HB 24-1425 Summary

• Allows the Joint Budget Committee to block mandatory fund transfers to the Capital Construction Fund if the Attorney General certifies the transfer violates federal or state law, is preempted by constitutional restrictions, or would terminate enterprise status under Colorado's constitution.

• Authorizes three new fund transfers to the Capital Construction Fund on July 1, 2024: $160,844,354 from the general fund, $70,811,334 to the Information Technology Capital Account, and $500,000 from the general fund exempt account.

• Transfers $84,875,462 from the Controlled Maintenance Trust Fund to the Capital Construction Fund on July 1, 2024.

• Transfers $1,000,000 from the Marijuana Tax Cash Fund to the Information Technology Capital Account on July 1, 2024.

• Makes the Joint Budget Committee notification provision and marijuana tax transfer sunset effective July 1, 2025.