NOTE: The governor signed this measure on 5/11/2015.
      
      
      HOUSE BILL 15-1280
      
      
      BY REPRESENTATIVE(S) Young, Hamner, Rankin, Becker K., Brown,
      Vigil, Duran, Fields, Lontine, Pettersen, Rosenthal, Salazar, Ryden, Tyler,
      Williams;
      also SENATOR(S) Grantham, Lambert, Steadman, Baumgardner, Kefalas,
      Sonnenberg, Crowder, Martinez Humenik, Roberts, Scott.
      
      
      Concerning the creation of a capital reserve in certain cash
           funds.
       
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, add 24-75-403 as
      follows:
      
           24-75-403.  Capital reserve - creation - annual appropriation -
      definitions. (1)  As used in this section:
      
           (a)  "Capital construction" has the same meaning as set
      forth in section 24-30-1301 (2).
      
           (b)  "Capital outlay" has the same meaning as set forth in
      section 24-75-112 (1) (a).
      
           (c)  "Capital renewal" has the same meaning as set forth in
      section 24-30-1301 (3).
      
           (d)  "Cash fund" means any fund established by law for a
      specific program or purpose; except that "cash fund" does not
      include the state general fund created by section 24-75-201, the
      lottery fund created in section 24-35-210, the highway users tax
      fund created in section 43-4-201, C.R.S., or the limited gaming fund
      created in section 12-47.1-701 (1), C.R.S.
      
           (e)  "Controlled maintenance" has the same meaning as set
      forth in section 24-30-1301 (4).
      
           (f)  "Depreciation" means an amount calculated in
      accordance with generally accepted accounting principles.
      
           (g)  "Depreciation period" means a period determined in fiscal
      procedures issued by the state controller.
      
           (2)  For each cash fund from which moneys are appropriated
      for capital outlay or capital construction, the principal
      department responsible for the accounting related to the fund
      shall identify in the fund balance report a capital reserve, which
      consists of an amount equal to the depreciation of the depreciable
      components of the capital outlay or the capital construction,
      based on the depreciation period.
      
           (3)  Any uncommitted capital reserves at the end of a fiscal
      year may be used for capital outlay, capital construction, capital
      renewal, or controlled maintenance, subject to an appropriation
      in the annual general appropriation act. This appropriation
      requirement applies even if the moneys in the fund are otherwise
      continuously appropriated.
      
           SECTION 2.  In Colorado Revised Statutes, 24-30-207, amend (3)
      as follows:
      
           24-30-207.  Reports of revenue and expenditures. (3)  For the
      1997-98 fiscal year and for each fiscal year thereafter, the controller shall
      prepare a report for the state ascertaining the amount of uncommitted
      reserves, as defined in section 24-75-402 (2) section 24-75-402 (2) (h),
      credited to each state cash fund, as defined by section 24-75-402 (2) (b).
      The state controller shall include in the report the amount of
      the capital reserve that is excluded from the definition of
      "uncommitted reserves" in accordance with section 24-75-402 (2)
      (h) (I). Such report shall be audited by The state auditor shall audit such
      report. Such report shall must be delivered to the office of state planning
      and budgeting and to the joint budget committee of the general assembly on
      or before September 20 of each year.
      
           SECTION 3.  In Colorado Revised Statutes, 24-30-1108, repeal (6)
      (a) (I) as follows:
      
           24-30-1108.  Revolving fund - service charges - pricing policy.
      (6) (a) (I)  For the 2013-14 fiscal year and each fiscal year thereafter, the
      alternative target reserve for purposes of section 24-75-402 for the
      department of personnel revolving fund will be sixteen and five-tenths
      percent of the amount expended from the fund during a fiscal year, plus any
      balance identified in the capital outlay reserve.
      
           SECTION 4.  In Colorado Revised Statutes, 24-75-402, amend (2)
      (h) (I) as follows:
      
           24-75-402.  Cash funds - limit on uncommitted reserves -
      reduction in amount of fees - exclusions. (2)  For purposes of this section,
      unless the context otherwise requires:
      
           (h)  "Uncommitted reserves" means the fund balance of a cash fund
      as of June 30 of any fiscal year, minus the following:
      
           (I)  Any long-term assets credited to the cash fund, including a
      capital reserve identified in accordance with section 24-75-403;
      
           SECTION 5.  Applicability. This act applies to fiscal years that
      begin on or after July 1, 2014.
      
           SECTION 6.  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.
      
      
      
      
      ________________________________________________________
      Dickey Lee Hullinghorst                Bill L. Cadman
      SPEAKER OF THE HOUSE                     PRESIDENT OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
      
      
      ____________________________  ____________________________
      Marilyn Eddins                      Cindi L. Markwell
      CHIEF CLERK OF THE HOUSE                 SECRETARY OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO