1997
HOUSE BILL 971291
BY REPRESENTATIVE Snyder;
also SENATOR Congrove.
CONCERNING MONEYS OF THE DIVISION OF CORRECTIONAL
INDUSTRIES.
Be it enacted by the General Assembly of the State
of Colorado:
SECTION 1. 1724106 (1) (j),
Colorado Revised Statutes, 1986 Repl. Vol., is amended to read:
1724106. General powers
of the division. (1) In addition
to any other powers granted to the division by this article, the
division shall have the following powers:
(j) To borrow money from the state treasury
in an amount not to exceed three million dollars pursuant to section
2475203, C.R.S., for a period of time not to exceed
ten years. All moneys borrowed, including principal and interest
not to exceed three percent,
shall be repaid in nine equal annual installments, commencing
after the first year. The threemilliondollar limit
shall include any amounts loaned to correctional industries in
supplemental appropriation bills passed prior to May 22, 1979.
SECTION 2. 1724113 (3),
Colorado Revised Statutes, 1986 Repl. Vol., is amended to read:
1724113. Business operations
and budget. (3) All revenues
collected by the division from the sale of industry goods and
services and from the transfer, sale, lease, or disposal of excess
or surplus equipment and supplies shall be transmitted to the
state treasurer, who shall credit the same to a special revolving
enterprise account designated as the correctional industries account.
ALL INTEREST DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEYS
IN THE CORRECTIONAL INDUSTRIES ACCOUNT SHALL BE CREDITED TO SAID
ACCOUNT. NO INVESTMENT EARNINGS OR OTHER MONEYS IN THE CORRECTIONAL
INDUSTRIES ACCOUNT SHALL BE SUBJECT TO THE MANAGEMENT FEE IMPOSED
PURSUANT TO SECTION 2436114, C.R.S. All moneys in
said account shall be used for the purchase of requirements necessary
for the production of industry goods and services, for the responsibilities
set forth in section 1724106.6, and for all necessary
personnel, in accordance with the annual appropriation by the
general assembly; but such account shall not exceed the requirements
of activities authorized by this article, as determined necessary
by the director, and any excess, upon order of the director, shall
be transferred to the general fund by the state treasurer.
SECTION 3. 2436114 (2),
Colorado Revised Statutes, 1988 Repl. Vol., as amended, is amended
BY THE ADDITION OF A NEW PARAGRAPH to read:
2436114. How interest earnings
credited management fee. (2) (g) THE
PROVISIONS OF THIS SUBSECTION (2) SHALL NOT APPLY TO THE SPECIAL
REVOLVING ENTERPRISE ACCOUNT DESIGNATED AS THE CORRECTIONAL INDUSTRIES
ACCOUNT IN SECTION 1724113 (3), C.R.S.
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.
____________________________ ____________________________
Charles E. Berry Tom Norton
SPEAKER OF THE HOUSE PRESIDENT OF
OF REPRESENTATIVES THE SENATE
____________________________ ____________________________
Judith M. Rodrigue Joan M. Albi
CHIEF CLERK OF THE HOUSE SECRETARY OF
OF REPRESENTATIVES THE SENATE
APPROVED________________________________________
_________________________________________
Roy Romer
GOVERNOR OF THE STATE
OF COLORADO