(1) There is created in
the office of the state treasurer the limited gaming fund. The fund shall be
maintained and operated as follows:
(a) Except as specified in part 15 of this article 30, all revenues of the
division shall be paid into the limited gaming fund. Except for those expenses
related to sports betting as specified in part 15 of this article 30, all expenses of the
division and the commission, including the expenses of investigation and
prosecution relating to limited gaming, shall be paid from the fund.
(b) (I) All money paid into the limited gaming fund shall be available
immediately, without further appropriation, for the purposes of the fund. From the
money in the limited gaming fund, the state treasurer is hereby authorized to pay all
ongoing expenses of the commission, the department, the division, and any other
state agency from whom assistance related to the administration of this article 30
is requested by the commission, director, or executive director, except those
expenses related to sports betting, as specified in part 15 of this article 30. The
payment shall be made upon proper presentation of a voucher prepared by the
commission in accordance with other statutes governing payments of liabilities
incurred on behalf of the state. The payment shall not be conditioned on any
appropriation by the general assembly. Receipt of the payment shall constitute
spending authority by the division of gaming in the department.
(II) Except as specified in part 15 of this article 30:
(A) No claim for the payment of any expense of the commission, department,
division, or other state agency shall be made unless it is against the limited gaming
fund; and
(B) No other money of the state shall be used or obligated to pay the
expenses of the division or commission.
(III) The division shall be operated so that it shall be self-sustaining.
(c) (I) The state treasurer shall invest the money in the limited gaming fund
so long as said money is readily available to pay the expenses of the division.
Investments shall be those otherwise permitted by state law.
(II) (A) For state fiscal years commencing on or before July 1, 2024, and on or
after July 1, 2026, the state treasurer shall credit all interest and income derived
from the limited gaming fund to the limited gaming fund.
(B) For the state fiscal year commencing on July 1, 2025, in accordance with
section 24-36-114 (1), the state treasurer shall credit all interest and income derived
from the deposit and investment of money in the limited gaming fund to the general
fund.
(C) On June 30, 2025, the state treasurer shall transfer one million seven
hundred fifty-five thousand one hundred fifty-four dollars from the limited gaming
fund to the general fund. This subsection (1)(c)(II)(C) is repealed, effective July 1,
2026.
(d) Pursuant to section 9 (5)(b)(II) of article XVIII of the state constitution,
except for amounts required to be transferred to the extended limited gaming fund
pursuant to section 44-30-702, and except for an amount equal to all expenses of
the administration of this article 30 for the preceding two-month period, at the end
of each state fiscal year, the state treasurer shall distribute the balance remaining
in the limited gaming fund as follows:
(I) Fifty percent shall be referred to in this section as the state share and
shall be transferred to the state general fund or any other fund that the general
assembly shall provide in subsection (2) of this section;
(II) Twenty-eight percent shall be transferred to the state historical fund
created in section 9 (5)(b)(II) of article XVIII of the state constitution and distributed
as specified in section 9 (5)(b)(III) of article XVIII of the state constitution and
section 44-30-1201;
(III) Twelve percent shall be distributed to the governing bodies of Gilpin
county and Teller county in proportion to the gaming revenues generated in each
county; and
(IV) The remaining ten percent shall be distributed to the governing bodies
of the cities of Central, Black Hawk, and Cripple Creek in proportion to the gaming
revenues generated in each respective city.
(e) For state fiscal years commencing on or after July 1, 2023, revenue
collected by the state and distributed by the state treasurer pursuant to
subsections (1)(d)(II) to (1)(d)(IV) of this section is a collection for another
government, as defined in section 24-77-102 (1), for the purpose of determining
state fiscal year spending, as defined in section 24-77-102 (17).
(2) (a) Except as provided in subsection (2)(b) of this section, at the end of
the 2012-13 state fiscal year and at the end of each state fiscal year thereafter, the
state treasurer shall transfer the state share as follows:
(I) Fifteen million dollars to the Colorado travel and tourism promotion fund
created in section 24-49.7-106;
(II) For the 2014-15 state fiscal year and each state fiscal year thereafter,
except as otherwise provided in subsection (2)(d) of this section for the 2025-26
state fiscal year, five million five hundred thousand dollars to the advanced
industries acceleration cash fund created in section 24-48.5-117;
(III) (A) At the end of the 2021-22 state fiscal year and each state fiscal year
thereafter, five million six hundred eighty-nine thousand nine hundred thirty-eight
dollars, as annually increased by an amount equal to the percentage increase in the
state share as described in subsection (1)(d)(I) of this section from the previous
fiscal year to the local government limited gaming impact fund created in section
44-30-1301, plus an amount equal to the projected direct and indirect costs to
administer the local government limited gaming impact grant program set forth in
section 44-30-1301 (2)(a) for the upcoming fiscal year; except that such transfer
shall be made at the beginning of the state fiscal year, and any unspent money from
such transfer reverts to the local government limited gaming impact fund.
(B) If the state share does not increase from the previous fiscal year, then
the state treasurer shall transfer an amount equal to the previous fiscal year's
transfer.
(IV) Two million one hundred thousand dollars to the innovative higher
education research fund created in section 23-19.7-104;
(V) Two million dollars to the creative industries cash fund created in section
24-48.5-301 for purposes of the council on creative industries, including the
administration of the council;
(V.5) (A) For the state fiscal year 2021-22, three million dollars to the state
historical society strategic initiatives fund created in section 24-80-217.
(B) This section is repealed, effective July 1, 2027.
(VI) Five hundred thousand dollars to the Colorado office of film, television,
and media operational account cash fund created in section 24-48.5-116, for the
operation of the Colorado office of film, television, and media, for the performance-based incentive for film production in Colorado as specified in section 24-48.5-116,
and for the Colorado office of film, television, and media loan guarantee program as
specified in section 24-48.5-115;
(VI.5) For the 2022-23 state fiscal year and each state fiscal year thereafter,
two million five hundred thousand dollars to the responsible gaming grant program
cash fund created in section 44-30-1702 (8); and
(VII) Any amount of the state share that exceeds the transfers specified in
subsections (2)(a)(I) to (2)(a)(VI.5) of this section shall be transferred to the general
fund.
(b) If a transfer specified in subsections (2)(a)(I) to (2)(a)(VI) of this section
provides money for a purpose or program that is repealed or otherwise discontinued
as of the date of the transfer, then the transfer shall not be made to that particular
fund but shall instead be transferred to the state general fund.
(c) Repealed.
(d) (I) For the 2025-26 state fiscal year, the state treasurer shall transfer one
million eight hundred forty thousand dollars to the advanced industries
acceleration cash fund created in section 24-48.5-117.
(II) This subsection (2)(d) is repealed, effective July 1, 2027.
(3) Repealed.