CO SB127

Increases state sales and use tax revenue credited to the Older Coloradans Cash Fund from existing law to 85% of all net revenue collected, effective for fiscal years beginning July 1, 2013 or later.

Directs the State Treasurer to credit the remaining 15% of net revenue, minus $10 million, to the General Fund and $10 million specifically to the Older Coloradans Cash Fund.

Updates the statutory reference for the Older Coloradans Cash Fund to reflect the new revenue allocation structure from section 39-26-123(3).

Decreases the general fund appropriation for senior services by $2,000,000 and appropriates an equivalent $2,000,000 from the Older Coloradans Cash Fund to the Department of Human Services for fiscal year 2013-2014.

Takes effect July 1, 2013, with the General Assembly declaring it necessary for the immediate preservation of the public peace, health, and safety.