Colorado § 39-28-110 Distribution of tax collected

Colorado Statutes

§ 39-28-110 — Distribution of tax collected

Colorado·Title 39 Taxation·Art. Cigarette Tax

(1)(a) All money received and collected in payment of the tax imposed by this article 28, except license fees received under section 39-28-102 and the money collected pursuant to section 39-28-103.5, shall be transmitted to the state treasurer who shall distribute the money as follows: Fifteen percent to the general fund and eighty-five percent to the old age pension fund.

(b)The net revenue that is credited to the old age pension fund created in section 1 of article XXIV of the state constitution in accordance with subsection

(1)(a) of this section and section 2 (a) of article XXIV of the state constitution is transferred to the general fund in accordance with section 7 (c) of article XXIV of the state constitution. Of this money or the fifteen percent that is directly credited

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(1) (a) All money received and
collected in payment of the tax imposed by this article 28, except license fees
received under section 39-28-102 and the money collected pursuant to section 39-28-103.5, shall be transmitted to the state treasurer who shall distribute the money
as follows: Fifteen percent to the general fund and eighty-five percent to the old
age pension fund.

(b) The net revenue that is credited to the old age pension fund created in
section 1 of article XXIV of the state constitution in accordance with subsection
(1)(a) of this section and section 2 (a) of article XXIV of the state constitution is
transferred to the general fund in accordance with section 7 (c) of article XXIV of
the state constitution. Of this money or the fifteen percent that is directly credited
to the general fund, the state treasurer shall transfer an amount equal to the total
revenue that is attributable to the tax imposed under section 39-28-103.3 and the
tax increase set forth in section 39-28-103 approved by the voters at the statewide
election in November 2020 to the 2020 tax holding fund created in section 24-22-118 (1).

(2) All moneys received and collected in payment of the tax imposed
pursuant to section 39-28-103.5 shall be transmitted to the state treasurer for
deposit in the tobacco tax cash fund created in section 24-22-117, C.R.S.

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Legislative History

Source: L. 64: p. 825, � 10. C.R.S. 1963: � 138-8-10. L. 2005: Entire section amended, p. 909, � 8, effective June 2; entire section amended, p. 925, � 9, effective June 2. L. 2020: (1) amended, (HB 20-1427), ch. 248, p. 1191, � 8, effective January 1, 2021.