§ 24-77-103.8 — Unrefunded state revenues

Colorado § 24-77-103.8

• Jurisdiction: Colorado
• Title 24: Government
• Art.: State Fiscal Policies Relating to Section 20

Text

(1) Any amount of state revenues
in excess of the limitation on state fiscal year spending for the 1996-97 fiscal year
that voters statewide did not authorize the state to retain and spend and that are
required to be refunded pursuant to section 20 (7)(d) of article X of the state
constitution, but that are not refunded by the state as required, shall be added to
and refunded with any state revenues in excess of the limitation on state fiscal year
spending for the 1998-99 fiscal year required to be refunded.

(2) Any amount of state revenues in excess of the limitation on state fiscal
year spending for the 1997-98 fiscal year and every fiscal year thereafter through
the 2000-01 fiscal year that voters statewide did not authorize the state to retain
and spend and that are required to be refunded pursuant to section 20 (7)(d) of
article X of the state constitution, but that are not refunded by the state as
required, shall be added to and refunded with any state revenues in excess of the
limitation on state fiscal year spending for the fiscal year following the fiscal year
for which state revenues in excess of the limitation on state fiscal year spending
were required to be refunded.

(3) Any amount of state revenues in excess of the limitation on state fiscal
year spending for the 2001-02 fiscal year and for every fiscal year thereafter that
voters statewide did not authorize the state to retain and spend and that are
required to be refunded pursuant to section 20 (7)(d) of article X of the state
constitution, but that are not refunded by the state as required, shall be carried
forward and added to the amount of any unrefunded state revenues in excess of
the limitation on state fiscal year spending for previous fiscal years that has been
carried forward. Said aggregate amount of unrefunded state revenues shall be
added to and refunded with subsequent fiscal years' state revenues in excess of
the limitation on state fiscal year spending that are required to be refunded;
however, the amount of state revenues in excess of the limitation on state fiscal
year spending that was required to be refunded but was not refunded during the
most recently completed fiscal year shall be applied first to the fiscal year
immediately following the most recently completed fiscal year.

Legislative History

Source: L. 2005: Entire section added, p. 131, � 2, effective April 5.