CO HB1245

State Board of Land Commissioners may use up to $1 million per fiscal year from the Investment and Development Fund for asset maintenance, including buildings, agricultural sprinklers, fences, windmills, and water wells.

Current maintenance appropriation of $75,000 is insufficient; actual annual maintenance costs are estimated between $75,000 and $1 million based on acreage and assets.

Investment and Development Fund, created in 2005, was originally designated for development activities that increase value or rate of return on state trust lands.

Board must include information detailing asset maintenance fund usage in required reports to the General Assembly, delivered on or before November 1 each year.

Maintenance of trust lands through the fund is intended to provide additional value-added benefit to support school trust beneficiaries.