SB26-088 Funding for Memorials on State Capitol Grounds

Under current law, the department of personnel and a statutorily created preservation trust committee oversee the Colorado veterans' monument preservation trust fund (trust fund). The act moves oversight of the trust fund to the state historical society (history Colorado) and repeals the preservation trust committee. The act also expands the allowable uses of the trust fund, which were previously restricted to maintaining and enhancing the Colorado veterans' monument and any fallen heroes memorials in Lincoln veterans' memorial park, to include the maintenance, enhancement, and repair of monuments and memorials both in Lincoln veterans' memorial park and on the state capitol building grounds. History Colorado may expend principal from the trust fund for these purposes once every 20 years beginning in state fiscal year 2027-28, subject to appropriation by the general assembly, and for unexpected necessary maintenance costs that are not covered by insurance. On or before December 31, 2026, and on or before each December 31 thereafter, history Colorado must submit a report to the state capitol building advisory committee (CBAC) that includes information on:History Colorado's plans to maintain, enhance, and repair monuments and memorials in Lincoln veterans' memorial park and on the state capitol building grounds; andThe actual and planned use of money in the trust fund.     The act also requires the CBAC, before recommending a proposal for the placement of a memorial or an object of art on the state capitol building grounds to the capital development committee and the governor for approval, to ensure that the proposal includes funding sufficient to provide lifetime maintenance of the proposed memorial or object of art. Only a proposal that dedicates at least 5% of its total budget to maintenance includes funding sufficient to provide lifetime maintenance of the proposed object of art or memorial.(Note: This summary applies to this bill as enacted.)