(1) (a)
(I) Except for proceeds and payments allocated to the state land board trust
administration fund pursuant to section 36-1-145 (3) or credited to the public school
capital construction assistance fund created in section 22-43.7-104 (1), C.R.S.,
pursuant to section 22-43.7-104 (2)(b)(I), C.R.S., and except as provided in
subparagraph (II) of this paragraph (a), proceeds received by the state for the sale
of timber on public school lands, lease payments and rental payments for said
lands, rental payments for the use and occupation of the surface of said lands, and
rentals or lease payments for sand, gravel, clay, stone, coal, oil, gas, geothermal
resources, gold, silver, or other minerals on said lands shall be credited to the
public school income fund for distribution as provided by law.
(II) (A) Except as provided in subsections (1)(a)(II)(B) and (1)(a)(II)(C) of this
section, for the 2010-11 state fiscal year and each state fiscal year thereafter, the
proceeds received by the state for the sale of timber on public school lands, lease
payments and rental payments for said lands, rental payments for the use and
occupation of the surface of said lands, and rentals or lease payments for sand,
gravel, clay, stone, coal, oil, gas, geothermal resources, gold, silver, or other
minerals on said lands other than proceeds, rentals, and payments allocated to the
state land board trust administration fund pursuant to section 36-1-145 (3) or
credited to the public school capital construction assistance fund created in section
22-43.7-104 (1), pursuant to section 22-43.7-104 (2)(b)(I), shall be credited to the
permanent school fund and shall become part of the principal of the permanent
school fund.
(B) For the 2012-13 state fiscal year, all proceeds received by the state for
the sale of timber on public school lands, lease payments and rental payments for
said lands, rental payments for the use and occupation of the surface of said lands,
and rentals or lease payments for sand, gravel, clay, stone, coal, oil, gas,
geothermal resources, gold, silver, or other minerals on said lands other than
proceeds, rentals, and payments allocated to the state land board trust
administration fund pursuant to section 36-1-145 (3) or credited to the public school
capital construction assistance fund created in section 22-43.7-104 (1), C.R.S.,
pursuant to section 22-43.7-104 (2)(b)(I), C.R.S., shall be transferred to the state
public school fund created in section 22-54-114, C.R.S.
(C) For the 2020-21 state fiscal year, all proceeds received by the state for
the sale of timber on public school lands, lease payments and rental payments for
said lands, rental payments for the use and occupation of the surface of said lands,
and rentals or lease payments for sand, gravel, clay, stone, coal, oil, gas,
geothermal resources, gold, silver, or other minerals on said lands other than
proceeds, rentals, and payments allocated to the state land board trust
administration fund pursuant to section 36-1-145 (3) or credited to the public school
capital construction assistance fund created in section 22-43.7-104 (1), pursuant to
section 22-43.7-104 (2)(b)(I), shall be transferred to the state public school fund
created in section 22-54-114.
(b) (I) Except for royalties and other payments allocated to the state land
board trust administration fund pursuant to section 36-1-145 (3) or credited to the
public school capital construction assistance fund created in section 22-43.7-104
(1), C.R.S., pursuant to section 22-43.7-104 (2)(b)(I), C.R.S., except as provided in
subparagraph (II) of this paragraph (b), and except as provided in paragraph (c) of
this subsection (1), royalties and other payments for the depletion or extraction of a
natural resource on said lands shall be credited to the permanent school fund.
(II) (A) Repealed.
(B) For the 2009-10 state fiscal year, up to three million dollars of royalties
and other payments for the depletion or extraction of a natural resource on said
lands, other than royalties and other payments allocated to the state land board
trust administration fund pursuant to section 36-1-145 (3) or credited to the public
school capital construction assistance fund created in section 22-43.7-104 (1),
C.R.S., pursuant to section 22-43.7-104 (2)(b)(I), C.R.S., shall be credited to the state
board of land commissioners investment and development fund created in section
36-1-153.
(C) For the 2010-11 state fiscal year, up to four million dollars of royalties and
other payments for the depletion or extraction of a natural resource on said lands,
other than royalties and other payments allocated to the state land board trust
administration fund pursuant to section 36-1-145 (3) or credited to the public school
capital construction assistance fund created in section 22-43.7-104 (1), C.R.S.,
pursuant to section 22-43.7-104 (2)(b)(I), C.R.S., shall be credited to the state board
of land commissioners investment and development fund created in section 36-1-153.
(D) For the 2011-12 state fiscal year and each state fiscal year thereafter, up
to five million dollars of royalties and other payments for the depletion or
extraction of a natural resource on said lands, other than royalties and other
payments allocated to the state land board trust administration fund pursuant to
section 36-1-145 (3) or credited to the public school capital construction assistance
fund created in section 22-43.7-104 (1), C.R.S., pursuant to section 22-43.7-104
(2)(b)(I), C.R.S., shall be credited to the state board of land commissioners
investment and development fund created in section 36-1-153.
(E) Subject to the limits specified in sub-subparagraphs (B), (C), and (D) of
this subparagraph (II), the state board of land commissioners shall determine the
exact amount of royalties and other payments for the depletion or extraction of a
natural resource on public school lands that is to be credited to the state board of
land commissioners investment and development fund pursuant to this
subparagraph (II).
(F) For the 2022-23 state fiscal year, in addition to the money credited to the
public school capital construction assistance fund created in section 22-43.7-104
(1) pursuant to section 22-43.7-104 (2)(b)(I), ten million dollars of royalties and other
payments for the depletion or extraction of a natural resource on the lands shall be
credited to the public school capital construction assistance fund.
(c) (I) For the 2011-12 state fiscal year, the first twenty-one million dollars of
royalties and other payments for the depletion or extraction of a natural resource
on public school lands in excess of the moneys credited to the state land board
trust administration fund pursuant to section 36-1-145 (3), credited to the public
school capital construction assistance fund created in section 22-43.7-104 (1),
C.R.S., pursuant to section 22-43.7-104 (2)(b)(I), C.R.S., and credited as specified in
subparagraph (II) of paragraph (b) of this subsection (1) shall be transferred to the
state public school fund created in section 22-54-114, C.R.S. Any amount of
royalties and other payments for the depletion or extraction of a natural resource
on public school lands in excess of the amounts described in this subparagraph (I)
shall be credited to the permanent school fund and shall become part of the
principal of the permanent school fund.
(II) For the 2012-13 state fiscal year, the first twenty-seven million dollars of
royalties and other payments for the depletion or extraction of a natural resource
on public school lands in excess of the moneys credited to the state land board
trust administration fund pursuant to section 36-1-145 (3), credited to the public
school capital construction assistance fund created in section 22-43.7-104 (1),
C.R.S., pursuant to section 22-43.7-104 (2)(b)(I), C.R.S., and credited as specified in
subparagraph (II) of paragraph (b) of this subsection (1) shall be transferred to the
state public school fund created in section 22-54-114, C.R.S. Any amount of
royalties and other payments for the depletion or extraction of a natural resource
on public school lands in excess of the amounts described in this subparagraph (II)
shall be credited to the permanent school fund and shall become part of the
principal of the permanent school fund.
(III) For the 2020-21 state fiscal year, royalties and other payments for the
depletion or extraction of a natural resource on public school lands not allocated to
the state land board trust administration fund pursuant to section 36-1-145 (3), not
credited to the public school capital construction assistance fund created in section
22-43.7-104 (1), pursuant to section 22-43.7-104 (2)(b)(I), and not credited as
specified in subsection (1)(b)(II) of this section shall be transferred to the state
public school fund created in section 22-54-114.
(2) (a) Proceeds received by the state for the sale of timber on lands
belonging to any of the state trust funds other than on public school lands, lease
payments and rental payments for said lands, rental payments for the use and
occupation of the surface of said lands, and rentals or lease payments for sand,
gravel, clay, stone, coal, oil, gas, geothermal resources, gold, silver, or other
minerals on said lands shall be credited to the proper trust income fund.
(b) Royalties and other payments for the depletion or extraction of a natural
resource on said lands shall be credited to the proper permanent trust fund.
(3) This section is subject to the provisions of section 36-1-145.