HB 14-1394 Summary

• Excludes disputed payments received by the state in fiscal year 2013-14 and thereafter from the calculation of regular allocations under the tobacco litigation settlement moneys distribution formula.

• Directs that disputed payments received starting in 2013-14 be allocated in the year received up to the amounts necessary to meet requirements of settlement fund programs, in the same percentages and amounts specified for regular settlement distributions.

• Defines "disputed payments" as settlement moneys received from tobacco manufacturers on or after July 1, 2008, related to the maximum potential NPM adjustment allocable share for Colorado, including any earned income or interest.

• Requires the state treasurer to credit disputed payments not allocated under the new provisions to the general fund instead of the tobacco litigation settlement cash fund.

• Declares the act necessary for immediate preservation of public peace, health, and safety.