The bill 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 for the 2019-20 fiscal year. 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 bill 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 bill requires an annual report to the education committees of the general assembly concerning trust fund grants awarded during the fiscal year.
The bill repeals the trust fund on July 1, 2027.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)