HB 24-1154 Summary

• Allows school district boards to voluntarily include institute charter schools located within their geographic boundaries in bond elections for capital construction projects.

• Requires institute charter schools to submit a capital construction plan to the district board that includes project costs, financing sources, timeline, management responsibilities, and reasons why bonded indebtedness is necessary.

• Mandates written agreements between school districts and institute charter schools addressing investment earnings distribution, cost allocation for ballot submissions, debt priority, automatic reversion of assets to the district if the charter school closes or is revoked, and restrictions on additional debt encumbrance.

• Adds institute charter school capital construction as an authorized purpose for school district bonded indebtedness elections under Colorado Revised Statutes.

• Takes effect 90 days after final adjournment of the general assembly, subject to referendum petition provisions.