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Correct Senate Bill 19-263 Effective Date Error

Concerning correction of the effective date clause of Senate Bill 19-263 for the purpose of ensuring that the bill accomplishes its intended legal effect of eliminating the requirement that the state treasurer execute lease-purchase agreements to fund transportation projects during the 2020-21 and 2021-22 state fiscal years if a referred ballot issue that authorizes the state to issue transportation revenue anticipation notes is approved at the 2020 general election.
2020 Regular Session
State Revenue & Budget
Transportation & Motor Vehicles
Bill Summary

Statutory Revision Committee. Current law requires the state treasurer to execute up to $500 million of lease-purchase agreements in each of the 2020-21 and 2021-22 state fiscal years for the purpose of funding transportation projects. Senate Bill 19-263 (SB 263) refers a statewide ballot issue at the 2020 general election which would, if approved, authorize the state to issue up to $1.837 billion of transportation revenue anticipation notes (TRANs) for the purpose of funding transportation projects.

When enacting SB 263, the general assembly intended that, upon approval of the ballot issue, the TRANs authorized would replace the lease-purchase agreements as a source of funding for transportation projects. However, due to an error in the effective date clause of SB 263, if the TRANs are approved, the state treasurer will still be required to execute the lease-purchase agreements. The bill amends the Session Laws of Colorado 2019 to correct the error and thereby ensure that approval of the ballot issue eliminates the requirement that the state treasurer execute the lease-purchase agreements.

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)




Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    Signed Act PDF
    03/14/2020 Final Act PDF
    03/09/2020 Rerevised PDF
    03/05/2020 Revised PDF
    02/10/2020 Reengrossed PDF
    02/07/2020 Engrossed PDF
    01/29/2020 Introduced PDF

Pursuant to HJR20-1007, the Second Regular Session of the 72nd General Assembly is Temporarily Adjourned until 10:00 a.m., Monday, March 30, 2020. 

COVID-19 Resources

Temporary Guidelines for Review and Comment Meetings

The legislature will meet in limited session on Monday, March 30th. The Capitol will be open for the duration of the session for those with essential business related to the session. The building will not be available for public tours. People without essential business are encouraged to access the session through the General Assembly website and Colorado Channel.  Anybody with essential business related to the session will be required to practice appropriate social distancing measures.