The act requires the office of just transition (office) in the department of labor and employment to prioritize awarding funding to support tier one and tier 2 coal transition communities experiencing socioeconomic impacts of coal closures and for opportunities for economic diversification, local community input, feasibility studies of specific proposed projects, and needs assessments. The office is required to use money appropriated to the just transition cash fund after July 1, 2025, to support programs that support targeted investment in coal transition communities by collaborating with coal transition communities and eligible entities, state and regionally recognized governmental and economic development entities, employee organizations that represent coal transition workers, and workers who are not affiliated with employee organizations to implement the most effective projects and programs for those communities. The act requires the office to annually report to the joint budget committee and at the annual "State Measurement for Accountable, Responsive, and Transparent (SMART) Government Act" hearings of the senate local government and housing committee and the house transportation, housing, and local government committee about the grants awarded by the office during the preceding state fiscal year, their recipients, and the purpose for which they were awarded. A public entity may invest public funds only as allowed by law. The act specifies that the investment of a payment or settlement to offset the socioeconomic impacts to a community or government from the closure of a coal mine or coal power generating station is not subject to these investment limitations. The act allows the executive director of the department of local affairs to establish a policy preference for awarding up to 70% of the money credited to the local government severance tax fund to just transition communities for a 3-year period beginning January 1, 2026. The act extends the deadline for the submittal by the director of the Colorado energy office of the findings and conclusions of assessments of advanced energy solutions in the northwestern and west end of Montrose county and in southeastern Colorado from July 1, 2025 to December 19, 2025, and makes the requirement that the findings and conclusion be submitted contingent on the director having sufficient federal money to support the submittal. (Note: This summary applies to this bill as enacted.)