HB 22-1339 Summary

• Creates the Colorado DRIVES vehicle services account in the highway users tax fund to consolidate funding for vehicle-related operations and licensing services, replacing the previous licensing services cash fund.

• Merges the licensing services cash fund into the Colorado DRIVES vehicle services account effective July 1, 2022, with all money in the former fund transferred to the new account.

• Requires the state treasurer to credit all interest and income derived from deposits and investments in the Colorado DRIVES vehicle services account back to that account.

• Redirects revenue from multiple licensing, registration, and vehicle-related fees (driver's licenses, commercial licenses, license plates, vehicle titles, and more) to the consolidated Colorado DRIVES account instead of various separate funds.

• Updates references throughout Colorado statutes to redirect fee collections from the licensing services cash fund to the Colorado DRIVES vehicle services account, effective July 1, 2022.