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Last modified
8/15/2009 11:39:49 AM
Creation date
9/30/2006 8:11:07 PM
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Legislation
Bill Number
HB06-1400
Year
2006
Title
Concerning interbasin compacts, and, in connection therewith, approving the interbasin compact charter, altering the boundaires that define certain western slope basin roundtables, and making an appro
Legislation - Doc Type
Other CWCB Related Bills - Passed
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<br />days after June 7, 2005, the governor shall appoint a director of compact <br />negotiations, who WHICH OFFICE IS HEREBY CREATED IN THE OFFICE OF THE <br />GOVERNOR. THE DIRECTOR OF COMPACT NEGOTIATIONS shall act as the <br />overseer and caretaker of the compact negotiations process established in <br />this article. <br /> <br />SECTION 5. 39-29-109 (I) (c) (I) (D) and (I) (c) (III) (A), <br />Colorado Revised Statutes, are amended to read: <br /> <br />39-29-109. Severance tax trust fund - created - administration <br />- use of moneys - repeal. (I) (c) (I) For fiscal years commencing on and <br />after July 1, 1997, the executive director of the department of natural <br />resources shall submit with the department's budget request for each fiscal <br />year a list and description of the programs the executive director <br />recommends to be funded from the operational account ofthe severance tax <br />trust fund. The state minerals, energy, and geology policy advisory board <br />established pursuant to section 34-20-104, c.R.S., shall review the <br />executive director's recommendation before submittal. The general <br />assembly may appropriate moneys from the total moneys available in the <br />operational account of the severance tax trust fund to fund recommended <br />programs as follows: <br /> <br />(0) For programs within the Colorado water conservation board <br />AND FOR PURPOSES AUTHORIZED BY ARTICLE 75 OF TITLE 37, C.R.S., up to <br />five percent of the moneys in the operational account. <br /> <br />(III) (A) It is the intent of the general assembly that the operational <br />account of the severance tax trust fund maintain a state fiscal year end <br />balance equal to twice the current state fiscal year's operating appropriations <br />for the programs specified in this paragraph (c); EXCEPT THAT MONEYS <br />APPROPRIATED FOR PURPOSES AUTHORIZED BY ARTICLE 75 OF TITLE 37, <br />C.R.S., SHALL NOT BE CONSIDERED IN ESTABLISHING SUCH TWO-YEAR <br />RESERVE. Moneys may be appropriated or otherwise made available from <br />such two-year reserve only to offset temporary revenue reductions in the <br />programs specified in this paragraph ( c); except that, ifthe general assembly <br />determines that transfers of moneys from the reserve are needed during a <br />state revenue crisis, such transfers shall be a loan from the reserve to be <br />repaid as soon as moneys are available. This provision is intended to <br />mitigate the impact of fluctuations in the amount of revenue credited to the <br />fund from year to year so as to maintain current levels of service for such <br /> <br />PAGE 3-HODSE BILL 06-1400 <br />
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