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<br />1 39-29-109. Severance tax trust fund - created - administration e <br />2 _ use of moneys - repeal. (l) (c) (ill) (A) It is the intent of the general <br />3 assembly that the operational account of the severance tax trust fund <br />4 maintain a state fiscal year end balance equal to twice the current state <br />S fiscal year's operating appropriations for the programs specified in this <br />6 paragraph (c). Moneys may be appropriated or otherwisc made available <br />7 from such two-year reserve only to offset temporary revenue reductions <br />8 in the programs specified in this paragraph (c); except that, if the general <br />9 assembly determines that transfers of moneys from the reserve are needed <br />10 during a state revenue crisis, such transfers shall be a loan from the <br />11 reserve to be repaid as soon as moneys are available. This provision is <br />l2 intended to mitigate the impact of fluctuations in the amount of revenue <br />13 credited to the fund from year to year so as to maintain current levels of <br />14 service for such programs. e <br />IS (B) NOTWITHSTANDING ANY PROVISION OF SUB-SUBPARAGRAPH <br />16 (A) OF THIS SUBPARAGRAPH (ill) TO THE CONTRARY, ON JULY 1,2005, THE <br />17 STATE TREASURER SHALL TRANSFER ONE MILLION FIVE HUNDRED <br />l8 THOUSAND DOLLARS FROM THE RESERVE TO THE WATER EFFICIENCY <br />19 GRANT PROGRAM CASH FUND CREATED IN SECTION 37 -60-126 (12), C.R.S., <br />20 FOR USE IN FUNDING GRANTS IN ACCORDANCE WITH SAID SECTION. THE <br />21 MONEYS TRANSFERRED PURSUANT TO THIS SUB-SUBPARAGRAPH (B) SHALL <br />22 BE IN ADDffiON TO AND SHALL NOT REPLACE ANY MONEYS APPROPRIATED <br />23 TO THE COLORADO WATER CONSERVATION BOARD PURSUANT TO <br />24 SUB-SUBPARAGRAPH (D) OF SUBPARAGRAPH (I) OF TillS PARAGRAPH (c). <br />25 Tms SUB-SUBPARAGRAPH (B) IS REPEALED, EFFECTIVE JULY 1, 2008. <br />26 SECTION 3. 37-60-127, Colorado Revised Statutes, is amended <br />27 to read: I <br /> <br />-6- <br /> <br />HB05-l254 <br />