Colorado § 24-75-227 - Revenue loss restoration cash fund - creation - allowable uses - definitions - repeal.

§ 24-75-227. Revenue loss restoration cash fund - creation - allowable uses - definitions - repeal.

(1) As used in this section, unless the context otherwise requires:

(a) "American Rescue Plan Act of 2021" means the federal "American Rescue Plan Act of 2021", Pub.L. 117-2, as the act may be subsequently amended.

(b) "Department" means a principal department identified in section 24-1-110 and the judicial department. The term also includes the office of the governor, including any offices created therein.

(c) "Fund" means the revenue loss restoration cash fund created in subsection (2) of this section.

(2) (a) The revenue loss restoration cash fund is created in the state treasury. The fund consists of money credited to the fund in accordance with subsection (2)(b) of this section and section 24-75-229 (4)(b) and any other money that the general assembly may appropriate or transfer to the fund. Subject to the limitations set forth in subsection (3) of this section, the general assembly may appropriate money from the fund to a department for the provision of government services, including kindergarten through twelfth grade public education, housing, state employees, asset maintenance, seniors, criminal justice, state parks, agriculture, and transportation infrastructure. The general assembly may transfer money from the fund to another cash fund to be used for the provision of such government services.

(b) (I) Three days after June 24, 2021, the state treasurer shall transfer one billion dollars from the "American Rescue Plan Act of 2021" cash fund created in section 24-75-226 to the fund.

(II) Repealed.

(III) The fund also includes:

(A) Five million five hundred sixty-three thousand nine hundred eighty-eight dollars from the money the state received from the federal coronavirus state fiscal recovery fund under section 9901 of Title IX, subtitle M of the "American Rescue Plan Act of 2021", which the state treasurer shall transfer to the fund;

(B) The amounts transferred to the fund in accordance with section 24-75-228 (3.5)(b) and (3.7); and

(C) The amount transferred to the fund in accordance with section 8-13.3-518 (4)(d)(II).

(3) (a) The total amount that the general assembly appropriates or transfers from the fund shall not exceed:

(I) Three hundred fifty-seven million dollars for the fiscal year 2021-22; and

(II) Three hundred thirty-three million dollars for the fiscal year 2022-23.

(III) (Deleted by amendment, L. 2024.)

(b) (I) If the amount appropriated, expended, or transferred in a fiscal year from the fund is less than the limit specified in subsection (3)(a) of this section, then the general assembly may appropriate or transfer the remainder for any later fiscal year.

(II) The limit specified in this subsection (3) does not apply to any amount appropriated from the fund for the 2022-23 fiscal year for capital construction, capital renewal, or controlled maintenance, as each term is defined in section 24-30-1301.

(c) On and after January 1, 2022, the general assembly may only appropriate money from the fund through the annual general appropriation act or a supplemental appropriation act.

(3.5) Notwithstanding the limitation in subsection (3)(c) of this section, on July 1, 2022, the state treasurer shall transfer twenty-four million one hundred thirty-one thousand three hundred ninety dollars from the fund to the judicial department information technology cash fund created in section 13-32-114.

(3.7) Notwithstanding any provision of this section to the contrary, no later than three days after May 25, 2022, the state treasurer shall transfer six hundred million dollars from the revenue loss restoration cash fund created in subsection (2) of this section to the title XII repayment fund created in section 8-77-103 (3)(a).

(3.8) (a) On June 30, 2025, the state treasurer shall transfer from the fund to the general fund twelve million four hundred sixty-one thousand four hundred ninety-four dollars and ten cents of money that did not originate from the money the state received from the coronavirus state fiscal recovery fund.

(b) On June 30, 2026, the state treasurer shall transfer from the fund to the general fund four million eighty-five thousand two hundred forty-six dollars and forty-nine cents of money that did not originate from the money the state received from the coronavirus state fiscal recovery fund.

(3.9) Pursuant to section 24-75-226.5 (6), on December 31, 2026, the state treasurer shall transfer any unexpended and unencumbered money in the fund that originates from the ARPA refinance state money cash fund to the ARPA refinance state money cash fund.

(4) This section is repealed, effective July 1, 2027.

Source: L. 2021: Entire section added, (SB 21-289), ch. 316, p. 1951, § 1, effective June 24. L. 2022: (2)(a) and (3)(b) amended, (HB 22-1340), ch. 141, p. 934, § 1, effective April 25; (2)(b)(II) repealed, (HB 22-1342), ch. 137, p. 922, § 10, effective April 25; (3.5) added, (HB 22-1335), ch. 131, p. 898, § 3, effective April 25; (3.7) added, (SB 22-234), ch. 224, p. 1623, § 12, effective May 25; (2)(b)(III) added, (HB 22-1411), ch. 271, p. 1955, § 2, effective May 27. L. 2023: (2)(b)(III)(A) and (2)(b)(III)(B) amended and (2)(b)(III)(C) added, (SB 23-234), ch. 104, p. 378, § 2, effective April 24. L. 2024: (2)(a) and (3)(a) amended and (3.9) added, (HB 24-1466), ch. 429, p. 2934, § 8, effective June 5. L. 2025: (3.8) added, (SB 25-312), ch. 301, p. 1535, § 3, effective May 30. L. 2026: (3.8) amended, (HB 26-1407), ch. 256, p. 1421, § 2, effective May 29.

Cross references: For the legislative declaration in HB 22-1335, see section 1 of chapter 131, Session Laws of Colorado 2022. For the legislative declaration in HB 24-1466, see section 1 of chapter 429, Session Laws of Colorado 2024.