City and County of Denver - File #: 23-0420

• File #: 23-0420
• Version: 1
• Type: Bill
• Status: Passed
• File created: 4/10/2023
• In control: Finance & Governance Committee
• On agenda: 5/1/2023
• Final action: 5/9/2023
• Title: A bill for an ordinance establishing a new Fund in the General Government Special Revenue Fund Series for the "Climate Federal Revenue" program. Establishes the Climate Federal Revenue Special Revenue Fund (11889) in General Government Special Revenue Fund Series. The Committee approved filing this item at its meeting on 4-18-2023.
• Indexes: Lucas Palmisano

Date	Ver.	Action By	Action	Result
5/9/2023	1	Mayor	signed
5/8/2023	1	Council President	signed
5/8/2023	1	City Council	placed upon final consideration and do pass	Pass
5/1/2023	1	City Council	ordered published
4/18/2023	1	Finance & Governance Committee	approved by consent	Pass

Finance Item/Grant Request Template

Date Submitted: 4-17-2023

Requesting Agency: Finance
Division:

Subject Matter Expert Name: Eric Scott / Jonathan Rogers
Email Address: eric.scott@denvergov.org / 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 General Government Special Revenue Fund Series for the "Climate Federal Revenue" program.
Establishes the Climate Federal Revenue Special Revenue Fund (11889) in General Government Special Revenue Fund Series. The Committee approved filing this item at its meeting on 4-18-2023.
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.

Federal Government. This bill request establishes the "Climate Special Revenue Program Fund", Fund number 11889 to administer non- Prior to the Inflation Reduction Act of 2022 (IRA), Public Sector and non-profit organizations were excluded from the ability to directly monetize clean energy investment tax credits. The Federal legislation updates ? 6417 of the Internal Revenue Code to allow applicable entities, including the City and County of Denver, to elect to receive certain tax credits, including but not limited to the clean electricity investment credit determined under ? 48E as a "direct payment". Denver's Office of Climate Action, Sustainability, and Resiliency is actively implementing, or in the planni...