Second Regular Session
Seventy-third General Assembly
STATE OF COLORADO
REREVISED
This Version Includes All Amendments
Adopted in the Second House
LLS NO. 22-1027.01 Jery Payne x2157
HOUSE BILL 22-1381
House Committees Senate Committees
Energy & Environment Finance
Finance Appropriations
Appropriations
A BILL FOR AN ACT
C
ONCERNING THE CREATION OF A GEOTHERMAL ENERGY GRANT101
PROGRAM TO FACILITATE THE DEVELOPMENT OF GEOTHERMAL102
ENERGY RESOURCES .103
Bill Summary
(Note: This summary applies to this bill as introduced and does
not reflect any amendments that may be subsequently adopted. If this bill
passes third reading in the house of introduction, a bill summary that
applies to the reengrossed version of this bill will be available at
http://leg.colorado.gov
.)
The bill creates the geothermal energy grant program (grant
program) in the Colorado energy office (office) within the office of the
governor. The grant program offers 3 types of grants:
! The single-structure geothermal grant, which is awarded to
applicants that are constructing new buildings and that are
SENATE
3rd Reading Unamended
May 11, 2022
SENATE
Amended 2nd Reading
May 10, 2022
HOUSE
3rd Reading Unamended
May 2, 2022
HOUSE
Amended 2nd Reading
April 29, 2022
HOUSE SPONSORSHIP
Titone and McKean, Soper, Amabile, Bacon, Bernett, Bird, Carver, Catlin, Cutter,
Froelich, Hooton, Jodeh, Kennedy, Kipp, Lindsay, Lontine, McCormick, McLachlan,
Michaelson Jenet, Ricks, Sirota, Snyder, Valdez D., Weissman
SENATE SPONSORSHIP
Winter and Woodward, Buckner, Coram, Danielson, Donovan, Ginal, Hansen, Kolker,
Lee, Moreno, Pettersen, Rankin, Simpson
Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
Capital letters or bold & italic numbers indicate new material to be added to existing statute.
Dashes through the words indicate deletions from existing statute. installing a geothermal system as the primary heating
system for the building;
! The community district heating grant, which is awarded to
support ground-source, water-source, or multisource
thermal systems that serve more than one building; and
! The geothermal electricity generation grant, which is
awarded to support the development of geothermal
electricity generation and hydrogen generation produced
from geothermal energy.
The bill sets qualifications, limits, and standards for awarding the grants.
A grantee is prohibited from using the money for any purpose not
specified in statute or in the grant application. Using the grant money for
another purpose subjects the grantee to a civil action seeking repayment.
The bill creates the geothermal energy grant fund (fund).The grant
money in the fund is allocated in the following percentages:
! Up to 40% of the total money in the fund may be awarded
in grants for cost-matching public-private partnerships to
support the development of geothermal electricity
generation and resource development, which may include
hydrogen generation produced from geothermal energy;
! Up to 60% of the total money in the fund may be awarded
in grants for constructing new buildings and remodeling
existing buildings using geothermal heating, and one-fourth
of the money must be awarded to eligible entities from or
projects in low-income, disproportionately impacted, or just
transition communities; and
! Up to 25% of the total money in the fund may be awarded
in grants to support the development of district heating
systems in new construction or to retrofit existing
buildings.
The money in the fund is continuously appropriated to implement
the grant program. The state treasurer will transfer $20 million from the
general fund to the fund.
The office administers the grant program and, in doing so, must
develop and apply criteria for evaluating and awarding grant applications
that:
! Prioritize projects in low-income, disproportionately
impacted, or just transition communities; and
! Maximize the number of additional projects that would
otherwise not occur without grant money.
Each grantee must submit an annual report to the office for 2 years
following receipt of a grant award. By February 1, 2024, and each year
thereafter, the office must submit a report to the transportation and energy
committee of the senate and the energy and environment committee of the
house of representatives. The report must include:
1381
-2- ! The grant expenditures;
! The percentage of each type of grant awarded;
! The total amount of matching funds that grantees provided
to receive a grant;
! The percentage of grants awarded to and for projects in
low-income, disproportionately impacted, or just transition
communities; and
! To the extent available, the effects of the grants on gas use,
electricity use, emissions, and energy costs.
Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. In Colorado Revised Statutes, add 24-38.5-113 as2
follows:3
24-38.5-113. Geothermal energy grant program - creation -4
procedures - fund - report - definitions - repeal. (1) Legislative5
declaration. T
HE GENERAL ASSEMBLY HEREBY FINDS AND DECLARES6
THAT:7
(a) T
HE DEVELOPMENT OF GEOTHERMAL ENERGY RESOURCES IS AN8
AVAILABLE AND PROMISING TECHNOLOGY IN THE TRANSITION FROM FOSSIL9
FUELS TO RENEWABLE ENERGY ;10
(b) T
HE DEVELOPMENT OF GEOTHERMAL ENERGY RESOURCES ,11
INCLUDING FOR HEATING, COOLING, AND ELECTRICITY GENERATION, HAS12
THE POTENTIAL TO CREATE JOBS AND HELP ADDRESS MOBILITY FOR13
WORKERS IN ENERGY PRODUCTION AND TRANSMISSION , ESPECIALLY IN14
PIPELINE-RELATED WORK;15
(c) B
UILDING NEW GEOTHERMAL SYSTEMS IN HOMES AND16
BUSINESSES WILL PROVIDE A STABLE, PREDICTABLE COST TO CONSUMERS;17
(d) S
TATE INVESTMENT IS IMPORTANT TO SUPPORT PUBLIC18
AGENCIES IN ENCOURAGING INVESTMENT IN GEOTHERMAL ENERGY FOR19
HOMES, BUILDINGS, AND ENERGY PRODUCTION;20
1381-3- (e) GEOTHERMAL ELECTRICITY GENERATION CAN PROVIDE1
OPPORTUNITIES FOR ZERO -POLLUTION, RENEWABLE ELECTRICITY2
GENERATION THAT IS NOT INTERMITTENT , INCREASING BASELOAD3
RELIABILITY FOR THE ELECTRIC GRID; AND4
(f) G
EOTHERMAL ELECTRICITY GENERATION MAY BE PAIRED WITH5
ELECTROLYZERS TO GENERATE HYDROGEN FROM WATER , PROVIDING6
ADDITIONAL ECONOMIC OPPORTUNITIES AND ZERO -POLLUTION FUELS.7
(2) A
S USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE8
REQUIRES:9
(a) "F
UND" MEANS THE GEOTHERMAL ENERGY GRANT FUND10
CREATED IN SUBSECTION (7) OF THIS SECTION.11
(b) "G
RANT PROGRAM" MEANS THE GEOTHERMAL ENERGY GRANT12
PROGRAM CREATED IN SUBSECTION (3) OF THIS SECTION.13
(c) "O
FFICE" MEANS THE COLORADO ENERGY OFFICE.14
(3) Creation of grant program. T
HERE IS HEREBY CREATED15
WITHIN THE OFFICE THE GEOTHERMAL ENERGY GRANT PROGRAM TO16
PROVIDE GRANTS TO BUILDING OWNERS , DEVELOPERS, LOCAL17
GOVERNMENTS, GEOTHERMAL INSTALLERS, CONTRACTORS, COMMUNITIES,18
GAS OR ELECTRIC SERVICE PUBLIC UTILITIES , OR OTHER ENTITIES19
APPROVED BY THE OFFICE FOR:20
(a) T
HE DEVELOPMENT OF GEOTHERMAL ELECTRICITY21
GENERATION;22
(b) T
HE INSTALLATION OF GEOTHERMAL EQUIPMENT FOR USE AS23
THE PRIMARY HEATING OR COOLING SYSTEMS IN NEW CONSTRUCTION OR24
TO RETROFIT EXISTING BUILDINGS; OR25
(c) T
HE DEVELOPMENT OF COMMUNITY THERMAL SYSTEMS THAT26
ARE USED IN NEW CONSTRUCTION OR TO RETROFIT EXISTING BUILDINGS .27
1381
-4- (4) Grants - limitations - qualifications. T HE GRANT PROGRAM1
CONSISTS OF THREE TYPES OF GRANTS:2
(a) T
HE SINGLE-STRUCTURE GEOTHERMAL GRANT , WHICH IS3
AWARDED TO APPLICANTS THAT ARE CONSTRUCTING A NEW BUILDING ,4
INCLUDING A SINGLE-FAMILY OR MULTIFAMILY RESIDENCE, AND THAT ARE5
INSTALLING A GEOTHERMAL SYSTEM FOR USE AS THE PRIMARY HEATING6
AND COOLING SYSTEM FOR THE BUILDING . A SINGLE-STRUCTURE7
GEOTHERMAL GRANT IS SUBJECT TO THE FOLLOWING LIMITATIONS AND8
QUALIFICATIONS:9
(I) A
DEVELOPER OR GEOTHERMAL INSTALLER IS ELIGIBLE FOR10
GRANTS FOR THE CONSTRUCTION OF NO MORE THAN ONE HUNDRED11
RESIDENTIAL BUILDINGS;12
(II) C
OMMERCIAL BUILDINGS AND STATE AND LOCAL GOVERNMENT13
BUILDINGS THAT ARE CONSTRUCTED USING GRANT MONEY MUST MEET THE14
STANDARDS OF THE 2021 INTERNATIONAL ENERGY CONSERVATION
CODE,15
OR SUBSEQUENT EDITION OF THE CODE ;16
(III) D
EVELOPERS, GEOTHERMAL INSTALLERS , OR COMMERCIAL17
BUILDING OWNERS THAT APPLY FOR A GRANT MUST ATTEST THAT THEY18
WILL USE LICENSED PLUMBING OR MECHANICAL CONTRACTORS THAT HAVE19
AN APPRENTICESHIP PROGRAM , AS DEFINED IN SECTION 8-83-308 (3)(a);20
(IV) T
HE OFFICE SHALL DETERMINE THE AMOUNT OF EACH GRANT21
BASED ON PER-TON HEATING CAPACITY AS FOLLOWS ; EXCEPT THAT THE22
OFFICE MAY CHANGE A GRANT AWARD AMOUNT AFTER THE FIRST YEAR IF23
THE OFFICE DETERMINES THAT C HANGES ARE NECESSARY TO ADVANCE24
GEOTHERMAL DEVELOPMENT :25
(A) A
NONRESIDENTIAL BUILDING CONSTRUCTED BY A FOR -PROFIT26
ENTITY QUALIFIES FOR UP TO
TWO THOUSAND DOLLARS PER TON OF27
1381
-5- HEATING CAPACITY;1
(B) A
NONRESIDENTIAL BUILDING CONSTRUCTED BY A NONPROFIT2
ENTITY QUALIFIES FOR UP TO
THREE THOUSAND DOLLARS PER TON OF3
HEATING CAPACITY;4
(C) A
MULTIFAMILY RESIDENCE CONSTRUCTED BY A FOR -PROFIT5
ENTITY QUALIFIES FOR UP TO
TWO THOUSAND DOLLARS PER TON OF6
HEATING CAPACITY;7
(D) A
MULTIFAMILY RESIDENCE CONSTRUCTED BY A NONPROFIT8
ENTITY QUALIFIES FOR UP TO
THREE THOUSAND DOLLARS PER TON OF9
HEATING CAPACITY; AND10
(E) A
SINGLE-FAMILY RESIDENCE, INCLUDING A RESIDENCE WITHIN11
A TOWNHOME OR CONDOMINIUM BUILDING , QUALIFIES FOR
TWO12
THOUSAND DOLLARS PER TON OF HEATING CAPACITY ; AND13
(V) T
HE GRANTS ARE SUBJECT TO THE FOLLOWING LIMIT ON THE14
NUMBER OF TONS OF HEATING CAPACITY THAT QUALIFY A BUILDING FOR15
A GRANT; EXCEPT THAT THE OFFICE MAY CHANGE THE TONNAGE AMOUNT16
AFTER THE FIRST YEAR IF THE OFFICE FINDS THAT MEETING MARKET17
DEMANDS REQUIRES THE CHANGE :18
(A) A
GRANT FOR A SINGLE-FAMILY RESIDENCE IS LIMITED TO FIVE19
TONS; AND20
(B) A
GRANT FOR A NONRESIDENTIAL BUILDING IS LIMITED TO ONE21
HUNDRED TONS;22
(b) T
HE COMMUNITY DISTRICT HEATING GRANT , WHICH IS23
AWARDED TO SUPPORT GROUND -SOURCE, WATER-SOURCE, OR24
MULTISOURCE THERMAL SYSTEMS THAT SERVE MORE THAN A SINGLE25
BUILDING. APPLICANTS MAY APPLY FOR GRANTS FOR A SCOPING STUDY , A26
DETAILED DESIGN STUDY , PROJECTS, OR A COMBINATION OF THESE27
1381
-6- OPTIONS. TEAMS CONSISTING OF BUILDING OWNERS , GEOTHERMAL1
INSTALLERS, PUBLIC UTILITIES, POLITICAL SUBDIVISIONS OF COLORADO,2
CONSULTANTS, DEVELOPERS, OR OTHER ENTITIES APPROVED BY THE3
OFFICE ARE ELIGIBLE TO SUBMIT A PROPOSAL FOR A SCOPING STUDY OR A4
DETAILED DESIGN STUDY. TO QUALIFY FOR A GRANT FOR THE PROJECT, AN5
APPLICANT MUST SUCCESSFULLY COMPLETE A STUDY AND SHOW PROOF OF6
A VIABLE PROJECT. A COMMUNITY DISTRICT HEATING GRANT IS SUBJECT7
TO THE FOLLOWING LIMITATIONS AND QUALIFICATIONS :8
(I) U
P TO ONE HUNDRED THOUSAND DOLLARS PER PROJECT TO9
CONDUCT A SCOPING STUDY TO DETERMINE IF A COMMUNITY THERMAL10
SYSTEM WOULD HELP LOWER GREENHOUSE GAS EMISSIONS AND PROVIDE11
A REASONABLE-COST APPROACH TO HEATING AND COOLING A GROUP OF12
BUILDINGS;
13
(II) U
P TO FIVE HUNDRED THOUSAND DOLLARS PER PROJECT TO14
PERFORM A DETAILED DESIGN STUDY EVALUATING ISSUES , INCLUDING THE15
FINANCIAL AND LEGAL RESPONSIBILITIES, OF THE BUILDING OWNERS THAT16
WISH TO JOIN THE COMMUNITY THERMAL SYSTEM ; AND17 (III) UP TO FIVE HUNDRED THOUSAND DOLLARS FOR THE18
INSTALLATION OF A COMMUNITY DISTRICT GEOTHERMAL PROJECT THAT19
SERVES MORE THAN ONE BUILDING FROM A SINGLE GEOTHERMAL LOOP ,20
SUBJECT TO THE FOLLOWING:21
(A) THE OFFICE MAY AWARD A GRANT OF UP TO FIFTY PERCENT OF22
THE FIRST MILLION DOLLARS OF THE COSTS OF THE PROJECT ; AND23
(B) A BUILDING OWNER, LOCAL GOVERNMENT, DEVELOPER,24
UTILITY SERVING THE ADDRESSES, OR GEOTHERMAL INSTALLER SHALL NOT25
APPLY FOR MORE THAN TWO GRANTS FOR PROJECT INSTALLATION IN A26
SINGLE YEAR.27
1381
-7- (c) THE GEOTHERMAL ELECTRICITY GENERATION GRANT , WHICH1
IS AWARDED TO SUPPORT THE DEVELOPMENT OF GEOTHERMAL2
ELECTRICITY GENERATION AND PROJECTS THAT PAIR GEOTHERMAL3
ELECTRICITY GENERATION WITH ELECTROLYZERS FOR THE PRODUCTION OF4
HYDROGEN FROM GEOTHERMAL GENERATION . A PERSON MAY APPLY FOR5
MORE THAN ONE COST -MATCHING GRANT IN A YEAR . A GEOTHERMAL6
ELECTRICITY GENERATION GRANT IS SUBJECT TO THE FOLLOWING7
LIMITATIONS AND QUALIFICATIONS:8
(I) L
OCAL GOVERNMENTS, CORPORATIONS, AND GAS OR ELECTRIC9
SERVICE PUBLIC UTILITIES ARE ELIGIBLE TO APPLY FOR AND RECEIVE THE10
GRANT;11
(II) F
OR APPLICATIONS FOR A GRANT TO HELP FUND A ST UDY TO12
IDENTIFY AND EXPLORE RESOURCES THAT MAY BE SUITABLE FOR13
GEOTHERMAL ELECTRICITY GENERATION , COSTING UP TO ONE MILLION14
DOLLARS, THE OFFICE MAY AWARD A GRANT OF UP TO FIFTY PERCENT OF15
THE STUDY COST; EXCEPT THAT, IF THE PROJECT INCLUDES THE16
PRODUCTION OF HYDROGEN FROM ELECTRICITY GENERATED USING17
GEOTHERMAL ENERGY , THE OFFICE MAY AWARD A GRANT OF UP TO SIXTY18
PERCENT OF THE STUDY COST;19
(III) F
OR APPLICATIONS FOR A GRANT TO HELP FUND A STUDY TO20
IDENTIFY AND EXPLORE RESOURCES THAT MAY BE SUITABLE FOR21
GEOTHERMAL ELECTRICITY GENERATION OR HYDROGEN GENERATION22
FROM ELECTRICITY GENERATED USING GEOTHERMAL ENERGY , COSTING23
MORE THAN ONE MILLION DOLLARS , THE OFFICE MAY AWARD A GRANT OF24
UP TO FIVE HUNDRED THOUSAND DOLLARS PER PROJECT ; AND25
(IV) F
OR PROJECTS THAT CONCERN AN IDENTIFIED POTENTIAL26
GEOTHERMAL RESOURCE BUT NEED CONFIRMATION THROUGH DRILLING27
1381
-8- AND TESTING OR THAT ARE SEEKING TO DEVELOP A PROJECT GENERATION1
SITE:2
(A) T
HE OFFICE MAY AWARD A GRANT OF UP TO FIFTY PERCENT OF3
THE FIRST MILLION DOLLARS OF THE COSTS OF THE PROJECT ;4
(B) T
HE OFFICE MAY AWARD UP TO FIVE HUNDRED THOUSAND5
DOLLARS PER PROJECT IN ADDITION TO THE AMOUNT AWARDED IN6
SUBSECTION (4)(c)(IV)(A) OF THIS SECTION; AND7
(C) A
DEVELOPER MAY APPLY FOR NO MORE THAN TWO GRANTS8
PER YEAR.9
(5) Application. T
O RECEIVE A GRANT, A PERSON MUST SUBMIT AN10
APPLICATION TO THE OFFICE IN ACCORDANCE WITH THE POLICIES AND11
PROCEDURES SPECIFIED BY THE OFFICE.12
(6) Use of grants. A
GRANTEE SHALL NOT USE THE MONEY13
RECEIVED THROUGH THE GRANT PROGRAM FOR ANY PURPOSE THAT IS NOT14
SPECIFIED IN SUBSECTION (4) OF THIS SECTION OR IN THE GRANT15
APPLICATION. IF A GRANTEE USES GRANT MONEY FOR ANY OTHER16
PURPOSE, THE GRANTEE IS SUBJECT TO A CIVIL ACTION TO RECOVER THE17
ENTIRE AMOUNT OF THE GRANT AWARD OR THE PORTION OF THE GRANT18
AWARD USED FOR THE OTHER PURPOSE .19
(7) Fund. (a) (I) T
HE GEOTHERMAL ENERGY GRANT FUND IS20
HEREBY CREATED IN THE STATE TREASURY . THE FUND CONSISTS OF21
MONEY THAT THE GENERAL ASSEMBLY MAY APPROPRIATE OR TRANSFER22
TO THE FUND.23
(II) T
HE STATE TREASURER SHALL CREDIT ALL INTEREST AND24
INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEY IN THE25
FUND TO THE FUND.26
(III) M
ONEY IN THE FUND IS CONTINUOUSLY APPROPRIATED TO THE27
1381
-9- OFFICE TO IMPLEMENT THIS SECTION.1
(b) G
RANTS MADE UNDER THIS SECTION ARE PAID OUT OF THE2
FUND.3
(c) (I) W
ITHIN FIVE BUSINESS DAYS AFTER THE EFFECTIVE DATE OF4
THIS SECTION, THE STATE TREASURER SHALL TRANSFER TWELVE
MILLION5
DOLLARS FROM THE GENERAL FUND TO THE FUND .6
(II) T
HIS SUBSECTION (7)(c) IS REPEALED, EFFECTIVE JULY 1, 2023.7
(8) Administration. (a) T
HE OFFICE SHALL ADMINISTER THE8
GRANT PROGRAM, AWARD GRANTS AS PROVIDED IN THIS SECTION , AND9
DEVELOP POLICIES AND PROCEDURES AS NECESSARY TO IMPLEMENT THE10
GRANT PROGRAM.11
(b) T
HE OFFICE SHALL AWARD GRANTS FROM THE FUND IN12
ACCORDANCE WITH THE FOLLOWING PARAMETERS :13
(I) U
P TO FORTY PERCENT OF THE TOTAL MONEY IN THE FUND MAY14
BE AWARDED THROUGH GRANTS TO SUPPORT THE DEVELOPMENT OF15
GEOTHERMAL ELECTRICITY GENERATION AND RESOURCE DEVELOPMENT ,16
WHICH MAY INCLUDE HYDROGEN GENERATION PRODUCED FROM17
GEOTHERMAL ENERGY ;18
(II) U
P TO
EIGHTY PERCENT OF THE TOTAL MONEY IN THE FUND19
MAY BE AWARDED AS SINGLE -STRUCTURE GEOTHERMAL GRANTS , AND20
ONE-FOURTH OF THE GRANT MONEY AWARDED UNDER THIS SUBSECTION21
(8)(b)(II)
MUST BE AWARDED TO ELIGIBLE ENTITIES FROM OR PROJECTS IN22
LOW-INCOME, DISPROPORTIONATELY IMPACTED , OR JUST TRANSITION23
COMMUNITIES, AS THOSE COMMUNITIES ARE DEFINED BY THE OFFICE; AND24
(III) U
P TO TWENTY-FIVE PERCENT OF THE TOTAL MONEY IN THE25
FUND MAY BE AWARDED AS COMMUNITY DISTRICT HEATING GRANTS ,26
WHICH MAY INCLUDE:27
1381
-10- (A) SINGLE-OWNER CAMPUSES;1
(B) M
EDICAL CAMPUSES;2
(C) R
ESIDENTIAL CAMPUSES;3
(D) M
ULTI-OWNER NODES; AND4
(E) P
UBLIC OR PRIVATE COLLEGE OR UNIVERSITY CAMPUSES .5
(c) T
HE OFFICE SHALL DEVELOP AND APPLY CRITERIA FOR6
EVALUATING AND AWARDING GRANT APPLICATIONS THAT :7
(I) P
RIORITIZE PROJECTS IN LOW-INCOME, DISPROPORTIONATELY8
IMPACTED, OR JUST TRANSITION COMMUNITIES; AND9
(II) M
AXIMIZE THE NUMBER OF ADDITIONAL PROJECTS THAT10
WOULD OTHERWISE NOT OCCUR WITHOUT THE GRANT MONEY .11
(9) Reporting. (a) E
ACH GRANTEE SHALL SUBMIT AN ANNUAL12
REPORT TO THE OFFICE FOR TWO YEARS FOLLOWING RECEIPT OF A GRANT13
AWARD. THE OFFICE SHALL DETERMINE THE CONTENTS OF THE REPORT .14
(b) O
N OR BEFORE FEBRUARY 1, 2024, AND ON OR BEFORE15
F
EBRUARY 1 EACH YEAR THEREAFTER THROUGH FEBRUARY 1, 2026, THE16
OFFICE SHALL SUBMIT A REPORT TO THE TRANSPORTATION AND ENERGY17
COMMITTEE OF THE SENATE AND THE ENERGY AND ENVIRONMENT18
COMMITTEE OF THE HOUSE OF REPRESENTATIVES , OR ANY SUCCESSOR19
COMMITTEE, ON THE GEOTHERMAL ENERGY GRANT PROGRAM . AT A20
MINIMUM, THIS REPORT MUST INCLUDE:21
(I) T
HE TOTAL AMOUNT OF GRANT MONEY AWARDED IN THE22
PRECEDING CALENDAR YEAR ;23
(II) T
HE TOTAL NUMBER OF GRANTS AWARDED IN THE PRECEDING24
CALENDAR YEAR, INCLUDING THE AMOUNT OF EACH GRANT ;25
(III) T
HE TOTAL AMOUNT OF GRANT MONEY AWARDED TO EACH26
GRANTEE IN THE PRECEDING CALENDAR YEAR ;27
1381
-11- (IV) THE TOTAL AMOUNT OF MATCHING FUNDS THAT GRANTEES1
PROVIDED TO RECEIVE A GRANT;2
(V) T
HE PERCENTAGE OF THE TOTAL AMOUNT OF GRANT MONEY3
AWARDED IN THE PRECEDING CALENDAR YEAR THAT WAS AWARDED AS4
EACH TYPE OF GRANT DESCRIBED IN THIS SECTION ;5
(VI) T
HE PERCENTAGE OF THE TOTAL AMOUNT OF GRANT MONEY6
AWARDED IN THE PRECEDING CALENDAR YEAR THAT WAS AWARDED TO OR7
FOR PROJECTS IN LOW-INCOME, DISPROPORTIONATELY IMPACTED , OR JUST8
TRANSITION COMMUNITIES; AND9
(VII) T
O THE EXTENT AVAILABLE, THE EFFECTS OF THE GRANTS ON10
GAS USE, ELECTRICITY USE, EMISSIONS, AND ENERGY COSTS.11
(c) T
HIS SUBSECTION (9)(c) AND SUBSECTION (9)(b) OF THIS12
SECTION ARE REPEALED, EFFECTIVE JULY 1, 2026.13
(10) T
O THE EXTENT THAT A GAS OR ELECTRIC SERVICE UTILITY14
CONTRIBUTES TO A PROJECT OR PARTNERS WITH AN ELIGIBLE ENTITY15
UNDERTAKING A PROJECT AWARDED UNDER THE GRANT PROGRAM , THE16
UTILITY MAY COUNT MASS-BASED EMISSIONS REDUCTIONS ASSOCIATED17
WITH THE PROJECT TOWARD COMPLIANCE WITH THE REQUIREMENTS18
IMPOSED BY:19
(a) R
ULES PROMULGATED UNDER SECTION 25-7-105 (1)(e)(X.7);20
(b) S
ECTION 40-3.2-108 (3)(b); OR21
(c) A
NY SIMILAR GREENHOUSE GAS EMISSION REDUCTION22
PROGRAM OR REQUIREMENT IMPOSED BY RULE OR STATUTE .23
SECTION 2. In Colorado Revised Statutes, 24-75-402, add24
(5)(vv) as follows:25
24-75-402. Cash funds - limit on uncommitted reserves -26
reduction in the amount of fees - exclusions - definitions.27
1381
-12- (5) Notwithstanding any provision of this section to the contrary, the1
following cash funds are excluded from the limitations specified in this2
section:3
(vv) T
HE GEOTHERMAL ENERGY GRANT FUND CREATED IN SECTION4
24-38.5-113
(7).5
SECTION 3. Act subject to petition - effective date. This act6
takes effect at 12:01 a.m. on the day following the expiration of the7
ninety-day period after final adjournment of the general assembly; except8
that, if a referendum petition is filed pursuant to section 1 (3) of article V9
of the state constitution against this act or an item, section, or part of this10
act within such period, then the act, item, section, or part will not take11
effect unless approved by the people at the general election to be held in12
November 2022 and, in such case, will take effect on the date of the13
official declaration of the vote thereon by the governor.14
1381
-13-