1. (1) The clean air building investments fund, referred to in this section as the fund, is created in the state treasury. The principal of the fund consists of money transferred to the fund from the general fund and gifts, grants, and donations.

2. (2) All money in the fund is continuously appropriated to the Colorado energy office. The Colorado energy office may expend money from the fund for the creation, implementation, and administration of:

   1. (a) The building electrification for public buildings grant program created in section 24-38.5-404; and
   2. (b) The high-efficiency electric heating and appliances grant program created in section 24-38.5-405.

3. (3)

   1. (a) On June 2, 2022, or as soon as possible thereafter, the state treasurer shall transfer twenty million eight hundred fifty thousand dollars from the general fund to the fund.
   2. (b) The Colorado energy office shall use ten million dollars of the money transferred pursuant to this subsection (3) for the creation, implementation, and administration of the building electrification for public buildings grant program created in section 24-38.5-404.
   3. (c) The Colorado energy office shall use ten million eight hundred fifty thousand dollars of the money transferred pursuant to this subsection (3) for the creation, implementation, and administration of the high-efficiency electric heating and appliances grant program created in section 24-38.5-405.

4. (4)

   1. (a) 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. (b) For state fiscal years commencing on or 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. (c)

      1. (I) On June 30, 2025, the state treasurer shall transfer five hundred seventy-two thousand two hundred fifty-five dollars from the fund to the general fund.
      2. (II) This subsection (4)(c) is repealed, effective July 1, 2026.

Source: L. 2022: Entire part added, (HB 22-1362), ch. 301, p. 2178, § 1, effective June 2. L. 2025: (1) amended and (4) added, (SB 25-317), ch. 385, p. 2151, § 24, effective June 3.

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