Colorado § 8-77-101 Unemployment compensation fund - state treasurer custodian

Colorado Statutes

§ 8-77-101 — Unemployment compensation fund - state treasurer custodian

Colorado·Title 08 Labor and·Art. Unemployment Compensation

(1)(a) There is hereby established the unemployment compensation fund, which is a special fund administered by the division exclusively for the purposes of articles 70 to 82 of this title. The state treasurer is the custodian of the fund and is liable under his or her official bond for the faithful performance of all his or her duties in connection with the fund. The state treasurer shall establish and maintain within the fund the accounts specified in this article and such other accounts as may be necessary to reflect the administration of the fund by the division. Notwithstanding any other law, in lieu of or in addition to the assessment described in section 29-4-710.7, C.R.S., the division may pay amounts necessary and appropriate from the unemployment compensation fund to the

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(1) (a) There is hereby established the unemployment compensation fund, which is a
special fund administered by the division exclusively for the purposes of articles 70
to 82 of this title. The state treasurer is the custodian of the fund and is liable under
his or her official bond for the faithful performance of all his or her duties in
connection with the fund. The state treasurer shall establish and maintain within
the fund the accounts specified in this article and such other accounts as may be
necessary to reflect the administration of the fund by the division. Notwithstanding
any other law, in lieu of or in addition to the assessment described in section 29-4-710.7, C.R.S., the division may pay amounts necessary and appropriate from the
unemployment compensation fund to the Colorado housing and finance authority
for the repayment of the principal of bonds issued under section 29-4-710.7, C.R.S.,
and may apply amounts necessary and appropriate from the unemployment
compensation fund to the repayment of principal of bonds issued under section 8-71-103 (2)(d).

(b) The unrestricted year-end balance of the unemployment compensation
fund, created pursuant to paragraph (a) of this subsection (1), for the 1991-92 fiscal
year shall constitute a reserve, as defined in section 24-77-102 (12), C.R.S., and, for
purposes of section 24-77-103, C.R.S.:

(I) Any moneys credited to the unemployment compensation fund in any
subsequent fiscal year shall be included in state fiscal year spending, as defined in
section 24-77-102 (17), C.R.S., for such fiscal year; and

(II) Any transfers or expenditures from the unemployment compensation
fund in any subsequent fiscal year shall not be included in state fiscal year
spending, as defined in section 24-77-102 (17), C.R.S., for such fiscal year.

(2) The state treasurer, as treasurer and custodian of the unemployment
compensation fund, is hereby authorized and directed to cancel of record and
refuse to honor warrants or checks issued against any of the accounts established
with the unemployment compensation fund which have not been presented for
payment within one calendar year from the date of issue.

Colorado § 8-77-101 (Unemployment compensation fund - state treasurer custodian) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 36, 3rd Ex. Sess.: p. 31, � 9. CSA: C. 167A, � 9. L. 41: p. 780, � 9. L. 43: p. 605, � 5. L. 51: p. 811, � 8. CRS 53: � 82-7-1. C.R.S. 1963: � 82-7-1. L. 73: p. 965, � 1. L. 86: Entire section amended, p. 546, � 11, effective May 28. L. 93: (1) amended, p. 1506, � 4, effective June 6. L. 2012: (1)(a) amended, (HB 12-1120), ch. 27, p. 105, � 16, effective June 1. L. 2012, 1st Ex. Sess.: (1)(a) amended, (HB 12S-1002), ch. 2, p. 2428, � 11, effective June 1.