HB 20-1401 Summary

• Repeals the prohibition preventing the General Assembly from appropriating marijuana tax cash fund money in the year it is received, allowing appropriations for Department of Revenue implementation costs in the year received.

• Allows the General Assembly to appropriate marijuana tax cash fund money for any fiscal year following receipt for specified purposes, subject to the 93.5% appropriation limit.

• Permits transfers from the marijuana tax cash fund to the General Fund and High-Cost Special Education Trust Fund for fiscal years following the year money was received.

• Requires a one-time transfer of $136,989,750 from the marijuana tax cash fund to the General Fund on October 1, 2020.

• Modifies the appropriation limit calculation to be based on the beginning balance of the fund plus any money credited or transferred to the fund during the fiscal year.