Colorado § 24-82-1001 - Legislative declaration - exclusion of proceeds of leveraged leasing agreements from fiscal year spending - voter approval not required.
Full text of Colorado Colorado Revised Statutes § 24-82-1001 — Legislative declaration - exclusion of proceeds of leveraged leasing agreements from fiscal year spending - voter approval not required., with citation guidance and answers to common questions.
§ 24-82-1001. Legislative declaration - exclusion of proceeds of leveraged leasing agreements from fiscal year spending - voter approval not required.
(1) The general assembly hereby finds and declares that:
(a) Section 20 of article X of the state constitution limits state fiscal year spending.
(b) Section 20 (2)(e) of article X defines "fiscal year spending" to include all revenues and expenditures except those for refunds and those from certain sources, such as property sales.
(c) Monetary consideration paid to the state by a private person in connection with a leveraged leasing agreement constitutes revenues to the state from a property sale because the consideration is paid in exchange for a property interest in a qualified state asset and constitutes revenues from a property sale, and such revenues are therefore excluded from state fiscal year spending.
(2) The general assembly further finds and declares that:
(a) Section 20 of article X of the state constitution requires voter approval in advance for creation of any multiple-fiscal year financial obligation whatsoever without adequate present cash reserves pledged irrevocably and held for payments in all future fiscal years.
(b) The sublease of a qualified state capital asset from a private person to the state under a leveraged leasing agreement is a multiple-fiscal year financial obligation of the state under section 20 of article X of the state constitution, but the state may enter into a leveraged leasing agreement without voter approval in advance because a leveraged leasing agreement requires the state to deposit into a specified account adequate cash reserves pledged irrevocably for sublease payments in all future fiscal years.
Source: L. 2003: Entire part added, p. 1717, § 1, effective May 14.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 24-82-1001
What does Colorado Revised Statutes § 24-82-1001 cover?
Section 24-82-1001 ("Legislative declaration - exclusion of proceeds of leveraged leasing agreements from fiscal year spending - voter approval not required.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 24-82-1001?
A common citation format is "Colorado Revised Statutes § 24-82-1001" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 24-82-1001 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.