§ 2-2-2308 — Gifts, grants, and donations - cash fund

(1) The commission may
seek, accept, and expend gifts, grants, or donations from private or public sources
for the purposes of this section. The commission shall transmit all money received
through gifts, grants, or donations to the state treasurer, who shall credit the
money to the Black Coloradan racial equity study cash fund created in this section.

(2) The commission may accept donations of in-kind services for the
purposes of this section, including for technical assistance.

(3) (a) The Black Coloradan racial equity study cash fund is created in the
state treasury. The fund consists of gifts, grants, and donations credited to the fund
pursuant to subsection (1) of this section and any other money that the general
assembly may appropriate or transfer to the fund. The state treasurer shall credit
all interest and income derived from the deposit and investment of money in the
fund to the fund.

(b) Money in the fund is continuously appropriated as follows:

(I) To the legislative council for the commission to carry out this part 23; and

(II) To the society for conducting historical research pursuant to section 2-2-2305.

(c) (I) If by June 30, 2025, the money in the fund has never reached or
exceeded seven hundred eighty-five thousand dollars, the state treasurer shall
return from the fund to the grantor or donor the amount of the grantor's or donor's
gifts, grants, or donations.

(II) If sections 2-2-2304, 2-2-2305, 2-2-2306, and 2-2-2307 take effect
pursuant to section 2-2-2309 (1), on the day prior to the repeal of the fund four
years later pursuant to section 2-2-2309 (2), the state treasurer shall return from
the fund to each grantor or donor the money remaining in the fund in an amount
that is proportional to the grantor's or donor's share of the total amount of gifts,
grants, or donations deposited to the fund.

(III) If any money remains in the fund after the state treasurer returns money
to donors or grantors pursuant to subsection (3)(c)(I) or (3)(c)(II) of this section, as
applicable, the state treasurer shall, prior to the repeal of the fund, transfer all
unexpended and unencumbered money in the fund to the general fund.

Legislative History

Source: L. 2024: Entire part added, (SB 24-053), ch. 368, p. 2480, � 1, effective August 7.