Second Regular Session
Sixty-first General Assembly
LLS NO. 980457.01D SLE
SENATE BILL 98170
STATE OF COLORADO
BY SENATOR Norton;
also REPRESENTATIVE Anderson.
TRANSPORTATION
A BILL FOR AN ACT
CONCERNING INCREASED FUNDING FOR TRANSPORTATION NEEDS
IN THE STATE OF COLORADO.
Bill Summary
(Note: This summary applies to this bill as introduced
and does not necessarily reflect any amendments that may be subsequently
adopted.)
For the 199899 fiscal year, and for each of the 4 succeeding fiscal years thereafter, makes an additional transfer of revenues to the capital construction fund to be distributed for state and local transportation construction, reconstruction, repair, and maintenance projects. Specifies the distribution of the moneys transferred between counties, municipalities, and the state. Requires the transportation commission to submit annual capital construction requests to the capital development committee of the general assembly for state transportation projects to be funded with the state's share of such transferred moneys.
Increases the percentage of state sales and use tax revenues attributable to sales or use of vehicles and related items that are credited to the highway users tax fund from 10% to 15%. Requires the resulting additional moneys be distributed for state and local transportation purposes. Specifies the distribution of such additional moneys between counties, municipalities, and the state. Extends the time during which state sales and use tax revenues attributable to sales or use of vehicles and related items are credited to the highway users tax fund from July 1, 2002, until July 1, 2008.
Creates the state excess revenue transportation fund in the state treasury. Requires the state treasurer to annually transfer the required amount of state excess revenues for certain fiscal years to the state excess revenue transportation fund. Specifies that such transfers are not appropriations subject to the statutory limitation on general fund appropriations. Sets forth the formula by which moneys in the fund are to be distributed to counties, municipalities, and the state.
Specifies that the moneys distributed for transportation purposes constitute a voterapproved revenue change and shall not be included in state or local fiscal year spending for purposes of section 20 of article X of the state constitution.
Refers the act to the voters at the 1998 general
election.
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. The introductory portion to 2475302 (2) and 2475302 (2) (l), (2) (m), and (2) (n), Colorado Revised Statutes, are amended, and the said 2475302 (2) is further amended BY THE ADDITION OF THE FOLLOWING NEW PARAGRAPHS, to read:
2475302. Capital construction
fund capital assessment fees calculation.
(2) As of July 1, 1988, and July 1 of each year thereafter
through July 1, 2001
JULY 1, 2002, a sum as specified in this subsection (2) shall
accrue to the capital construction fund. The state treasurer
and the controller shall transfer such sum out of the general
fund and into the capital construction fund as moneys become available
in the general fund during the fiscal year beginning on said July
1. Transfers between funds pursuant to this subsection (2) shall
not be deemed to be appropriations subject to the limitations
of section 2475201.1. MONEYS THAT ARE MADE AVAILABLE
FOR TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE
PROJECTS AS THE RESULT OF TRANSFERS MADE PURSUANT TO SUBSECTION
(2) OF THIS SECTION, AS AMENDED BY SENATE BILL 98____, ENACTED
AT THE SECOND REGULAR SESSION OF THE SIXTYFIRST GENERAL
ASSEMBLY, SHALL CONSTITUTE A VOTERAPPROVED REVENUE CHANGE
AND 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).
The amount which shall accrue pursuant to this subsection (2)
shall be as follows:
(k.5) IN ADDITION TO ANY OTHER MONEYS TRANSFERRED PURSUANT TO PARAGRAPH (k) OF THIS SUBSECTION (2), ON THE EFFECTIVE DATE OF THIS PARAGRAPH (k.5), ONE HUNDRED MILLION DOLLARS TO BE AVAILABLE AS FOLLOWS:
(I) TWENTYTWO MILLION DOLLARS SHALL BE PAID TO THE COUNTY TREASURERS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434207, C.R.S., SHALL BE EXPENDED FOR TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(II) EIGHTEEN MILLION DOLLARS SHALL BE PAID TO CITIES AND INCORPORATED TOWNS WITHIN THE LIMITS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434208 (2) (b) AND (6) (a), C.R.S., SHALL BE EXPENDED FOR TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(III) SIXTY MILLION DOLLARS SHALL BE AVAILABLE FOR APPROPRIATION ONLY FOR STATE TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS;
(l) (I) On July 1, 1999, three hundred twentythree thousand nine hundred ninetyeight dollars pursuant to H.B. 971186, enacted at the first regular session of the sixtyfirst general assembly;
(II) IN ADDITION TO ANY OTHER MONEYS TRANSFERRED PURSUANT TO SUBPARAGRAPH (I) OF THIS PARAGRAPH (l), ON JULY 1, 1999, ONE HUNDRED MILLION DOLLARS TO BE AVAILABLE AS FOLLOWS:
(A) TWENTYTWO MILLION DOLLARS SHALL BE PAID TO THE COUNTY TREASURERS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434207, C.R.S., SHALL BE EXPENDED FOR TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(B) EIGHTEEN MILLION DOLLARS SHALL BE PAID TO CITIES AND INCORPORATED TOWNS WITHIN THE LIMITS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434208 (2) (b) AND (6) (a), C.R.S., SHALL BE EXPENDED FOR TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(C) SIXTY MILLION DOLLARS SHALL BE AVAILABLE FOR APPROPRIATION ONLY FOR STATE TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS.
(m) (I) On July 1, 2000, one hundred
eightyfour thousand ninety dollars pursuant to H.B. 971186,
plus four hundred seventyeight thousand six hundred thirtyfour
dollars pursuant to H.B. 971077, enacted at the first regular
session of the sixtyfirst general assembly; and
(II) IN ADDITION TO ANY OTHER MONEYS TRANSFERRED PURSUANT TO SUBPARAGRAPH (I) OF THIS PARAGRAPH (m), ON JULY 1, 2000, ONE HUNDRED MILLION DOLLARS TO BE AVAILABLE AS FOLLOWS:
(A) TWENTYTWO MILLION DOLLARS SHALL BE PAID TO THE COUNTY TREASURERS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434207, C.R.S., SHALL BE EXPENDED FOR TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(B) EIGHTEEN MILLION DOLLARS SHALL BE PAID TO CITIES AND INCORPORATED TOWNS WITHIN THE LIMITS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434208 (2) (b) AND (6) (a), C.R.S., SHALL BE EXPENDED FOR TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(C) SIXTY MILLION DOLLARS SHALL BE AVAILABLE FOR APPROPRIATION ONLY FOR STATE TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS.
(n) (I) On July 1, 2001, one hundred fiftyfour thousand six hundred thirtysix dollars pursuant to H.B. 971186, plus nine hundred five thousand seven hundred twentythree dollars pursuant to H.B. 971077, enacted at the first regular session of the sixtyfirst general assembly;
(II) IN ADDITION TO ANY OTHER MONEYS TRANSFERRED PURSUANT TO SUBPARAGRAPH (I) OF THIS PARAGRAPH (n), ON JULY 1, 2001, ONE HUNDRED MILLION DOLLARS TO BE AVAILABLE AS FOLLOWS:
(A) TWENTYTWO MILLION DOLLARS SHALL BE PAID TO THE COUNTY TREASURERS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434207, C.R.S., SHALL BE EXPENDED FOR TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(B) EIGHTEEN MILLION DOLLARS SHALL BE PAID TO CITIES AND INCORPORATED TOWNS WITHIN THE LIMITS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434208 (2) (b) AND (6) (a), C.R.S., SHALL BE EXPENDED FOR TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(C) SIXTY MILLION DOLLARS SHALL BE AVAILABLE FOR APPROPRIATION ONLY FOR STATE TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS.
(o) ON JULY 1, 2002, ONE HUNDRED MILLION DOLLARS TO BE AVAILABLE AS FOLLOWS:
(I) TWENTYTWO MILLION DOLLARS SHALL BE PAID TO THE COUNTY TREASURERS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434207, C.R.S., SHALL BE EXPENDED FOR TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(II) EIGHTEEN MILLION DOLLARS SHALL BE PAID TO CITIES AND INCORPORATED TOWNS WITHIN THE LIMITS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434208 (2) (b) AND (6) (a), C.R.S., SHALL BE EXPENDED FOR TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(III) SIXTY MILLION DOLLARS SHALL BE AVAILABLE FOR APPROPRIATION ONLY FOR STATE TRANSPORTATION CONSTRUCTION, RECONSTRUCTION, REPAIR, AND MAINTENANCE PROJECTS.
SECTION 2. 231304 (1) (a.5), Colorado Revised Statutes, is amended to read:
231304. Powers and duties of capital development committee. (1) The capital development committee shall have the following powers and duties:
(a.5) To study the capital construction
request from the transportation commission for state highway
TRANSPORTATION CONSTRUCTION, reconstruction, repair, and maintenance
projects to be funded from money transferred to the capital construction
fund pursuant to section 2475302 (2), C.R.S., specifically
for such purpose. On or before October 1 of each year, the transportation
commission shall submit its capital construction request, based
on the statewide transportation improvement programs, with a prioritized
list of recommended state highway
TRANSPORTATION CONSTRUCTION, reconstruction, repair, and maintenance
projects with the priority of projects on the list determined
on the basis of greatest need without regard to location in the
state. except that, for the 199697
fiscal year , the prioritized list of projects to be funded by
the revenues appropriated for such year by S.B. 96197, as
enacted at the second regular session of the sixtieth general
assembly, shall consist only of state highway reconstruction,
repair, maintenance, and capacity expansion projects.
The capital development committee shall determine the number
of projects on the list that may be funded from money available
in the capital construction fund for state highway
TRANSPORTATION CONSTRUCTION, reconstruction, repair, or maintenance
projects. Only projects on the list may be funded from money
available in the capital construction fund for state highway
TRANSPORTATION CONSTRUCTION, reconstruction, repair, or maintenance
projects, and the projects must be funded in the priority determined
by the transportation commission. Projects on the list submitted
by the transportation commission by October 1 may be funded from
money transferred to the capital construction fund and available
in the current fiscal year or money to be transferred to the capital
construction fund for the fiscal year beginning the following
July 1.
SECTION 3. 3926123 (1), (2) (a) (I) (A), (2) (d), and (2) (e), Colorado Revised Statutes, are amended to read:
3926123. Receipts
disposition repeal. (1) Eightyfive
percent of all receipts collected under the provisions of this
article shall be credited to the old age pension fund. Before
July 1, 1997, and for the fiscal year commencing July
1, 2002 JULY 1, 2008, and each year
thereafter, the remaining fifteen percent shall be credited to
the general fund, and the general assembly shall make appropriations
therefrom for the expenses of the administration of this article.
(2) (a) (I) (A) Eightyfive
percent of all receipts collected under the provisions of this
article shall be credited to the old age pension fund. For the
fiscal year commencing July 1, 1997, and
for four succeeding fiscal years thereafter,
the remaining fifteen percent shall be allocated between and credited
to the general fund and the highway users tax fund, as a portion
of the sales and use taxes attributable to sales or use of vehicles
and related items, as follows: Ten percent of net revenue from
sales and use tax to the highway users tax fund and five percent
thereof to the general fund.
(B) EIGHTYFIVE PERCENT OF ALL RECEIPTS COLLECTED UNDER THE PROVISIONS OF THIS ARTICLE SHALL BE CREDITED TO THE OLD AGE PENSION FUND. FOR THE FISCAL YEAR COMMENCING JULY 1, 1998, AND FOR NINE SUCCEEDING FISCAL YEARS THEREAFTER, THE REMAINING FIFTEEN PERCENT SHALL BE CREDITED TO THE HIGHWAY USERS TAX FUND AS A PORTION OF THE SALES AND USE TAXES ATTRIBUTABLE TO SALES OR USE OF VEHICLES AND RELATED ITEMS.
(B) (C) For
purposes of this subparagraph (I), "net revenue" means
the gross amount of sales and use tax receipts collected under
the provisions of this article, less three and onethird
percent of such amount retained by vendors for the collection
and remittance of such tax pursuant to section 3926105
(1) (a).
(d) For the fiscal year commencing July
1, 1997, and for four
TEN succeeding fiscal years thereafter, the state treasurer shall
credit an amount of sales and use taxes attributable to sales
or use of vehicles and related items to the highway users tax
fund as provided in paragraph (a) of this subsection (2).
(e) This subsection (2) is repealed, effective
July 1, 2002
JULY 1, 2008.
SECTION 4. 434205 (6.5), Colorado Revised Statutes, is amended to read:
434205. Allocation of fund. (6.5) (a) (I) THIRTYTHREE PERCENT OF the revenues credited to the highway users tax fund pursuant to section 3926123 (2), C.R.S., shall be paid to the state highway fund for allocation to the department of transportation and shall be expended as provided in section 434206 (2).
(II) SIXTYSIX PERCENT OF THE REVENUES CREDITED TO THE HIGHWAY USERS TAX FUND PURSUANT TO SECTION 3926123 (2), C.R.S., SHALL BE PAID AS FOLLOWS:
(A) TWENTYTWO PERCENT OF SUCH REVENUES SHALL BE PAID TO THE COUNTY TREASURERS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434207, SHALL BE EXPENDED ONLY FOR TRANSPORTATION PURPOSES, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(B) EIGHTEEN PERCENT OF SUCH REVENUES SHALL BE PAID TO CITIES AND INCORPORATED TOWNS WITHIN THE LIMITS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434208 (2) (b) AND (6) (a), SHALL BE EXPENDED ONLY FOR TRANSPORTATION PURPOSES, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(C) SIXTY PERCENT OF SUCH REVENUES SHALL BE PAID TO THE STATE HIGHWAY FUND FOR ALLOCATION TO THE DEPARTMENT OF TRANSPORTATION AND SHALL BE EXPENDED AS PROVIDED IN SECTION 434206 (2).
(III) MONEYS CREDITED TO THE HIGHWAY USERS TAX FUND PURSUANT TO SECTION 3926123 (2), C.R.S., AND DISTRIBUTED PURSUANT TO SUBPARAGRAPH (II) OF THIS PARAGRAPH (a) SHALL CONSTITUTE A VOTERAPPROVED REVENUE CHANGE AND 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), C.R.S.
(b) This subsection (6.5) is repealed,
effective July 1, 2002
JULY 1, 2008.
SECTION 5. Article 75 of title 24, Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW PART to read:
PART 11
STATE EXCESS REVENUE TRANSPORTATION FUND
24751101. State excess revenue transportation fund created. (1) THERE IS HEREBY ESTABLISHED IN THE STATE TREASURY THE STATE EXCESS REVENUE TRANSPORTATION FUND, WHICH SHALL CONSIST OF GENERAL FUND REVENUES TRANSFERRED THERETO PURSUANT TO SUBSECTION (2) OF THIS SECTION. ALL INTEREST DERIVED FROM THE DEPOSIT AND INVESTMENT OF MONEYS IN THE FUND SHALL BE CREDITED TO THE FUND. ANY MONEYS REMAINING IN THE FUND AT THE END OF ANY FISCAL YEAR SHALL NOT REVERT OR BE TRANSFERRED TO THE GENERAL FUND OF THE STATE.
(2) (a) NO LATER THAN FEBRUARY 1, 1999, THE STATE TREASURER SHALL TRANSFER AN AMOUNT OF REVENUES FROM THE GENERAL FUND TO THE STATE EXCESS REVENUE TRANSPORTATION FUND CREATED IN SUBSECTION (1) OF THIS SECTION EQUAL TO THE LESSER OF:
(I) SEVENTYFIVE MILLION DOLLARS; OR
(II) THE AMOUNT OF STATE REVENUES FROM SOURCES NOT EXCLUDED FROM STATE FISCAL YEAR SPENDING THAT ARE IN EXCESS OF THE FISCAL YEAR SPENDING LIMITATION IMPOSED UPON THE STATE BY SECTION 20 (7) (a) OF ARTICLE X OF THE STATE CONSTITUTION FOR THE 199798 STATE FISCAL YEAR.
(b) (I) UPON CERTIFICATION THAT STATE REVENUES FROM SOURCES NOT EXCLUDED FROM STATE FISCAL YEAR SPENDING EXCEED THE LIMITATION ON FISCAL YEAR SPENDING IMPOSED UPON THE STATE BY SECTION 20 (7) (a) OF ARTICLE X OF THE STATE CONSTITUTION FOR ANY FISCAL YEAR COMMENCING ON OR AFTER JULY 1, 1998, BUT PRIOR TO JULY 1, 2003, THE STATE TREASURER SHALL TRANSFER AN AMOUNT OF REVENUES FROM THE GENERAL FUND TO THE STATE EXCESS REVENUE TRANSPORTATION FUND CREATED IN SUBSECTION (1) OF THIS SECTION EQUAL TO THE LESSER OF:
(A) SEVENTYFIVE MILLION DOLLARS; OR
(B) THE AMOUNT OF STATE REVENUES FROM SOURCES NOT EXCLUDED FROM STATE FISCAL YEAR SPENDING THAT ARE IN EXCESS OF THE FISCAL YEAR SPENDING LIMITATION IMPOSED UPON THE STATE BY SECTION 20 (7) (a) OF ARTICLE X OF THE STATE CONSTITUTION FOR SUCH STATE FISCAL YEAR AS CERTIFIED AND AUDITED PURSUANT TO SECTION 2477106.5.
(II) THE STATE TREASURER SHALL TRANSFER SAID AMOUNT OF REVENUES TO THE STATE EXCESS REVENUE TRANSPORTATION FUND NO LATER THAN NOVEMBER 1 OF THE CALENDAR YEAR IN WHICH THE STATE FISCAL YEAR FOR WHICH SUCH EXCESS STATE REVENUES ARE CERTIFIED ENDED.
(c) ANY TRANSFER OF REVENUES FROM THE GENERAL FUND TO THE STATE EXCESS REVENUE TRANSPORTATION FUND PURSUANT TO THE PROVISIONS OF THIS SECTION SHALL NOT BE DEEMED TO BE AN APPROPRIATION SUBJECT TO THE LIMITATION OF SECTION 2475201.1.
24751102. Purposes. (1) FOR THE FISCAL YEARS COMMENCING ON AND AFTER JULY 1, 1999, BUT PRIOR TO JULY 1, 2003, THE REVENUES IN THE STATE EXCESS REVENUE TRANSPORTATION FUND SHALL BE DISTRIBUTED AS FOLLOWS:
(a) TWENTYTWO PERCENT OF SUCH REVENUES IN THE STATE EXCESS REVENUE TRANSPORTATION FUND FOR ANY GIVEN FISCAL YEAR SHALL BE PAID TO THE COUNTY TREASURERS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434207, C.R.S., SHALL BE EXPENDED ONLY FOR TRANSPORTATION PURPOSES, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(b) EIGHTEEN PERCENT OF SUCH REVENUES IN THE STATE EXCESS REVENUE TRANSPORTATION FUND FOR ANY GIVEN FISCAL YEAR SHALL BE PAID TO CITIES AND INCORPORATED TOWNS WITHIN THE LIMITS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, SHALL BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434208 (2) (b) AND (6) (a), C.R.S., SHALL BE EXPENDED ONLY FOR TRANSPORTATION PURPOSES, AND SHALL NOT BE EXPENDED FOR ADMINISTRATIVE PURPOSES.
(c) SIXTY PERCENT OF SUCH REVENUES IN THE STATE EXCESS REVENUE TRANSPORTATION FUND SHALL BE PAID TO THE STATE HIGHWAY FUND FOR ALLOCATION TO THE DEPARTMENT OF TRANSPORTATION AND SHALL BE EXPENDED AS PROVIDED IN SECTION 434206 (2), C.R.S.
(2) MONEYS DISTRIBUTED FROM THE STATE EXCESS REVENUE TRANSPORTATION FUND PURSUANT TO SUBSECTION (1) OF THIS SECTION SHALL CONSTITUTE A VOTERAPPROVED REVENUE CHANGE AND 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).
SECTION 6. 2477106.5, Colorado Revised Statutes, is amended to read:
2477106.5. Annual financial report certification of state excess revenues. (1) (a) For each fiscal year, the controller shall prepare a financial report for the state for purposes of ascertaining compliance with the provisions of this article. Any financial report prepared pursuant to this section shall include, but shall not be limited to, state fiscal year spending, reserves, revenues, and debt.
(b) BASED UPON THE FINANCIAL STATEMENT PREPARED IN ACCORDANCE WITH PARAGRAPH (a) OF THIS SUBSECTION (1) FOR ANY FISCAL YEAR COMMENCING ON OR AFTER JULY 1, 1998, THE CONTROLLER SHALL CERTIFY TO THE GOVERNOR, THE GENERAL ASSEMBLY, AND THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF REVENUE NO LATER THAN SEPTEMBER 1 FOLLOWING THE END OF A FISCAL YEAR THE AMOUNT OF STATE REVENUES IN EXCESS OF THE LIMITATION ON STATE FISCAL YEAR SPENDING IMPOSED BY SECTION 20 (7) (a) OF ARTICLE X OF THE STATE CONSTITUTION, IF ANY, FOR SUCH FISCAL YEAR.
(2) Such
ANY financial report PREPARED AND CERTIFICATION OF STATE EXCESS
REVENUES MADE PURSUANT TO SUBSECTION (1) OF THIS SECTION shall
be audited by the state auditor. NO LATER THAN SEPTEMBER 15 FOLLOWING
THE CERTIFICATION MADE BY THE STATE CONTROLLER FOR ANY GIVEN FISCAL
YEAR, THE STATE AUDITOR SHALL REPORT AND TRANSMIT TO THE GOVERNOR,
THE GENERAL ASSEMBLY, AND THE EXECUTIVE DIRECTOR OF THE DEPARTMENT
OF REVENUE THE RESULTS OF ANY AUDIT CONDUCTED IN ACCORDANCE WITH
THIS SUBSECTION (2).
SECTION 7. 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 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, and 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 PROVIDING FINANCIAL ASSISTANCE FOR STATE AND LOCAL TRANSPORTATION NEEDS, SHALL THE STATE OF COLORADO BE PERMITTED: TO ANNUALLY RETAIN UP TO SEVENTYFIVE MILLION DOLLARS OF STATE REVENUES IN EXCESS OF THE CONSTITUTIONAL LIMITATION ON STATE FISCAL YEAR SPENDING FOR THE 199798 STATE FISCAL YEAR AND FOR EACH OF THE SUCCEEDING FOUR STATE FISCAL YEARS, NOTWITHSTANDING ANY RESTRICTION ON STATE FISCAL YEAR SPENDING, INCLUDING WITHOUT LIMITATION THE RESTRICTIONS OF SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION; TO INCREASE THE AMOUNT OF STATE SALES AND USE TAX REVENUES ANNUALLY TRANSFERRED TO THE HIGHWAY USERS TAX FUND, TO EXTEND THE TIME DURING WHICH SUCH REVENUES ARE TRANSFERRED, AND TO ALLOW LOCAL GOVERNMENTS TO RECEIVE A PORTION OF SUCH REVENUES; TO TRANSFER ADDITIONAL STATE GENERAL FUND REVENUES TO THE CAPITAL CONSTRUCTION FUND FOR STATE AND LOCAL TRANSPORTATION PROJECTS; AND TO SPECIFY THAT SUCH TRANSFERS ARE NOT SUBJECT TO ANY STATE CONSTITUTIONAL OR STATUTORY RESTRICTION OR LIMITATION ON STATE 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.