CO SB109

Establishes the Indirect Costs Excess Recovery Fund in the state treasury with separate accounts for each principal state department except higher education.

Requires the state treasurer to credit excess indirect cost collections (amounts collected beyond actual expenditures each fiscal year) to the appropriate department's account before the close of each fiscal year, along with any interest earned.

Each department account may be appropriated annually to cover indirect costs incurred by agencies within that department that exceed their actual indirect cost collections during the fiscal year.

Requires the state controller to report annually to the Joint Budget Committee by November 1 regarding revenues, expenditures, and balances of each fund account as of June 30 of the prior fiscal year.

Excludes agencies within the Department of Higher Education from participation in the fund.