CO HB1280

Grants a two-year waiver from the target reserve requirement for the Building Regulation Fund for fiscal years 2012-13 and 2013-14.

Allows all excess uncommitted reserves in the Building Regulation Fund to be used without meeting the standard reserve requirements during the waiver period.

The waiver operates under the authority of subsection (8)(a) of the cash funds reserve limitation statute.

Subsection (11) automatically repeals on July 1, 2014, restoring the standard target reserve requirement after the two-year waiver expires.

Declared to be necessary for the immediate preservation of public peace, health, and safety under the safety clause.