First Regular Session
Sixty-second General Assembly
LLS NO. 99-0713.01 Dan Cartin HOUSE BILL 99-1328
STATE OF COLORADO
BY REPRESENTATIVE George
FINANCE
APPROPRIATIONS
A BILL FOR AN ACT
101 CONCERNING THE ESTABLISHMENT OF THE LOCAL GOVERNMENT GROWTH
102 ASSISTANCE PROGRAM TO PROVIDE FINANCIAL ASSISTANCE TO
103 GROWTH-IMPACTED LOCAL GOVERNMENTAL ENTITIES, AND MAKING
104 AN APPROPRIATION IN CONNECTION THEREWITH.
Bill Summary
(Note: This summary applies to this bill as introduced and does
not necessarily reflect any amendments that may be subsequently
adopted.)
Establishes a pilot program that authorizes governmental entities,
where at least one entity is a growth county and another is a subsidizing
county and at least one city or town located in each of the counties that
participates, to enter into intergovernmental agreements for up to 5 years
whereby the governmental entities agree to allocate state grants and loans
for certain growth-related purposes.
Requires that such agreements establish a method for allocating
moneys to the governmental entities that are parties to the agreement,
specify the amount of matching funds for which the parties are obligated,
and provide for the treatment of moneys that are made available but not
expended for purposes of section 20 of article X of the state constitution.
Provides that no agreement may be entered into after July 1, 2000.
Specifies the qualifications for growth and subsidizing counties and
designates certain counties as growth counties for purposes of the pilot
program. Requires the executive director of the department of local
affairs to certify and approve agreements pursuant to specified criteria.
Provides for parties to an agreement to apply to the executive
director of the department of local affairs for grants and loans from
moneys in the local government growth assistance fund, which is created
in the state treasury. Upon considering recommendations by the local
[ ] denotes HOUSE amendment. { } denotes SENATE amendment.
Capital letters indicate new material to be added to existing statute.
Dashes through the words indicate material to be deleted from existing statute.
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government growth assistance advisory committee, authorizes the
executive director to award grants and make loans to parties of an
approved agreement. Specifies that no grant shall be awarded or loan
made unless the parties to the agreement provide matching funds. Sets
limits on the amount of grants and loans that may be made available for
each agreement individually and for all agreements during a given fiscal
year. Creates the local government growth assistance advisory committee
and specifies its membership and duties.
Provides for the creation of local growth impact funds, along with
local boards of trustees to manage the local growth impact funds, and
requires the boards to prepare annual reports of the conditions of the local
growth impact funds. Requires the executive director of the department
of local affairs to make annual reports to the governor and local
government committees of the senate and the house of representatives
regarding the status of all agreements, all grants and loans made pursuant
to the program, and the condition of local growth impact funds.
Authorizes the executive director to promulgate rules for the
implementation of the pilot program.
Repeals the pilot program, effective July 1, 2005.
Authorizes any county or any city or town that is a party to such
an agreement to levy a countywide or a city or town sales tax increase for
the purpose of crediting revenues from that sales tax increase to the local
growth impact fund established by the agreement. Requires voter
approval of any such additional sales tax. Exempts such sales tax
increase from the limitations on the amount of sales tax that a county or
a city or town may impose. Specifies that, for any fiscal year
commencing on or after July 1, 1998, if the controller certifies that there
were excess TABOR revenues for such fiscal year, the sales tax increase
may be imposed:
For a period from January 1 through June 30 of the
calendar year following the calendar year in which that
fiscal year ended if such certification is made prior to the
election authorizing such additional sales tax; and
For a period from October 1 of the calendar year in which
that fiscal year ended through June 30 of the following
calendar year if such certification is made after an election
authorized such sales tax increase.
Authorizes the executive director of the department of revenue to
temporarily reduce, for a specified period of time, the state sales tax
imposed in a county or in a city or town that has authorized a sales tax
increase for the purpose of crediting revenues from that tax to the local
growth impact fund if, for any fiscal year commencing on or after July 1,
1998, the controller certifies there are excess state TABOR revenues for
such fiscal year. Specifies that such a temporary state sales tax reduction
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shall be:
For a period from January 1 through June 30 of the
calendar year following the calendar year in which that
fiscal year ended if such certification is made prior to the
election authorizing such sales tax increase; and
For the period of October 1 of the calendar year during
which such fiscal year ended through June 30 of the
following calendar year if such certification is made after
an election authorizing such sales tax increase.
Requires that the temporary state sales tax be reduced by a
percentage equal to the percentage of the sales tax increase authorized in
such county or in such city or town.
Provides for publication of the state sales tax reduction in rules
promulgated by the executive director of the department of revenue and
in such notices and publications as are customarily issued by the
department concerning the state sales tax.
Requires the state controller to certify the amount of state revenues
in excess of the constitutional limitation on state fiscal year spending for
any given fiscal year by a specified date. Requires the state auditor to
conduct an audit of the certified amount of excess state revenues by a
specified date.
Makes an appropriation.
1 Be it enacted by the General Assembly of the State of Colorado:
2 SECTION 1. Article 1 of title 29, Colorado Revised Statutes, is
3 amended BY THE ADDITION OF A NEW PART to read:
4 PART 11
5 LOCAL GOVERNMENT GROWTH
6 ASSISTANCE PROGRAM
7 29-1-1101. Legislative declaration. (1) THE GENERAL
8 ASSEMBLY HEREBY FINDS AND DECLARES THAT GROWTH IN THE STATE OF
9 COLORADO IS A CONCERN AT BOTH THE STATE AND LOCAL LEVELS
10 BECAUSE THE STATE AS A WHOLE IS AFFECTED BY SUCH GROWTH AND
11 BECAUSE THE APPROPRIATE METHOD OF ADDRESSING ISSUES CAUSED BY
12 GROWTH DEPENDS ON THE UNIQUE CHARACTERISTICS OF EACH AFFECTED
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1 AREA AND THE NATURE OF THE GROWTH.
2 (2) THE GENERAL ASSEMBLY FURTHER FINDS AND DECLARES THAT:
3 (a) IN CERTAIN AREAS OF THE STATE, GROWTH PATTERNS HAVE
4 DEVELOPED IN WHICH INDIVIDUALS WORK IN JURISDICTIONS THAT
5 GENERATE AN AMOUNT OF REVENUE FOR THE STATE THAT EXCEEDS THE
6 STATEWIDE PER CAPITA AVERAGE BUT RESIDE IN JURISDICTIONS THAT
7 GENERATE AN AMOUNT OF REVENUE FOR THE STATE THAT IS LESS THAN
8 THE STATEWIDE PER CAPITA AVERAGE;
9 (b) SUCH GROWTH PATTERNS ALSO DISPROPORTIONATELY IMPACT
10 THE AMOUNT OF REVENUES GENERATED FOR THE LOCAL JURISDICTIONS
11 THROUGH THEIR LOCALLY IMPOSED TAXES;
12 (c) THIS SITUATION CAN RESULT IN WHAT AMOUNTS TO A SUBSIDY
13 IN PROVIDING FOR SCHOOLS, HUMAN SERVICES, POLICE AND FIRE SERVICES,
14 STREETS AND HIGHWAYS, AFFORDABLE HOUSING, WATER, WASTEWATER
15 TREATMENT, SOLID WASTE DISPOSAL, AND OTHER SERVICES FROM THE
16 JURISDICTIONS WHERE INDIVIDUALS RESIDE TO THE JURISDICTIONS WHERE
17 THEY WORK;
18 (d) IT IS DESIRABLE TO ENHANCE THE BALANCE OF REVENUES
19 AVAILABLE IN SUCH GROWTH-IMPACTED REGIONS OF THE STATE WHILE
20 ENSURING THAT THE POWER, AUTHORITY, AND RESOURCES TO DESIGN
21 SPECIFIC SOLUTIONS TO ADDRESS THE PROBLEMS CREATED BY GROWTH
22 REMAIN IN THE HANDS OF THE LOCAL JURISDICTIONS THAT ARE IN THE BEST
23 POSITION TO EVALUATE THEIR NEEDS; AND
24 (e) IT IS APPROPRIATE THAT STATE REVENUES BE UTILIZED TO
25 ENABLE SUCH GROWTH-IMPACTED REGIONS OF THE STATE TO ADDRESS THE
26 PROBLEMS CREATED BY GROWTH SINCE STATE REVENUES ARE AUGMENTED
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1 BY INCREASING AMOUNTS OF STATE INDIVIDUAL INCOME AND SALES TAXES
2 COLLECTED FROM INDIVIDUALS AND ENTITIES LOCATED IN SUCH
3 GROWTH-IMPACTED REGIONS.
4 (3) IT IS THEREFORE THE INTENT OF THE GENERAL ASSEMBLY IN
5 ENACTING THIS PART 11 TO ESTABLISH A PILOT PROGRAM THAT ALLOWS
6 LOCAL GOVERNMENTS TO WORK COOPERATIVELY TO ADDRESS THE
7 IMPACTS OF GROWTH BY UTILIZING FINANCIAL ASSISTANCE GIVEN BY THE
8 STATE TO GROWTH-IMPACTED REGIONS.
9 29-1-1102. Definitions. AS USED IN THIS PART 11, UNLESS THE
10 CONTEXT OTHERWISE REQUIRES:
11 (1) "ADVISORY COMMITTEE" MEANS THE LOCAL GOVERNMENT
12 GROWTH ASSISTANCE ADVISORY COMMITTEE CREATED PURSUANT TO
13 SECTION 29-1-1106 (1).
14 (2) "BOARD OF TRUSTEES" MEANS THE BOARD OF TRUSTEES OF A
15 LOCAL GROWTH IMPACT FUND.
16 (3) "COUNTY" MEANS A COUNTY OR A CITY AND COUNTY.
17 (4) "ENTITY" OR "GOVERNMENTAL ENTITY" MEANS ANY COUNTY,
18 CITY, CITY AND COUNTY, TOWN, SCHOOL DISTRICT, SPECIAL DISTRICT, OR
19 HOUSING AUTHORITY CREATED PURSUANT TO PART 2 OR 5 OF ARTICLE 4 OF
20 THIS TITLE.
21 (5) "EXCESS PER CAPITA REVENUE" MEANS THE DIFFERENCE
22 BETWEEN THE PER CAPITA REVENUE WITHIN A GROWTH COUNTY AND PER
23 CAPITA REVENUE STATEWIDE.
24 (6) "EXECUTIVE DIRECTOR" MEANS THE EXECUTIVE DIRECTOR OF
25 THE DEPARTMENT OF LOCAL AFFAIRS.
26 (7) "GROWTH COUNTY" MEANS A COUNTY SATISFYING THE
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1 CONDITIONS SET FORTH IN SECTION 29-1-1103 (3).
2 (8) "LOCAL FUND" MEANS A LOCAL GROWTH IMPACT FUND.
3 (9) "PER CAPITA REVENUE" MEANS STATE REVENUE RESULTING
4 FROM STATE INDIVIDUAL INCOME AND SALES TAXES COLLECTED FROM
5 INDIVIDUALS OR ENTITIES LOCATED WITHIN THE JURISDICTION OF A
6 GOVERNMENTAL ENTITY DURING A GIVEN STATE FISCAL YEAR DIVIDED BY
7 THE POPULATION OF THE ENTITY.
8 (10) "PER CAPITA REVENUE STATEWIDE" MEANS THE AVERAGE PER
9 CAPITA REVENUE FOR ALL GOVERNMENTAL ENTITIES OF A PARTICULAR
10 TYPE WITHIN THE STATE OF COLORADO.
11 (11) "POPULATION" MEANS THE LARGEST POPULATION ESTIMATE
12 FOR THE PRECEDING CALENDAR YEAR AS PREPARED BY THE DIVISION OF
13 PLANNING PURSUANT TO SECTION 24-32-204, C.R.S.
14 (12) "SUBSIDIZING COUNTY" MEANS A COUNTY SATISFYING THE
15 CONDITIONS IN SECTION 29-1-1103 (4).
16 29-1-1103. Intergovernmental agreements - purpose -
17 necessary parties. (1) ANY COMBINATION OF GOVERNMENTAL ENTITIES
18 IN THE STATE, WHERE AT LEAST ONE ENTITY IS A GROWTH COUNTY AND
19 ONE ENTITY IS A SUBSIDIZING COUNTY AND WHERE AT LEAST ONE CITY OR
20 TOWN LOCATED IN EACH OF SAID COUNTIES IS A PARTICIPANT, MAY ENTER
21 INTO AN INTERGOVERNMENTAL AGREEMENT PURSUANT TO PART 2 OF THIS
22 ARTICLE FOR UP TO FIVE YEARS FOR THE PURPOSE OF IMPLEMENTING A
23 PLAN TO RELIEVE FINANCIAL PRESSURES AND FACILITATE THE PROVISION
24 OF CERTAIN SERVICES IN REGIONS WHERE THE IMPACTS OF GROWTH CROSS
25 LOCAL GOVERNMENTAL BOUNDARIES. AN INTERGOVERNMENTAL
26 AGREEMENT ENTERED INTO IN ACCORDANCE WITH THIS PART 11 SHALL BE
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1 SUBMITTED TO THE EXECUTIVE DIRECTOR AND SHALL NOT BE EFFECTIVE
2 UNLESS AND UNTIL THE EXECUTIVE DIRECTOR HAS CERTIFIED THAT THE
3 ENTITIES ARE QUALIFIED TO ENTER INTO SUCH AN AGREEMENT PURSUANT
4 TO SECTION 29-1-1104 (1).
5 (2) THE INTERGOVERNMENTAL AGREEMENT SHALL:
6 (a) ESTABLISH A METHOD FOR ALLOCATING MONEYS IN A LOCAL
7 GROWTH IMPACT FUND TO ONE OR MORE OF THE GOVERNMENTAL ENTITIES
8 THAT ARE PARTIES TO THE AGREEMENT AS PART OF THE PLAN TO ADDRESS
9 THE IMPACTS OF GROWTH IN THE FOLLOWING AREAS:
10 (I) AFFORDABLE HOUSING;
11 (II) SOCIAL IMPACTS OF EMPLOYEE COMMUTING PATTERNS;
12 (III) TRANSPORTATION; AND
13 (IV) PUBLIC SERVICES AND FACILITIES RELATED THERETO;
14 (b) SPECIFY THE TOTAL AMOUNT OF THE MATCHING FUNDS
15 REQUIRED BY SECTION 29-1-1105 (3) AND THE AMOUNT OF SUCH FUNDS
16 FOR WHICH ONE OR MORE OF THE PARTIES TO THE AGREEMENT IS
17 OBLIGATED;
18 (c) CONTAIN PROVISIONS CONCERNING THE TREATMENT OF ANY
19 UNEXPENDED MONEYS IN THE LOCAL GROWTH IMPACT FUND FOR PURPOSES
20 OF THE FISCAL YEAR SPENDING LIMITS SET FORTH IN SECTION 20 (7) OF
21 ARTICLE X OF THE STATE CONSTITUTION.
22 (3) A GROWTH COUNTY, FOR THE PURPOSES OF THIS PART 11, IS A
23 COUNTY WITH A POPULATION OF LESS THAN FIFTY THOUSAND IN WHICH
24 THE PER CAPITA REVENUE, BASED ON THE MOST RECENT REVENUE FIGURES
25 AVAILABLE, IS:
26 (a) GREATER THAN THE PER CAPITA REVENUE STATEWIDE DURING
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1 THE SAME PERIOD OF TIME; AND
2 (b) AT LEAST TEN PERCENT GREATER THAN THE PER CAPITA
3 REVENUE OF THE PARTICIPATING SUBSIDIZING COUNTY WITH THE LOWEST
4 PER CAPITA REVENUE DURING THE SAME PERIOD OF TIME.
5 (4) A SUBSIDIZING COUNTY, FOR THE PURPOSES OF THIS PART 11,
6 IS A COUNTY IN WHICH THE PER CAPITA REVENUE, BASED ON THE MOST
7 RECENT REVENUE FIGURES AVAILABLE, IS AT LEAST TEN PERCENT LESS
8 THAN THE PER CAPITA REVENUE DURING THE SAME PERIOD OF TIME OF THE
9 GROWTH COUNTY WITH THE HIGHEST PER CAPITA REVENUE THAT IS A
10 PARTY TO THE INTERGOVERNMENTAL AGREEMENT.
11 (5) NOTHING IN THIS PART 11 SHALL BE CONSTRUED TO PROHIBIT:
12 (a) GOVERNMENTAL ENTITIES OTHER THAN GROWTH OR
13 SUBSIDIZING COUNTIES FROM PARTICIPATING AS ADDITIONAL PARTIES TO
14 THE INTERGOVERNMENTAL AGREEMENTS DESCRIBED IN THIS SECTION; OR
15 (b) GOVERNMENTAL ENTITIES FROM ENTERING INTO SEPARATE
16 AGREEMENTS CONCERNING THE ALLOCATION AND USE OF LOCALLY
17 IMPOSED TAXES IF SUCH AGREEMENTS ARE OTHERWISE IN ACCORDANCE
18 WITH LAW.
19 (6) NO INTERGOVERNMENTAL AGREEMENT SHALL BE ENTERED
20 INTO PURSUANT TO THIS PART 11 AFTER JULY 1, 2000.
21 29-1-1104. Certification of intergovernmental agreements by
22 the department of local affairs. (1) NO LATER THAN OCTOBER 1 OF
23 EACH YEAR, FOR EACH INTERGOVERNMENTAL AGREEMENT ENTERED INTO
24 AND SUBMITTED PURSUANT TO THIS PART 11, THE EXECUTIVE DIRECTOR
25 SHALL CERTIFY WHETHER THERE IS AT LEAST ONE GROWTH COUNTY AND
26 ONE SUBSIDIZING COUNTY PARTICIPATING IN THE AGREEMENT AND
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1 WHETHER THERE IS AT LEAST ONE CITY OR TOWN IN EACH OF SAID
2 COUNTIES PARTICIPATING IN THE AGREEMENT AS A MEANS OF
3 DETERMINING WHETHER THE ENTITIES THAT HAVE ENTERED INTO THE
4 AGREEMENT ARE QUALIFIED TO DO SO.
5 (2) IF THE EXECUTIVE DIRECTOR CERTIFIES THAT THE PARTIES TO
6 AN INTERGOVERNMENTAL AGREEMENT ARE QUALIFIED TO ENTER INTO
7 SUCH AN AGREEMENT PURSUANT TO THIS PART 11, THE AGREEMENT SHALL
8 BE DEEMED APPROVED, AND THE EXECUTIVE DIRECTOR SHALL NOTIFY THE
9 GOVERNING BOARDS OF THE PARTICIPATING ENTITIES OF SUCH APPROVAL.
10 IN ADDITION, THE EXECUTIVE DIRECTOR SHALL DETERMINE, BASED ON THE
11 MOST RECENT FIGURES AVAILABLE, THE AMOUNT OF EXCESS PER CAPITA
12 REVENUE AND THE POPULATION OF EACH GROWTH COUNTY THAT IS A
13 PARTY TO THE INTERGOVERNMENTAL AGREEMENT. THE EXECUTIVE
14 DIRECTOR SHALL UPDATE THIS INFORMATION ANNUALLY FOR AS LONG AS
15 THE AGREEMENT IS IN EFFECT, BUT NOTHING IN THIS SECTION SHALL BE
16 CONSTRUED TO AUTHORIZE THE EXECUTIVE DIRECTOR TO REQUIRE THAT
17 THE PARTIES TO AN APPROVED AGREEMENT BE RECERTIFIED PURSUANT TO
18 THIS SECTION.
19 (3) THE EXECUTIVE DIRECTOR SHALL NOT APPROVE AND SHALL
20 NOT BE REQUIRED TO MAKE THE CERTIFICATION DESCRIBED IN THIS
21 SECTION FOR ANY AGREEMENT THAT IS ENTERED INTO AFTER JULY 1, 2000.
22 29-1-1105. Grants and loans to growth-impacted regions -
23 authority of executive director - application procedures. (1) NO
24 LATER THAN NOVEMBER 1 OF EACH YEAR, THE PARTIES TO AN
25 INTERGOVERNMENTAL AGREEMENT ENTERED INTO IN ACCORDANCE WITH
26 THIS PART 11 MAY APPLY TO THE EXECUTIVE DIRECTOR FOR A GRANT OR
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1 LOAN FROM THE LOCAL GOVERNMENT GROWTH ASSISTANCE FUND
2 CREATED IN SECTION 29-1-1107 (1).
3 (2) SUBJECT TO THE REQUIREMENTS CONTAINED IN SUBSECTION (3)
4 OF THIS SECTION, UPON RECEIVING RECOMMENDATIONS FROM THE
5 ADVISORY COMMITTEE REGARDING ANY APPLICATION FOR A GRANT OR
6 LOAN, THE EXECUTIVE DIRECTOR MAY AWARD, IN THE EXECUTIVE
7 DIRECTOR'S DISCRETION, A GRANT OR LOAN IN SUCH AMOUNT AND UNDER
8 SUCH CONDITIONS AS THE EXECUTIVE DIRECTOR DETERMINES TO BE
9 APPROPRIATE.
10 (3) (a) NO GRANT SHALL BE AWARDED OR LOAN MADE UNDER THIS
11 SECTION UNLESS THE PARTIES TO THE INTERGOVERNMENTAL AGREEMENT
12 PROVIDE MATCHING FUNDS IN THE AMOUNT OF THE GRANT TO BE
13 AWARDED OR THE LOAN TO BE MADE THAT HAVE BEEN CREDITED TO THE
14 LOCAL FUND PURSUANT TO SUCH AGREEMENT.
15 (b) NO GRANT AWARDED OR LOAN MADE IN ANY GIVEN YEAR BY
16 THE EXECUTIVE DIRECTOR TO THE PARTIES TO AN APPROVED AGREEMENT
17 SHALL EXCEED AN AMOUNT EQUAL TO THE TOTAL OF FIFTY PERCENT OF
18 THE PRODUCT OF THE EXCESS PER CAPITA REVENUE AND THE POPULATION,
19 BASED ON THE MOST RECENT FIGURES AVAILABLE, OF EACH GROWTH
20 COUNTY THAT IS A PARTY TO THE AGREEMENT.
21 (c) THE TOTAL AMOUNT OF GRANTS AWARDED OR LOANS MADE
22 DURING ANY GIVEN STATE FISCAL YEAR SHALL NOT EXCEED THE AMOUNT
23 OF REVENUES IN THE LOCAL GOVERNMENT GROWTH ASSISTANCE FUND
24 CREATED IN SECTION 29-1-1107 (1).
25 (4) IT IS THE INTENT OF THE GENERAL ASSEMBLY THAT ANY
26 GRANTS AWARDED OR LOANS MADE PURSUANT TO THIS PART 11 BE IN
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1 ADDITION TO AND NOT A SUBSTITUTE FOR FUNDS OTHERWISE
2 APPROPRIATED TO OR FOR THE BENEFIT OF THE PARTICIPATING
3 GOVERNMENTAL ENTITIES.
4 29-1-1106. Local government growth assistance advisory
5 committee - creation - duties. (1) THERE IS HEREBY CREATED WITHIN
6 THE DEPARTMENT OF LOCAL AFFAIRS A LOCAL GOVERNMENT GROWTH
7 ASSISTANCE ADVISORY COMMITTEE. THE ADVISORY COMMITTEE SHALL BE
8 COMPOSED OF THE FOLLOWING NINE MEMBERS:
9 (a) THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF LOCAL
10 AFFAIRS OR THE EXECUTIVE DIRECTOR'S DESIGNEE;
11 (b) THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF HUMAN
12 SERVICES OR THE EXECUTIVE DIRECTOR'S DESIGNEE;
13 (c) THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF
14 TRANSPORTATION OR THE EXECUTIVE DIRECTOR'S DESIGNEE;
15 (d) THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF REVENUE
16 OR THE EXECUTIVE DIRECTOR'S DESIGNEE;
17 (e) THE STATE DIRECTOR OF HOUSING OR THE STATE DIRECTOR'S
18 DESIGNEE;
19 (f) TWO MEMBERS APPOINTED BY THE EXECUTIVE DIRECTOR OF
20 THE DEPARTMENT OF LOCAL AFFAIRS WHO ARE RESIDENTS OF A GROWTH
21 COUNTY AND WHO SERVE AT THE PLEASURE OF THE EXECUTIVE DIRECTOR;
22 EXCEPT THAT SAID MEMBERS SHALL NOT BE FROM THE SAME GROWTH
23 COUNTY; AND
24 (g) TWO MEMBERS APPOINTED BY THE EXECUTIVE DIRECTOR OF
25 THE DEPARTMENT OF LOCAL AFFAIRS WHO ARE RESIDENTS OF A
26 SUBSIDIZING COUNTY AND WHO SERVE AT THE PLEASURE OF THE
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1 EXECUTIVE DIRECTOR; EXCEPT THAT SAID MEMBERS SHALL NOT BE FROM
2 THE SAME SUBSIDIZING COUNTY.
3 (2) ONE OF THE MEMBERS INITIALLY APPOINTED PURSUANT TO
4 PARAGRAPH (f) OF SUBSECTION (1) OF THIS SECTION AND ONE OF THE
5 MEMBERS INITIALLY APPOINTED PURSUANT TO PARAGRAPH (g) OF
6 SUBSECTION (1) OF THIS SECTION SHALL SERVE TERMS OF TWO YEARS. THE
7 REMAINING MEMBER INITIALLY APPOINTED PURSUANT TO PARAGRAPH (f)
8 OF SUBSECTION (1) OF THIS SECTION AND THE REMAINING MEMBER
9 INITIALLY APPOINTED PURSUANT TO PARAGRAPH (g) OF SUBSECTION (1) OF
10 THIS SECTION SHALL SERVE TERMS OF FOUR YEARS. ALL MEMBERS
11 SUBSEQUENTLY APPOINTED PURSUANT TO PARAGRAPHS (f) AND (g) OF
12 SUBSECTION (1) OF THIS SECTION SHALL SERVE TERMS OF FOUR YEARS, BUT
13 NO MEMBER SHALL SERVE MORE THAN TWO SUCCEEDING FOUR-YEAR
14 TERMS.
15 (3) THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF LOCAL
16 AFFAIRS OR THE EXECUTIVE DIRECTOR'S DESIGNEE SHALL SERVE AS THE
17 CHAIRPERSON OF THE ADVISORY COMMITTEE AND SHALL CONVENE THE
18 COMMITTEE FROM TIME TO TIME AS THE EXECUTIVE DIRECTOR DEEMS
19 NECESSARY.
20 (4) THE COMMITTEE SHALL HAVE THE FOLLOWING DUTIES:
21 (a) TO ESTABLISH A STANDARDIZED METHODOLOGY AND CRITERIA
22 FOR DOCUMENTING, MEASURING, ASSESSING, AND REPORTING THE IMPACT
23 OF GROWTH UPON PARTIES TO APPROVED INTERGOVERNMENTAL
24 AGREEMENTS;
25 (b) TO ESTABLISH CRITERIA FOR AWARDING GRANTS AND MAKING
26 LOANS, INCLUDING BUT NOT LIMITED TO PROCEDURES, POLICIES, OR
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1 REQUIREMENTS FOR APPLICATIONS FOR GRANTS AND LOANS AND FOR THE
2 AWARDING OF GRANTS AND THE MAKING OF LOANS;
3 (c) TO PRIORITIZE APPLICATIONS FOR GRANTS AND LOANS BY
4 PARTIES TO APPROVED INTERGOVERNMENTAL AGREEMENTS BASED UPON
5 THE NEEDS OF THE PARTIES, THE EXCESS PER CAPITA REVENUE, THE
6 DOCUMENTED IMPACTS OF GROWTH ON THE PARTIES, AND THE POPULATION
7 OF EACH GROWTH COUNTY THAT IS A PARTY TO AN INTERGOVERNMENTAL
8 AGREEMENT, BASED UPON THE MOST RECENT DATA AVAILABLE;
9 (d) TO MAKE RECOMMENDATIONS REGARDING GRANT AND LOAN
10 APPLICATIONS, INCLUDING ANY CONDITIONS TO BE IMPOSED, TO BE
11 CONSIDERED BY THE EXECUTIVE DIRECTOR IN AWARDING GRANTS AND
12 MAKING LOANS TO PARTIES OF APPROVED INTERGOVERNMENTAL
13 AGREEMENTS PURSUANT TO SECTION 29-1-1105 (2).
14 29-1-1107. Local government growth assistance fund -
15 creation. (1) THERE IS HEREBY CREATED IN THE STATE TREASURY THE
16 LOCAL GOVERNMENT GROWTH ASSISTANCE FUND. SAID FUND SHALL
17 CONSIST OF THE FOLLOWING REVENUES:
18 (a) ALL REVENUES APPROPRIATED TO THE FUND BY THE GENERAL
19 ASSEMBLY;
20 (b) ALL REVENUES RECEIVED BY THE EXECUTIVE DIRECTOR FOR
21 THE REPAYMENT OF LOANS MADE PURSUANT TO THIS PART 11;
22 (c) ALL INTEREST DERIVED FROM THE DEPOSIT AND INVESTMENT
23 OF THE REVENUES IN THE FUND.
24 (2) ALL INTEREST DERIVED FROM THE DEPOSIT AND INVESTMENT
25 OF MONEYS IN THE FUND SHALL BE CREDITED TO THE FUND. AT THE END
26 OF ANY FISCAL YEAR, ALL UNEXPENDED AND UNENCUMBERED MONEYS IN
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1 THE FUND SHALL REMAIN THEREIN AND SHALL NOT BE CREDITED OR
2 TRANSFERRED TO THE GENERAL FUND OR ANY OTHER FUND. THE MONEYS
3 IN THE FUND ARE SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL
4 ASSEMBLY TO THE DEPARTMENT OF LOCAL AFFAIRS FOR THE
5 DEPARTMENT'S COSTS OF ADMINISTERING THE LOCAL GOVERNMENT
6 GROWTH ASSISTANCE PROGRAM AND FOR AWARDING GRANTS AND MAKING
7 LOANS TO PARTIES OF APPROVED INTERGOVERNMENTAL AGREEMENTS
8 PURSUANT TO THIS PART 11.
9 29-1-1108. Local growth impact funds - creation - boards of
10 trustees - reports - management - use. (1) WHEN AN
11 INTERGOVERNMENTAL AGREEMENT PURSUANT TO THIS PART 11 HAS BEEN
12 APPROVED, A BOARD OF TRUSTEES REPRESENTING THE PARTIES TO THE
13 AGREEMENT SHALL BE CREATED, AND THE BOARD OF TRUSTEES SHALL
14 ESTABLISH A LOCAL GROWTH IMPACT FUND.
15 (2) THE BOARD OF TRUSTEES SHALL CONSIST OF NOT MORE THAN
16 THREE MEMBERS OF THE GOVERNING BOARD OF EACH ENTITY THAT IS A
17 PARTY TO THE INTERGOVERNMENTAL AGREEMENT WHO SHALL BE
18 APPOINTED BY THE GOVERNING BOARD OF EACH RESPECTIVE
19 GOVERNMENTAL ENTITY. IN ADDITION TO ANY OTHER DUTIES, EACH
20 BOARD OF TRUSTEES SHALL PREPARE AN ANNUAL REPORT OF THE
21 CONDITION OF ITS LOCAL FUND THAT SHALL BE SUBMITTED TO THE
22 EXECUTIVE DIRECTOR NO LATER THAN OCTOBER 1 OF EACH YEAR. SUCH
23 REPORT SHALL INCLUDE THE CURRENT LOCAL FUND BALANCE AND
24 INFORMATION CONCERNING THE AMOUNT OF MONEY EXPENDED FROM THE
25 LOCAL FUND PURSUANT TO THE INTERGOVERNMENTAL AGREEMENT AND
26 FOR THE REPAYMENT OF ANY LOANS RECEIVED PURSUANT TO THIS PART 11
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1 FOR THE PRECEDING YEAR.
2 (3) (a) THE LOCAL FUND SHALL CONSIST OF:
3 (I) ANY MONEYS AWARDED OR LOANED TO THE PARTIES TO THE
4 INTERGOVERNMENTAL AGREEMENT PURSUANT TO SECTION 29-1-1105 (2);
5 (II) ANY REVENUES DERIVED FROM A SALES TAX IMPOSED
6 PURSUANT TO SECTION 29-2-103.7; AND
7 (III) ANY OTHER MONEYS CREDITED TO THE LOCAL FUND
8 PURSUANT TO THE INTERGOVERNMENTAL AGREEMENT.
9 (b) MONEYS IN THE LOCAL FUND SHALL BE USED IN THE MANNER
10 PROVIDED IN THIS PART 11. THE LOCAL FUND SHALL BE MANAGED AND
11 DISBURSED BY THE BOARD OF TRUSTEES ACCORDING TO THE PROVISIONS
12 OF THIS PART 11 AND PART 6 OF ARTICLE 75 OF TITLE 24, C.R.S., AND THE
13 TERMS OF THE INTERGOVERNMENTAL AGREEMENT IN CONFORMITY WITH
14 ANY RULES OR BYLAWS ADOPTED BY THE BOARD OF TRUSTEES. THE
15 BOARD OF TRUSTEES IS VESTED WITH THE GENERAL SUPERVISION AND
16 CONTROL OF THE LOCAL FUND AND IS AUTHORIZED TO TAKE ALL
17 NECESSARY STEPS AND PURSUE ALL NECESSARY REMEDIES FOR ITS
18 PRESERVATION.
19 (4) FOR PURPOSES OF SECTION 20 OF ARTICLE X OF THE STATE
20 CONSTITUTION, THE BOARD OF TRUSTEES OF A LOCAL FUND SHALL NOT BE
21 A DISTRICT BUT SHALL BE CONSIDERED AN INSTRUMENTALITY OF THE
22 GOVERNMENTAL ENTITIES THAT ARE PARTIES TO THE AGREEMENT, AND
23 ANY MONEYS DISTRIBUTED FROM A LOCAL FUND SHALL BE TREATED AS
24 FISCAL YEAR SPENDING BY THE ENTITY THAT RECEIVES THE MONEYS AND
25 MAKES EXPENDITURES THEREOF. THE TREATMENT OF ANY MONEYS
26 REMAINING IN A LOCAL FUND AT THE CLOSE OF THE STATE FISCAL YEAR
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1 SHALL BE DETERMINED BY THE PARTIES PURSUANT TO THE TERMS OF THEIR
2 INTERGOVERNMENTAL AGREEMENT.
3 (5) MONEYS DISTRIBUTED FROM A LOCAL FUND TO A SCHOOL
4 DISTRICT MAY BE USED ONLY FOR CAPITAL CONSTRUCTION AND LAND
5 ACQUISITION AND MAY NOT BE USED FOR ANY OPERATIONAL PURPOSE.
6 29-1-1109. Annual review - report. NO LATER THAN JANUARY
7 15, 2000, AND EACH JANUARY 15 THEREAFTER, THE EXECUTIVE DIRECTOR
8 SHALL SUBMIT A REPORT TO THE GOVERNOR AND THE LOCAL GOVERNMENT
9 COMMITTEES OF THE SENATE AND THE HOUSE OF REPRESENTATIVES
10 CONCERNING THE STATUS OF ALL INTERGOVERNMENTAL AGREEMENTS
11 ENTERED INTO PURSUANT TO THIS PART 11. THIS REPORT SHALL INCLUDE
12 A STATEMENT OF THE AMOUNT OF ALL GRANTS AWARDED AND LOANS
13 MADE TO PARTIES OF SUCH AGREEMENTS, THE AMOUNT OF MONEY
14 EXPENDED PURSUANT TO EACH AGREEMENT, WHETHER THE AGREEMENT IS
15 STILL IN EFFECT, AND, FOR EACH AGREEMENT THAT IS IN EFFECT, THE PER
16 CAPITA REVENUE OF EACH PARTICIPATING COUNTY AND THE PER CAPITA
17 STATE REVENUE. IN ADDITION, THE REPORT SHALL INCLUDE INFORMATION
18 ON THE CURRENT BALANCE AND TOTAL RECEIPTS OF ALL LOCAL FUNDS
19 CREATED BY INTERGOVERNMENTAL AGREEMENTS PURSUANT TO THIS PART
20 11. THE REPORT MAY INCLUDE SUCH OTHER INFORMATION AS THE
21 EXECUTIVE DIRECTOR DEEMS APPROPRIATE.
22 29-1-1110. Rules. THE EXECUTIVE DIRECTOR IS AUTHORIZED TO
23 PROMULGATE RULES FOR THE IMPLEMENTATION OF THIS PART 11.
24 29-1-1111. Repeal of part. THIS PART 11 IS REPEALED, EFFECTIVE
25 JULY 1, 2005.
26 SECTION 2. Article 2 of title 29, Colorado Revised Statutes, is
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1 amended BY THE ADDITION OF A NEW SECTION to read:
2 29-2-103.7. Sales tax for local growth impact fund - repeal.
3 (1) IN ADDITION TO ANY SALES TAX IMPOSED PURSUANT TO SECTION
4 29-2-102 OR 29-2-103, ANY COUNTY OR ANY CITY OR TOWN IN THIS STATE
5 THAT IS A PARTY TO AN INTERGOVERNMENTAL AGREEMENT ENTERED INTO
6 PURSUANT TO SECTION 29-1-1103 IS AUTHORIZED TO LEVY A COUNTYWIDE
7 OR A CITY OR TOWN SALES TAX OF UP TO __________ PERCENT FOR THE
8 PURPOSE OF CREDITING REVENUES DERIVED FROM SUCH SALES TAX TO THE
9 LOCAL GROWTH IMPACT FUND ESTABLISHED PURSUANT TO SUCH
10 AGREEMENT.
11 (2) (a) NO ADDITIONAL SALES TAX SHALL BE LEVIED PURSUANT TO
12 THE PROVISIONS OF SUBSECTION (1) OF THIS SECTION UNLESS:
13 (I) SUCH PROPOSAL HAS BEEN REFERRED TO AND APPROVED BY THE
14 REGISTERED ELECTORS OF THE COUNTY OR OF THE CITY OR TOWN IN
15 ACCORDANCE WITH THE PROVISIONS OF THIS ARTICLE; AND
16 (II) THE CONTROLLER HAS CERTIFIED THAT THE AGGREGATE
17 AMOUNT OF STATE REVENUES EXCEEDS THE LIMITATION ON STATE FISCAL
18 YEAR SPENDING IMPOSED BY SECTION 20 (7) (a) OF ARTICLE X OF THE
19 STATE CONSTITUTION FOR A PARTICULAR FISCAL YEAR AS PROVIDED IN
20 SUBSECTION (6) OF THIS SECTION.
21 (b) ANY PROPOSAL FOR THE IMPOSITION OF AN ADDITIONAL SALES
22 TAX PURSUANT TO THIS SECTION MAY ONLY BE SUBMITTED AT A GENERAL
23 ELECTION HELD ON THE FIRST TUESDAY AFTER THE FIRST MONDAY IN
24 NOVEMBER OF EACH YEAR OR AT AN ODD-YEAR ELECTION HELD ON THE
25 FIRST TUESDAY OF NOVEMBER OF SUCH ODD-YEAR AND SHALL BE
26 CONDUCTED BY THE COUNTY CLERK AND RECORDER IN ACCORDANCE WITH
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1 THE "UNIFORM ELECTION CODE OF 1992", ARTICLES 1 TO 13 OF TITLE 1,
2 C.R.S., OR BY THE MUNICIPAL CLERK IN ACCORDANCE WITH THE
3 "COLORADO MUNICIPAL ELECTION CODE OF 1965", ARTICLE 10 OF TITLE
4 31, C.R.S.
5 (3) IF APPROVED BY A MAJORITY OF THE REGISTERED ELECTORS
6 VOTING THEREON, THE ADDITIONAL SALES TAX AUTHORIZED PURSUANT TO
7 THIS SECTION SHALL BE IMPOSED AS PROVIDED IN SUBSECTION (6) OF THIS
8 SECTION.
9 (4) ALL REVENUES COLLECTED FROM THE ADDITIONAL SALES TAX
10 IMPOSED PURSUANT TO THIS SECTION SHALL BE CREDITED TO THE LOCAL
11 GROWTH IMPACT FUND ESTABLISHED PURSUANT TO THE
12 INTERGOVERNMENTAL AGREEMENT TO WHICH THE COUNTY OR THE CITY
13 OR TOWN LEVYING SUCH ADDITIONAL SALES TAX IS A PARTY.
14 (5) THE TAX AUTHORIZED BY THIS SECTION SHALL NOT BE SUBJECT
15 TO THE LIMITATIONS IMPOSED BY SECTION 29-2-108 BUT IN NO EVENT
16 SHALL SUCH TAX EXCEED __________ PERCENT.
17 (6) THE ADDITIONAL SALES TAX ADOPTED PURSUANT TO THIS
18 SECTION SHALL BE IMPOSED AS FOLLOWS:
19 (a) IF FOR ANY FISCAL YEAR COMMENCING ON OR AFTER JULY 1,
20 1998, THE CONTROLLER CERTIFIES BY SEPTEMBER 1 OF THE CALENDAR
21 YEAR IN WHICH THAT FISCAL YEAR ENDED THAT THE AGGREGATE AMOUNT
22 OF STATE REVENUES EXCEEDS THE LIMITATION ON STATE FISCAL YEAR
23 SPENDING IMPOSED BY SECTION 20 (7) (a) OF ARTICLE X OF THE STATE
24 CONSTITUTION AND THE VOTERS STATEWIDE EITHER HAVE NOT
25 AUTHORIZED THE STATE TO RETAIN AND SPEND ALL OF THE EXCESS
26 REVENUES FOR THAT FISCAL YEAR OR HAVE AUTHORIZED THE STATE TO
Page 19
1 RETAIN AND SPEND ONLY A PORTION OF THE EXCESS STATE REVENUES FOR
2 THAT FISCAL YEAR, SUCH ADDITIONAL SALES TAX SHALL BE IMPOSED:
3 (I) IF SUCH CERTIFICATION IS MADE BY SEPTEMBER 1 OF THE
4 CALENDAR YEAR IN WHICH THE ELECTION AUTHORIZING AN ADDITIONAL
5 SALES TAX IS HELD, FOR THE PERIOD FROM JANUARY 1 OF THE CALENDAR
6 YEAR IMMEDIATELY SUBSEQUENT TO SUCH ELECTION THROUGH JUNE 30 OF
7 SUCH CALENDAR YEAR;
8 (II) IF THE ELECTION AUTHORIZING AN ADDITIONAL SALES TAX IS
9 HELD PRIOR TO ANY SUCH CERTIFICATION, FOR THE PERIOD FROM OCTOBER
10 1 OF THE CALENDAR YEAR DURING WHICH SUCH FISCAL YEAR ENDED
11 THROUGH JUNE 30 OF THE CALENDAR YEAR IMMEDIATELY SUBSEQUENT TO
12 THE CALENDAR YEAR IN WHICH SUCH FISCAL YEAR ENDED.
13 (b) IF FOR ANY FISCAL YEAR COMMENCING ON OR AFTER JULY 1,
14 1998, THE AGGREGATE AMOUNT OF STATE REVENUES DOES NOT EXCEED
15 THE LIMITATION ON STATE FISCAL YEAR SPENDING IMPOSED BY SECTION 20
16 (7) (a) OF ARTICLE X OF THE STATE CONSTITUTION, NO ADDITIONAL SALES
17 TAX SHALL BE IMPOSED:
18 (I) FOR THE PERIOD COMMENCING ON JANUARY 1 FOLLOWING AN
19 ELECTION AUTHORIZING THE ADDITIONAL INCREMENT OF SALES TAX THAT
20 IS HELD IN THE CALENDAR YEAR IN WHICH SUCH FISCAL YEAR ENDED; OR
21 (II) FOR THE PERIOD COMMENCING ON OCTOBER 1 OF THE
22 CALENDAR YEAR IN WHICH SUCH FISCAL YEAR ENDED IF THE ELECTION
23 AUTHORIZING AN ADDITIONAL SALES TAX WAS HELD PRIOR TO THE END OF
24 SUCH FISCAL YEAR.
25 (c) NO ADDITIONAL COUNTYWIDE SALES TAX OR CITY OR TOWN
26 SALES TAX ADOPTED PURSUANT TO THIS SECTION SHALL BE IMPOSED FOR
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1 THE PERIOD FROM JULY 1 THROUGH SEPTEMBER 30 OF ANY CALENDAR
2 YEAR.
3 (7) NOTWITHSTANDING ANY PROVISION OF THIS SECTION TO THE
4 CONTRARY, NO ADDITIONAL SALES TAX SHALL BE IMPOSED PURSUANT TO
5 THE PROVISIONS OF SUBSECTION (1) OF THIS SECTION FOLLOWING THE
6 EXPIRATION OF THE INTERGOVERNMENTAL AGREEMENT TO WHICH THE
7 COUNTY OR THE CITY OR TOWN IMPOSING SUCH ADDITIONAL SALES TAX IS
8 A PARTY.
9 (8) NOT LESS THAN TEN DAYS FOLLOWING THE ELECTION
10 AUTHORIZING AN ADDITIONAL COUNTYWIDE SALES TAX OR CITY OR TOWN
11 SALES TAX, THE COUNTY OR THE CITY OR TOWN FOR WHICH SUCH
12 ADDITIONAL SALES TAX IS AUTHORIZED SHALL NOTIFY THE EXECUTIVE
13 DIRECTOR OF THE DEPARTMENT OF REVENUE FOR PURPOSES OF
14 IMPLEMENTING THE TEMPORARY STATE SALES AND USE TAX RATE
15 REDUCTION DESCRIBED IN SECTION 39-26-127, C.R.S. SUCH NOTICE
16 SHALL INCLUDE THE RATE OF THE ADDITIONAL SALES TAX AND THE
17 EXPIRATION DATE OF THE INTERGOVERNMENTAL AGREEMENT ENTERED
18 INTO BY SUCH COUNTY OR SUCH CITY OR TOWN PURSUANT TO SECTION
19 29-1-1103.
20 (9) THIS SECTION IS REPEALED, EFFECTIVE JULY 1, 2005.
21 SECTION 3. 29-2-108, Colorado Revised Statutes, is amended
22 BY THE ADDITION OF A NEW SUBSECTION to read:
23 29-2-108. Limitation on amount. (6) ANY ADDITIONAL SALES
24 TAX THAT MAY BE IMPOSED BY ANY COUNTY OR BY ANY CITY OR TOWN
25 PURSUANT TO THE PROVISIONS OF SECTION 29-2-103.7 SHALL BE EXEMPT
26 FROM THE SEVEN PERCENT LIMITATION IMPOSED BY SUBSECTION (1) OF
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1 THIS SECTION.
2 SECTION 4. Part 1 of article 26 of title 39, Colorado Revised
3 Statutes, is amended BY THE ADDITION OF A NEW SECTION to
4 read:
5 39-26-127. Fiscal years commencing on or after July 1, 1998
6 - temporary state sales tax reduction - authority of executive director.
7 (1) FOR ANY FISCAL YEAR COMMENCING ON OR AFTER JULY 1, 1998, IF,
8 BY SEPTEMBER 1 OF THE CALENDAR YEAR IN WHICH THAT FISCAL YEAR
9 ENDED, THE CONTROLLER HAS CERTIFIED IN ACCORDANCE WITH THE
10 PROVISIONS OF SECTION 24-77-106.5, C.R.S., THAT THE AGGREGATE
11 AMOUNT OF STATE REVENUES EXCEEDS THE LIMITATION ON STATE FISCAL
12 YEAR SPENDING IMPOSED BY SECTION 20 (7) (a) OF ARTICLE X OF THE
13 STATE CONSTITUTION FOR THE FISCAL YEAR ENDING IN THAT CALENDAR
14 YEAR, AND VOTERS STATEWIDE EITHER HAVE NOT AUTHORIZED THE STATE
15 TO RETAIN AND SPEND ALL OF THE EXCESS REVENUES FOR THAT FISCAL
16 YEAR OR HAVE AUTHORIZED THE STATE TO RETAIN AND SPEND ONLY A
17 PORTION OF THE EXCESS STATE REVENUES FOR THAT FISCAL YEAR, THE
18 EXECUTIVE DIRECTOR OF THE DEPARTMENT OF REVENUE SHALL
19 TEMPORARILY REDUCE THE STATE SALES TAX IMPOSED PURSUANT TO
20 SECTION 39-26-104 AS PROVIDED IN SUBSECTION (2) OF THIS SECTION.
21 (2) (a) IF THE CERTIFICATION DESCRIBED IN SUBSECTION (1) OF
22 THIS SECTION IS MADE BY SEPTEMBER 1 OF A CALENDAR YEAR IN WHICH
23 AN ELECTION AUTHORIZING A SALES TAX INCREASE PURSUANT TO SECTION
24 29-2-103.7, C.R.S., IS HELD, THE EXECUTIVE DIRECTOR SHALL
25 TEMPORARILY REDUCE THE STATE SALES TAX IMPOSED PURSUANT TO
26 SECTION 39-26-104 IN A COUNTY OR THE CITY OR TOWN AUTHORIZING
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1 SUCH AN ADDITIONAL SALES TAX FOR THE PERIOD OF JANUARY 1 OF THE
2 CALENDAR YEAR IMMEDIATELY SUBSEQUENT TO SUCH ELECTION THROUGH
3 JUNE 30 OF SUCH CALENDAR YEAR BY A PERCENTAGE EQUAL TO THE
4 PERCENTAGE OF THE ADDITIONAL SALES TAX INCREASE AUTHORIZED IN
5 SUCH COUNTY OR IN SUCH CITY OR TOWN.
6 (b) IF THE CERTIFICATION DESCRIBED IN SUBSECTION (1) IS MADE
7 BY SEPTEMBER 1 OF A CALENDAR YEAR AFTER AN ELECTION AUTHORIZING
8 A SALES TAX INCREASE PURSUANT TO SECTION 29-2-103.7, C.R.S., IS HELD,
9 THE EXECUTIVE DIRECTOR SHALL TEMPORARILY REDUCE THE STATE SALES
10 TAX IMPOSED PURSUANT TO SECTION 39-26-104 IN A COUNTY OR A CITY OR
11 TOWN AUTHORIZING SUCH AN ADDITIONAL SALES TAX BY A PERCENTAGE
12 EQUAL TO THE PERCENTAGE OF THE SALES TAX INCREASE AUTHORIZED IN
13 SUCH COUNTY OR IN SUCH CITY OR TOWN FOR THE PERIOD OF OCTOBER 1
14 OF THE CALENDAR YEAR DURING WHICH THAT FISCAL YEAR ENDED
15 THROUGH JUNE 30 OF THE CALENDAR YEAR IMMEDIATELY SUBSEQUENT TO
16 THE CALENDAR YEAR IN WHICH SUCH FISCAL YEAR ENDED.
17 (3) (a) ANY TEMPORARY STATE SALES TAX RATE REDUCTION
18 PURSUANT TO THE PROVISIONS OF THIS SECTION SHALL BE PUBLISHED IN
19 RULES PROMULGATED BY THE EXECUTIVE DIRECTOR OF THE DEPARTMENT
20 OF REVENUE IN ACCORDANCE WITH ARTICLE 4 OF TITLE 24, C.R.S., AND
21 SHALL BE INCLUDED IN SUCH NOTICES AND PUBLICATIONS AS ARE
22 CUSTOMARILY ISSUED BY THE DEPARTMENT OF REVENUE CONCERNING THE
23 STATE SALES TAX.
24 (b) IF ONE OR MORE BALLOT QUESTIONS THAT SEEK
25 AUTHORIZATION FOR THE STATE TO RETAIN AND SPEND ALL OR ANY
26 PORTION OF THE AMOUNT OF EXCESS STATE REVENUES FOR THE
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1 IMMEDIATELY PRECEDING FISCAL YEAR ARE SUBMITTED TO THE VOTERS AT
2 A STATEWIDE ELECTION TO BE HELD IN NOVEMBER OF ANY CALENDAR
3 YEAR COMMENCING ON OR AFTER JANUARY 1, 1999, THE EXECUTIVE
4 DIRECTOR OF THE DEPARTMENT OF REVENUE SHALL NOT PUBLISH RULES
5 CONTAINING ANY STATE SALES TAX RATE REDUCTION PURSUANT TO THIS
6 SECTION UNTIL SUCH RULES ARE ABLE TO REFLECT THE IMPACT OF THE
7 RESULTS OF SUCH ELECTION ON THE STATE SALES TAX RATE REDUCTION
8 PURSUANT TO THIS SECTION.
9 SECTION 5. 24-77-106.5, Colorado Revised Statutes, is
10 amended to read:
11 24-77-106.5. Annual financial report. (1) (a) For each fiscal
12 year, the controller shall prepare a financial report for the state for
13 purposes of ascertaining compliance with the provisions of this article.
14 Any financial report prepared pursuant to this section shall include, but
15 shall not be limited to, state fiscal year spending, reserves, revenues, and
16 debt. Such financial report shall be audited by the state auditor.
17 (b) BASED UPON THE FINANCIAL REPORT PREPARED IN
18 ACCORDANCE WITH PARAGRAPH (a) OF THIS SUBSECTION (1) FOR ANY
19 GIVEN FISCAL YEAR, THE CONTROLLER SHALL CERTIFY TO THE GOVERNOR,
20 THE GENERAL ASSEMBLY, AND THE EXECUTIVE DIRECTOR OF THE
21 DEPARTMENT OF REVENUE NO LATER THAN SEPTEMBER 1 FOLLOWING THE
22 END OF A FISCAL YEAR THE AMOUNT OF STATE REVENUES IN EXCESS OF THE
23 LIMITATION ON STATE FISCAL YEAR SPENDING IMPOSED BY SECTION 20 (7)
24 (a) OF ARTICLE X OF THE STATE CONSTITUTION, IF ANY, FOR SUCH FISCAL
25 YEAR.
26 (2) ANY FINANCIAL REPORT PREPARED AND CERTIFICATION OF
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1 STATE EXCESS REVENUES MADE PURSUANT TO SUBSECTION (1) OF THIS
2 SECTION SHALL BE AUDITED BY THE STATE AUDITOR. NO LATER THAN
3 SEPTEMBER 15 FOLLOWING THE CERTIFICATION MADE BY THE STATE
4 CONTROLLER FOR ANY GIVEN FISCAL YEAR, THE STATE AUDITOR SHALL
5 REPORT AND TRANSMIT TO THE GOVERNOR, THE GENERAL ASSEMBLY, AND
6 THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF REVENUE THE RESULTS
7 OF ANY AUDIT CONDUCTED IN ACCORDANCE WITH THIS SUBSECTION (2).
8 (2) (3) Notwithstanding any generally accepted accounting
9 principles to the contrary, financial reports prepared pursuant to
10 subsection (1) of this section shall not include any unrealized gains or
11 losses on investments held by the state.
12 SECTION 6. Appropriation. For the fiscal year commencing
13 July 1, 1999, in addition to any other appropriation, there is hereby
14 appropriated, out of any moneys in the general fund not otherwise
15 appropriated, to the local government growth assistance fund created in
16 section 29-1-1107 (1), Colorado Revised Statutes, the sum of ten million
17 dollars ($10,000,000), and such sum, or so much thereof as may be
18 necessary, is further appropriated to the department of local affairs for the
19 implementation of this act.
20 SECTION 7. Effective date. This act shall take effect at 12:01
21 a.m. on the day following the expiration of the ninety-day period after
22 final adjournment of the general assembly that is allowed for submitting
23 a referendum petition pursuant to article V, section 1 (3) of the state
24 constitution; except that, if a referendum petition is filed against this act
25 or an item, section, or part of this act within such period, then the act,
26 item, section, or part, if approved by the people, shall take effect on the
Page 25
1 date of the official declaration of the vote thereon by proclamation of the
2 governor.