(1) Collegeinvest shall constitute an enterprise for the purposes of section 20 of article X of the state constitution, so long as collegeinvest retains the ability to issue revenue bonds and receives less than ten percent of its total annual revenues in grants, as defined in section 24-77-102 (7), C.R.S., from all Colorado state and local governments combined. So long as it constitutes an enterprise pursuant to this subsection (1), collegeinvest shall not be subject to any provisions of section 20 of article X of the state constitution. Agreements between collegeinvest and the student loan division in the department of higher education for the guarantee of payment of student loans are not grants for purposes of the definition of enterprise under section 20 (2)(d) of article X of the state constitution.
(2) For purposes of part 2 of article 72 of title 24, C.R.S., the records of collegeinvest and the board shall be public records, as defined in section 24-72-202 (6), C.R.S., except to the extent otherwise specified by law, regardless of whether collegeinvest and the board constitute an enterprise pursuant to subsection (1) of this section.
Source: L. 2000: Entire section added, p. 1274, § 6, effective May 26. L. 2004: Entire section amended, p. 565, § 12, effective July 1.