2023 Colorado Revised Statutes › Title 24 - GOVERNMENT - STATE (§§ 24-1-101 — 24-116-102) › PRINCIPAL DEPARTMENTS (§§ 24-30-101 — 24-36-306) › Article 32 - DEPARTMENT OF LOCAL AFFAIRS (§§ 24-32-101 — 24-32-3711) › Part 37 - [Multiple Versions] PROGRAMS FOR THE DEVELOPMENT OF CHILD CARE FACILITIES (§§ 24-32-3701 — 24-32-3705) › Section 24-32-3705 - [Multiple Versions] [Effective 8/7/2024] Child care facility development cash fund - definition - repeal

(1)
(a)
The child care facility development cash fund is created in the state treasury. The fund consists of money credited to the fund pursuant to subsection (3) of this section, gifts, grants, or donations received by the division pursuant to subsection (4) of this section, and any other money that the general assembly may appropriate or transfer to the fund.
(b)
The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund.
(c)
Subject to annual appropriation by the general assembly, the division may expend money from the fund for the purposes set forth in subsection (2) of this section.
(2)
(a)
(I)
Subject to the provisions set forth in subsections (2)(a)(II), (2)(b), and (4) of this section, the division shall use money in the fund to make grants pursuant to the child care facility development planning grant program and the child care facility development capital grant program and to implement and administer the grant programs and the child care facility development toolkit and technical assistance program.
(II)
Until June 30, 2025, the division shall prioritize money in the fund first to implement the child care facility development toolkit and technical assistance program.
(b)
(I)
The division may expend up to seventy thousand dollars of the money appropriated or transferred to the fund to pay for the direct and indirect costs in administering the programs. All administrative costs must be paid out of the money transferred to the fund pursuant to subsection (3) of this section; except that administrative costs for the child care facility development capital grant program may also be paid out of the money credited to the fund pursuant to subsection (4) of this section.
(II)
The division shall expend money appropriated or transferred to the fund that it does not expend for direct and indirect costs in administering the programs based on need or demand for each program; except that:
(A)
On or before June 30, 2025, the division shall use money in the fund pursuant to the transfer made pursuant to subsection (3) of this section to make grants under the child care facility development planning grant program and to implement and administer such program and the child care facility development toolkit and technical assistance program;
(B)
On or after July 1, 2025, but before July 1, 2028, the division shall use money in the fund pursuant to the transfer made pursuant to subsection (3) of this section to make grants pursuant to the grant programs and to implement and administer the grant programs and the child care facility development toolkit and technical assistance Program; and
(C)
On or after July 1, 2028, but before July 1, 2029, the division shall use money in the fund pursuant to the transfer made pursuant to subsection (3) of this section to make grants pursuant to the child care facility development capital grant program.
(3)
On August 15, 2024, the state treasurer shall transfer two hundred fifty thousand dollars from the general fund to the fund.
(4)
The division may seek, accept, and expend gifts, grants, or donations from private or public sources for the purposes of implementing and administering the child care facility development capital grant program and to make grants under such program. The division shall transmit all money received through gifts, grants, or donations to the state treasurer, who shall credit the money to the fund.
(5)
The state treasurer shall transfer all unexpended and unencumbered money in the fund on June 30, 2029, to the general fund.
(6)
As used in this section, unless the context otherwise requires:
(a)
"Child care facility development capital grant program" means the child care facility development capital grant program created in section 24-32-3704 (2)(a).
(b)
"Child care facility development planning grant program" means the child care facility development planning grant program created in section 24-32-3703 (2)(a).
(c)
"Child care facility development toolkit and technical assistance Program" means the child care facility development toolkit and technical assistance program created in section 24-32-3702 (2).
(d)
"Grant programs" means the child care facility development capital grant program and the child care facility development planning grant program.
(e)
"programs" means the child care facility development capital grant program, the child care facility development planning grant program, and the child care facility development toolkit and technical assistance program.
(7)
This section is repealed, effective July 1, 2029.
Added by 2024 Ch. 279,§ 3, eff. 8/7/2024.
This section is set out more than once due to postponed, multiple, or conflicting amendments.