CO SB121

Limits annual transfers to the state severance tax trust fund to $100 million, adjusted annually for inflation after fiscal year 2011-12, beginning July 1, 2011.

Distributes remaining state severance tax revenues (after the $100 million transfer) as follows: 50% to the state general fund, 25% to a new property tax relief cash fund, and 25% to the perpetual base account of the state severance tax trust fund.

Redirects the 25% distribution to the perpetual base account to the property tax relief cash fund once aggregate transfers to the perpetual base account reach $60 million.

Creates a new Property Tax Relief Cash Fund in the state treasury to receive severance tax allocations, with moneys annually appropriated for property tax relief purposes and remaining balances carried forward without reverting to other funds.