CO HB1229

Limits annual state treasurer notification requirements for lease-purchase agreement funding to August 15, 2009 through August 15, 2015, and prohibits the state from entering into any additional lease-purchase agreements funded from the federal mineral lease revenues fund after the effective date.

Consolidates two separate higher education funds by transferring all money from the higher education maintenance and reserve fund to the higher education federal mineral lease revenues fund on the effective date.

Modifies mineral lease revenue distribution beginning January 1, 2016 to transfer all non-bonus moneys from the mineral leasing fund to the federal mineral lease revenues fund only, eliminating separate transfers to a maintenance and reserve fund.

Changes the appropriation mechanism for capital construction projects at state-supported higher education institutions, with funds transferred to the Department of Higher Education for transfer to the state treasurer for project payments beginning July 1, 2016.

Removes the definition of "maintenance and reserve fund" from statutory definitions and repeals the section authorizing that fund's creation and operation.