
26 UNDER SECTION 24-34-501 (4.5) OR 24-34-502; AND
27 (c) COMPLY WITH THE FEDERAL "FAIR HOUSING ACT", 42 U.S.C.
28 SEC. 3601 ET SEQ., PART 5 OF ARTICLE 34 OF TITLE 24, AND OTHER STATE
29 AND LOCAL LAWS, ORDINANCES, AND RESOLUTIONS.
30 (2) AS USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE
31 REQUIRES:
32 (a) "FIRE DEPARTMENT" HAS THE MEANING SET FORTH IN SECTION
33 24-33.5-1202.
34 (b) "FIREFIGHTER" MEANS AN OFFICER OR MEMBER OF A FIRE
35 DEPARTMENT.
36 (c) "PROGRAM" MEANS THE FIREFIGHTER FIRST HOMEOWNERSHIP
37 PROGRAM CREATED IN THIS SECTION.
38 (d) "PROGRAM MANAGER" MEANS THE COLORADO HOUSING AND
39 FINANCE AUTHORITY CREATED IN SECTION 29-4-704; EXCEPT THAT, IF THE
40 COLORADO HOUSING AND FINANCE AUTHORITY ELECTS AT ANY TIME NOT
41 TO SERVE AS PROGRAM MANAGER, THE STATE TREASURER SHALL SELECT
42 ANOTHER PROGRAM MANAGER.
43 (e) "TRUST FUND" MEANS THE UNCLAIMED PROPERTY TRUST FUND
44 CREATED IN SECTION 38-13-801 (1)(a).
45 (3) THERE IS CREATED THE FIREFIGHTER FIRST HOMEOWNERSHIP
46 PROGRAM TO SUPPORT FIREFIGHTER HOMEOWNERSHIP, ADDRESS
47 FIREFIGHTER SHORTAGES, AND SUPPORT THE RETENTION OF FIREFIGHTERS.
48 (4) (a) THE STATE TREASURER MAY INVEST MONEY FROM THE
49 TRUST FUND INTO THE PROGRAM; EXCEPT THAT, IF THE STATE TREASURER
50 INVESTS MONEY INTO THE PROGRAM, THE TOTAL INVESTMENT AMOUNT
51 SHALL NOT EXCEED THE SUM OF THE INVESTMENTS MADE IN ACCORDANCE
52 WITH SUBSECTION (4)(b) OF THIS SECTION.
53 (b) IF THE PROGRAM IS IMPLEMENTED:
54 (I) THE STATE TREASURER SHALL PURCHASE FROM THE PROGRAM
55 MANAGER THE MORTGAGE PRODUCTS CREATED THROUGH THE PROGRAM
1 IN TRANCHES OF REASONABLE AMOUNTS THAT ARE MUTUALLY AGREED
2 UPON BY THE STATE TREASURER AND THE PROGRAM MANAGER; AND
3 (II) THE STATE TREASURER MAY PROVIDE NOTICE OF ANY
4 DISCONTINUATION IN FUTURE INVESTMENT THE PROGRAM MANAGER HAS
5 NOT ALREADY COMMITTED TO THE PROGRAM, WHICH NOTICE MUST BE
6 PROVIDED AT LEAST SIX MONTHS PRIOR TO DISCONTINUATION.
7 (c) THE PROGRAM MANAGER SHALL ESTABLISH GUIDELINES AND
8 UNDERWRITING CRITERIA FOR THE PROGRAM THAT:
9 (I) PRIORITIZE FIRST-TIME HOMEBUYERS WHO USE THE HOME AS A
10 PRIMARY RESIDENCE;
11 (II) PROVIDE SHARED EQUITY DOWN PAYMENT ASSISTANCE TO
12 FIREFIGHTERS AND AIM TO HELP FIREFIGHTERS ACHIEVE, TO THE EXTENT
13 POSSIBLE, AFFORDABLE HOME OWNERSHIP;
14 (III) ALLOW APPRECIATION-SHARING BETWEEN THE PROGRAM AND
15 HOMEOWNER;
16 (IV) IF THE PROGRAM MANAGER IS THE COLORADO HOUSING AND
17 FINANCE AUTHORITY, PAIR A PROGRAM BORROWER WITH A FIRST
18 MORTGAGE LOAN PROVIDED THROUGH THE PROGRAM MANAGER'S
19 PARTICIPATING LENDER NETWORK THAT BEARS AN INTEREST RATE THAT
20 IS AT OR BELOW THE PREVAILING MORTGAGE RATES; AND
21 (V) SERVE HOME BUYERS ACROSS DIVERSE GEOGRAPHIC AREAS
22 AND HOUSING MARKETS.
23 (d) THE PROGRAM MANAGER IS ENTITLED TO NORMAL AND
24 CUSTOMARY FEES FOR MANAGING THE PROGRAM, INCLUDING ANY
25 CARRYING COSTS REQUIRED TO ACCOMMODATE TRANCHE PAYMENTS, PAID
26 BY THE PROGRAM OR THE PROGRAM MANAGER'S PRODUCTS AND SERVICES
27 PAIRED WITH THE PROGRAM.
28 (5) THE PROGRAM MANAGER SHALL ANNUALLY PUBLISH AND
29 PRESENT TO THE STATE TREASURER A REPORT ON PROGRAM OUTCOMES,
30 INCLUDING:
31 (a) THE NUMBER OF PROGRAM BORROWERS;
32 (b) THE GEOGRAPHIC DISTRIBUTION OF PROGRAM BORROWERS;
33 (c) THE AREA MEDIAN INCOME OF PROGRAM BORROWERS; AND
34 (d) THE MEDIAN PURCHASE PRICE, MEDIAN LOAN AMOUNT, AND
35 AVERAGE INTEREST RATE ON FIRST MORTGAGES FOR PROGRAM
36 BORROWERS WHO BENEFIT FROM THE PROGRAM.
37 (6) NOTHING IN THIS SECTION PREVENTS LEVERAGING OTHER
38 SOURCES OF STATE OR LOCAL MONEY FOR THE PROGRAM.
39 SECTION 4. Safety clause. The general assembly finds,
40 determines, and declares that this act is necessary for the immediate
41 preservation of the public peace, health, or safety or for appropriations for
42 the support and maintenance of the departments of the state and state
43 institutions.".
44
45 Page 1, line 101, strike "RESOURCES," and substitute "RESOURCES.".
46
47 Page 1, strike lines 102 through 112.".".
48
49
Senate Journal, May 1
After consideration on the merits, the Committee recommends that HB25-1078 be
amended as follows, and as so amended, be referred to the Committee on Appropriations
with favorable recommendation.
Amend reengrossed bill, page 3, line 3, strike "(2.6)" and substitute "(2)(e),
(2.6),".
Page 3, after line 11 insert:
"(2) (e) IF CLAIMS MADE PURSUANT TO THIS ARTICLE 13 EXCEED THE
BALANCE IN THE UNCLAIMED PROPERTY TRUST FUND, THE STATE TREASURER
SHALL TRANSFER FROM THE GENERAL FUND TO THE UNCLAIMED PROPERTY
TRUST FUND AN AMOUNT NEEDED TO PAY THE CLAIMS AND SHALL NOTIFY THE
JOINT BUDGET COMMITTEE OF THE GENERAL ASSEMBLY OF THE TRANSFER AND
THE AMOUNT OF THE TRANSFER FROM THE GENERAL FUND.".
Page 3, line 12, after "(I)" insert "(A)".
Page 3, line 13, strike "FIFTY" and substitute "TWENTY-FIVE".
Page 3, after line 16 insert:
"(B) ON JULY 1, 2026, THE STATE TREASURER SHALL MAKE AN
INTEREST-FREE LOAN IN THE AMOUNT OF TWENTY-FIVE MILLION DOLLARS FROM
THE UNCLAIMED PROPERTY TRUST FUND TO THE DEPARTMENT OF LOCAL
AFFAIRS CREATED IN SECTION 24-1-125. THE DEPARTMENT MAY INITIALLY USE
UP TO TWO PERCENT OF THE LOAN FOR ADMINISTRATION COSTS.".
Page 3, line 23, strike "LOAN" and substitute "LOANS".
Page 4, line 17, strike the second "THE" and substitute "A".
Page 4, line 18, after "AFFAIRS" insert "PURSUANT TO SUBSECTION (2.6)(a)(I) OF
THIS SECTION,".
Page 4, line 24, strike "AND" and substitute "OR".
Page 5, line 3, strike "LOAN" and substitute "LOANS".
Page 5, after line 6 insert:
"(V) NOTWITHSTANDING SUBSECTIONS (2.6)(b)(III) AND (2.6)(b)(IV)
OF THIS SECTION, TO THE EXTENT FEASIBLE, THE DEPARTMENT SHALL MANAGE
THE COMBINED REVENUE GENERATED THROUGH ADMINISTRATIVE FEES
CHARGED PURSUANT TO SUBSECTION (2.6)(b)(III) OF THIS SECTION AND
INVESTMENT EARNINGS PURSUANT TO SUBSECTION (2.6)(b)(IV) OF THIS
SECTION, SO AS NOT TO EXCEED THE DEPARTMENT'S ADMINISTRATIVE COSTS
OVER THE LIFE OF THE LOAN PROGRAM.".
Renumber succeeding subparagraph accordingly.
Page 6, lines 7 and 8, strike "THE LOAN BACK" and substitute "BACK THE LOANS
MADE TO THE DEPARTMENT PURSUANT TO SUBSECTION (2.6)(a)(I) OF THIS
SECTION".
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