HB15-1109 Summary

• Extends the period for automatic transfers from the general fund to the capital construction fund and highway users tax fund by adding one additional fiscal year for each year transfers are reduced or eliminated due to taxpayer bill of rights refunds.

• Requires the state treasurer to make transfers for a total of 5 full fiscal years, regardless of how many calendar years it takes to complete the transfers, ensuring consistent infrastructure funding.

• Modifies Colorado Revised Statutes 24-75-219 to allow transfers to continue beyond fiscal year 2016-17 if reductions occur in earlier years.

• Takes effect August 5, 2015, unless a referendum petition is filed, in which case it requires approval by voters at the November 2016 general election.