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March 27, 2024 HB 24-1403
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
Fiscal Note
Drafting Number:
Prime Sponsors:
LLS 24-1104
Rep. Bird; Sirota
Sen. Zenzinger; Bridges
Date:
Bill Status:
Fiscal Analyst:
March 27, 2024
House Appropriations
Josh Abram | 303-866-3561
josh.abram@coleg.gov
Bill Topic: HIGHER EDUCATION SUPPORT HOMELESS YOUTH
Summary of
Fiscal Impact:
☐ State Revenue
☒ State Expenditure
☐ State Transfer
☐ TABOR Refund
☐ Local Government
☐ Statutory Public Entity
Budget package bill. The bill creates a financial aid program for students who have
experienced homelessness. The bill increases state expenditures beginning
FY 2024-25.
Appropriation
Summary:
For FY 2024-25, the bill includes appropriations totaling about $1.7 million to
two agencies. See State Appropriations section.
Fiscal Note
Status:
The fiscal note reflects the introduced bill. The bill is recommended by the Joint
Budget Committee as part of its FY 2024-25 budget package.
Table 1
State Fiscal Impacts Under HB 24-1403
Budget Year
FY 2024-25
Out Year
FY 2025-26
Revenue - -
Expenditures General Fund $1,694,436 $1,681,674
Centrally Appropriated $36,794 $36,794
Total Expenditures $1,731,230 $1,718,468
Total FTE 2.0 FTE 2.2 FTE
Transfers - -
Other Budget Impacts General Fund Reserve $254,165 $252,251
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March 27, 2024 HB 24-1403
Summary of Legislation
The bill creates the Financial Assistance Program for Students Experiencing Homelessness in the
Department of Higher Education (DHE). Beginning in the 2024-25 academic year, public
institutions of higher education must provide financial assistance to qualifying students for the
remaining balance of the student’s total cost of attendance, minus financial aid received for the
student’s first 132 semester hours (198 quarter hours).
Eligibility. A qualifying student is a resident of Colorado between 17 and 26 years old, who has
been accepted to an institution and has been identified by school personnel as a homeless child
while having resided in the state at any time during high school.
Funding. The General Assembly is required to appropriate money to the Colorado Commission
on Higher Education (CCHE) to cover 50 percent of the cost of providing the remaining balance
of financial assistance. The CCHE must allocate the assistance to the schools. For FY 2024-25, the
bill appropriates about $1.7 million to the DHE and about $26,000 to the CDE for the program.
Liaisons. Each public institution of higher education is required to designate one employee as a
liaison for qualifying students to provide information regarding application assistance, financial
aid, and other support services. The DHE is required to employ at least one employee as a
financial aid and application navigator for qualifying students, prospective qualifying students,
and school district staff.
Data. The DHE and the Colorado Department of Education (CDE) must enter a data-sharing
agreement to identify and support prospective qualifying students. By December 1, 2024, and
each December thereafter, school districts must provide the CDE with data identifying
prospective qualifying students. By January 2, 2025, and each January 2 thereafter CDE must
provide the school district data to DHE.
State Expenditures
The bill increases state expenditures in the DHE by about $1.7 million, and in the CDE by about
$31,000, in both FY 2024-25 and FY 2025-26. All expenses are from the General Fund.
Expenditures are shown in Table 2 and detailed below.
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March 27, 2024 HB 24-1403
Table 2
Expenditures Under HB 24-1403
FY 2024-25 FY 2025-26
Department of Higher Education
Personal Services $152,481 $152,481
Operating Expenses $2,560 $2,560
Capital Outlay Costs $13,340 -
Financial Aid $1,500,000 $1,500,000
Centrally Appropriated Costs
1
$32,114 $32,114
FTE – Personal Services 1.8 FTE 2.0 FTE
DHE Subtotal $1,700,495 $1,687,155
Colorado Department of Education
Personal Services $26,055 $26,632
Centrally Appropriated Costs
1
$4,680 $4,680
FTE – Personal Services 0.2 FTE 0.2 FTE
CDE Subtotal $30,735 $31,313
Total $1,731,230 $1,718,468
Total FTE 2.0 FTE 2.2 FTE
1
Centrally appropriated costs are not included in the bill's appropriation.
Department of Higher Education. DHE will incur costs for staff and financial aid to institutions
of higher education.
Staff. The DHE will add 2.0 FTE as a financial aid and application navigators to assist
qualifying students and to coordinate with counselors in public school districts and at
institutions of higher education. Personal services include standard operating expenses and
capital outlay costs.
Financial aid. The DHE will allocate $1.5 million annually to institutions of higher education
to pay the 50 percent of qualifying student’s remaining financial assistance. The fiscal note
assumes that institutions will over the other 50 percent through existing financial aid
allocations.
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March 27, 2024 HB 24-1403
Colorado Department of Education. CDE will have an increase in costs to work with DHE to
execute the necessary data sharing agreements and to assist local education providers with
protocols for identifying prospective qualifying students, and safely reporting personally
identifying information. CDE will add 0.2 FTE to the Office of Dropout Prevention and Student
Reengagement to execute data sharing with DHE and manage data collection with school
districts and distribution to DHE.
Institutions of higher education. All institutions of higher education will have an increased
cost to hire or designate liaisons for homeless students and to provide application and financial
aid assistance to qualifying students.
Centrally appropriated costs. Pursuant to a Joint Budget Committee policy, certain costs
associated with this bill are addressed through the annual budget process and centrally
appropriated in the Long Bill or supplemental appropriations bills, rather than in this bill. These
costs, which include employee insurance and supplemental employee retirement payments, are
shown in Table 2.
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. Based on this fiscal note,
the bill is expected to increase the amount of General Fund held in reserve by the amounts
shown in Table 1, decreasing the amount of General Fund available for other purposes.
Effective Date
The bill takes effect upon signature of the Governor, or upon becoming law without his
signature.
State Appropriations
For FY 2024-25, the bill includes the following General Fund appropriations:
$1,668,381 to the Department of Higher Education, and 1.8 FTE; and
$26,055 to the Colorado Department of Education, and 0.2 FTE.
State and Local Government Contacts
Education 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 the General Assembly website.