Page 1
April 1, 2024 HB 24-1154
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
Revised Fiscal Note
(replaces fiscal note dated February 2, 2024)
Drafting Number:
Prime Sponsors:
LLS 24-0703
Rep. Weinberg; McLachlan
Sen. Bridges; Lundeen
Date:
Bill Status:
Fiscal Analyst:
April 1, 2024
Senate Education
Anna Gerstle | 303-866-4375
anna.gerstle@coleg.gov
Bill Topic: INSTITUTE CHARTER SCHOOLS & BOND INDEBTEDNESS
Summary of
Fiscal Impact:
☐ State Revenue
☒ State Expenditure
☐ State Transfer
☐ TABOR Refund
☐ Local Government
☒ School District
The bill allows a school district board of education to ask voters to approve bond
indebtedness for the capital construction, land, or facility needs of a charter school
authorized by the Charter School Institute. The bill minimally increases state and
school district workload on an ongoing basis.
Appropriation
Summary:
No appropriation is required.
Fiscal Note
Status:
The fiscal note reflects the reengrossed bill.
Summary of Legislation
The bill allows a school district board of education to ask voters to approve bond indebtedness
for the capital construction, land, or facility needs of a charter school authorized by the state
Charter School Institute (CSI school) The bill specifies the process for a school district that
decides to include a CSI school in a ballot measure, including a requirement that the CSI school
submit a capital construction plan, and that the school district and CSI school enter into a
written agreement to address allocation of costs and investment earnings, and debt recovery if
the CSI school ceases to operate.
State Expenditures
The bill minimally increases workload for the Colorado Department of Education and the CSI to
update materials and provide any technical support to districts and CSI schools that wish to
pursue bonded indebtedness. No change in appropriations is required.
Page 2
April 1, 2024 HB 24-1154
School District
The bill increases workload for any school board who chooses to consider whether to approve a
ballot question related to bonded indebtedness for a CSI school. Geographically, there are
currently CSI schools located in the following school districts around the state:
Adams 12;
Aurora;
Brighton 27J;
Colorado Springs;
Commerce City;
Douglas;
Durango;
Eagle;
Jefferson County;
Mesa Valley;
Montezuma Cortez;
Poudre;
Roaring Fork;
Salida;
Steamboat Springs; and
Westminster.
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
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 the General Assembly website.