4.17. — Senate Bill 267 Technical Plan Executive Summary

In 2017, the Colorado General Assembly enacted Senate Bill 17-267 (SB-267), “Concerning the Sustainability of Rural Colorado.” SB-267 authorizes the State of Colorado to execute lease-purchase agreements on state facilities totaling up to $2.0 billion to be issued in equal amounts over four years beginning in fiscal year 2018-19. CDOT is the recipient of up to $1.88 billion of the proceeds. The projects funded from SB-267 have the following conditions:

• The projects must be qualified federal aid highway projects that are included in Tier 1 of CDOT’s Ten-Year Development Program. Of this, 25 percent is reserved for projects that are located in rural counties (fewer than 50,000 residents).
• No more than 90 percent of the proceeds shall be expended for highway purposes or capital improvements, and at least 10 percent of the proceeds shall be expended for transit purposes or for transit-related capital improvements.

In 2018, the Colorado General Assembly enacted Senate Bill 18-001 (SB-1). SB-1 commits state General Fund revenue for transportation projects. SB-1 funds priority projects as determined through the established state-wide planning process and approved by the Transportation Commission (TC). For fiscal years 2018-19 and 2019-20, SB-1 required fixed transfers from the general fund to the State Highway Fund (SHF), Highways Users Tax Fund (HUTF), and a newly created Multimodal Options Fund (MMOF).   

Senate Bill 1 transfers are divided 70 percent to the State Highway Fund, 15 percent to counties and cities (HUTF) and 15 percent to the MMOF. The MMOF is administered through CDOT, which distributes 85 percent to local governments and the remaining 15 percent to CDOT. The MMOF may be used for transit projects, operating expenses, or studies.