Bill > SB068

This bill modifies Colorado's existing statutes regarding unclaimed utility deposits by specifically addressing municipally owned utilities' participation in the unclaimed utility deposits program. The bill amends previous definitions of electric and gas utilities to explicitly exclude municipally owned utilities from the standard regulations. However, it provides a new optional provision allowing municipally owned utilities to voluntarily participate in the unclaimed deposits program. Under the new language, a municipally owned utility can choose to pay unclaimed deposits either into the state commission's designated fund or into a fund established by its own governing body, provided that the utility defines unclaimed deposits consistently with the state's definition of "unclaimed moneys." The bill maintains the existing framework for electric and gas utilities while creating a flexible opt-in approach for municipal utilities, effectively giving these local utilities more discretion in managing unclaimed customer deposits. The legislation will take effect after the standard ninety-day period following the general assembly's final adjournment, with a potential referendum process that could delay implementation until a November 2026 election if challenged.

Agriculture and Natural Resources, Transportation and Infrastructure

https://leg.colorado.gov/bills/sb25-068