CO SB031

Exempts prescription drug products containing Schedule I controlled substances from Colorado's Schedule I classification if the product is FDA-approved for prescription use and has been designated or rescheduled by the DEA to a schedule other than Schedule I

Requires Colorado to control such prescription drug products in the same manner as the federal DEA controls them under 21 U.S.C. sec. 812 and 21 CFR Part 1308

Makes any DEA designation or rescheduling of these prescription drug products automatically and immediately effective in Colorado upon the federal effective date

Enables Colorado healthcare professionals to prescribe FDA-approved medications that contain substances otherwise classified as Schedule I at the state level

Takes effect August 12, 2026, assuming adjournment on May 13, 2026, unless a referendum petition is filed