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Committee votes 6‑0 to introduce Proposition 123 bill making portions of housing funds subject to appropriation
Summary
The committee approved introduction of a bill (LOS 25‑9‑11) to clarify maintenance‑of‑effort rules for Proposition 123, make certain administrative and state‑facility uses subject to appropriation beginning fiscal 2026‑27, and preserve flexibility over allocations; motion passed 6‑0 and sponsors were named.
The Joint Budget Committee voted to introduce a bill (LOS 25‑9‑11) that would clarify how Proposition 123 funds are treated, make certain uses subject to appropriation, and set a 5 percent administrative allowance.
Ms. Bickel presented the draft and reminded the committee that Proposition 123 currently yields roughly $130 million to $140 million a year, of which 60 percent is routed through the governor’s office to the Colorado Housing and Finance Authority (CHFA). The draft bill makes a portion of the Department of Local Affairs (DOLA)…
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