Page 1 February 14, 2022 SB 22-092 Legislative Council Staff Nonpartisan Services for Colorado’s Legislature Fiscal Note Drafting Number: Prime Sponsors: LLS 22-0686 Sen. Gardner Date: Bill Status: Fiscal Analyst: February 14, 2022 Senate Judiciary Will Clark | 303-866-4720 Will.Clark@state.co.us Bill Topic: UPDATE COLORADO PROBATE CODE Summary of Fiscal Impact: No fiscal impact. The bill clarifies how property passes when an individual dies without a will and the estate does not pass to a surviving spouse or designated beneficiary. The bill does not affect the revenue or expenditures of any state or local government and has been assessed as having no fiscal impact. Appropriation Summary: No appropriation is required. Fiscal Note Status: The fiscal note reflects the introduced bill. Summary of Legislation The bill describes how property passes when an individual dies without a will and the estate, or any part of the estate, does not pass to a surviving spouse or designated beneficiary. The bill also clarifies how estates pass to surviving descendants of a deceased parent or grandparent. Assessment of No Fiscal Impact The bill addresses the distribution of an estate, the priority for such distributions and the portion given to surviving descendants. The bill clarifies existing statute and does not substantively change procedures or processes of the trial courts. It will not affect state or local revenue or expenditures; therefore, this bill has been assessed as having no fiscal impact. Effective Date The bill takes effect 90 days following adjournment of the General Assembly sine die, assuming no referendum petition is filed. State and Local Government Contacts Information Technology Judicial Law 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.