BOARD02492

• Board Meeting Date: 5/23/2005
• Description: Status of Legislation
• Board Meetings - Doc Type: Memo

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C.R.S., TO BE USED FOR THE PURPOSES SPECIFIED IN SUCH SECTION. THE
TRANSFER OF MONEYS FROM THE OPERATIONAL ACCOUNT OF TIlE
SEVERANCE TAX TRUST FUND PURSUANT TO THIS PARAGRAPH (b) SHALL BE

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J:.XtM.t'l rKUIVl Inn 1\..I::,\.lUl1\.L1VIJ:..l'l 1.;) ur '::"UD.t't'\JV\.U.I\..fU"n Vll) ur Yf\lV\\.J1V\l"M
(C) OF SUBSECTION (1) OF TIllS SECTION.

(c) NOTWITHSTANDING ANY PROVISION IN THIS SECTION OR ANY
OTHER PROVISION OF LAW TO TIlE CONTRARY, ON JULY 1,2005, TIlE STATE
TREASURER SHALL DEDUCT FOUR MILLION DOLLARS FROM TIlE OPERATIONAL
ACCOUNT OF THE SEVERANCE TAX TRUST FUND CREATED IN SUBPARAGRAPH
(II) OF PARAGRAPH (a) OF SUBSECTION (1) OF TIllS SECTION AND TRANSFER
SUCH SUM TO THE KANSAS V. COLORADO PLAINTIFF'S LEGAL COSTS FUND
CREATED IN SECTION 24-31-502 (2), C.R.S., TO BE USED FOR TIlE PURPOSES
SPECIFIED IN SUCH SECTION. THE TRANSFER OF MONEYS FROM THE
OPERATIONAL ACCOUNT OF THE SEVERANCE TAX TRUST FUND PURSUANT TO
THIS PARAGRAPH (c) SHALL BE EXEMPT FROM THE REQUIREMENTS OF
SUBPARAGRAPH (Ill) OFP ARAGRAPH ( c) OF SUBSECTION (1) OFTIlIS SECTION.

(d) Tms SUBSECTION (6) IS REPEALED, EFFECTIVE JULY 1,2007.

SECTION 3. 39-29-110, Colorado Revised Statutes, is amended
BY THE ADDITION OF A NEW SUBSECTION to read:

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39-29-110. Local government severance tax fund - creation -
administration - energy impact assistance advisory committee created
- repeal. (4) (a) NOTWITHSTANDING ANY PROVISION IN TIllS SECTION OR
ANY OTHER PROVISION OFLA W TO THE CONTRARY, AS SOON AS PRACTICABLE
ON OR AFrER THE EFFECTIVE DATE OF TIllS SUBSECTION (4), THE STATE
TREASURER SHALL DEDUCT THREE MILLION SEVEN HUNDRED NINETY -SIX
THOUSAND ONE HUNDRED lWENTY-NINE DOLLARS FROM THE LOCAL
GOVERNMENT SEVERANCE TAX FUND CREATED IN SUBPARAGRAPH (1) OF
PARAGRAPH (a) OF SUBSECTION (I) OF THIS SECTION AND TRANSFER SUCH
SUM TO THE KANSAS V. COLORADO PLAINi1FF'S DAMAGES PAYMENT FUND
CREATED IN SECTION 24-31-502 (I), C.R.S., TO BE USED FOR THE PURPOSES
SPECIFIED IN SUCH SECTION.

(b) THIS SUBSECTION (4) IS REPEALED, EFFECTIVE JULY 1, 2007.

SECTION 4.24-75-403 (1) (b), as enacted by House Bill 05-1001,
enacted at the First Regular Session of the Sixty-fIfth General Assembly,
is amended to read:

PAGE 4-SENATE BILL 05-226

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