SB 25-313
Fiscal Note
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
SB 25-313: PROPOSITION 123 REVENUE USES
Prime Sponsors:
Sen. Amabile; Bridges
Rep. Bird; Sirota
Published for: Senate Appropriations
Drafting number: LLS 25-0911
Fiscal Analyst:
Matt Bishop, 303-866-4796
matt.bishop@coleg.gov
Version: Initial Fiscal Note
Date: April 25, 2025
Fiscal note status: The fiscal note reflects the introduced bill, which was recommended by the Joint
Budget Committee.
Summary Information
Overview. The bill modifies and clarifies the use of revenue generated by Proposition 123.
Types of impacts. The bill is projected to affect the following areas on an ongoing basis:
Minimal State Workload
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
April 25, 2025 SB 25-313
Summary of Legislation
The bill modifies and clarifies the use of revenue generated by Proposition 123 for affordable
housing. First, the Department of Local Affairs (DOLA) operates programs for down-payment
assistance and homelessness services and can use up to 5 percent of the money in the
Affordable Housing Support Fund to pay for its administrative costs. The bill subjects these
administrative costs to annual appropriation beginning with FY 2026-27.
Second, the bill expands the use of the Affordable Housing Support Fund for homelessness
services to include capital development or operating costs at the Fort Lyon Supportive
Residential Community or Ridge View Supportive Residential Community.
Third, current law requires that the funding provided by Proposition 123 supplement, but not
supplant, other state funding for affordable housing programs compared to FY 2022-23. The bill
specifies the funding sources and circumstances that count toward meeting this requirement.
Background
Proposition 123, adopted by voters in 2022, established several housing-related programs. The
Affordable Home Ownership Program offers home ownership down-payment assistance to first-
time homebuyers. It also offers grants and loans to nonprofit organizations and local
governments to support affordable home ownership, and offers grants and loans to mobile
home owners to assist in the purchase of a mobile home park.
The Persons Experiencing Homelessness Program provides rental assistance, housing vouchers,
and eviction defense assistance to those experiencing or at risk of homelessness. It also offers
grants and loans to nonprofit organizations and local governments to support the development
of supportive housing and other activities that resolve and prevent homelessness.
State Expenditures
The bill may increase expenditures in DOLA, particularly for its supportive residential community
programs at Fort Lyon or Ridge View. As this funding is subject to future appropriations and
decisions by the General Assembly, it will be addressed through the annual budget process and
has not been estimated in this fiscal note. The bill’s other changes have a minimal impact on
workload and no change in appropriations is required.
Effective Date
The bill takes effect upon signature of the Governor, or upon becoming law without his
signature.
Page 3
April 25, 2025 SB 25-313
State and Local Government Contacts
Joint Budget Committee Staff Local Affairs
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.