HB 1360 CO
Affordable Housing Financing Fund
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Summary
This bill directs the Colorado state treasurer to transfer $130 million from the state affordable housing fund to the general fund on June 30, 2026, and makes corresponding adjustments to the affordable housing financing fund. The July 1, 2026 transfer from the state affordable housing fund to the financing fund is reduced by the amount of the $130 million transfer. For fiscal year 2026-27 only, the bill adjusts the prioritization of programs funded by the financing fund to fund in order: the concessionary debt program, the affordable housing equity program, and the land banking program. The bill ensures the transfer does not reduce administrative expenses for the financing fund in 2026-27 and directs that administrative costs be pooled between the administrator and the office of economic development for fiscal years beginning with 2026-27. The bill also allows the General Assembly to reduce financing fund allocations in 2025-26 if revenue forecasts show state revenue will not exceed spending limits.
AI-generated plain-language summary of the bill (from the OpenStates abstract — no full text available yet) — neutral, and may be imperfect.
Official abstract
The act directs the state treasurer to transfer $130 million from the state affordable housing fund (fund) to the general fund on June 30, 2026, and makes 3 corresponding adjustments to the affordable housing financing fund (financing fund). First, the act reduces the July 1, 2026, transfer from the fund to the financing fund by the amount of the June 30, 2026, transfer from the state affordable housing fund. Second, for the 2026-27 state fiscal year only, the act adjusts the prioritization of programs funded by the financing fund so that the programs are funded in the following order: The concessionary debt program, the affordable housing equity program, and the land banking program. Third, the act ensures that this transfer does not reduce the amount that may be spent on administrative expenses to implement programs funded by the financing fund in the 2026-27 state fiscal year and pools the costs of administering these programs between the administrator and the office of economic development for state fiscal years beginning with the 2026-27 state fiscal year. Under current law, if legislative council staff's March economic and revenue forecast projects that state revenue will not exceed the state fiscal year spending limit, the general assembly may reduce the funding allocated to the financing fund. The act allows for the general assembly to so reduce the funding allocated to the financing fund for the 2025-26 state fiscal year as a result of revenue forecasts projecting that state revenue will not exceed the state fiscal year spending limit.(Note: This summary applies to this bill as enacted.)
Sponsors (6)
- K. Brown Democratic · sponsor
- R. Taggart Republican · sponsor
- J. Bridges Democratic · sponsor
- B. Kirkmeyer Republican · sponsor
- E. Sirota Democratic · sponsor
- J. Amabile Democratic · sponsor
Action history (15)
- May 28, 2026 Governor Signed · executive
- May 26, 2026 Sent to the Governor · executive
- May 26, 2026 Signed by the President of the Senate · upper
- May 26, 2026 Signed by the Speaker of the House · lower
- Apr 16, 2026 Senate Third Reading Reconsidered - No Amendments · upper
- Apr 16, 2026 Senate Third Reading Passed - No Amendments · upper
- Apr 15, 2026 Senate Second Reading Special Order - Passed - No Amendments · upper
- Apr 14, 2026 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole · upper
- Apr 13, 2026 Introduced In Senate - Assigned to Appropriations · upper
- Apr 11, 2026 House Third Reading Passed - No Amendments · lower
- Apr 10, 2026 House Third Reading Laid Over Daily - No Amendments · lower
- Apr 9, 2026 House Second Reading Special Order - Passed - No Amendments · lower
- Apr 8, 2026 House Second Reading Special Order - Laid Over Daily - No Amendments · lower
- Apr 7, 2026 House Committee on Appropriations Refer Unamended to House Committee of the Whole · lower
- Apr 2, 2026 Introduced In House - Assigned to Appropriations · lower
Full text
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