CO SB251

Excludes rental and other payments under lease-purchase agreements for real property from the calculation basis for the general fund reserve.

Applies only to lease-purchase agreements authorized by the General Assembly pursuant to section 24-82-801(1)(a) and included as a separate line item in the operating section of annual or supplemental appropriation acts.

Amends Colorado Revised Statutes section 24-75-201.1(2) to add this exclusion to existing exceptions for general fund reserve calculations.

Takes effect at 12:01 a.m. on August 5, 2015, or 90 days after final adjournment of the General Assembly, unless subject to a referendum petition.

If a referendum petition is filed, the act will not take effect unless approved by voters at the November 2016 general election.