Colorado just turned into a payday lender for itself. This bill lets the state sell up to $125 million in future tax credits (think affordable housing, historic preservation, job-growth credits) to big investors right now for 80 cents on the dollar—pocketing an instant $100 million cash windfall in FY 2025-26 to plug the budget hole. Translation: the state is borrowing against tomorrow’s tax breaks today, then we’ll owe the full $125 million later when companies actually use those credits. It’s like maxing out a credit card to pay the electric bill, except the interest is paid by future taxpayers. Democrats call it “creative cash-flow management”; everyone else calls it “kicking the can down the road while pretending it’s not a tax hike.” Signed into law August 2025, because nothing says fiscal responsibility like selling your kids’ lunch money.