HB 1341

HOUSE BILL 26-1341
BY REPRESENTATIVE(S) Johnson, Winter T., Barron, Boesenecker,
Duran, Flanell, McCluskie;
also SENATOR(S) Pelton R., Catlin, Kipp, Simpson, Coleman.
CONCERNING A MODIFICATION TO THE SERVICE PERIOD DURING WHICH THE
        COLORADO  AGRICULTURAL  DEVELOPMENT  AUTHORITY  MAY
        ALLOCATE ITS PORTION OF THE PRIVATE ACTIVITY BOND STA TE
        CEILING ALLOCATION.
Be it enacted by the General Assembly of the State of Colorado:
        SECTION 1. In Colorado Revised Statutes, 24-32-1705, amend (3)
introductory portion, (3)(a), (3)(c), and (4) as follows:
        24-32-1705. Allocations to state issuing authorities.
     (3) Any allocation of the state ceiling made or assigned TO THE
COLORADO AGRICULTURAL DEVELOPMENT AUTHORITY pursuant to this
section shalt IS automatically be relinquished to the statewide balance ON
NOVEMBER 15 OF EACH YEAR AND ANY ALLOCATION OF THE STATE CEILING
MADEORASSIGNEDTOANYOTHERSTATEISSUINGAUTHORITYPURSUANTTO
THIS SECTION IS AUTOMATICALLY RELINQUISHED TO THE STATEWIDE
Capital letters or bold & italic numbers indicate new material added to existing law; dashes
through words or numbers indicate deletions from existing law and such material is not part of
the act.
BALANCE on September 15 of each year, except to the extent that:
       (a)   Bonds ate issued by The COLORADO AGRICULTURAL
DEVELOPMENT AUTHORITY OR ITS ASSIGNEE ISSUES BONDS PRIOR TO
NOVEMBER 15 OF EACH YEAR OR ANY OTHER state issuing authority or its
assigns ASSIGNEE ISSUES BONDS prior to September 15 of each year; or
        (C) The COLORADO AGRICULTURAL DEVELOPMENT AUTHORITY OR
ITS ASSIGNEE, PRIOR TO NOVEMBER 15 OF EACH YEAR, AND ANY OTHER state
issuing authority or its assignee, PRIOR TO SEPTEMBER 15 OF EACH YEAR,
notifies the department, by written notice which THAT contains the
information and attachments set forth in section 24-32-1709, ptiot to
Septembet 15 of each yeat, that the allocation has been made by the state
issuing authority or its assignee to a project which THAT has a carryforward
purpose as such THE project is described in the inducement resolution
attached and that the state issuing authority or its assignee desires to treat
all or a portion of its initial allocation as an allocation to such THE project
for such carryforward purpose.
        (4) If the amount of an allocation of the state ceiling made to a state
issuing authority pursuant to this section is in excess of the amount of bonds
that the state issuing authority or its assignee issued or used for a
carryforward purpose or the amount of qualified mortgage bonds that the
state issuing authority or its assignee elected not to issue pursuant to a
mortgage credit certificate election, the STATE ISSUING AUTHORITY SHALL
RELINQUISH THE excess shall be tclinquished to the statewide balance. THE
COLORADO AGRICULTURAL DEVELOPMENT AUTHORITY SHALL RELINQUISH
THE EXCESS TO THE STATEWIDE BALANCE ON NOVEMBER 15 OF EACH YEAR
AND ANY OTHER STATE ISSUING AUTHORITY SHALL RELINQUISH THE EXCESS
TO THE STATEWIDE BALANCE on September 15 OF each year. Any state
issuing authority may voluntarily relinquish all or any part of its allocation
to the statewide balance at any time by so notifying the department in
writing.
       SECTION 2. Act subject to petition - effective date. This act
takes effect at 12:01 a.m. on the day following the expiration of the
ninety-day period after final adjournment of the general assembly (August
12, 2026, if adjournment sine die is on May 13, 2026); except that, if a
referendum petition is filed pursuant to section 1 (3) of article V of the state
constitution against this act or an item, section, or part of this act within
PAGE 2-HOUSE BILL 26-1341
such period, then the act, item, section, or part will not take effect unless
approved by the people at the general election to be held in November 2026
and, in such case, will take effect on the date of the official declaration of
the vote thereon by the governor.
J u ~  James Rashad Coleman, Sr.
SPEAKER OF THE HOUSE  PRESIDENT OF
OF REPRESENTATIVES  THE SENATE
v~~
Vanessa Reilly  Esther van Mourik
CHIEF CLERK OF THE HOUSE  SECRETARY OF
OF REPRESENTATIVES  THE SENATE
       APPROVED <>n lhv"S"Ja~ ~ 4-th 2.fl2,~ ott  ("2: >~
                          (Date and Time)
                                                            LORADO
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