First Regular Session
Seventy-fifth General Assembly
STATE OF COLORADO
INTRODUCED
LLS NO. 25-0586.01 Megan McCall x4215
SENATE BILL 25-006
Senate Committees House Committees
Local Government & Housing
A BILL FOR AN ACT
C
ONCERNING AUTHORIZATION FOR TH E STATE TREASURER TO INVEST101
STATE MONEY FOR THE CREATION OF AFFORDABLE FOR -SALE102
HOUSING IN THE STATE.103
Bill Summary
(Note: This summary applies to this bill as introduced and does
not reflect any amendments that may be subsequently adopted. If this bill
passes third reading in the house of introduction, a bill summary that
applies to the reengrossed version of this bill will be available at
http://leg.colorado.gov
.)
The bill authorizes the state treasurer to invest up to $50 million
of state money in bonds that may have below-market interest rates that are
issued by a quasi-governmental entity if the proceeds of the bonds are
used for the creation of affordable for-sale housing that otherwise would
not be created without the state's investment. Money from redemption of
SENATE SPONSORSHIP
Roberts,
HOUSE SPONSORSHIP
Rutinel and Bradfield,
Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
Capital letters or bold & italic numbers indicate new material to be added to existing law.
Dashes through the words or numbers indicate deletions from existing law. such bonds may be reinvested by the state treasurer for the same purpose.
Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. Legislative declaration. (1) The general assembly2
finds and declares that:3
(a) The creation of affordable homeownership opportunities is4
essential to ensure the health of Colorado's workforce and the vitality of5
Colorado's community and thereby serves a public purpose; and6
(b) Affordable homeownership opportunities provide housing7
stability for Colorado's workforce and facilitate intergenerational wealth.8
(2) The general assembly further find and declares that there are9
fewer sources of public subsidies available for affordable homeownership10
as opposed to affordable rental housing.11
(3) It is therefore the intent of the general assembly to create an12
avenue for the state to invest, and reinvest, state money for the creation13
of affordable for-sale housing, thereby creating affordable14
homeownership opportunities within the state.15
SECTION 2. In Colorado Revised Statutes, 24-36-113, add (8)16
as follows:17
24-36-113. Investment of state money - limitations.18
(8) (a) S
UBJECT TO THE REQUIREMENTS SET FORTH IN SUBSECTION (8)(b)19
OF THIS SECTION, THE STATE TREASURER MAY INVEST MONEY IN BONDS20
THAT ARE ISSUED BY QUASI -GOVERNMENTAL AUTHORITIES FOR THE21
PURPOSE OF CREATING AFFORDABLE FOR -SALE HOUSING WITHIN THE22
STATE. NOTWITHSTANDING SUBSECTION (1)(a) OF THIS SECTION, AN23
INVESTMENT ALLOWED PURSUANT TO THIS SUBSECTION (8) MAY HAVE A24
BELOW-MARKET RATE OF INTEREST.25
SB25-006-2- (b) (I) AN INVESTMENT MADE AS AUTHORIZED BY SUBSECTION1
(8)(a)
OF THIS SECTION MUST CREATE AFFORDABLE FOR -SALE HOUSING2
WITHIN THE STATE THAT , WITHOUT SUCH INVESTMENT , WOULD NOT3
OTHERWISE BE CREATED.4
(II) T
HE INITIAL INVESTMENT OF MONEY THAT IS INVESTED IN5
ACCORDANCE WITH THIS SUBSECTION (8) MUST NOT EXCEED FIFTY MILLION6
DOLLARS.7
(III) A
NY ASSETS CONSTRUCTED USING PROCEEDS OF BONDS8
INVESTED IN PURSUANT TO SUBSECTION (8)(a) OF THIS SECTION MUST BE9
INSURED BY AN INDUSTRY-RECOGNIZED ENTITY AT LEVELS CONSISTENT10
WITH THE STATE TREASURER 'S INVESTMENT POLICIES AND HAVE11
REASONABLE LEVELS OF LIQUIDITY CONSISTENT WITH THE STATE12
TREASURER'S INVESTMENT POLICIES.13
(IV) T
HE STATE TREASURER MAY REINVEST MONEY RECEIVED14
FROM REDEMPTION OF AN INVESTMENT MADE PURSUANT TO THIS15
SUBSECTION (8) IN ACCORDANCE WITH THIS SUBSECTION (8).16
SECTION 3. Act subject to petition - effective date. This act17
takes effect at 12:01 a.m. on the day following the expiration of the18
ninety-day period after final adjournment of the general assembly; except19
that, if a referendum petition is filed pursuant to section 1 (3) of article V20
of the state constitution against this act or an item, section, or part of this21
act within such period, then the act, item, section, or part will not take22
effect unless approved by the people at the general election to be held in23
November 2026 and, in such case, will take effect on the date of the24
official declaration of the vote thereon by the governor.25
SB25-006
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