SENATE BILL 25-023
BY SENATOR(S) Pelton R. and Michaelson Jenet, Frizell, Gonzales J.,
Pelton B., Rodriguez;
also REPRESENTATIVE(S) Lindstedt, Boesenecker, Bird, McCluskie.
C
ONCERNING LOCAL GOVERNMENT AUDIT EXEMPTION THRESHOLDS .
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. In Colorado Revised Statutes, 29-1-604, amend (1)
and (2)(b) as follows:
29-1-604. Exemptions. (1) Any local government where neither
revenues nor expenditures exceed one hundred thousand dollars in any
fiscal year commencing on or after January 1, 1998,
BUT BEFORE JANUARY
1, 2025, AND WHERE NEITHER REVENUES NOR EXPENDITURES EXCEED TWO
HUNDRED THOUSAND DOLLARS FOR ANY FISCAL YEAR COMMENCING ON OR
AFTER
JANUARY 1, 2025, may, with the approval of the state auditor, be
exempt from the provisions of section 29-1-603.
(2) (b) (I) Any local government where revenues or expenditures for
any fiscal year commencing on or after January 1, 2015,
BUT BEFORE
JANUARY 1, 2025, are at least one hundred thousand dollars but not more
NOTE: This bill has been prepared for the signatures of the appropriate legislative
officers and the Governor. To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
history, or the Session Laws.
________
Capital letters or bold & italic numbers indicate new material added to existing law; dashes
through words or numbers indicate deletions from existing law and such material is not part of
the act. than seven hundred fifty thousand dollars may, with the approval of the
state auditor, be exempt from the provisions of section 29-1-603.
(II) A
NY LOCAL GOVERNMENT WHERE REVENUES OR EXPENDITURES
FOR ANY FISCAL YEAR COMMENCING ON OR AFTER
JANUARY 1, 2025, ARE
MORE THAN TWO HUNDRED THOUSAND DOLLARS BUT NOT MORE THAN ONE
MILLION DOLLARS MAY
, WITH THE APPROVAL OF THE STATE AUDITOR , BE
EXEMPT FROM THE PROVISIONS OF SECTION
29-1-603.
SECTION 2. Act subject to petition - effective date. This act
takes effect at 12:01 a.m. on the day following the expiration of the
ninety-day period after final adjournment of the general assembly; except
that, if a referendum petition is filed pursuant to section 1 (3) of article V
of the state constitution against this act or an item, section, or part of this act
within such period, then the act, item, section, or part will not take effect
unless approved by the people at the general election to be held in
PAGE 2-SENATE BILL 25-023 November 2026 and, in such case, will take effect on the date of the official
declaration of the vote thereon by the governor.
____________________________ ____________________________
James Rashad Coleman, Sr.
Julie McCluskie
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
____________________________ ____________________________
Esther van Mourik Vanessa Reilly
SECRETARY OF CHIEF CLERK OF THE HOUSE
THE SENATE OF REPRESENTATIVES
APPROVED________________________________________
(Date and Time)
_________________________________________
Jared S. Polis
GOVERNOR OF THE STATE OF COLORADO
PAGE 3-SENATE BILL 25-023