COLORADO SPRINGS, Colo. (KKTV) -Described by one fire chief as a ‘band-aid,’ new legislation being looked over would provide $50 million in tax-free loans for fire departments across Colorado.
HB25-1078 requires the state treasurer to make an interest-free loan from the unclaimed property trust fund (UPTF loan) to the Department of Local Affairs. They would then create a revolving loan program for town, city, and county fire departments.
One bill supporter, Colorado Rep. Andy Boesenecker, said, “It creates an opportunity to do everything from purchase, upgrade equipment, or upgrade fire stations, or be able to have bridge loans in the case of a natural disaster where we are waiting on federal funds to come across.”…