HB 14-1345 Summary

• Amends Colorado Revised Statutes 23-18-202 to grant the Department of Higher Education authority to transfer funds between college opportunity stipend spending and fee-for-service contract appropriations based on student enrollment changes.

• Allows the Department to transfer up to three percent of the sum of annual cash spending authority authorized for a governing board between stipend expenditures for eligible undergraduate students and fee-for-service contracts.

• Enables fund transfers in both directions to address situations where there are either excess funds remaining in the college opportunity fund or insufficient funds after the final census date of each academic term.

• Applies to fee-for-service contracts entered into pursuant to sections 23-1-109.7 and 23-5-130 of Colorado law.

• Includes a safety clause declaring the act necessary for immediate preservation of public peace, health, and safety; signed into law by Governor John W. Hickenlooper.