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<br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br /> <br />SECTION 25. Repeal. 37-60-121.3, Colorado Revised Statutes, <br />is repealed as follows: <br />37-60-121.3. Severance tax trust fund statewide water pIanning <br />account - creation. (1) TllG1G is hUGb} G1Gatcd ;n thG state tJ.GMtll)', as <br />palt of tI,G Colv1adv ,nto wnSG vation bOMd GonstJ.uGtion fl1,ld, thG <br />SGveran" tax tJ.ust ftlnd statevviJe vvatG, pl.l1l1ling aeCOUJlt. The state <br />treasUle, is heleh} autlloli:Z:GJ and dileetcd tv transf-o monc)'s <br />applOpliated fv1 p,og,.ams 01 p10jeGts vv;t1;;';l the Coloudo vvate! <br />GOIlSCl vation bomd PtlIStl,:111t to scetion 39-29-109 (1) (e) (I) (D), C.R.S., <br />to tl,e SGvGranee t!lX I1l1st ftl!ld statG",idG ~,atcr plMlIling accotlnt. <br />(2) ThG bOald is auth61i:Z:Gd to usc thc nlonc)'s in t1K seve1anee tax <br />htlst [wid statewidG ",ato plann;;lg aGGount for p,ojCGts in compliancc <br />",ith this altick. All iutClest dcr;ved from thc investment of m-ollC}S in <br />thG severanCG t!lX l1ust fund stato'lidc ",atG, plailillng aGGount sl,all be <br />credited tv tI,G COlOdldo >~atG1 Gooscr vatioll bOi11deonstrtlGt;o,lftlnd. An} <br />bali11lGc ,emaining;1I thG SG v CI aUGC tax b. tlst fUf,d state vv idG '" ate1 plall11ing <br />aGGotlnt at thG elld of all} fisGal )'GM shall remai;l in thG aGGount Md sl,all <br />110t lCvClt to thc gcnelal ft1lld 01 an} otk, fund. <br />SECTION 26. 39-29-109 (1) (c) (1) (D), Colorado Revised <br />Statutes, is amended to read: <br />39-29-109. Severance tax trust fund - created - administration <br />- use of moneys - repeal. (1) (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 of the severance <br />tax trust fund. The state minerals, energy, and geology policy advisory <br /> <br />-21- <br /> <br />SBOI-157 <br />