1. (1) The state agency sustainability revolving fund, referred to in this section as the fund, is created in the state treasury. The fund consists of money that the general assembly may appropriate or transfer to the fund and any gifts, grants, or donations that the department credits to the fund pursuant to subsection (5) of this section.
2. (2) The office shall allocate the money in the fund to assist in replacing the state's gas and diesel-powered equipment that is located in ozone nonattainment areas as designated by the U.S. environmental protection agency with equivalent electric equipment, and to operate the office in accordance with this part 23.

3. (3)

   1. (a) Any unexpended and unencumbered money remaining in the fund at the end of a fiscal year shall remain in the fund.

   2. (b)

      1. (I) For state fiscal years commencing on or before July 1, 2024, the state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund.
      2. (II) Notwithstanding subsection (3)(a) of this section, for state fiscal years commencing on and after July 1, 2025, in accordance with section 24-36-114 (1), the state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the general fund.

      3. (III)

         1. (A) On June 30, 2025, the state treasurer shall transfer six thousand two hundred fourteen dollars from the fund to the general fund.
         2. (B) This subsection (3)(b)(III) is repealed, effective July 1, 2026.
4. (4) Subject to annual appropriation by the general assembly, the department may expend money from the fund to be used for the purposes specified in subsection (2) of this section.
5. (5) The department may solicit, accept, and expend gifts, grants, and donations for the purposes of this part 23. The department shall credit any gifts, grants, and donations to the fund.

Source: L. 2024: Entire part added, (SB 24-214), ch. 191, p. 1087, § 1, effective May 17. L. 2025: (1) and (2) amended, (SB 25-249), ch. 124, p. 490, § 1, effective April 25; (3) amended, (SB 25-317), ch. 385, p. 2143, § 9, effective June 3; (4) amended, (SB 25-265), ch. 130, p. 512, § 6, effective July 1.

Cross references: For the legislative declaration in SB 25-317, see section 1 of chapter 385, Session Laws of Colorado 2025.