- Stage
- Became law
- Started in
- House
- Sponsors
- 4
- Latest action
- Jun 24, 2021
What it does
The state controller is required to prescribe a unified system of accounts and prepare financial statements based on systems set forth by the governmental accounting standards board (GASB). Statement number 87 by GASB, which affects state and local government fiscal years after June 15, 2021, requires that a contract that transfers ownership of an asset be accounted for and reported as a financed purchase or sale of an asset, regardless of whether the contract is labeled by the parties as a lease.Effective July 1, 2021, the act replaces the term "lease-purchase agreement", and, as necessary to effectuate the purpose of the act, substantially similar terms, with "financed purchase of an…
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
Once a bill is decided, the questions are about what is done with it in Colorado.