Colorado Legislative Council Staff

NO FISCAL IMPACT

TITLE:            CONCERNING EXPENDITURES FROM THE STATE HISTORICAL FUND.

Summary of Assessment

            This bill clarifies the annual distribution of moneys from the State Historical Fund to the State Historical Society and the cities of Central, Black Hawk, and Cripple Creek. The bill requires the Colorado Historical Society to promulgate rules for administering the fund. The bill specifies requirements to ensure that moneys distributed to these cities are used for historic restoration and preservation. The bill prohibits the society or the cities from expending moneys from the fund unless they have adopted standards for distribution of grants from the fund. The bill specifies certain minimum criteria to be included in the standards. Additionally, the bill further prohibits the cities from expending moneys from the fund, subject to certain conditions. The bill will become effective upon the signature of the Governor.

            This bill does not change the formula, as specified by the Colorado Constitution, for the allocation of state revenue to the Colorado Historical Society and the cities of Central, Black Hawk, and Cripple Creek. The bill, however, limits the expenditure of such funds subject to development of certain criteria and standards. The bill will not affect administrative expenditures of the Colorado Historical Society under the Department of Higher Education.

            The bill will not affect state or local government revenue or expenditures. Therefore, it is assessed as having no fiscal impact.

Departments Contacted

             Colorado Historical Society        Department of Higher Education