BY SENATOR(S) Amabile and Kirkmeyer, Bridges;
also REPRESENTATIVE(S) Bird and Taggart, Sirota, Carter.
Concerning the balances of inactive cash funds.
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. In Colorado Revised Statutes, add 24-75-404 as follows:
24-75-404. Repealed cash funds - unused cash funds. (1) Unless otherwise provided by law, on June 30, 2025, and on each June 30 thereafter, the office of the state controller shall transfer the balance of any repealed cash fund to the general fund.
(2) On or before November 1, 2025, and each November 1 thereafter, the office of the state controller shall submit a report to the joint budget committee of the general assembly that:
(a) Identifies any cash fund that has been inactive, other than the crediting of interest and income from the deposit of money in the cash fund, for the immediately preceding two state fiscal years and the balance of those funds; and
(b) Identifies the total amount that the state controller transferred to the general fund in the preceding state fiscal year pursuant to subsection (1) of this section.
SECTION 2. Safety clause. The general assembly finds, determines, and declares that this act is necessary for the immediate preservation of the public peace, health, or safety or for appropriations for the support and maintenance of the departments of the state and state institutions.
Signed By: James Rashad Coleman, Sr., President of the Senate
Signed By: Julie McCluskie, Speaker of the House of Representatives
Signed By: Esther van Mourik, Secretary of the Senate
Signed By: Vanessa Reilly, Chief Clerk of the House of Representatives
Signed By: Jared S. Polis, Governor of the State of Colorado