NOTE: The governor signed this measure on 3/8/2013.
      
      
      SENATE BILL 13-109
      
      
      BY SENATOR(S) Lambert, Hodge, Steadman;
      also REPRESENTATIVE(S) Duran, Levy, Gerou, Exum, Fields, Ginal,
      Melton, Rosenthal, Williams, Young.
      
      
      Concerning indirect cost recovery from programs, and, in
           connection therewith, establishing an indirect costs excess
           recovery fund and departmental accounts within the fund
           for the purpose of allowing departments of state
           government to use moneys collected as payment for
           indirect costs over multiple fiscal years.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, add part 14 to article
      75 of title 24 as follows:
      
                             PART 14
               INDIRECT COSTS EXCESS RECOVERY FUND
      
           24-75-1401. Indirect costs excess recovery fund - creation -
      departmental accounts - use of fund - definitions. (1)  As used in this
      section, unless the context otherwise requires:
      
           (a)  "Indirect costs" means the indirect cost assessment line
      items in the annual general appropriation act that represent
      expected collections of statewide and departmental indirect
      costs from cash funded, reappropriated funded, or federal funded
      programs for the purpose of paying departmental or statewide
      overhead costs as allocated to those programs in the annual
      general appropriation act.
      
           (b)  "State agency" or "agency" means any board, bureau,
      commission, department, institution, division, section, or officer of
      the state except those within the department of higher education
      designation in the annual general appropriation act.
      
           (2)  The indirect costs excess recovery fund is created in the
      state treasury. A separate account for each principal department
      of state government other than the department of higher
      education is created within the fund. Before the close of the
      state's accounting system each fiscal year, the state treasurer
      shall credit all moneys collected by a state agency for indirect
      costs for the fiscal year in excess of the actual amount expended
      during the fiscal year to the account for the department that
      includes the agency. The state treasurer shall credit all interest
      and income earned on the deposit and investment of moneys in any
      account of the fund to the account.
      
           (3)  Each account of the indirect costs excess recovery fund
      is subject to annual appropriation for indirect costs by its
      corresponding department for the sole purpose of paying any
      indirect costs incurred by agencies within the department during
      a fiscal year that exceed their actual indirect cost collections
      for the fiscal year.
      
           (4)  No later than November 1, 2013, and no later than each
      November 1 thereafter, the state controller shall report to the
      joint budget committee of the general assembly regarding the
      revenues, expenditures, and balance of each account of the
      indirect costs excess recovery fund as of June 30 of the prior
      fiscal year.
      
           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.
      
      
      
      
      ____________________________  ____________________________
      John P. Morse                         Mark Ferrandino
      PRESIDENT OF                     SPEAKER OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
      
      
      ____________________________  ____________________________
      Cindi L. Markwell                      Marilyn Eddins
      SECRETARY OF                 CHIEF CLERK OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO