BOARD00167 ‎(2)‎

• Board Meeting Date: 5/22/2007
• Description: WSP Section - Platte River Recovery Updates
• Board Meetings - Doc Type: Memo

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ADDITION OF THE FOLLOWING NEW SUBPARAGRAPHS. to read:
39-29-109. Severance tax trust fund - created - administration
_ use of moneys - definitions - repeal. (1) (k) (III) SUBPARAGRAPHS (I)
AND (II) OF this oaragraoh (k) is ARE reoealed. effective Julv 1. 2007.
SUBPARAGRAPHS (IV)' (V)' AND (VI). AND (VII) OF THIS PARAGRAPH (k)
ARE REPEALED. EFFECTIVE JULY I. 20 II.
(IV) NOTWITHSTANDING ANY OTHER PROVISION OF THIS SECTION.
ON OR AFTER JULY 1. 2007. IF THE JUNE 2007 OUARTERLY REVENUE
FORECAST BY LEGISLATIVE COUNCIL STAFF FOR THE AGGREGATE OF FISCAL
YEAR 2006-2007 AND 2007-2008 SEVERANCE TAX COLLECTIONS
INCREASES ABOVE SUCH OUARTERL Y REVENUE FORECAST FOR MARCH
2007. THE STATE TREASURER SHALL DEDUCT FROM THE OPERATIONAL
ACCOUNT OF THE SEVERANCE TAX TRUST FUND CREATED IN
SUBP ARAGRAPH (II) OF PARAGRAPH (a) OF THIS SUBSECTION ( I) THE
FOLLOWING:
~ ONE-HALF OF THE AMOUNT OF SUCH INCREASE THAT WOULD
OTHERWISE BE CREDITED TO THE OPERATIONAL ACCOUNT. UP TO THREE
MILLION DOLLARS AND TRANSFER SUCH SUM TO THE CAPIT AL ACCOUNT OF
THE SPECIES CONSERVATION TRUST FUND CREATED IN SECTION 24-33-111
(2) (a). C.R.S.:
ml ONE-HALF OF THE AMOUNT OF SUCH INCREASE THAT WOULD
OTHERWISE BE CREDITED TO THE OPERATIONAL ACCOUNT. UP TO THREE
MILLION DOLLARS AND TRANSFER SUCH SUM TO THE OPERATIONS AND
MAINTENANCE ACCOUNT OF THE SPECIES CONSERVATION TRUST FUND
CREATED IN SECTION 24-33-111 (2) (a). C.R.S.
(V) NOTWITHSTANDING ANY OTHER PROVISION OF THIS SECTION.
ON OR AFTER JULY I. 2008. THE ST ATE TREASURER SHALL DEDUCT FROM

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