2016 Colorado Revised Statutes
Title 39 - Taxation
Specific Taxes
Article 28.8 - Taxes on Marijuana and Marijuana Products
Part 6 - Ballot Issue Related to Proposition Aa Refunds - Permitted Uses
§ 39-28.8-602. Proposition AA blue book - potential refund
(1) (a) A refund of state revenues may be required if, for the fiscal year 2014-15, fiscal year spending is greater than twelve billion eighty million dollars or if the revenue from retail marijuana taxes is greater than sixty-seven million dollars. The amount of the potential refund is equal to the combined amount by which fiscal year spending and retail marijuana taxes exceed these amounts, or the actual amount of the revenue from retail marijuana taxes for the fiscal year 2014-15, whichever is less.
(b) The calculation to determine if there is a proposition AA blue book refund is based on the audited financial report prepared in accordance with section 24-77-106.5, C.R.S., and the actual revenue from retail marijuana taxes received by the department.
(2) If the calculation set forth in subsection (1) of this section indicates that a proposition AA blue book refund is required under section 20 (3) (c) of article X of the state constitution, then a refund shall be made in accordance with sections 39-28.8-202 (1) (a) (III) and 39-28.8-605 (3) and (4), unless the voters approve the ballot issue.
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