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In cash-strapped Colorado, lawmakers tap an unorthodox pot of money for priorities. But is it too risky?

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In cash-strapped Colorado, lawmakers tap an unorthodox pot of money for priorities. But is it too risky?


Facing a $1.2 billion budget gap this year, Colorado lawmakers turned to a source of money they had mostly ignored for the past several years to pay for some priorities: the unclaimed property trust fund.

The legislature looks poised to tap the fund for two bills in the waning days of the legislative session, even as critics — chief among them Treasurer Dave Young — argue against drawing from a fund made up of lost money, not taxes, to cover the cost of government services.

The trust fund holds money from Coloradans’ old savings accounts, unpaid wages, insurance payouts and other cash lost on the way to its rightful owners. The treasurer’s office has a long-running program to return that money called the Great Colorado Payback.

The fund accounts for some $2 billion that doesn’t belong to the state, but it nonetheless has proven a tempting a source for a constantly cash-strapped legislature. Over the past two decades, lawmakers have pulled more than $660 million from the trust fund to pay for programs, according to the treasurer’s office, and not a single penny has been paid back.

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That’s left it with about $1.3 billion in cash and about $2 billion in liabilities.

That deficit could grow. A bill that would give safety-net health care facilities a lifeline following the pandemic and another supporting fire departments across the state could add some $140 million to that debt if lawmakers pass them by the end of the legislative session on Wednesday. (A third bill also sought to tap into the fund, but it died in committee Monday.)

“It’s not a tax fund. It’s a trust fund,” said Young, a Democrat. “There actually aren’t any taxes in this, though there might be some tax refunds that have gotten trapped in there.”

The importance of the programs justifies the unorthodox budget move, backers of the bills said, especially when lawmakers spent the year making deep cuts to state spending.

“It’s a tight budget year, so we’re looking everywhere to fund things,” said Sen. Barbara Kirkmeyer, a sponsor of the health care bill and a member of the Joint Budget Committee. “… There are certain services we have to provide as a government, and that’s things people can’t do for themselves. We have to look into it.”

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Helping safety-net hospitals

Senate Bill 290 would use the trust fund loan to seed an account to help keep safety-net hospitals afloat throughout Colorado, with matching money provided by state hospitals and the federal government. The bill aims to backstop critical health care infrastructure, while saving Medicaid money by treating people before their ailments progress into costlier hospital stays.

That helps put the proposal in a class of its own, in the view of Kirkmeyer, a Brighton Republican. She also emphasized that the bill taps the money as a loan, not as a simple cash grab.

The proposal might be well intentioned, but it still creates unnecessary risk, Young said. The general fund will have to repay the loans if the trust fund ever falters, and, more existentially, tapping it could disincentivize companies from depositing lost money to the state.

They, too, could argue they’re investing the money in critical programs while holding onto it for its rightful owners, he said.

Loans from the fund often don’t “pass the smell test” because of the terms written into law, Young said. The loans tend to be interest-free, with a single bulk repayment when they’re due decades from now — and no repayment plan.

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“I don’t think anyone could go to a bank and get a deal like that,” Young said. “I don’t think anyone could get a mortgage and say ‘We’ll pay it back in 40 years, in one lump sum, with zero interest.’ ”

Sen. Jeff Bridges, the chair of the budget committee, said the use of the fund for loans instead of direct spending made him “somewhat less uncomfortable, though still deeply uncomfortable,” given the state’s budget situation.

Still, he said, people should assume the loans will be forgiven instead of paid back by future lawmakers.

‘We have to be cautious’

The fund generally collects more money every year than it doles out, said Bridges, a Greenwood Village Democrat, even as he praised Young for the campaign to connect people with lost money. Given the state’s fiscal problems, the bills tapping the fund this year didn’t bother him, though he warned that “this can’t be a pattern that continues.”

“We have to be thoughtful, we have to be cautious,” Bridges, who is running for treasurer in 2026, said. “But for what’s running this year, I think the fund can handle those expenditures.”

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Young cautioned that new ways of reuniting people with money, along with a more proactive approach to finding folks who have lost cash in the fund, make it hard to calculate how much money the state could deem truly lost and unclaimable.

“The really assertive way the team has gone about using tools and finding people has made it hard to judge. We really want to get people those claims,” Young said.

Pulling money from the lost property trust fund has caused some breaks in the Democratic caucus. Rep. Brianna Titone, an Arvada Democrat, has railed against bills looking to tap into the fund and supported pushing one bill back to committee to change it.

She, like Bridges, is running for treasurer next year.

“There are arguments on both sides, (including) that the money is just sitting there,” Titone said. “But I don’t view it that way. I view this as other people’s property, and we should be treating it as such.”

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The debate also shows the complexity of state funding. Rep. Andrew Boesenecker, a Fort Collins Democrat, is sponsoring House Bill 1078. The bill would tap into the trust fund to create a revolving loan fund for local fire departments.

Those entities are now bearing the brunt of recent property tax cuts approved by the legislature — moves that, in turn, put other types of property at risk.

“We obviously have an obligation to protect people, keep property safe wherever we can,” Boesenecker said. “But that comes at a cost, and so many of our fire prevention districts are already strapped — so that revolving loan fund and zero-interest loan fund are critical there.”

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Opinion: Colorado must invest in evidence-based policies to prevent harm from substances, not costly criminalization

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Opinion: Colorado must invest in evidence-based policies to prevent harm from substances, not costly criminalization


Across the nation, the opioid epidemic has wreaked havoc on the health and lives of far too many, and Colorado is no exception. According to Mental Health America, Colorado ranks fourth and seventh in the country for adults and youth with substance use disorders, respectively. That means thousands of our friends, neighbors and loved ones are living with addiction and can’t get the help they need. Overdose deaths in Colorado have risen sharply since 2019, largely due to the proliferation of fentanyl, with 1,603 deaths in 2024 alone, according to the state. 

It’s a public health crisis, and one we’re now at risk of making even worse. Last month, supporters turned in signatures to send Initiative #85 to the 2026 ballot, a measure that would increase criminal penalties for fentanyl crimes. We feel this threatens to drag us backward toward the failed policies and practices of the past rather than working toward a healthier future.

At the same time, state and federal funding for treatment and prevention is drying up. The recently passed federal spending bill HR1 will mean devastating changes to Medicaid, gutting the single most important source of funding for substance use treatment in the country. For the past several years, as more states have expanded Medicaid under the Affordable Care Act, Medicaid has emerged as the leading source of coverage for addiction treatment in the nation. 

A recent Brookings study found that nearly 90% of treatment for opioid addiction is paid for, at least in part, by Medicaid. These cuts will leave our already strained systems unable to meet the growing demand, particularly for low-income and disabled individuals who will have fewer treatment options and more barriers to care. 

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Meanwhile, Colorado faced a $1.2 billion budget shortfall this year, and even more deficits are on the horizon for 2026. The state is stuck in a cycle of annual budget shortfalls of roughly $1 billion, making it increasingly difficult to cover existing programs and skyrocketing Medicaid costs. That means fewer resources to fill in federal funding gaps, a fraying behavioral health safety net, and an increasingly stressed population that is highly vulnerable to substance use and harm. 

Given this grim picture, it’s never been more critical to prioritize smart, effective policy to combat the overdose crisis. We should be focusing our scarce funding on evidence-based substance use prevention, treatment and recovery support, not costly, ineffective drug war criminalization policies that are historically discriminatory in their implementation and proven to fail. 

Mitigating and reversing the drug addiction crisis in Colorado and across the nation is complex and has to involve multiple strategies working in tandem to decrease supply and demand. While increasing criminal penalties related to drug addiction among individuals may seem like a tough-on-crime approach, it has not and will not resolve the drug addiction crisis nor dissolve the supply or the demand for illicit drugs.

Decades of data show that criminalizing substance users doesn’t reduce addiction or overdose. Recently, researchers at the University of Colorado Anschutz found the following: “Intensified drug enforcement laws have little deterrent effect on substance use and may worsen health outcomes. Fear of being arrested fosters riskier substance use behaviors and increased overdose risk. Incarceration and the subsequent stigma experienced by people with substance use disorder work in tandem to create barriers for treatment access and worsen mental health, creating a structurally reinforced cycle of isolation.” 

The research is clear. Harsh penalties haven’t protected our communities from the dangers of fentanyl. They have only compounded harm and pushed people deeper into the shadows, making it harder to seek help, and saddling individuals with felony records that create lifelong barriers to employment, housing, and recovery. 

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Policies like the proposed 2026 ballot measure to increase felony charges for drug possession are not just misguided — they cost taxpayer dollars. They further overburden law enforcement agencies, flood jails, courtrooms and prisons that are already beyond their capacity, and ultimately do nothing to address the core of the opioid epidemic.

Instead of doubling down on punishing people who use substances, we need to expand what works: prevention programs in schools and communities, access to harm reduction tools like naloxone, and a robust continuum of care that includes outpatient and residential treatment. We need more support for peer recovery professionals, more public education and more investment in what keeps people healthy, which includes housing, food security and opportunities for connection. We need to act together, with assertive intelligence, to disrupt the black market drug trafficking that is the enemy of the people.

The opioid crisis is a public health crisis and demands a public health response. Colorado has the knowledge, data and tools to build a more effective and compassionate system. But we cannot do it if we are bleeding out resources to punitive policies that fail the people they claim to help.

Let’s not go backward. Let’s invest in health and safety and give Coloradans a real chance at recovery.

Vincent Atchity, of Denver, is the president and CEO of Mental Health Colorado.

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José Esquibel, of Jefferson County, is the former vice chair of the Colorado Substance Abuse Trend and Response Task Force.


The Colorado Sun is a nonpartisan news organization, and the opinions of columnists and editorial writers do not reflect the opinions of the newsroom. Read our ethics policy for more on The Sun’s opinion policy. Learn how to submit a column. Reach the opinion editor at opinion@coloradosun.com.

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Bright Leaf helps grandparents raising grandkids in Colorado as they face holiday hardships

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Bright Leaf helps grandparents raising grandkids in Colorado as they face holiday hardships


At a kitchen table in Arvada, backpacks and homework papers take over. It’s a common sight for Carla Aguilar, but one she never expected to repeat.

“I thought I was all done raising kids, you know?” Aguilar said.

Carla Aguilar and her 8-year-old granddaughter, Athena.

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For more than a decade, Aguilar has been raising her two granddaughters, Ava and Athena. Ava, 12, was too shy to appear on camera, but 8-year-old Athena proudly showed how her grandmother helps her learn.

“She helps me read,” Athena said. “She taught me how to write correctly.”

Aguilar, 55, is disabled and lives on a fixed income. She says every day is a balancing act, and this time of year is challenging.

“Holidays are hard, so we’re kind of dealing with that right now,” she said.

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Aguilar’s story is far from unique. According to the latest data from the American Society on Aging and the U.S. Census Bureau, more than 2 million grandparents nationwide are primary caregivers for their grandchildren. In Colorado, more than 36,000 families face the same reality, often with limited financial resources and little support.

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Carla Aguilar

CBS


“Most of these seniors are on fixed income, social security, disability, and you can’t really stretch that too far in Colorado these days,” said Steve Olguin, executive director of Bright Leaf, a nonprofit that helps older adults across the state.

Bright Leaf started as a small community group and now provides free home repairs, food assistance, and other essentials to seniors statewide. Its newest initiative, GrandCare Alliance, focuses on grandparents raising grandkids — offering help with school costs, activity fees, and holiday wish lists.

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“We’re just trying to help out so it’s not as rough for them,” Olguin said.

For Aguilar, that support is a lifeline. She says her granddaughters are her world, and she’ll never stop fighting for them.

“They’re my heart, my soul, everything,” Aguilar said. “I will take care of them until my last breath.”

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Steve Olguin, executive director of Bright Leaf.

CBS

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Bright Leaf is asking for the community’s help in supporting the GrandCare Alliance and its other services. Those who want more information on how to volunteer and donate can visit their website. 



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Warmer temperatures expected into Christmas week for southern Colorado

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Warmer temperatures expected into Christmas week for southern Colorado


  • Possible fire danger ahead
  • Warm for the week ahead
  • Still a bit breezy

MONDAY: Monday will be warmer with 60s returning for many in southern Colorado. Plenty of sunshine is expected with a bit of a breeze too. Spotty fire weather conditions are possible for some too.

MID-WEEK: Humidity levels will likely improve throughout the week with less fire danger expected. However, sunshine and temperatures about 20 degrees above averages continue.

Download the KKTV 11 Alert Weather App here:

CHRISTMAS: Christmas will be warm and dry with highs in the 60s for many with sunshine. The high country through the divide and Wolf Creek Pass may see some snow, but we will be dry in southern Colorado.

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