Senate Bill 10-202 Summary

• Expands Colorado's college savings program (administered by CollegeInvest) to allow working adults to open accounts for their own postsecondary education and job retraining goals, not just for dependents.

• Authorizes employers to make matching contributions to adult learner accounts, with employer contributions deductible from Colorado state taxable income if included in federal taxable income.

• Requires CollegeInvest to develop and implement promotion plans for adult learners and coordinate with the Department of Labor and Employment to make information about accounts available to potential participants.

• Establishes a Job Retraining Cash Fund consisting of proceeds from the sale of loan assets and private donations, with $100,000 transferred by September 30, 2010, and $66,000 transferred to the General Fund in installments through 2012 to offset implementation costs.

• Effective upon passage, with conditional provisions tied to House Bill 10-1428 regarding the Job Retraining Cash Fund structure.