HB 22-1400 Summary

• Allows institutions of higher education and auxiliary facilities designated as enterprises as of January 1, 2021, to requalify and be redesignated as enterprises without voter approval if they subsequently lose enterprise status.

• Applies to single institutions, groups of institutions managed by a single governing board, individual auxiliary facilities, or groups of similar auxiliary facilities managed by higher education governing bodies or the Auraria Higher Education Center.

• Modifies voter approval requirements for new state enterprises created after January 1, 2021, limiting them to $100 million in total fee and surcharge revenue during their first five fiscal years unless approved by statewide general election.

• Requires new enterprises that collect $100 million in fees and surcharges within the first five fiscal years to stop collecting such revenues until voter approval is obtained.

• Defines enterprises as serving the same purpose when they provide identical services in the same geographic area, and clarifies the five-year calculation period begins from the enterprise's creation or first qualification date.