C.R.S. § 22-43.7-101 Short title
22-43.7-101. Short title. This article shall be known and may be cited as the "Building Excellent Schools Today Act".
Capital Construction Assistance
C.R.S. tit. 22, art. 43.7
in effectC.R.S. § 22-43.7-102 Legislative findings and declarations
22-43.7-102. Legislative findings and declarations. (1) The general assembly hereby finds and declares that:
(a) Colorado school districts, boards of cooperative services, and charter schools have differing financial abilities to meet students' fundamental educational needs, including the need for new public schools and renovations or for controlled maintenance at existing public schools so that unsafe, deteriorating, or overcrowded facilities do not impair students' abilities to learn.
(b) The establishment of a program to provide financial assistance to school districts, boards of cooperative services, and charter schools throughout the state that have difficulty financing new capital construction projects and renovating and maintaining existing facilities will help such districts, boards of cooperative services, and charter schools to meet students' fundamental educational needs.
(2) The general assembly further finds and declares that:
(a) Rental income, royalties, interest, and other income other than land sale proceeds derived from state school lands may be used to support the public schools of the state.
(b) It is necessary and appropriate for the state to build excellent schools today by assisting school districts, boards of cooperative services, and charter schools in completing needed public school facility capital construction projects more quickly by:
(I) Entering into financed purchase of an asset or certificate of participation agreements for the purpose of financing such projects; and
(II) Subject to the annual appropriation of such money by the general assembly, using a portion of the rental income and royalties derived from state school lands and, unless and until the state treasurer, pursuant to section 22-43.7-104 (2)(b)(I)(B), provides written notice to the joint budget committee of the general assembly that the state treasurer has determined that the use of interest or income earned on the deposit and investment of money in the public school fund to make lease payments under a financed purchase of an asset or certificate of participation agreement entered into pursuant to section 22-43.7-110 (2) will prevent the interest component of the payments from qualifying for exemption from federal income taxation and at any time after the state treasurer, pursuant to section 22-43.7-104 (2)(b)(I)(C), has rescinded any such determination, interest, and other income, other than land sale proceeds, derived from state school lands, as well as certain other available state money and matching money provided by school districts, boards of cooperative services, and charter schools, to make payments payable under the terms of the financed purchase of an asset or certificate of participation agreements.
(c) It is also necessary and appropriate for the state to use a portion of such rental income and royalties and, unless and until the state treasurer, pursuant to section 22-43.7-104 (2)(b)(I)(B), provides written notice to the joint budget committee of the general assembly that the state treasurer has determined that the use of interest or income earned on the deposit and investment of money in the public school fund to make payments under a financed purchase of an asset or certificate of participation agreement entered into pursuant to section 22-43.7-110 (2) will prevent the interest component of the payments from qualifying for exemption from federal income taxation and at any time after the state treasurer, pursuant to section 22-43.7-104 (2)(b)(I)(C), has rescinded any such determination, interest and other income, as well as certain other available state money to continue to provide financial assistance to school districts, boards of cooperative services, and charter schools in the form of cash funding for school renovation and controlled maintenance projects.
at any time after the state treasurer, pursuant to section 22-43.7-104 (2)(b)(I)(C), has rescinded any such determination, interest and other income, as well as certain other available state money to continue to provide financial assistance to school districts, boards of cooperative services, and charter schools in the form of cash funding for school renovation and controlled maintenance projects.
(d) In accordance with the decision of the Colorado court of appeals in the case denominated Colorado Criminal Justice Reform Coalition v. Ortiz, Case No. 04 CA 0879 (April 7, 2005), the financed purchase of an asset or certificate of participation agreements to be entered into by the state pursuant to this article 43.7 do not constitute a multiple-fiscal year direct or indirect district debt or other financial obligation whatsoever for purposes of section 20 (4)(a) of article X of the state constitution.
(e) The provision of financial assistance for public school facility capital construction pursuant to this article meets the requirements of section 3 of article IX of the state constitution and shall be applied first to satisfy the legal obligations of the state under the settlement reached in the case denominated Giardino v. Colorado State Board of Education, et al., Case No. 98 CV 246, in the district court for the city and county of Denver.
C.R.S. § 22-43.7-103 Definitions
22-43.7-103. Definitions. As used in this article 43.7, unless the context otherwise requires:
(1) "Applicant" means any entity that may directly or indirectly submit an application for financial assistance to the board if the entity submits such an application, including:
(a) A school district;
(b) A board of cooperative services;
(c) A charter school; and
(d) The Colorado school for the deaf and blind created and existing pursuant to section 22-80-102 (1)(a).
(2) "Assistance fund" means the public school capital construction assistance fund created in section 22-43.7-104 (1).
(3) "Authorizer" means the school district that authorized the charter contract of a charter school or, in the case of an institute charter school, as defined in section 22-30.5-502 (6), the state charter school institute created and existing pursuant to section 22-30.5-503 (1)(a).
(4) "Board" means the public school capital construction assistance board created in section 22-43.7-106 (1).
(5) "Board of cooperative services" means a board of cooperative services created and existing pursuant to section 22-5-104 that is eligible to receive state moneys pursuant to section 22-5-114.
(6) "Capital construction" has the same meaning as set forth in section 24-30-1301 (2); except that the term also includes technology, as defined in section 22-43.7-109 (5)(a)(I)(B), and career and technical education capital construction.
(6.5) "Capital development committee" means the capital development committee of the general assembly established in section 2-3-1302 (1), C.R.S.
(6.7) "Career and technical education capital construction" means:
(a) New construction or retrofitting of public school facilities for career and technical education programs that satisfy the standards prescribed in section 23-8-103 (2); and
(b) Equipment necessary for individual student learning and classroom instruction, including equipment that provides access to instructional materials or that is necessary for professional use by a classroom teacher.
(7) "Charter school" means a charter school as described in section 22-54-124 (1)(f.6)(I)(A) or (1)(f.6)(I)(B).
(8) "Department" means the department of education created and existing pursuant to section 24-1-115, C.R.S.
(9) "Division" means the division of public school capital construction assistance created in section 22-43.7-105.
(10) "Financial assistance" means matching grants made by the board from the assistance fund to applicants or any other expenditures made from the assistance fund for the purpose of financing public school facility capital construction as authorized by this article.
(11) "Matching moneys" means moneys required to be paid to the state or used directly to pay a portion of the costs of a public school facility capital construction project by an applicant as a condition of an award of financial assistance to the applicant pursuant to section 22-43.7-109 (9).
(12) "Public school facility" means a building or portion of a building used for educational purposes by a school district, a board of cooperative services, the Colorado school for the deaf and blind created and existing pursuant to section 22-80-102 (1)(a), or a charter school, including but not limited to school sites, classrooms, libraries and media centers, cafeterias and kitchens, auditoriums, multipurpose rooms, and other multi-use spaces; except that "public school facility" does not include a learning center, as defined in section 22-30.7-102 (4), that is not used for any other public school purpose and is not part of a building otherwise owned, or leased in its entirety, by a school district, a board of cooperative services, a charter school, or the Colorado school for the deaf and blind for educational purposes.
(13) "Public school lands income" means all income received by the state from:
g center, as defined in section 22-30.7-102 (4), that is not used for any other public school purpose and is not part of a building otherwise owned, or leased in its entirety, by a school district, a board of cooperative services, a charter school, or the Colorado school for the deaf and blind for educational purposes.
(13) "Public school lands income" means all income received by the state from:
(a) The sale of timber on public school lands, rental payments for the use and occupation of public school lands, and rentals or lease payments for sand, gravel, clay, stone, coal, oil, gas, geothermal resources, gold, silver, or other minerals on public school lands;
(b) Royalties and other payments for the extraction of any natural resource on public school lands; and
(c) Interest or income earned on the deposit and investment of moneys in the public school fund.
(14) "School district" means a school district, other than a junior or community college district, organized and existing pursuant to law.
(15) "State board" means the state board of education created and existing pursuant to section 1 of article IX of the state constitution.
C.R.S. § 22-43.7-104 Public school capital construction assistance fund - creation - crediting of money to fund - use of fund - emergency reserve - creation - reserve account - creation and use
22-43.7-104. Public school capital construction assistance fund - creation - crediting of money to fund - use of fund - emergency reserve - creation - reserve account - creation and use. (1) The public school capital construction assistance fund is hereby created in the state treasury. The principal of the assistance fund shall consist of all moneys transferred or credited to the assistance fund pursuant to subsection (2) of this section. All interest and income earned on the deposit and investment of moneys in the assistance fund shall be credited to the assistance fund and shall not be transferred to the general fund or any other fund at the end of any fiscal year.
(2) (a) On July 1, 2008, the following moneys shall be transferred to the assistance fund:
(I) All moneys remaining in the school construction and renovation fund, as said fund existed prior to July 1, 2008;
(II) All moneys remaining in the school capital construction expenditures reserve and the school capital construction expenditures reserve fund as said reserve and reserve fund existed prior to July 1, 2008; and
(III) All moneys remaining in the lottery proceeds contingency reserve fund as said fund existed prior to July 1, 2008.
(b) For each fiscal year commencing on or after July 1, 2008, the following money shall be credited to the assistance fund:
(I) (A) Unless and until the state treasurer, pursuant to subsection (2)(b)(I)(B) of this section, provides written notice to the joint budget committee of the general assembly that the state treasurer has determined that the use of interest or income earned on the deposit and investment of money in the public school fund to make payments under a financed purchase of an asset or certificate of participation agreement entered into pursuant to section 22-43.7-110 (2) will prevent the interest component of the payments from qualifying for exemption from federal income taxation, the greater of thirty-five percent of the gross amount of public school lands income received during the fiscal year or forty million dollars. The money required to be credited to the assistance fund pursuant to this subsection (2)(b)(I)(A) may be taken from any single source or combination of sources of public school lands income.
(B) Except as otherwise provided in subsection (2)(b)(I)(C) of this section, if the state treasurer determines during any fiscal year that the use of interest or income earned on the deposit and investment of money in the public school fund to make payments under a financed purchase of an asset or certificate of participation agreement will prevent the interest component of the payments from qualifying for exemption from federal income taxation and provides written notice to the joint budget committee of the general assembly of the determination, for the portion of the fiscal year beginning on the date the written notice is provided to the joint budget committee and for each subsequent fiscal year, the greater of fifty percent of the gross amount of public school lands income other than interest or income earned on the deposit and investment of money in the public school fund received during the fiscal year or forty million dollars. The money required to be credited to the assistance fund pursuant to this subsection (2)(b)(I)(B) may be taken from any single source or combination of sources of public school lands income other than interest or income earned on the deposit and investment of money in the public school fund.
and investment of money in the public school fund received during the fiscal year or forty million dollars. The money required to be credited to the assistance fund pursuant to this subsection (2)(b)(I)(B) may be taken from any single source or combination of sources of public school lands income other than interest or income earned on the deposit and investment of money in the public school fund.
(C) If, after making a determination and providing notice pursuant to subsection (2)(b)(I)(B) of this section, the state treasurer makes a new determination during any fiscal year that the use of interest or income earned on the deposit and investment of money in the public school fund to make payments under a financed purchase of an asset or certificate of participation agreement entered into pursuant to section 22-43.7-110 (2) will not prevent the interest component of the payments from qualifying for exemption from federal income taxation and the state treasurer provides written notice to the joint budget committee of the general assembly that the state treasurer has made a new determination and is rescinding the determination made pursuant to subsection (2)(b)(I)(B) of this section as of the date the written notice is provided, for the portion of the fiscal year beginning on the date the written notice is provided to the joint budget committee and for each subsequent fiscal year, the greater of thirty-five percent of the gross amount of public school lands income received during the fiscal year or forty million dollars. The money required to be credited to the assistance fund pursuant to this subsection (2)(b)(I)(C) may be taken from any single source or combination of sources of public school lands income.
(II) The net proceeds made available to the state from the sale of instruments evidencing rights to receive payments made and to be made under the terms of any financed purchase of an asset or certificate of participation agreement entered into pursuant to section 22-43.7-110 (2), unless otherwise required by the documents pursuant to which the instruments are issued;
(III) Any money transferred to the assistance fund under section 44-40-111 (12). The money transferred to the assistance fund pursuant to this subsection (2)(b)(III) and any income and interest derived from the deposit and investment of such money is exempt from any restriction on spending, revenue, or appropriations, including, without limitation, the restrictions of section 20 of article X of the state constitution.
(IV) Matching money paid to the state for use by the state in making scheduled payments payable by the state under the terms of financed purchase of an asset or certificate of participation agreements entered into pursuant to section 22-43.7-110 (2);
(V) Any moneys transferred or appropriated to the assistance fund pursuant to subsection (5) of this section.
(c) Reserved.
he state constitution.
(IV) Matching money paid to the state for use by the state in making scheduled payments payable by the state under the terms of financed purchase of an asset or certificate of participation agreements entered into pursuant to section 22-43.7-110 (2);
(V) Any moneys transferred or appropriated to the assistance fund pursuant to subsection (5) of this section.
(c) Reserved.
(d) (I) For the state fiscal year commencing July 1, 2018, the state treasurer, as provided in section 39-28.8-305 (1)(a), shall credit to the assistance fund the greater of the first forty million dollars received and collected from the excise tax on retail marijuana imposed pursuant to part 3 of article 28.8 of title 39 or ninety percent of the money received and collected from the tax. For the state fiscal year commencing July 1, 2019, and for each state fiscal year thereafter except for the state fiscal year commencing July 1, 2020, the state treasurer, as provided in section 39-28.8-305 (1)(a), shall annually credit to the assistance fund all of the money received and collected from the excise tax on retail marijuana imposed pursuant to part 3 of article 28.8 of title 39. For the state fiscal year commencing July 1, 2020, the state treasurer, as provided in section 39-28.8-305 (1)(a), shall credit to the assistance fund the lesser of the first forty million dollars received and collected from the excise tax on retail marijuana imposed pursuant to part 3 of article 28.8 of title 39 or all of the money received and collected from the tax. For state fiscal years commencing before July 1, 2019, the state treasurer shall credit twelve and five-tenths percent of the amount annually credited pursuant to this subsection (2)(d) to the charter school facilities assistance account, which account is created within the assistance fund. For each state fiscal year commencing on or after July 1, 2019, the state treasurer shall credit to the charter school facilities assistance account a percentage of the amount credited pursuant to this subsection (2)(d) that is equal to the percentage of pupil enrollment, as defined in section 22-54-103 (10), statewide represented by pupils who were enrolled in charter schools for the prior school year. The department of education shall notify the state treasurer of the applicable percentage no later than June 1 of the immediately preceding fiscal year.
(II) In addition to the credit made to the charter school facilities assistance account pursuant to subsection (2)(d)(I) of this section, the state treasurer shall credit the following amounts to the charter school facilities assistance account from the public school capital construction assistance fund:
(A) For the state fiscal year commencing on July 1, 2024, eleven million five hundred thousand dollars;
(B) For the state fiscal year commencing on July 1, 2025, twelve million dollars;
(C) For the state fiscal year commencing on July 1, 2026, thirteen million dollars;
(D) For the state fiscal year commencing on July 1, 2027, fourteen million dollars; and
(E) For the state fiscal year commencing on July 1, 2028, fifteen million dollars.
(III) If eligibility criteria are satisfied, the department shall apply for a state charter school facilities incentive grant awarded by the United States department of education.
(e) On May 21, 2019, if possible, or as soon as possible thereafter, the state treasurer shall transfer four million two hundred fifty thousand dollars from the assistance fund to the charter school facilities assistance account of the assistance fund created in subsection (2)(d) of this section.
(f) On July 1, 2020, the state treasurer shall transfer one hundred million dollars from the assistance fund to the state public school fund created in section 22-54-114 (1).
state treasurer shall transfer four million two hundred fifty thousand dollars from the assistance fund to the charter school facilities assistance account of the assistance fund created in subsection (2)(d) of this section.
(f) On July 1, 2020, the state treasurer shall transfer one hundred million dollars from the assistance fund to the state public school fund created in section 22-54-114 (1).
(g) The assistance fund includes seventy million dollars, which the state treasurer is required to transfer from the marijuana tax cash fund created in section 39-28.8-501 (1) in two installments, with the first on June 1, 2022, and the second on June 1, 2024, pursuant to section 39-28.8-501 (4.8).
(h) On June 16, 2021, if possible, or as soon as possible thereafter, the state treasurer shall transfer ten million dollars from the general fund to the assistance fund. Notwithstanding subsection (3)(a) of this section, the money transferred pursuant to this subsection (2)(h) shall be used only to provide financial assistance in the form of grants as authorized in section 22-43.7-109 (15).
(i) On June 1, 2023, the state treasurer shall transfer fifteen million dollars from the state education fund to the assistance fund.
(3) Subject to annual appropriation, the department may expend money in the assistance fund for the purposes of paying the direct and indirect administrative costs, including but not limited to the costs of conducting or contracting for the financial assistance priority assessment required by section 22-43.7-108 (1), incurred by the division, the board, and the department in exercising their powers and duties pursuant to this article 43.7, providing financial assistance, making payments required by section 22-43.7-114, and paying any transaction costs necessarily incurred in connection with the provision of financial assistance as authorized by this article 43.7. For state fiscal year 2020-21, the general assembly shall appropriate sixty million dollars from the assistance fund for use by the board in providing financial assistance in the form of matching cash grants only.
(3.5) In determining the amount of financial assistance that it provides and in so doing managing the balance of the assistance fund, the board shall ensure that, effective June 30, 2013, and effective each June 30 thereafter, the balance of the assistance fund, not including the amounts credited to the charter school facilities assistance account pursuant to subsection (2)(d) of this section, is at least equal to the total amount of payments to be made by the state during the next fiscal year under the terms of any financed purchase of an asset or certificate of participation agreements entered into pursuant to section 22-43.7-110 (2) less the amount of any school district matching money and any federal money to be received for the purpose of making the payments.
2)(d) of this section, is at least equal to the total amount of payments to be made by the state during the next fiscal year under the terms of any financed purchase of an asset or certificate of participation agreements entered into pursuant to section 22-43.7-110 (2) less the amount of any school district matching money and any federal money to be received for the purpose of making the payments.
(4) For each fiscal year commencing on or after July 1, 2008, an emergency reserve of at least one million dollars shall be maintained in the assistance fund; except that an emergency reserve need not be maintained in any fiscal year in which the amount of either public school lands income or public school lands income other than interest or income earned on the deposit and investment of money in the public school fund, or both, credited to the assistance fund pursuant to subsection (2)(b)(I) of this section is an amount equal to the difference between the total amount of payments to be made by the state under the terms of financed purchase of an asset or certificate of participation agreements entered into pursuant to section 22-43.7-110 (2) and the total amount of matching money to be paid to the state as payments under the terms of financed purchase of an asset or certificate of participation agreements entered into pursuant to section 22-43.7-110 (2) rather than, to the extent applicable, thirty-five percent of the gross amount of public school lands income received by the state during the fiscal year or fifty percent of the gross amount of public school lands income other than interest or income earned on the deposit and investment of money in the public school fund received by the state during the fiscal year. The board may expend money from the emergency reserve only to provide emergency financial assistance to address a public school facility emergency in accordance with section 22-43.7-109 (8).
(5) If the state treasurer, pursuant to subsection (2)(b)(I)(B) of this section, provides written notice to the joint budget committee of the general assembly that the state treasurer has determined that the use of interest or income earned on the deposit and investment of money in the public school fund to make payments under a financed purchase of an asset or certificate of participation agreement entered into pursuant to section 22-43.7-110 (2) will prevent the interest component of the payments from qualifying for exemption from federal income taxation, any such interest or income credited to the assistance fund before the treasurer provides the written notice shall be segregated into a separate restricted account of the assistance fund. All interest and income earned on the deposit and investment of money in the restricted account shall be credited to the restricted account. Money in the restricted account shall not be commingled with other money in the assistance fund. Notwithstanding any other provision of law, money in the restricted account shall not be used and shall not be available to pay payments under any financed purchase of an asset or certificate of participation agreements entered into pursuant to section 22-43.7-110 (2) unless and until the state treasurer, pursuant to subsection (2)(b)(I)(C) of this section, provides written notice to the joint budget committee of the general assembly that the state treasurer is rescinding the determination made pursuant to subsection (2)(b)(I)(B) of this section as of the date the written notice is provided. Money in the restricted account may be used for the other purposes for which money in the assistance fund may be used under this article 43.7.
) of this section, provides written notice to the joint budget committee of the general assembly that the state treasurer is rescinding the determination made pursuant to subsection (2)(b)(I)(B) of this section as of the date the written notice is provided. Money in the restricted account may be used for the other purposes for which money in the assistance fund may be used under this article 43.7.
(6) If the amount of money in the assistance fund that, subject to the limitations set forth in subsection (5) of this section, is available to pay payments under any financed purchase of an asset or certificate of participation agreements entered into pursuant to section 22-43.7-110 (2) will be insufficient to cover the full amount of the payments required by the financed purchase of an asset or certificate of participation agreements, the general assembly may appropriate or transfer from any legally available source to the assistance fund sufficient money to make the payments.
C.R.S. § 22-43.7-105 Division of public school capital construction assistance - creation - director - function - powers and duties
22-43.7-105. Division of public school capital construction assistance - creation - director - function - powers and duties. (1) (a) There is hereby created within the department a division of state government to be known and designated as the division of public school capital construction assistance, the head of which shall be the director of the division of public school capital construction assistance. Pursuant to section 13 of article XII of the state constitution, the commissioner of education shall appoint the director, and the commissioner shall give good faith consideration to the recommendations of the state board and the board prior to appointing the director. The commissioner shall also appoint such other personnel as may be necessary to fulfill the functions and exercise the powers and duties of the division.
(b) The division and the director of the division are type 2 entities, as defined in section 24-1-105, and exercise their powers and perform their duties and functions under the department.
(2) The function of the division is to provide professional and technical support to the board as the board exercises its powers and duties as specified in this article so that financial assistance can be provided for public schools in an equitable, efficient, and effective manner. In furtherance of its function, the division, subject to board direction, has the following powers and duties:
(a) To support the board in establishing public school facility construction guidelines pursuant to section 22-43.7-107;
(b) To support the board in conducting or causing to be conducted the financial assistance priority assessment of public schools throughout the state required by section 22-43.7-108, and, as part of such support, to inspect and assess public school facilities or evaluate the results of any such inspection and assessment conducted by any contractor retained by the board;
(c) At the request of the board, to undertake a preliminary review of financial assistance applications submitted by applicants and assist the board in the development of the prioritized list of public school facility capital construction projects recommended for financial assistance that the board is required to prepare pursuant to section 22-43.7-106 (2)(c);
(d) To assist applicants and potential applicants in identifying critical capital construction needs using the public school facility construction guidelines as specified in section 22-43.7-107; and
(e) To exercise such other powers and duties as may be necessary to adequately fulfill its function.
(3) In addition to the functions of the division specified in subsection (2) of this section, if the governor declares, by executive order or proclamation, a disaster emergency in any area of the state pursuant to section 24-33.5-704 (4), C.R.S., the division shall, as soon as possible following the declaration of the disaster emergency, contact each affected school facility in any area of the state in which the governor declared the disaster emergency to assess any facility needs resulting from the declared disaster emergency. The division must report its findings to the board as soon as possible following its outreach.
C.R.S. § 22-43.7-106 Public school capital construction assistance board - creation - general powers and duties - rules
22-43.7-106. Public school capital construction assistance board - creation - general powers and duties - rules. (1) (a) There is created in the department the public school capital construction assistance board. The board is a type 1 entity, as defined in section 24-1-105, and exercises its powers and performs its duties and functions under the department. The board consists of nine appointed members, none of whom shall hold any state elective office. Five voting members of the board constitute a quorum. Board members are appointed as follows:
(I) The state board shall appoint three members from different areas of the state and from urban, suburban, and rural school districts. The members appointed by the state board shall all have demonstrated experience regarding public school facility issues and shall include:
(A) One member who is a school district board member at the time of appointment;
(B) One member who is a public school superintendent or administrator at the time of appointment or has recent experience as a public school superintendent or administrator; and
(C) One member who is a school facilities planner or manager at the time of appointment or has recent experience as a school facilities planner or manager.
(II) The governor shall appoint three members. The members appointed by the governor shall include:
(A) One member who is an architect whose professional practice includes the design and rehabilitation of public school facilities at the time of appointment or who has recent experience rehabilitating existing public school facilities and designing new public school facilities;
(B) One member who is an engineer whose professional practice at the time of appointment includes public school facilities engineering or who has recent experience in public school facilities engineering; and
(C) One member who is a construction manager who at the time of appointment manages public school facilities construction projects or who has recent experience managing such projects.
(III) The general assembly shall appoint three members, one of whom shall be appointed by the speaker of the house of representatives, one of whom shall be appointed by the president of the senate, and one of whom shall be appointed jointly by the minority leaders of the house of representatives and the senate. The members appointed by the general assembly shall include:
(A) One member who is a school facilities planner or manager at the time of appointment or has recent experience as a school facilities planner or manager;
(B) One member who has expertise in technology, including but not limited to technology for individual student learning and classroom instruction; and
(C) One member who has public school finance expertise and knowledge regarding public school trust lands.
who is a school facilities planner or manager at the time of appointment or has recent experience as a school facilities planner or manager;
(B) One member who has expertise in technology, including but not limited to technology for individual student learning and classroom instruction; and
(C) One member who has public school finance expertise and knowledge regarding public school trust lands.
(b) Members of the board shall serve for terms of two years and may serve up to three consecutive terms; except that the terms shall be staggered so that no more than five members' terms expire in the same year. The appointing authority for a member may remove the member for any cause that renders the member incapable of discharging or unfit to discharge the member's duties. The appropriate appointing authority shall fill any vacancy in the membership of the board by appointment, and a member appointed to fill a vacancy shall serve until the expiration of the term for which the vacancy was filled. Members of the board serve without compensation but are entitled to reimbursement for travel and other necessary expenses actually incurred in the performance of their duties. The board shall elect a chair from among its members.
(2) The function of the board is to protect the health and safety of students, teachers, and other persons using public school facilities and maximize student achievement by ensuring that the condition and capacity of public school facilities are sufficient to provide a safe and uncrowded environment that is conducive to students' learning. In performing its function, the board shall ensure the most equitable, efficient, and effective use of state revenues dedicated to provide financial assistance for capital construction projects pursuant to the provisions of this article 43.7 by assessing public school capital construction needs throughout the state and providing expert recommendations based on objective criteria to the state board regarding the appropriate prioritization and allocation of such financial assistance. To further the performance of its function, the board, in addition to any other powers and duties specified in this article 43.7, has the following powers and duties:
(a) To establish public school facility construction guidelines as specified in section 22-43.7-107 to use in reviewing financial assistance applications and recommending to the state board a prioritized list of projects recommended to receive financial assistance as specified in paragraph (c) of this subsection (2);
(b) As soon as possible following the establishment of school facility construction guidelines pursuant to paragraph (a) of this subsection (2), to conduct or contract for a financial assistance priority assessment of public school buildings and facilities in this state based on the criteria set forth in section 22-43.7-107 (2);
(c) To review financial assistance applications and prepare and submit to the state board a prioritized list of projects to receive financial assistance and the amount and type of financial assistance that should be provided for each project;
(d) To establish guidelines for the division to follow when assisting potential applicants in identifying critical capital construction needs and preparing financial assistance applications pursuant to section 22-43.7-105 (2)(d);
(e) With the support of the division, to assist applicants that cannot feasibly maintain their own construction management staff in implementing the projects for which financial assistance is provided, including but not limited to providing assistance with the preparation of requests for bids or proposals, contract negotiations, contract implementation, and project and construction management;
(f) With the support of the division, to assist applicants in implementing energy-efficient public school facility design and construction practices;
e projects for which financial assistance is provided, including but not limited to providing assistance with the preparation of requests for bids or proposals, contract negotiations, contract implementation, and project and construction management;
(f) With the support of the division, to assist applicants in implementing energy-efficient public school facility design and construction practices;
(g) To authorize the state treasurer to enter into financed purchase of an asset or certificate of participation agreements on behalf of the state as authorized by this article 43.7 in order to finance public school facility capital construction;
(h) To enter into sub-financed purchase of an asset or certificate of participation agreements on behalf of the state to sub-finance public school facilities financed by the financed purchase of an asset or certificate of participation agreements to applicants; and
(i) (I) To promulgate such rules, in accordance with article 4 of title 24, C.R.S., as are necessary and proper for the administration of this article, including but not limited to:
(A) Conflict of interest rules for board members;
(B) Rules establishing evaluation criteria for matching moneys requirement waiver or reduction applications submitted to the board pursuant to section 22-43.7-109 (10); and
(C) Rules establishing the means by which public school facilities and projects financed in whole or in part with financial assistance provided pursuant this article are to be publicly identified as having been so financed.
(II) The board shall provide a copy of any proposed board rule to the state board on or before the date on which the board issues a notice of proposed rule-making for the rule pursuant to section 24-4-103 (3), C.R.S.
C.R.S. § 22-43.7-107 Public school facility construction guidelines - establishment by board - use
22-43.7-107. Public school facility construction guidelines - establishment by board - use. (1) (a) The board shall establish public school facility construction guidelines for use by the board in assessing and prioritizing public school capital construction needs throughout the state as required by section 22-43.7-108, reviewing applications for financial assistance, and making recommendations to the state board regarding appropriate allocation of awards of financial assistance from the assistance fund only to applicants. The board shall establish the guidelines in rules promulgated in accordance with article 4 of title 24, C.R.S.
(b) It is the intent of the general assembly that the public school facility construction guidelines established by the board be used only for the purposes specified in paragraph (a) of this subsection (1).
(2) The public school facility construction guidelines must identify and describe the capital construction, renovation, and equipment needs in public school facilities and means of addressing those needs that will provide educational and safety benefits at a reasonable cost. In preparing the guidelines, the board shall address the following considerations:
(a) Health and safety issues, including security needs and all applicable building, health, safety, and environmental codes and standards required by state and federal law;
(b) Technology, including but not limited to telecommunications and internet connectivity technology, technology for individual student learning and classroom instruction, and technology, as defined in section 22-43.7-109 (5)(a)(I)(B), which includes hardware, devices, or equipment necessary for individual student learning and classroom instruction, including access to electronic instructional materials, or necessary for professional use by a classroom teacher;
(c) Building site requirements;
(d) Building performance standards and guidelines, including but not limited to green building and energy efficiency criteria as specified in executive order D0012 07, "Greening of State Government: Detailed Implementation", issued by the governor on April 16, 2007, or any subsequent executive orders or other policy directives concerning green building and energy efficiency criteria issued by the governor or the Colorado energy office;
(e) Consultation with the incumbent electric utility regarding energy efficiency; beneficial electrification, as defined in section 40-1-102 (1.2); and renewable distributed generation opportunities;
(f) Functionality of existing and planned public school facilities for core educational programs, particularly those educational programs for which the state board has adopted state model content standards;
(g) Capacity of existing and planned public school facilities, taking into consideration potential expansion of services for the benefit of students such as full-day kindergarten and preschool- and school-based health services;
(h) Public school facility accessibility; and
(i) The historic significance of existing public school facilities and the potential to meet current programming needs by rehabilitating such facilities.
(3) The board and the division shall apply the public school facility construction guidelines in conducting the financial assistance priority assessment required by section 22-43.7-108.
C.R.S. § 22-43.7-108 Statewide financial assistance priority assessment - public school facilities
22-43.7-108. Statewide financial assistance priority assessment - public school facilities. (1) (a) As soon as possible following the establishment of the public school facility construction guidelines pursuant to section 22-43.7-107, the board shall conduct with the assistance of the division, or contract for, a financial assistance priority assessment of public school facilities throughout the state as provided in this section. The board shall order payment of the costs incurred in conducting or contracting for the financial assistance priority assessment from the assistance fund.
(b) It is the intent of the general assembly that the financial assistance priority assessment required by this section be used only for the purposes specified in paragraph (a) of this subsection (1) and section 22-43.7-107 (1)(a).
(2) (a) The financial assistance priority assessment shall assess public school facility capital construction projects based on:
(I) The condition of the public school facility;
(II) Air and water quality in the public school facility;
(III) Public school facility space requirements;
(IV) The ability to accommodate educational technology, including but not limited to technology for individual student learning and classroom instruction;
(V) Site requirements for the public school facility;
(VI) Public school facility demographics, including a five-year projection concerning anticipated substantial changes in the pupil count of individual public school facilities; and
(VII) Annualized utility costs, including electricity, natural gas, propane, water, sewer, waste removal, telecommunications, internet, or other monthly billed utility services.
(b) The financial assistance priority assessment shall include five-year projections regarding the issues described in paragraph (a) of this subsection (2).
(c) The board, or the division upon the board's request, shall establish a database to store the data collected through the financial assistance priority assessment conducted pursuant to this section. The board or the division shall make the data collected available to the public in a form that is easily accessible and complies with any federal or state laws or regulations concerning privacy.
(3) The board shall use the public school facility construction guidelines established pursuant to section 22-43.7-107 in conducting the financial assistance priority assessment described in this section.
C.R.S. § 22-43.7-109 Financial assistance for public school capital construction - application requirements - evaluation criteria - local match requirements - technology grants - career and technical education capital construction grants - rules - definitions - repeal
22-43.7-109. Financial assistance for public school capital construction - application requirements - evaluation criteria - local match requirements - technology grants - career and technical education capital construction grants - rules - definitions - repeal. (1) For fiscal years commencing on or after July 1, 2008, the board, with the support of the division and subject to the approval of the state board and, in the case of financial assistance that involves financed purchase of an asset or certificate of participation agreements, subject to both the preliminary approval of the state board and the final approval of the capital development committee, regarding financial assistance awards as specified in this section, shall provide financial assistance as specified in this section subject to the following limitations:
(a) The board may only provide financial assistance for a capital construction project for a public school facility that the applicant owns or will have the right to own in the future under the terms of a financed purchase of an asset or certificate of participation agreement with the owner of the facility or a sub-financed purchase of an asset or certificate of participation agreement with the state entered into pursuant to section 22-43.7-110 (2).
(b) The board may only provide financial assistance for a capital construction project for a public school in existence for at least three years at any time before the board receives an application for financial assistance.
(1.5) (a) Notwithstanding any provision of this article to the contrary, for fiscal years commencing on or after July 1, 2016, and subject to rules adopted by the board pursuant to paragraph (b) of this subsection (1.5), the board, with the support of the division and subject to the approval of the state board and the lessor of the property, may provide financial assistance as specified in this section to an applicant that is operating or will operate in the next budget year in a leased facility that is:
(I) Listed on the state inventory of real property and improvements and other capital assets maintained by the office of the state architect pursuant to section 24-30-1303.5, C.R.S.; or
(II) State-owned property leased by the state board of land commissioners, described in section 36-1-101.5, C.R.S., to the applicant.
(b) The board shall promulgate rules relating to the award of financial assistance pursuant to this subsection (1.5).
(c) It is the intent of the general assembly that an award of financial assistance pursuant to this subsection (1.5) must be used to preserve or enhance the value of state-owned, leased property.
(2) (a) Except as otherwise provided in subparagraph (II) of paragraph (b) of this subsection (2), the board shall establish an annual financial assistance timeline for use by applicants in applying for financial assistance and otherwise meeting financial assistance requirements and for use by the board in reviewing financial assistance applications and recommending financial assistance awards to the state board. The timeline shall specify:
(I) A deadline for applicants to submit financial assistance applications to the board that allows sufficient time for submission of such applications;
(II) The period in which the board, with the support of the division, will review financial assistance applications;
(III) A deadline, no later than June 7, 2013, and no later than June 1 of each year thereafter, for the board to submit to the state board the prioritized list of projects for which the board recommends the provision of financial assistance as required by subsection (7) of this section; and
period in which the board, with the support of the division, will review financial assistance applications;
(III) A deadline, no later than June 7, 2013, and no later than June 1 of each year thereafter, for the board to submit to the state board the prioritized list of projects for which the board recommends the provision of financial assistance as required by subsection (7) of this section; and
(IV) Any additional deadlines or deadline extension periods needed to ensure that applicants seeking voter approval to obtain matching moneys required pursuant to subsection (9) of this section have sufficient opportunity to obtain such voter approval or otherwise needed to ensure the efficient and effective administration of this article.
(b) Notwithstanding the provisions of paragraph (a) of this subsection (2):
(I) The board:
(A) After receiving an application for emergency financial assistance made pursuant to subsection (8) of this section, may provide emergency financial assistance to an applicant at any time; and
(B) May establish a timeline for the 2008-09 fiscal year or the 2008-09 and 2009-10 fiscal years only that takes into account any incomplete status of the priority assessment required by section 22-43.7-108, allows awards of financial assistance to be made based on consideration of so much of the assessment as has been completed, and differs from subsequent annual timelines.
(II) In order to ensure efficient submission and review of financial assistance applications and allow the board to provide financial assistance as soon as is feasible, on and after May 22, 2008, but before the appointment of the board, the state board, or such personnel of the department as the state board may designate, may establish interim financial assistance application deadlines and applications for use by applicants in applying for financial assistance for the 2008-09 fiscal year only. The state board may also designate department personnel to preliminarily review financial assistance applications until such time as the board and the director of the division have been appointed.
(3) A charter school that chooses to apply for financial assistance must apply directly to the board. A charter school shall notify its authorizer if the charter school applies for financial assistance. The authorizer for an applying charter school may submit a letter to the board stating its position on the application. The Colorado school for the deaf and blind shall also apply for financial assistance directly. Financial assistance awarded to a charter school as a matching cash grant shall be provided to the authorizer, which shall distribute all financial assistance received as a grant to the charter school and may not retain any portion of such money for any purpose. All other financial assistance shall be provided in the form of payments made by the board directly to a lessor or trustee as required by the terms of the applicable financed purchase of an asset or certificate of participation agreement.
(4) Applications for financial assistance submitted to the board must be in a form prescribed by the board and must include:
(a) A description of the scope and nature of the public school facility capital construction project for which financial assistance is sought;
(b) A description of the architectural, functional, and construction standards that are to be applied to the capital construction project that indicates whether the standards are consistent with the public school facility construction guidelines established by the board pursuant to section 22-43.7-107 and provides an explanation for the use of any standard that is not consistent with the guidelines;
(c) The estimated amount of financial assistance needed for the capital construction project and the form and amount of matching moneys that the applicant will provide for the project;
t with the public school facility construction guidelines established by the board pursuant to section 22-43.7-107 and provides an explanation for the use of any standard that is not consistent with the guidelines;
(c) The estimated amount of financial assistance needed for the capital construction project and the form and amount of matching moneys that the applicant will provide for the project;
(d) (I) If the capital construction project involves the construction of a new public school facility or a major renovation of an existing public school facility, a demonstration of the ability and willingness of the applicant to maintain the project over time that includes, at a minimum, the establishment of a capital renewal budget and a commitment to make annual contributions to a capital renewal reserve within a school district's capital reserve fund or any functionally similar reserve fund separately maintained by an applicant that is not a school district.
(II) As used in this paragraph (d), "capital renewal reserve" means moneys set aside by an applicant for the specific purpose of replacing major public school facility systems with projected life cycles such as roofs, interior finishes, electrical systems and heating, ventilating, and air conditioning systems.
(e) If the application is for financial assistance for the renovation, reconstruction, expansion, or replacement of an existing public school facility, a description of the condition of the public school facility at the time the applicant purchased or completed the construction of the public school facility and, if the public school facility was not new or was not adequate at that time, the rationale of the applicant for purchasing the public school facility or constructing it in the manner in which it did;
(e.5) If the application is for financial assistance for state fiscal year 2019-20 or for any subsequent state fiscal year and is for either the construction of a new public school facility that will replace one or more existing public school facilities or the reconstruction or expansion of an existing public school facility and if the applicant will stop using an existing public school facility for its current use if it receives the grant, the applicant's plan for the future use or disposition of the existing public school facility and the estimated cost of implementing the plan.
(f) A statement regarding the means by which the applicant intends to provide matching money required for the projects, including but not limited to means such as voter-approved multiple-fiscal year debt or other financial obligations; utility cost savings associated with any utility costs-savings contract, as defined in section 24-30-2001 (6); gifts, grants, donations, a loan obtained pursuant to section 22-43.7-110.5, or any other means of financing permitted by law; or the intent of the applicant to seek a waiver of the matching money requirement pursuant to subsection (10) of this section. If an applicant that is a school district or a board of cooperative services with a participating school district intends to raise matching money by obtaining voter approval to enter into a sub-financed purchase of an asset or certificate of participation agreement that constitutes an indebtedness of the district as authorized by section 22-32-127, it shall indicate whether it has received the required voter approval or, if the election has not already been held, the anticipated date of the election.
district intends to raise matching money by obtaining voter approval to enter into a sub-financed purchase of an asset or certificate of participation agreement that constitutes an indebtedness of the district as authorized by section 22-32-127, it shall indicate whether it has received the required voter approval or, if the election has not already been held, the anticipated date of the election.
(g) A description of any efforts by the applicant to coordinate capital construction projects with local governmental entities or community-based or other organizations that provide facilities or services that benefit the community in order to more efficiently or effectively provide such facilities or services, including but not limited to a description of any financial commitment received from any such entity or organization that will allow better leveraging of any financial assistance awarded;
(g.5) If deemed relevant by the applicant, a statement of the applicant's annualized utility costs, including electricity, natural gas, propane, water, sewer, waste removal, telecommunications, internet, or other monthly billed utility services, and the amount of any reduction in such costs expected to result if the applicant receives financial assistance; and
(h) Any other information that the board may require for the evaluation of the project.
(5) The board, taking into consideration the financial assistance priority assessment conducted pursuant to section 22-43.7-108, shall prioritize applications that describe public school facility capital construction projects deemed eligible for financial assistance based on the following criteria, in descending order of importance:
(a) (I) (A) Projects that will address safety hazards or health concerns at existing public school facilities, including concerns relating to public school facility security, and projects that are designed to incorporate technology into the educational environment.
(B) As used in this subsection (5)(a)(I), "technology" means hardware, devices, or equipment necessary for individual student learning and classroom instruction, including access to electronic instructional materials, or necessary for professional use by a classroom teacher.
(II) In prioritizing an application for a public school facility renovation project that will address safety hazards or health concerns, the board shall consider the condition of the entire public school facility for which the project is proposed and determine whether it would be more fiscally prudent to replace the entire facility than to provide financial assistance for the renovation project.
(b) Projects that will relieve overcrowding in public school facilities, including but not limited to projects that will allow students to move from temporary instructional facilities into permanent facilities;
(b.5) Projects that will provide career and technical education capital construction in public school facilities; and
(c) Repealed.
(c.3) Projects that assist public schools to replace prohibited American Indian mascots as required by section 22-1-133 (2).
s, including but not limited to projects that will allow students to move from temporary instructional facilities into permanent facilities;
(b.5) Projects that will provide career and technical education capital construction in public school facilities; and
(c) Repealed.
(c.3) Projects that assist public schools to replace prohibited American Indian mascots as required by section 22-1-133 (2).
(d) All other projects.
(6) The board may request that the division undertake a preliminary review of any or all applications for financial assistance, and the board may also request that any department, agency, or institution of state government with expertise or experience in construction management provide assistance to the board with regard to the evaluation of such applications for financial assistance.
(7) (a) Pursuant to the timelines established pursuant to subsection (2) of this section for any fiscal year for which financial assistance is to be awarded, and after prioritizing public school facility capital construction projects as specified in subsection (5) of this section, the board shall submit to the state board a prioritized list of projects for which the board recommends the provision of financial assistance. The prioritized list must include the board's recommendation as to the amount and type of financial assistance to be provided and a statement of the source and amount of applicant matching money for each recommended project based upon information provided by the applicant. The board may recommend that any specific project only receive financial assistance if another higher priority project or group of projects becomes ineligible for financial assistance due to the inability of an applicant to raise required matching money by a deadline prescribed by the board as a condition of a financial assistance award for the higher priority project or group of projects. If an applicant is approved for an award of financial assistance as an alternate award recipient and the applicant successfully raises required matching money through voter-approval of a ballot question for contracting bonded indebtedness but does not actually receive financial assistance because all primary award recipients or higher priority alternate award recipients also successfully raised required matching money, the alternate award recipient may resubmit its application for financial assistance as previously approved during the next application cycle. If the board, in consultation with the state treasurer, determines that the combination of matching money raised by the alternate award recipient, plus either unspent proceeds from completed financed purchase of an asset or certificate of participation agreements or money to be raised through entry into an additional financed purchase of an asset or certificate of participation agreement that the state has the capacity to execute, or both, are sufficient to fund the applicant's project, the board may award financial assistance to the applicant and, if necessary, order the state treasurer to enter into a financed purchase of an asset or certificate of participation agreement on behalf of the state. The state board shall review and make decisions regarding the prioritized list no later than June 20 of each year and may approve, disapprove, or modify the provision of financial assistance for any project recommended by the board if the state board concludes that the board misinterpreted the results of the prioritization assessment conducted pursuant to section 22-43.7-108 or misapplied the prioritization criteria specified in subsection (5) of this section. The state board shall specifically explain in writing its reasons for finding that the board misinterpreted the results of the priority assessment or misapplied the prioritization criteria when disapproving or modifying any financial assistance award recommended by the board.
cted pursuant to section 22-43.7-108 or misapplied the prioritization criteria specified in subsection (5) of this section. The state board shall specifically explain in writing its reasons for finding that the board misinterpreted the results of the priority assessment or misapplied the prioritization criteria when disapproving or modifying any financial assistance award recommended by the board.
(b) No later than June 25 of each year, the state board shall submit to the capital development committee a revised prioritized list that includes only those projects for which the state board is recommending awards of financial assistance that involve financed purchase of an asset or certificate of participation agreements. The state board shall submit with the list the information regarding the details of the financing of the listed projects that the board submitted to the state board as required by subsection (7)(a) of this section. No later than July 15 of each year, the capital development committee may approve the list or may disapprove the list if the committee concludes that the inclusion of one or more of the projects on the list will unreasonably increase the cost of providing financial assistance that involves financed purchase of an asset or certificate of participation agreements for all of the projects on the list. If the capital development committee does not approve or disapprove the list by July 15, it is deemed to have approved the list as submitted.
(c) If the capital development committee disapproves the revised prioritized list, it shall provide its reasons for doing so in writing to the board no later than July 20. No later than August 1, the board may resubmit the list with modifications or additional information, or both, that address the committee's concerns. No later than August 15, the capital development committee may approve the entire resubmitted list or may disapprove one or more projects on the resubmitted list if the committee again concludes that the inclusion of the project or projects will unreasonably increase the cost of providing financial assistance that involves financed purchase of an asset or certificate of participation agreements for all of the projects on the list. If the capital development committee disapproves a project on the resubmitted list, the project shall not receive financial assistance that involves financed purchase of an asset or certificate of participation agreements, and the remaining projects on the resubmitted list shall receive such financial assistance as recommended by the state board. If the capital development committee does not approve or disapprove the resubmitted list by August 15, it is deemed to have approved the list as resubmitted.
(8) (a) Notwithstanding any other provision of this section, in the event of a public school facility emergency, an entity that may be an applicant and that is operating in the affected public school facility may submit an application to the board for emergency financial assistance to address the emergency. The application shall disclose any insurance proceeds, cash reserves, or capital construction reserves available to pay the costs of addressing the emergency, and insurance proceeds that become available only after an applicant has received emergency financial assistance shall be used first to reimburse the assistance fund for the emergency financial assistance. The board shall meet within fifteen days of receiving the application to determine whether to recommend to the state board that emergency financial assistance be provided, the amount of any assistance recommended to be provided, and any recommended conditions that the applicant must meet to receive the assistance
e used first to reimburse the assistance fund for the emergency financial assistance. The board shall meet within fifteen days of receiving the application to determine whether to recommend to the state board that emergency financial assistance be provided, the amount of any assistance recommended to be provided, and any recommended conditions that the applicant must meet to receive the assistance. The state board shall meet within five days of receiving the board's recommendations to determine whether to authorize the board to award emergency financial assistance as recommended by the board, modify the recommended award of assistance, or prohibit the board from awarding assistance. The board may use any unencumbered and unexpended moneys in the assistance fund, including the emergency reserve of the assistance fund, to provide emergency financial assistance. The board may use up to ten percent of the moneys in the assistance fund that have been transferred to the fund pursuant to section 22-43.7-104 (2)(d) during the applicable fiscal year to prioritize financial assistance to applicants pursuant to paragraph (c) of this subsection (8).
(b) As used in this subsection (8), "public school facility emergency" means an unanticipated event that makes all or a significant portion of a public school facility unusable for educational purposes or threatens the health or safety of persons using the public school facility.
(c) An entity that may be an applicant, that is operating a public school facility that is located in an area of the state in which the governor declared a disaster emergency pursuant to section 24-33.5-704 (4), C.R.S., and that experienced a public school facility emergency as a result of the disaster emergency may apply to the board for emergency financial assistance to address the emergency pursuant to this subsection (8). In determining whether to recommend to the state board that emergency financial assistance be provided, the amount of any assistance recommended to be provided, and any recommended conditions that the applicant must meet to receive assistance, the board shall consider the findings that the division provided to the board pursuant to section 22-43.7-105 (3). Based on the criteria specified in paragraph (b) of subsection (10) of this section, the board may waive or reduce the matching moneys requirement specified in subsection (9) of this section for any recipient of emergency financial assistance pursuant to this paragraph (c).
(9) Except as otherwise provided in subsections (10) and (15) of this section, the board may recommend and the state board may approve financial assistance that does not involve a financed purchase of an asset or certificate of participation agreement for or recommend to the capital development committee the approval of financial assistance that involves a financed purchase of an asset or certificate of participation agreement for a public school facility capital construction project only if the applicant provides matching money in an amount equal to a percentage of the total financing for the project determined by the board after consideration of the applicant's financial capacity, as determined by the following factors:
assistance that involves a financed purchase of an asset or certificate of participation agreement for a public school facility capital construction project only if the applicant provides matching money in an amount equal to a percentage of the total financing for the project determined by the board after consideration of the applicant's financial capacity, as determined by the following factors:
(a) With respect to a school district's application for financial assistance:
(I) The school district's assessed value per pupil relative to the state average;
(II) The school district's median household income relative to the state average;
(III) The total dollar amount of all school district mills, per capita, relative to the statewide average;
(IV) The percentage of pupils enrolled in the school district who are eligible for free or reduced-cost lunch;
(V) The school district's current available bond capacity remaining; and
(VI) Repealed.
(VII) The amount of effort put forth by the school district to obtain voter approval for a ballot question for bonded indebtedness, including but not limited to a ballot question for entry by the district into a sub-financed purchase of an asset or certificate of participation agreement of the type that constitutes an indebtedness of the district pursuant to section 22-32-127, during the ten years preceding the year in which the district submitted the application, which factor may be used only to reduce the percentage of matching money required from a district that has put forth such effort and not to increase the amount of matching money required from any district;
(b) With respect to a board of cooperative services' application for financial assistance:
(I) The average assessed value per pupil of all members of the board of cooperative services participating in the capital construction project relative to the state average;
(II) The average median household income of all members of the board of cooperative services participating in the capital construction project relative to the state average;
(III) The average total dollar amount of all school district mills, per capita, of all members of the board of cooperative services participating in the capital construction project relative to the statewide average;
(IV) The percentage of pupils enrolled in the member schools within the board of cooperative services that are participating in the capital construction project who are eligible for free or reduced-cost lunch;
(V) The average available bond capacity remaining of all members of the board of cooperative services participating in the capital construction project; and
(VI) Repealed.
(VII) The amount of effort put forth by the members of the board of cooperative services to obtain voter approval for a ballot question for bonded indebtedness, including but not limited to a ballot question for entry by any member into a sub-financed purchase of an asset or certificate of participation agreement of the type that constitutes an indebtedness of the member pursuant to section 22-32-127, during the ten years preceding the year in which the board of cooperative services submitted the application. This factor may be used only to reduce the percentage of matching money required from a board of cooperative services if one or more of its members have put forth such effort and may not be used to increase the amount of matching money required from any board of cooperative services.
-127, during the ten years preceding the year in which the board of cooperative services submitted the application. This factor may be used only to reduce the percentage of matching money required from a board of cooperative services if one or more of its members have put forth such effort and may not be used to increase the amount of matching money required from any board of cooperative services.
(c) (I) With respect to a charter school's application for financial assistance, and subject to adjustment pursuant to subsections (9)(c)(II) to (9)(c)(V) of this section:
(A) For a district charter school that is occupying a district facility and paying only the direct costs of occupancy for its facility pursuant to section 22-30.5-104 (7)(c), the match percentage of the district charter school's authorizing district;
(B) For district charter schools that are not included in subsection (9)(c)(I)(A) of this section, seventy-five percent of the match percentage of the district charter school's authorizing school district; or
(C) Fifty percent of the average match percentages for all school districts in the state for an institute charter school;
(II) Whether a district charter school's authorizer retains no more than ten percent of its capacity to issue bonds pursuant to article 42 of this title;
(III) In the ten years preceding the year in which the charter school submits the application, the number of times the charter school has sought or been afforded:
(A) Grant funding for capital needs from a source other than the assistance fund; and
(B) Funding, including financing, for capital construction, other than state aid pursuant to section 22-54-124 from any other source;
(IV) If the charter school is a district charter school, the student enrollment of the district charter school as a percentage of the student enrollment of the charter school's authorizing school district; and
(V) The percentage of students enrolled in the charter school who are eligible for the federal free and reduced-cost lunch program in relation to the overall percentage of students enrolled in the public schools in the state who are eligible for the federal free and reduced-cost lunch program.
(9.5) (a) For the 2023-24 state fiscal year, the board shall allocate forty-nine million seven hundred five thousand two hundred twenty dollars of the annual appropriation for public school capital construction assistance board cash grants for the purpose of funding supplemental grants related solely to cost overruns in projects approved pursuant to this part 1 that are caused by COVID-19 pandemic-related inflationary pressures and supply chain disruptions. This funding is available for supplemental grants that are requested through the regular 2023-24 grant cycle. Any money remaining for supplemental grants after awards for supplemental grants are made during the regular grant cycle shall be available for a second 2023-24 supplemental grant cycle described in subsection (9.5)(b) of this section. Notwithstanding other deadlines in this section to the contrary, the second grant cycle must provide for additional requests following the timelines and requirements established by the board and subject to subsections (9.5)(b) and (9.5)(c) of this section. Any money remaining after the supplemental grants are awarded in the second 2023-24 grant cycle must be awarded to fund new projects under this part 1 that were not awarded funding in the initial grant round conducted pursuant to subsection (7)(a) of this section.
sts following the timelines and requirements established by the board and subject to subsections (9.5)(b) and (9.5)(c) of this section. Any money remaining after the supplemental grants are awarded in the second 2023-24 grant cycle must be awarded to fund new projects under this part 1 that were not awarded funding in the initial grant round conducted pursuant to subsection (7)(a) of this section.
(b) Entities that were awarded capital construction assistance grants for fiscal year 2020-21 or fiscal year 2021-22 that have not been able to complete their projects as planned due to inflation and for whom inflationary needs were not adequately addressed through supplemental grants awarded in the fiscal year 2022-23 award cycle are eligible to apply through June 15, 2023, for funding through the second 2023-24 fiscal year grant cycle. The board shall determine the requirements of the supplemental grant process for supplemental projects and determine awards no later than August 17, 2023. Supplemental grant requests must be submitted on an application provided by the division. Supplemental grants must be awarded as necessary to preserve the integrity of the project goals as initially approved by the board and the state board without expansion of initial project scope.
(c) Notwithstanding subsection (7)(a) of this section or any other provision of this part 1 to the contrary, the board has the sole power to award supplemental grants pursuant to this subsection (9.5) and is not required to obtain the approval of the state board or any other entity before awarding supplemental grants.
(d) Except as provided in subsections (9.5)(b) and (9.5)(c) of this section, the second 2023-24 fiscal year grant cycle must comply with the provisions of this article 43.7.
(e) This subsection (9.5) is repealed, effective July 1, 2027.
(10) (a) A school district shall not be required to provide any amount of matching moneys in excess of the difference between the school district's limit of bonded indebtedness, as calculated pursuant to section 22-42-104, and the total amount of outstanding bonded indebtedness already incurred by the school district.
(b) An applicant may apply to the board for a waiver or reduction of the matching moneys requirement specified in subsection (9) of this section. The board may grant a waiver or reduction if it determines that the waiver or reduction would significantly enhance educational opportunity and quality within a school district, board of cooperative services, or applicant school, that the cost of complying with the matching moneys requirement would significantly limit educational opportunities within a school district, board of cooperative services, or applicant school, or that extenuating circumstances deemed significant by the board make a waiver appropriate.
educational opportunity and quality within a school district, board of cooperative services, or applicant school, that the cost of complying with the matching moneys requirement would significantly limit educational opportunities within a school district, board of cooperative services, or applicant school, or that extenuating circumstances deemed significant by the board make a waiver appropriate.
(c) The amount of bonded indebtedness that a school district that is a member of a board of cooperative services incurs in order to provide matching moneys for the board of cooperative services shall not constitute bonded indebtedness of the school district subject to the limits on bonded indebtedness specified in section 22-42-104.
(11) In determining the amount of each recommended award of financial assistance, the board shall seek to be as equitable as practicable by considering the total financial capacity of each applicant.
(12) Notwithstanding any provision of this section to the contrary, the match percentage for a charter school calculated pursuant to paragraph (c) of subsection (9) of this section shall not be higher than the highest match percentage for a school district, or lower than the lowest match percentage for a school district, in the same grant cycle.
(13) For fiscal year 2018-19 and for each succeeding fiscal year, the board, with the support of the division and subject to the approval of the state board regarding financial assistance awards as specified in this section, may provide financial assistance in the form of technology grants. In conjunction with its establishment of an annual financial assistance timeline as required by subsection (2)(a) of this section, the board shall annually notify all potential applicants, by such means as the board deems appropriate, that it will accept and consider applications for financial assistance in the form of technology grants. To be eligible for a technology grant, an applicant for financial assistance must apply specifically for such a grant in accordance with the financial assistance timeline established by the board pursuant to subsection (2)(a) of this section and must submit an application in the form prescribed by the board pursuant to subsection (4) of this section. The board may award a technology grant to fund technology, including but not limited to communications and internet connectivity technology, technology for individual student learning and classroom instruction, and technology as defined in subsection (5)(a)(I)(B) of this section.
(14) For fiscal year 2019-20 and for each succeeding fiscal year, the board, with the support of the division and subject to the approval of the state board regarding financial assistance awards as specified in this section, may provide financial assistance in the form of career and technical education capital construction grants. In conjunction with its establishment of an annual financial assistance timeline as required by subsection (2)(a) of this section, the board shall annually notify all potential applicants, by such means as the board deems appropriate, that it will accept and consider applications for financial assistance in the form of career and technical education capital construction grants. To be eligible for a career and technical education capital construction grant, an applicant for financial assistance must apply specifically for that grant in accordance with the financial assistance timeline established by the board pursuant to subsection (2)(a) of this section and must submit an application in the form prescribed by the board pursuant to subsection (4) of this section. The board may award career and technical education capital construction grants to fund career and technical education capital construction projects
ly for that grant in accordance with the financial assistance timeline established by the board pursuant to subsection (2)(a) of this section and must submit an application in the form prescribed by the board pursuant to subsection (4) of this section. The board may award career and technical education capital construction grants to fund career and technical education capital construction projects. In awarding grants, the board shall consider whether each grant application describes a career and technical education capital construction project that concerns a professional field that is identified as a key industry in the most recent annual Colorado talent report produced by the state work force development council pursuant to section 24-46.3-103 (3). Nothing in this subsection (14) prohibits the board from considering other factors in awarding and denying career and technical education capital construction grants.
(15) Repealed.
C.R.S. § 22-43.7-110 Financial assistance - grants - financed purchase of an asset agreements
22-43.7-110. Financial assistance - grants - financed purchase of an asset agreements. (1) The board may provide financial assistance for those public school facility capital construction projects for which the state board has authorized the provision of financial assistance pursuant to section 22-43.7-109 (7) by providing matching grants from the assistance fund.
(2) Subject to the following requirements and limitations, the board may also instruct the state treasurer to enter into financed purchase of an asset or certificate of participation agreements on behalf of the state to provide financial assistance to applicants by financing public school facility capital construction projects for which the state board has recommended and the capital development committee has authorized the provision of financial assistance that involves a financed purchase of an asset or certificate of participation agreement pursuant to section 22-43.7-109 (7):
(a) Subject to the limitation specified in subsection (2)(b) of this section, the maximum total amount of annual payments payable by the state during any fiscal year under the terms of all outstanding financed purchase of an asset or certificate of participation agreements entered into by the state treasurer as instructed by the board pursuant to this subsection (2) is:
(I) Twenty million dollars for the 2008-09 fiscal year;
(II) Forty million dollars for the 2009-10 fiscal year;
(III) Sixty million dollars for the 2010-11 fiscal year;
(IV) Eighty million dollars for the 2011-12 fiscal year and for each fiscal year thereafter through the 2015-16 fiscal year;
(V) Ninety million dollars for the 2016-17 fiscal year;
(VI) One hundred million dollars for the 2017-18 and 2018-19 fiscal years;
(VII) One hundred five million dollars for the 2019-20 fiscal year;
(VIII) One hundred twenty-five million dollars for the 2020-21 fiscal year and for each fiscal year thereafter through the 2023-24 fiscal year; and
(IX) One hundred fifty million dollars for the 2024-25 fiscal year and for each fiscal year thereafter.
(b) (I) The state treasurer may enter into financed purchase of an asset or certificate of participation agreements for which the aggregate annual payments of principal or interest for any fiscal year exceed one-half of the maximum total amount of annual payments permitted for the fiscal year pursuant to subsection (2)(a) of this section only if the aggregate amount of matching money expected to be credited to the assistance fund pursuant to subsection (2)(c) of this section and section 22-43.7-104 (2)(b)(IV) and any interest or income derived from the deposit and investment of the matching money is at least equal to the annual payments of principal and interest that exceed one-half of said maximum total amount.
(II) For purposes of subparagraph (I) of this paragraph (b), in calculating one-half the maximum total amount of annual lease payments permitted for the fiscal year pursuant to paragraph (a) of this subsection (2), the state treasurer shall not include any amount of annual lease payments of principal or interest that are attributable to loans of matching moneys for eligible charter schools that the board approves pursuant to section 22-43.7-110.5.
raph (b), in calculating one-half the maximum total amount of annual lease payments permitted for the fiscal year pursuant to paragraph (a) of this subsection (2), the state treasurer shall not include any amount of annual lease payments of principal or interest that are attributable to loans of matching moneys for eligible charter schools that the board approves pursuant to section 22-43.7-110.5.
(c) Whenever the state treasurer enters into a financed purchase of an asset or certificate of participation agreement on behalf of the state pursuant to this subsection (2) to finance a public school facility, the board shall enter into a sub-financed purchase of an asset or certificate of participation agreement for the facility on behalf of the state with the applicant that will use the facility. The sub-financed purchase of an asset or certificate of participation agreement shall require the applicant to perform for the state all duties of the state to maintain and operate the public school facility that are required by the financed purchase of an asset or certificate of participation agreement and to make periodic rental payments to the state, which payments shall be credited to the assistance fund as matching money of the applicant. The sub-financed purchase of an asset or certificate of participation agreement shall also provide for the transfer of ownership of the public school facility from the state to the applicant upon the fulfillment of both the state's obligations under the financed purchase of an asset or certificate of participation agreement and the applicant's obligations under the sub-financed purchase of an asset or certificate of participation agreement. A sub-financed purchase of an asset or certificate of participation agreement may provide that the legal obligation of an applicant to make periodic rental payments is subject to the annual appropriation of money for that purpose by the applicant if the absence of such a provision would create a district multiple-year fiscal obligation without voter approval in advance in violation of section 20 (4)(b) of article X of the state constitution.
(d) A financed purchase of an asset or certificate of participation agreement entered into by the state treasurer on behalf of the state pursuant to this subsection (2) shall provide that all payment obligations of the state under the agreement are subject to annual appropriation by the general assembly and that obligations shall not be deemed or construed as creating an indebtedness of the state within the meaning of any provision of the state constitution or the laws of the state concerning or limiting the creation of indebtedness by the state.
(e) A financed purchase of an asset or certificate of participation agreement entered into by the state treasurer on behalf of the state pursuant to this subsection (2) may contain such terms, provisions, and conditions as the state treasurer may deem appropriate. The provisions shall allow the state to receive title to the real and personal property that is the subject of the agreement on or prior to the expiration of the entire term of the agreement, including all optional renewal terms. Such a financed purchase of an asset or certificate of participation agreement may further provide for the issuance, distribution, and sale of instruments evidencing rights to receive rentals and other payments made and to be made under the agreement. Such instruments shall not be notes, bonds, or any other evidence of indebtedness of the state within the meaning of any provision of the state constitution or the laws of the state concerning or limiting the creation of indebtedness by the state. Interest paid under a financed purchase of an asset or certificate of participation agreement, including interest represented by such instruments, shall be exempt from Colorado income tax.
bonds, or any other evidence of indebtedness of the state within the meaning of any provision of the state constitution or the laws of the state concerning or limiting the creation of indebtedness by the state. Interest paid under a financed purchase of an asset or certificate of participation agreement, including interest represented by such instruments, shall be exempt from Colorado income tax.
(f) The board may only enter into a sub-financed purchase of an asset or certificate of participation agreement on behalf of the state pursuant to this subsection (2) if the state treasurer has reviewed the agreement and provided written authorization to the board to enter into the agreement.
(g) If the state treasurer deems it to be necessary or advisable, the state treasurer may enter into a financed purchase of an asset or certificate of participation agreement on behalf of the state for only a portion of a public school facility for which financial assistance is being provided or for all or a portion of a different public school facility or other property of a school district.
(h) Notwithstanding the authority of the board to instruct the state treasurer to enter into financed purchase of an asset or certificate of participation agreements on behalf of the state, in order to ensure that financed purchase of an asset or certificate of participation agreements are entered into under favorable financial market conditions, the state treasurer shall have sole discretion to determine the timing of the state treasurer's entry into any financed purchase of an asset or certificate of participation agreement on behalf of the state pursuant to this subsection (2).
C.R.S. § 22-43.7-110.3 Department - charter school facilities assistance account - distribution - definitions
22-43.7-110.3. Department - charter school facilities assistance account - distribution - definitions. (1) Subject to annual appropriations, the department shall distribute the moneys credited to the charter school facilities assistance account created in section 22-43.7-104 (2)(d) as provided in this section. A qualified charter school may use moneys received from the charter school facilities assistance account for capital construction purposes.
(2) (a) The department shall annually distribute the moneys credited to the charter school facilities assistance account based on each school district's certified charter school pupil enrollment and each institute charter school's certified pupil enrollment for the applicable fiscal year.
(b) (I) Each school district that provides funding pursuant to section 22-30.5-112 or 22-30.5-112.1 to at least one qualified charter school in a fiscal year shall, for that fiscal year, receive an amount equal to the percentage of the total certified charter school pupil enrollment for all qualified charter schools statewide for the applicable fiscal year that is attributable to the district's certified charter school pupil enrollment, multiplied by the amount credited to the charter school facilities assistance account for the applicable fiscal year.
(II) A school district shall distribute the moneys received pursuant to this paragraph (b) to each qualified charter school of the school district in an amount equal to the percentage of the school district's certified charter school pupil enrollment that is attributable to pupils expected to be enrolled in the qualified charter school, multiplied by the total amount of moneys received by the school district pursuant to this paragraph (b) for the applicable fiscal year. The school district shall not retain any portion of the moneys received pursuant to this paragraph (b) to defray administrative expenses or for any other purpose.
(c) (I) The state charter school institute, in each fiscal year in which it distributes moneys to at least one institute charter school that is a qualified charter school, shall, for that fiscal year, receive an amount equal to the percentage of the total certified charter school pupil enrollment for all qualified charter schools for the applicable fiscal year that is attributable to institute charter schools that are qualified charter schools, multiplied by the amount credited to the charter school facilities assistance account for the applicable fiscal year.
(II) The state charter school institute shall distribute the moneys received pursuant to this paragraph (c) to each institute charter school that is a qualified charter school in an amount equal to the percentage of the total institute charter school certified pupil enrollment that is attributable to pupils expected to be enrolled in the qualified institute charter school, multiplied by the total amount of moneys received by the state charter school institute pursuant to this paragraph (c) for the applicable fiscal year. The state charter school institute shall not retain any portion of the moneys received pursuant to this paragraph (c) to defray administrative expenses or for any other purpose.
(d) As used in this section:
(I) "Capital construction" has the same meaning as provided in section 22-54-124 (1)(a).
(II) "District's certified charter school pupil enrollment" has the same meaning as provided in section 22-54-124 (1)(c).
(III) "Institute charter school's certified pupil enrollment" has the same meaning as provided in section 22-54-124 (1)(c.5).
(IV) "Qualified charter school" has the same meaning as provided in section 22-54-124 (1)(f.6).
(V) "Total certified charter school pupil enrollment" means the pupil enrollment certified by the department pursuant to section 22-54-124 (3)(b).
C.R.S. § 22-43.7-110.5 Charter school matching moneys loan program - rules - definitions
22-43.7-110.5. Charter school matching moneys loan program - rules - definitions. (1) As used in this section, unless the context otherwise requires:
(a) "Eligible charter school" means a charter school that is:
(I) A qualified charter school as defined in section 22-30.5-408 (1)(c); and
(II) Authorized to receive financial assistance pursuant to section 22-43.7-109 (7).
(b) "Loan program" means the charter school matching moneys loan program created in this section.
(2) (a) There is hereby created the charter school matching moneys loan program to assist eligible charter schools in obtaining the matching moneys required for an award of financial assistance pursuant to section 22-43.7-109. Through the loan program, the board may approve a loan for an eligible charter school in an amount that does not exceed fifty percent of the amount of matching moneys calculated for the eligible charter school pursuant to section 22-43.7-109 (9)(c).
(b) The board shall direct the state treasurer to include the amount of a loan approved pursuant to this section in the financed purchase of an asset or certificate of participation agreement entered into pursuant to section 22-43.7-110 (2) to provide financial assistance to the eligible charter school for which the loan is approved.
(3) An eligible charter school that chooses to seek a loan through the loan program shall apply to the board to receive a loan. The board shall promulgate rules pursuant to the "State Administrative Procedure Act", article 4 of title 24, C.R.S., establishing the contents of a loan application and the timelines and procedures for applying for a loan through the loan program.
(4) To receive a loan through the loan program, an eligible charter school shall:
(a) Authorize the state treasurer to withhold moneys payable to the eligible charter school in the amount of the loan payments pursuant to the procedure described in section 22-30.5-406;
(b) Pay an interest rate on the loan that is equal to the interest rate paid by the state treasurer on the financed purchase of an asset or certificate of participation agreement entered into pursuant to section 22-43.7-110 to provide financial assistance to the eligible charter school for which the loan is approved;
(c) Amortize the loan payments over the same period in years as the financed purchase of an asset or certificate of participation agreement entered into pursuant to section 22-43.7-110 to provide financial assistance to the eligible charter school for which the loan is approved; except that the eligible charter school may pay the full amount of the loan early without incurring a prepayment penalty; and
(d) Create an escrow account for the benefit of the state with a balance in the amount of six months of loan payments.
C.R.S. § 22-43.7-111 Reporting requirements - auditing by state auditor
22-43.7-111. Reporting requirements - auditing by state auditor. (1) Notwithstanding section 24-1-136 (11)(a)(I), no later than February 15, 2010, and no later than each February 15 thereafter, the board shall present a written report to the education and finance committees of the house of representatives and the senate and the capital development committee, or any successor committees, regarding the provision of financial assistance to applicants pursuant to this article 43.7. The report must include, at a minimum:
(a) An accounting of the financial assistance provided through the prior fiscal year that includes:
(I) A statement of the aggregate amount of financial assistance awarded through the prior fiscal year, including statements of the amount of grants provided, and the amount of payments made and payments committed to be made but not yet made in connection with financed purchase of an asset or certificate of participation agreements;
(II) A statement of the aggregate amount of financial assistance provided as grants and the aggregate amount of payments made in connection with financed purchase of an asset or certificate of participation agreements during the prior fiscal year;
(III) A list of the public school facility capital construction projects for which financial assistance has been provided, which must include:
(A) A sublist of projects for which financial assistance has been provided in the form of technology grants pursuant to section 22-43.7-109 (13);
(B) A sublist of projects for which financial assistance has been provided in the form of career and technical education capital construction grants pursuant to section 22-43.7-109 (14);
(C) A brief description of each project;
(D) A statement of the amount and type of financial assistance provided for each project and, where applicable, the amount of financial assistance committed to be provided for but not yet provided for each project;
(E) A statement of the amount of matching money provided by the applicant for each project and, where applicable, the amount of matching money committed to be provided by the applicant but not yet provided for each project; and
(F) A summary of the reasons of the board and the state board for providing financial assistance for the project; and
(IV) A list of the public school facility capital construction projects for which financial assistance has been provided during the prior fiscal year, which must include:
(A) A sublist of projects for which financial assistance has been provided in the form of technology grants pursuant to section 22-43.7-109 (13);
(B) A sublist of projects for which financial assistance has been provided in the form of career and technical education capital construction grants pursuant to section 22-43.7-109 (14);
(C) A brief description of each project;
(D) A statement of the amount and type of financial assistance provided for each project; and
(E) A statement of the amount of matching money provided by the applicant for each project.
(b) A summary of the findings and conclusions of any public school facility inspections conducted during the prior fiscal year;
(c) A summary of any differences between the common physical design elements and characteristics of the highest performing schools in the state and the lowest performing schools in the state as measured by academic productivity measures such as the state assessments administered pursuant to section 22-7-1006.3 or Colorado ACT results; and
cility inspections conducted during the prior fiscal year;
(c) A summary of any differences between the common physical design elements and characteristics of the highest performing schools in the state and the lowest performing schools in the state as measured by academic productivity measures such as the state assessments administered pursuant to section 22-7-1006.3 or Colorado ACT results; and
(d) A list of the financial assistance applications for public school facility capital construction that were denied financial assistance during the prior fiscal year, which must include a sublist of denied applications for projects for which financial assistance in the form of technology grants was requested pursuant to section 22-43.7-109 (13) and a sublist of denied applications for which financial assistance in the form of career and technical education capital construction grants was requested pursuant to section 22-43.7-109 (14), and that includes for each project:
(I) A brief project description;
(II) A statement of the amount and type of financial assistance requested for the project;
(III) A statement indicating whether or not the board recommended a financial assistance award for the project; and
(IV) A summary of the reasons why the board or the state board denied financial assistance for the project.
(e) An estimate, to the extent feasible, of the total amounts of revenues to be credited to the assistance fund during the current fiscal year and the next fiscal year and financial assistance to be awarded during the next fiscal year, including separate estimates of the total amounts of financial assistance to be awarded as cash grants and under the terms of financed purchase of an asset or certificate of participation agreements entered into pursuant to section 22-43.7-110 (2).
(f) Beginning in the report due no later than February 15, 2026, and continuing annually pursuant to subsection (1) of this section, in addition to the reporting requirements described in subsections (1)(a) to (1)(e) of this section, the report must also separately specify all the information described in subsections (1)(a) to (1)(e) of this section as each relates to charter schools, as applicable.
(2) No later than February 15, 2014, the board shall prepare and make available electronically on the website of the department a report to the taxpayers of the state regarding the provision of financial assistance to applicants pursuant to this article during the five prior fiscal years. The report shall include, at a minimum, the information specified in subsection (1) of this section for each of the five prior fiscal years and an aggregation of any of such information that can feasibly be aggregated for the full five-year period.
(3) Repealed.
C.R.S. § 22-43.7-112 Attorney general as legal advisor
22-43.7-112. Attorney general as legal advisor. The attorney general shall act as legal advisor for the board, and with the consent of the attorney general, the board may employ additional legal counsel.
C.R.S. § 22-43.7-113 Colorado school for the deaf and blind - special rules
22-43.7-113. Colorado school for the deaf and blind - special rules. Except to the extent otherwise provided by the board in rules promulgated in accordance with article 4 of title 24, C.R.S., in order to account for any revenue-raising limitations of the Colorado school for the deaf and blind created and existing pursuant to section 22-80-102 (1)(a) not shared by school districts, the school shall be subject to the same financial assistance application requirements and financial assistance prioritization criteria as a school district.
C.R.S. § 22-43.7-114 Capital construction assistance awarded for fiscal year 2007-08 - continued payment
22-43.7-114. Capital construction assistance awarded for fiscal year 2007-08 - continued payment. Any capital construction assistance awarded to school districts or charter schools prior to the end of the 2007-08 fiscal year pursuant to this article, as it existed prior to May 22, 2008, shall continue to be paid.
C.R.S. § 22-43.7-115 Tax increases not required
22-43.7-115. Tax increases not required. Nothing in this article shall be deemed to require a school district to increase taxes.
C.R.S. § 22-43.7-116 Open record and open meetings
22-43.7-116. Open record and open meetings. In exercising their powers and duties pursuant to this article, the board and the division shall be subject to the open meetings provisions of the "Colorado Sunshine Act of 1972", article 6 of title 24, C.R.S., as set forth in part 4 of said article, and the open records provisions set forth in article 72 of title 24, C.R.S.
C.R.S. § 22-43.7-201 Full-day kindergarten facility capital construction fund - creation - grants - definitions
22-43.7-201. Full-day kindergarten facility capital construction fund - creation - grants - definitions. (1) The full-day kindergarten facility capital construction fund, referred to in this part 2 as the "fund", is hereby created in the state treasury. The fund consists of any money that the general assembly may appropriate or transfer to the fund. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund. Subject to annual appropriation by the general assembly, the public school capital construction assistance board may expend money from the fund as specified in this part 2.
(2) Except as otherwise provided in subsection (4) of this section, the public school capital construction assistance board shall use the money in the fund to provide grants or matching grants to any school district or institute charter school that is undertaking a capital construction project to renovate a facility, rent a facility, or provide a temporary auxiliary facility that will be used in conjunction with providing a full-day kindergarten program. The board shall award a grant or matching grant pursuant to this part 2 to a school district or institute charter school only if, without the grant or matching grant, the school district or institute charter school would be unable to provide a facility in which to offer a full day of kindergarten to more students than were offered a full day of kindergarten in the 2007-08 budget year. For purposes of this part 2, "temporary auxiliary facility" means a temporary building that will be placed on the same campus as a main educational facility.
(3) Except as otherwise provided in subsection (4) of this section, each budget year, the board shall use fifty percent of the money in the fund to provide grants pursuant to this part 2 and fifty percent of the money in the fund to provide matching grants pursuant to this part 2.
(4) (a) As used in this subsection (4), unless the context otherwise requires:
(I) "Applicant share percentage" means, with respect to an applicant, the percentage of total equitably adjusted funding statewide for both all applicants and all potential applicants who do not actually apply for grants as authorized by this subsection (4) represented by the equitably adjusted funding for the applicant.
(II) "Equitable adjustment factor" means, with respect to both an applicant and a potential applicant that does not actually apply for a grant as authorized by this subsection (4), the sum of the applicant's:
(A) Size factor, as determined pursuant to article 54 of this title 22;
(B) Percentage of enrolled pupils who are eligible for free or reduced-price lunch;
(C) Percentage of enrolled pupils who are English language learners, as defined in section 22-24-103 (4); and
(D) Percentage of enrolled pupils who are special education students.
(III) "Equitably adjusted funding" means, with respect to both an applicant and a potential applicant who does not actually apply for a grant as authorized by this subsection (4), the product of total applicant per pupil funding and the equitable adjustment factor.
(IV) "Total applicant per pupil funding" means, with respect to both an applicant and a potential applicant who does not actually apply for a grant as authorized by this subsection (4), the product of the number of children enrolled in a full-day kindergarten educational program provided by the applicant during the 2019-20 budget year and the applicant's per pupil funding amount, after application of section 22-54-104 (5)(g), for the 2019-20 budget year.
ct to both an applicant and a potential applicant who does not actually apply for a grant as authorized by this subsection (4), the product of the number of children enrolled in a full-day kindergarten educational program provided by the applicant during the 2019-20 budget year and the applicant's per pupil funding amount, after application of section 22-54-104 (5)(g), for the 2019-20 budget year.
(b) On July 1, 2019, the state treasurer shall transfer twenty-five million dollars from the assistance fund to the fund. During the 2018-19 budget year, the board shall accept applications from applicants that will provide a full-day kindergarten educational program for the 2019-20 budget year for financial assistance in the form of formula-based grants in a total amount of up to twenty-five million dollars for the 2019-20 budget year. The board shall establish grant application requirements and deadlines that allow applicants to efficiently provide the information needed to allow the board to quickly determine the estimated amount of the formula-based grant to be awarded to each applicant and expedite distribution of the formula-based grants.
(c) The amount of the grant to be provided to each applicant pursuant to subsection (4)(b) of this section is determined by the following formula:
The lesser of $25,000,000 x the applicant share percentage or the amount actually applied for by the applicant.
On July 1, 2020, the state treasurer shall transfer all unexpended and unencumbered state money in the full-day kindergarten facility capital construction fund to the state education fund created in section 17 (4) of article IX of the state constitution.
(d) On July 1, 2019, or as soon as feasible thereafter, the board shall cause to be distributed to each applicant eighty percent of the estimated amount of the applicant's formula-based grant. As soon as feasible following the final determination of statewide and applicant full-day kindergarten enrollment for the 2019-20 budget year and no later than February 15, 2020, the board shall determine the final amount of each applicant's formula-based grant and cause to be distributed to each applicant any additional amount needed to ensure that each applicant receives the full final amount of its grant.
(e) As soon as possible after receiving each distribution described in this section, the authorizer for a charter school that operates a full-day kindergarten educational program shall distribute to the charter school, in a lump sum, one hundred percent of the amount received that is attributable to the full-day kindergarten pupils enrolled in the charter school.
(f) An applicant may expend a formula-based grant received pursuant to this subsection (4) during the 2019-20 budget year for the purpose of acquiring furniture, fixtures, or other fixed or moveable equipment, excluding construction equipment, that is needed to conduct a full-day kindergarten educational program or a preschool educational program.
C.R.S. § 22-43.7-202 Applications for grants and matching grants - rules
22-43.7-202. Applications for grants and matching grants - rules. (1) Each applicant for a grant or matching grant pursuant to this part 2 shall submit an application to the board no later than July 1 for the budget year commencing on that July 1. An individual school of a school district, including a district charter school, may apply for a grant or matching grant through the school district in which the school is located, and the school district may then apply to the board for the grant or matching grant on behalf of the school. An institute charter school may apply directly to the board.
(2) The board or its designees shall evaluate each application submitted by a school district or an institute charter school based on the factors set forth in this section and such other factors as the board may establish by rule.
(3) Each application for a grant or a matching grant submitted to the board pursuant to this section shall be in a form prescribed by the board and shall include:
(a) A description of the scope and nature of the capital construction project to renovate a facility or provide a temporary auxiliary facility for a full-day kindergarten program;
(b) A description of the architectural, functional, and construction standards that are to be applied to the facility that is the subject of the capital construction project;
(c) The total estimated cost of the capital construction project;
(d) The form and amount of financial effort that will be provided by the school district or the institute charter school for the capital construction project;
(e) A demonstration of the school district's or the institute charter school's ability and willingness to maintain a capital construction project funded pursuant to this part 2; and
(f) Any other information the board may reasonably require for the evaluation of the capital construction project.
(4) The board shall prioritize each application for a grant or a matching grant that describes a capital construction project deemed eligible by the board for a grant or matching grant pursuant to this part 2. The board shall prioritize the applications based on the following criteria, in descending order of importance:
(a) Capital construction projects in school districts or for institute charter schools in accounting districts that have reached ninety percent or more of their limit on bonded indebtedness under section 22-42-104; and
(b) Capital construction projects in school districts or for institute charter schools that have previously demonstrated consistent efforts to allocate moneys to the school districts' or institute charter schools' capital reserve fund.
C.R.S. § 22-43.7-203 Full-day kindergarten facility capital construction projects - prioritization
22-43.7-203. Full-day kindergarten facility capital construction projects - prioritization. (1) From the applications submitted for grants or matching grants pursuant to section 22-43.7-202, the board shall annually prepare a prioritized list of capital construction projects to provide facilities for full-day kindergarten programs. The board shall then determine the type and amount of the grant or matching grant to be awarded to each eligible capital construction project based on the information provided by the school district or the institute charter school in the application.
(2) The board shall submit to the state board the prioritized list of capital construction projects prepared pursuant to subsection (1) of this section. The prioritized list shall include the board's recommendations as to the amount of financial assistance to be provided to applicants and whether the assistance should be in the form of a grant or a matching grant. The state board may approve, disapprove, or modify the provision of financial assistance to any applicant recommended by the board if the state board finds that the board incorrectly prioritized the capital construction projects pursuant to this part 2. The state board shall specifically explain in writing its reasons for finding that the board incorrectly prioritized any capital construction project pursuant to this part 2.
(3) In prioritizing capital construction projects and awarding grants and matching grants pursuant to this part 2, the board shall attempt to maximize the total number of students statewide who will be able to attend a full day of kindergarten due to the availability of a renovated facility or temporary auxiliary facility for a full-day kindergarten program.
(4) It is the intent of the general assembly that school districts give consideration to the needs of both traditional public schools and charter schools established pursuant to article 30.5 of this title when submitting applications for grants or matching grants pursuant to this section.
(5) It is the intent of the general assembly that a grant or matching grant awarded to a school district or institute charter school pursuant to this part 2 shall not be taken into consideration when the board prioritizes capital construction projects pursuant to part 1 of this article. Nothing in this part 2 shall be construed to limit or otherwise affect the authority of the board to prioritize capital construction projects pursuant to part 1 of this article.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-22.docxFetched: 10/6/2026