Colorado § 43-10-109 - Aviation fund created.

§ 43-10-109. Aviation fund created.

(1) There is hereby created in the state treasury a fund to be known as the aviation fund, which consists of all revenues credited thereto pursuant to section 39-27-112 (2)(b) and all revenues credited thereto in accordance with subsection (2) of this section within the total revenues prescribed by the general assembly pursuant to section 43-1-112.5. All interest derived from the deposit and investment of money in the fund must be credited to the fund. At the end of any fiscal year, all unexpended and unencumbered money in the fund must remain therein and must not be credited or transferred to the general fund or any other fund, except as directed by the general assembly acting by bill and subject to section 18 of article X of the Colorado constitution.

(2) (a) (I) In accordance with section 18 of article X of the Colorado constitution, for the 1991-92 fiscal year, and each fiscal year thereafter, one hundred percent of the sales and use taxes collected during that fiscal year by the state pursuant to sections 39-26-104 and 39-26-202 on aviation fuels used in turbo-propeller or jet engine aircraft shall be credited to the fund.

(II) If a temporary reduction of the state sales and use tax rates pursuant to section 39-26-901 is in effect, the state treasurer shall credit additional sales and use taxes collected on other property and services to the fund so that the fund receives an amount equal to the amount that it would have received if the sales and use tax rates had not been temporarily reduced for that fiscal year.

(b) Such credit shall be made by the state treasurer as soon as possible after the twentieth day of the month following the collection of such sales and use taxes.

(c) It is not the intent of the general assembly that the moneys available for expenditure pursuant to the provisions of this subsection (2) be used to supplant any federal moneys which may be available to airports, governmental entities operating FAA-designated public-use airports, or the division pursuant to federal law.

(3) The money in the fund is hereby continuously appropriated to the division for the purposes authorized by law. In each fiscal year, the transportation commission shall budget and allocate an amount not to exceed five percent of the total amount of revenues credited to the fund pursuant to section 39-27-112 (2)(b) and subsection (2) of this section during the preceding fiscal year to be used to defray any administrative costs incurred by the division and the board in implementing and administering this article 10. The board shall recommend to the commission an amount to be allocated by the commission for administrative costs. The general assembly shall appropriate from the fund an amount to the department of revenue for the reasonable expenses incurred in administering section 39-26-715 (1)(a)(I) and (2)(a) and as provided in section 39-27-112 (2)(b).

(4) Repealed.

Source: L. 91: Entire article added, p. 1050, § 3, effective July 1; entire section amended, p. 2395, § 18, effective July 1. L. 91, 1st Ex. Sess.: Entire section amended, p. 4, § 6, effective July 1. L. 93: (1) and (3) amended, p. 1514, § 17, effective June 6. L. 97: (1) and (3) amended, p. 786, § 6, effective May 8. L. 2000: (3) amended, p. 673, § 3, effective May 22. L. 2003: (3) amended and (4) added, p. 2605, § 1, effective July 1. L. 2004: (3) amended, p. 1047, § 22, effective July 1. L. 2006: (3) amended, p. 541, § 3, effective July 1. L. 2009: (2)(c), (4)(a)(I), and (4)(a)(II) amended, (HB 09-1066), ch. 82, p. 302, § 4, effective August 5. L. 2017: (4) repealed, (SB 17-231), ch. 174, p. 635, § 8, effective August 9. L. 2019: (1) and (3) amended, (HB 19-1209), ch. 91, p. 337, § 3, effective August 2. L. 2024: (2)(a) amended, (SB 24-228), ch. 170, p. 905, § 16, effective May 14. L. 2025: (1) amended, (SB 25-275), ch. 377, p. 2108, § 332, effective August 6.

Editor's note: The amendments to this section made by chapter 1, L. 91, First Extraordinary Session, page 4, section 6, supersede the amendments made by chapter 330, L. 91, page 2395, section 18. Although both acts contained a July 1, 1991, effective date, the Governor did not sign the act enacted at the First Extraordinary Session until July 5. The act contained in chapter 1 from the First Extraordinary Session was subject to an interrogatory submitted to the Supreme Court by the Governor. The court held the act constitutional on its face. (See In re House Bill 91S-1005, 814 P.2d 875 (Colo. 1991).)

Cross references: For the legislative declaration contained in the 2000 act amending subsection (3), see section 1 of chapter 166, Session Laws of Colorado 2000.