HOUSE
                       3rd Reading Unamended
       April 15, 2015          HOUSE
       Amended 2nd Reading
                      April 14, 2015First Regular Session
               Seventieth General Assembly
                    STATE OF COLORADO
                                                REENGROSSED
                       This Version Includes All Amendments
                       Adopted in the House of Introduction
 LLS NO. 15-0347.01 Ed DeCecco x4216     HOUSE BILL 15-1100
                    HOUSE SPONSORSHIP
 Lebsock and Roupe,  Ginal, Melton, Winter, Danielson, Rosenthal, Garnett, Esgar,
 Lontine, Primavera
 
                   SENATE SPONSORSHIP
 Crowder and Ulibarri,  Aguilar, Kefalas, Guzman
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 House Committees
 Senate Committees
 
 
 Finance
 
 
 
 Appropriations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning an increase in the amount of the net revenue
            from the state sales and use tax that is credited to the
            older Coloradans cash fund, and, in connection
            therewith, making and reducing appropriations.
       
       
                           Bill Summary
       
            (Note:  This summary applies to this bill as introduced and does
       not reflect any amendments that may be subsequently adopted. If this bill
       passes third reading in the house of introduction, a bill summary that
       applies to the reengrossed version of this bill will be available at
       http://www.leg.state.co.us/billsummaries.)
       
            The state constitution requires 85% of the net revenue from the
       state sales and use tax to be credited to the old age pension fund, and most
       of this revenue is then transferred to the general fund. The remaining 15%
       of the net revenue is credited to the general fund; except that $10 million
       is credited to the older Coloradans cash fund. Beginning with the next
       fiscal year, the bill increases the net revenue that is credited to the older
       Coloradans cash fund by $4 million, which proportionally decreases the
       allocation to the general fund.
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  In Colorado Revised Statutes, 39-26-123, amend
       (3) as follows:
            39-26-123.  Receipts - disposition - transfers of general fund
       surplus - sales tax holding fund - creation - definitions - repeal.
       (3) (a)  For any state fiscal year commencing on or after July 1, 2013
       July 1, 2015, the state treasurer shall credit eighty-five percent of all net
       revenue collected under the provisions of this article to the old age
       pension fund created in section 1 of article XXIV of the state constitution.
       The state treasurer shall credit to the general fund the remaining fifteen
       percent of the net revenue, less ten million dollars the amount specified
       in paragraph (b) of this subsection (3), which the state treasurer shall
       credit to the older Coloradans cash fund created in section 26-11-205.5
       (5), C.R.S.
            (b)  For the fiscal years 2015-16, 2016-17, and 2017-18, the
       amount credited to the older Coloradans cash fund is twelve
       million dollars. For the fiscal year 2018-19 and all fiscal years
       thereafter, the amount credited to the fund is ten million
       dollars.
            SECTION 2.  Appropriation - adjustments to 2015 long bill.
       (1)  To implement this act, appropriations made in the annual general
       appropriation act for the 2015-16 state fiscal year to the department of
       human services are adjusted as follows:
            (a)  The general fund appropriation for state funding for senior
       services is decreased by $2,000,000;
            (b)  The cash funds appropriation from the  older Coloradans cash
       fund created in section 26-11-205.5, (5) (a), C.R.S., for  state funding for
       senior services is increased by $2,000,000.
            SECTION 3.  Effective date. This act takes effect July 1, 2015.
            SECTION 4.  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.