Click here for Fiscal Note

Second Regular Session

Sixty-first General Assembly

LLS NO. 98­0649.01 GWF SENATE BILL 98­146

STATE OF COLORADO

BY SENATOR Feeley

TRANSPORTATION

A BILL FOR AN ACT

CONCERNING THE RETENTION OF A PORTION OF STATE REVENUES IN EXCESS OF THE CONSTITUTIONAL LIMITATION ON STATE FISCAL YEAR SPENDING FOR THE PURPOSE OF TRANSFERRING MONEYS TO THE HIGHWAY USERS TAX FUND.

Bill Summary

(Note: This summary applies to this bill as introduced and does not necessarily reflect any amendments that may be subsequently adopted.)

Defines "excess revenues" as the amount of state revenues in excess of the state fiscal year spending limitation for that fiscal year as prescribed by section 20 of article X of the state constitution.

Requires transfers on January 31, 1999, November 1, 1999, and each November 1 thereafter from the general fund in an amount equal to 1/3rd of the excess revenues for the preceding fiscal year to the highway users tax fund.

Specifies that such transfers are not appropriations subject to state appropriation limits. Specifies that the excess revenues transferred to the highway users tax fund shall not be included in either state or local government constitutional spending limits.

Refers the act to the voters for approval at the 1998 general election.

Be it enacted by the General Assembly of the State of Colorado:

SECTION 1.  Part 2 of article 75 of title 24, Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW SECTION to read:

24­75­216.  Excess revenues ­ transfer ­ highway users tax fund. (1)  FOR PURPOSES OF THIS SECTION, UNLESS THE CONTEXT OTHERWISE REQUIRES, "EXCESS REVENUES" MEANS THE AMOUNT OF STATE REVENUES FOR A PARTICULAR STATE FISCAL YEAR FROM SOURCES NOT EXCLUDED FROM STATE FISCAL YEAR SPENDING THAT IS IN EXCESS OF THE STATE FISCAL YEAR SPENDING LIMITATION PRESCRIBED BY SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION FOR THAT FISCAL YEAR.

(2)  THE STATE CONTROLLER AND THE STATE AUDITOR SHALL JOINTLY NOTIFY THE STATE TREASURER OF THE AMOUNT OF EXCESS REVENUES NO LATER THAN TEN DAYS PRIOR TO THE DATE OF ANY TRANSFER REQUIRED BY THIS SECTION.

(3)  NO TRANSFER SHALL BE REQUIRED UNDER THIS SECTION IF THERE ARE NO EXCESS REVENUES FOR THE FISCAL YEAR.

(4)  ON JANUARY 31, 1999, THE STATE TREASURER SHALL TRANSFER FROM THE GENERAL FUND AN AMOUNT EQUAL TO ONE­THIRD OF THE EXCESS REVENUES FOR THE 1997­98 FISCAL YEAR TO THE HIGHWAY USERS TAX FUND CREATED IN SECTION 43­4­201, C.R.S., TO BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 43­4­205 (6) (b) C.R.S.

(5)  ON NOVEMBER 1, 1999, AND ON NOVEMBER 1 OF EACH SUCCEEDING YEAR, THE STATE TREASURER SHALL TRANSFER FROM THE GENERAL FUND AN AMOUNT EQUAL TO ONE­THIRD OF THE EXCESS REVENUES FOR THE PRECEDING FISCAL YEAR TO THE HIGHWAY USERS TAX FUND CREATED IN SECTION 43­4­201, C.R.S., TO BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 43­4­205 (6) (b), C.R.S.

(6)  ANY TRANSFER OF REVENUES FROM THE GENERAL FUND MADE PURSUANT TO THIS SECTION SHALL NOT BE DEEMED TO BE AN APPROPRIATION SUBJECT TO THE LIMITATIONS OF SECTION 24­75­201.1.

(7)  EXCESS REVENUES TRANSFERRED TO THE HIGHWAY USERS TAX FUND PURSUANT TO THIS SECTION SHALL NOT BE INCLUDED IN EITHER STATE OR LOCAL GOVERNMENT FISCAL YEAR SPENDING FOR PURPOSES OF SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION AND SECTION 24­77­102 (17), SINCE VOTER APPROVAL OF THIS SECTION PURSUANT TO SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION CONSTITUTES VOTER APPROVAL FOR BOTH THE STATE AND ALL SCHOOL DISTRICTS.

SECTION 2.  Refer to people under referendum.  This act shall be submitted to a vote of the registered electors of the state of Colorado at the next biennial regular general election, for their approval or rejection, under the provisions of the referendum as provided for in section 1 of article V and section 20 of article X of the state constitution, and in article 40 of title 1, Colorado Revised Statutes. Each elector voting at said election and desirous of voting for or against said act shall cast a vote as provided by law either "Yes" or "No" on the proposition: "FOR THE PURPOSE OF MAKING FUNDS AVAILABLE TO STATE AND LOCAL GOVERNMENTS FOR THE CONSTRUCTION, MAINTENANCE, AND SUPERVISION OF THE PUBLIC HIGHWAYS OF THIS STATE, SHALL THE STATE OF COLORADO BE PERMITTED TO ANNUALLY RETAIN AN AMOUNT EQUAL TO ONE­THIRD OF THE REVENUES IN EXCESS OF THE CONSTITUTIONAL LIMITATION ON STATE SPENDING FOR THE 1997­98 FISCAL YEAR AND FOR EACH FISCAL YEAR THEREAFTER, NOTWITHSTANDING ANY RESTRICTION ON FISCAL YEAR SPENDING, INCLUDING WITHOUT LIMITATION THE RESTRICTIONS OF SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION, AND, IN CONNECTION THEREWITH, TO SPECIFY THAT SUCH TRANSFERS ARE NOT SUBJECT TO ANY STATE CONSTITUTIONAL OR STATUTORY RESTRICTION OR LIMITATION ON FISCAL YEAR SPENDING OR APPROPRIATIONS?" The votes cast for the adoption or rejection of said act shall be canvassed and the result determined in the manner provided by law for the canvassing of votes for representatives in Congress.