CO SB230

The state treasurer shall transfer $40 million from the general fund to the energy fund within three days of the bill's effective date.

Grant funding allocations include up to $30 million to the Colorado Clean Energy Fund, up to $3 million to the Colorado New Energy Improvement District, up to $2 million for the Residential Energy Upgrade Loan Program, and up to $5 million for the Charge Ahead Colorado Program.

The Colorado Energy Office must use or obligate at least 75% of the transferred funds by July 1, 2022, and at least 85% by July 1, 2023.

The Colorado Energy Office shall provide annual reports beginning January 15, 2022, documenting grant money use, including amounts, dates, contractor names, and administrative costs to the Office of State Planning and Budgeting, relevant legislative committees, and the general assembly.

Any unused funds remaining on June 30, 2025, shall be transferred back to the general fund, and the entire subsection expires July 1, 2025.