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1996 <br /> 7 <br /> Cliff Halt={ <br /> Dora Relaford_0 Al <br /> SENATE BILL 96-170 <br /> BY SENATORS Bishop, L. Powers, and Tebedo; ..:_ . <br /> also REPRESENTATIVES Dyer, Acquafresca, -Chlouber, EntzFriednash, <br /> Lamborn, Paschall;,.Schwarz, and Taylor. <br /> CONCERNING - THE SEVERANCE TAX TRUST FUND, AND . MAKING AN <br /> APPROPRIATION IN CONNECTION THEREWITH. <br /> Be-it enacted by the-General Assembly of the State of Colorado: P NA <br /> SECTION 1. 39-29-109-- (1) and (3), Colorado Revised <br /> Statutes, 1994 Repl. Vol., are amended to read: <br /> 39-29-109. Severance tax trust fund - created - <br /> administration - use of moneys. (1) (a) There is hereby created <br /> in the office of the state treasurer the severance tax trust fund. <br /> The fund is to be perpetual and held in trust as a replacement for <br /> depleted natural' resources and * for the' development and <br /> conservation of the state's water resources pursuant to sections <br /> 37-60-106 '(1) (j) and (1) (1);, 37-60-119, and:37-60-122, C.R.S., <br /> AND- FOR THE 'USE IN FUNDING PROGRAMS THAT PROMOTE*AND ENCOURAGE <br /> SOUND =NATURAL- RESOURCE PLANNING, MANAGEMENE:;�:AND• DEVELOPMENT <br /> RELATED TO MINERALS, ENERGY, GEOLOGY-,.AND>WATER :. State-severance <br /> tax receipts -shall be credited:to!the-severance tax trust fund as <br /> provided'4h -,section-.39-29-108. ALL.;:INCQHEA AERIVED_' FROM-THE <br /> DEPOSIT AND. INVESTMENT OF THE MONEYSIN-:THE SEVERANCE TAX TRUST <br /> FUND SHALL BE CREDITED TO THE GENERAL FUND. :;AT -THE END OF ANY <br /> FISCAL YEAR, ALL UNEXPENDED AND UNENCUMBERED.,-MQNEYS IN THE FUND <br /> SHALL REMAIN THEREIN AND SHALL NOT BE CREDITED OR TRANSFERRED TO <br /> THE GENERAL FUND OR ANY OTHER FUND..- ALL MONEYS -IN THE FUND SHALL <br /> BE SUBJECT TO APPROPRIATION BY THE GENERAL ASSEMBLY FOR THE <br /> FOLLOWING PURPOSES: <br /> Capital lefters indicate new material added to existing statutes; <br /> dashes through words indicate deletions from existing'statutes and <br /> such material not part of act. <br />