CO Code § 8-83-504 (2021)
2021 Colorado Code|Title 8 - Labor and Industry|Article 83 - Work Force Development|Part 5 - Just Transition Support for Coal-Related Jobs|§ 8-83-504. Just Transition Cash Fund - Transfer From General Fund

  There is hereby created in the state treasury the just transition cash fund. The fund consists of money credited to the fund in accordance with section 39-29-108 (2)(d) and any other 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 office may expend money from the fund and the department may expend money from the coal transition workforce assistance program account of the fund created in section 8-83-504.5 (1) for purposes specified in this part 5, including paying for the office's direct and indirect costs in administering this part 5.    The general assembly may appropriate money from the general fund for the purposes specified in this part 5. The office may seek, accept, and expend gifts, grants, or donations from private or public sources for the purposes of this part 5.    Each construction project financed through the fund must comply with sections 24-92-115 and 24-92-201.      On June 30, 2021, the state treasurer shall transfer eight million dollars from the general fund to the fund. Subject to annual appropriation by the general assembly, the office shall expend the money transferred to implement the final just transition plan for Colorado prepared as required by section 8-83-503 (4) and to provide supplemental funding for existing state programs that the office identifies as the most effective vehicles for targeted investment in coal transition communities. In providing such supplemental funding, the office shall place a heavy emphasis on investment in tier one transition communities and shall support programs that:   Support targeted economic development;    Assist with regional capacity for coordination of economic development programs and worker assistance programs;    Support infrastructure projects and workforce development programs; or    Are consistent with the goals and strategies outlined in the final just transition plan.       In addition to the requirements set forth in subsection (4)(a) of this section, the office shall expend money transferred to the fund pursuant to subsection (4)(a) of this section in accordance with the following requirements and limitations:   The office shall consult with the just transition advisory committee on expenditure decisions and prioritize the expenditure of the money in a manner consistent with the final just transition plan and the level of support for any given proposed expenditure from coal transition communities and state action teams formed to assist with the development of rural economic diversification and transition roadmaps as set forth in the final just transition plan.    The office may provide for the transfer of money from the fund to other state agencies only if the transfer is approved by the director, the executive director of the department, the executive director of the department of local affairs, and the executive director of the Colorado office of economic development.    The office shall expend at least seventy percent of the money by the close of state fiscal year 2021-22 and shall expend any remaining money by the close of state fiscal year 2022-23.    The department is authorized to use up to five percent of the money to fund operational support for the office's expenditure of the money including funding for the compensation of existing office employees.       Subject to the requirements of this subsection (4) and notwithstanding any other law, the office may expend money from the fund to make grants to any eligible entity, and a state agency to which a transfer of money from the fund is made pursuant to this subsection (4) may expend the money transferred to make grants to any eligible entity.         History. Source: L. 2019: Entire part added,(HB 19-1314), ch. 323, p. 2993, § 1, effective May 28. L. 2021: (1) amended and (4) added,(HB 21-1290), ch. 400, p. 2652, § 2, effective June 30; (1) amended,(HB 21-1312), ch. 299, p. 1798, § 14, effective July 1.    Editor's note:   Amendments to subsection (1) by HB 21-1290 and HB 21-1312 were harmonized.   Cross references:   For the legislative declaration in HB 21-1312, see section 1 of chapter 299, Session Laws of Colorado 2021.