HB16-1138 Summary

• Extends the period for required state treasurer transfers from the general fund to the capital construction fund and highway users tax fund (HUTF) by adding one additional fiscal year for each year those transfers are reduced or eliminated due to taxpayer refunds under the TABOR law.

• Ensures a total of 5 fiscal years of full statutory transfers occur regardless of how many years are needed to complete them, compensating for years when refunds exceed 1.5% of total general fund revenues.

• Allows moneys in the state highway fund allocated from statutorily required HUTF transfers to be used for general highway operations, maintenance, construction, reconstruction, repair, improvement, and acquisition of rights-of-way.

• Maintains requirement that at least 10% of such revenues be expended for transit-related capital improvements, reducing the previous allowance of up to 90% for highway purposes.

• Takes effect 90 days after final adjournment of the general assembly (August 10, 2016) unless subject to a referendum petition requiring November 2016 voter approval.