CO SB215

Creates the "Infrastructure Investment and Jobs Act" cash fund in the state treasury to provide nonfederal matching funds for infrastructure projects eligible for federal funding under the federal Infrastructure Investment and Jobs Act (Public Law 117-58).

Appropriates $80.25 million from the general fund to the cash fund, with an initial $60 million appropriated for fiscal year 2021-22 and unexpended amounts carried forward through fiscal year 2026-27.

Allocates fund disbursements as follows: 35% for transportation programs, 25% for water/environmental/resiliency programs, 25% for power/grid/broadband programs, 10% for local match support, and 5% for grant writing and administrative support.

Requires the Office of the Governor to develop an application process for departments to request matching funds, with gubernatorial approval required for all expenditures, and mandates annual reporting to legislative committees on awards, federal funding received, and expenditures.

Expires July 1, 2028, at which time all unexpended fund money reverts to the general fund.