Colorado 2024 Regular Session

Colorado House Bill HB1429

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  

Caption

Transfer from Unused State-Owned Real Property Fund

Impact

The passing of HB 1429 represents a strategic financial decision intended to enhance the state's general fund. By pulling resources from the unused state-owned real property fund, the bill directly affects the availability of these funds for other purposes. This legislative move signifies a trend towards maximizing the use of state-owned assets to support essential government functions, particularly as the state navigates fiscal challenges.

Summary

House Bill 1429 pertains to the transfer of funds from the unused state-owned real property fund to the state general fund. Specifically, the bill mandates that $120,000 be transferred on July 1, 2024, providing a budgetary adjustment aimed at addressing current financial needs within the state's general funding. This transfer aligns with the state’s ongoing efforts to manage and allocate its resources efficiently while utilizing previously unused assets to bolster operational funding for various programs and services.

Sentiment

The sentiment among legislative members regarding HB 1429 appears largely supportive, as indicated by the unanimous votes during discussions. The bill reflects a pragmatic approach to fiscal policy, with legislators acknowledging the necessity of transferring funds to maintain state operations. However, there may exist underlying concerns regarding the long-term implications of relying on real property funds, especially if they continue to be drawn upon for recurrent budgetary needs.

Contention

While HB 1429 passed without opposition in voting, one point of contention within the broader discussion around such bills is the sustainability of using real property funds as a recurring resource. Critics might argue that this could lead to a precarious financial strategy if the state's assets become depleted over time, potentially affecting future budgets. As the state makes employment and service decisions based on available funds, ensuring a transparent and sustainable approach to financial management remains crucial.

Companion Bills

No companion bills found.

Previously Filed As

CO SB178

Duplicative Inventory of State-Owned Real Property

CO SB257

Modify General Fund Transfers to State Highway Fund

CO SB176

Early Stage Front Range Passenger Rail Funding

CO SB264

Cash Fund Transfers to the General Fund

CO SB293

Transfers from License Plate Cash Fund

CO HB1195

Transfers From General Fund To Capital Construction Fund

CO SB215

State Employee Reserve Fund General Fund Transfer

CO HB1215

Transfers to the Capital Construction Fund

CO SB001

Authority Of Public-private Collaboration Unit For Housing

CO SB250

Transfer From Severance Tax Operations Cash Fund

Similar Bills

No similar bills found.