The bill makes general fund transfers of $8 million to the just transition cash fund (fund) and $7 million to a newly created coal transition worker assistance program account (account) in the fund. The just transition office (office) is required to expend at least 70% of the money transferred to the fund in state fiscal year (FY) 2021-22 and any remaining money in state FY 2022-23 to implement the final just transition plan for Colorado and to provide supplemental funding for existing state programs that the office identifies as the most effective vehicles for targeted investment in coal transition communities. In expending the money, the office is required to develop specific criteria for prioritizing the expenditures, emphasize investment in tier one transition communities, as defined by the bill, and support specified types of programs in accordance with specified requirements and limitations.
Subject to specified requirements and limitations, the department of labor and employment is required to expend at least 70% of the money transferred to the account in state FY 2021-22 and any remaining money in state FY 2022-23 first for assistance programs that directly assist coal transition workers and then, if money remains, to support family and other household members of coal transition workers and create and implement a pilot program to test innovative coal transition work support programs.
The bill also amends and supplements existing definitions of "coal transition community" and "coal transition worker" to improve the implementation of just transition.
(Note: This summary applies to this bill as introduced.)