CO HB1070

Extends retail marijuana excise tax dedications to public school capital construction beyond June 30, 2018, requiring annual transfer of the greater of $40 million or 90 percent of collected excise tax revenue to the public school capital construction assistance fund.

Amends Colorado Revised Statutes 22-43.7-104 and 39-28.8-305 to modify the allocation mechanism for marijuana tax revenues previously limited to $40 million annually through June 2018.

Appropriates $34,000,000 to the department of education for fiscal year 2018-19, allocated as $19,000,000 for lease payments and $15,000,000 for cash grants through the public school capital construction assistance board.

Designates 12.5 percent of amounts credited to the assistance fund for the charter school facilities assistance account within the fund.

Declared necessary for immediate preservation of public peace, health, and safety under the bill's safety clause.