Bill > SB179

This bill extends the sunset date for the Colorado Fraud Investigators Unit from September 1, 2025, to September 1, 2036, effectively continuing its operations for another decade. The bill removes references to the identity theft and financial fraud board and modifies the unit's operational structure, focusing its purpose on assisting law enforcement in investigating and prosecuting identity theft and financial fraud crimes, as well as serving as an educational resource. The legislation establishes a new Identity Theft and Financial Fraud Fund in the state treasury, which can receive gifts, grants, and donations, and allows the Department of Public Safety to administer and spend money from the fund to staff the unit, subject to annual legislative appropriation. The bill also makes a financial adjustment, decreasing the cash fund appropriation for the complex financial fraud unit by $653,345 and reducing the related full-time equivalent (FTE) positions by 7, while simultaneously providing a new appropriation of the same amount for the unit's continued operation. Additionally, the bill repeals several sections of existing law related to the board and unit's previous organizational structure, streamlining its governance and funding mechanism.

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https://leg.colorado.gov/bills/sb25-179