HB 12-1357 Summary

• Authorizes the Capital Development Committee to decide during the legislative interim how to use unspent proceeds from a 2008 federal mineral lease revenues lease-purchase agreement for higher education capital projects.

• Requires state-supported institutions of higher education to submit certificates of completion for funded projects no later than August 1, 2012, with the State Treasurer and Controller calculating unspent amounts by August 15, 2012.

• Limits the Capital Development Committee's use of unspent funds to capital construction projects or controlled maintenance projects at state-supported institutions of higher education.

• Requires the State Treasurer to transfer no more than $2.1 million from Colorado Northwestern Community College's cash assistance to the Colorado Community College System upon receipt of the Craig Campus academic building certificate of completion.

• Requires the State Treasurer to transfer no more than $1 million to the Auraria Higher Education Center upon receipt of the science building addition and renovation certificate of completion.