NOTE:  This bill has been prepared for the signature of the appropriate legislative
officers and the Governor.  To determine whether the Governor has signed the bill
or taken other action on it, please consult the legislative status sheet, the legislative
      history, or the Session Laws.
      
      
      HOUSE BILL 10-1325
      
      
      BY REPRESENTATIVE(S) Lambert, Pommer, Ferrandino;
      also SENATOR(S) White, Keller, Tapia.
      
      
      Concerning the transfer of interest earned by certain settlement
           moneys in the natural resource damage recovery fund.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  25-16-104.7, Colorado Revised Statutes, is amended
      BY THE ADDITION OF A NEW SUBSECTION to read:
      
           25-16-104.7.  Natural resource damage recoveries - fund created
      - repeal.  (4) (a)  Notwithstanding any other provision of law and
      except as provided in paragraph (b) of this subsection (4), on June
      30, 2010, and each June 30 thereafter, the state treasurer shall:
      
           (I)  Deduct an amount equal to sixty-two and three-tenths
      percent of the interest earned on those moneys in the natural
      resource damage recovery fund that were received in the
      settlement reached in the case denominated State of Colorado v.
      United States of America, Shell Oil Company, et al., Case No. 83 CV
      2386, in the United States district court for the district of
      Colorado, and shall transfer such amount to the hazardous
      substance response fund created in section 25-16-104.6; and
      
           (II)  Deduct an amount equal to thirty-seven and
      seven-tenths percent of the interest earned on those moneys in the
      natural resource damage recovery fund that were received in the
      settlement reached in the case denominated State of Colorado v.
      United States of America, Shell Oil Company, et al., Case No. 83 CV
      2386, in the United States district court for the district of
      Colorado, and shall transfer such amount to the general fund.
      
           (b)  The state treasurer shall continue to make the transfer
      specified in subparagraph (I) of paragraph (a) of this subsection (4)
      until the total amount transferred to the hazardous substance
      response fund equals one million six hundred fifty-seven thousand
      five hundred seventy-seven dollars, at which time the state
      treasurer shall cease the transfers.  The state treasurer shall
      continue to make the transfer specified in subparagraph (II) of
      paragraph (a) of this subsection (4) until the total amount
      transferred to the general fund reaches one million four
      thousand eight hundred seventy-three dollars, at which time the
      state treasurer shall cease the transfers.
      
           (c)  This subsection (4) is repealed, effective July 1, 2017.
      
           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.
      
      
      
      
      ________________________________________________________
      Terrance D. Carroll                Brandon C. Shaffer
      SPEAKER OF THE HOUSE                     PRESIDENT OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
      
      
      ____________________________  ____________________________
      Marilyn Eddins                          Karen Goldman
      CHIEF CLERK OF THE HOUSE                 SECRETARY OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    Bill Ritter, Jr.
                                    GOVERNOR OF THE STATE OF COLORADO