(1) As used in this section, unless the context otherwise requires: (a) "Area technical college" has the same meaning as defined in section 23-60-103 (1). (b) "Commission" means the Colorado commission on higher education established pursuant to section 23-1-102. (c) "Department" means the department of higher education created pursuant to section 24-1-114. (d) "Grant program" means the area technical college grant program established pursuant to subsection (2) of this section. (2) There is established in the department the area technical college grant program to provide up to four million dollars each fiscal year in grants to area technical colleges for identified capital construction and equipment purposes in addition to the direct grants received pursuant to section 23-18-304 (2)(a). On or before July 15, 2019, and on or before each July 15 thereafter, an area technical college may submit a grant application developed pursuant to subsection (3) of this section to the department. If more than one grant application is submitted during any year, on or before July 30, the area technical colleges shall jointly submit to the department a list of the grants in prioritized order. The department shall review the application and recommend to the commission whether to include money for the grant in its budget request pursuant to section 23-18-304 (2) for the following state fiscal year. The commission shall determine whether to include money for the grant in the budget request, and, if the commission includes more than one grant in its request, the commission shall prioritize the requests. If the department receives money for the grant, the department shall transmit the full amount of the grant to the area technical college. (3) The department shall develop a form for the grant application that must include: (a) Identification of how the grant money will be spent; (b) Specification of how the grant money will benefit students and any program at the school; and (c) Any matching money to be added to the grant money and the source of the matching money. (4) If an area technical college receives grant money pursuant to this section, on or before August 1 of the budget year following any expenditure of money from a grant, the area technical college shall submit a report to the department on a form developed by the department that must include: (a) The amount of the grant received; (b) The total amount of grant expenditures made during the previous budget year; (c) An itemization of the grant expenditures made during the previous budget year; and (d) the impact of the grant expenditures on students. (5) This section is repealed, effective July 1, 2026.
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