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July 28, 2022 HB 22-1393
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
Final Fiscal Note
Drafting Number:
Prime Sponsors:
LLS 22-1034
Rep. Tipper; Soper
Sen. Gonzales, Moreno
Date:
Bill Status:
Fiscal Analyst:
July 28, 2022
Signed into Law
Anna Gerstle | 303-866-4375
Anna.Gerstle@state.co.us
Bill Topic: DISPLACED AURARIAN SCHOLARSHIP
Summary of
Fiscal Impact:
☐ State Revenue
☒ State Expenditure
☐ State Transfer
☐ TABOR Refund
☐ Local Government
☐ Statutory Public Entity
The bill creates a scholarship to fund tuition at Metropolitan State University, University
of Colorado-Denver, or Community College of Denver for the descendants of people
whose families were displaced by the development of the Auraria higher education
complex. The bill increases state expenditures in FY 2022-23.
Appropriation
Summary:
For FY 2022-23, the bill requires and includes an appropriation of $2.0 million to the
Department of Higher Education.
Fiscal Note
Status:
The fiscal note reflects the enacted bill.
Table 1
State Fiscal Impacts Under HB 22-1393
Budget Year
FY 2022-23
Out Year
FY 2023-24
Revenue - -
Expenditures General Fund $2.0 million -
Transfers - -
Other Budget Impacts General Fund Reserve $300,000 -
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July 28, 2022 HB 22-1393
Summary of Legislation
The bill creates the Displaced Aurarian Scholarship to fund tuition at Metropolitan State University,
University of Colorado-Denver, or Community College of Denver for the descendants of people
whose families were displaced by the development of the Auraria higher education complex. The bill
provides $2.0 million for scholarships, divided equally among the three institutions. The institutions
must collaborate on scholarship criteria, and each must supplement and support the investment of
scholarship funds.
State Expenditures
The bill provides $2.0 million in FY 2022-23 only to the Department of Higher Education for the
scholarship program. The department must allocate the money equally between Metropolitan State
University, University of Colorado-Denver, and the Community College of Denver, with each
institution receiving $666,666. The three institutions also will have increased workload to implement
the scholarship program, and increased expenditures to supplement the state funds with institutional
funds.
Other Budget Impacts
General Fund reserve. Under current law, an amount equal to 15 percent of General Fund
appropriations must be set aside in the General Fund statutory reserve beginning in FY 2022-23. Based
on this fiscal note, the bill is expected to increase the amount of General Fund held in reserve by the
amount shown in Table 1, which will decrease the amount of General Fund available for other
purposes.
Effective Date
The bill was signed into law by the Governor on June 8, 2022 and takes effect August 9, 2022, assuming
no referendum petition is filed.
State Appropriations
In FY 2022-23, the bill requires and includes a General Fund appropriation of $2.0 million to the
Department of Higher Education.
State and Local Government Contacts
Higher Education
The revenue and expenditure impacts in this fiscal note represent changes from current law under the bill for each
fiscal year. For additional information about fiscal notes, please visit: leg.colorado.gov/fiscalnotes.