C.R.S. Section 23-3.3-1005
Colorado opportunity scholarship initiative fund

  • created
  • rules
  • repeal

(1)

There is created in the state treasury the Colorado opportunity scholarship initiative fund, which consists of:

(a)

Any moneys appropriated to the fund by the general assembly;

(b)

Any moneys transferred to the fund from any other fund; and

(c)

Any moneys received by the department as gifts, grants, or donations pursuant to subsection (3) of this section.

(2)

The moneys in the fund are continuously appropriated to the department for the purposes described in this part 10. All interest derived from the deposit and investment of moneys in the fund must remain in the fund. Any unexpended or unencumbered moneys remaining in the fund at the end of a fiscal year must remain in the fund and not be transferred or credited to the general fund or another fund.

(3)

The department is authorized to accept any gifts, grants, or donations from any private or public source on behalf of the state for the purposes described in this part 10. The department shall transmit all such gifts, grants, and donations to the state treasurer, who shall credit the same to the fund.

(4)

The department is authorized to spend from the fund an amount of money equal to not more than seven and one-half percent of the total expenditures from the fund for the prior fiscal year to pay the direct and indirect costs of administering the initiative in any fiscal year; except that the general assembly may authorize additional spending for administrative costs in any fiscal year through a footnote in the annual general appropriation act.

(5)

The board may promulgate rules for the administration of the fund.

(6)

Intentionally left blank —Ed.

(a)

For the 2021-22 state fiscal year, the general assembly shall appropriate money from the workers, employers, and workforce centers cash fund, created in section 24-75-231, to the fund for the purposes described in section 23-3.3-1006. In addition to the amounts described in subsections (4) and (7) of this section, the department is authorized to spend up to five percent of the appropriated amount to pay the direct and indirect costs of administering the distribution of the amount described in this subsection (6) as provided in section 23-3.3-1006.

(b)

This subsection (6) is repealed, effective July 1, 2026.

(7)

Intentionally left blank —Ed.

(a)

For the 2021-22 state fiscal year, the general assembly shall appropriate from the workers, employers, and workforce centers cash fund, created in section 24-75-231, to the fund one million five hundred thousand dollars for the purposes described in section 23-3.3-1007. In addition to the amounts described in subsections (4) and (6) of this section, the department is authorized to spend from the appropriated amount up to one hundred thousand dollars annually for the costs incurred in implementing section 23-3.3-1007, which costs may include providing technical assistance, collecting and sharing best practices, and providing an evaluation of the student aid applications completion grant program in the annual report prepared pursuant to section 23-3.3-1004 (4)(c).

(b)

This subsection (7) is repealed, effective July 1, 2026.

(8)

Intentionally left blank —Ed.

(a)

Notwithstanding subsection (2) of this section, the state treasurer shall credit all interest and income derived from the deposit and investment of money appropriated to the fund pursuant to subsections (6)(a) and (7)(a) of this section to the state emergency reserve cash fund created in section 24-77-104 (6)(a) in accordance with section 24-75-226 (4)(c)(II).

(b)

This subsection (8) is repealed, effective July 1, 2026.

Source: Section 23-3.3-1005 — Colorado opportunity scholarship initiative fund - created - rules - repeal, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-23.­pdf (accessed Oct. 20, 2023).

23‑3.3‑101
Definitions 23‑3.3‑102
Assistance program authorized - procedure - audits 23‑3.3‑103
Annual appropriations - repeal 23‑3.3‑104
Assistance to professional theology students prohibited 23‑3.3‑106
Technology to support FAFSA and CASFA - definitions 23‑3.3‑107
Improvements to CASFA - definitions - repeal 23‑3.3‑201
Definitions 23‑3.3‑202
Program funding 23‑3.3‑204
Dependents of prisoners of war and military personnel missing in action 23‑3.3‑205
Dependents of deceased or permanently disabled National Guardsman, law enforcement officer, or firefighter 23‑3.3‑301
Student loan matching program - funding 23‑3.3‑401
Work-study program established - requirements 23‑3.3‑501
Scholarship and grant program - funding 23‑3.3‑600.1
Short title 23‑3.3‑601
Educational exchange program 23‑3.3‑701
Colorado nursing scholarship program 23‑3.3‑901
Teach Colorado grant initiative created - award of grants - legislative declaration 23‑3.3‑1001
Legislative declaration - repeal 23‑3.3‑1002
Definitions 23‑3.3‑1003
Colorado opportunity scholarship initiative - created 23‑3.3‑1004
Colorado opportunity scholarship initiative advisory board - created - duties - rules - repeal 23‑3.3‑1005
Colorado opportunity scholarship initiative fund - created - rules - repeal 23‑3.3‑1006
Colorado opportunity scholarship initiative - federal money - institutional allocations - purposes - reporting - rules - definitions - repeal 23‑3.3‑1007
Student aid applications completion grant program - created - applications - rules - definitions - repeal 23‑3.3‑1008
Displaced workers grant - repeal 23‑3.3‑1009
Support for in-demand short-term health-care credentials - report - definitions - repeal 23‑3.3‑1010
Youth mentorship assistance grant pilot program - creation - policies - reports - definitions - repeal 23‑3.3‑1101
Career and technical education certificate programs - tuition assistance - funding - definitions 23‑3.3‑1301
Legislative declaration 23‑3.3‑1302
Definitions 23‑3.3‑1303
Fourth-year innovation pilot program - creation - eligibility - award of state funding - commission policies 23‑3.3‑1304
Receipt and use of state funding 23‑3.3‑1305
Reporting requirements 23‑3.3‑1306
Fourth-year innovation pilot program fund - creation - reversion 23‑3.3‑1307
Repeal of part 23‑3.3‑1401
Financial aid for students who have been in out-of-home placement - institution liaisons - navigators - definitions
Green check means up to date. Up to date

Current through Fall 2024

§ 23-3.3-1005’s source at colorado​.gov