C.R.S. Section 24-75-302.5
Controlled maintenance

  • trust fund
  • legislative declaration

(1)

In light of the fluctuating amounts of state revenues that have been available for controlled maintenance purposes in the past, the general assembly hereby finds and declares that a stable, predictable, and consistent source of revenues for controlled maintenance projects will better allow the state to fund such projects on a timely basis and avoid higher replacement costs. In order to provide a consistent source of revenues, the general assembly hereby further finds and declares that it is appropriate to create a trust fund which will generate an annual amount of interest which will be dedicated to controlled maintenance.

(2)

Intentionally left blank —Ed.

(a)

There is hereby created the controlled maintenance trust fund, the principal of which shall consist of any general fund revenues appropriated or transferred thereto by law, moneys credited thereto pursuant to section 24-30-1310, and proceeds of leveraged leasing agreements deposited thereto pursuant to section 24-82-1003 (3). For the 1996-97 fiscal year and fiscal years thereafter, the principal of the trust fund may constitute all or some portion of the state emergency reserve established pursuant to section 24-77-104 and may be expended in any given fiscal year as provided in said section. The principal of the trust fund shall not be expended or appropriated for any purpose other than use as part of the state emergency reserve. The state treasurer may in the state treasurer’s discretion deposit, redeposit, invest, and reinvest moneys accrued or accruing to the controlled maintenance trust fund in the types of deposits and investments authorized in sections 24-36-109, 24-36-112, and 24-36-113.

(b)

Beginning September 1, 1994, and on September 1 of each year thereafter, the state treasurer shall certify to the general assembly the amount of interest actually earned on the principal of the trust fund during the previous fiscal year and shall also provide an estimate of the interest expected to be earned on such principal during the current fiscal year.

(c)

Beginning with the 1996-97 fiscal year, the interest earned on the principal of the trust fund balance may be appropriated for controlled maintenance, as defined in section 24-30-1301 (4), as follows: Up to fifty percent of the amount of interest expected to be earned on the principal of the trust fund during the current fiscal year as estimated by the state treasurer and the amount of interest actually earned on the principal of the trust fund during the previous fiscal year as certified by the state treasurer, not to exceed a maximum of thirty-five million dollars in any fiscal year.

(d)

The principal of the trust fund and any unappropriated interest earned on the principal of the trust fund at the close of any fiscal year must remain in the trust fund and may not revert to the general fund.
(e)(Deleted by amendment, L. 2004, p. 261, § 1, effective April 5, 2004.)(f) Repealed.

(2.3)

For the fiscal year commencing July 1, 2017, the state treasurer shall transfer twenty million dollars from the general fund to the controlled maintenance trust fund.

(2.4)

For the fiscal year commencing July 1, 2018, the state treasurer shall transfer thirty million dollars from the general fund to the controlled maintenance trust fund.

(2.5)

For the state fiscal year commencing July 1, 2019, the state treasurer shall transfer forty-two million dollars from the general fund to the controlled maintenance trust fund.

(2.7)

Intentionally left blank —Ed.

(a)

On December 3, 2020, the state treasurer shall transfer one hundred million dollars from the general fund to the controlled maintenance trust fund.

(b)

Intentionally left blank —Ed.

(I)

Prior to July 1, 2021, the governor may transfer to the disaster emergency fund, created in section 24-33.5-706 (2)(a), any money in the controlled maintenance trust fund transferred thereto in accordance with subsection (2.7)(a) of this section, if the money available in the disaster emergency fund is insufficient for the public health and emergency response costs associated with the COVID-19 pandemic emergency. No other transfers of this money to the disaster emergency fund are permitted.

(II)

If, after the date of a transfer to the disaster emergency fund under subsection (2.7)(b)(I) of this section, the state receives a reimbursement from the federal government for any expenditures from the disaster emergency fund, the state treasurer shall deposit the reimbursement into the controlled maintenance trust fund; except that the deposited amount shall not exceed the amount transferred under subsection (2.7)(b)(I) of this section.

(3)

Notwithstanding any other provision of this section to the contrary:

(a)

On July 1, 2001, the state treasurer and the controller shall transfer an amount equal to the principal balance of the trust fund as of June 30, 2001, to the general fund to be expended or transferred as provided by law.

(b)

Repealed.

(4)

Notwithstanding any other provision of this section to the contrary, on March 27, 2002, the state treasurer and the controller shall transfer nine million five hundred thousand dollars from the trust fund to the general fund.

(5)

Notwithstanding any other provision of this section to the contrary, on June 1, 2006, the state treasurer and controller shall transfer one hundred eighty-five million six hundred twenty-seven thousand eight hundred one dollars from the trust fund to the general fund.

(6)

Intentionally left blank —Ed.

(a)

Notwithstanding any provision of this section to the contrary, on February 1, 2006, the state treasurer and the controller shall transfer three million one hundred forty-four thousand one hundred sixty-two dollars from the interest earned on the principal of the trust fund balance to the general fund to be used to increase the general fund appropriation for safety net provider payments for private hospitals under the Colorado indigent care program created in part 1 of article 3 of title 25.5, C.R.S.

(b)

If, on February 1, 2006, there is not sufficient interest earned on the principal of the trust fund to make the transfer required by paragraph (a) of this subsection (6), the state treasurer and controller shall transfer the available interest as of February 1, 2006, and shall transfer the remaining interest due as the interest accrues.

(7)

Notwithstanding any provision of this section to the contrary, on July 1, 2009, the state treasurer shall deduct eight hundred three thousand six hundred ten dollars from the trust fund and transfer such sum to the general fund.

(8)

Notwithstanding any provision of this section to the contrary, on July 1, 2014, the state treasurer shall deduct nine million six hundred seventy-two thousand dollars from the trust fund and transfer such sum to the general fund for the purpose of supporting a fiscal year 2014-15 appropriation for the Colorado firefighting air corps created in section 24-33.5-1228.

(9)

Notwithstanding any provision of this section to the contrary, on July 1, 2016, the state treasurer and the controller shall transfer one million dollars from the interest earned on the principal of the trust fund balance to the capital construction fund created in section 24-75-302.

(10)

Notwithstanding any provision of this section to the contrary, on July 1, 2021, the state treasurer and the controller shall transfer one hundred ten million dollars from the general fund to the controlled maintenance trust fund for controlled maintenance budget requests prioritized by the office of the state architect as level one and level two priority projects under section 24-30-1303 (1)(t)(II).

Source: Section 24-75-302.5 — Controlled maintenance - trust fund - legislative declaration, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-24.­pdf (accessed Oct. 20, 2023).

24‑75‑101
Deficiency in revenue
24‑75‑102
When appropriations expended - balance
24‑75‑103
Exceptions to transfer of balances
24‑75‑104
Gifts and bequests to state institutions of higher education - effect
24‑75‑105
Transfers required to implement conditional and centralized appropriations - repeal
24‑75‑106
Transfers between departments of health care policy and financing and human services for materially similar items of appropriation for medicaid programs - limitation - repeal
24‑75‑106.5
Transfers between departments of health care policy and financing and human services for corresponding items of appropriation - limitations - repeal
24‑75‑107
Cash fund transfers pursuant to sections 24-75-105 and 24-75-106 - repeal
24‑75‑108
Intradepartmental transfers between appropriations - repeal
24‑75‑109
Controller may allow expenditures in excess of appropriations - limitations - appropriations for subsequent fiscal year restricted - repeal
24‑75‑110
Limitation on judicial department - repeal
24‑75‑111
Additional authority for controller to allow expenditures in excess of appropriations - limitations - appropriations for subsequent fiscal year restricted
24‑75‑111.5
Additional authority for controller to allow expenditures for capital construction items in certain circumstances - definition
24‑75‑112
Annual general appropriation act - headnote definitions - general provisions - footnotes
24‑75‑112.5
Appropriation clauses - general provisions - legislative declaration - definition
24‑75‑113
2010 bills to increase state revenue - prohibition on hiring of new state employees
24‑75‑114
Appropriations for utilities - roll-forward spending authority - definition
24‑75‑115
Use of state funds - marketing featuring elected officials - prohibition
24‑75‑201
General fund - general fund surplus - custodial money
24‑75‑201.1
Restriction on state appropriations - legislative declaration - definitions
24‑75‑201.2
Restriction on state spending - unrestricted general fund year-end balances
24‑75‑201.3
Procedures relating to revenue estimates
24‑75‑201.5
Revenue shortfalls - required actions by the governor with respect to the reserve
24‑75‑201.7
Enforcement of state spending restriction - punitive or exemplary damages - property tax relief fund - creation
24‑75‑202
Imprest cash accounts
24‑75‑203
Loans and advances
24‑75‑204
Reports
24‑75‑205
Insurance and retirement reserves
24‑75‑206
Legislative declaration
24‑75‑207
Definitions
24‑75‑208
Investment of treasury funds
24‑75‑209
Payment of general fund warrants or checks
24‑75‑210
Reports to governor
24‑75‑219
Transfers - transportation - capital construction - definitions - repeal
24‑75‑220
State education fund - transfers - surplus - legislative declaration
24‑75‑225
Care subfund - creation - administration - transfer - legislative declaration
24‑75‑226
“American Rescue Plan Act of 2021” cash fund - creation - recipient funds - limitations - reporting - legislative declaration - definitions - repeal
24‑75‑227
Revenue loss restoration cash fund - creation - allowable uses - definitions - repeal
24‑75‑228
Economic recovery and relief cash fund - creation - allowable uses - interim task force - report - legislative declaration - definitions - repeal
24‑75‑229
Affordable housing and home ownership cash fund - creation - allowable uses - task force - legislative declaration - definitions - repeal
24‑75‑230
Behavioral and mental health cash fund - creation - allowable uses - task force - definitions - repeal
24‑75‑231
Workers, employers, and workforce centers cash fund - creation - allowable uses - definitions - repeal
24‑75‑232
“Infrastructure Investment and Jobs Act” cash fund - creation - allowable uses - report - legislative declaration - definitions - repeal
24‑75‑301
Definitions
24‑75‑302
Capital construction fund - capital assessment fees - calculation - information technology capital account
24‑75‑302.5
Controlled maintenance - trust fund - legislative declaration
24‑75‑303
Appropriation for capital construction
24‑75‑304
Legislative declaration
24‑75‑305
Transfers from capital construction fund
24‑75‑307
Capitol complex master plan implementation fund - creation - transfers for fund
24‑75‑401
Cash funds abolished
24‑75‑402
Cash funds - limit on uncommitted reserves - reduction in the amount of fees - exclusions - definitions
24‑75‑403
Capital reserve - creation - annual appropriation - definitions
24‑75‑601
Definitions
24‑75‑601.1
Legal investments of public funds - definition
24‑75‑601.2
Prior investments valid
24‑75‑601.3
Remedial actions - investments not made in conformance with statute
24‑75‑601.4
Liability of officials of public entities
24‑75‑601.5
Liability for sale of unlawful investments to public entities
24‑75‑602
Bonds of housing authority as legal investments
24‑75‑603
Depositories
24‑75‑604
Investments in bonds issued by member institutions of the farm credit system
24‑75‑605
Legal investments - cities of twenty-five thousand or more population - limitation in class of investments
24‑75‑701
Definitions
24‑75‑702
Local governments - authority to pool surplus funds
24‑75‑703
Local government investment pooling - trust method - resolution - filing requirements
24‑75‑704
Investments - limitations
24‑75‑705
Board of trustees - duties - liabilities
24‑75‑706
Custodian - location - unlawful activities
24‑75‑707
Investment adviser - duties - unlawful activities
24‑75‑708
Administrator - duties - unlawful activities
24‑75‑709
Administration and enforcement
24‑75‑901
Short title
24‑75‑902
Legislative declaration
24‑75‑903
Definitions
24‑75‑904
Computations
24‑75‑905
Authority to issue and sell notes
24‑75‑906
Limitation on amount of notes
24‑75‑907
Form and terms of notes
24‑75‑908
Execution of notes
24‑75‑909
Manner of sale of notes
24‑75‑910
Investment or deposit of proceeds - income therefrom
24‑75‑911
No debt created
24‑75‑912
Notes as legal investments and eligible collateral
24‑75‑913
Construction with other statutes
24‑75‑914
State auditor - report
24‑75‑915
Saving clause
24‑75‑1001
Higher education fund
24‑75‑1101
Legislative declaration
24‑75‑1102
Definitions
24‑75‑1103
Policy on use of tobacco settlement funds
24‑75‑1104.5
Use of settlement money - programs - repeal
24‑75‑1107
Loss of disputed payments - authorization for transfers to tobacco litigation settlement cash fund
24‑75‑1301
Definitions
24‑75‑1302
State agencies - information obtained with grants
24‑75‑1303
Report to general assembly
24‑75‑1305
Programs or services reliant on grants - statutory reauthorization of program
24‑75‑1401
Indirect costs excess recovery fund - creation - departmental accounts - use of fund - definitions - repeal
Green check means up to date. Up to date

Current through Fall 2024

§ 24-75-302.5’s source at colorado​.gov