Colorado 2024 Regular Session

Colorado House Bill HB1154 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
	1	+	Second Regular Session
	2	+	Seventy-fourth General Assembly
	3	+	STATE OF COLORADO
	4	+	REREVISED
	5	+	This Version Includes All Amendments
	6	+	Adopted in the Second House
	7	+	LLS NO. 24-0703.01 Alana Rosen x2606
1	8		HOUSE BILL 24-1154
2		-	BY REPRESENTATIVE(S) Weinberg and McLachlan, Evans, Lynch,
3		-	McCluskie;
4		-	also SENATOR(S) Bridges and Lundeen, Baisley, Buckner, Coleman,
5		-	Gardner, Kirkmeyer, Michaelson Jenet, Pelton B., Pelton R., Priola, Rich,
6		-	Simpson, Smallwood, Van Winkle, Will, Zenzinger
7		-	.
	9	+	House Committees Senate Committees
	10	+	Education Education
	11	+	A BILL FOR AN ACT
8	12		C
9		-	ONCERNING SCHOOL DISTRICT BOARDS ' OF EDUCATION VOLUNTARY
10		-	INCLUSION OF INSTITUTE CHARTER SCHOOLS IN DISTRICT BALLOT
11		-	INITIATIVES TO CONTRACT WITH INSTITUTE CHARTER SCHOOLS FOR
12		-	BONDED INDEBTEDNESS
13		-	.
14		-
15		-	Be it enacted by the General Assembly of the State of Colorado:
16		-	SECTION 1. Legislative intent. The intent of this act is to:
17		-	(1) Clarify and modify the law to allow a school district board of
18		-	education to voluntarily support institute charter school facilities located
19		-	within the school district; and
20		-	(2) Provide clear guidance to a school district board of education
21		-	that decides to voluntarily support institute charter school facilities located
22		-	within the school district.
23		-	NOTE: This bill has been prepared for the signatures of the appropriate legislative
24		-	officers and the Governor. To determine whether the Governor has signed the bill
25		-	or taken other action on it, please consult the legislative status sheet, the legislative
26		-	history, or the Session Laws.
27		-	________
28		-	Capital letters or bold & italic numbers indicate new material added to existing law; dashes
29		-	through words or numbers indicate deletions from existing law and such material is not part of
30		-	the act. SECTION 2. In Colorado Revised Statutes, add 22-30.5-404.5 as
31		-	follows:
32		-	22-30.5-404.5. Discretionary inclusion of institute charter
33		-	schools in district bond elections - authority - security - legislative
34		-	intent. (1) I
35		-	N ENACTING THIS SECTION, IT IS THE INTENT OF THE GENERAL
36		-	ASSEMBLY TO RESPECT THE PRINCIPLE OF SCHOOL DISTRICT LOCAL CONTROL
37		-	AND TO PERMIT
38		-	, BUT NOT REQUIRE, SCHOOL DISTRICTS TO ACT IN THEIR SOLE
39		-	DISCRETION AND BEST INTEREST BY USING THEIR BEST JUDGMENT IN
40		-	MANAGING THE RELATIONSHIPS
41		-	, IF ANY, THEY MAINTAIN WITH AN INSTITUTE
42		-	CHARTER SCHOOL LOCATED WITHIN THE GEOGRAPHIC BOUNDARIES OF THE
43		-	SCHOOL DISTRICT
44		-	.
45		-	(2) A
46		-	SCHOOL DISTRICT MAY, IN ITS SOLE DISCRETION, ENGAGE IN
47		-	DISCUSSIONS WITH AN INSTITUTE CHARTER SCHOOL LOCATED WITHIN THE
48		-	GEOGRAPHIC BOUNDARIES OF THE SCHOOL DISTRICT CONCERNING THE
49		-	CAPITAL CONSTRUCTION NEEDS OF THE INSTITUTE CHARTER SCHOOL
50		-	.
51		-	(3) I
52		-	N ORDER FOR A SCHOOL DISTRICT TO CONSIDER , IN ITS SOLE
53		-	DISCRETION
54		-	, WHETHER TO INCLUDE THE CAPITAL CONSTRUCTION NEEDS OF
55		-	AN INSTITUTE CHARTER SCHOOL LOCATED WITHIN THE GEOGRAPHIC
56		-	BOUNDARIES OF THE SCHOOL DISTRICT IN A BALLOT QUESTION PURSUANT TO
57		-	SUBSECTION
58		-	(4) OF THIS SECTION, AN INSTITUTE CHARTER SCHOOL MUST
59		-	SUBMIT A CAPITAL CONSTRUCTION PLAN TO THE BOARD OF EDUCATION IN
60		-	WHICH IT IS GEOGRAPHICALLY LOCATED
61		-	. THE CAPITAL CONSTRUCTION PLAN
62		-	MUST INCLUDE
63		-	, BUT IS NOT LIMITED TO:
64		-	(a) R
65		-	EASONS WHY THE INSTITUTE CHARTER SCHOOL CAPITAL
66		-	CONSTRUCTION MUST BE FINANCED BY BONDED INDEBTEDNESS
67		-	;
68		-	(b) A
69		-	DESCRIPTION OF THE CAPITAL CONSTRUCTION THAT WILL BE
70		-	FINANCED BY BONDED INDEBTEDNESS
71		-	;
72		-	(c) A
73		-	DESCRIPTION OF THE ARCHITECTURAL , FUNCTIONAL, AND
74		-	CONSTRUCTION STANDARDS THAT MEET APPLICABLE STATE BUILDING CODE
75		-	REQUIREMENTS AND THAT WILL BE APPLIED TO EACH FACILITY SUBJECT TO
76		-	THE CAPITAL CONSTRUCTION PROJECT
77		-	;
78		-	(d) A
79		-	N ESTIMATE OF THE TOTAL COSTS FOR COMPLETING THE
80		-	PAGE 2-HOUSE BILL 24-1154 CAPITAL CONSTRUCTION THAT WILL BE FINANCED BY THE BONDED
81		-	INDEBTEDNESS AND
82		-	, IF ANY MONEY OTHER THAN THE BONDED
83		-	INDEBTEDNESS PROCEEDS
84		-	, INCLUDING INVESTMENTS AND INTEREST
85		-	EARNINGS
86		-	, WILL BE USED TO FINANCE THE CAPITAL CONSTRUCTION , A
87		-	BREAKDOWN OF THE MONEY THAT WILL BE USED TO FINANCE THE CAPITAL
88		-	CONSTRUCTION
89		-	;
90		-	(e) A
91		-	N ESTIMATE OF THE AMOUNT OF TIME NEEDED TO COMPLETE
92		-	THE CAPITAL CONSTRUCTION PROJECT
93		-	;
94		-	(f) A
95		-	STATEMENT ADDRESSING WHETHER THE CONSTRUCTION OR
96		-	RENOVATION
97		-	, PAYMENT OF OVERRUN COSTS , AND OTHER CAPITAL
98		-	CONSTRUCTION PROJECT ISSUES WILL BE MANAGED BY THE INSTITUTE
99		-	CHARTER SCHOOL OR THE SCHOOL DISTRICT AND WHETHER COSTS FOR
100		-	PROJECT MANAGEMENT WILL BE NEGOTIATED BETWEEN THE INSTITUTE
101		-	CHARTER SCHOOL AND THE SCHOOL DISTRICT
102		-	;
103		-	(g) R
104		-	EASONS WHY REVENUE SOURCES OTHER THAN BONDED
105		-	INDEBTEDNESS ARE INADEQUATE TO FULLY FINANCE THE INSTITUTE
106		-	CHARTER SCHOOL CAPITAL CONSTRUCTION
107		-	; AND
108		-	(h) THE INSTITUTE CHARTER SCHOOL 'S PROPOSED METHOD FOR
109		-	DISBURSEMENT OF ITS SHARE OF THE BONDED INDEBTEDNESS PROCEEDS
110		-	.
111		-	(4) A
112		-	SCHOOL DISTRICT MAY, IN ITS SOLE DISCRETION, INCLUDE THE
113		-	CAPITAL CONSTRUCTION NEEDS OF AN INSTITUTE CHARTER SCHOOL AS PART
114		-	OF A BALLOT QUESTION FOR APPROVAL OF BONDED INDEBTEDNESS TO BE
115		-	SUBMITTED BY THE SCHOOL DISTRICT TO THE VOTERS OF THE DISTRICT
116		-	.
117		-	(5) W
118		-	HEN A SCHOOL DISTRICT, IN ITS SOLE DISCRETION, WANTS TO
119		-	INCLUDE THE CAPITAL CONSTRUCTION NEEDS OF AN INSTITUTE CHARTER
120		-	SCHOOL IN A BALLOT QUESTION
121		-	, THE BOARD OF EDUCATION MUST, PRIOR TO
122		-	SUBMITTING THE BALLOT QUESTION TO THE VOTERS OF THE SCHOOL
123		-	DISTRICT
124		-	, ENTER INTO A WRITTEN AGREEMENT WITH THE INSTITUTE
125		-	CHARTER SCHOOL THAT INCLUDES
126		-	:
127		-	(a) T
128		-	HE PROCESS BY WHICH INVESTMENT AND INTEREST EARNINGS
129		-	ON BONDED INDEBTEDNESS PROCEEDS ARE DISTRIBUTED
130		-	, AND THE PROCESS
131		-	BY WHICH THE INVESTMENT AND INTEREST EARNINGS PROCEEDS AND THE
132		-	BONDED INDEBTEDNESS PROCEEDS ARE RELEASED TO THE INSTITUTE
133		-	PAGE 3-HOUSE BILL 24-1154 CHARTER SCHOOL, INCLUDING FOR DESIGN , PRE-CONSTRUCTION, AND
134		-	PROGRESS PAYMENTS
135		-	;
136		-	(b) T
137		-	HE ALLOCATION OF INVESTMENT AND INTEREST EARNINGS ON
138		-	THE BONDED INDEBTEDNESS PROCEEDS
139		-	, AND THE ALLOCATION OF THE COST
140		-	OF SUBMISSION OF THE BOND QUESTION TO THE VOTERS
141		-	, BETWEEN THE
142		-	SCHOOL DISTRICT AND THE INSTITUTE CHARTER SCHOOL
143		-	;
144		-	(c) A
145		-	LLOCATION OF THE COSTS TO SUBMIT THE BALLOT QUESTION ,
146		-	WHICH MUST BE BORNE BY BOTH THE SCHOOL DISTRICT AND THE INSTITUTE
147		-	CHARTER SCHOOL IN PROPORTION TO THE RESPECTIVE PORTIONS OF THE
148		-	TOTAL BONDED INDEBTEDNESS PROCEEDS THAT ARE TO BE RECEIVED
149		-	,
150		-	UNLESS THE SCHOOL DISTRICT AND THE INSTITUTE CHARTER SCHOOL AGREE
151		-	TO A DIFFERENT COST
152		-	-SHARING AGREEMENT;
153		-	(d) A
154		-	N AGREEMENT THAT IF THE INSTITUTE CHARTER SCHOOL 'S
155		-	CHARTER IS REVOKED OR NOT RENEWED
156		-	, IF THE INSTITUTE CHARTER SCHOOL
157		-	BECOMES INSOLVENT AND CAN NO LONGER OPERATE AS AN INSTITUTE
158		-	CHARTER SCHOOL
159		-	, OR IF THE INSTITUTE CHARTER SCHOOL OTHERWISE
160		-	CEASES TO OPERATE
161		-	, THE SCHOOL DISTRICT HAS PRIORITY IN RECOVERING
162		-	DEBT OVER ALL OTHER DEBTORS FOR COSTS AND PAYMENTS OF ALL OTHER
163		-	DEBTS SECURED BY THE CAPITAL CONSTRUCTION AND THAT THE OWNERSHIP
164		-	OF ANY CAPITAL CONSTRUCTION
165		-	, LAND, OR FACILITIES FINANCED BY THE
166		-	BONDED INDEBTEDNESS PROCEEDS AUTOMATICALLY REVERTS TO THE
167		-	SCHOOL DISTRICT
168		-	. THE SCHOOL DISTRICT MAY RELEASE ITS INTEREST IN
169		-	PROPERTY
170		-	, IN ITS SOLE DISCRETION, AFTER THE BONDED INDEBTEDNESS
171		-	PROCEEDS HAVE BEEN REDEEMED
172		-	.
173		-	(e) A
174		-	N AGREEMENT THAT THE INSTITUTE CHARTER SCHOOL SHALL
175		-	NOT ENCUMBER ANY CAPITAL CONSTRUCTION FINANCED BY BONDED
176		-	INDEBTEDNESS WITH ANY ADDITIONAL DEBT WITHOUT THE EXPRESS
177		-	APPROVAL OF THE SCHOOL DISTRICT
178		-	. IF THE SCHOOL DISTRICT DENIES
179		-	APPROVAL
180		-	, THE SCHOOL DISTRICT SHALL PROVIDE WRITTEN REASONS FOR
181		-	THE DENIAL
182		-	.
183		-	SECTION 3. In Colorado Revised Statutes, 22-42-102, amend
184		-	(2)(a)(VIII); and add (2)(a)(VIII.5) as follows:
185		-	22-42-102. Bonded indebtedness - elections. (2) (a) The board of
186		-	education of any school district, at any regular biennial school election or
187		-	PAGE 4-HOUSE BILL 24-1154 at a special election called for the purpose, shall submit to the eligible
188		-	electors of the district the question of contracting a bonded indebtedness for
189		-	one or more of the following purposes:
	13	+	ONCERNING SCHOOL DISTRICT BOARDS ' OF EDUCATION VOLUNTARY101
	14	+	INCLUSION OF INSTITUTE CHARTER SCHOOLS IN DISTRICT102
	15	+	BALLOT INITIATIVES TO CONT RACT WITH INSTITUTE CHARTER103
	16	+	SCHOOLS FOR BONDED INDEBTEDNESS .104
	17	+	Bill Summary
	18	+	(Note: This summary applies to this bill as introduced and does
	19	+	not reflect any amendments that may be subsequently adopted. If this bill
	20	+	passes third reading in the house of introduction, a bill summary that
	21	+	applies to the reengrossed version of this bill will be available at
	22	+	http://leg.colorado.gov
	23	+	.)
	24	+	The bill allows a school district board of education (school district)
	25	+	to submit to the eligible electors of the district the question of contracting
	26	+	a bonded indebtedness for capital construction or land and facilities needs
	27	+	SENATE
	28	+	3rd Reading Unamended
	29	+	April 12, 2024
	30	+	SENATE
	31	+	2nd Reading Unamended
	32	+	April 11, 2024
	33	+	HOUSE
	34	+	3rd Reading Unamended
	35	+	March 18, 2024
	36	+	HOUSE
	37	+	Amended 2nd Reading
	38	+	March 15, 2024
	39	+	HOUSE SPONSORSHIP
	40	+	Weinberg and McLachlan, Evans, Lynch, McCluskie
	41	+	SENATE SPONSORSHIP
	42	+	Bridges and Lundeen, Baisley, Buckner, Coleman, Gardner, Kirkmeyer, Michaelson
	43	+	Jenet, Pelton B., Pelton R., Priola, Rich, Simpson, Smallwood, Van Winkle, Will, Zenzinger
	44	+	Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
	45	+	Capital letters or bold & italic numbers indicate new material to be added to existing law.
	46	+	Dashes through the words or numbers indicate deletions from existing law. of an institute charter school located within the school district if:
	47	+	! The school district, in the school district's sole discretion,
	48	+	has approved support for the institute charter school's
	49	+	capital construction or land and facilities needs; and
	50	+	! The school district has obtained security or assurances, if
	51	+	any, regarding its interest in the land or facilities of the
	52	+	institute charter school that the school district retains.
	53	+	Be it enacted by the General Assembly of the State of Colorado:1
	54	+	SECTION 1. Legislative intent. The intent of this act is to:2
	55	+	(1) Clarify and modify the law to allow a school district board of3
	56	+	education to voluntarily support institute charter school facilities located4
	57	+	within the school district; and5
	58	+	(2) Provide clear guidance to a school district board of education6
	59	+	that decides to voluntarily support institute charter school facilities7
	60	+	located within the school district.8
	61	+	SECTION 2. In Colorado Revised Statutes, add 22-30.5-404.59
	62	+	as follows:10
	63	+	22-30.5-404.5. Discretionary inclusion of institute charter11
	64	+	schools in district bond elections - authority - security - legislative12
	65	+	intent. (1) IN ENACTING THIS SECTION, IT IS THE INTENT OF THE GENERAL13
	66	+	ASSEMBLY TO RESPECT THE PRINCIPLE OF SCHOOL DISTRICT LOCAL14
	67	+	CONTROL AND TO PERMIT, BUT NOT REQUIRE, SCHOOL DISTRICTS TO ACT15
	68	+	IN THEIR SOLE DISCRETION AND BEST INTEREST BY USING THEIR BEST16
	69	+	JUDGMENT IN MANAGING THE RELATIONSHIPS, IF ANY, THEY MAINTAIN17
	70	+	WITH AN INSTITUTE CHARTER SCHOOL LOCATED WITHIN THE GEOGRAPHIC18
	71	+	BOUNDARIES OF THE SCHOOL DISTRICT .19
	72	+	(2) A SCHOOL DISTRICT MAY, IN ITS SOLE DISCRETION, ENGAGE IN20
	73	+	DISCUSSIONS WITH AN INSTITUTE CHARTER SCHOOL LOCATED WITHIN THE21
	74	+	GEOGRAPHIC BOUNDARIES OF THE SCHOOL DISTRICT CONCERNING THE22
	75	+	1154-2- CAPITAL CONSTRUCTION NEEDS OF THE INSTITUTE CHARTER SCHOOL .1
	76	+	(3) IN ORDER FOR A SCHOOL DISTRICT TO CONSIDER , IN ITS SOLE2
	77	+	DISCRETION, WHETHER TO INCLUDE THE CAPITAL CONSTRUCTION NEEDS3
	78	+	OF AN INSTITUTE CHARTER SCHOOL LOCATED WITHIN THE GEOGRAPHIC4
	79	+	BOUNDARIES OF THE SCHOOL DISTRICT IN A BALLOT QUESTION PURSUANT5
	80	+	TO SUBSECTION (4) OF THIS SECTION, AN INSTITUTE CHARTER SCHOOL6
	81	+	MUST SUBMIT A CAPITAL CONSTRUCTION PLAN TO THE BOARD OF7
	82	+	EDUCATION IN WHICH IT IS GEOGRAPHICALLY LOCATED. THE CAPITAL8
	83	+	CONSTRUCTION PLAN MUST INCLUDE , BUT IS NOT LIMITED TO:9
	84	+	(a) REASONS WHY THE INSTITUTE CHARTER SCHOOL CAPITAL10
	85	+	CONSTRUCTION MUST BE FINANCED BY BONDED INDEBTEDNESS ;11
	86	+	(b) A DESCRIPTION OF THE CAPITAL CONSTRUCTION THAT WILL BE12
	87	+	FINANCED BY BONDED INDEBTEDNESS ;13
	88	+	(c) A DESCRIPTION OF THE ARCHITECTURAL , FUNCTIONAL, AND14
	89	+	CONSTRUCTION STANDARDS THAT MEET APPLICABLE STATE BUILDING15
	90	+	CODE REQUIREMENTS AND THAT WILL BE APPLIED TO EACH FACILITY16
	91	+	SUBJECT TO THE CAPITAL CONSTRUCTION PROJECT ;17
	92	+	(d) AN ESTIMATE OF THE TOTAL COSTS FOR COMPLETING THE18
	93	+	CAPITAL CONSTRUCTION THAT WILL BE FINANCED BY THE BONDED19
	94	+	INDEBTEDNESS AND, IF ANY MONEY OTHER THAN THE BONDED20
	95	+	INDEBTEDNESS PROCEEDS, INCLUDING INVESTMENTS AND INTEREST21
	96	+	EARNINGS, WILL BE USED TO FINANCE THE CAPITAL CONSTRUCTION, A22
	97	+	BREAKDOWN OF THE MONEY THAT WILL BE USED TO FINANCE THE CAPITAL23
	98	+	CONSTRUCTION;24
	99	+	(e) AN ESTIMATE OF THE AMOUNT OF TIME NEEDED TO COMPLETE25
	100	+	THE CAPITAL CONSTRUCTION PROJECT ;26
	101	+	(f) A STATEMENT ADDRESSING WHETHER THE CONSTRUCTION OR27
	102	+	1154
	103	+	-3- RENOVATION, PAYMENT OF OVERRUN COSTS , AND OTHER CAPITAL1
	104	+	CONSTRUCTION PROJECT ISSUES WILL BE MANAGED BY THE INSTITUTE2
	105	+	CHARTER SCHOOL OR THE SCHOOL DISTRICT AND WHETHER COSTS FOR3
	106	+	PROJECT MANAGEMENT WILL BE NEGOTIATED BETWEEN THE INSTITUTE4
	107	+	CHARTER SCHOOL AND THE SCHOOL DISTRICT ;5
	108	+	(g) REASONS WHY REVENUE SOURCES OTHER THAN BONDED6
	109	+	INDEBTEDNESS ARE INADEQUATE TO FULLY FINANCE THE INSTITUTE7
	110	+	CHARTER SCHOOL CAPITAL CONSTRUCTION ; AND8
	111	+	(h) THE INSTITUTE CHARTER SCHOOL'S PROPOSED METHOD FOR9
	112	+	DISBURSEMENT OF ITS SHARE OF THE BONDED INDEBTEDNESS PROCEEDS.10
	113	+	(4) A SCHOOL DISTRICT MAY, IN ITS SOLE DISCRETION, INCLUDE11
	114	+	THE CAPITAL CONSTRUCTION NEEDS OF AN INSTITUTE CHARTER SCHOOL AS12
	115	+	PART OF A BALLOT QUESTION FOR APPROVAL OF BONDED INDEBTEDNESS13
	116	+	TO BE SUBMITTED BY THE SCHOOL DISTRICT TO THE VOTERS OF THE14
	117	+	DISTRICT.15
	118	+	(5) WHEN A SCHOOL DISTRICT, IN ITS SOLE DISCRETION, WANTS TO16
	119	+	INCLUDE THE CAPITAL CONSTRUCTION NEEDS OF AN INSTITUTE CHARTER17
	120	+	SCHOOL IN A BALLOT QUESTION, THE BOARD OF EDUCATION MUST, PRIOR18
	121	+	TO SUBMITTING THE BALLOT QUESTION TO THE VOTERS OF THE SCHOOL19
	122	+	DISTRICT, ENTER INTO A WRITTEN AGREEMENT WITH THE INSTITUTE20
	123	+	CHARTER SCHOOL THAT INCLUDES :21
	124	+	(a) THE PROCESS BY WHICH INVESTMENT AND INTEREST EARNINGS22
	125	+	ON BOND INDEBTEDNESS PROCEEDS ARE DISTRIBUTED, AND THE PROCESS23
	126	+	BY WHICH THE INVESTMENT AND INTEREST EARNINGS PROCEEDS AND THE24
	127	+	BONDED INDEBTEDNESS PROCEEDS ARE RELEASED TO THE INSTITUTE25
	128	+	CHARTER SCHOOL, INCLUDING FOR DESIGN, PRE-CONSTRUCTION, AND26
	129	+	PROGRESS PAYMENTS;27
	130	+	1154
	131	+	-4- (b) THE ALLOCATION OF INVESTMENT AND INTEREST EARNINGS ON1
	132	+	THE BONDED INDEBTEDNESS PROCEEDS, AND THE ALLOCATION OF THE2
	133	+	COST OF SUBMISSION OF THE BOND QUESTION TO THE VOTERS , BETWEEN3
	134	+	THE SCHOOL DISTRICT AND THE INSTITUTE CHARTER SCHOOL ;4
	135	+	(c) ALLOCATION OF THE COSTS TO SUBMIT THE BALLOT QUESTION,5
	136	+	WHICH MUST BE BORNE BY BOTH THE SCHOOL DISTRICT AND THE6
	137	+	INSTITUTE CHARTER SCHOOL IN PROPORTION TO THE RESPECTIVE PORTIONS7
	138	+	OF THE TOTAL BONDED INDEBTEDNESS PROCEEDS THAT ARE TO BE8
	139	+	RECEIVED, UNLESS THE SCHOOL DISTRICT AND THE INSTITUTE CHARTER9
	140	+	SCHOOL AGREE TO A DIFFERENT COST -SHARING AGREEMENT;10
	141	+	(d) AN AGREEMENT THAT IF THE INSTITUTE CHARTER SCHOOL 'S11
	142	+	CHARTER IS REVOKED OR NOT RENEWED, IF THE INSTITUTE CHARTER12
	143	+	SCHOOL BECOMES INSOLVENT AND CAN NO LONGER OPERATE AS AN13
	144	+	INSTITUTE CHARTER SCHOOL , OR IF THE INSTITUTE CHARTER SCHOOL14
	145	+	OTHERWISE CEASES TO OPERATE, THE SCHOOL DISTRICT HAS PRIORITY IN15
	146	+	RECOVERING DEBT OVER ALL OTHER DEBTORS FOR COSTS AND PAYMENTS16
	147	+	OF ALL OTHER DEBTS SECURED BY THE CAPITAL CONSTRUCTION AND THAT17
	148	+	THE OWNERSHIP OF ANY CAPITAL CONSTRUCTION, LAND, OR FACILITIES18
	149	+	FINANCED BY THE BONDED INDEBTEDNESS PROCEEDS AUTOMATICALLY19
	150	+	REVERTS TO THE SCHOOL DISTRICT. THE SCHOOL DISTRICT MAY RELEASE20
	151	+	ITS INTEREST IN PROPERTY, IN ITS SOLE DISCRETION, AFTER THE BOND21
	152	+	INDEBTEDNESS PROCEEDS HAVE BEEN REDEEMED .22
	153	+	(e) AN AGREEMENT THAT THE INSTITUTE CHARTER SCHOOL SHALL23
	154	+	NOT ENCUMBER ANY CAPITAL CONSTRUCTION FINANCED BY BOND24
	155	+	INDEBTEDNESS WITH ANY ADDITIONAL DEBT WITHOUT THE EXPRESS25
	156	+	APPROVAL OF THE SCHOOL DISTRICT. IF THE SCHOOL DISTRICT DENIES26
	157	+	APPROVAL, THE SCHOOL DISTRICT SHALL PROVIDE WRITTEN REASONS FOR27
	158	+	1154
	159	+	-5- THE DENIAL.1
	160	+	SECTION 3. In Colorado Revised Statutes, 22-42-102, amend2
	161	+	(2)(a)(VIII); and add (2)(a)(VIII.5) as follows:3
	162	+	22-42-102. Bonded indebtedness - elections. (2) (a) The board4
	163	+	of education of any school district, at any regular biennial school election5
	164	+	or at a special election called for the purpose, shall submit to the eligible6
	165	+	electors of the district the question of contracting a bonded indebtedness7
	166	+	for one or more of the following purposes:8
190	167		(VIII) For supporting
191		-	A DISTRICT CHARTER SCHOOL'S ~~charter school~~
192		-	capital construction, as defined in section 22-30.5-403 (4), or ~~the land and~~
193		-	facilities needs of a
194		-	DISTRICT charter school, as defined ~~in section~~
195		-	22-30.5-403 (3), without title or ownership of
196		-	DISTRICT ~~charter school~~
197		-	capital assets being held by the school district or ownership or ~~use~~
	168	+	A DISTRICT CHARTER SCHOOL 'S charter9
	169	+	school capital construction, as defined in section 22-30.5-403 (4), or the10
	170	+	land and facilities needs of a
	171	+	DISTRICT charter school, as defined in11
	172	+	section 22-30.5-403 (3), without title or ownership of
	173	+	DISTRICT charter12
	174	+	school capital assets being held by the school district or ownership or use13
198	175		restrictions
199		-	BEING placed on the DISTRICT charter school by the ~~school~~
200		-	district;
	176	+	BEING placed on the DISTRICT charter school by the school14
	177	+	district;15
201	178		(VIII.5) F
202		-	OR SUPPORTING AN INSTITUTE CHARTER SCHOOL 'S
203		-	CHARTER SCHOOL CAPITAL CONSTRUCTION
204		-	, AS DEFINED IN SECTION
205		-	22-30.5-403 (4), OR THE LAND AND FACILITIES NEEDS OF AN INSTITUTE
206		-	CHARTER SCHOOL
207		-	, AS DEFINED IN SECTION 22-30.5-403 (5.5), BY INCLUDING
208		-	THE INSTITUTE CHARTER SCHOOL
209		-	, LOCATED WITHIN THE SCHOOL DISTRICT,
210		-	IN A BOND ELECTION CONDUCTED PURSUANT TO SECTION 22-30.5-404.5.
211		-	SECTION 4. Act subject to petition - effective date. This act
212		-	takes effect at 12:01 a.m. on the day following the expiration of the
213		-	ninety-day period after final adjournment of the general assembly; except
214		-	that, if a referendum petition is filed pursuant to section 1 (3) of article V
215		-	of the state constitution against this act or an item, section, or part of this act
216		-	within such period, then the act, item, section, or part will not take effect
217		-	unless approved by the people at the general election to be held in
218		-	PAGE 5-HOUSE BILL 24-1154 November 2024 and, in such case, will take effect on the date of the official
219		-	declaration of the vote thereon by the governor.
220		-	____________________________ ____________________________
221		-	Julie McCluskie Steve Fenberg
222		-	SPEAKER OF THE HOUSE PRESIDENT OF
223		-	OF REPRESENTATIVES THE SENATE
224		-	____________________________ ____________________________
225		-	Robin Jones Cindi L. Markwell
226		-	CHIEF CLERK OF THE HOUSE SECRETARY OF
227		-	OF REPRESENTATIVES THE SENATE
228		-	APPROVED________________________________________
229		-	(Date and Time)
230		-	_________________________________________
231		-	Jared S. Polis
232		-	GOVERNOR OF THE STATE OF COLORADO
233		-	PAGE 6-HOUSE BILL 24-1154
	179	+	OR SUPPORTING AN INSTITUTE CHARTER SCHOOL 'S16
	180	+	CHARTER SCHOOL CAPITAL CONSTRUCTION , AS DEFINED IN SECTION17
	181	+	22-30.5-403
	182	+	(4), OR THE LAND AND FACILITIES NEEDS OF AN INSTITUTE18
	183	+	CHARTER SCHOOL, AS DEFINED IN SECTION 22-30.5-403 (5.5), BY19
	184	+	INCLUDING THE INSTITUTE CHARTER SCHOOL , LOCATED WITHIN THE20
	185	+	SCHOOL DISTRICT, IN A BOND ELECTION
	186	+	CONDUCTED PURSUANT TO21
	187	+	SECTION 22-30.5-404.5. 22
	188	+	SECTION 4. Act subject to petition - effective date. This act23
	189	+	takes effect at 12:01 a.m. on the day following the expiration of the24
	190	+	ninety-day period after final adjournment of the general assembly; except25
	191	+	that, if a referendum petition is filed pursuant to section 1 (3) of article V26
	192	+	of the state constitution against this act or an item, section, or part of this27
	193	+	1154
	194	+	-6- act within such period, then the act, item, section, or part will not take1
	195	+	effect unless approved by the people at the general election to be held in2
	196	+	November 2024 and, in such case, will take effect on the date of the3
	197	+	official declaration of the vote thereon by the governor.4
	198	+	1154
	199	+	-7-