CO HB1372

Increases the annual fee cap for telephone corporations from one-fifth of one percent to one-fifth of one percent of gross intrastate utility operating revenues (no change for telephone corporations)

Increases the annual fee cap for all other public utilities from one-fifth of one percent to one-quarter of one percent of gross intrastate utility operating revenues

Creates two separate utility funds: the Telecommunications Utility Fund for telephone corporation fees and the Public Utilities Commission Fixed Utility Fund for other public utility fees, with 3% of all collected fees going to the general fund

Requires quarterly fee payments to the Department of Revenue by July 15, October 15, January 15, and April 15, with a 10% penalty plus 1% monthly interest for late payments

Appropriates $22,260 to the Department of Revenue for the 2014-15 fiscal year to support information technology division operations for CITA annual maintenance and support