Colorado HB 20-1406: Cash Fund Transfers To The General Fund

Bill Text

HB1406_S_APP.001
SENATE COMMITTEE OF REFERENCE REPORT
_______________________________ June 11, 2020
Chair of Committee Date
Committee on Appropriations.
After consideration on the merits, the Committee recommends the
following:
HB20-1406 be amended as follows, and as so amended, be referred to
the Committee of the Whole with favorable
recommendation:
Amend reengrossed bill, page 3, line 1, after "add" insert "(7.5) and".1
Page 3, line 5, strike "(9) (e)" and substitute:2
"(7.5) IN ADDITION TO THE SOURCES IDENTIFIED IN SUBSECTION (1) OF3
THIS SECTION, THE PETROLEUM STORAGE TANK FUND INCLUDES THE4
AMOUNT TRANSFERRED FROM THE PETROLEUM CLEANUP AND5
REDEVELOPMENT FUND IN ACCORDANCE WITH SUBSECTION (9)(e)(II) OF6
THIS SECTION. ON OCTOBER 15, AND THE FIFTEENTH DAY OF EACH OF THE7
NEXT SEVEN MONTHS, THE STATE TREASURER SHALL TRANSFER FIVE8
HUNDRED THOUSAND DOLLARS FROM THE PETROLEUM STORAGE TANK9
FUND TO THE GENERAL FUND. THESE TRANSFERS ARE REPAYMENT FOR THE10
TRANSFER FROM THE PETROLEUM CLEAN UP AND REDEVELOPMENT FUND,11
AS THE ORIGINAL AMOUNT TRANSFERRED WOULD HAVE OTHERWISE12
TRANSFERRED TO THE GENERAL FUND.13
(9) (e) (I)".14
Page 3, line 7, strike "SEVEN HUNDRED THOUSAND".15
Page 3, after line 8 insert:16
"(II) NOTWITHSTANDING ANY OTHER PROVISION OF THIS SECTION,17
ON THE EFFECTIVE DATE OF THIS SUBSECTION (9)(e)(II), THE STATE18
TREASURER SHALL TRANSFER FOUR MILLION DOLLARS FROM THE19
REDEVELOPMENT FUND TO THE PETROLEUM STORAGE TANK FUND20
*HB1406_S_APP.001*

CREATED IN SUBSECTION (1) OF THIS SECTION.".1
Page 9, after line 2 insert:2
"SECTION 20. In Colorado Revised Statutes, 33-14.5-106, add3
(4) as follows:4
33-14.5-106. Off-highway vehicle recreation fund - creation -5
use of money. (4) NOTWITHSTANDING SUBSECTION (1) OF THIS SECTION,6
ON JUNE 30, 2020, THE STATE TREASURER SHALL TRANSFER FIVE MILLION7
DOLLARS FROM THE OFF-HIGHWAY VEHICLE RECREATION FUND TO THE8
GENERAL FUND.9
SECTION 21. In Colorado Revised Statutes, 34-63-102, amend10
(5.3)(a) introductory portion; and add (5.3)(a)(I)(F) as follows:11
34-63-102. Creation of mineral leasing fund - distribution -12
advisory committee - local government permanent fund created -13
definitions - transfer of money. (5.3) (a) Bonus payments credited to14
the mineral leasing fund created in subparagraph (II) of paragraph (a) of15
subsection (1) SUBSECTION (1)(a)(II) of this section shall be distributed on16
a quarterly basis for each quarter commencing on July 1, October 1,17
January 1, or April 1 of any state fiscal year as follows:18
(I) (F) NOTWITHSTANDING ANY OTHER PROVISION OF THIS19
SECTION, THE STATE TREASURER SHALL TRANSFER TWO MILLION THREE20
HUNDRED THOUSAND DOLLARS FROM THE LOCAL GOVERNMENT21
PERMANENT FUND TO THE GENERAL FUND.".22
Renumber succeeding sections accordingly.23
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*HB1406_S_APP.001* -2-