HB22-1341 Summary

• Requires the state treasurer to transfer $100 million from the marijuana tax cash fund to the public school capital construction assistance fund over three fiscal years: $50 million on June 1, 2022; $30 million on June 1, 2023; and $20 million on June 1, 2024.

• Modifies the reserve requirement for the marijuana tax cash fund to maintain a minimum reserve of 15 percent of the total amount appropriated from the fund for each fiscal year, replacing the previous 93.5 percent appropriation limitation.

• Specifies that the most recent revenue estimate available as of the bill introduction date will be used to calculate the reserve requirement, excluding any portion designated for the state emergency reserve.

• Declares the act necessary for the immediate preservation of public peace, health, or safety.