A Bill for an Act
Page 1, Line 101Concerning changes to the amount of money in the capital
Page 1, Line 102construction fund.
Bill Summary
(Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://leg.colorado.gov/.)
Joint Budget Committee. Under current law, all unappropriated balances in the capital construction fund (fund) and in the information technology capital account, a special account within the fund, (IT subaccount) at the close of any fiscal year must remain in the fund or the IT subaccount, respectively, and do not revert to the general fund. Additionally, all unexpended or unencumbered money from an appropriation from the fund or the IT subaccount to a state agency or state institution of higher education reverts to the fund or the IT subaccount, as applicable, at the end of the period for which the money is appropriated.
For state fiscal years commencing on or after July 1, 2025, the bill requires that the state treasurer transfer any unappropriated balances in the fund or the IT subaccount or any otherwise unexpended and unencumbered money remaining in the fund or the IT subaccount at the end of a fiscal year to the general fund. Further, the bill requires that, for state fiscal years commencing on or after July 1, 2025, all unexpended or unencumbered money from an appropriation from the fund or the IT subaccount to a state agency or state institution of higher education reverts to the general fund at the end of the period for which the money is appropriated.
The bill also requires that the following transfers be made by the state treasurer on July 1, 2025:
- $129,498,033 from the general fund to the fund;
- $500,000 from the general fund exempt account of the general fund to the fund;
- $20,557,433 from the general fund to the IT subaccount; and
- $3,230,000 from the marijuana tax cash fund to the IT subaccount.
Page 2, Line 1Be it enacted by the General Assembly of the State of Colorado:
Page 2, Line 2SECTION 1. In Colorado Revised Statutes, 24-75-302, amend
Page 2, Line 3(1)(a), (2)(tt), (2)(uu), (2.3)(o), (2.3)(p), (2.5)(r), (2.5)(s), (3.7)(a), and (13); and add (2)(vv), (2.3)(q), and (2.5)(t) as follows:
Page 2, Line 424-75-302. Capital construction fund - capital assessment fees
Page 2, Line 5- calculation - information technology capital account. (1) (a)
TherePage 2, Line 6
is hereby createdPage 2, Line 7consists of
moneysPage 2, Line 8assembly and
moneysPage 2, Line 924-30-1310.
MoneysPage 2, Line 10appropriated for capital construction, capital renewal, controlled
Page 2, Line 11maintenance, or state highway reconstruction, repair, and maintenance
Page 3, Line 1projects as requested pursuant to section 43-1-113 (2.5);
C.R.S.;Page 3, Line 2that any
moneysPage 3, Line 3state highway reconstruction, repair, and maintenance projects may only
Page 3, Line 4be appropriated for such projects. The appropriation for projects must be
Page 3, Line 5set forth in a single line item as a total sum. For state fiscal years
Page 3, Line 6commencing on or before July 1, 2024, all unappropriated balances in
Page 3, Line 7the fund at the close of any fiscal year must remain in the fund and may
Page 3, Line 8not revert to the general fund. For state fiscal years commencing on
Page 3, Line 9or after July 1, 2025, the state treasurer shall transfer any
Page 3, Line 10unappropriated balances in the fund or any otherwise
Page 3, Line 11unexpended and unencumbered money remaining in the fund at
Page 3, Line 12the end of a fiscal year to the general fund. All unexpended or
Page 3, Line 13unencumbered
moneysPage 3, Line 14appropriation to a state agency or state institution of higher education
forPage 3, Line 15
any fiscal yearPage 3, Line 16before July 1, 2024, to the capital construction fund, and, for state
Page 3, Line 17fiscal years commencing on or after July 1, 2025, to the general
Page 3, Line 18fund at the end of the period for which the
moneys arePage 3, Line 19appropriated. Except as provided in sections 2-3-1304 (1)(a.5) and
Page 3, Line 2024-30-1303.7 (1),
C.R.S.,Page 3, Line 21agency's or state institution of higher education's capital construction fund
Page 3, Line 22appropriation may be used by the state agency or the state institution of
Page 3, Line 23higher education for any additional projects that are beyond the scope or
Page 3, Line 24design of the original project without further approval by the capital
Page 3, Line 25development committee of such additional project. Anticipation warrants
Page 3, Line 26or checks may be issued against the revenues of the fund as provided by
Page 3, Line 27law. Except as provided in subsection (7) of this section, all interest
Page 4, Line 1earned from the investment of
moneysPage 4, Line 2(2) The controller shall transfer a sum as specified in this
Page 4, Line 3subsection (2) from the general fund to the capital construction fund as
Page 4, Line 4money becomes available in the general fund during the fiscal year
Page 4, Line 5beginning on July 1 of the fiscal year in which the transfer is made or on
Page 4, Line 6the date otherwise specified for the transfer. Transfers between funds
Page 4, Line 7pursuant to this subsection (2) are not appropriations subject to the
Page 4, Line 8limitations of section 24-75-201.1. The amounts transferred pursuant to this subsection (2) are as follows:
Page 4, Line 9(tt) On April 1, 2024, eighteen million nine hundred seventy-one thousand one hundred dollars;
andPage 4, Line 10(uu) On July 1, 2024, one hundred sixty-two million seven hundred seventy-eight thousand two hundred eighty-five dollars; and
Page 4, Line 11(vv) On July 1, 2025, one hundred twenty-nine million four hundred ninety-eight thousand thirty-three dollars.
Page 4, Line 12(2.3) In addition to the sums transferred pursuant to subsections
Page 4, Line 13(2) and (2.5) of this section, the state treasurer and the controller shall
Page 4, Line 14transfer a sum as specified in this subsection (2.3) from the general fund
Page 4, Line 15to the information technology capital account created in subsection (3.7)
Page 4, Line 16of this section as money becomes available in the general fund during the
Page 4, Line 17fiscal year beginning on July 1 of the fiscal year in which the transfer is
Page 4, Line 18made or on April 1 of the fiscal year if otherwise specified. Transfers
Page 4, Line 19between funds pursuant to this subsection (2.3) are not appropriations
Page 4, Line 20subject to the limitations of section 24-75-201.1. The amounts transferred pursuant to this subsection (2.3) are as follows:
Page 4, Line 21(o) On July 1, 2023, sixty-three million nine hundred thirteen thousand nine hundred eighty-eight dollars;
andPage 5, Line 1(p) On July 1, 2024, seventy million eight hundred eleven thousand three hundred thirty-four dollars; and
Page 5, Line 2(q) On July 1, 2025, twenty million five hundred fifty-seven thousand four hundred thirty-three dollars.
Page 5, Line 3(2.5) In addition to the sums transferred pursuant to subsections
Page 5, Line 4(2) and (2.3) of this section, the state treasurer and the controller shall
Page 5, Line 5transfer a sum as specified in this subsection (2.5) from the general fund
Page 5, Line 6exempt account of the general fund created pursuant to section
Page 5, Line 724-77-103.6 to the capital construction fund as money becomes available
Page 5, Line 8in the general fund exempt account during the fiscal year beginning on
Page 5, Line 9July 1 of the fiscal year in which the transfer is made. Transfers between
Page 5, Line 10funds pursuant to this subsection (2.5) are not appropriations subject to
Page 5, Line 11the limitations of section 24-75-201.1. The amounts transferred pursuant to this subsection (2.5) are as follows:
Page 5, Line 12(r) On July 1, 2023, five hundred thousand dollars;
and(s) On July 1, 2024, five hundred thousand dollars; and
Page 5, Line 13(t) On July 1, 2025, five hundred thousand dollars.
Page 5, Line 14(3.7) (a) There is
herebyPage 5, Line 15capital construction fund established pursuant to subsection (1) of this
Page 5, Line 16section to be known as the information technology capital account. The
Page 5, Line 17account consists of any money appropriated or transferred to the account
Page 5, Line 18by the general assembly. The general assembly may appropriate money
Page 5, Line 19in the account for information technology projects. The appropriation for
Page 5, Line 20information technology projects must be set forth in a single line item as
Page 5, Line 21a total sum. For state fiscal years commencing on or before July
Page 5, Line 221, 2024, all unappropriated balances in the account at the close of any
Page 6, Line 1fiscal year remain in the account and do not revert to the general fund.
Page 6, Line 2For state fiscal years commencing on or after July 1, 2025, the
Page 6, Line 3state treasurer shall transfer any unappropriated balances in
Page 6, Line 4the account or any otherwise unexpended and unencumbered
Page 6, Line 5money remaining in the account at the end of a fiscal year to the
Page 6, Line 6general fund. All unexpended or unencumbered money from an
Page 6, Line 7information technology capital account appropriation to a state agency or
Page 6, Line 8state institution of higher education
for any fiscal yearPage 6, Line 9fiscal years commencing on or before July 1, 2024, to the account,
Page 6, Line 10and, for state fiscal years commencing on or after July 1, 2025,
Page 6, Line 11to the general fund at the end of the period for which the money is
Page 6, Line 12appropriated. No portion of the unexpended balance of a state agency's or
Page 6, Line 13state institution of higher education's information technology capital
Page 6, Line 14account appropriation may be used by the state agency or the state
Page 6, Line 15institution of higher education for any additional projects that are beyond
Page 6, Line 16the scope or design of the original project without further approval by the
Page 6, Line 17joint technology committee of the additional project. Anticipation
Page 6, Line 18warrants or checks may be issued against the revenues of the account as
Page 6, Line 19provided by law. All interest earned from the investment of money in the account must remain in and become part of the account.
Page 6, Line 20(13) The fund includes money transferred pursuant to sections 24-33.5-706 (4.7), 39-28.8-501 (4.7), and 39-29-109.3 (10).
Page 6, Line 21SECTION 2. In Colorado Revised Statutes, 39-28.8-501, amend (4.7)(b); and add (4.7)(c) as follows:
Page 6, Line 2239-28.8-501. Marijuana tax cash fund - creation - distribution
Page 6, Line 23- legislative declaration - repeal. (4.7) (b) This subsection (4.7) is
Page 6, Line 24repealed, effective
July 1, 2025Page 7, Line 1(c) On July 1, 2025, the state treasurer shall transfer
Page 7, Line 2three million two hundred thirty thousand dollars from the
Page 7, Line 3fund to the information technology capital account of the capital construction fund created in section 24-75-302 (3.7)(a).
Page 7, Line 4SECTION 3. Safety clause. The general assembly finds,
Page 7, Line 5determines, and declares that this act is necessary for the immediate
Page 7, Line 6preservation of the public peace, health, or safety or for appropriations for
Page 7, Line 7the support and maintenance of the departments of the state and state institutions.