CO HB1116

Requires the state treasurer to transfer $10 million annually from the general fund to the highway users tax fund (HUTF) following any fiscal year in which state sales and use tax net revenue grows by 1.5% or more, beginning in fiscal year 2012-13 and continuing through the year before Senate Bill 09-228 transfers begin.

Makes transfers cumulative and permanent, so each fiscal year with 1.5% or greater revenue growth triggers an additional $10 million annual transfer in perpetuity, not a one-time transfer.

Allocates transferred funds according to an existing formula: 60% to the state highway fund, 22% to counties, and 18% to municipalities.

Reduces the total amount of all future HUTF transfers by 5% if state sales and use tax net revenue declines by 5% or more in any fiscal year.

Takes effect August 7, 2013, unless a referendum petition is filed, in which case it requires voter approval at the November 2014 general election.