SB22-025 Summary

• Authorizes the State Treasurer to conduct a feasibility study on using security token offerings (blockchain-based digital contracts) for state capital financing, with study completion and reporting required by March 1, 2023.

• Allows the State Treasurer to recommend to the General Assembly that legislation be enacted to authorize security token offerings for capital financing if the study determines such use would be in the state's best interest.

• Appropriates $100,000 to the Department of Treasury ($70,000 for operating expenses and $30,000 for legal services) and $30,000 to the Department of Law for implementing the bill.

• Expands the definition of "eligible state facility" to include all state-owned assets and land, not just buildings and structures, for purposes of capital financing arrangements.

• Establishes legislative findings that security token offerings could reduce capital financing costs by broadening investor access and reducing reliance on commercial banks and institutional investors, and allow ordinary Coloradans to share ownership of leased state capital assets.