HB 16-1409 Summary

• Transfer $42.8 million from the unclaimed property trust fund on June 30, 2016: $8 million to the general fund and $34.8 million to the adult dental fund.

• Amend Colorado Revised Statutes 38-13-116.5 to classify funds transferred to the general fund and adult dental fund as fiscal year spending under the state constitutional spending limit.

• Direct the state treasurer to deduct $8 million from the unclaimed property trust fund and credit it to the general fund on June 30, 2016.

• Direct the state treasurer to deduct $34.8 million from the unclaimed property trust fund and transfer it to the adult dental fund created in section 25.5-5-207(4), C.R.S., to fund adult dental benefits for fiscal year 2016-17.

• Declare the act necessary for immediate preservation of public peace, health, and safety under the safety clause provision.