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File #: 23-1138    Version: 1
Type: Bill Status: Passed
File created: 8/20/2023 In control: Finance & Governance Committee
On agenda: 9/11/2023 Final action: 9/22/2023
Title: A bill for an ordinance establishing a new Fund in the Capital Improvements and Capital Maintenance Fund Series for the "Climate State Capital Projects" program. Establishes a new fund, the Climate State Capital Projects Fund (34806), in the Capital Improvements and Capital Maintenance Fund Series. The Committee approved filing this item at its meeting on 8-29-2023.
Indexes: Lucas Palmisano
Attachments: 1. BR23-1138_DOF_CASR_Establish Climate State Fund - Capital, 2. CB23-1138_ DOF_New_Climate State Capital Fund, 3. 23-1138 Filed Bill_ DOF_New_Climate State Capital Fund, 4. 23-1138_signed, 5. 23-1138 For an ordinance establishing a new Fund in the Capital Improvements and Capital

Finance Item/Grant Request Template

 

Date Submitted: 8-28-2023

 

Requesting Agency: Department of Finance

                               Division:

 

Subject Matter Expert Name: Lamar Garlington & Jonathan Rogers
Email Address:
lamar.garlington@denvergov.org <mailto:lamar.garlington@denvergov.org>    Jonathan.rogers@denvergov.org <mailto:Jonathan.rogers@denvergov.org>
Phone Number:

 

Item Title & Description:

(Do not delete the following instructions)

These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney’s Office should enter the title above the description (the title should be in bold font).

 

Both the title and description must be entered between the red “title” and “body” below.  Do not at any time delete the red “title” or “body” markers from this template.

title

A bill for an ordinance establishing a new Fund in the Capital Improvements and Capital Maintenance Fund Series for the “Climate State Capital Projects” program.

Establishes a new fund, the Climate State Capital Projects Fund (34806), in the Capital Improvements and Capital Maintenance Fund Series. The Committee approved filing this item at its meeting on 8-29-2023.

body

 

Affected Council District(s) or citywide?

Citywide

 

Executive Summary with Rationale and Impact:

Detailed description of the item and why we are doing it. This can be a separate attachment.

Colorado House Bill 22-1026 creates a tax refund mechanism (“Clean Commute” tax credit) of $250,000 yearly in 2023 and 2024 for Colorado employers to invest in alternative commute options for their workforce. The bill amends C.R.S. 39-22-509 to allow for a local government or nonprofit organization to file a corporate income tax return for information purposes to enable that entity to claim the credits allowed. Denver’s Office of Climate Action, Sustainability, and Resiliency invests in programs and services that provide affordable, clean, safe and reliable transportation choices that are eligible for the Clean Commute tax credit.

 

This bill request establishes the “Climate State Capital Projects Program Fund”, fund number 34806, a Capital Projects Fund for the purpose of administering revenues reinvested in sustainable transportation, building electrification, energy efficiency, solar, battery storage, and electric vehicle charging infrastructure. Revenue to this fund will be transfers from the Climate State Revenue Special Revenue Fund (11890), and a separate, companion ordinance request has been submitted to create that SRF. 

 

 

Type (choose one: Grant; Supplemental; Fund Creation; Fund Rescission; Fund Transfer; Appropriation; Other):

 

Amount:

 

Budget Year:

 

Fund and Funding Source (Fund/Org/Grant Number, if applicable):

 

Grantor (if applicable):

 

Fund Matching Requirements (if applicable):

 

Fiscal Impact: