CO SB138

Requires insurance companies with more than $100 million in assets and the Public Employees' Retirement Association (PERA) to annually report climate-risk assessments of their investment portfolios beginning in 2023 and 2024 respectively.

Updates Colorado's statewide greenhouse gas emission reduction goals to include 40% reduction by 2028 and 75% reduction by 2040 (compared to 2005 baseline levels).

Establishes a 30% state income tax credit for purchases of new electric-powered small off-road equipment (lawn mowers, leaf blowers, trimmers) for tax years 2023-2029, with sales banned in nonattainment areas after January 1, 2030.

Authorizes the oil and gas conservation commission to issue and enforce permits for Class VI injection wells used for greenhouse gas sequestration.

Requires the agriculture commissioner to conduct a study on carbon reduction and sequestration opportunities in agriculture and land management, with a report due October 1, 2024, and authorizes grants for agrivoltaics research (solar generation colocated with farming).