High-cost special education trust fund - trust fund grants. The act creates the high-cost special education trust fund (trust fund) to be used for high-cost special education trust fund grants (trust fund grants) to public school special education administrative units that have made significant expenditures in providing special education services to a child with a disability. The trust fund consists of $2.5 million transferred from the marijuana tax cash fund to the trust fund on July 1, 2019. The general assembly is encouraged to prioritize the transfer or appropriation of money to the trust fund in future fiscal years.
The department of education may expend interest and income from the trust fund for trust fund grants awarded by the Colorado special education fiscal advisory committee (committee). The act specifies the eligibility criteria for a trust fund grant and criteria that the committee shall consider in determining the trust fund grant recipients and the amount of the trust fund grants.
The act requires an annual report to the education committees of the general assembly concerning trust fund grants awarded during the fiscal year, and repeals the trust fund on July 1, 2027.
(Note: This summary applies to this bill as enacted.)