§ 24-61-202 — La Plata county to establish fund - requirements

Colorado § 24-61-202

• Jurisdiction: Colorado
• Title 24: Government
• Art.: Taxation Compact Between the

Text

(1) The board
of county commissioners of La Plata county shall establish a fund to be known as
the tribal property impact mitigation fund, referred to in this part 2 as the impact
fund, to which all moneys contributed, transferred, appropriated, or otherwise
made available for mitigating the impacts of acquisitions of property by the
Southern Ute Indian tribe on local governments pursuant to section 3.02 of the
taxation compact between the Southern Ute Indian tribe, La Plata county, and the
state of Colorado, as set forth in House Bill 96-1367, enacted at the second regular
session of the sixtieth general assembly, shall be deposited.

(2) Moneys from any source, including but not limited to the state or the
United States, may be deposited in the impact fund and released to La Plata county
for distribution to taxing authorities within La Plata county to mitigate the revenue
impacts addressed in section 3.02 of the taxation compact between the Southern
Ute Indian tribe, La Plata county, and the state of Colorado, as set forth in House
Bill 96-1367, enacted at the second regular session of the sixtieth general
assembly.

(3) The impact fund shall be under the control of a three-member board
comprised of the chairman of the La Plata county board of county commissioners,
the chairman of the Southern Ute Indian tribal council, and the governor, or their
respective designees.

(4) Moneys may be distributed from the impact fund upon an affirmative vote
of a majority of the members of the board described in subsection (3) of this section
and all distributions shall be made in accordance with the direction of said board.

Legislative History

Source: L. 96: Entire part added, p. 1703, � 1, effective June 3.