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July 23, 2024 SB 24-053
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
Final Fiscal Note
Drafting Number:
Prime Sponsors:
LLS 24-0465
Sen. Coleman
Rep. Herod; Ricks
Date:
Bill Status:
Fiscal Analyst:
July 23, 2024
Signed into Law
John Armstrong | 303-866-6289
john.armstrong@coleg.gov
Bill Topic: RACIAL EQUITY STUDY
Summary of
Fiscal Impact:
☒ State Revenue
☒ State Expenditure
☐ State Transfer
☐ TABOR Refund
☐ Local Government
☐ Statutory Public Entity
The bill requires History Colorado to study the ongoing effects of slavery and
subsequent systemic racism on Black Coloradans that may be attributed to practices,
systems, and policies of the state, and establishes a commission to assist this effort
and to contract for an economic impact study. The bill increases state expenditures
through FY 2026-27, assuming sufficient gifts, grants, and donations are received.
Appropriation
Summary:
No appropriation is required. The Black Coloradan Racial Equity Study Cash Fund is
continuously appropriated to History Colorado and the Legislative Department.
Fiscal Note
Status:
This final fiscal note reflects the enacted bill.
Table 1
State Fiscal Impacts Under SB 24-053
1
Budget Year
FY 2024-25
Out Year
FY 2025-26
Out Year
FY 2026-27
Revenue Cash Funds $785,000 $419,612 $582,043
Total Revenue $785,000 $419,612 $582,043
Expenditures Cash Funds $526,811 $481,111 $530,486
Centrally Appropriated $98,345 $98,345 $51,557
Total Expenditures $625,156 $579,456 $582,043
Total FTE 5.3 FTE 5.3 FTE 2.8 FTE
Transfers - - -
Other Budget Impacts - - -
1
The bill intends for all costs to be paid from gifts, grants, and donations to the Black Coloradan Racial Equity Study
Cash Fund, and creates a trigger of $785,000 received for work to begin. The fiscal note assumes that enough
funding will be received to cover the costs shown in Table 1 through FY 2026-27. If adequate funding is not
received, History Colorado is not required to conduct the study. Page 2
July 23, 2024 SB 24-053
Summary of Legislation
The bill establishes the Black Coloradan Racial Equity Commission within the Legislative
Department to conduct a study to determine, and make recommendations related to, any
potential historical and ongoing effects of slavery and subsequent systemic racism on Black
Coloradans that may be attributed to practices, systems, and policies of the state.
Historical research for the study will be conducted by History Colorado staff in the Department
of Higher Education and Legislative Council Staff will assist the commission. The bill establishes
quarterly reporting requirements to the commission on study progress. History Colorado must
submit the study to the commission and any recommendations within 2.5 years. At this point,
the commission must enter into an agreement with one or more third-party entities to complete
an economic analysis of the financial impact of systemic racism on Black Coloradans.
The work of the commission and the study hinge on receiving adequate gifts, grants, and
donations. History Colorado is not required to conduct the study if adequate funding is not
received. Gifts, grants, and donations are credited to the newly created Black Coloradan Racial
Equity Study Cash Fund. Money in the fund is continuously appropriated to History Colorado
and the Legislative Department. The fund must raise at least $785,000 by June 30, 2025, in order
for the study to occur; otherwise, the funds are returned to the donors.
The Commission consists of the Executive Director of History Colorado and Governor, Speaker of
the House, and President of the Senate appointees, totaling 14 members, including two
Representatives and two Senators. Non-legislative members of the committee serve without
compensation but may be reimbursed for expenses incurred. The bill establishes timelines for
the commission to meet and the topics of their study.
State Revenue
The bill is expected to increase state revenue to the Black Coloradan Racial Equity Study Cash
Fund by at least $785,000 in FY 2024-25, and by amounts adequate to cover state expenditures
thereafter, as shown in Tables 1 and 2. Gifts, grants, and donations will cover the cost to conduct
the study, fund the work of the commission, and contract for an economic analysis, as required
by the bill. The fiscal note assumes that sufficient gifts, grants, and donations will be received by
July 1, 2024, for the budget year costs, in order for History Colorado and the commission to start
work immediately. Gifts, grants, and donations are not subject to the state’s TABOR revenue
limit.
State Expenditures
The bill increases state expenditures from the Black Coloradan Racial Equity Study Cash Fund by
about $625,000 in FY 2024-25, $579,000 in FY 2025-26, and $582,000 in FY 2026-27.
Expenditures will not be incurred if adequate gifts, grants, and donations are not received.
Expenditures are shown in Table 2 and detailed below.
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July 23, 2024 SB 24-053
Table 2
Expenditures Under SB 24-053
FY 2024-25 FY 2025-26 FY 2026-27
History Colorado
Personal Services $384,291 $384,291 $192,145
Operating Expenses $6,400 $6,400 $3,200
Capital Outlay Costs $33,350 - -
Meetings and Facilitation $12,350 - -
Travel $5,280 $5,280 -
Research Consultants $50,000 $50,000 -
Centrally Appropriated Costs
1
$93,576 $93,576 $46,788
FTE – Personal Services 5.0 FTE 5.0 FTE 2.5 FTE
History Colorado Subtotal $585,247 $539,547 $242,133
Legislative Department
Personal Services $22,039 $22,039 $22,039
Legislator Per-Diem and Travel Reimbursement $5,661 $5,661 $5,661
Non-Legislator Travel Reimbursement $7,440 $7,440 $7,440
Economic Study - - $300,000
Centrally Appropriated Costs
1
$4,769
$4,769
$4,769
FTE – Personal Services 0.3 FTE 0.3 FTE 0.3 FTE
Legislative Department Subtotal $39,910 $39,910 $339,910
Total Cost $625,156 $579,456 $582,043
Total FTE 5.3 FTE 5.3 FTE 2.8 FTE
1
Centrally appropriated costs are not included in the bill's appropriation.
History Colorado. History Colorado will have staff, consulting, and meeting costs to meet the
bill’s requirements, as outlined below.
Staff. History Colorado require 5.0 FTE to conduct research to complete the study and
report. These staff include 1.0 FTE Program Manager and 4.0 FTE Research Associates
specializing in fiscal impacts, educational impacts, criminal justice impacts, and health care
impacts to Black Coloradans. Standard operating expenses and capital outlay costs are
included for this staff, and costs assume a July 1, 2024, start date, and a December 1, 2026,
end date. Page 4
July 23, 2024 SB 24-053
Meeting expenses and travel. Meeting costs are estimated at $12,350 in FY 2024-25 only,
assuming two facilitated public comment meetings. Travel costs are included for research
staff through FY 2025-26.
Research consultants. History Colorado will contract with other research agencies, including
community representatives, descendant scholars, survivors of racism, and other experts in
order to complete the study. Costs assume 200 hours of research consultation at a rate of
$250 per hour.
Legislative Department. Legislative Council Staff requires 0.3 FTE Research Associate to
provide support to the commission as they meet to conduct the study. Additionally, the four
legislative members of the commission may incur up to $5,661 in per diem and expense
reimbursements per year, and the ten non-legislative members may incur up to $7,440 in
expense reimbursements per year. In FY 2026-27, the Legislative Department requires an
estimated $300,000 for the commission to contract for an economic study; actual costs will
depend on the terms of contract following the procurement process.
Governor’s Office. Workload will minimally increase for the Governor’s Office of Boards and
Commissions to make the required appointment under the bill. This work can be accomplished
within existing appropriations.
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.
Technical Note
Cash fund appropriations. The bill continuously appropriates funding to two separate agencies
from a single newly created cash fund. For accounting purposes, the bill should make a direct,
annual appropriation to one or both agencies to ensure that spending does not exceed available
revenue in the fund.
Effective Date
The bill was signed into law by the Governor on June 4, 2024, and takes effect on
August 7, 2024, assuming no referendum petition is filed, except that work on the study
does not occur unless the state receives gifts, grants, or donations of at least $785,000 by
June 30, 2025.
State and Local Government Contacts
History Colorado Legislative Council Staff
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.