First Regular Session Sixty-sixth General Assembly STATE OF COLORADO INTRODUCED LLS NO. 07-0252.01 Jason Gelender SENATE BILL 07-044 SENATE SPONSORSHIP May R., HOUSE SPONSORSHIP (None), Senate Committees House Committees State, Veterans & Military Affairs A BILL FOR AN ACT Concerning the repayment of moneys in certain cash funds that were previously used to augment the general fund. Bill Summary (Note: This summary applies to this bill as introduced and does not necessarily reflect any amendments that may be subsequently adopted.) Specifies that it is the general assembly's intent that the moneys transferred or diverted from specified cash funds to the state general fund during the 2002 and 2003 legislative sessions be considered loans that have not yet been repaid and that must be repaid from the state general fund. Be it enacted by the General Assembly of the State of Colorado: SECTION 1. Part 2 of article 75 of title 24, Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW SECTION to read: 24-75-219. Restoration of moneys transferred to augment the general fund for the 2001-02, 2002-03, and 2003-04 fiscal years - legislative declaration. (1) Starting in March 2001, state revenues began to dramatically decline, creating budget shortfalls in the 2001-02, 2002-03, and 2003-04 state fiscal years. During the 2002 and 2003 legislative sessions, the general assembly enacted various measures intended to address the budget shortfalls and reduce the budgets for those fiscal years. As a way to address the budget shortfalls, the general assembly enacted bills requiring the transfer or diversion of moneys from various cash funds specified in subsection (2) of this section to the general fund. Except as otherwise provided in subsections (3) and (4) of this section, it is the intent of the general assembly to consider the transfers and diversions from the cash funds to the general fund as loans from those cash funds that have not yet been repaid and must be repaid from the general fund. (2) Pursuant to bills enacted during the 2002 and 2003 legislative sessions, moneys in the following cash funds were transferred or diverted to the general fund: (a) The auto dealers license fund created in section 12-6-123 (1), C.R.S.; (b) The department of state cash fund created in section 24-21-104 (3) (b); (c) The employment support fund created in section 8-77-109 (1), C.R.S.; (d) The major medical insurance fund created in section 8-46-202 (1) (a), C.R.S.; (e) The off-highway vehicle recreation fund created in section 33-14.5-106 (1), C.R.S.; (f) The public utilities commission motor carrier fund created in section 40-2-110.5 (6), C.R.S.; (g) The real estate recovery fund created in section 12-61-301, C.R.S., as said section existed prior to its repeal in 2005; (h) The subsequent injury fund created in section 8-46-101 (1) (b) (I), C.R.S.; (i) The trade name registration fund created in section 24-35-301 (3) (a), as said section existed prior to its repeal in 2006; (j) The unemployment compensation fund created in section 8-77-101 (1) (a), C.R.S.; and (k) The workers' compensation cash fund created in section 8-44-112 (7) (a), C.R.S. (3) Because the real estate recovery fund was abolished and its balance transferred to the division of real estate cash fund created in section 12-61-111.5 (2) (b), C.R.S., by the repeal of section 12-61-301, C.R.S., and the enactment of section 12-61-302 (11), C.R.S., pursuant to House Bill 05-1264, enacted at the first regular session of the sixty-fifth general assembly, it is the intent of the general assembly to consider the transfer from the real estate recovery fund to the general fund referenced in paragraph (g) of subsection (2) of this section as a loan from the division of real estate cash fund that must be repaid from the general fund. (4) Because the trade name registration fund was abolished by the repeal of part 3 of article 35 of this title pursuant to House Bill 04-1448, enacted at the second regular session of the sixty-fourth general assembly, and its balance was not transferred to any other cash fund, the transfer from the trade name registration fund to the general fund referenced in paragraph (i) of subsection (2) of this section need not be repaid from the general fund. SECTION 2. Safety clause. The general assembly hereby finds, determines, and declares that this act is necessary for the immediate preservation of the public peace, health, and safety.