SB 25-262
Fiscal Note
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
SB 25-262: CHANGES TO MONEY IN THE CAPITAL CONSTRUCTION FUND
Prime Sponsors:
Sen. Amabile; Kirkmeyer
Rep. Bird; Taggartt
Published for: House Second Reading
Drafting number: LLS 25-0928
Fiscal Analyst:
Matt Bishop, 303-866-4796
matt.bishop@coleg.gov
Version: Third Revised Note
Date: April 8, 2025
Fiscal note status: This revised fiscal note reflects the reengrossed bill, as amended by the House
Appropriations Committee. This bill was recommended by the Joint Budget Committee as part of the
FY 2025-26 Long Bill budget package.
Summary Information
Overview. The bill makes transfers to fund capital construction and information technology projects and
transfers interest earnings and reversions from capital and IT capital appropriations to the General Fund.
Types of impacts. The bill is projected to affect the following areas on an ongoing basis:
State Transfers State Diversions
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 $153.8 million $0
Diverted Funds $12.5 million $12.5 million
Change in TABOR Refunds $0 $0
Change in State FTE 0.0 FTE 0.0 FTE
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April 8, 2025 SB 25-262
Table 1A
State Transfers
Fund Source
Budget Year
FY 2025-26
Out Year
FY 2026-27
General Fund -$150,055,466 $0
General Fund Exempt -$500,000 $0
Marijuana Tax Cash Fund -$3,230,000 $0
Capital Construction Fund $129,998,033 $0
IT Capital Account $23,787,433 $0
Net Transfer $0 $0
Table 1B
State Diversions
Fund Source
Budget Year
FY 2025-26
Out Year
FY 2026-27
General Fund $12.5 million $12.5 million
Cash Funds -$12.5 million -$12.5 million
Net Diversions $0 $0
Summary of Legislation
The bill transfers $154 million for capital construction and information technology projects in
FY 2025-26.
Under current law, unappropriated money in the Capital Construction Fund, including the
IT Capital Account, remains in the fund to be used for future construction or information
technology projects. This typically occurs from interest earnings and reversions from underspent
appropriations. Beginning with FY 2025-26, the bill directs these interest earnings and reversions
to the General Fund.
State Transfers
Scheduled Transfers
The bill requires the following transfers on July 1, 2025:
$129,498,033 from the General Fund to the Capital Construction Fund;
$20,557,433 from the General Fund to the IT Capital Account of the Capital Construction
Fund; Page 3
April 8, 2025 SB 25-262
$3,230,000 from the Marijuana Tax Cash Fund to the IT Capital Account of the Capital
Construction Fund; and
$500,000 from the General Fund Exempt Account to the Capital Construction Fund.
Future Transfers of Unspent Funds
In addition, the bill transfers any unappropriated, unencumbered balance in the Capital
Construction Fund and the IT Capital Account to the General Fund at the end of each fiscal year.
This amount varies from year to year and has not been estimated. For informational purposes,
the average transfer for the last three fiscal years if this bill’s requirements were in effect would
have been about $10 million.
Because these cash funds are primarily funded by a transfer from the General Fund, the current
practice of keeping unspent money in the funds has the practical impact of reducing the
amount transferred from the General Fund in the following fiscal year. Transferring this money
to the General Fund will allow future General Fund transfers to the Capital Construction Fund
and the IT Capital Account to align more closely with project funding amounts.
State Diversions
The bill diverts interest earned on the Capital Construction Fund and the IT Capital Account to
the General Fund. This reduces revenue available in those funds and increases it by the same
amount to the General Fund. The amount of interest revenue generated depends on interest
rate and fund balance, which is affected by the timing of when capital expenditures occur from
these funds. Based on interest earnings in recent years, about $12.5 million per year will be
diverted from the Capital Construction Fund and the IT Capital Account to the General 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.