LEG00184

• Bill Number: HB83-1320
• Year: 1983
• Title: Concerning the Fiscal Policy of the State
• Legislation - Doc Type: Other CWCB Related Bills - Passed

sales and
twentieth
of March,

use tax revenues as soon as possible after the
day of each month thereafter, ending with the month
1984.

(e) The state treasurer shall apportion the interest
earned on funds in the fiscal emergency fund among its
contributing funds according to each fund's contribution to
the fiscal emergency fund; such interest shall be credited to
each fund or the general fund as provided by the statutes
governing interest for such funds.

(f) From time to time, during the period beginning on
the effective date of this section and ending on June 30,
1985, as orderly fiscal procedure shall require, and after
exhaustion of the cash revolving fund, the controller and the
state treasurer shall transfer, upon the written order of the
governor and after approval of the joint committee on deficit
prevention, from the fiscal emergency fund and to the general
fund, an amount sufficient to permit prompt disbursement from
the general fund of any appropriation made from the general
fund for any lawful purpose.

(g) All moneys in the fiscal emergency fund shall be
available to be considered as part of the year-end general
fund balance in the same manner as the general cash revolving
fund, for purposes of preventing a year-end deficit as
prohibited by sections 2 and 16 of article X of the state
constitution. Such amounts as are necessary to prevent a
year-end deficit, if any, as determined at the time of the
closing of the books for the 1982-83 fiscal year, shall be
transferred from the fiscal emergency fund to the general fund
upon the written order of the governor and after approval of
the joint committee on deficit prevention.

(2) (a) After the closing of the books for the 1982-83
fiscal year, all moneys in the fiscal emergency fund, other
than those required to remain available to meet cash flow
needs as provided in paragraph (d) of subsection (1) of this
section, shall be devoted to the restoration of moneys
transferred to the fiscal emergency fund pursuant to
paragraphs (a), (b), and (c) of subsection (1) of this
section, in the following order of priority: First, the
highway users tax fund; second, the Colorado water
conservation board construction fund; third, the severance tax
trust fund; and fourth, the lottery fund. The restoration of
such funds shall be made by the state treasurer and the
controller upon written order of the governor after approval
by the joint committee on deficit prevention. Such
restoration shall be made in a manner such that all of the
moneys which were diverted from the highway users tax fund are
completely restored thereto before any moneys are transferred
to the Colorado water conservation board construction fund;

PAGE 6-HOUSE BIll NO. 1320