SB 25-248
Fiscal Note
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
SB 25-248: REPEAL LEASE SAVINGS TRANSFER TO CAP CONSTR FUND
Prime Sponsors:
Sen. Bridges; Kirkmeyer
Rep. Bird; Taggart
Published for: Senate Appropriations
Drafting number: LLS 25-0892
Fiscal Analyst:
Matt Bishop, 303-866-4796
matt.bishop@coleg.gov
Version: Initial Fiscal Note
Date: March 31, 2025
Fiscal note status: This fiscal note reflects the introduced bill, which was recommended by the Joint
Budget Committee as part of the FY 2025-26 Long Bill budget package.
Summary Information
Overview. The bill repeals transfers to the Capital Construction Fund based on savings from terminated
private leases.
Types of impacts. The bill is projected to affect the following areas beginning in FY 2025-26:
State Transfers
Appropriations. No appropriation is required.
Table 1
State Fiscal Impacts
Type of Impact
Budget Year
FY 2025-26
Out Year
FY 2026-27
State Revenue $0 $0
State Expenditures $0 $0
Transferred Funds $0 $0
Change in TABOR Refunds $0 $0
Change in State FTE 0.0 FTE 0.0 FTE
Page 2
March 31, 2025 SB 25-248
Summary of Legislation
Under current law, when a state agency terminates a private lease, an amount equal to the lease
savings is transferred to the Capital Construction Fund. The bill repeals this requirement.
Background
Senate Bill 22-239 created a funding mechanism for renovations to the Capitol Complex by
diverting annual depreciation lease-equivalent payments from the Capital Construction Fund to
the Capitol Complex Renovation Fund. The lease termination provision repays the Capital
Construction Fund starting in FY 2023-24 by temporarily transferring lease savings there, rather
than the savings accruing to their native funds. The Capital Construction Fund is used to pay for
state construction projects, and is primarily funded by an annual General Fund transfer. There
are currently no transfers being made under the lease savings provision.
State Transfers
The bill eliminates future transfers that would have been required to the Capital Construction
Fund when a state agency terminates a private lease. Instead, this money will remain in the fund
that was used to pay for the lease.
To the extent that future transfers are eliminated, the bill decreases the balance of the Capital
Construction Fund, which offsets the annual General Fund transfer to fund the capital
construction section of the Long Bill. This increases future transfers from the General Fund to the
Capital Construction Fund.
Effective Date
The bill takes effect upon signature of the Governor, or upon becoming law without his
signature.
State and Local Government Contacts
Joint Budget Committee 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.