Colorado 2024 Regular Session

Colorado House Bill HB1426

Introduced
3/25/24  
Introduced
3/25/24  
Report Pass
3/27/24  
Refer
3/25/24  
Report Pass
3/27/24  
Engrossed
4/1/24  
Refer
3/27/24  
Engrossed
4/1/24  
Report Pass
4/3/24  
Refer
4/1/24  
Report Pass
4/3/24  
Engrossed
4/23/24  
Refer
4/3/24  
Engrossed
4/24/24  
Engrossed
4/23/24  
Engrossed
4/24/24  
Passed
4/29/24  
Enrolled
4/24/24  

Caption

Controlled Maintenance Trust Fund Transfer

Impact

The impact of HB 1426 is primarily seen in state fiscal policy, as it authorizes the state treasurer to liquidate unencumbered financial resources from the Controlled Maintenance Trust Fund to support the General Fund. This change may affect future funding for maintenance projects designated under the existing trust fund purposes. By reallocating these funds, the bill aims to address immediate funding concerns while potentially limiting the availability of designated maintenance funding in the longer term.

Summary

House Bill 1426 is aimed at transferring the balance of the Controlled Maintenance Trust Fund to Colorado's General Fund, scheduled for July 31, 2024. This legislative act reflects a decision to utilize existing trust funds for statewide financial needs rather than maintaining the funds for future specific allocations. The shift from a dedicated trust fund to a more general use of funds has sparked discussions among lawmakers about fiscal strategy and priorities within the state budget.

Sentiment

The overall sentiment surrounding HB 1426 appears to be mixed. Supporters of the bill emphasize the necessity of reallocating available resources to address urgent budgetary needs, arguing that the current economic climate demands flexible use of state funds. Conversely, critics raise concerns about the long-term implications of reducing dedicated funds for maintenance, arguing that it could lead to neglected infrastructure and maintenance needs in the future.

Contention

Key points of contention regarding HB 1426 revolve around the implications of diminishing the Controlled Maintenance Trust Fund's capacity to fund specific state needs over time. Critics argue that while immediate financial demands may justify the transfer, the loss of a dedicated maintenance fund could result in future deficits in infrastructure care and management. The debate emphasizes the trade-off between short-term financial relief and long-term state commitment to maintaining public assets.

Companion Bills

No companion bills found.

Previously Filed As

CO HB1425

Transfers for Capital Construction

CO SB264

Cash Fund Transfers to the General Fund

CO HB1215

Transfers to the Capital Construction Fund

CO HB1340

Capital-related Transfers Of Money

CO SB293

Transfers from License Plate Cash Fund

CO HB1413

Severance Tax Transfers

CO HB1418

Hazardous Substance Site Response Fund Transfer

CO SB317

Transfer Cash Fund Investment Earnings to General Fund

CO SB086

Breast Cancer Screening Fund Transfer

CO SB257

Modify General Fund Transfers to State Highway Fund

Similar Bills

No similar bills found.