As used in this part 12, unless the context otherwise requires:
(1) Barrel means forty-two United States gallons at sixty degrees Fahrenheit at atmospheric pressure.
(1.5) Battery electric motor vehicle means a motor vehicle that is powered exclusively by a rechargeable battery pack that can be recharged by being plugged into an external source of electricity and that has no secondary source of propulsion.
(2) Board means the governing board of the enterprise.
(3) Commission means the transportation commission created in section 43-1-106 (1).
(4) Department means the department of transportation created in section 24-1-128.7.
(5) Disproportionately impacted community has the meaning set forth in section 24-4-109 (2)(b)(II).
(6) Electric motor vehicle means a battery electric motor vehicle, a hydrogen fuel cell motor vehicle, or a plug-in hybrid electric motor vehicle.
(7) Electric motor vehicle charging infrastructure means electric vehicle charging systems and other electrical equipment installed on site to support electric motor vehicle charging, including but not limited to battery energy storage systems.
(7.3) Eligible entity means a local government, local or regional transit district, regional transportation authority serving one or more counties, or nonprofit organization that provides public transit.
(7.7) Eligible operating expenses means all operating expenses required for public transportation, including employee wages and benefits, materials, fuels, supplies, facilities, rental of facilities, and any other expenditure that directly supports the expansion of transit service.
(8) Enterprise means the clean transit enterprise created in section 43-4-1203 (1)(a).
(9) Fund means the clean transit enterprise fund created in section 43-4-1203 (5).
(9.5) Gas has the meaning set forth in section 34-60-103 and includes natural gas liquids.
(9.7) Gas spot price means the Henry Hub natural gas spot price as reported by the United States energy information administration or a successor price index selected by the energy and carbon management commission created in section 34-60-104.3.
(10) Hydrogen fuel cell motor vehicle means a motor vehicle that is powered by electricity produced from a fuel cell that uses hydrogen gas as fuel.
(11) Inflation means the average annual percentage change in the United States department of labor, bureau of labor statistics, consumer price index for Denver-Aurora-Lakewood for all items and all urban consumers, or its applicable predecessor or successor index, for the five years ending on the last December 31 before a state fiscal year for which an inflation adjustment to be made to the clean transit retail delivery fee imposed pursuant to section 43-4-1203 (7) begins.
(11.3) MCF means one thousand cubic feet.
(11.7) MMBTU means one million British thermal units.
(12) Motor vehicle has the same meaning as set forth in section 42-1-102 (58). The term does not include a personal delivery device.
(12.5) Oil has the meaning set forth in section 34-60-103.
(12.7) Oil spot price means the west Texas intermediate spot price as reported by the United States energy information administration or a successor price index selected by the energy and carbon management commission.
(13) Personal delivery device means an autonomously operated robot that:
(a) Is designed and manufactured for the purpose of transporting tangible personal property primarily on sidewalks, crosswalks, and other public rights-of-way that are typically used by pedestrians;
(b) Weighs no more than five hundred fifty pounds, excluding any tangible personal property being transported; and
(c) Operates at speeds of less than ten miles per hour when on sidewalks, crosswalks, and other public rights-of-way that are typically used by pedestrians.
(14) Plug-in hybrid electric motor vehicle means a motor vehicle that is powered by both a rechargeable battery pack that can be recharged by being plugged into an external source of electricity and a secondary source of propulsion such as an internal combustion engine.
(14.3) Producer has the meaning set forth in section 34-60-103.
(14.5) Production fee amounts means:
(a) For oil, if the average oil spot price for the calendar quarter in which the production fee for clean transit is being assessed is:
(I) Forty dollars per barrel of oil or less, an amount determined by the enterprise, with a maximum amount of four cents per barrel of oil;
(II) Greater than forty dollars but less than or equal to fifty dollars per barrel of oil, an amount determined by the enterprise, with a maximum amount of twelve cents per barrel of oil;
(III) Greater than fifty dollars but less than or equal to sixty dollars per barrel of oil, an amount determined by the enterprise, with a maximum amount of twenty-four cents per barrel of oil; and
(IV) Greater than sixty dollars per barrel of oil, an amount determined by the enterprise, which amount must only increase at a maximum rate of twelve cents for each ten dollars, or fraction of ten dollars, by which the average oil spot price exceeds sixty dollars per barrel of oil; and
(b) For gas, if the average gas spot price for the calendar quarter in which the production fee for clean transit is being assessed is:
(I) One dollar and forty cents per MMBTU of gas or less, an amount determined by the enterprise, with a maximum amount of 0.16 cents per MCF of gas;
(II) Greater than one dollar and forty cents but less than or equal to one dollar and eighty cents per MMBTU of gas, an amount determined by the enterprise, with a maximum amount of 0.64 cents per MCF of gas;
(III) Greater than one dollar and eighty cents but less than or equal to two dollars and twenty cents per MMBTU of gas, an amount determined by the enterprise, with a maximum amount of 1.12 cents per MCF of gas; and
(IV) Greater than two dollars and twenty cents per MMBTU of gas, an amount determined by the enterprise, which amount must only increase at a maximum rate of 0.48 cents for each forty cents, or fraction of forty cents, by which the average gas spot price exceeds two dollars and twenty cents per MMBTU of gas.
(14.7) Production fee for clean transit or production fees for clean transit means the production fee for clean transit imposed by the enterprise pursuant to section 43-4-1204 (1).
(14.9) Production fee for wildlife and land remediation or production fees for wildlife and land remediation means the production fee for wildlife and land remediation imposed by the division of parks and wildlife pursuant to section 33-61-103.
(15) Retail delivery has the same meaning as set forth in section 43-4-218 (2)(e).
(16) Retailer has the same meaning as set forth in section 39-26-102 (8).
(17) Repealed.
(18) Tangible personal property has the same meaning as set forth in section 39-26-102 (15).
(19) Transit means mass transit, as defined in section 43-1-102 (4).
(20) Zero emissions motor vehicle means a battery electric motor vehicle or a hydrogen fuel cell motor vehicle.
Source: L. 2021: Entire part added, (SB 21-260), ch. 250, p. 1454, � 52, effective June 17. L. 2023: (5) amended, (HB 23-1233), ch. 245, p. 1334, � 22, effective May 23; (15) amended and (17) repealed, (SB 23-143), ch. 153, p. 656, � 9, effective July 1. L. 2024: (1) amended and (1.5), (7.3), (7.7), (9.5), (9.7), (11.3), (11.7), (12.5), (12.7), (14.3), (14.5), (14.7), and (14.9) added, (SB 24-230), ch. 184, p. 1004, � 2, effective May 16.
Cross references: For the legislative declaration in HB 23-1233, see section 1 of chapter 245, Session Laws of Colorado 2023.
43-4-1203. Clean transit enterprise - creation - board - powers and duties - rules - fees - fund. (1) (a) The clean transit enterprise is created in the department. The enterprise is and operates as a government-owned business within the department in order to execute its business purposes as specified in subsection (3)(a) of this section by exercising the powers and performing the duties and functions set forth in this section.
(b) The enterprise is a type 1 entity, as defined in section 24-1-105, and exercises its powers and performs its duties and functions under the department.
(2) (a) The governing board of the enterprise consists of nine members appointed as follows:
(I) The governor shall appoint six members with the advice and consent of the senate for terms of the length specified in subsection (2)(b) of this section. The governor shall make reasonable efforts, to the extent such applications have been submitted for consideration for the board, to consider members that reflect the state's geographic diversity when making appointments and shall make initial appointments no later than October 1, 2021. Of the members appointed by the governor:
(A) One member must be a member of the commission and have statewide transportation expertise;
(B) One member must represent an urban area and have transit expertise;
(C) One member must represent a rural area and have transit expertise;
(D) One member must have expertise in zero-emissions transportation, motor vehicle fleets, or utilities;
(E) One member must represent a transportation-focused organization that serves an environmental justice community; and
(F) One member must represent a public advocacy group that has transit or comprehensive transportation expertise.
(II) The executive director of the department of transportation or the executive director's designee;
(III) The director of the Colorado energy office or the director's designee; and
(IV) The executive director of the department of public health and environment or the executive director's designee.
(b) Members of the board appointed by the governor serve for terms of four years; except that three of the members initially appointed shall serve for initial terms of three years and the term of the member appointed pursuant to subsection (2)(a)(I)(A) of this section continues for as long as the member is a member of the commission. A member who is appointed to fill a vacancy on the board shall serve the remainder of the unexpired term of the former member. The other board members serve for as long as they hold their positions or are designated to serve.
(c) Members of the board serve without compensation but must be reimbursed from money in the fund for actual and necessary expenses incurred in the performance of their duties pursuant to this part 12.
(3) (a) The primary business purposes of the enterprise are to:
(I) Reduce and mitigate the adverse environmental and health impacts of air pollution and greenhouse gas emissions produced by motor vehicles used to make retail deliveries by supporting the replacement of existing gasoline and diesel transit vehicles with electric motor vehicles, including motor vehicles that originally were powered exclusively by internal combustion engines but have been converted into electric motor vehicles; providing the associated charging infrastructure for electric transit fleet motor vehicles; supporting facility modifications that allow for the safe operation and maintenance of electric transit motor vehicles; and funding planning studies that enable transit agencies to plan for transit vehicle electrification; and
(II) Reduce and mitigate the adverse environmental and health impacts of air pollution and greenhouse gas emissions produced by oil and gas development by investing in public transit, including vehicles, infrastructure, equipment, materials, supplies, maintenance, and operations and staffing, to achieve the level of frequent, convenient, and reliable transit that is known to increase ridership by replacing car trips with bus and rail trips and forms of transit known to support denser land use patterns that further reduce pollution due to shorter trip lengths and greater walking and cycling mode share.
(b) To allow the enterprise to accomplish the business purposes described in subsection (3)(a) of this section and fully exercise its powers and duties through the board, the enterprise may:
(I) Impose a clean transit retail delivery fee as authorized by subsection (7) of this section;
(II) Impose the production fee for clean transit as authorized by section 43-4-1204;
(III) Issue grants and provide loans and rebates as authorized by subsection (8) of this section;
(IV) Implement the remediation services described in section 43-4-1204; and
(V) Issue revenue bonds payable from the revenue and other available money of the enterprise.
(4) The enterprise constitutes an enterprise for purposes of section 20 of article X of the state constitution so long as it retains the authority to issue revenue bonds and receives less than ten percent of its total annual revenue in grants from all Colorado state and local governments combined. So long as it constitutes an enterprise pursuant to this subsection (4), the enterprise is not subject to section 20 of article X of the state constitution.
(5) (a) The clean transit enterprise fund is hereby created in the state treasury. The fund consists of clean transit retail delivery fee revenue credited to the fund pursuant to subsection (7) of this section, any monetary gifts, grants, donations, or other money received by the enterprise, any federal money that may be credited to the fund, and any other money that the general assembly may appropriate or transfer to the fund. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund. Subject to annual appropriation by the general assembly, the enterprise may expend money from the fund to provide grants, pay its reasonable and necessary operating expenses, including repayment of any loan received by the enterprise pursuant to subsection (5)(b) of this section, and otherwise exercise its powers and perform its duties as authorized by this part 3.
(b) The commission may transfer money from the state highway fund created in section 43-1-219 to the enterprise for the purpose of defraying expenses incurred by the enterprise before it receives fee revenue or revenue bond proceeds, and a transfer for such purpose is made, in accordance with section 18 of article X of the state constitution, for the supervision of the public highways of this state. The enterprise may accept and expend any money so transferred, and, notwithstanding any state fiscal rule or generally accepted accounting principle that could otherwise be interpreted to require a contrary conclusion, such a transfer is a loan from the commission to the enterprise that is required to be repaid and is not a grant for purposes of section 20 (2)(d) of article X of the state constitution or as defined in section 24-77-102 (7). All money transferred as a loan to the enterprise shall be credited to the clean transit enterprise initial expenses fund, which is hereby created in the state treasury, and loan liabilities that are recorded in the fund but that are not required to be paid in the current fiscal year shall not be considered when calculating sufficient statutory fund balance for purposes of section 24-75-109. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the clean transit enterprise initial expenses fund to the fund. The clean transit enterprise initial expenses fund is continuously appropriated to the enterprise for the purpose of defraying expenses incurred by the enterprise before it receives fee revenue or revenue bond proceeds. As the enterprise receives sufficient revenue in excess of expenses, the enterprise shall reimburse the state highway fund for the principal amount of any loan made by the commission plus interest at a rate set by the commission.
(6) In addition to any other powers and duties specified in this section, the board has the following general powers and duties:
(a) To adopt bylaws for the regulation of its affairs and the conduct of its business;
(b) To acquire, hold title to, and dispose of real and personal property;
(c) To employ and supervise individuals, professional consultants, and contractors as are necessary in its judgment to carry out its business purpose;
(d) To contract with any public or private entity;
(e) To seek, accept, and expend gifts, grants, and donations from private or public sources for the purposes of this part 12. The enterprise shall transmit any money received through gifts, grants, or donations to the state treasurer, who shall credit the money to the fund.
(f) To directly provide any service that it is authorized to provide indirectly through grants awarded pursuant to subsection (8) of this section;
(g) To promulgate rules to set the amount of the clean transit retail delivery fee at or below the maximum amount authorized in this section and to govern the process by which the enterprise accepts applications for, awards, and oversees grants, loans, and rebates pursuant to subsection (8) of this section; and
(h) To have and exercise all rights and powers necessary or incidental to or implied from the specific powers and duties granted by this section.
(7) (a) In furtherance of its business purpose, beginning in state fiscal year 2022-23, the enterprise shall impose, and the department of revenue shall collect on behalf of the enterprise, a clean transit retail delivery fee on each retail delivery. Each retailer who makes a retail delivery shall either collect and remit or elect to pay the clean transit retail delivery fee in the manner prescribed by the department in accordance with section 43-4-218 (6). For the purpose of minimizing compliance costs for retailers and administrative costs for the state, the department of revenue shall collect and administer the clean transit retail delivery fee on behalf of the enterprise in the same manner in which it collects and administers the retail delivery fee imposed by section 43-4-218 (3).
(b) For retail deliveries of tangible personal property purchased during state fiscal year 2022-23, the enterprise shall impose the clean transit retail delivery fee in a maximum amount of three cents.
(c) (I) Except as otherwise provided in subsection (7)(c)(II) of this section, for retail deliveries of tangible personal property purchased during state fiscal year 2023-24 or during any subsequent state fiscal year, the enterprise shall impose the clean transit retail delivery fee in a maximum amount that is the maximum amount for the prior state fiscal year adjusted for inflation. The enterprise shall notify the department of revenue of the amount of the clean transit retail delivery fee to be collected for retail deliveries of tangible personal property purchased during each state fiscal year no later than March 15 of the calendar year in which the state fiscal year begins, and the department of revenue shall publish the amount no later than April 15 of the calendar year in which the state fiscal year begins.
(II) The enterprise is authorized to adjust the amount of the clean transit retail delivery fee for retail deliveries of tangible personal property purchased during a state fiscal year only if the department of revenue adjusts the amount of the retail delivery fee imposed by section 43-4-218 (3) for retail deliveries of tangible personal property purchased during the state fiscal year.
(8) (a) In furtherance of its business purpose, and subject to the requirements set forth in this subsection (8), the enterprise is authorized to make grants, loans, or rebates to support electrification of public transit.
(b) The enterprise may make grants, loans, or rebates to fund:
(I) Clean transit planning efforts;
(II) Facility upgrades necessary for the safe operation and maintenance of electric motor vehicles used by public transit providers;
(III) The construction of electric motor vehicle charging infrastructure used by public transit providers; and
(IV) The replacement of motor vehicles used by public transit providers that are not electric motor vehicles by electric motor vehicles, or, if electric motor vehicles are not practically available, by compressed natural gas motor vehicles, as defined in section 25-7.5-102 (5), if at least ninety percent of the fuel for the compressed natural gas motor vehicles will be recovered methane, as defined in section 25-7.5-102 (20).
(c) The enterprise shall award grants on a competitive basis based on written criteria established by the enterprise in advance of any deadlines for the submission of grant applications.
(9) The enterprise shall contract with the air pollution control division of the department of public health and environment to develop proposed rules for the consideration of the air quality control commission that will support the enterprise's business services, including remediation services, in a manner that maintains compliance with the federal and state statutes, rules, and regulations governing air quality. The division shall collaborate with the Colorado energy office and the department when developing the rules.
(10) (a) To ensure transparency and accountability, the enterprise shall:
(I) No later than June 1, 2022, publish and post on its website a ten-year plan that details how the enterprise will execute its business purpose during state fiscal years 2022-23 through 2031-32 and estimates the amount of funding needed to implement the plan. No later than January 1, 2032, the enterprise shall publish and post on its website a new ten-year plan for state fiscal years 2032-33 through 2041-42.
(II) Create, maintain, and regularly update on its website a public accountability dashboard that provides, at a minimum, accessible and transparent summary information regarding the implementation of its ten-year plan, the funding status and progress toward completion of each project that it wholly or partly funds, and its per project and total funding and expenditures;
(III) Engage regularly regarding its projects and activities with the public, specifically reaching out to and seeking input from communities, including but not limited to disproportionately impacted communities, and interest groups that are likely to be interested in the projects and activities; and
(IV) Prepare an annual report regarding its activities and funding and present the report to the transportation commission created in section 43-1-106 (1) and to the transportation and local government and energy and environment committees of the house of representatives and the transportation and energy committee of the senate, or any successor committees. The enterprise shall also post the annual report on its website. Notwithstanding the requirement in section 24-1-136 (11)(a)(I), the requirement to submit the report required in this subsection (10)(a)(IV) to the specified legislative committees continues indefinitely.
(b) The enterprise is subject to the open meetings provisions of the Colorado Sunshine Act of 1972, contained in part 4 of article 6 of title 24, and the Colorado Open Records Act, part 2 of article 72 of title 24.
(c) For purposes of the Colorado Open Records Act, part 2 of article 72 of title 24, and except as may otherwise be provided by federal law or regulation or state law, the records of the enterprise are public records, as defined in section 24-72-202 (6), regardless of whether the enterprise receives less than ten percent of its total annual revenue in grants, as defined in section 24-77-102 (7), from all Colorado state and local governments combined.
(d) The enterprise is a public entity for purposes of part 2 of article 57 of title 11.
Source: L. 2021: Entire part added, (SB 21-260), ch. 250, p. 1456, � 52, effective June 17. L. 2022: (1) amended, (SB 22-162), ch. 469, p. 3433, � 225, effective August 10. L. 2023: (7)(a) amended, (SB 23-143), ch. 153, p. 656, � 10, effective July 1. L. 2024: (1)(a) and (3) amended, (SB 24-230), ch. 184, p. 1006, � 3, effective May 16.
Cross references: For the short title (the Debbie Haskins 'Administrative Organization Act of 1968' Modernization Act) in SB 22-162, see section 1 of chapter 469, Session Laws of Colorado 2022.
43-4-1204. Production fee for clean transit imposed by the enterprise - local transit operations program - local transit grant program - rail funding program - cash funds - report. (1) (a) In furtherance of its business purpose pursuant to section 43-4-1203 (3)(a)(II), the enterprise shall impose a production fee for clean transit to be paid quarterly by every producer that applies to all oil and gas produced by the producer in the state on and after July 1, 2025.
(b) (I) No later than one week after October 1, 2025, and no later than one week after the first day of each calendar quarter thereafter, the energy and carbon management commission, created in section 34-60-104.3 (1), shall calculate, including performing any necessary measurement unit conversions to calculate, the average oil spot price and the average gas spot price for the previous calendar quarter and publish the average oil spot price and average gas spot price on the energy and carbon management commission's website. The energy and carbon management commission shall routinely provide written guidance to the enterprise on factors relevant to the production fee amounts, including guidance on the current condition of the oil and gas market and the market's sensitivity to higher or lower production fee amounts. In preparing the written guidance, the energy and carbon management commission shall:
(A) Take into consideration emergencies, national security needs, extreme market disruptions, and extreme new regulatory burdens on producers; and
(B) Not act in an arbitrary and capricious manner.
(II) No later than one month after the energy and carbon management commission publishes the average oil spot price and the average gas spot price for the previous calendar quarter on the energy and carbon management commission's website pursuant to subsection (1)(b)(I) of this section, the enterprise shall set the production fee amounts applicable to the previous calendar quarter, notify the executive director of the department of revenue of the production fee amounts set, and publish the production fee amounts on the enterprise's website. Prior to adopting the production fee amounts, the enterprise shall consult with the energy and carbon management commission on the appropriate production fee amounts for the previous quarter and take into account the maximum amounts described in section 43-4-1202 and other relevant market factors.
(III) On or before the last day of the second month following the previous calendar quarter, every producer shall file a return and pay the production fee for clean transit for the previous calendar quarter in accordance with section 33-61-106.
(c) (I) The executive director of the department of revenue shall collect, administer, and enforce the production fee for clean transit on behalf of the enterprise in accordance with article 61 of title 33 and article 21 of title 39.
(II) For the purpose of minimizing compliance costs for producers and administrative costs for the state, when the executive director of the department of revenue collects the production fee for clean transit, the executive director of the department of revenue shall also collect the production fee for wildlife and land remediation in the same manner.
(d) The executive director of the department of revenue shall transmit any production fees for clean transit collected pursuant to subsection (1)(c) of this section to the state treasurer, who shall credit:
(I) First, the costs to the department of revenue for administering the production fees for clean transit pursuant to section 33-61-104, which shall be credited to the oil and gas production fees collection fund created in section 33-61-104 (1); and
(II) Second, of the amount of the production fees for clean transit remaining:
(A) Seventy percent to the local transit operations cash fund created in subsection (3)(a) of this section;
(B) Ten percent to the local transit grant program cash fund created in subsection (4)(a) of this section; and
(C) Twenty percent to the rail funding program cash fund created in subsection (5)(a) of this section.
(e) Any money that the department of revenue collects and transmits to the state treasurer pursuant to this subsection (1):
(I) Is collected for the enterprise;
(II) Is custodial money intended for the enterprise and held temporarily by the department of revenue and the state treasurer solely for the purpose of crediting the money to the cash funds described in subsection (1)(d) of this section; and
(III) Based on the enterprise's status as an enterprise, is not subject to section 20 of article X of the state constitution at any time during its collection, transmission, and use.
(2) No later than March 1, 2030, and every fifth March 1 thereafter, the enterprise shall complete an analysis of the production fee amounts, the amount of revenue generated by the production fees for clean transit, and the use of the production fee for clean transit revenue in order to ensure that the enterprise is continuing to impose production fee amounts that are reasonably calculated to not exceed the overall costs of providing the remediation services described in this section. The enterprise shall post the analysis on the enterprise's website.
(3) (a) The local transit operations cash fund is created in the state treasury. The local transit operations cash fund consists of production fees for clean transit credited to the local transit operations cash fund pursuant to subsection (1)(d)(II)(A) of this section, any other money that the general assembly may appropriate or transfer to the local transit operations cash fund, and any federal money or gifts, grants, or donations received. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the local transit operations cash fund to the local transit operations cash fund. Money in the local transit operations cash fund is continuously appropriated to the enterprise for the purposes specified in this subsection (3).
(b) The local transit operations program is created to:
(I) Expand transit service, increase transit frequency, and improve system-wide transit network connectivity with the goal of maximizing transit ridership, therefore decreasing vehicle miles traveled, greenhouse gas emissions, and air pollutants; and
(II) Prioritize transit service improvements in communities with high transit propensity, such as low-income communities, communities of color, communities with high-density populations, communities with zoning and other local policies that support higher densities along transit lines, communities with low vehicle ownership rates, the disability community, seniors, and other populations that use transit more frequently than the general population.
(c) Pursuant to the purposes of the local transit operations program, the enterprise shall allocate money from the local transit operations cash fund to eligible entities using a formula developed by the board, which shall be based on population, population density, local zoning, transit ridership, vehicle revenue miles, share of disproportionately impacted community population, and other transit-related criteria. An eligible entity that is awarded money from the local transit operations cash fund shall:
(I) Prior to receiving any money, submit the eligible entity's most recent comprehensive operational analysis to the board and describe how the money would be used to expand transit service, increase transit frequency, improve system-wide transit connectivity, and meet the other purposes described in subsection (3)(b) of this section;
(II) Use the money for eligible operating expenses; and
(III) Use the entirety of the money no later than two years after the contract allocating the money is finalized.
(d) An eligible entity, except for a nonprofit organization, awarded money pursuant to subsection (3)(c) of this section that provides service to areas with a population of one million individuals or more shall:
(I) In a format that is easy to access, understand, and navigate:
(A) Make the eligible entity's annual budget or other information related to the budget available to the public on the eligible entity's website; and
(B) Create and make available to the public on the eligible entity's website an annual budget overview that provides a single-page summary of the eligible entity's revenues and expenses by category as specified in the eligible entity's annual budget; and
(II) Create, maintain, and regularly update the following on the eligible entity's website:
(A) An annual update regarding the eligible entity's financial plan that includes a detailed report of all the eligible entity's capital projects that are in progress and that exceed ten million dollars;
(B) A quarterly update regarding all of the eligible entity's capital projects that are in progress and that exceed ten million dollars, including a project schedule and project expenditure information for each project;
(C) A public accountability dashboard that provides, at a minimum, accessible and transparent summary information regarding each of the eligible entity's capital projects that is in progress and that exceeds ten million dollars; the funding status of each project, including the project's total funding and expenditures to date; and the eligible entity's progress toward the completion of each project;
(D) A public accountability dashboard that shows ridership by route and reliability of service;
(E) A public accountability dashboard that shows the eligible entity's workforce statistics regarding employee retention, recruitment, and vacancies; and
(F) A summary page for planned service changes that includes detailed timing changes, effects on local transfers, and the reasons for any planned changes.
(e) For money awarded pursuant to subsection (3)(c) of this section that is awarded no later than the state fiscal year beginning on July 1, 2025, an eligible entity may be exempt from the reporting requirements of subsections (3)(c)(I) and (3)(d) of this section, in the enterprise's discretion, if the eligible entity submits to the enterprise by July 1, 2025, a plan outlining how it will meet the reporting requirements.
(4) (a) The local transit grant program cash fund is created in the state treasury. The local transit grant program cash fund consists of production fees for clean transit credited to the local transit grant program cash fund pursuant to subsection (1)(d)(II)(B) of this section, any other money that the general assembly may appropriate or transfer to the local transit grant program cash fund, and any federal money or gifts, grants, or donations received. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the local transit grant program cash fund to the local transit grant program cash fund. Money in the local transit grant program cash fund is continuously appropriated to the enterprise for the purposes specified in this subsection (4).
(b) The local transit grant program is created to increase transit ridership and service, particularly in transit-reliant communities, therefore decreasing vehicle miles traveled, greenhouse gas emissions, and air pollutants.
(c) The enterprise shall provide competitive grants from the local transit grant program cash fund to eligible entities for eligible operating expenses and capital expenses associated with providing public transportation, including multimodal projects that improve accessibility and connectivity between transit services and safe access to transit for pedestrians and bicyclists. The board shall design the grant program to incentivize the matching of grants and the creation or expansion of local regional transportation authorities.
(5) (a) The rail funding program cash fund is created in the state treasury. The rail funding program cash fund consists of production fees for clean transit credited to the rail funding program cash fund pursuant to subsection (1)(d)(II)(C) of this section, any other money that the general assembly may appropriate or transfer to the rail funding program cash fund, and any federal money or gifts, grants, or donations received. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the rail funding program cash fund to the rail funding program cash fund. Money in the rail funding program cash fund is continuously appropriated to the enterprise for the purposes specified in this subsection (5).
(b) The rail funding program is created to fund passenger rail projects and service, therefore decreasing vehicle miles traveled, greenhouse gas emissions, and air pollutants.
(c) Pursuant to the purpose of the rail funding program, the enterprise shall allocate money annually from the rail funding program cash fund for passenger rail projects of regional and statewide importance, including projects that:
(I) Have established plans and can demonstrate the potential for high ridership and the reduction of vehicle miles traveled;
(II) Facilitate lower-impact local land use decisions, in particular the construction of mixed-use or infill housing development along the passenger rail corridor to achieve lower energy use intensity, fewer greenhouse gas emissions, greater density and walkability, and less water consumption from the built environment; and
(III) Strive to use low- to zero-emissions technology.
(d) (I) Pursuant to the purpose of the rail funding program, the enterprise shall prioritize funding opportunities to establish passenger rail where there is matching funding from other sources, such as the regional transportation district's FasTracks internal savings account, federal funding, local funding, and other sources.
(II) Any money from the rail funding program cash fund that is used for the regional transportation district's transportation expansion plan adopted by the board of the regional transportation district and approved by the voters on November 2, 2004, must be in addition to the regional transportation district's FasTracks internal savings account and must not supplant existing resources in the regional transportation district's FasTracks internal savings account.
Source: L. 2024: Entire section added, (SB 24-230), ch. 184, p. 1007, � 4, effective May 16. L. 2025: (3)(c)(I), IP(3)(d), (3)(d)(II)(A), (3)(d)(II)(B), and (3)(d)(II)(C) amended and (3)(e) added, (SB 25-161), ch. 186, p. 824, � 9, effective May 13.