SENATE BILL 25-068
BY SENATOR(S) Snyder and Lundeen, Exum, Liston, Weissman;
also REPRESENTATIVE(S) Pugliese and Paschal, Bradfield, Caldwell,
English, Richardson, Bird, Duran, Johnson, Keltie, Valdez.
C
ONCERNING A MUNICIPALLY OWNED UTILITY 'S VOLUNTARY ELECTION TO
PARTICIPATE IN THE UNCLAIMED UTILITY DEPOSITS PROGRAM
.
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. In Colorado Revised Statutes, amend 40-8.5-102 as
follows:
40-8.5-102. Applicability. (1) This article shall apply
ARTICLE 8.5
APPLIES to any electric or gas utility, as defined by section 40-8.5-103;
except that this article shall apply ARTICLE 8.5 APPLIES only to those
cooperative electric associations, as defined by section 40-9.5-102, which
THAT notify the commission that they elect to come under this article
ARTICLE 8.5.
(2) E
XCEPT AS PROVIDED IN SECTION 40-8.5-106, THIS ARTICLE 8.5
DOES NOT APPLY TO MUNICIPALLY OWNED UTILITIES .
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. SECTION 2. In Colorado Revised Statutes, 40-8.5-103, amend (3)
and (4) as follows:
40-8.5-103. Definitions. As used in this article 8.5, unless the
context otherwise requires:
(3) (a) "Electric utility" means every electrical corporation operating
for the purpose of supplying electricity to the public for domestic,
mechanical, or public uses and includes every public utility supplying
electricity; except that this definition includes only those cooperative
electric associations which
THAT notify the commission that they elect to
come under this article ARTICLE 8.5.
(b) "E
LECTRIC UTILITY" DOES NOT INCLUDE A MUNICIPALLY OWNED
UTILITY
.
(4) "Gas utility" means every gas corporation operating for the
purpose of supplying gas to the public for domestic, mechanical, or public
uses and includes every public utility supplying gas;
EXCEPT THAT THIS
DEFINITION EXCLUDES MUNICIPALLY OWNED UTILITIES
.
SECTION 3. In Colorado Revised Statutes, amend 40-8.5-106 as
follows:
40-8.5-106. Unclaimed deposits. (1) Unclaimed deposits shall be
paid by the electric and gas utilities into the fund designated by the
commission pursuant to section 40-8.5-104.
(2) A
MUNICIPALLY OWNED UTILITY:
(a) M
AY ELECT TO PAY UNCLAIMED DEPOSITS INTO EITHER THE FUND
DESIGNATED BY THE COMMISSION PURSUANT TO SECTION
40-8.5-104 OR
INTO A FUND DESIGNATED BY THE GOVERNING BODY OF THE MUNICIPALLY
OWNED UTILITY TO ACCOMPLISH THE GOALS SET FORTH IN THIS ARTICLE
8.5;
AND
(b) SHALL DEFINE UNCLAIMED DEPOSITS IN A MANNER CONSISTENT
WITH THE DEFINITION OF
"UNCLAIMED MONEYS " SET FORTH IN SECTION
40-8.5-103 (5).
PAGE 2-SENATE BILL 25-068 SECTION 4. 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
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 25-068