Colorado § 25-11-113 - Forfeitures - deposit - radiation control - decommissioning fund - long-term care fund.

§ 25-11-113. Forfeitures - deposit - radiation control - decommissioning fund - long-term care fund.

(1) The department is hereby authorized to collect funds from forfeited decommissioning warranties and from long-term care warranties.

(2) (a) The decommissioning fund is created in the state treasury. The fund is interest-bearing and invested to return the maximum income feasible as determined by the state treasurer and consistent with otherwise applicable state law. All money collected from decommissioning warranties pursuant to this section shall be transmitted to the state treasurer, who shall credit the same to the decommissioning fund. All money deposited in the fund shall remain in the fund for the purposes set forth in this article 11, and no part of the fund shall be expended or appropriated for any other purpose.

(b) The moneys in the fund shall be continuously appropriated for the purposes set forth in this part 1 and shall not be transferred to or revert to the general fund.

(c) (I) For state fiscal years commencing on or before July 1, 2024, and on or after July 1, 2026, the state treasurer shall credit all interest and income derived from the deposit and investment of money in the decommissioning fund to the decommissioning fund.

(II) Notwithstanding subsections (2)(a) and (2)(b) of this section, for the state fiscal year commencing on July 1, 2025, in accordance with section 24-36-114 (1), the state treasurer shall credit all interest and income derived from the deposit and investment of money in the decommissioning fund to the general fund.

(III) Repealed.

(3) Moneys in the decommissioning fund shall be available for use by the department for the sole purpose of disposing of radioactive materials and completing decontamination and decommissioning of affected buildings, fixtures, equipment, personal property, and lands, and to cover the department's reasonable attorney costs that may be incurred in successfully revoking, foreclosing, or realizing any decommissioning warranty, and reasonable administrative costs, including indirect costs, incurred by the department in conducting disposal, decontamination, and decommissioning.

(4) (a) A fund to be known as the long-term care fund is hereby created and established in the state treasury. Such fund shall be interest-bearing and invested to return the maximum income feasible as determined by the state treasurer and consistent with otherwise applicable state law. All moneys collected from long-term care warranties pursuant to this section shall be transmitted to the state treasurer who shall credit the same to the long-term care fund. All moneys deposited in the fund and all interest earned on moneys in the fund shall remain in the fund for the purposes set forth in this part 1 and no part thereof shall be expended or appropriated for any other purpose.

(b) Moneys in the long-term care fund shall be annually appropriated by the general assembly to the department in an amount sufficient to implement the provisions of this part 1.

(c) Moneys in the long-term care fund shall be available for use by the department for the sole purposes of:

(I) Performing annual site inspections to confirm the integrity of the stabilized waste system, environmental monitoring, and maintenance of the waste disposal site, including fixtures, cover, and equipment;

(II) Covering the department's reasonable attorney costs that may be incurred in successfully collecting or realizing any long-term care warranty, and reasonable administrative costs, including indirect costs, incurred by the department in conducting long-term care of the disposal facility.

Source: L. 97: Entire section added, p. 1638, § 2, effective August 15. L. 99: (2)(a) and (4)(a) amended, p. 625, § 27, effective August 4. L. 2010: (2)(a) amended, (HB 10-1348), ch. 388, p. 1819, § 4, effective June 8. L. 2025: (2)(a) amended and (2)(c) added, (SB 25-317), ch. 385, p. 2159, § 40, effective June 3.

Editor's note: Subsection (2)(c)(III)(B) provided for the repeal of subsection (2)(c)(III), effective July 1, 2026. (See L. 2025, p. 2159.)

Cross references: For the legislative declaration in SB 25-317, see section 1 of chapter 385, Session Laws of Colorado 2025.