CO SB020

Amends Colorado Revised Statutes section 24-30-1310 to clarify calculations for the automatic funding mechanism that sets aside money for future costs of state capital assets.

Defines "annual depreciation-lease equivalent payment" as the recorded depreciation of capital assets acquired or constructed with appropriations from the general fund, capital construction fund, or controlled maintenance trust fund, calculated from the date of acquisition or completion to June 30 of the fiscal year.

Requires state agencies and higher education institutions to annually calculate depreciation amounts and report calculations to the Department of Higher Education for capital assets funded through general fund, capital construction fund, or controlled maintenance trust fund sources.

Specifies that depreciation calculations continue on a fiscal year basis until the depreciation for the capital asset is no longer recorded, and clarifies that one percent of project costs is deducted and credited to the controlled maintenance trust fund principal.

Applies to capital construction appropriations beginning with the 2015-16 annual general appropriation act and all subsequent annual appropriations, excluding information technology projects.