BY REPRESENTATIVES Anderson, Tool, Bacon, Chavez, Dyer, Entz, George, Grossman, June, Kaufman, Keller, Mace, Reeser, Saliman, Schauer, Udall, S. Williams, and Zimmerman;
also SENATORS Wham, Bishop, Hernandez, Hopper, J. Johnson,
Martinez, Matsunaka, Norton, Pascoe, Phillips, Reeves, Rupert,
Tanner, and Weddig.
CONCERNING THE RETENTION OF STATE REVENUES IN EXCESS
OF THE CONSTITUTIONAL LIMITATION ON STATE FISCAL YEAR SPENDING
FOR CERTAIN FISCAL YEARS FOR THE PURPOSE OF FINANCING CERTAIN
GOVERNMENT PURPOSES, AND, IN CONNECTION THEREWITH, PROVIDING FINANCIAL
ASSISTANCE FOR PUBLIC SCHOOL CAPITAL CONSTRUCTION PROJECTS AND
PROVIDING ADDITIONAL REVENUES FOR STATE AND LOCAL TRANSPORTATION
NEEDS AND FOR PUBLIC HIGHER EDUCATION CAPITAL CONSTRUCTION PROJECTS.
Be it enacted by the General Assembly of the State
of Colorado:
SECTION 1. Legislative declaration.
(1) THE GENERAL ASSEMBLY HEREBY FINDS AND DECLARES
THAT:
(a) SECTION 20 OF ARTICLE X OF THE STATE
CONSTITUTION, WHICH WAS APPROVED BY THE REGISTERED ELECTORS OF
THIS STATE IN 1992, LIMITS THE ANNUAL GROWTH OF STATE FISCAL YEAR
SPENDING;
(b) WHEN REVENUES EXCEED THE STATE FISCAL
YEAR SPENDING LIMITATION FOR ANY GIVEN FISCAL YEAR, SECTION 20
(7) (d) OF ARTICLE X OF THE STATE CONSTITUTION REQUIRES THAT THE
EXCESS REVENUES BE REFUNDED IN THE NEXT FISCAL YEAR UNLESS VOTERS
APPROVE A REVENUE CHANGE ALLOWING THE STATE TO KEEP THE REVENUES;
(c) REVENUES ARE CURRENTLY ESTIMATED TO
EXCEED THE STATE FISCAL YEAR SPENDING LIMITATION FOR THE 199798
STATE FISCAL YEAR AND AT LEAST THE FOUR SUCCEEDING STATE FISCAL
YEARS;
(d) ESTIMATES ALSO INDICATE THAT THE INFRASTRUCTURE
NEEDS OF THE STATE, ESPECIALLY IN THE AREAS OF STATE AND LOCAL
TRANSPORTATION AND PUBLIC ELEMENTARY, SECONDARY, AND POSTSECONDARY
SCHOOL CAPITAL CONSTRUCTION, SIGNIFICANTLY EXCEED THE AMOUNT OF
REVENUES AVAILABLE FOR EXPENDITURE UNDER THE STATE FISCAL YEAR
SPENDING LIMITATION FOR THESE PURPOSES IN THE CURRENT AND IN FUTURE
FISCAL YEARS;
(e) WITHOUT AN IMMEDIATE INFUSION OF ADDITIONAL
REVENUES TO HELP MEET THESE PRESSING INFRASTRUCTURE NEEDS OF THE
STATE, FUNDING FOR THESE INFRASTRUCTURE NEEDS WILL CONTINUE TO
BE INSUFFICIENT AND THE CITIZENS OF THE STATE WILL BE FORCED TO
CONTINUE TO USE AND RELY UPON INADEQUATE AND DETERIORATING INFRASTRUCTURE
THAT ADVERSELY AFFECTS THEIR QUALITY OF LIFE;
(f) IT IS WITHIN THE LEGISLATIVE PREROGATIVE
OF THE GENERAL ASSEMBLY TO DETERMINE THAT IT IS NECESSARY FOR
A PORTION OF THE REVENUES ALREADY BEING COLLECTED BY THE STATE
UNDER EXISTING LAW BUT WHICH EXCEED THE LIMITATION ON STATE FISCAL
YEAR SPENDING TO BE EXPENDED TO HELP ADDRESS THE GROWING INFRASTRUCTURE
NEEDS OF THE STATE; AND
(g) IT IS ALSO WITHIN THE LEGISLATIVE
PREROGATIVE OF THE GENERAL ASSEMBLY TO ENACT LEGISLATION SEEKING
VOTER APPROVAL TO RETAIN FOR A LIMITED NUMBER OF YEARS A PORTION
OF REVENUES IN EXCESS OF THE LIMITATION ON STATE FISCAL YEAR SPENDING
TO BE EXPENDED FOR STATE AND LOCAL TRANSPORTATION NEEDS AND FOR
PUBLIC ELEMENTARY, SECONDARY, AND POSTSECONDARY SCHOOL CAPITAL
CONSTRUCTION NEEDS.
(2) THE GENERAL ASSEMBLY FURTHER FINDS
AND DECLARES THAT:
(a) SECTION 21 OF ARTICLE V OF THE STATE CONSTITUTION REQUIRES THAT A BILL MUST CONTAIN ONE SUBJECT, WHICH IS CLEARLY EXPRESSED IN ITS TITLE;
(b) ONE OF THE PURPOSES OF THIS CONSTITUTIONAL
MANDATE IS TO MAKE EACH LEGISLATIVE PROPOSAL DEPEND UPON ITS OWN
MERITS FOR PASSAGE;
(c) ANOTHER PURPOSE OF THE SINGLE SUBJECT
REQUIREMENT FOR A BILL THAT IS REFERRED TO THE VOTERS FOR APPROVAL
IS TO PROTECT THE VOTERS FROM FRAUD AND SURPRISE;
(d) IN INTERPRETING THE SINGLE SUBJECT
REQUIREMENT FOR INITIATED AND REFERRED MEASURES, THE COLORADO
SUPREME COURT HAS HELD THAT A MEASURE CONTAINS MORE THAN ONE SUBJECT
IF ITS TEXT RELATES TO MORE THAN ONE SUBJECT AND IF THE MEASURE
HAS AT LEAST TWO DISTINCT AND SEPARATE PURPOSES WHICH ARE NOT
DEPENDENT UPON OR CONNECTED WITH EACH OTHER;
(e) IT IS THE CONSIDERED JUDGMENT OF THE
GENERAL ASSEMBLY THAT HOUSE BILL 981256, AS ENACTED AT THE
SECOND REGULAR SESSION OF THE SIXTYFIRST GENERAL ASSEMBLY,
COMPLIES WITH THE SINGLE SUBJECT REQUIREMENT OF SECTION 21 OF
ARTICLE V OF THE STATE CONSTITUTION BECAUSE:
(I) ALL OF THE PROVISIONS OF THE BILL
ARE GERMANE TO THE SINGLE SUBJECT OF THE BILL AS EXPRESSED IN
ITS TITLE, WHICH IS THE RETENTION OF A PORTION OF STATE REVENUES
IN EXCESS OF THE FISCAL YEAR SPENDING LIMITATION IMPOSED ON THE
STATE BY SECTION 20 (7) (a) OF ARTICLE X OF THE STATE CONSTITUTION
FOR THE PURPOSE OF FINANCING THE INFRASTRUCTURE NEEDS OF THE STATE;
(II) THE USE OF EXCESS REVENUES TO FINANCE
STATE AND LOCAL TRANSPORTATION NEEDS AND PUBLIC ELEMENTARY, SECONDARY,
AND POSTSECONDARY SCHOOL CAPITAL CONSTRUCTION PROJECTS, AS PROVIDED
FOR IN THE BILL, CONSTITUTES ONE DISTINCT PURPOSE, WHICH IS THE
INVESTMENT OF A PORTION OF THE EXCESS REVENUES IN THE INFRASTRUCTURE
NEEDS OF THE STATE;
(III) THE USE OF EXCESS REVENUES TO FINANCE EACH TYPE OF INFRASTRUCTURE IS CONNECTED TO THE FINANCING OF THE OTHER TYPES OF INFRASTRUCTURE AS IT IS NECESSARY FOR THE GENERAL ASSEMBLY TO PRIORITIZE THE INFRASTRUCTURE NEEDS OF THE STATE, TO BALANCE THE NEED FOR EACH TYPE OF INFRASTRUCTURE AGAINST THE OTHER, AND TO ENSURE THAT THE FINANCING OF THE INFRASTRUCTURE NEEDS OF THE STATE APPROPRIATELY REFLECTS SAID PRIORITY AND BALANCE AS DETERMINED BY THE GENERAL ASSEMBLY;
(IV) THE REFERRAL OF THE BILL TO VOTERS
STATEWIDE FOR APPROVAL DOES NOT PRESENT THE OPPORTUNITY FOR FRAUD
OR SURPRISE AS THE BILL AND THE BALLOT QUESTION TO BE SUBMITTED
TO THE VOTERS CLEARLY IDENTIFIES THE MAXIMUM AMOUNT OF EXCESS
REVENUES TO BE RETAINED FOR A SPECIFIED NUMBER OF YEARS AND THE
SPECIFIC INFRASTRUCTURE NEEDS THAT WOULD BE FINANCED BY SUCH EXCESS
REVENUES.
SECTION 2. Article
75 of title 24, Colorado Revised Statutes, is amended BY THE ADDITION
OF A NEW PART to read:
PART 11
STATE EXCESS REVENUE TRUST FUND
24751101. State excess
revenue trust fund created. (1) THERE
IS HEREBY ESTABLISHED IN THE STATE TREASURY THE STATE EXCESS REVENUE
TRUST 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 TRUST FUND CREATED
IN SUBSECTION (1) OF THIS SECTION EQUAL TO THE LESSER OF:
(I) TWO HUNDRED MILLION DOLLARS; OR
(II) THE AMOUNT OF STATE REVENUES FROM
SOURCES NOT EXCLUDED FROM STATE FISCAL YEAR SPENDING THAT IS 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, 2002, THE STATE TREASURER SHALL TRANSFER AN AMOUNT
OF REVENUES FROM THE GENERAL FUND TO THE STATE EXCESS REVENUE
TRUST FUND CREATED IN SUBSECTION (1) OF THIS SECTION EQUAL TO
THE LESSER OF:
(A) TWO HUNDRED MILLION DOLLARS; OR
(B) THE AMOUNT OF STATE REVENUES FROM
SOURCES NOT EXCLUDED FROM STATE FISCAL YEAR SPENDING THAT IS 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 TRUST FUND
NO LATER THAN NOVEMBER 1 OF THE CALENDAR YEAR IN WHICH THE STATE
FISCAL YEAR FOR WHICH SUCH EXCESS STATE REVENUES ARE CERTIFIED
ENDS.
(c) ANY TRANSFER OF REVENUES FROM THE
GENERAL FUND TO THE STATE EXCESS REVENUE TRUST FUND PURSUANT TO
THE PROVISIONS OF THIS SECTION SHALL NOT BE DEEMED TO BE AN APPROPRIATION
SUBJECT TO THE LIMITATION OF SECTION 2475201.1.
(d) REVENUES TRANSFERRED TO THE STATE
EXCESS REVENUE TRUST FUND PURSUANT TO THIS SECTION SHALL CONSTITUTE
A VOTERAPPROVED REVENUE CHANGE, AND SUCH REVENUES 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).
24751102. Purposes.
(1) FOR THE FISCAL YEARS COMMENCING ON AND AFTER JULY
1, 1999, BUT PRIOR TO JULY 1, 2004, THE GENERAL ASSEMBLY SHALL,
BY BILL, TRANSFER REVENUES FROM THE STATE EXCESS REVENUE TRUST
FUND AS FOLLOWS:
(a) TO THE SCHOOL CONSTRUCTION AND RENOVATION
FUND CREATED IN SECTION 2243.7103, C.R.S., AS ENACTED
BY HOUSE BILL 981231, ENACTED AT THE SECOND REGULAR SESSION
OF THE SIXTYFIRST GENERAL ASSEMBLY;
(b) TO THE HIGHER EDUCATION ACCOUNT OF
THE CAPITAL CONSTRUCTION FUND CREATED IN SECTION 2475302;
AND
(c) TO THE HIGHWAY USERS TAX FUND CREATED IN SECTION 434201 (1) (a), C.R.S.
(2) THE AMOUNTS TRANSFERRED FOR EACH OF THE PURPOSES SPECIFIED IN SUBSECTION (1) OF THIS SECTION DURING THE PERIOD COMMENCING JULY 1, 1999, AND ENDING PRIOR TO JULY 1, 2004, SHALL
BE ALLOCATED IN THE FOLLOWING PERCENTAGES:
(a) FIFTY PERCENT OF THE REVENUES FROM
THE STATE EXCESS REVENUE TRUST FUND TO THE HIGHWAY USERS TAX FUND
CREATED IN SECTION 434201 (1) (a), C.R.S.;
(b) THIRTY PERCENT OF THE REVENUES FROM
THE STATE EXCESS REVENUE TRUST FUND TO THE SCHOOL CONSTRUCTION
AND RENOVATION FUND CREATED IN SECTION 2243.7103,
C.R.S., AS ENACTED BY HOUSE BILL 981231, ENACTED AT THE
SECOND REGULAR SESSION OF THE SIXTYFIRST GENERAL ASSEMBLY;
(c) TWENTY PERCENT OF THE REVENUES FROM
THE STATE EXCESS REVENUE TRUST FUND TO THE HIGHER EDUCATION ACCOUNT
OF THE CAPITAL CONSTRUCTION FUND CREATED IN SECTION 2475302.
SECTION 3. 2475302,
Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW
SUBSECTION to read:
2475302. Capital construction
fund capital assessment fees calculation.
(3.5) (a) THERE IS HEREBY CREATED A SPECIAL ACCOUNT
WITHIN THE CAPITAL CONSTRUCTION FUND ESTABLISHED PURSUANT TO SUBSECTION
(1) OF THIS SECTION TO BE KNOWN AS THE HIGHER EDUCATION CAPITAL
CONSTRUCTION ACCOUNT. THE ACCOUNT SHALL CONSIST OF SUCH MONEYS
AS ARE TRANSFERRED THERETO IN ACCORDANCE WITH SECTION 24751102
(1) (b). ALL MONEYS UNEXPENDED OR UNENCUMBERED IN ANY FISCAL
YEAR SHALL REMAIN IN THE ACCOUNT. ALL INTEREST EARNED FROM THE
INVESTMENT OF MONEYS IN SAID ACCOUNT SHALL REMAIN THEREIN AND
SHALL NOT REVERT TO THE GENERAL FUND.
(b) MONEYS TRANSFERRED TO THE HIGHER EDUCATION
CAPITAL CONSTRUCTION ACCOUNT ARE IN ADDITION TO ANY MONEYS TRANSFERRED
TO THE CAPITAL CONSTRUCTION FUND PURSUANT TO SUBSECTION (2) OF
THIS SECTION. MONEYS TRANSFERRED TO THE HIGHER EDUCATION CAPITAL
CONSTRUCTION ACCOUNT SHALL BE APPROPRIATED ONLY FOR CAPITAL CONSTRUCTION
PROJECTS OF STATESUPPORTED INSTITUTIONS OF HIGHER EDUCATION.
SECTION 4. 434205, Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW SUBSECTION to read:
434205. Allocation of fund.
(6.7) ANY REVENUES TRANSFERRED
TO THE HIGHWAY USERS TAX FUND PURSUANT TO SECTION 24751102
(1), C.R.S., SHALL BE ALLOCATED AS FOLLOWS:
(a) SIXTY PERCENT OF SUCH REVENUE SHALL
BE PAID TO THE STATE HIGHWAY FUND AND SHALL BE EXPENDED AS PROVIDED
IN SECTION 434206.
(b) TWENTYTWO PERCENT OF SUCH REVENUE
SHALL BE PAID TO THE COUNTY TREASURERS OF THE RESPECTIVE COUNTIES,
SUBJECT TO ANNUAL APPROPRIATION BY THE GENERAL ASSEMBLY, AND SHALL
BE ALLOCATED AND EXPENDED AS PROVIDED IN SECTION 434207.
OF THE REVENUES PAID TO COUNTY TREASURERS OF THE RESPECTIVE COUNTIES
PURSUANT TO THIS PARAGRAPH (b), NO MORE THAN FIVE PERCENT SHALL
BE EXPENDED FOR ADMINISTRATIVE COSTS.
(c) EIGHTEEN PERCENT OF SUCH REVENUE SHALL
BE PAID TO THE CITIES AND INCORPORATED TOWNS, SUBJECT TO ANNUAL
APPROPRIATION BY THE GENERAL ASSEMBLY, AND SHALL BE ALLOCATED
AND EXPENDED AS PROVIDED IN SECTION 434208 (2) (b)
AND (6) (a). OF THE REVENUES PAID TO THE CITIES AND INCORPORATED
TOWNS PURSUANT TO THIS PARAGRAPH (c), NO MORE THAN FIVE PERCENT
SHALL BE EXPENDED FOR ADMINISTRATIVE COSTS.
SECTION 5. The
introductory portions to 434206 (1) and (1) (b), Colorado
Revised Statutes, are amended, and the said 434206
is further amended BY THE ADDITION OF A NEW SUBSECTION, to read:
434206. State allocation.
(1) Except as otherwise provided in subsection
SUBSECTIONS (2) AND (3) of this section, after the payments to
the highway crossing protection fund required by law have been
made and after paying the costs of the Colorado state patrol and
such other costs of the department, exclusive of highway construction,
highway improvements, or highway maintenance, as are appropriated
by the general assembly, sixtyfive percent of the balance
of the highway users tax fund shall be paid to the state highway
fund and shall be expended for the following purposes:
(b) Except as otherwise provided in subsection
SUBSECTIONS (2) AND (3) of this section, all moneys in the state
highway fund not required for the creation, maintenance, and application
of such highway anticipation or sinking fund and all moneys in
the state highway supplementary fund shall be available to pay
for:
(3) REVENUES CREDITED TO THE STATE HIGHWAY
FUND PURSUANT TO SECTION 434205 (6.7) (a) SHALL BE
EXPENDED FOR THE PURPOSES SET FORTH IN PARAGRAPH (a) OF SUBSECTION
(2) OF THIS SECTION. SUCH EXPENDITURES SHALL BE SUBJECT TO THE
LIMITATIONS SET FORTH IN SUBSECTION (2) OF THIS SECTION AND SHALL
BE INCLUDED IN ALL REPORTS REQUIRED UNDER SUBSECTION (2) OF THIS
SECTION. OF THE REVENUES CREDITED TO THE STATE HIGHWAY FUND PURSUANT
TO SECTION 434205 (6.7) (a), NO MORE THAN FIVE PERCENT
SHALL BE EXPENDED FOR ADMINISTRATIVE COSTS.
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 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: "SHALL THE STATE OF COLORADO BE PERMITTED TO ANNUALLY RETAIN UP TO TWO HUNDRED MILLION DOLLARS OF THE STATE REVENUES IN EXCESS OF THE CONSTITUTIONAL LIMITATION ON STATE FISCAL YEAR SPENDING FOR THE 199798 FISCAL YEAR AND FOR FOUR SUCCEEDING FISCAL YEARS FOR THE PURPOSE OF FUNDING SCHOOL DISTRICT CAPITAL CONSTRUCTION PROJECTS, STATE AND LOCAL TRANSPORTATION NEEDS, AND CAPITAL CONSTRUCTION PROJECTS OF STATE COLLEGES AND UNIVERSITIES, NOTWITHSTANDING ANY RESTRICTION ON SPENDING, REVENUES, OR APPROPRIATIONS, INCLUDING WITHOUT LIMITATION THE RESTRICTIONS OF SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION AND THE STATUTORY LIMITATION ON STATE GENERAL FUND APPROPRIATIONS, AND, IN CONNECTION THEREWITH, REQUIRING ANNUAL TRANSFERS OF SUCH EXCESS REVENUES FOR THESE PURPOSES, SPECIFYING THE ALLOCATION OF SUCH EXCESS REVENUES FOR THESE PURPOSES, SPECIFYING THE FUND TO WHICH A PORTION OF THE EXCESS REVENUES IS TO BE TRANSFERRED FOR SCHOOL DISTRICT CAPITAL CONSTRUCTION, ESTABLISHING A SPECIAL ACCOUNT IN THE CAPITAL CONSTRUCTION FUND TO WHICH A PORTION OF THE EXCESS REVENUES IS TO BE TRANSFERRED FOR HIGHER EDUCATION CAPITAL CONSTRUCTION, AND SPECIFYING THE ALLOCATION OF THE PORTION OF THE EXCESS REVENUES TRANSFERRED TO THE HIGHWAY USERS TAX FUND FOR STATE AND LOCAL TRANSPORTATION NEEDS?" 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.
____________________________ ____________________________
Charles E. Berry Tom Norton
SPEAKER OF THE HOUSE PRESIDENT OF
OF REPRESENTATIVES THE SENATE
____________________________ ____________________________
Judith M. Rodrigue Patricia K. Dicks
CHIEF CLERK OF THE HOUSE ASSISTANT SECRETARY OF
OF REPRESENTATIVES THE SENATE