§ 26-2-113 — Funds for old age pensions

Colorado § 26-2-113

• Jurisdiction: Colorado
• Title 26: Human
• Art.: Public Assistance

Text

(1) The state old age pension fund
and the moneys allocated thereto pursuant to the provisions of article XXIV of the
state constitution shall include amounts received from the incorporation fees and
inheritance taxes imposed pursuant to subsection (2) of this section.

(2) (a) In addition to all other fees, charges, and impositions now fixed by law,
there shall be assessed and collected, by the governmental department, person, or
party in charge under whose jurisdiction the present collection is now required by
law, the following fees, charges, sums, and impositions, which fees, charges, sums,
and impositions shall be set aside, allocated, and allotted to the old age pension
fund:

(I) Ten percent additional amount of the fees which are due and paid to the
secretary of state upon incorporation of any corporation or association for profit;
and

(II) Ten percent additional upon the amount of any tax payable under the
provisions of the inheritance tax laws of this state.

(b) In computing the amount of the additional tax or fee as provided in
paragraph (a) of this subsection (2), the nearest multiple to five cents shall be taken
in all cases.

(3) Any and all of such funds collected by any state official or state
department pursuant to subsection (2) of this section shall be paid over by such
official or department to the state treasurer, who on the first day of each month
shall divide and pay the same into each of the county old age pension accounts of
the county social services funds in this state on the pro rata basis which the
population of the respective county has to the population of the entire state
according to the last official United States census.

Legislative History

Source: L. 73: R&RE, p. 1187, � 2. C.R.S. 1963: � 119-3-13.