2016 Colorado Revised Statutes
Title 24 - Government - State
State Funds
Article 75 - State Funds
Part 2 - General Fund
§ 24-75-219. Transfers - transportation - capital construction - definitions

(1) As used in this section, unless the context otherwise requires:

(a) "Capital construction fund" means the capital construction fund created in section 24-75-302.

(b) Repealed.

(c) "Funds" means the highway users tax fund and the capital construction fund.

(d) "Highway users tax fund" means the highway users tax fund created in section 43-4-201, C.R.S.

(e) and (f) Repealed.

(2) (a) On June 30, 2016, the state treasurer shall transfer:

(I) One hundred ninety-nine million two hundred thousand dollars from the general fund to the highway users tax fund; and

(II) Forty-nine million eight hundred thousand dollars from the general fund to the capital construction fund.

(b) On June 30, 2017, the state treasurer shall transfer:

(I) One hundred fifty-eight million dollars from the general fund to the highway users tax fund; and

(II) Fifty-two million seven hundred thousand dollars from the general fund to the capital construction fund.

(c) For each state fiscal year from state fiscal year 2017-18 through the state fiscal year 2019-20, the state treasurer shall transfer from the general fund to the:

(I) Highway users tax fund, an amount equal to two percent of the total general fund revenues for the state fiscal year in which the transfer is made; and

(II) Capital construction fund, an amount equal to one percent of the total general fund revenues for the state fiscal year in which the transfer is made.

(d) For each state fiscal year beginning on or after July 1, 2020, the general assembly may appropriate or transfer, in its sole discretion, moneys from the general fund to the highway users tax fund, the capital construction fund, or both funds.

(e) Repealed.

(3) (a) Repealed.

(b) Except as otherwise set forth in subsection (4) of this section, the transfers required pursuant to paragraph (c) of subsection (2) of this section shall be made as follows:

(I) On the fifteenth day of the first month of each quarter of each state fiscal year in which the transfers are required, an amount equal to twenty percent of the total amounts that are required to be transferred to the highway users tax fund and the capital construction fund for such state fiscal year, which amounts shall be based on the most recent revenue estimate prepared by legislative council staff that is available at the time of the transfers, shall be transferred to the respective funds.

(II) On the date during the state fiscal year on which the state controller distributes the comprehensive annual financial report of the state, the state treasurer shall transfer an amount equal to the differences between the actual amounts required to be transferred to the funds and the estimated amounts previously transferred pursuant to subparagraph (I) of this paragraph (b).

(4) (a) For any state fiscal year for which there are excess state revenues that are required to be refunded pursuant to section 20 of article X of the state constitution, the quarterly and year-end amounts that are required to be transferred to the funds pursuant to paragraph (b) of subsection (3) of this section shall:

(I) Be reduced by fifty percent, if the amount of the refund is greater than one percent of the general fund revenues for the state fiscal year but less than or equal to three percent of the total general fund revenues for the state fiscal year; and

(II) Not be made, if the amount of the refund is greater than three percent of the total general fund revenues for the state fiscal year.

(b) The calculations required pursuant to paragraph (a) of this subsection (4) shall be based on the most recent revenue estimate prepared by the legislative council staff that is available at the time of each transfer; except that the last transfer made for each state fiscal year shall be based on the actual revenues for the state fiscal year.