Denver bill would rename college fund and cap administrative spending

A Denver bill would rename the Denver College Affordability Fund the Prosperity Denver Fund and cap administrative spending by the city and the nonprofit that administers it.

The bill would cap the nonprofit’s administrative expenses at 5% of the annual tax revenue it receives. It would cap the city’s administrative expenses paid from the fund at 1% of the fund’s annual revenue. The limits use different revenue bases. Administrative expenses include staff, office expenses, contractors, reporting and routine business costs. The filed bill also bars administrative spending on alcohol, regulated marijuana and tobacco. It generally bars meals, light refreshments, beverages and related services, with an exception for qualifying non-routine events that benefit the organization.

The fund is supported by a voter-approved 0.08% sales and use tax, which the bill would keep in place through Dec. 31, 2030. The proposal retains the fund’s purpose of supporting postsecondary enrollment and completion for Denver residents, including scholarships and student support, high-school support and certificate programs. The caps would not guarantee that more revenue goes to those programs; the bill sets no minimum or fixed share for them.

The bill’s effective-date clause specifies Jan. 1, 2027, for Section 1 and gives no separate date for the other sections. Denver’s Legistar matter record showed the bill in “Approval Review” as of its Sept. 23 update. Its action history lists committee approval for filing by consent on Sept. 15; it does not list later council passage or adoption.