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Senate adopts conference report on marijuana entrepreneur fund after close floor fight over general-fund transfers
Summary
The Senate narrowly adopted the first conference committee report and then repassed House Bill 12-09, authorizing two $300,000 general-fund transfers to the marijuana entrepreneur fund. Supporters said the funding supports social-equity entrepreneurs; opponents said general-fund transfers set a bad precedent given budget pressures.
The Colorado Senate adopted the first conference committee report on House Bill 12-09 and then repassed the bill after extended floor debate about funding the marijuana entrepreneur fund.
The conference report requires the state treasurer to transfer $300,000 from the general fund to the marijuana entrepreneur fund on July 1, 2025, and again on July 1, 2026. Supporters argued the funding preserves a program that provides support to social-equity cannabis entrepreneurs; opponents and several budget-panel senators said the transfers should not be carried with general fund dollars when the marijuana tax cash fund and other priorities face reductions.
On the floor, Senator Simpson said she had been the only no vote on the conference committee earlier and explained her position as concern that the appropriation uses general funds for a program originally supported with marijuana-related cash funds. Senator Amabile said she had supported funding the cannabis business office in a previous committee but accepted the Joint Budget Committee's decision not to fund it and planned to vote no on this conference report. Senator Bridges asked whether the transfers cover one or two years; the sponsor confirmed the transfers are for both FY2026 and FY2027.
Senator Bridal, a member of the Joint Budget Committee, urged colleagues to note that the legislative set-aside could cover the transfers this year but warned that the appropriation might be removed next year given looming budget constraints. Multiple senators criticized using general fund dollars to replace cash-funded priorities and said doing so would make balancing next year's budget harder. The floor recorded a close concurrence vote on the conference report and a final repassage with 18 ayes and 16 noes, with one excused.
Why it matters: the vote directs general-fund money to an entrepreneurship program tied to the regulated cannabis industry and highlights tension between supporting targeted economic-development programs and managing a multi-year state budget shortfall.
What happens next: with the Senate’s repassage, the bill moves forward in the legislative process; senators and sponsors said they expect continued budget scrutiny and possible adjustments in the next fiscal session.
