C.R.S.
Section 44-30-701
Limited gaming fund
- created
- repeal
(1)
There is hereby created in the office of the state treasurer the limited gaming fund. The fund shall be maintained and operated as follows:(a)
Except as specified in part 15 of this article 30, all revenues of the division shall be paid into the limited gaming fund. Except for those expenses related to sports betting as specified in part 15 of this article 30, all expenses of the division and the commission, including the expenses of investigation and prosecution relating to limited gaming, shall be paid from the fund.(b)
Intentionally left blank —Ed.(I)
All money paid into the limited gaming fund shall be available immediately, without further appropriation, for the purposes of the fund. From the money in the limited gaming fund, the state treasurer is hereby authorized to pay all ongoing expenses of the commission, the department, the division, and any other state agency from whom assistance related to the administration of this article 30 is requested by the commission, director, or executive director, except those expenses related to sports betting, as specified in part 15 of this article 30. The payment shall be made upon proper presentation of a voucher prepared by the commission in accordance with other statutes governing payments of liabilities incurred on behalf of the state. The payment shall not be conditioned on any appropriation by the general assembly. Receipt of the payment shall constitute spending authority by the division of gaming in the department.(II)
Except as specified in part 15 of this article 30:(A)
No claim for the payment of any expense of the commission, department, division, or other state agency shall be made unless it is against the limited gaming fund; and(B)
No other money of the state shall be used or obligated to pay the expenses of the division or commission.(III)
The division shall be operated so that it shall be self-sustaining.(c)
The state treasurer shall invest the money in the limited gaming fund so long as said money is readily available to pay the expenses of the division. Investments shall be those otherwise permitted by state law, and interest or any other return on the investments shall be paid into the limited gaming fund.(d)
Pursuant to section 9 (5)(b)(II) of article XVIII of the state constitution, except for amounts required to be transferred to the extended limited gaming fund pursuant to section 44-30-702, and except for an amount equal to all expenses of the administration of this article 30 for the preceding two-month period, at the end of each state fiscal year, the state treasurer shall distribute the balance remaining in the limited gaming fund as follows:(I)
Fifty percent shall be referred to in this section as the “state share” and shall be transferred to the state general fund or any other fund that the general assembly shall provide in subsection (2) of this section;(II)
Twenty-eight percent shall be transferred to the state historical fund created in section 9 (5)(b)(II) of article XVIII of the state constitution and distributed as specified in section 9 (5)(b)(III) of article XVIII of the state constitution and section 44-30-1201;(III)
Twelve percent shall be distributed to the governing bodies of Gilpin county and Teller county in proportion to the gaming revenues generated in each county; and(IV)
The remaining ten percent shall be distributed to the governing bodies of the cities of Central, Black Hawk, and Cripple Creek in proportion to the gaming revenues generated in each respective city.(2)
Intentionally left blank —Ed.(a)
Except as provided in subsection (2)(b) or (2)(c) of this section, at the end of the 2012-13 state fiscal year and at the end of each state fiscal year thereafter, the state treasurer shall transfer the state share as follows:(I)
Fifteen million dollars to the Colorado travel and tourism promotion fund created in section 24-49.7-106;(II)
For the 2014-15 state fiscal year and each state fiscal year thereafter, five million five hundred thousand dollars to the advanced industries acceleration cash fund created in section 24-48.5-117;(III)
Intentionally left blank —Ed.(A)
At the end of the 2021-22 state fiscal year and each state fiscal year thereafter, five million six hundred eighty-nine thousand nine hundred thirty-eight dollars, as annually increased by an amount equal to the percentage increase in the state share as described in subsection (1)(d)(I) of this section from the previous fiscal year to the local government limited gaming impact fund created in section 44-30-1301, plus an amount equal to the projected direct and indirect costs to administer the local government limited gaming impact grant program set forth in section 44-30-1301 (2)(a) for the upcoming fiscal year; except that such transfer shall be made at the beginning of the state fiscal year, and any unspent money from such transfer reverts to the local government limited gaming impact fund.(B)
If the state share does not increase from the previous fiscal year, then the state treasurer shall transfer an amount equal to the previous fiscal year’s transfer.(IV)
Two million one hundred thousand dollars to the innovative higher education research fund created in section 23-19.7-104;(V)
Two million dollars to the creative industries cash fund created in section 24-48.5-301 for purposes of the council on creative industries, including the administration of the council;(V.5)
Intentionally left blank —Ed.(A)
For the state fiscal year 2021-22, three million dollars to the state historical society strategic initiatives fund created in section 24-80-217.(B)
This section is repealed, effective July 1, 2027.(VI)
Five hundred thousand dollars to the Colorado office of film, television, and media operational account cash fund created in section 24-48.5-116, for the operation of the Colorado office of film, television, and media, for the performance-based incentive for film production in Colorado as specified in section 24-48.5-116, and for the Colorado office of film, television, and media loan guarantee program as specified in section 24-48.5-115;(VI.5)
For the 2022-23 state fiscal year and each state fiscal year thereafter, two million five hundred thousand dollars to the responsible gaming grant program cash fund created in section 44-30-1702 (8); and(VII)
Any amount of the state share that exceeds the transfers specified in subsections (2)(a)(I) to (2)(a)(VI.5) of this section shall be transferred to the general fund.(b)
If a transfer specified in subsections (2)(a)(I) to (2)(a)(VI) of this section provides money for a purpose or program that is repealed or otherwise discontinued as of the date of the transfer, then the transfer shall not be made to that particular fund but shall instead be transferred to the state general fund.(c)
Repealed.(3)
Notwithstanding any provision of this section to the contrary, sports betting is not authorized unless the voters at the November 2019 statewide election approve the ballot question submitted pursuant to section 44-30-1514, enacted in 2019 in House Bill 19-1327.
Source:
Section 44-30-701 — Limited gaming fund - created - repeal, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-44.pdf (accessed Oct. 20, 2023).
Up to date