HB 22-1394: Just Transition Funding Summary

• State treasurer transfers $5 million from general fund to just transition cash fund on July 1, 2022, in addition to previously appropriated funds, to support coal transition communities and workers.

• The just transition office must use transferred funds to implement Colorado's final just transition plan and provide supplemental funding for targeted economic development, regional coordination, infrastructure projects, and workforce development, with emphasis on tier one transition communities.

• The $5 million transfer must be expended by fiscal year 2025-26 and is restricted to expansion assistance for existing local businesses, expanding private financial investment, and site selector and technical assistance.

• State treasurer transfers $10 million to the coal transition workforce assistance program account on July 1, 2022, to fund tuition assistance, apprenticeships, expanded child care, career planning, financial counseling, and housing assistance for coal workers and their families by fiscal year 2026-27.

• Director must annually report to joint budget committee on fund expenditures and program allocations; report requirement of recommendations to legislature is repealed effective September 1, 2025.