Calendar Notification of Your Bill Dossier

Bill HB18-1036 - NOT ON CALENDAR

Bill HB18-1038 - NOT ON CALENDAR

Bill HB18-1054 - NOT ON CALENDAR

Bill HB18-1070 - NOT ON CALENDAR

Bill HB18-1119 - NOT ON CALENDAR

Bill SB18-001 - NOT ON CALENDAR

Bill SB18-005 - NOT ON CALENDAR

Bill SB18-006 - NOT ON CALENDAR

Bill SB18-007 - NOT ON CALENDAR

Bill SB18-009 - NOT ON CALENDAR

Bill SB18-045 - NOT ON CALENDAR

Bill SB18-063 - NOT ON CALENDAR

Bill SB18-193 - NOT ON CALENDAR

Bill SB18-236 - NOT ON CALENDAR


BILL HB18-1036



Short Title: Reduce Business Personal Property Taxes
Sponsors: T. Leonard / T. Neville

There is currently an exemption from property tax for business personal property that would otherwise be listed on a single personal property schedule that is equal to $7,400 for the current property tax year cycle. The bill raises the exemption to $50,000 commencing in tax year 2018, and continues to adjust it for inflation for subsequent property tax cycles, so that businesses with personal property under $50,000, or the inflation adjusted amount, would not have to file the business personal property tax forms nor pay the corresponding tax.

The bill also raises the value of business personal property that qualifies for an exemption for consumable property from $350, which is the value set by the property tax administrator, to $500.


(Note: This summary applies to this bill as introduced.)



Status
Introduced In House - Assigned to State, Veterans, & Military Affairs
House Committee on State, Veterans, & Military Affairs Postpone Indefinitely


BILL HB18-1038


Short Title: Land Surveyors Continuing Education Requirement
Sponsors: D. Valdez / D. Coram | K. Donovan

The bill requires the state board of licensure for architects, professional engineers, and professional land surveyors to adopt rules establishing a continuing education requirement to maintain the competency of professional land surveyors.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
Introduced In House - Assigned to Business Affairs and Labor
House Committee on Business Affairs and Labor Refer Amended to House Committee of the Whole
House Second Reading Passed - No Amendments
House Second Reading Passed with Amendments - Committee
House Third Reading Passed - No Amendments
Introduced In Senate - Assigned to State, Veterans, & Military Affairs
Senate Committee on State, Veterans, & Military Affairs Postpone Indefinitely

Amendment

House Journal, January 19
11 HB18-1038 be amended as follows, and as so amended, be referred to
12 the Committee of the Whole with favorable
13 recommendation:
14
15 Amend printed bill, page 2, strike lines 9 through 11 and substitute "THIS
16 SECTION, THE RULES MUST REQUIRE THE SURVEYOR TO COMPLETE
17 BOARD-APPROVED CONTINUING EDUCATION SUFFICIENT TO MAINTAIN
18 COMPETENCY.".
19
20




BILL HB18-1054


Short Title: Affordable Housing Plastic Shopping Bag Tax
Sponsors: P. Rosenthal / L. Court

Contingent on prior voter approval, if a store that meets certain criteria provides any plastic shopping bags to a customer, then the store is required to collect a tax of 25 cents from the customer. The tax is the same regardless of the number of bags provided as part of a transaction, but does not apply if the customer is enrolled in the federal supplemental nutrition assistance program. The store is required to remit the tax revenue to the department of revenue (department) after keeping 1% of the taxes to cover the store's collection and remittance expenses. The department may require a store to make returns and payments electronically.

To comply with the Taxpayer's Bill of Rights (TABOR), a ballot issue about the plastic shopping bag tax is referred to the voters at the November 2018 election. If the voters reject the tax, then the entire article containing the tax is repealed. If the voters approve the tax, then the tax will be imposed beginning January 1, 2019.

The tax revenue is deposited in the general fund via the old age pension fund. Then, an amount equal to the department's administrative expenses is transferred to the newly created plastic shopping bag tax administration cash fund and the remainder of the tax revenue is deposited in the housing development grant fund. The division of housing in the department of local affairs is required to use the money in the housing development grant fund for the existing purposes of the fund, which is to improve, preserve, or expand the supply of affordable housing in Colorado.


(Note: This summary applies to this bill as introduced.)



Status
Introduced In House - Assigned to Local Government + Finance + Appropriations
House Committee on Local Government Postpone Indefinitely


BILL HB18-1070


Short Title: Additional Public School Capital Construction Funding
Sponsors: D. Young | C. Wist / R. Scott | R. Zenzinger

Currently, the first $40 million of retail marijuana excise tax revenue annually collected is credited to the public school capital construction assistance fund (assistance fund) for purposes of the 'Building Excellent Schools Today Act' (BEST) and the remainder of the revenue is credited to the state public school fund. For state fiscal years commencing on and after July 1, 2018, sections 1 and 4 of the bill increase the amount of retail marijuana excise tax revenue credited to the assistance fund to the greater of 90% of the revenue annually collected or the first $40 million of such revenue. The remainder of the revenue continues to be credited to the state public school fund.

Section 2 increases the maximum total annual amount of lease payments on BEST lease-purchase agreements authorized to be paid with both state money and local matching money to $110 million for the 2018-19 fiscal year and $120 million for the 2019-20 fiscal year and for each fiscal year thereafter. If, for any state fiscal year, the total amount of revenue credited to the assistance fund from all sources during the prior state fiscal year is less than the total amount of all payments due during the state fiscal year on BEST lease-purchase agreements, then section 3 requires the amount of the annual appropriation to fund the state's share of total program funding for all school districts and institute charter schools to be reduced and general fund money made available by the reduction to be transferred to the assistance fund to make up for the shortfall. Section 5 appropriates $34 million from the assistance fund to the department of education for BEST lease-purchase agreement payments.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
Introduced In House - Assigned to Education + Finance + Appropriations
House Committee on Education Refer Unamended to Finance
House Committee on Finance Refer Unamended to Appropriations
House Committee on Appropriations Refer Amended to House Committee of the Whole
House Second Reading Special Order - Passed with Amendments - Committee, Floor
House Third Reading Passed - No Amendments
Introduced In Senate - Assigned to
Introduced In Senate - Assigned to Education
Senate Committee on Education Refer Amended to Appropriations
Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole
Senate Second Reading Laid Over Daily - No Amendments
Senate Second Reading Passed with Amendments - Committee
Senate Third Reading Passed - No Amendments
House Considered Senate Amendments - Result was to Laid Over Daily
House Considered Senate Amendments - Result was to Concur - Repass
Sent to the Governor
Signed by the Speaker of the House
Signed by the President of the Senate
Governor Signed

Amendment

House Journal, April 6
32 HB18-1070 be amended as follows, and as so amended, be referred to
33 the Committee of the Whole with favorable
34 recommendation:
35
36 Amend printed bill, page 4, after line 23 insert:
37
38 "SECTION 4. Appropriation. For the 2018-19 state fiscal year,
39 $34,000,000 is appropriated to the department of education. This
40 appropriation is from the public school capital construction assistance
41 fund created in section 22-43.7-104 (1), C.R.S. To implement this act,
42 the department may use this appropriation for public school capital
43 construction assistance board - lease payments.".
44
45 Renumber succeeding section accordingly.
46
47 Page 1, line 107, strike "FUND AND" and substitute "FUND,".
48
49 Page 1, line 109, strike "ACT." and substitute "ACT, AND MAKING AN
50 APPROPRIATION.".
51
52

House Journal, April 6
7 Amendment No. 1, Appropriations Report, dated April 6, 2018, and
8 placed in member's bill file; Report also printed in House Journal, April
9 6, 2018.
10
11 Amendment No. 2, by Representative(s) Hamner, Rankin and
12 Kraft-Tharp.
13
14 Amend printed bill, page 4, after line 2 insert:
15
16 "SECTION 3. In Colorado Revised Statutes, 22-54-104, add
17 (5)(h) as follows:
18 22-54-104. District total program - definitions. (5) For
19 purposes of the formulas used in this section:
20 (h) NOTWITHSTANDING ANY OTHER PROVISION OF LAW, FOR ANY
21 STATE FISCAL YEAR, IF THE TOTAL AMOUNT OF REVENUE CREDITED,
22 PURSUANT TO SECTION 22-43.7-104 OR ANY OTHER PROVISION OF LAW, TO
23 THE PUBLIC SCHOOL CAPITAL CONSTRUCTION ASSISTANCE FUND CREATED
24 IN SECTION 22-43.7-104 (1) DURING THE PRIOR STATE FISCAL YEAR IS LESS
25 THAN THE TOTAL AMOUNT OF ALL PAYMENTS DUE DURING THE STATE
26 FISCAL YEAR ON LEASE-PURCHASE AGREEMENTS ENTERED INTO AS
27 AUTHORIZED BY SECTION 22-43.7-110, THEN:
28 (I) THE AMOUNT OF THE ANNUAL APPROPRIATION TO FUND THE
29 STATE'S SHARE OF TOTAL PROGRAM FUNDING FOR ALL DISTRICTS AND FOR
30 INSTITUTE CHARTER SCHOOLS IS REDUCED BY AN AMOUNT EQUAL TO THE
31 DIFFERENCE BETWEEN THE TOTAL AMOUNT OF REVENUE CREDITED TO THE
32 PUBLIC SCHOOL CAPITAL CONSTRUCTION ASSISTANCE FUND DURING THE
33 PRIOR FISCAL YEAR AND THE TOTAL AMOUNT OF ALL PAYMENTS DUE
34 DURING THE STATE FISCAL YEAR ON THE LEASE-PURCHASE AGREEMENTS;
35 AND
36 (II) THE STATE TREASURER SHALL TRANSFER FROM THE GENERAL
37 FUND TO THE PUBLIC SCHOOL CAPITAL CONSTRUCTION ASSISTANCE FUND,
38 THE AMOUNT NECESSARY TO ENSURE THAT ALL LEASE-PURCHASE
39 PAYMENTS DUE DURING THE STATE FISCAL YEAR ARE MADE IN FULL.".
40
41 Renumber succeeding sections accordingly.
42
43 As amended, ordered engrossed and placed on the Calendar for Third
44 Reading and Final Passage.
45

Senate Journal, April 19
After consideration on the merits, the Committee recommends that HB18-1070 be
amended as follows, and as so amended, be referred to the Committee on Appropriations
with favorable recommendation.

Amend reengrossed bill, page 3, strike lines 7 through 27.

Strike page 4.

Renumber succeeding sections accordingly.

Page 1, strike lines 107 through 109 and substitute "ASSISTANCE FUND".


Education


Senate Journal, April 24
After consideration on the merits, the Committee recommends that HB18-1070 be
amended as follows, and as so amended, be referred to the Committee of the Whole with
favorable recommendation.

Amend reengrossed bill, page 5, strike lines 22 through 27 and substitute:

"SECTION 5. Appropriation. (1) For the 2018-19 state fiscal
year, $34,000,000 is appropriated to the department of education. This
appropriation is from the public school capital construction assistance
fund created in section 22-43.7-104 (1), C.R.S. To implement this act,
the department may use this appropriation as follows:
(a) $19,000,000 for public school capital construction assistance
board - lease payments; and
(b) $15,000,000 for public school capital construction assistance
board - cash grants.".




BILL HB18-1119


Short Title: Highway Building & Maintenance Funding
Sponsors: T. Leonard / T. Neville

Section 9 of the bill requires the transportation commission (commission) to submit a ballot question to the voters of the state at the November 2018 statewide election which, if approved:

The executive director must issue at least one-third of the TRANs within one year of the date of the official declaration of the vote on the ballot issue by the governor, issue at least two-thirds of the TRANs within 2 years of that date, and issue all of the TRANs within 3 years of that date. The additional TRANs must have a maximum repayment term of 20 years, and the certificate, trust indenture, or other instrument authorizing their issuance must provide that the state may pay them in full before the end of the specified payment term without penalty. TRANs must otherwise generally be issued subject to the same requirements as the TRANs issued in 1999; except that the commission must pledge to annually allocate from legally available money under its control any money needed for payment of TRANs until the TRANs are fully repaid.

Section 10 requires TRANs net proceeds not otherwise pledged for TRANs payments to be credited to the state highway fund and expended by CDOT only for qualified federal aid highway projects as described in section 6. CDOT may expend no more than 10% of the net proceeds for the administration and engineering of the projects being funded with the net proceeds.

On and after July 1, 2018, section 5 requires 7.5% of state sales and use tax net revenue to be credited to the state highway fund and used first to make TRANs payments. Section 6 requires state sales and use tax net revenue credited to the state highway fund that is not expended to make TRANs payments to be expended only for maintenance of qualified federal aid highways and requires TRANs net proceeds credited to the state highway fund to be expended only for qualified federal aid highway projects included in the strategic transportation project investment program of CDOT and designated for tier 1 funding as 10-year development program projects on CDOT's development program project list.

If the voters of the state approve the issuance of TRANs, CDOT is required to ensure that construction of one-third of the projects commences within one year of the date of the official declaration of the vote on the ballot issue by the governor, to ensure that construction of two-thirds of the projects commences within 2 years of that date, and ensure that construction of all of the projects commences within 3 years of that date. Section 7 requires CDOT to include specified information about the state sales and use tax net revenue and TRANs net proceeds in its annual report to the senate transportation committee and the house transportation and energy committee.


(Note: This summary applies to this bill as introduced.)



Status
Introduced In House - Assigned to Transportation & Energy
House Committee on Transportation & Energy Postpone Indefinitely


BILL SB18-001


Short Title: Transportation Infrastructure Funding
Sponsors: R. Baumgardner | J. Cooke / P. Buck | F. Winter

In 1999, the voters of the state authorized the executive director of the department of transportation (executive director) to issue transportation revenue anticipation notes (TRANs) in a maximum principal amount of $1.7 billion and with a maximum repayment cost of $2.3 billion in order to provide financing to accelerate the construction of qualified federal aid transportation projects. The executive director issued the TRANs as authorized, and the TRANs have been fully repaid. In 2017, the general assembly enacted Senate Bill 17-267 (SB 267), which requires the state to enter into a total of $1.88 billion of lease-purchase agreements and to use the proceeds of the lease-purchase agreements to fund transportation projects and specifically requires the state to enter into $380 million of the lease-purchase agreements in the 2018-19 state fiscal year and $500 million of such agreements in each of the 2019-20, 2020-21, and 2021-22 state fiscal years.

Section 3 of the bill requires the state treasurer to transfer $500 million from the general fund to the state highway fund on June 30, 2019, and to transfer $250 million from the general fund to the state highway fund annually on June 30 of state fiscal years 2019-20 though 2038-39. Section 4 repeals the requirement that the state enter into $500 million of lease-purchase agreements in each of the 2019-20, 2020-21, and 2021-22 state fiscal years but takes effect only if, as specified in section 12 , the voters of the state approve a ballot measure that authorizes the state to issue TRANS and that is either initiated and voted on at the 2018 general election or referred to the voters as specified in section 10 at the 2019 statewide election. Section 5 restricts the authority of the department of transportation (CDOT) and any enterprise of CDOT, such as the high-performance transportation enterprise, to construct or designate or enter into a public-private partnership to construct or designate a managed lane, which is defined as a toll lane, high-occupancy tool lane, or high-occupancy vehicle lane on any state highway.

Section 6 requires CDOT to expend the $500 million transferred from the general fund to the state highway fund pursuant to section 3 only for new highway construction projects and further specifies that:

Section 7 expresses the intent of the general assembly that CDOT strongly consider, when choosing between a standard low bid process or a design-build process for the procurement of a project contract, whether the use of the design-build process is likely to reduce competition and increase project costs.

Section 8 requires CDOT to include specified information about the general fund money transferred to the state highway fund pursuant to section 3 and the proceeds of SB 267 lease-purchase agreements in its annual report to the transportation committee of the senate and the transportation and energy committee of the house of representatives. Section 9 is nonsubstantive and changes the previously defined term 'revenue anticipation notes' to 'transportation revenue anticipation notes' to reflect the use of the latter term throughout the bill.

If no citizen-initiated ballot measure that authorizes the state to issue TRANs is approved by the voters of the state at the November 2018 general election, section 10 requires the submission of a ballot measure seeking voter approval for the state to issue TRANs in an amount of $3.5 billion with a maximum repayment cost of $5 billion at the November 2019 statewide election. Any TRANs issued following approval of the ballot measure must have a maximum repayment term of 20 years, the certificate, trust indenture, or other instrument authorizing their issuance must provide that the state may pay the TRANs in full before the end of the specified payment term without penalty, and the transportation commission must pledge to annually allocate from legally available money under its control any money needed for payment of the notes until the notes are fully repaid.

Section 11 requires TRANs proceeds not otherwise pledged for TRANs payments to be credited to the state highway fund and expended by CDOT only for qualified federal aid transportation projects that are included in CDOT's strategic transportation project investment program and designated for tier 1 funding as 10-year development program projects on CDOT's development program project list. At least 25% of the TRANs net proceeds must be used for projects in counties with populations of 50,000 or less and at least 10% of the TRANs net proceeds must be used for transit purposes or transit-related capital improvements.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
Introduced In Senate - Assigned to Transportation
Senate Committee on Transportation Refer Amended to Finance
Senate Committee on Finance Refer Unamended to Appropriations
Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole
Senate Second Reading Laid Over Daily - No Amendments
Senate Second Reading Laid Over to 03/14/2018 - No Amendments
Senate Second Reading Laid Over Daily with Amendments - Committee, Floor
Senate Second Reading Laid Over with Amendments to 03/20/2018 - Floor
Senate Second Reading Passed with Amendments - Committee, Floor
Senate Third Reading Laid Over Daily - No Amendments
Senate Third Reading Laid Over to 03/27/2018 - No Amendments
Senate Third Reading Passed - No Amendments
Senate Third Reading Passed with Amendments - Floor
Introduced In House - Assigned to Transportation & Energy + Finance + Appropriations
House Committee on Transportation & Energy Refer Amended to Finance
House Committee on Appropriations Refer Unamended to House Committee of the Whole
House Committee on Finance Refer Unamended to Appropriations
House Second Reading Special Order - Passed with Amendments - Floor
House Third Reading Passed with Amendments - Floor
Senate Considered House Amendments - Result was to Concur - Repass
Signed by the President of the Senate
Sent to the Governor
Signed by the Speaker of the House
Governor Signed

Amendment

Senate Journal, January 24
After consideration on the merits, the Committee recommends that SB18-001 be amended
as follows, and as so amended, be referred to the Committee on Finance with favorable
recommendation.

Amend printed bill, page 11, line 22, after "LEAST" insert "ONE PROJECT
BEING LOCATED IN EACH OF THE FIVE TRANSPORTATION REGIONS OF THE
STATE DESIGNATED BY THE DEPARTMENT AND AT LEAST".

Page 11, line 27, strike "AFFAIRS." and substitute "AFFAIRS; EXCEPT THAT
SUCH SALES AND USE TAX NET REVENUE MAY ALSO BE EXPENDED FOR
MAINTENANCE OF THE STATE HIGHWAY SYSTEM.".

Page 12, after line 5 insert:

"SECTION 7. In Colorado Revised Statutes, 43-1-1401, amend
(2) as follows:
43-1-1401. Legislative declaration. (2) The general assembly
intends that this part 14 authorize the department of transportation to
enter INTO design-build contracts and to use an adjusted score
design-build selection and procurement process for particular
transportation projects regardless of the minimum or maximum cost of
such projects, based on the individual needs and merits of such projects,
and subject to approval by the transportation commission. The general
assembly also intends that the department's use of an adjusted score
design-build contract process shall DOES not prohibit use of the low bid
process currently used by the department pursuant to part 1 of article 92
of title 24 and part 14 of article 30 of title 24. C.R.S. THE GENERAL
ASSEMBLY FURTHER INTENDS THAT WHEN DETERMINING WHETHER TO USE
THE LOW BID PROCESS OR THE DESIGN-BUILD PROCESS TO CONTRACT FOR
A PROJECT THE DEPARTMENT STRONGLY CONSIDER THE EXTENT TO WHICH
USE OF THE DESIGN-BUILD PROCESS IS LIKELY, BY EXCLUDING
CONTRACTORS THAT LACK THE CAPABILITY OR SIZE TO DO BOTH THE
DESIGN AND CONSTRUCTION WORK FOR THE PROJECT, TO REDUCE
COMPETITION IN BIDDING FOR THE CONTRACT, INCREASE THE TOTAL
COSTS TO THE STATE OF DESIGNING AND BUILDING THE PROJECT, OR
BOTH.".

Renumber succeeding sections accordingly.

Page 14, line 22, strike "MAY" and substitute "SHALL".

Page 14, line 25, after "DOLLARS." insert "THE EXECUTIVE DIRECTOR
SHALL ISSUE AT LEAST ONE-THIRD OF THE MAXIMUM AMOUNT OF NOTES
TO BE ISSUED NO LATER THAN JUNE 30, 2019, TWO-THIRDS OF THE
MAXIMUM AMOUNT OF NOTES TO BE ISSUED NO LATER THAN JUNE 30,
2020, AND ALL REMAINING NOTES TO BE ISSUED BY JUNE 30, 2021.".

Page 15, strike lines 11 and 12 and substitute:

"(III) THE SECRETARY OF STATE SHALL SUBMIT TO THE
REGISTERED ELECTORS OF THE".

Page 17, line 18, strike "section 8" and substitute "section 9".

Page 17, line 21, strike "10 and sections 1, 2, 5, 6, 8, and 11" and
substitute "11, and sections 1, 2, 5, 6, 7, 9, and 12".


Senate Journal, March 7
After consideration on the merits, the Committee recommends that SB18-001 be amended
as follows, and as so amended, be referred to the Committee of the Whole with favorable
recommendation.

Amend printed bill, page 17, after line 13 insert:

"SECTION 10. Appropriation. For the 2017-18 state fiscal
year, $13,930 is appropriated to the department of revenue. This
appropriation is from the general fund. To implement this act, the
department may use this appropriation for tax administration IT system
(GenTax) support.".

Renumber succeeding sections accordingly.

Page 2, line 105, strike "PROJECTS." and substitute "PROJECTS; AND
MAKING AN APPROPRIATION.".


Senate Journal, March 14
SB18-001 by Senator(s) Baumgardner and Cooke, Coram, Crowder, Gardner, Grantham, Hill,
Holbert, Lambert, Lundberg, Marble, Neville T., Scott, Sonnenberg, Tate; also
Representative(s) Buck, Leonard--Concerning transportation infrastructure funding, and, in
connection therewith, requiring the transportation commission to submit a ballot question
to the voters of the state at the November 2018 general election, which, if approved, would
authorize the state, with no increase in any taxes, to issue additional transportation revenue
anticipation notes for the purpose of addressing critical priority transportation needs in the
state by funding transportation projects; would exclude note proceeds and investment
earnings on note proceeds from state fiscal year spending limits; would repeal an existing
requirement that the state treasurer execute lease-purchase agreements for the purpose of
funding transportation projects; and would require ten percent of state sales and use tax net
revenue to be credited to the state highway fund for the purpose of repaying any notes
issued and funding transportation projects.

Amendment No. 1, Transportation Committee Amendment.
(Printed in Senate Journal, January 24, pages 75-76 and placed in members' bill files.)

Amendment No. 2, Appropriations Committee Amendment.
(Printed in Senate Journal, March 7, page 383 and placed in members' bill files.)

Amendment No. 3(L.008), by Senators Baumgardner and Cooke.

Amend the Transportation Committee Report, dated January 23, 2018,
page 1, before line 1 insert:

"Amend printed bill, page 5, line 17, after "to" insert "reduce the use of
lease-purchase agreements to finance federal aid transportation projects
and".

Page 5 of the bill, line 18, strike "instead of lease-purchase agreements".

Page 5 of the bill, line 19, strike "federal aid transportation" and
substitute "such".

Page 6 of the bill, line 1, strike "in lieu of the execution" and substitute
"reduced use".

Page 6 of the bill, strike lines 7 through 20.

Renumber succeeding sections accordingly.

Page 6 of the bill, line 22, strike "(2)(d), (3)(a), and (4);" and substitute
"and (2)(d)(II);".

Page 7 of the bill, strike lines 5 through 12 and substitute:

"(2) (a) Notwithstanding the provisions of sections 24-82-102
(1)(b) and 24-82-801, and pursuant to section 24-36-121, no sooner than
July 1, 2018, the state, acting by and through the state treasurer, shall
execute lease-purchase agreements, each for no more than twenty years
of annual payments, for the projects described in subsection (4) of this
section. The state shall execute the lease-purchase agreements only in
accordance with the following schedule: DURING THE 2018-19 STATE
FISCAL YEAR IN AN AMOUNT UP TO FIVE HUNDRED MILLION DOLLARS.".

Page 8 of the bill, line 1, strike "NINE million" and substitute "million
THIRTY-SEVEN MILLION FIVE HUNDRED THOUSAND".

Page 8 of the bill, strike lines 2 through 27.

Strike page 9 of the bill.

Page 10 of the bill, strike lines 1 through 6 and substitute:

"(d) Any lease-purchase agreement executed as required by
subsection (2)(a) of this section shall provide that all of the obligations
of the state under the agreement are subject to the action of the general
assembly in annually making money available for all payments
thereunder. Payments under any lease-purchase agreement must be made,
subject to annual allocation pursuant to section 43-1-113 by the
transportation commission created in section 43-1-106 (1) or subject to
annual appropriation by the general assembly, as applicable, from the
following sources of money:
(II) Next, fifty TEN million ONE HUNDRED THOUSAND dollars
annually, or any lesser amount that is sufficient to make each full
payment due, shall be paid from any legally available money under the
control of the transportation commission solely for the purpose of
allowing the construction, supervision, and maintenance of state
highways to be funded with the proceeds of lease-purchase agreements
as specified in subsection (4)(b) of this section and section 43-4-206
(1)(b)(V); and".".

Page 1 of the report, line 1, strike "Amend printed bill, page" and
substitute "Page".

Page 1 of the report, line 8, strike "7." and substitute "6.".

Page 2 of the report, after line 7 insert:

"Page 12 of the bill, line 7, strike "(1)(b)(V),".

Page 12 of the bill, strike lines 16 through 27.

Page 13 of the bill, strike lines 1 through 11.

Page 13 of the bill, lines 20 and 21, strike "lease-purchase agreements
executed as required by section 24-82-1303 (2)(a)" and substitute
"lease-purchase agreements executed as required by section 24-82-1303
(2)(a) AND".

Page 13 of the bill, lines 22 and 23, strike "section 24-82-1303 (4)(b)"
and substitute "section 24-82-1303 (4)(b) OR".

Page 14 of the bill, line 3, after "section" insert "SECTION 24-82-1303
(4)(b),".

Page 14 of the bill, line 7, after "section" insert "SECTION 24-82-1303
(4)(b),".".

Page 2 of the report, after line 16 insert:

"Page 15 of the bill, line 21, strike "AN EXISTING".

Page 15 of the bill, strike lines 22 through 24 and substitute "THE
AMOUNT OF LEASE-PURCHASE AGREEMENTS REQUIRED BY CURRENT LAW
TO BE ISSUED FOR THE PURPOSE OF FINANCING TRANSPORTATION
PROJECTS BE REDUCED?"".".

Page 2 of the report, strike lines 17 through 19 and substitute:

"Page 17 of the bill, strike line 21 and substitute "This section 11 and
sections 1, 2, 4, 5, 6, 8, and 12 of this act".

Page 1 of the bill, line 102, after "THEREWITH," insert "REQUIRING TEN
PERCENT OF STATE SALES AND USE TAX REVENUE TO BE CREDITED TO
THE STATE HIGHWAY FUND;".

Page 1 of the bill, strike lines 112 and 113 and substitute "LIMITS; AND
WOULD REDUCE THE AMOUNT OF LEASE-PURCHASE AGREEMENTS
REQUIRED BY CURRENT LAW TO BE ISSUED".

Page 2 of the bill, line 101, strike "FUNDING" and substitute
"FINANCING".

Page 2 of the bill, strike lines 102 through 105 and substitute "AND
MAKING AN APPROPRIATION.".".


Amendment No. 4(L.023), by Senator Baumgardner.

Amend printed bill, page 15, line 16, after "$5,000,000,000," insert
"WITH NO INCREASE IN ANY TAXES OR FEES,".

Page 1, line 106, strike "TAXES," and substitute "TAXES OR FEES,".


Amendment No. 5(L.027), by Senator Jahn.

Amend the Transportation Committee Report, dated January 23, 2018,
page 1, strike lines 1 through 3.


As amended, laid over until Thursday, March 15, retaining its place on the calendar.

Senate Journal, March 15
SB18-001 by Senator(s) Baumgardner and Cooke, Coram, Crowder, Gardner, Grantham, Hill,
Holbert, Lambert, Lundberg, Marble, Neville T., Scott, Sonnenberg, Tate; also
Representative(s) Buck, Leonard--Concerning transportation infrastructure funding, and, in
connection therewith, requiring the transportation commission to submit a ballot question
to the voters of the state at the November 2018 general election, which, if approved, would
authorize the state, with no increase in any taxes, to issue additional transportation revenue
anticipation notes for the purpose of addressing critical priority transportation needs in the
state by funding transportation projects; would exclude note proceeds and investment
earnings on note proceeds from state fiscal year spending limits; would repeal an existing
requirement that the state treasurer execute lease-purchase agreements for the purpose of
funding transportation projects; and would require ten percent of state sales and use tax net
revenue to be credited to the state highway fund for the purpose of repaying any notes
issued and funding transportation projects.

(Amended in general orders as printed in Senate journal, March 14, pages 439-441.)

Amendment No. 6(L.028), by Senator Jahn.

Amend printed bill, page 12, line 5, strike "IMPROVEMENTS." and
substitute "IMPROVEMENTS, INCLUDING SOUND WALLS ALONG
INTERSTATE HIGHWAYS.".


As amended, laid over until Tuesday, March 20, retaining its place on the calendar.

Senate Journal, March 21
SB18-001 by Senator(s) Baumgardner and Cooke, Coram, Crowder, Gardner, Grantham, Hill,
Holbert, Lambert, Lundberg, Marble, Neville T., Scott, Sonnenberg, Tate; also
Representative(s) Buck, Leonard--Concerning transportation infrastructure funding, and, in
connection therewith, requiring the transportation commission to submit a ballot question
to the voters of the state at the November 2018 general election, which, if approved, would
authorize the state, with no increase in any taxes, to issue additional transportation revenue
anticipation notes for the purpose of addressing critical priority transportation needs in the
state by funding transportation projects; would exclude note proceeds and investment
earnings on note proceeds from state fiscal year spending limits; would repeal an existing
requirement that the state treasurer execute lease-purchase agreements for the purpose of
funding transportation projects; and would require ten percent of state sales and use tax net
revenue to be credited to the state highway fund for the purpose of repaying any notes
issued and funding transportation projects.

(Amended in general orders as printed in Senate journal, March 14, pages 439-441, and
March 15, page 450.)

Amendment No. 7(L.041), by Senator Zenzinger.

Amend printed bill, strike everything below the enacting clause and
substitute:
"SECTION 1. Short title. The short title of this act is the "Fix
Colorado Roads Act".
SECTION 2. Legislative declaration. (1) The general assembly
hereby finds and declares that:
(a) Colorado's population is expected to increase to over six
million nine hundred thousand by 2030;
(b) Population growth has significantly increased traffic and
congestion and will continue to do so in the future, causing longer travel
times, increasing air pollution, decreasing Coloradans' access to
recreational opportunities, and accelerating the deterioration of
Colorado's transportation infrastructure;
(c) The growth of the economy of the state has prompted new and
ever-increasing uses of public highways, roads, and other transportation
infrastructure, and the existing transportation infrastructure of the state
cannot accommodate such greatly increased uses;
(d) In order to preserve and improve Colorado's economic
prosperity and quality of life, it is necessary to develop and maintain a
modern, efficient, and cost-effective multimodal transportation system
that can move people, goods, and information without undue delays or
environmental consequences;
(e) One of the major concerns of the citizens of the state is the
ability of the state and local governments to address the long-term
transportation infrastructure needs of the state that are critical to the
continued growth of the state's economy and the maintenance of citizens'
quality of life;
(f) The state has significantly decreased its contribution of general
state revenues available in recent years to fund critical priority
transportation infrastructure needs, and current transportation funding
mechanisms do not provide adequate revenue to keep pace with the
increasing demands on transportation infrastructure statewide;
(g) State and regional economically significant transportation
corridors, and their related congestion relief projects, remain unfunded
or underfunded while construction costs escalate and congestion
worsens;
(h) In 1999, the general assembly and the voters of the state
approved Referendum A, which authorized the state to issue
transportation revenue anticipation notes to accelerate the funding and
completion of twenty-eight strategic transportation projects in significant
corridors, including the T-REX project, the highly successful expansion
and congestion mitigation project for the Interstate 25 corridor in the
Denver metropolitan area;
(i) The success of the 1999 transportation revenue anticipation
notes program shows that leveraging existing revenue is a prudent and
cost-effective means to accelerate and deliver large-scale and
economically significant transportation projects throughout the state;
(j) In 2017, the general assembly enacted Senate Bill 17-267,
which:
(I) Requires the state to enter into lease-purchase agreements for
state facilities in the amount of three hundred eighty million dollars
during the 2018-19 fiscal year and five hundred million dollars during
each of the 2019-20, 2020-21, and 2021-22 state fiscal years in order to
accelerate the funding of high-priority transportation projects throughout
the state; and
(II) Significantly increases the amount of money that the state
may retain and spend under its fiscal year spending limit;
(k) While the lease-purchase agreements required by Senate Bill
17-267 will provide some increased funding for transportation, such
agreements leverage state capital assets, rather than state revenue, and,
to the extent currently authorized, provide less total funding than
transportation revenue anticipation notes can;
(l) If the state enters into all of the lease-purchase agreements
required by Senate Bill 17-267, the state will be required to spend
approximately one hundred fifty million dollars per year, including one
hundred million dollars per year from the state general fund and fifty
million dollars per year from money under the control of the
transportation commission, to repay the lease-purchase agreements;
(m) It is necessary, in order to avoid delaying critical
transportation projects that are expected to be funded in part with
proceeds of lease-purchase agreements to be issued during the 2018-19
state fiscal year, for the state to enter into lease-purchase agreements as
required by Senate Bill 17-267 during the 2018-19 state fiscal year;
(n) It is also necessary, appropriate, and in the best interest of the
state to:
(I) Repeal the requirement that the state enter into additional
lease-purchase agreements during the 2019-20, 2020-21, and 2021-22
state fiscal years;
(II) If required statewide voter approval can be obtained either at
the November 2018 general election for a citizen-initiated ballot measure
that authorizes the state to issue transportation revenue notes or at the
November 2019 statewide election for a ballot issue submitted by the
state that authorizes the state to issue transportation revenue anticipation
notes as specified in this act, use transportation revenue anticipation
notes instead of lease-purchase agreements to finance federal aid
transportation projects because doing so will generate a larger amount of
up-front revenue for the projects and will enable the state to design and
construct the projects more efficiently; and
(III) Use the money that will no longer be needed to repay
lease-purchase agreements, as well as a portion of the additional general
fund money that the state may retain and spend under its fiscal year
spending limit due to the enactment of Senate Bill 17-267, to repay the
transportation revenue anticipation notes and provide additional funding
for transportation infrastructure projects and maintenance; and
(o) The issuance of new transportation revenue anticipation notes
in lieu of the execution of lease-purchase agreements will accelerate the
funding and efficient completion of a greater number of specific and
designated projects throughout the state that the Colorado department of
transportation and the transportation planning regions of the state have
determined to be of highest priority and economically significant to the
state and the regions in which they will be built.
(2) The general assembly further finds and declares that:
(a) This act does not increase taxes or fees or refer a ballot issue
to the voters of the state seeking their approval to raise taxes or fees;
(b) Private citizens have proposed ballot measures by initiative,
one or more of which may be placed on the ballot for the November 2018
general election, which, if approved by the voters of the state, will
authorize the state to issue transportation revenue anticipation notes to
provide additional funding for transportation infrastructure projects; and
(c) If such a citizen-initiated ballot measure is not placed on the
ballot for the November 2018 general election or if the voters reject
every such ballot measure that is placed on that ballot, it is necessary and
appropriate for the state to refer a ballot issue that authorizes the state to
issue transportation revenue anticipation notes to the voters of the state
at the November 2019 statewide election as specified in this act.
SECTION 3. In Colorado Revised Statutes, 24-75-219, add
(1)(g) and (5) as follows:
24-75-219. Transfers - transportation - capital construction
- definitions - repeal. (1) As used in this section, unless the context
otherwise requires:
(g) "STATE HIGHWAY FUND" MEANS THE STATE HIGHWAY FUND
CREATED IN SECTION 43-1-219.
(5) (a) ON JUNE 30, 2019, THE STATE TREASURER SHALL
TRANSFER FIVE HUNDRED MILLION DOLLARS FROM THE GENERAL FUND TO
THE STATE HIGHWAY FUND FOR EXPENDITURE IN ACCORDANCE WITH
SECTION 43-1-220.5.
(b) (I) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (5)(b)(II)
OF THIS SECTION, ON JUNE 30, 2020, AND ON EACH SUCCEEDING JUNE 30
THROUGH JUNE 30, 2039, THE STATE TREASURER SHALL TRANSFER TWO
HUNDRED FIFTY MILLION DOLLARS FROM THE GENERAL FUND TO THE
STATE HIGHWAY FUND FOR EXPENDITURE IN ACCORDANCE WITH SECTION
43-1-220.5.
(II) (A) THIS SUBSECTION (5)(b) IS REPEALED, EFFECTIVE
JANUARY 1, 2020, IF EITHER A BALLOT ISSUE THAT AUTHORIZES THE
STATE TO ISSUE TRANSPORTATION REVENUE ANTICIPATION NOTES IS NOT
SUBMITTED TO THE REGISTERED ELECTORS OF THE STATE FOR THEIR
APPROVAL OR REJECTION AT THE NOVEMBER 2019 STATEWIDE ELECTION
PURSUANT TO SECTION 43-4-705 (13)(b) OR SUCH A BALLOT ISSUE IS
SUBMITTED AND A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT
ISSUE VOTE "NO/AGAINST".
(B) THIS SUBSECTION (5)(b)(II) IS REPEALED, EFFECTIVE JANUARY
1, 2020, IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR".
SECTION 4. In Colorado Revised Statutes, 24-82-1303, amend
(2)(a), (2)(b), and (2)(d)(II); and repeal (1) as follows:
24-82-1303. Lease-purchase agreements for capital
construction and transportation projects. (1) On or before December
31, 2017, the state architect, the director of the office of state planning
and budgeting or his or her designee, and the state institutions of higher
education shall identify and prepare a collaborative list of eligible state
facilities that can be collateralized as part of the lease-purchase
agreements for capital construction and transportation projects authorized
in this part 13. The total current replacement value of the identified
buildings must equal at least two billion dollars.
(2) (a) Notwithstanding the provisions of sections 24-82-102
(1)(b) and 24-82-801, and pursuant to section 24-36-121, no sooner than
July 1, 2018, the state, acting by and through the state treasurer, shall
execute lease-purchase agreements, each for no more than twenty years
of annual payments, for the projects described in subsection (4) of this
section. The state shall execute the lease-purchase agreements only in
accordance with the following schedule: DURING THE 2018-19 STATE
FISCAL YEAR IN AN AMOUNT UP TO FIVE HUNDRED MILLION DOLLARS.
(I) During the 2018-19 state fiscal year, the state shall execute
lease-purchase agreements in an amount up to five hundred million
dollars;
(II) During the 2019-20 state fiscal year, the state shall execute
lease-purchase agreements in an amount up to five hundred million
dollars;
(III) During the 2020-21 state fiscal year, the state shall execute
lease-purchase agreements in an amount up to five hundred million
dollars; and
(IV) During the 2021-22 fiscal year, the state shall execute
lease-purchase agreements in an amount up to five hundred million
dollars.
(b) The anticipated annual state-funded payments for the principal
and interest components of the amount payable under all lease-purchase
agreements entered into pursuant to subsection (2)(a) of this section shall
not exceed one hundred fifty THIRTY-SEVEN million FIVE HUNDRED
THOUSAND dollars.
(d) Any lease-purchase agreement executed as required by
subsection (2)(a) of this section shall provide that all of the obligations
of the state under the agreement are subject to the action of the general
assembly in annually making money available for all payments
thereunder. Payments under any lease-purchase agreement must be made,
subject to annual allocation pursuant to section 43-1-113 by the
transportation commission created in section 43-1-106 (1) or subject to
annual appropriation by the general assembly, as applicable, from the
following sources of money:
(II) Next, fifty TEN million ONE HUNDRED THOUSAND dollars
annually, or any lesser amount that is sufficient to make each full
payment due, shall be paid from any legally available money under the
control of the transportation commission solely for the purpose of
allowing the construction, supervision, and maintenance of state
highways to be funded with the proceeds of lease-purchase agreements
as specified in subsection (4)(b) of this section and section 43-4-206
(1)(b)(V); and
SECTION 5. In Colorado Revised Statutes, add 43-1-220.5 as
follows:
43-1-220.5. State highway fund - use of money transferred
from general fund - repayment of transportation revenue
anticipation notes - repeal. (1) EXCEPT AS OTHERWISE PROVIDED IN
SUBSECTIONS (2) AND (3) OF THIS SECTION, THE DEPARTMENT OF
TRANSPORTATION SHALL EXPEND MONEY TRANSFERRED FROM THE
GENERAL FUND TO THE STATE HIGHWAY FUND PURSUANT TO SECTION
24-75-219 (5) ONLY FOR QUALIFIED FEDERAL AID TRANSPORTATION
PROJECTS THAT ARE INCLUDED IN THE STRATEGIC TRANSPORTATION
PROJECT INVESTMENT PROGRAM OF THE DEPARTMENT OF
TRANSPORTATION AND THAT ARE DESIGNATED FOR TIER 1 FUNDING AS
TEN-YEAR DEVELOPMENT PROGRAM PROJECTS ON THE DEPARTMENT'S
DEVELOPMENT PROGRAM PROJECT LIST, WITH AT LEAST TWENTY-FIVE
PERCENT OF THE GENERAL FUND MONEY BEING USED FOR PROJECTS THAT
ARE LOCATED IN COUNTIES WITH POPULATIONS OF FIFTY THOUSAND OR
LESS AS OF JULY 2015 AS REPORTED BY THE STATE DEMOGRAPHY OFFICE
OF THE DEPARTMENT OF LOCAL AFFAIRS; EXCEPT THAT SUCH GENERAL
FUND MONEY MAY ALSO BE EXPENDED FOR MAINTENANCE OF THE STATE
HIGHWAY SYSTEM. NO MORE THAN NINETY PERCENT OF THE GENERAL
FUND MONEY SHALL BE EXPENDED FOR HIGHWAY PURPOSES OR
HIGHWAY-RELATED CAPITAL IMPROVEMENTS, AND AT LEAST TEN
PERCENT OF THE GENERAL FUND MONEY SHALL BE EXPENDED FOR
TRANSIT PURPOSES OR FOR TRANSIT-RELATED CAPITAL IMPROVEMENTS
(2) (a) IF A BALLOT ISSUE INITIATED BY PRIVATE CITIZENS THAT
AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2018
GENERAL ELECTION AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR", THE DEPARTMENT SHALL EXPEND MONEY
TRANSFERRED FROM THE GENERAL FUND TO THE STATE HIGHWAY FUND
PURSUANT TO SECTION 24-75-219 (5) FIRST, TO THE EXTENT NEEDED, FOR
MAINTENANCE OF THE TRANSPORTATION INFRASTRUCTURE PROJECTS
FINANCED BY THE NOTES AND THEREAFTER EXCLUSIVELY FOR
MAINTENANCE OF THE STATE HIGHWAY SYSTEM.
(b) (I) THIS SUBSECTION (2) IS REPEALED, EFFECTIVE JANUARY 1,
2019, IF EITHER:
(A) A BALLOT ISSUE INITIATED BY PRIVATE CITIZENS THAT
AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
ANTICIPATION NOTES TO FINANCE THE CONSTRUCTION OF
TRANSPORTATION INFRASTRUCTURE PROJECTS IS NOT SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2018 GENERAL ELECTION; OR
(B) SUCH A BALLOT ISSUE IS SUBMITTED AND A MAJORITY OF THE
ELECTORS VOTING ON THE BALLOT ISSUE VOTE "NO/AGAINST".
(II) THIS SUBSECTION (2)(b) IS REPEALED, EFFECTIVE JANUARY 1,
2019, IF A BALLOT ISSUE INITIATED BY PRIVATE CITIZENS THAT
AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2018
GENERAL ELECTION AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR".
(3) (a) IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR", THE DEPARTMENT SHALL EXPEND MONEY
TRANSFERRED FROM THE GENERAL FUND TO THE STATE HIGHWAY FUND
PURSUANT TO SECTION 24-75-219 (5) FIRST, TO THE EXTENT NEEDED, TO
MAKE THE FULL AMOUNT OF PAYMENTS DUE ON THE NOTES AND
THEREAFTER EXCLUSIVELY FOR MAINTENANCE OF THE STATE HIGHWAY
SYSTEM.
(b) (I) THIS SUBSECTION (3) IS REPEALED:
(A) EFFECTIVE JANUARY 1, 2019, IF A BALLOT ISSUE INITIATED BY
PRIVATE CITIZENS THAT AUTHORIZES THE STATE TO ISSUE
TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2018 GENERAL ELECTION AND A MAJORITY OF THE
ELECTORS VOTING ON THE BALLOT ISSUE VOTE "YES/FOR";
(B) EFFECTIVE JANUARY 1, 2020, IF A BALLOT ISSUE THAT
AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2019
STATEWIDE ELECTION PURSUANT TO SECTION 43-4-705 (13)(b) AND A
MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
"NO/AGAINST".
(II) THIS SUBSECTION (3)(b) IS REPEALED, EFFECTIVE JANUARY 1,
2020, IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR".
SECTION 6. In Colorado Revised Statutes, 43-1-1401, amend
(2) as follows:
43-1-1401. Legislative declaration. (2) The general assembly
intends that this part 14 authorize AUTHORIZES the department of
transportation to enter INTO design-build contracts and to use an adjusted
score design-build selection and procurement process for particular
transportation projects regardless of the minimum or maximum cost of
such projects, based on the individual needs and merits of such projects,
and subject to approval by the transportation commission. The general
assembly also intends that the department's use of an adjusted score
design-build contract process shall DOES not prohibit use of the low bid
process currently used by the department pursuant to part 1 of article 92
of title 24 and part 14 of article 30 of title 24. C.R.S. THE GENERAL
ASSEMBLY FURTHER INTENDS THAT WHEN DETERMINING WHETHER TO USE
THE LOW BID PROCESS OR THE DESIGN-BUILD PROCESS TO CONTRACT FOR
A PROJECT, THE DEPARTMENT STRONGLY CONSIDER THE EXTENT TO
WHICH USE OF THE DESIGN-BUILD PROCESS IS LIKELY, BY EXCLUDING
CONTRACTORS THAT LACK THE CAPABILITY OR SIZE TO DO BOTH THE
DESIGN AND CONSTRUCTION WORK FOR THE PROJECT, TO REDUCE
COMPETITION IN BIDDING FOR THE CONTRACT, INCREASE THE TOTAL
COSTS TO THE STATE OF DESIGNING AND BUILDING THE PROJECT, OR BOTH.
SECTION 7. In Colorado Revised Statutes, 43-4-206, amend (1)
introductory portion, (2)(b) introductory portion, (2)(b)(III), and
(2)(b)(IV) as follows:
43-4-206. State allocation. (1) Except as otherwise provided in
subsections (1)(a)(V), SUBSECTIONS (1)(b)(V), (2), and (3) of this section,
after paying the costs of the Colorado state patrol and any other costs of
the department, exclusive of highway construction, highway
improvements, or highway maintenance, that are appropriated by the
general assembly, money in the highway users tax fund shall be paid to
the state highway fund and expended for the following purposes:
(2) (b) Beginning in 1998, the department of transportation shall
report annually to the transportation committee of the senate and the
transportation and energy committee of the house of representatives
concerning the revenue expended by the department pursuant to
subsection (2)(a) of this section and, beginning in 2018 2019, any STATE
GENERAL FUND MONEY THAT IS CREDITED TO THE STATE HIGHWAY FUND
PURSUANT TO SECTION 24-75-219 (5) AND EXPENDED BY THE
DEPARTMENT PURSUANT TO SECTION 43-1-220.5, AND ANY NET proceeds
of lease-purchase agreements executed as required by section 24-82-1303
(2)(a) that are credited to the state highway fund pursuant to section
24-82-1303 (4)(b) and expended by the department pursuant to
subsection (1)(b)(V) of this section. The department shall present the
report at the joint meeting required under section 43-1-113 (9)(a), and the
report shall describe for each fiscal year, if applicable:
(III) The projected amounts of revenue and net proceeds that the
department expects to receive under this subsection (2), and subsection
(1)(b)(V) of this section SECTION 24-75-219 (5), AND SECTION
24-82-1303 (4)(b) during the fiscal year;
(IV) The amount of revenue and net proceeds that the department
has already received under this subsection (2), and subsection (1)(b)(V)
of this section SECTION 24-75-219 (5), AND SECTION 24-82-1303 (4)(b)
during the fiscal year; and
SECTION 8. In Colorado Revised Statutes, 43-4-702, repeal
(7); and add (9) as follows:
43-4-702. Definitions. As used in this part 7, unless the context
otherwise requires:
(7) "Revenue anticipation notes" or "notes" means revenue
anticipation notes authorized by and issued in accordance with this part
7.
(9) "TRANSPORTATION REVENUE ANTICIPATION NOTES",
"REVENUE ANTICIPATION NOTES", OR "NOTES" MEANS REVENUE
ANTICIPATION NOTES AUTHORIZED BY AND ISSUED IN ACCORDANCE WITH
THIS PART 7.
SECTION 9. In Colorado Revised Statutes, 43-4-705, amend
(13) as follows:
43-4-705. Revenue anticipation notes - repeal.
(13) (a) Notwithstanding any other provision of this part 7 to the
contrary, the executive director shall have the authority to issue revenue
anticipation notes pursuant to this part 7 only if voters statewide approve
the ballot question submitted at the November 1999 statewide election
pursuant to section 43-4-703 (1) and only then to the extent allowed
under the maximum amounts of debt and repayment cost so approved.
(b) (I) SUBJECT TO VOTER APPROVAL OF THE BALLOT ISSUE
SUBMITTED AT THE NOVEMBER 2019 GENERAL ELECTION PURSUANT TO
SUBSECTION (13)(b)(III) OF THIS SECTION AND THE REPAYMENT FUNDING
COMMITMENT REQUIREMENT SPECIFIED IN SUBSECTION (13)(b)(II) OF THIS
SECTION, THE EXECUTIVE DIRECTOR SHALL ISSUE ADDITIONAL
TRANSPORTATION REVENUE ANTICIPATION NOTES IN A MAXIMUM
AMOUNT OF THREE BILLION FIVE HUNDRED MILLION DOLLARS AND WITH
A MAXIMUM REPAYMENT COST OF FIVE BILLION DOLLARS. THE MAXIMUM
REPAYMENT TERM FOR ANY NOTES ISSUED PURSUANT TO THIS
SUBSECTION (13)(b) IS TWENTY YEARS, AND THE CERTIFICATE, TRUST
INDENTURE, OR OTHER INSTRUMENT AUTHORIZING THEIR ISSUANCE SHALL
PROVIDE THAT THE STATE MAY PAY THE NOTES IN FULL BEFORE THE END
OF THE SPECIFIED PAYMENT TERM WITHOUT PENALTY.
(II) NOTWITHSTANDING SECTION 43-1-113 (19) AND SUBSECTION
(12)(a) OF THIS SECTION, BEFORE ISSUING ANY REVENUE ANTICIPATION
NOTES AS AUTHORIZED BY SUBSECTION (13)(b)(I) OF THIS SECTION, THE
TRANSPORTATION COMMISSION SHALL ADOPT A RESOLUTION PLEDGING
TO ANNUALLY ALLOCATE FROM LEGALLY AVAILABLE MONEY UNDER ITS
CONTROL ANY AMOUNT NEEDED FOR PAYMENT OF THE NOTES UNTIL THE
NOTES ARE FULLY REPAID.
(III) THE SECRETARY OF STATE SHALL SUBMIT TO THE REGISTERED
ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION AT THE
NOVEMBER 2019 STATEWIDE ELECTION THE FOLLOWING BALLOT ISSUE:
"SHALL STATE OF COLORADO DEBT BE INCREASED UP TO $3,500,000,000,
WITH A MAXIMUM REPAYMENT COST OF $5,000,000,000, THROUGH THE
ISSUANCE OF TRANSPORTATION REVENUE ANTICIPATION NOTES FOR THE
PURPOSE OF ADDRESSING CRITICAL PRIORITY TRANSPORTATION NEEDS IN
THE STATE BY FINANCING TRANSPORTATION PROJECTS, SHALL NOTE
PROCEEDS AND INVESTMENT EARNINGS ON NOTE PROCEEDS BE EXCLUDED
FROM STATE FISCAL YEAR SPENDING LIMITS, AND SHALL THE AMOUNT OF
LEASE-PURCHASE AGREEMENTS REQUIRED BY CURRENT LAW TO BE
ISSUED FOR THE PURPOSE OF FINANCING TRANSPORTATION PROJECTS BE
REDUCED?"
(IV) WITHIN FORTY-FIVE DAYS OF THE EFFECTIVE DATE OF THIS
SUBSECTION (13)(b)(IV), THE DEPARTMENT SHALL PROVIDE TO THE
DIRECTOR OF RESEARCH OF THE LEGISLATIVE COUNCIL THE MOST RECENT
AVAILABLE LIST OF QUALIFIED FEDERAL AID TRANSPORTATION PROJECTS,
INCLUDING MULTIMODAL CAPITAL PROJECTS, THAT ARE DESIGNATED FOR
TIER 1 FUNDING AS TEN-YEAR DEVELOPMENT PROGRAM PROJECTS ON THE
DEPARTMENT'S 2019 DEVELOPMENT PROGRAM PROJECT LIST AND THAT
THE DEPARTMENT WILL FUND WITH PROCEEDS OF ANY TRANSPORTATION
REVENUE ANTICIPATION NOTES ISSUED AS AUTHORIZED BY THIS
SUBSECTION (13)(b). IN ORDER TO FULLY INFORM THE VOTERS OF THE
STATE CONCERNING THE PROJECTS TO BE FUNDED WITH PROCEEDS OF ANY
SUCH ADDITIONAL TRANSPORTATION REVENUE ANTICIPATION NOTES
BEFORE THE VOTERS VOTE ON THE BALLOT QUESTION SPECIFIED IN
SUBSECTION (13)(b)(III) OF THIS SECTION, THE DIRECTOR OF RESEARCH
SHALL PUBLISH THE LIST, INCLUDING ANY SUBSEQUENT UPDATES TO THE
LIST MADE BEFORE FINAL APPROVAL BY THE LEGISLATIVE COUNCIL OF THE
2018 BALLOT INFORMATION BOOKLET PREPARED PURSUANT TO SECTION
1-40-124.5, WHICH UPDATES THE DEPARTMENT SHALL EXPEDITIOUSLY
PROVIDE TO THE DIRECTOR OF RESEARCH, IN THE BALLOT INFORMATION
BOOKLET.
(V) (A) THIS SUBSECTION (13)(b) IS REPEALED, EFFECTIVE
JANUARY 1, 2019, IF A BALLOT ISSUE INITIATED BY PRIVATE CITIZENS
THAT AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2018
GENERAL ELECTION AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR".
(B) THIS SUBSECTION (13)(b) IS REPEALED, EFFECTIVE JANUARY
1, 2020, IF A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE
IN SUBSECTION (13)(b)(III) OF THIS SECTION VOTE "NO/AGAINST".
(C) THIS SUBSECTION (13)(b)(V) IS REPEALED, EFFECTIVE
JANUARY 1, 2020, IF A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE IN SUBSECTION (13)(b)(III) OF THIS SECTION VOTE
"YES/FOR".
SECTION 10. In Colorado Revised Statutes, amend 43-4-714
as follows:
43-4-714. Priority of strategic transportation project
investment program - additional contract award process
requirements -use of note proceeds - repeal. (1) If the executive
director issues any revenue anticipation notes in accordance with the
provisions of this part 7, the proceeds from the sale of such notes that are
not otherwise pledged for the payment of such notes shall be used for the
qualified federal aid transportation projects included in the strategic
transportation project investment program of the department of
transportation.
(2) (a) IN ADDITION TO THE REQUIREMENT SPECIFIED IN
SUBSECTION (1) OF THIS SECTION, NET PROCEEDS FROM THE SALE OF ANY
TRANSPORTATION REVENUE ANTICIPATION NOTES THAT THE EXECUTIVE
DIRECTOR ISSUES PURSUANT TO SECTION 43-4-705 (13)(b) THAT ARE NOT
OTHERWISE PLEDGED FOR THE PAYMENT OF THE NOTES SHALL BE
CREDITED TO THE STATE HIGHWAY FUND AND EXPENDED BY THE
DEPARTMENT ONLY FOR QUALIFIED FEDERAL AID TRANSPORTATION
PROJECTS THAT ARE INCLUDED IN THE STRATEGIC TRANSPORTATION
PROJECT INVESTMENT PROGRAM OF THE DEPARTMENT OF
TRANSPORTATION AND THAT ARE DESIGNATED FOR TIER 1 FUNDING AS
TEN-YEAR DEVELOPMENT PROGRAM PROJECTS ON THE DEPARTMENT'S
DEVELOPMENT PROGRAM PROJECT LIST, WITH AT LEAST TWENTY-FIVE
PERCENT OF THE NET PROCEEDS OF TRANSPORTATION REVENUE
ANTICIPATION NOTES BEING USED FOR PROJECTS THAT ARE LOCATED IN
COUNTIES WITH POPULATIONS OF FIFTY THOUSAND OR LESS AS OF JULY
2015 AS REPORTED BY THE STATE DEMOGRAPHY OFFICE OF THE
DEPARTMENT OF LOCAL AFFAIRS. NO MORE THAN NINETY PERCENT OF THE
NET PROCEEDS OF TRANSPORTATION REVENUE ANTICIPATION NOTES
SHALL BE EXPENDED FOR HIGHWAY PURPOSES OR HIGHWAY-RELATED
CAPITAL IMPROVEMENTS, AND AT LEAST TEN PERCENT OF THE NET
PROCEEDS SHALL BE EXPENDED FOR TRANSIT PURPOSES OR FOR
TRANSIT-RELATED CAPITAL IMPROVEMENTS, INCLUDING SOUND WALLS
ALONG INTERSTATE HIGHWAYS.
(b) (I) THIS SUBSECTION (2) IS REPEALED:
(A) EFFECTIVE JANUARY 1, 2019, IF A BALLOT ISSUE INITIATED BY
PRIVATE CITIZENS THAT AUTHORIZES THE STATE TO ISSUE
TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2018 GENERAL ELECTION AND A MAJORITY OF THE
ELECTORS VOTING ON THE BALLOT ISSUE VOTE "YES/FOR".
(B) EFFECTIVE JANUARY 1, 2020, IF A BALLOT ISSUE THAT
AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2019
STATEWIDE ELECTION PURSUANT TO SECTION 43-4-705 (13)(b) AND A
MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
"NO/AGAINST".
(II) THIS SUBSECTION (2)(b) IS REPEALED, EFFECTIVE JANUARY 1,
2020, IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR".
SECTION 11. Effective date - applicability. (1) Except as
otherwise provided in subsection (2) of this section, this act takes effect
upon passage.
(2) Section 4 of this act takes effect only if either:
(a) A ballot issue initiated by private citizens that authorizes the
state to issue transportation revenue anticipation notes is submitted to the
registered electors of the state for their approval or rejection at the
November 2018 general election and a majority of the electors voting on
the ballot issue vote "Yes/For", and, in such case, section 4 of this act
takes effect on the date of the official declaration of the vote thereon by
the governor; or
(b) A ballot issue that authorizes the state to issue transportation
revenue anticipation notes is submitted to the registered electors of the
state for their approval or rejection at the November 2019 statewide
election pursuant to section 43-4-705 (13)(b), Colorado Revised Statutes,
enacted in section 9 of this act, and a majority of the electors voting on
the ballot issue vote "Yes/For", and, in such case, section 4 of this act
takes effect on the date of the official declaration of the vote thereon by
the governor.
SECTION 12. Safety clause. The general assembly hereby finds,
determines, and declares that this act is necessary for the immediate
preservation of the public peace, health, and safety.".

Page 1, line 101, strike "FUNDING, AND, IN".

Page 1, strike lines 102 through 113.

Page 2, strike lines 101 through 105 and substitute "FUNDING.".


Amendment No. 8(L.047), by Senator Scott.

Amend the Zenzinger floor amendment (SB001_L.041), page 6, line 1,
strike "EXCEPT" and substitute "THE DEPARTMENT OF TRANSPORTATION
SHALL EXPEND MONEY TRANSFERRED FROM THE GENERAL FUND TO THE
STATE HIGHWAY FUND PURSUANT TO SECTION 24-75-219 (5)(a) ONLY FOR
NEW HIGHWAY CONSTRUCTION PROJECTS".

Page 6, lines 4 and 5, strike "SECTION 24-75-219 (5)" and substitute
"SECTION 24-75-219 (5)(b)".


As amended, ordered engrossed and placed on the calendar for third reading and final
passage.

(For further action, see amendments to the report of the Committee of the Whole.)

Senate Journal, March 21
SB18-001 by Senator(s) Baumgardner and Cooke, Coram, Crowder, Gardner, Grantham, Hill,
Holbert, Lambert, Lundberg, Marble, Neville T., Scott, Sonnenberg, Tate; also
Representative(s) Buck, Leonard--Concerning transportation infrastructure funding, and, in
connection therewith, requiring the transportation commission to submit a ballot question
to the voters of the state at the November 2018 general election, which, if approved, would
authorize the state, with no increase in any taxes, to issue additional transportation revenue
anticipation notes for the purpose of addressing critical priority transportation needs in the
state by funding transportation projects; would exclude note proceeds and investment
earnings on note proceeds from state fiscal year spending limits; would repeal an existing
requirement that the state treasurer execute lease-purchase agreements for the purpose of
funding transportation projects; and would require ten percent of state sales and use tax net
revenue to be credited to the state highway fund for the purpose of repaying any notes
issued and funding transportation projects.

Senator Neville moved to amend the Report of the Committee of the Whole to show that
the following Zenzinger floor amendment, (L.041) to SB 18-001, did not pass.

Amend printed bill, strike everything below the enacting clause and
substitute:
"SECTION 1. Short title. The short title of this act is the "Fix
Colorado Roads Act".
SECTION 2. Legislative declaration. (1) The general assembly
hereby finds and declares that:
(a) Colorado's population is expected to increase to over six
million nine hundred thousand by 2030;
(b) Population growth has significantly increased traffic and
congestion and will continue to do so in the future, causing longer travel
times, increasing air pollution, decreasing Coloradans' access to
recreational opportunities, and accelerating the deterioration of
Colorado's transportation infrastructure;
(c) The growth of the economy of the state has prompted new and
ever-increasing uses of public highways, roads, and other transportation
infrastructure, and the existing transportation infrastructure of the state
cannot accommodate such greatly increased uses;
(d) In order to preserve and improve Colorado's economic
prosperity and quality of life, it is necessary to develop and maintain a
modern, efficient, and cost-effective multimodal transportation system
that can move people, goods, and information without undue delays or
environmental consequences;
(e) One of the major concerns of the citizens of the state is the
ability of the state and local governments to address the long-term
transportation infrastructure needs of the state that are critical to the
continued growth of the state's economy and the maintenance of citizens'
quality of life;
(f) The state has significantly decreased its contribution of general
state revenues available in recent years to fund critical priority
transportation infrastructure needs, and current transportation funding
mechanisms do not provide adequate revenue to keep pace with the
increasing demands on transportation infrastructure statewide;
(g) State and regional economically significant transportation
corridors, and their related congestion relief projects, remain unfunded
or underfunded while construction costs escalate and congestion
worsens;
(h) In 1999, the general assembly and the voters of the state
approved Referendum A, which authorized the state to issue
transportation revenue anticipation notes to accelerate the funding and
completion of twenty-eight strategic transportation projects in significant
corridors, including the T-REX project, the highly successful expansion
and congestion mitigation project for the Interstate 25 corridor in the
Denver metropolitan area;
(i) The success of the 1999 transportation revenue anticipation
notes program shows that leveraging existing revenue is a prudent and
cost-effective means to accelerate and deliver large-scale and
economically significant transportation projects throughout the state;
(j) In 2017, the general assembly enacted Senate Bill 17-267,
which:
(I) Requires the state to enter into lease-purchase agreements for
state facilities in the amount of three hundred eighty million dollars
during the 2018-19 fiscal year and five hundred million dollars during
each of the 2019-20, 2020-21, and 2021-22 state fiscal years in order to
accelerate the funding of high-priority transportation projects throughout
the state; and
(II) Significantly increases the amount of money that the state
may retain and spend under its fiscal year spending limit;
(k) While the lease-purchase agreements required by Senate Bill
17-267 will provide some increased funding for transportation, such
agreements leverage state capital assets, rather than state revenue, and,
to the extent currently authorized, provide less total funding than
transportation revenue anticipation notes can;
(l) If the state enters into all of the lease-purchase agreements
required by Senate Bill 17-267, the state will be required to spend
approximately one hundred fifty million dollars per year, including one
hundred million dollars per year from the state general fund and fifty
million dollars per year from money under the control of the
transportation commission, to repay the lease-purchase agreements;
(m) It is necessary, in order to avoid delaying critical
transportation projects that are expected to be funded in part with
proceeds of lease-purchase agreements to be issued during the 2018-19
state fiscal year, for the state to enter into lease-purchase agreements as
required by Senate Bill 17-267 during the 2018-19 state fiscal year;
(n) It is also necessary, appropriate, and in the best interest of the
state to:
(I) Repeal the requirement that the state enter into additional
lease-purchase agreements during the 2019-20, 2020-21, and 2021-22
state fiscal years;
(II) If required statewide voter approval can be obtained either at
the November 2018 general election for a citizen-initiated ballot measure
that authorizes the state to issue transportation revenue notes or at the
November 2019 statewide election for a ballot issue submitted by the
state that authorizes the state to issue transportation revenue anticipation
notes as specified in this act, use transportation revenue anticipation
notes instead of lease-purchase agreements to finance federal aid
transportation projects because doing so will generate a larger amount of
up-front revenue for the projects and will enable the state to design and
construct the projects more efficiently; and
(III) Use the money that will no longer be needed to repay
lease-purchase agreements, as well as a portion of the additional general
fund money that the state may retain and spend under its fiscal year
spending limit due to the enactment of Senate Bill 17-267, to repay the
transportation revenue anticipation notes and provide additional funding
for transportation infrastructure projects and maintenance; and
(o) The issuance of new transportation revenue anticipation notes
in lieu of the execution of lease-purchase agreements will accelerate the
funding and efficient completion of a greater number of specific and
designated projects throughout the state that the Colorado department of
transportation and the transportation planning regions of the state have
determined to be of highest priority and economically significant to the
state and the regions in which they will be built.
(2) The general assembly further finds and declares that:
(a) This act does not increase taxes or fees or refer a ballot issue
to the voters of the state seeking their approval to raise taxes or fees;
(b) Private citizens have proposed ballot measures by initiative,
one or more of which may be placed on the ballot for the November 2018
general election, which, if approved by the voters of the state, will
authorize the state to issue transportation revenue anticipation notes to
provide additional funding for transportation infrastructure projects; and
(c) If such a citizen-initiated ballot measure is not placed on the
ballot for the November 2018 general election or if the voters reject
every such ballot measure that is placed on that ballot, it is necessary and
appropriate for the state to refer a ballot issue that authorizes the state to
issue transportation revenue anticipation notes to the voters of the state
at the November 2019 statewide election as specified in this act.
SECTION 3. In Colorado Revised Statutes, 24-75-219, add
(1)(g) and (5) as follows:
24-75-219. Transfers - transportation - capital construction
- definitions - repeal. (1) As used in this section, unless the context
otherwise requires:
(g) "STATE HIGHWAY FUND" MEANS THE STATE HIGHWAY FUND
CREATED IN SECTION 43-1-219.
(5) (a) ON JUNE 30, 2019, THE STATE TREASURER SHALL
TRANSFER FIVE HUNDRED MILLION DOLLARS FROM THE GENERAL FUND TO
THE STATE HIGHWAY FUND FOR EXPENDITURE IN ACCORDANCE WITH
SECTION 43-1-220.5.
(b) (I) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (5)(b)(II)
OF THIS SECTION, ON JUNE 30, 2020, AND ON EACH SUCCEEDING JUNE 30
THROUGH JUNE 30, 2039, THE STATE TREASURER SHALL TRANSFER TWO
HUNDRED FIFTY MILLION DOLLARS FROM THE GENERAL FUND TO THE
STATE HIGHWAY FUND FOR EXPENDITURE IN ACCORDANCE WITH SECTION
43-1-220.5.
(II) (A) THIS SUBSECTION (5)(b) IS REPEALED, EFFECTIVE
JANUARY 1, 2020, IF EITHER A BALLOT ISSUE THAT AUTHORIZES THE
STATE TO ISSUE TRANSPORTATION REVENUE ANTICIPATION NOTES IS NOT
SUBMITTED TO THE REGISTERED ELECTORS OF THE STATE FOR THEIR
APPROVAL OR REJECTION AT THE NOVEMBER 2019 STATEWIDE ELECTION
PURSUANT TO SECTION 43-4-705 (13)(b) OR SUCH A BALLOT ISSUE IS
SUBMITTED AND A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT
ISSUE VOTE "NO/AGAINST".
(B) THIS SUBSECTION (5)(b)(II) IS REPEALED, EFFECTIVE JANUARY
1, 2020, IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR".
SECTION 4. In Colorado Revised Statutes, 24-82-1303, amend
(2)(a), (2)(b), and (2)(d)(II); and repeal (1) as follows:
24-82-1303. Lease-purchase agreements for capital
construction and transportation projects. (1) On or before December
31, 2017, the state architect, the director of the office of state planning
and budgeting or his or her designee, and the state institutions of higher
education shall identify and prepare a collaborative list of eligible state
facilities that can be collateralized as part of the lease-purchase
agreements for capital construction and transportation projects authorized
in this part 13. The total current replacement value of the identified
buildings must equal at least two billion dollars.
(2) (a) Notwithstanding the provisions of sections 24-82-102
(1)(b) and 24-82-801, and pursuant to section 24-36-121, no sooner than
July 1, 2018, the state, acting by and through the state treasurer, shall
execute lease-purchase agreements, each for no more than twenty years
of annual payments, for the projects described in subsection (4) of this
section. The state shall execute the lease-purchase agreements only in
accordance with the following schedule: DURING THE 2018-19 STATE
FISCAL YEAR IN AN AMOUNT UP TO FIVE HUNDRED MILLION DOLLARS.
(I) During the 2018-19 state fiscal year, the state shall execute
lease-purchase agreements in an amount up to five hundred million
dollars;
(II) During the 2019-20 state fiscal year, the state shall execute
lease-purchase agreements in an amount up to five hundred million
dollars;
(III) During the 2020-21 state fiscal year, the state shall execute
lease-purchase agreements in an amount up to five hundred million
dollars; and
(IV) During the 2021-22 fiscal year, the state shall execute
lease-purchase agreements in an amount up to five hundred million
dollars.
(b) The anticipated annual state-funded payments for the principal
and interest components of the amount payable under all lease-purchase
agreements entered into pursuant to subsection (2)(a) of this section shall
not exceed one hundred fifty THIRTY-SEVEN million FIVE HUNDRED
THOUSAND dollars.
(d) Any lease-purchase agreement executed as required by
subsection (2)(a) of this section shall provide that all of the obligations
of the state under the agreement are subject to the action of the general
assembly in annually making money available for all payments
thereunder. Payments under any lease-purchase agreement must be made,
subject to annual allocation pursuant to section 43-1-113 by the
transportation commission created in section 43-1-106 (1) or subject to
annual appropriation by the general assembly, as applicable, from the
following sources of money:
(II) Next, fifty TEN million ONE HUNDRED THOUSAND dollars
annually, or any lesser amount that is sufficient to make each full
payment due, shall be paid from any legally available money under the
control of the transportation commission solely for the purpose of
allowing the construction, supervision, and maintenance of state
highways to be funded with the proceeds of lease-purchase agreements
as specified in subsection (4)(b) of this section and section 43-4-206
(1)(b)(V); and
SECTION 5. In Colorado Revised Statutes, add 43-1-220.5 as
follows:
43-1-220.5. State highway fund - use of money transferred
from general fund - repayment of transportation revenue
anticipation notes - repeal. (1) EXCEPT AS OTHERWISE PROVIDED IN
SUBSECTIONS (2) AND (3) OF THIS SECTION, THE DEPARTMENT OF
TRANSPORTATION SHALL EXPEND MONEY TRANSFERRED FROM THE
GENERAL FUND TO THE STATE HIGHWAY FUND PURSUANT TO SECTION
24-75-219 (5) ONLY FOR QUALIFIED FEDERAL AID TRANSPORTATION
PROJECTS THAT ARE INCLUDED IN THE STRATEGIC TRANSPORTATION
PROJECT INVESTMENT PROGRAM OF THE DEPARTMENT OF
TRANSPORTATION AND THAT ARE DESIGNATED FOR TIER 1 FUNDING AS
TEN-YEAR DEVELOPMENT PROGRAM PROJECTS ON THE DEPARTMENT'S
DEVELOPMENT PROGRAM PROJECT LIST, WITH AT LEAST TWENTY-FIVE
PERCENT OF THE GENERAL FUND MONEY BEING USED FOR PROJECTS THAT
ARE LOCATED IN COUNTIES WITH POPULATIONS OF FIFTY THOUSAND OR
LESS AS OF JULY 2015 AS REPORTED BY THE STATE DEMOGRAPHY OFFICE
OF THE DEPARTMENT OF LOCAL AFFAIRS; EXCEPT THAT SUCH GENERAL
FUND MONEY MAY ALSO BE EXPENDED FOR MAINTENANCE OF THE STATE
HIGHWAY SYSTEM. NO MORE THAN NINETY PERCENT OF THE GENERAL
FUND MONEY SHALL BE EXPENDED FOR HIGHWAY PURPOSES OR
HIGHWAY-RELATED CAPITAL IMPROVEMENTS, AND AT LEAST TEN
PERCENT OF THE GENERAL FUND MONEY SHALL BE EXPENDED FOR
TRANSIT PURPOSES OR FOR TRANSIT-RELATED CAPITAL IMPROVEMENTS
(2) (a) IF A BALLOT ISSUE INITIATED BY PRIVATE CITIZENS THAT
AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2018
GENERAL ELECTION AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR", THE DEPARTMENT SHALL EXPEND MONEY
TRANSFERRED FROM THE GENERAL FUND TO THE STATE HIGHWAY FUND
PURSUANT TO SECTION 24-75-219 (5) FIRST, TO THE EXTENT NEEDED, FOR
MAINTENANCE OF THE TRANSPORTATION INFRASTRUCTURE PROJECTS
FINANCED BY THE NOTES AND THEREAFTER EXCLUSIVELY FOR
MAINTENANCE OF THE STATE HIGHWAY SYSTEM.
(b) (I) THIS SUBSECTION (2) IS REPEALED, EFFECTIVE JANUARY 1,
2019, IF EITHER:
(A) A BALLOT ISSUE INITIATED BY PRIVATE CITIZENS THAT
AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
ANTICIPATION NOTES TO FINANCE THE CONSTRUCTION OF
TRANSPORTATION INFRASTRUCTURE PROJECTS IS NOT SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2018 GENERAL ELECTION; OR
(B) SUCH A BALLOT ISSUE IS SUBMITTED AND A MAJORITY OF THE
ELECTORS VOTING ON THE BALLOT ISSUE VOTE "NO/AGAINST".
(II) THIS SUBSECTION (2)(b) IS REPEALED, EFFECTIVE JANUARY 1,
2019, IF A BALLOT ISSUE INITIATED BY PRIVATE CITIZENS THAT
AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2018
GENERAL ELECTION AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR".
(3) (a) IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR", THE DEPARTMENT SHALL EXPEND MONEY
TRANSFERRED FROM THE GENERAL FUND TO THE STATE HIGHWAY FUND
PURSUANT TO SECTION 24-75-219 (5) FIRST, TO THE EXTENT NEEDED, TO
MAKE THE FULL AMOUNT OF PAYMENTS DUE ON THE NOTES AND
THEREAFTER EXCLUSIVELY FOR MAINTENANCE OF THE STATE HIGHWAY
SYSTEM.
(b) (I) THIS SUBSECTION (3) IS REPEALED:
(A) EFFECTIVE JANUARY 1, 2019, IF A BALLOT ISSUE INITIATED BY
PRIVATE CITIZENS THAT AUTHORIZES THE STATE TO ISSUE
TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2018 GENERAL ELECTION AND A MAJORITY OF THE
ELECTORS VOTING ON THE BALLOT ISSUE VOTE "YES/FOR";
(B) EFFECTIVE JANUARY 1, 2020, IF A BALLOT ISSUE THAT
AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2019
STATEWIDE ELECTION PURSUANT TO SECTION 43-4-705 (13)(b) AND A
MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
"NO/AGAINST".
(II) THIS SUBSECTION (3)(b) IS REPEALED, EFFECTIVE JANUARY 1,
2020, IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR".
SECTION 6. In Colorado Revised Statutes, 43-1-1401, amend
(2) as follows:
43-1-1401. Legislative declaration. (2) The general assembly
intends that this part 14 authorize AUTHORIZES the department of
transportation to enter INTO design-build contracts and to use an adjusted
score design-build selection and procurement process for particular
transportation projects regardless of the minimum or maximum cost of
such projects, based on the individual needs and merits of such projects,
and subject to approval by the transportation commission. The general
assembly also intends that the department's use of an adjusted score
design-build contract process shall DOES not prohibit use of the low bid
process currently used by the department pursuant to part 1 of article 92
of title 24 and part 14 of article 30 of title 24. C.R.S. THE GENERAL
ASSEMBLY FURTHER INTENDS THAT WHEN DETERMINING WHETHER TO USE
THE LOW BID PROCESS OR THE DESIGN-BUILD PROCESS TO CONTRACT FOR
A PROJECT, THE DEPARTMENT STRONGLY CONSIDER THE EXTENT TO
WHICH USE OF THE DESIGN-BUILD PROCESS IS LIKELY, BY EXCLUDING
CONTRACTORS THAT LACK THE CAPABILITY OR SIZE TO DO BOTH THE
DESIGN AND CONSTRUCTION WORK FOR THE PROJECT, TO REDUCE
COMPETITION IN BIDDING FOR THE CONTRACT, INCREASE THE TOTAL
COSTS TO THE STATE OF DESIGNING AND BUILDING THE PROJECT, OR BOTH.
SECTION 7. In Colorado Revised Statutes, 43-4-206, amend (1)
introductory portion, (2)(b) introductory portion, (2)(b)(III), and
(2)(b)(IV) as follows:
43-4-206. State allocation. (1) Except as otherwise provided in
subsections (1)(a)(V), SUBSECTIONS (1)(b)(V), (2), and (3) of this section,
after paying the costs of the Colorado state patrol and any other costs of
the department, exclusive of highway construction, highway
improvements, or highway maintenance, that are appropriated by the
general assembly, money in the highway users tax fund shall be paid to
the state highway fund and expended for the following purposes:
(2) (b) Beginning in 1998, the department of transportation shall
report annually to the transportation committee of the senate and the
transportation and energy committee of the house of representatives
concerning the revenue expended by the department pursuant to
subsection (2)(a) of this section and, beginning in 2018 2019, any STATE
GENERAL FUND MONEY THAT IS CREDITED TO THE STATE HIGHWAY FUND
PURSUANT TO SECTION 24-75-219 (5) AND EXPENDED BY THE
DEPARTMENT PURSUANT TO SECTION 43-1-220.5, AND ANY NET proceeds
of lease-purchase agreements executed as required by section 24-82-1303
(2)(a) that are credited to the state highway fund pursuant to section
24-82-1303 (4)(b) and expended by the department pursuant to
subsection (1)(b)(V) of this section. The department shall present the
report at the joint meeting required under section 43-1-113 (9)(a), and the
report shall describe for each fiscal year, if applicable:
(III) The projected amounts of revenue and net proceeds that the
department expects to receive under this subsection (2), and subsection
(1)(b)(V) of this section SECTION 24-75-219 (5), AND SECTION
24-82-1303 (4)(b) during the fiscal year;
(IV) The amount of revenue and net proceeds that the department
has already received under this subsection (2), and subsection (1)(b)(V)
of this section SECTION 24-75-219 (5), AND SECTION 24-82-1303 (4)(b)
during the fiscal year; and
SECTION 8. In Colorado Revised Statutes, 43-4-702, repeal
(7); and add (9) as follows:
43-4-702. Definitions. As used in this part 7, unless the context
otherwise requires:
(7) "Revenue anticipation notes" or "notes" means revenue
anticipation notes authorized by and issued in accordance with this part
7.
(9) "TRANSPORTATION REVENUE ANTICIPATION NOTES",
"REVENUE ANTICIPATION NOTES", OR "NOTES" MEANS REVENUE
ANTICIPATION NOTES AUTHORIZED BY AND ISSUED IN ACCORDANCE WITH
THIS PART 7.
SECTION 9. In Colorado Revised Statutes, 43-4-705, amend
(13) as follows:
43-4-705. Revenue anticipation notes - repeal.
(13) (a) Notwithstanding any other provision of this part 7 to the
contrary, the executive director shall have the authority to issue revenue
anticipation notes pursuant to this part 7 only if voters statewide approve
the ballot question submitted at the November 1999 statewide election
pursuant to section 43-4-703 (1) and only then to the extent allowed
under the maximum amounts of debt and repayment cost so approved.
(b) (I) SUBJECT TO VOTER APPROVAL OF THE BALLOT ISSUE
SUBMITTED AT THE NOVEMBER 2019 GENERAL ELECTION PURSUANT TO
SUBSECTION (13)(b)(III) OF THIS SECTION AND THE REPAYMENT FUNDING
COMMITMENT REQUIREMENT SPECIFIED IN SUBSECTION (13)(b)(II) OF THIS
SECTION, THE EXECUTIVE DIRECTOR SHALL ISSUE ADDITIONAL
TRANSPORTATION REVENUE ANTICIPATION NOTES IN A MAXIMUM
AMOUNT OF THREE BILLION FIVE HUNDRED MILLION DOLLARS AND WITH
A MAXIMUM REPAYMENT COST OF FIVE BILLION DOLLARS. THE MAXIMUM
REPAYMENT TERM FOR ANY NOTES ISSUED PURSUANT TO THIS
SUBSECTION (13)(b) IS TWENTY YEARS, AND THE CERTIFICATE, TRUST
INDENTURE, OR OTHER INSTRUMENT AUTHORIZING THEIR ISSUANCE SHALL
PROVIDE THAT THE STATE MAY PAY THE NOTES IN FULL BEFORE THE END
OF THE SPECIFIED PAYMENT TERM WITHOUT PENALTY.
(II) NOTWITHSTANDING SECTION 43-1-113 (19) AND SUBSECTION
(12)(a) OF THIS SECTION, BEFORE ISSUING ANY REVENUE ANTICIPATION
NOTES AS AUTHORIZED BY SUBSECTION (13)(b)(I) OF THIS SECTION, THE
TRANSPORTATION COMMISSION SHALL ADOPT A RESOLUTION PLEDGING
TO ANNUALLY ALLOCATE FROM LEGALLY AVAILABLE MONEY UNDER ITS
CONTROL ANY AMOUNT NEEDED FOR PAYMENT OF THE NOTES UNTIL THE
NOTES ARE FULLY REPAID.
(III) THE SECRETARY OF STATE SHALL SUBMIT TO THE REGISTERED
ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION AT THE
NOVEMBER 2019 STATEWIDE ELECTION THE FOLLOWING BALLOT ISSUE:
"SHALL STATE OF COLORADO DEBT BE INCREASED UP TO $3,500,000,000,
WITH A MAXIMUM REPAYMENT COST OF $5,000,000,000, THROUGH THE
ISSUANCE OF TRANSPORTATION REVENUE ANTICIPATION NOTES FOR THE
PURPOSE OF ADDRESSING CRITICAL PRIORITY TRANSPORTATION NEEDS IN
THE STATE BY FINANCING TRANSPORTATION PROJECTS, SHALL NOTE
PROCEEDS AND INVESTMENT EARNINGS ON NOTE PROCEEDS BE EXCLUDED
FROM STATE FISCAL YEAR SPENDING LIMITS, AND SHALL THE AMOUNT OF
LEASE-PURCHASE AGREEMENTS REQUIRED BY CURRENT LAW TO BE
ISSUED FOR THE PURPOSE OF FINANCING TRANSPORTATION PROJECTS BE
REDUCED?"
(IV) WITHIN FORTY-FIVE DAYS OF THE EFFECTIVE DATE OF THIS
SUBSECTION (13)(b)(IV), THE DEPARTMENT SHALL PROVIDE TO THE
DIRECTOR OF RESEARCH OF THE LEGISLATIVE COUNCIL THE MOST RECENT
AVAILABLE LIST OF QUALIFIED FEDERAL AID TRANSPORTATION PROJECTS,
INCLUDING MULTIMODAL CAPITAL PROJECTS, THAT ARE DESIGNATED FOR
TIER 1 FUNDING AS TEN-YEAR DEVELOPMENT PROGRAM PROJECTS ON THE
DEPARTMENT'S 2019 DEVELOPMENT PROGRAM PROJECT LIST AND THAT
THE DEPARTMENT WILL FUND WITH PROCEEDS OF ANY TRANSPORTATION
REVENUE ANTICIPATION NOTES ISSUED AS AUTHORIZED BY THIS
SUBSECTION (13)(b). IN ORDER TO FULLY INFORM THE VOTERS OF THE
STATE CONCERNING THE PROJECTS TO BE FUNDED WITH PROCEEDS OF ANY
SUCH ADDITIONAL TRANSPORTATION REVENUE ANTICIPATION NOTES
BEFORE THE VOTERS VOTE ON THE BALLOT QUESTION SPECIFIED IN
SUBSECTION (13)(b)(III) OF THIS SECTION, THE DIRECTOR OF RESEARCH
SHALL PUBLISH THE LIST, INCLUDING ANY SUBSEQUENT UPDATES TO THE
LIST MADE BEFORE FINAL APPROVAL BY THE LEGISLATIVE COUNCIL OF THE
2018 BALLOT INFORMATION BOOKLET PREPARED PURSUANT TO SECTION
1-40-124.5, WHICH UPDATES THE DEPARTMENT SHALL EXPEDITIOUSLY
PROVIDE TO THE DIRECTOR OF RESEARCH, IN THE BALLOT INFORMATION
BOOKLET.
(V) (A) THIS SUBSECTION (13)(b) IS REPEALED, EFFECTIVE
JANUARY 1, 2019, IF A BALLOT ISSUE INITIATED BY PRIVATE CITIZENS
THAT AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2018
GENERAL ELECTION AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR".
(B) THIS SUBSECTION (13)(b) IS REPEALED, EFFECTIVE JANUARY
1, 2020, IF A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE
IN SUBSECTION (13)(b)(III) OF THIS SECTION VOTE "NO/AGAINST".
(C) THIS SUBSECTION (13)(b)(V) IS REPEALED, EFFECTIVE
JANUARY 1, 2020, IF A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE IN SUBSECTION (13)(b)(III) OF THIS SECTION VOTE
"YES/FOR".
SECTION 10. In Colorado Revised Statutes, amend 43-4-714
as follows:
43-4-714. Priority of strategic transportation project
investment program - additional contract award process
requirements -use of note proceeds - repeal. (1) If the executive
director issues any revenue anticipation notes in accordance with the
provisions of this part 7, the proceeds from the sale of such notes that are
not otherwise pledged for the payment of such notes shall be used for the
qualified federal aid transportation projects included in the strategic
transportation project investment program of the department of
transportation.
(2) (a) IN ADDITION TO THE REQUIREMENT SPECIFIED IN
SUBSECTION (1) OF THIS SECTION, NET PROCEEDS FROM THE SALE OF ANY
TRANSPORTATION REVENUE ANTICIPATION NOTES THAT THE EXECUTIVE
DIRECTOR ISSUES PURSUANT TO SECTION 43-4-705 (13)(b) THAT ARE NOT
OTHERWISE PLEDGED FOR THE PAYMENT OF THE NOTES SHALL BE
CREDITED TO THE STATE HIGHWAY FUND AND EXPENDED BY THE
DEPARTMENT ONLY FOR QUALIFIED FEDERAL AID TRANSPORTATION
PROJECTS THAT ARE INCLUDED IN THE STRATEGIC TRANSPORTATION
PROJECT INVESTMENT PROGRAM OF THE DEPARTMENT OF
TRANSPORTATION AND THAT ARE DESIGNATED FOR TIER 1 FUNDING AS
TEN-YEAR DEVELOPMENT PROGRAM PROJECTS ON THE DEPARTMENT'S
DEVELOPMENT PROGRAM PROJECT LIST, WITH AT LEAST TWENTY-FIVE
PERCENT OF THE NET PROCEEDS OF TRANSPORTATION REVENUE
ANTICIPATION NOTES BEING USED FOR PROJECTS THAT ARE LOCATED IN
COUNTIES WITH POPULATIONS OF FIFTY THOUSAND OR LESS AS OF JULY
2015 AS REPORTED BY THE STATE DEMOGRAPHY OFFICE OF THE
DEPARTMENT OF LOCAL AFFAIRS. NO MORE THAN NINETY PERCENT OF THE
NET PROCEEDS OF TRANSPORTATION REVENUE ANTICIPATION NOTES
SHALL BE EXPENDED FOR HIGHWAY PURPOSES OR HIGHWAY-RELATED
CAPITAL IMPROVEMENTS, AND AT LEAST TEN PERCENT OF THE NET
PROCEEDS SHALL BE EXPENDED FOR TRANSIT PURPOSES OR FOR
TRANSIT-RELATED CAPITAL IMPROVEMENTS, INCLUDING SOUND WALLS
ALONG INTERSTATE HIGHWAYS.
(b) (I) THIS SUBSECTION (2) IS REPEALED:
(A) EFFECTIVE JANUARY 1, 2019, IF A BALLOT ISSUE INITIATED BY
PRIVATE CITIZENS THAT AUTHORIZES THE STATE TO ISSUE
TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2018 GENERAL ELECTION AND A MAJORITY OF THE
ELECTORS VOTING ON THE BALLOT ISSUE VOTE "YES/FOR".
(B) EFFECTIVE JANUARY 1, 2020, IF A BALLOT ISSUE THAT
AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2019
STATEWIDE ELECTION PURSUANT TO SECTION 43-4-705 (13)(b) AND A
MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
"NO/AGAINST".
(II) THIS SUBSECTION (2)(b) IS REPEALED, EFFECTIVE JANUARY 1,
2020, IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
BALLOT ISSUE VOTE "YES/FOR".
SECTION 11. Effective date - applicability. (1) Except as
otherwise provided in subsection (2) of this section, this act takes effect
upon passage.
(2) Section 4 of this act takes effect only if either:
(a) A ballot issue initiated by private citizens that authorizes the
state to issue transportation revenue anticipation notes is submitted to the
registered electors of the state for their approval or rejection at the
November 2018 general election and a majority of the electors voting on
the ballot issue vote "Yes/For", and, in such case, section 4 of this act
takes effect on the date of the official declaration of the vote thereon by
the governor; or
(b) A ballot issue that authorizes the state to issue transportation
revenue anticipation notes is submitted to the registered electors of the
state for their approval or rejection at the November 2019 statewide
election pursuant to section 43-4-705 (13)(b), Colorado Revised Statutes,
enacted in section 9 of this act, and a majority of the electors voting on
the ballot issue vote "Yes/For", and, in such case, section 4 of this act
takes effect on the date of the official declaration of the vote thereon by
the governor.
SECTION 12. Safety clause. The general assembly hereby finds,
determines, and declares that this act is necessary for the immediate
preservation of the public peace, health, and safety.".

Page 1, line 101, strike "FUNDING, AND, IN".

Page 1, strike lines 102 through 113.

Page 2, strike lines 101 through 105 and substitute "FUNDING.".


Less than a majority of all members elected to the Senate having voted in the affirmative,
the amendment to the report of the Committee of the Whole was lost on the following roll
call vote:

YES 16 NO 18 EXCUSED 1 ABSENT 0
Aguilar E Garcia N Kerr N Scott Y
Baumgardner Y Gardner Y Lambert Y Smallwood Y
Cooke Y Guzman N Lundberg Y Sonnenberg Y
Coram N Hill N Marble Y Tate Y
Court N Holbert Y Martinez Humenik Y Todd N
Crowder Y Jahn N Merrifield N Williams A. N
Donovan N Jones N Moreno N Zenzinger N
Fenberg N Kagan N Neville T. Y President Y
Fields N Kefalas N Priola Y

Senate Journal, March 28
SB18-001 by Senator(s) Baumgardner and Cooke, Coram, Crowder, Gardner, Grantham, Hill,
Holbert, Lambert, Lundberg, Marble, Neville T., Scott, Sonnenberg, Tate; also
Representative(s) Buck, Leonard--Concerning transportation infrastructure
funding.

A majority of those elected to the Senate having voted in the affirmative, Senator Cooke
was given permission to offer a third reading amendment.

Third Reading Amendment No. 1(L.053), by Senator Cooke.

Amend engrossed bill, page 3, line 25, strike "revenues" and substitute
"revenue".

Page 4, line 20, after "2018-19" insert "state".

Page 6, strike line 8 and substitute "for maintenance of the state highway
system; and".

Page 7, strike lines 14 and 15 and substitute:
"(b) ON JUNE 30, 2020, AND ON EACH SUCCEEDING JUNE 30".

Page 7, strike lines 20 through 27.

Page 8, strike lines 1 through 7.

Page 11, line 24, strike "PROJECTS AS OTHERWISE PROVIDED IN".

Page 11, strike lines 25 through 27.

Page 12, strike lines 1 through 16 and substitute "PROJECTS.".

Page 17, line 15, strike "GENERAL" and substitute "STATEWIDE".

Page 19, line 9, strike "2018" and substitute "2019".

Page 22, line 16, strike "9" and substitute "10".

Page 1, line 101, strike "FUNDING." and substitute "FUNDING, AND, IN
CONNECTION THEREWITH, REQUIRING SPECIFIED AMOUNTS OF
GENERAL FUND MONEY TO BE TRANSFERRED TO THE STATE HIGHWAY
FUND DURING STATE FISCAL YEAR 2018-19 FOR THE PURPOSE OF
FUNDING NEW HIGHWAY CONSTRUCTION PROJECTS AND ANNUALLY
DURING STATE FISCAL YEARS 2019-20 THROUGH 2038-39 FOR THE
PURPOSES OF MAINTAINING THE STATE HIGHWAY SYSTEM AND
REPAYING ANY TRANSPORTATION REVENUE ANTICIPATION NOTES
THAT MAY BE ISSUED AS SPECIFIED IN THE BILL AND, IF NO
CITIZEN-INITIATED BALLOT MEASURE THAT REQUIRES THE STATE TO
ISSUE TRANSPORTATION REVENUE ANTICIPATION NOTES IS APPROVED
BY THE VOTERS OF THE STATE AT THE NOVEMBER 2018 GENERAL
ELECTION, REQUIRING THE SECRETARY OF STATE TO SUBMIT A
BALLOT QUESTION TO THE VOTERS OF THE STATE AT THE NOVEMBER
2019 STATEWIDE ELECTION, WHICH, IF APPROVED, WOULD REQUIRE
THE STATE, WITH NO INCREASE IN ANY TAXES OR FEES, TO ISSUE
ADDITIONAL TRANSPORTATION REVENUE ANTICIPATION NOTES FOR
THE PURPOSE OF ADDRESSING CRITICAL PRIORITY TRANSPORTATION
NEEDS IN THE STATE BY FUNDING TRANSPORTATION PROJECTS;
WOULD EXCLUDE NOTE PROCEEDS AND INVESTMENT EARNINGS ON
NOTE PROCEEDS FROM STATE FISCAL YEAR SPENDING LIMITS; AND
WOULD REDUCE THE AMOUNT OF LEASE-PURCHASE AGREEMENTS
REQUIRED BY CURRENT LAW TO BE ISSUED FOR THE PURPOSE OF
FUNDING TRANSPORTATION PROJECTS.".


The amendment was passed on the following roll call vote:

YES 35 NO 0 EXCUSED 0 ABSENT 0
Aguilar Y Garcia Y Kerr Y Scott Y
Baumgardner Y Gardner Y Lambert Y Smallwood Y
Cooke Y Guzman Y Lundberg Y Sonnenberg Y
Coram Y Hill Y Marble Y Tate Y
Court Y Holbert Y Martinez Humenik Y Todd Y
Crowder Y Jahn Y Merrifield Y Williams A. Y
Donovan Y Jones Y Moreno Y Zenzinger Y
Fenberg Y Kagan Y Neville T. Y President Y
Fields Y Kefalas Y Priola Y

The question being "Shall the bill, as amended, pass?", the roll call was taken with the
following result:

YES 35 NO 0 EXCUSED 0 ABSENT 0
Aguilar Y Garcia Y Kerr Y Scott Y
Baumgardner Y Gardner Y Lambert Y Smallwood Y
Cooke Y Guzman Y Lundberg Y Sonnenberg Y
Coram Y Hill Y Marble Y Tate Y
Court Y Holbert Y Martinez Humenik Y Todd Y
Crowder Y Jahn Y Merrifield Y Williams A. Y
Donovan Y Jones Y Moreno Y Zenzinger Y
Fenberg Y Kagan Y Neville T. Y President Y
Fields Y Kefalas Y Priola Y

House Journal, May 3
38 SB18-001 be amended as follows, and as so amended, be referred to
39 the Committee on Finance with favorable
40 recommendation:
41
42 Amend reengrossed bill, strike everything below the enacting clause and
43 substitute:
44 "SECTION 1. Legislative declaration. (1) The general
45 assembly hereby finds and declares that:
46 (a) Colorado's population is expected to increase to over six
47 million nine hundred thousand by 2030;
48 (b) Population growth has significantly increased traffic and
49 congestion and will continue to do so in the future, causing longer travel
50 times, increasing air pollution, decreasing Coloradans' access to
51 recreational opportunities, and accelerating the deterioration of
52 Colorado's transportation infrastructure;
53 (c) The growth of the economy of the state has prompted new and
54 ever-increasing uses of public highways, roads, and other transportation
55 infrastructure, and the existing transportation infrastructure of the state
56 cannot accommodate such greatly increased uses;
1 (d) In order to preserve and improve Colorado's economic
2 prosperity and quality of life, it is necessary to develop and maintain a
3 modern, efficient, and cost-effective multimodal transportation system
4 that can move people, goods, and information without undue delays or
5 environmental consequences;
6 (e) One of the major concerns of the citizens of the state is the
7 ability of the state and local governments to address the long-term
8 transportation infrastructure needs of the state that are critical to the
9 continued growth of the state's economy and the maintenance of citizens'
10 quality of life;
11 (f) The state has significantly decreased its contribution of general
12 state revenue available in recent years to fund critical priority
13 transportation infrastructure needs, and current transportation funding
14 mechanisms do not provide adequate revenue to keep pace with the
15 increasing demands on transportation infrastructure statewide;
16 (g) Needed transportation projects remain unfunded or
17 underfunded while construction costs escalate and congestion worsens;
18 (h) In 1999, the general assembly and the voters of the state
19 approved Referendum A, which authorized the state to issue
20 transportation revenue anticipation notes to accelerate the funding and
21 completion of twenty-eight strategic transportation projects in significant
22 corridors, including the T-REX project, the highly successful expansion
23 and congestion mitigation project for the Interstate 25 corridor in the
24 Denver metropolitan area;
25 (i) The success of the 1999 transportation revenue anticipation
26 notes program shows that leveraging existing revenue is a prudent and
27 cost-effective means to accelerate and deliver transportation projects
28 throughout the state;
29 (j) In 2017, the general assembly enacted Senate Bill 17-267,
30 which:
31 (I) Requires the state to enter into lease-purchase agreements for
32 state facilities in the amount of three hundred eighty million dollars
33 during the 2018-19 state fiscal year and five hundred million dollars
34 during each of the 2019-20, 2020-21, and 2021-22 state fiscal years in
35 order to accelerate the funding of high-priority transportation projects
36 throughout the state; and
37 (II) Significantly increases the amount of money that the state may
38 retain and spend under its fiscal year spending limit;
39 (k) While the lease-purchase agreements required by Senate Bill
40 17-267 will provide some increased funding for transportation, such
41 agreements leverage state capital assets, rather than state revenue, and, to
42 the extent currently authorized, provide less total funding than
43 transportation revenue anticipation notes can;
44 (l) If the state enters into all of the lease-purchase agreements
45 required by Senate Bill 17-267, the state will be required to spend
46 approximately one hundred fifty million dollars per year, including one
47 hundred million dollars per year from the state general fund and fifty
48 million dollars per year from money under the control of the
49 transportation commission, to repay the lease-purchase agreements;
50 (m) It is necessary, in order to avoid delaying critical
51 transportation projects that are expected to be funded in part with
19 52 proceeds of lease-purchase agreements to be issued during the 2018-
53 state fiscal year, for the state to enter into lease-purchase agreements as
54 required by Senate Bill 17-267 during the 2018-19 state fiscal year;
55 (n) It is also necessary, appropriate, and in the best interest of the
56 state to:
1 (I) Repeal the requirement that the state enter into additional
22 2 lease-purchase agreements during the 2019-20, 2020-21, and 2021-
3 state fiscal years;
4 (II) If required statewide voter approval can be obtained for a
5 ballot issue submitted by the state that authorizes the state to issue
6 transportation revenue anticipation notes as specified in this act, use
7 transportation revenue anticipation notes instead of lease-purchase
8 agreements to finance transportation projects because doing so will
9 generate a larger amount of up-front revenue for the projects and will
10 enable the state to design and construct the projects more efficiently; and
11 (III) Use the money that will no longer be needed to repay
12 lease-purchase agreements, as well as a portion of the additional general
13 fund money that the state may retain and spend under its fiscal year
14 spending limit due to the enactment of Senate Bill 17-267, to repay the
15 transportation revenue anticipation notes; and
16 (o) The issuance of new transportation revenue anticipation notes
17 in lieu of the execution of lease-purchase agreements will accelerate the
18 funding and efficient completion of specific and designated projects,
19 including multimodal transportation projects, throughout the state that the
20 Colorado department of transportation and the transportation planning
21 regions of the state have determined to be of highest priority and
22 economically significant to the state and the regions in which they will be
23 built.
24 (2) The general assembly further finds and declares that:
25 (a) This act does not increase taxes or fees or refer a ballot issue
26 to the voters of the state seeking their approval to raise taxes or fees;
27 (b) Private citizens have proposed ballot measures by initiative,
2018 28 one or more of which may be placed on the ballot for the November
29 general election, which, if approved by the voters of the state, will
30 authorize the state to issue transportation revenue anticipation notes to
31 provide additional funding for transportation infrastructure projects; and
32 (c) If such a citizen-initiated ballot measure is not placed on the
33 ballot for the November 2018 general election or if the voters reject every
34 such ballot measure that is placed on that ballot, it is necessary and
35 appropriate for the state to refer a ballot issue that authorizes the state to
36 issue transportation revenue anticipation notes to the voters of the state
37 at the November 2019 statewide election as specified in this act.
38 SECTION 2. In Colorado Revised Statutes, 24-75-219, add
39 (1)(g), (1)(h), and (5) as follows:
40 24-75-219. Transfers - transportation - capital construction -
41 definitions - repeal. (1) As used in this section, unless the context
42 otherwise requires:
43 (g) "MULTIMODAL TRANSPORTATION OPTIONS FUND" MEANS THE
44 MULTIMODAL TRANSPORTATION OPTIONS FUND CREATED IN SECTION
45 43-4-1103 (1).
46 (h) "STATE HIGHWAY FUND" MEANS THE STATE HIGHWAY FUND
47 CREATED IN SECTION 43-1-219.
48 (5) (a) ON JULY 1, 2018, THE STATE TREASURER SHALL TRANSFER
49 A TOTAL AMOUNT OF FOUR HUNDRED NINETY-FIVE MILLION DOLLARS
50 FROM THE GENERAL FUND FOR THE PURPOSES OF FUNDING STATE AND
51 LOCAL TRANSPORTATION NEEDS AS FOLLOWS:
52 (I) TWO HUNDRED NINETY-SEVEN MILLION DOLLARS TO THE STATE
53 HIGHWAY FUND;
54 (II) ONE HUNDRED TWENTY-THREE MILLION SEVEN HUNDRED
55 FIFTY THOUSAND DOLLARS TO THE HIGHWAY USERS TAX FUND FOR
56 ALLOCATION TO COUNTIES AND MUNICIPALITIES AS SPECIFIED IN SECTION
1 43-4-205 (6.4); AND
2 (III) SEVENTY-FOUR MILLION TWO HUNDRED FIFTY THOUSAND
3 DOLLARS TO THE MULTIMODAL TRANSPORTATION OPTIONS FUND.
4 (b) ON JULY 1, 2019, THE STATE TREASURER SHALL TRANSFER A
5 TOTAL AMOUNT OF ONE HUNDRED FIFTY MILLION DOLLARS FROM THE
6 GENERAL FUND FOR THE PURPOSES OF FUNDING STATE AND LOCAL
7 TRANSPORTATION NEEDS AS FOLLOWS:
8 (I) NINETY MILLION DOLLARS TO THE STATE HIGHWAY FUND;
9 (II) THIRTY-SEVEN MILLION FIVE HUNDRED THOUSAND DOLLARS
10 TO THE HIGHWAY USERS TAX FUND FOR ALLOCATION TO COUNTIES AND
11 MUNICIPALITIES AS SPECIFIED IN SECTION 43-4-205 (6.4); AND
12 (III) TWENTY-TWO MILLION FIVE HUNDRED THOUSAND DOLLARS
13 TO THE MULTIMODAL TRANSPORTATION OPTIONS FUND.
14 (c) (I) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (5)(c)(II)
30 15 OF THIS SECTION, ON JUNE 30, 2020, AND ON EACH SUCCEEDING JUNE
16 THROUGH JUNE 30, 2039, THE STATE TREASURER SHALL TRANSFER ONE
17 HUNDRED TWELVE MILLION SIX HUNDRED THOUSAND DOLLARS FROM THE
18 GENERAL FUND TO THE STATE HIGHWAY FUND FOR THE PURPOSE OF
19 MAKING PAYMENTS ON ANY TRANSPORTATION REVENUE ANTICIPATION
20 NOTES ISSUED AS AUTHORIZED BY A BALLOT ISSUE SUBMITTED TO AND
2019 21 APPROVED BY THE REGISTERED ELECTORS OF THE STATE AT THE
22 STATEWIDE ELECTION PURSUANT TO SECTION 43-4-705 (13)(b).
23 (II) IF THE GENERAL ASSEMBLY APPROPRIATES MONEY FROM THE
24 TRANSPORTATION REVENUE ANTICIPATION NOTES RESERVE ACCOUNT OF
25 THE STATE HIGHWAY FUND PURSUANT TO SECTION 43-4-714 (2) DURING
26 ANY STATE FISCAL YEAR, THE AMOUNT OF THE TRANSFER REQUIRED BY
27 SUBSECTION (5)(c)(I) OF THIS SECTION IS REDUCED BY AN AMOUNT EQUAL
28 TO THE AMOUNT OF THE APPROPRIATION FROM THE ACCOUNT.
29 (III) THIS SUBSECTION (5)(c) IS REPEALED:
30 (A) EFFECTIVE JANUARY 1, 2019, IF A BALLOT ISSUE INITIATED BY
31 PRIVATE CITIZENS THAT AUTHORIZES THE STATE TO ISSUE
32 TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
33 REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
34 AT THE NOVEMBER 2018 GENERAL ELECTION AND A MAJORITY OF THE
35 ELECTORS VOTING ON THE BALLOT ISSUE VOTE "YES/FOR";
36 (B) EFFECTIVE JANUARY 1, 2020, IF A BALLOT ISSUE THAT
37 AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
38 ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
2019 39 STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER
40 STATEWIDE ELECTION PURSUANT TO SECTION 43-4-705 (13)(b) AND A
41 MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
42 "NO/AGAINST".
43 (III) THIS SUBSECTION (5)(c)(III) AND SUBSECTION (5)(c)(II) OF
44 THIS SECTION ARE REPEALED, EFFECTIVE JANUARY 1, 2020, IF A BALLOT
45 ISSUE THAT AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
46 ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
2019 47 STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER
48 STATEWIDE ELECTION PURSUANT TO SECTION 43-4-705 (13)(b) AND A
49 MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
50 "YES/FOR".
51 SECTION 3. In Colorado Revised Statutes, 24-82-1303, amend
52 (2)(a), (2)(b), and (2)(d)(II); and repeal (1) as follows:
53 24-82-1303. Lease-purchase agreements for capital
54 construction and transportation projects. (1) On or before December
55 31, 2017, the state architect, the director of the office of state planning
56 and budgeting or his or her designee, and the state institutions of higher
1 education shall identify and prepare a collaborative list of eligible state
2 facilities that can be collateralized as part of the lease-purchase
3 agreements for capital construction and transportation projects authorized
4 in this part 13. The total current replacement value of the identified
5 buildings must equal at least two billion dollars.
102 6 (2) (a) Notwithstanding the provisions of sections 24-82-
7 (1)(b) and 24-82-801, and pursuant to section 24-36-121, no sooner than
8 July 1, 2018, the state, acting by and through the state treasurer, shall
9 execute lease-purchase agreements, each for no more than twenty years
10 of annual payments, for the projects described in subsection (4) of this
11 section. The state shall execute the lease-purchase agreements only in
12 accordance with the following schedule: DURING THE 2018-19 STATE
13 FISCAL YEAR IN AN AMOUNT UP TO FIVE HUNDRED MILLION DOLLARS.
14 (I) During the 2018-19 state fiscal year, the state shall execute
15 lease-purchase agreements in an amount up to five hundred million
16 dollars;
17 (II) During the 2019-20 state fiscal year, the state shall execute
18 lease-purchase agreements in an amount up to five hundred million
19 dollars;
20 (III) During the 2020-21 state fiscal year, the state shall execute
21 lease-purchase agreements in an amount up to five hundred million
22 dollars; and
23 (IV) During the 2021-22 fiscal year, the state shall execute
24 lease-purchase agreements in an amount up to five hundred million
25 dollars.
26 (b) The anticipated annual state-funded payments for the principal
27 and interest components of the amount payable under all lease-purchase
28 agreements entered into pursuant to subsection (2)(a) of this section shall
29 not exceed one hundred fifty THIRTY-SEVEN million FIVE HUNDRED
30 THOUSAND dollars.
31 (d) Any lease-purchase agreement executed as required by
32 subsection (2)(a) of this section shall provide that all of the obligations of
33 the state under the agreement are subject to the action of the general
34 assembly in annually making money available for all payments
35 thereunder. Payments under any lease-purchase agreement must be made,
36 subject to annual allocation pursuant to section 43-1-113 by the
37 transportation commission created in section 43-1-106 (1) or subject to
38 annual appropriation by the general assembly, as applicable, from the
39 following sources of money:
40 (II) Next, fifty TEN million ONE HUNDRED THOUSAND dollars
41 annually, or any lesser amount that is sufficient to make each full payment
42 due, shall be paid from any legally available money under the control of
43 the transportation commission solely for the purpose of allowing the
44 construction, supervision, and maintenance of state highways to be
45 funded with the proceeds of lease-purchase agreements as specified in
46 subsection (4)(b) of this section and section 43-4-206 (1)(b)(V); and
47 SECTION 4. In Colorado Revised Statutes, 43-4-205, add (6.4)
48 as follows:
49 43-4-205. Allocation of fund. (6.4) MONEY TRANSFERRED FROM
50 THE GENERAL FUND TO THE HIGHWAY USERS TAX FUND PURSUANT TO
51 SECTION 24-75-219 (5)(a)(II) AND (5)(b)(II) AND ANY NET PROCEEDS OF
52 TRANSPORTATION REVENUE ANTICIPATION NOTES ISSUED AS AUTHORIZED
53 BY A BALLOT ISSUE SUBMITTED TO AND APPROVED BY THE REGISTERED
54 ELECTORS OF THE STATE AT THE 2019 STATEWIDE ELECTION PURSUANT TO
55 SECTION 43-4-705 (13)(b) THAT ARE CREDITED TO THE HIGHWAY USERS
56 TAX FUND PURSUANT TO SECTION 43-4-714 (1)(b) SHALL BE ALLOCATED
1 AND EXPENDED AS FOLLOWS:
2 (a) FIFTY PERCENT OF THE MONEY SHALL BE PAID TO THE COUNTY
3 TREASURERS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL
4 APPROPRIATION BY THE GENERAL ASSEMBLY, AND SHALL BE ALLOCATED
5 AND EXPENDED AS PROVIDED IN SECTION 43-4-207; AND
6 (b) FIFTY PERCENT OF THE MONEY SHALL BE PAID TO THE CITIES
7 AND INCORPORATED TOWNS, SUBJECT TO ANNUAL APPROPRIATION BY THE
8 GENERAL ASSEMBLY, AND SHALL BE ALLOCATED AND EXPENDED AS
9 PROVIDED IN SECTIONS 43-4-208 (2) AND (6)(a).
10 SECTION 5. In Colorado Revised Statutes, 43-4-206, amend (1)
11 introductory portion, (2)(b) introductory portion, (2)(b)(III), and
12 (2)(b)(IV) as follows:
13 43-4-206. State allocation. (1) Except as otherwise provided in
14 subsections (1)(a)(V), SUBSECTIONS (1)(b)(V), (2), and (3) of this section,
15 after paying the costs of the Colorado state patrol and any other costs of
16 the department, exclusive of highway construction, highway
17 improvements, or highway maintenance, that are appropriated by the
18 general assembly, money in the highway users tax fund shall be paid to
19 the state highway fund and expended for the following purposes:
20 (2) (b) Beginning in 1998, the department of transportation shall
21 report annually to the transportation committee of the senate and the
22 transportation and energy committee of the house of representatives
23 concerning the revenue expended by the department pursuant to
24 subsection (2)(a) of this section and, beginning in 2018, any 2019, ANY
25 STATE GENERAL FUND MONEY THAT IS CREDITED TO THE STATE HIGHWAY
26 FUND PURSUANT TO SECTION 24-75-219 (5), ANY NET proceeds of
1303 27 lease-purchase agreements executed as required by section 24-82-
28 (2)(a) that are credited to the state highway fund pursuant to section
29 24-82-1303 (4)(b) and expended by the department pursuant to subsection
30 (1)(b)(V) of this section, AND ANY NET PROCEEDS OF TRANSPORTATION
31 REVENUE ANTICIPATION NOTES ISSUED AS AUTHORIZED BY A BALLOT ISSUE
32 SUBMITTED TO AND APPROVED BY THE REGISTERED ELECTORS OF THE
705 33 STATE AT THE 2019 STATEWIDE ELECTION PURSUANT TO SECTION 43-4-
34 (13)(b) THAT ARE CREDITED TO THE STATE HIGHWAY FUND PURSUANT TO
35 SECTION 43-4-714 (1)(a). The department shall present the report at the
36 joint meeting required under section 43-1-113 (9)(a), and the report shall
37 describe for each fiscal year, if applicable:
38 (III) The projected amounts of revenue and net proceeds that the
39 department expects to receive under this subsection (2), and subsection
1303 40 (1)(b)(V) of this section SECTION 24-75-219 (5), SECTION 24-82-
41 (4)(b), AND SECTION 43-4-714 (1)(a) during the fiscal year;
42 (IV) The amount of revenue and net proceeds that the department
43 has already received under this subsection (2), and subsection (1)(b)(V)
44 of this section SECTION 24-75-219 (5), SECTION 24-82-1303 (4)(b), AND
45 SECTION 43-4-714 (1)(a) during the fiscal year; and
46 SECTION 6. In Colorado Revised Statutes, 43-4-207, amend (1),
47 (2) introductory portion, and (2)(b) introductory portion as follows:
48 43-4-207. County allocation. (1) After paying the costs of the
49 Colorado state patrol and such ANY other costs of the department,
50 exclusive of highway construction, highway improvements, or highway
51 maintenance, as THAT are appropriated by the general assembly,
52 twenty-six percent of the balance of the highway users tax fund THE
53 MONEY, INCLUDING MONEY TRANSFERRED FROM THE GENERAL FUND TO
219 54 THE HIGHWAY USERS TAX FUND PURSUANT TO SECTION 24-75-
55 (5)(a)(II) AND (5)(b)(II) AND ANY NET PROCEEDS OF TRANSPORTATION
56 REVENUE ANTICIPATION NOTES ISSUED AS AUTHORIZED BY A BALLOT ISSUE
1 SUBMITTED TO AND APPROVED BY THE REGISTERED ELECTORS OF THE
705 2 STATE AT THE 2019 STATEWIDE ELECTION PURSUANT TO SECTION 43-4-
3 (13)(b) THAT ARE CREDITED TO THE HIGHWAY USERS TAX FUND PURSUANT
4 TO SECTION 43-4-714 (1)(b), THAT SECTION 43-4-205 REQUIRES TO BE PAID
5 FROM THE HIGHWAY USERS TAX FUND TO THE COUNTY TREASURERS OF
6 THE RESPECTIVE COUNTIES shall be paid to the county treasurers of the
7 respective counties, subject to annual appropriation by the general
8 assembly, and shall be allocated and expended as provided in this section.
9 The moneys thus MONEY received shall be IS allocated to the counties as
10 provided by law and shall be expended by the counties only on the
11 construction, engineering, reconstruction, maintenance, repair,
12 equipment, improvement, and administration of the county highway
13 systems and any other public highways, including any state highways,
14 together with acquisition of rights-of-way and access rights for the same,
15 for the planning, designing, engineering, acquisition, installation,
16 construction, repair, reconstruction, maintenance, operation, or
17 administration of transit-related projects, including, but not limited to,
18 designated bicycle or pedestrian lanes of highway and infrastructure
19 needed to integrate different transportation modes within a multimodal
20 transportation system, and for no other purpose; except that a county may
21 expend no more than fifteen percent of the total amount expended under
22 this subsection (1) for transit-related operational purposes and except that
23 moneys MONEY received pursuant to section 43-4-205 (6.3) shall be
24 expended by the counties only for road safety projects, as defined in
25 section 43-4-803 (21). The amount to be expended for administrative
26 purposes shall not exceed five percent of each county's share of the funds
27 available.
28 (2) For the fiscal year commencing July 1, 1989, and each fiscal
29 year thereafter, for the purpose of allocating moneys MONEY in the
30 highway users tax fund to the various counties throughout the state, the
31 following method is hereby adopted:
32 (b) All moneys MONEY credited to the fund in excess of eighty-six
33 million seven hundred thousand dollars shall be AND ALL MONEY
34 TRANSFERRED TO THE FUND PURSUANT TO SECTION 24-75-219 (5)(a)(II)
35 AND (5)(b)(II) THAT IS REQUIRED BY SECTION 43-4-205 (6.4)(a) AND
36 SUBSECTION (1) OF THIS SECTION TO BE PAID TO THE COUNTY TREASURERS
37 OF THE RESPECTIVE COUNTIES IS, AND ANY NET PROCEEDS OF
38 TRANSPORTATION REVENUE ANTICIPATION NOTES ISSUED AS AUTHORIZED
39 BY A BALLOT ISSUE SUBMITTED TO AND APPROVED BY THE REGISTERED
40 ELECTORS OF THE STATE AT THE 2019 STATEWIDE ELECTION PURSUANT TO
41 SECTION 43-4-705 (13)(b) THAT ARE CREDITED TO THE HIGHWAY USERS
42 TAX FUND PURSUANT TO SECTION 43-4-714 (1)(b) AND THAT ARE
43 REQUIRED BY SECTION 43-4-205 (6.4)(a) AND SUBSECTION (1) OF THIS
44 SECTION TO BE PAID TO THE COUNTY TREASURERS OF THE RESPECTIVE
45 COUNTIES ARE, allocated to the counties in the following manner:
46 SECTION 7. In Colorado Revised Statutes, 43-4-208, amend (1),
47 (2) introductory portion, (2)(a), and (6)(a) as follows:
48 43-4-208. Municipal allocation. (1) After paying the costs of the
49 Colorado state patrol and such ANY other costs of the department,
50 exclusive of highway construction, highway improvements, or highway
51 maintenance, as THAT are appropriated by the general assembly, and
52 making allocation as provided by sections 43-4-206 and 43-4-207, the
53 remaining nine percent of the highway users tax fund THE MONEY,
54 INCLUDING MONEY TRANSFERRED FROM THE GENERAL FUND TO THE
55 HIGHWAY USERS TAX FUND PURSUANT TO SECTION 24-75-219 (5)(a)(II)
56 AND (5)(b)(II) AND ANY NET PROCEEDS OF TRANSPORTATION REVENUE
1 ANTICIPATION NOTES ISSUED AS AUTHORIZED BY A BALLOT ISSUE
2 SUBMITTED TO AND APPROVED BY THE REGISTERED ELECTORS OF THE
705 3 STATE AT THE 2019 STATEWIDE ELECTION PURSUANT TO SECTION 43-4-
4 (13)(b) THAT ARE CREDITED TO THE HIGHWAY USERS TAX FUND PURSUANT
5 TO SECTION 43-4-714 (1)(b), that section 43-4-205 requires to be paid
6 from the highway users tax fund to cities and incorporated towns shall be
7 paid to the cities and incorporated towns within the limits of the
8 respective counties, subject to annual appropriation by the general
9 assembly, and shall be allocated and expended as provided in this section.
10 Each city treasurer shall account for the moneys thus MONEY received as
11 provided in this part 2. Moneys MONEY so allocated shall be expended by
12 the cities and incorporated towns for the construction, engineering,
13 reconstruction, maintenance, repair, equipment, improvement, and
14 administration of the system of streets of such city or incorporated town
15 or of any public highways located within such city or incorporated town,
16 including any state highways, together with the acquisition of
17 rights-of-way and access rights for the same, and for the planning,
18 designing, engineering, acquisition, installation, construction, repair,
19 reconstruction, maintenance, operation, or administration of
20 transit-related projects, including, but not limited to, designated bicycle
21 or pedestrian lanes of highway and infrastructure needed to integrate
22 different transportation modes within a multimodal transportation system,
23 and for no other purpose; except that a city or an incorporated town may
24 expend no more than fifteen percent of the total amount expended under
25 this subsection (1) for transit-related operational purposes and except that
26 moneys MONEY paid to the cities and incorporated towns pursuant to
27 section 43-4-205 (6.3) shall be expended by the cities and incorporated
28 towns only for road safety projects, as defined in section 43-4-803 (21).
29 The amount to be expended for administrative purposes shall not exceed
30 five percent of each city's share of the funds available.
31 (2) For the purpose of allocating moneys MONEY in the highway
32 users tax fund to the various cities and incorporated towns throughout the
33 state, the following method is adopted:
34 (a) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (6) OF THIS
35 SECTION, eighty percent shall be allocated to the cities and incorporated
36 towns in proportion to the adjusted urban motor vehicle registration in
37 each city and incorporated town. The term "urban motor vehicle
38 registration" includes all passenger, truck, truck-tractor, and motorcycle
39 registrations. The number of registrations used in computing the
40 percentage shall be those certified to the state treasurer by the department
41 of revenue as constituting the urban motor vehicle registration for the last
42 preceding year. The adjusted registration shall be computed by applying
43 a factor to the actual number of such registrations to reflect the increased
44 standards and costs of construction resulting from the concentration of
45 vehicles in cities and incorporated places. For this purpose the following
46 table of actual registration numbers and factors shall be employed:
47 Actual registrations Factor
48 1 -- 500 1.
1 49 501 -- 1,250 1.
2 50 1,251 -- 2,500 1.
3 51 2,501 -- 5,000 1.
4 52 5,001 -- 12,500 1.
5 53 12,501 -- 25,000 1.
6 54 25,001 -- 50,000 1.
7 55 50,001 -- 85,000 1.
8 56 85,001 -- 130,000 1.
9 1 130,001 -- 185,00 1.
2 185,001 and over 2.
3 (6) (a) In addition to the provisions of subsection (2)(a) of this
4 section, on or after July 1, 1979, eighty percent of all additional funds
5 MONEY becoming available to cities and incorporated towns from the
6 highway users tax fund pursuant to sections 24-75-215 C.R.S., and
7 43-4-205 (6)(b)(III) shall be AND, ON AND AFTER JULY 1, 2018, EIGHTY
8 PERCENT OF THE GENERAL FUND MONEY TRANSFERRED FROM THE
9 GENERAL FUND TO THE HIGHWAY USERS TAX FUND PURSUANT TO SECTION
10 24-75-219 (5)(a)(II) AND (5)(b)(II) THAT IS REQUIRED BY SECTION
11 43-4-205 (6.4)(b) AND SUBSECTION (1) OF THIS SECTION TO BE ALLOCATED
12 TO THE CITIES AND INCORPORATED TOWNS IS, AND ANY NET PROCEEDS OF
13 TRANSPORTATION REVENUE ANTICIPATION NOTES ISSUED AS AUTHORIZED
14 BY A BALLOT ISSUE SUBMITTED TO AND APPROVED BY THE REGISTERED
15 ELECTORS OF THE STATE AT THE 2019 STATEWIDE ELECTION PURSUANT TO
16 SECTION 43-4-705 (13)(b) THAT ARE CREDITED TO THE HIGHWAY USERS
17 TAX FUND PURSUANT TO SECTION 43-4-714 (1)(b) AND THAT ARE
18 REQUIRED BY SECTION 43-4-205 (6.4)(a) AND SUBSECTION (1) OF THIS
19 SECTION TO BE PAID TO THE COUNTY TREASURERS OF THE RESPECTIVE
20 COUNTIES ARE, allocated to the cities and incorporated towns in
21 proportion to the adjusted urban motor vehicle registration in each city
22 and incorporated town. The term "urban motor vehicle registration", as
23 used in this section, includes all passenger, truck, truck-tractor, and
24 motorcycle registrations. The number of registrations used in computing
25 the percentage shall be those certified to the state treasurer by the
26 department of revenue as constituting the urban motor vehicle registration
27 for the last preceding year. The adjusted registration shall be computed
28 by applying a factor to the actual number of such registrations to reflect
29 the increased standards and costs of construction resulting from the
30 concentration of vehicles in cities and incorporated places. For this
31 purpose the following table of actual registration numbers and factors
32 shall be employed:
33 Actual registrations Factor
34 1 -- 500 1.
1 35 501 -- 1,250 1.
2 36 1,251 -- 2,500 1.
3 37 2,501 -- 5,000 1.
4 38 5,001 -- 12,500 1.
5 39 12,501 -- 25,000 1.
6 40 25,001 -- 50,000 1.
7 41 50,001 -- 85,000 1.
8 42 85,001-- 130,000 1.
9 43 125,001 -- 165,000 1.
44 165,001 -- 205,000 2.
1 45 205,001 -- 245,000 2.
2 46 245,001 -- 285,000 2.
3 47 285,001 -- 325,000 2.
4 48 325,001 -- 365,000 2.
5 49 365,001 -- 405,000 2.
6 50 405,001 -- 445,000 2.
7 51 445,001 -- 485,000 2.
8 52 485,001 -- 525,000 2.
9 53 525,001 -- 565,000 2.
54 565,001 -- 605,000 3.0.
55 SECTION 8. In Colorado Revised Statutes, 43-4-702, repeal (7);
56 and add (9) as follows:
1 43-4-702. Definitions. As used in this part 7, unless the context
2 otherwise requires:
3 (7) "Revenue anticipation notes" or "notes" means revenue
4 anticipation notes authorized by and issued in accordance with this part
5 7.
6 (9) "TRANSPORTATION REVENUE ANTICIPATION NOTES", "REVENUE
7 ANTICIPATION NOTES", OR "NOTES" MEANS REVENUE ANTICIPATION NOTES
8 AUTHORIZED BY AND ISSUED IN ACCORDANCE WITH THIS PART 7.
9 SECTION 9. In Colorado Revised Statutes, 43-4-705, amend
10 (2)(a)(II) and (13); and add (2)(a)(II.5) as follows:
11 43-4-705. Revenue anticipation notes - repeal. (2) (a) Subject
12 to the provisions of this subsection (2), the principal of and interest on
13 revenue anticipation notes and any costs associated with the issuance and
14 administration of such notes shall be payable solely from:
15 (II) Any proceeds of such notes and any earnings from the
16 investment of such note proceeds pledged for such purpose; and
17 (II.5) MONEY TRANSFERRED FROM THE GENERAL FUND TO THE
18 STATE HIGHWAY FUND PURSUANT TO SECTION 24-75-219 (5)(b); AND
19 (13) (a) Notwithstanding any other provision of this part
20 7 to the contrary, the executive director shall have the authority to issue
21 revenue anticipation notes pursuant to this part 7 only if voters statewide
22 approve the ballot question submitted at the November 1999 statewide
23 election pursuant to section 43-4-703 (1) and only then to the extent
24 allowed under the maximum amounts of debt and repayment cost so
25 approved.
26 (b) (I) SUBJECT TO VOTER APPROVAL OF THE BALLOT ISSUE
27 SUBMITTED AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO
28 SUBSECTION (13)(b)(III) OF THIS SECTION AND THE REPAYMENT FUNDING
29 COMMITMENT REQUIREMENT SPECIFIED IN SUBSECTION (13)(b)(II) OF THIS
30 SECTION, THE EXECUTIVE DIRECTOR SHALL ISSUE ADDITIONAL
31 TRANSPORTATION REVENUE ANTICIPATION NOTES IN A MAXIMUM AMOUNT
32 OF TWO BILLION THREE HUNDRED FIFTY MILLION DOLLARS AND WITH A
33 MAXIMUM REPAYMENT COST OF THREE BILLION THREE HUNDRED FIFTY
34 MILLION DOLLARS. THE MAXIMUM REPAYMENT TERM FOR ANY NOTES
35 ISSUED PURSUANT TO THIS SUBSECTION (13)(b) IS TWENTY YEARS, AND
36 THE CERTIFICATE, TRUST INDENTURE, OR OTHER INSTRUMENT
37 AUTHORIZING THEIR ISSUANCE SHALL PROVIDE THAT THE STATE MAY PAY
38 THE NOTES IN FULL BEFORE THE END OF THE SPECIFIED PAYMENT TERM
39 WITHOUT PENALTY.
40 (II) NOTWITHSTANDING SECTION 43-1-113 (19) AND SUBSECTION
41 (12)(a) OF THIS SECTION, BEFORE ISSUING ANY REVENUE ANTICIPATION
42 NOTES AS AUTHORIZED BY SUBSECTION (13)(b)(I) OF THIS SECTION, THE
43 TRANSPORTATION COMMISSION SHALL ADOPT A RESOLUTION PLEDGING TO
44 ANNUALLY ALLOCATE FROM LEGALLY AVAILABLE MONEY UNDER ITS
45 CONTROL ANY AMOUNT NEEDED FOR PAYMENT OF THE NOTES UNTIL THE
46 NOTES ARE FULLY REPAID. THE COMMISSION SHALL FIRST ALLOCATE FOR
47 PAYMENT OF THE NOTES MONEY TRANSFERRED FROM THE GENERAL FUND
48 TO THE STATE HIGHWAY FUND PURSUANT TO SECTION 24-75-219 (5)(b)
49 AND ANY MONEY AUTHORIZED TO BE EXPENDED FROM THE
50 TRANSPORTATION REVENUE ANTICIPATION NOTES RESERVE ACCOUNT
51 CREATED IN SECTION 43-4-714 (2) AND THEREAFTER SHALL ALLOCATE FOR
52 PAYMENT OF THE NOTES ANY OTHER LEGALLY AVAILABLE MONEY UNDER
53 ITS CONTROL.
54 (III) THE SECRETARY OF STATE SHALL SUBMIT TO THE REGISTERED
55 ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION AT THE
56 NOVEMBER 2019 STATEWIDE ELECTION THE FOLLOWING BALLOT ISSUE:
1 "SHALL STATE OF COLORADO DEBT BE INCREASED UP TO $2,350,000,000,
2 WITH A MAXIMUM REPAYMENT COST OF $3,350,000,000, THROUGH THE
3 ISSUANCE OF TRANSPORTATION REVENUE ANTICIPATION NOTES FOR THE
4 PURPOSE OF ADDRESSING CRITICAL PRIORITY TRANSPORTATION NEEDS IN
5 THE STATE BY FINANCING STATE AND LOCAL TRANSPORTATION PROJECTS,
6 SHALL NOTE PROCEEDS AND INVESTMENT EARNINGS ON NOTE PROCEEDS
7 BE EXCLUDED FROM STATE FISCAL YEAR SPENDING LIMITS, AND SHALL THE
8 AMOUNT OF LEASE-PURCHASE AGREEMENTS REQUIRED BY CURRENT LAW
9 TO BE ISSUED FOR THE PURPOSE OF FINANCING TRANSPORTATION PROJECTS
10 BE REDUCED?"
11 (IV) NO LATER THAN MAY 1, 2019, THE DEPARTMENT SHALL
12 PROVIDE TO THE DIRECTOR OF RESEARCH OF THE LEGISLATIVE COUNCIL
13 THE MOST RECENT AVAILABLE LIST OF QUALIFIED FEDERAL AID
14 TRANSPORTATION PROJECTS, INCLUDING MULTIMODAL CAPITAL PROJECTS,
15 THAT ARE DESIGNATED FOR TIER 1 FUNDING AS TEN-YEAR DEVELOPMENT
16 PROGRAM PROJECTS ON THE DEPARTMENT'S 2019 DEVELOPMENT PROGRAM
17 PROJECT LIST AND THAT THE DEPARTMENT WILL FUND WITH PROCEEDS OF
18 ANY TRANSPORTATION REVENUE ANTICIPATION NOTES ISSUED AS
19 AUTHORIZED BY THIS SUBSECTION (13)(b). IN ORDER TO FULLY INFORM
20 THE VOTERS OF THE STATE CONCERNING THE PROJECTS TO BE FUNDED
21 WITH PROCEEDS OF ANY SUCH ADDITIONAL TRANSPORTATION REVENUE
22 ANTICIPATION NOTES BEFORE THE VOTERS VOTE ON THE BALLOT QUESTION
23 SPECIFIED IN SUBSECTION (13)(b)(III) OF THIS SECTION, THE DIRECTOR OF
24 RESEARCH SHALL PUBLISH THE LIST, INCLUDING ANY SUBSEQUENT
25 UPDATES TO THE LIST MADE BEFORE FINAL APPROVAL BY THE LEGISLATIVE
26 COUNCIL OF THE 2019 BALLOT INFORMATION BOOKLET PREPARED
27 PURSUANT TO SECTION 1-40-124.5, WHICH UPDATES THE DEPARTMENT
28 SHALL EXPEDITIOUSLY PROVIDE TO THE DIRECTOR OF RESEARCH, IN THE
29 BALLOT INFORMATION BOOKLET.
30 (V) (A) THIS SUBSECTION (13)(b) IS REPEALED, EFFECTIVE
31 JANUARY 1, 2019, IF A BALLOT ISSUE INITIATED BY PRIVATE CITIZENS THAT
32 AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
33 ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
2018 34 STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER
35 GENERAL ELECTION AND A MAJORITY OF THE ELECTORS VOTING ON THE
36 BALLOT ISSUE VOTE "YES/FOR".
37 (B) THIS SUBSECTION (13)(b) IS REPEALED, EFFECTIVE JANUARY
38 1, 2020, IF A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE IN
39 SUBSECTION (13)(b)(III) OF THIS SECTION VOTE "NO/AGAINST".
40 (C) THIS SUBSECTION (13)(b)(V) IS REPEALED, EFFECTIVE
41 JANUARY 1, 2020, IF A MAJORITY OF THE ELECTORS VOTING ON THE
42 BALLOT ISSUE IN SUBSECTION (13)(b)(III) OF THIS SECTION VOTE
43 "YES/FOR".
44 SECTION 10. In Colorado Revised Statutes, amend 43-4-714 as
45 follows:
46 43-4-714. Use of note proceeds - repeal. (1) If the executive
47 director issues any revenue anticipation notes in accordance with the
48 provisions of this part 7, the proceeds from the sale of such notes that are
49 not otherwise pledged for the payment of such notes shall be used for the
50 qualified federal aid transportation projects included in the strategic
51 transportation project investment program of the department of
52 transportation. EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (2) OF
53 THIS SECTION, NET PROCEEDS FROM THE SALE OF ANY TRANSPORTATION
54 REVENUE ANTICIPATION NOTES THAT THE EXECUTIVE DIRECTOR ISSUES
55 PURSUANT TO SECTION 43-4-705 (13)(b) THAT ARE NOT OTHERWISE
56 PLEDGED FOR THE PAYMENT OF THE NOTES SHALL BE ALLOCATED AS
1 FOLLOWS:
2 (a) SEVENTY PERCENT OF THE NET PROCEEDS SHALL BE CREDITED
3 TO THE STATE HIGHWAY FUND CREATED IN SECTION 43-1-219 AND
4 EXPENDED BY THE DEPARTMENT ONLY FOR QUALIFIED FEDERAL AID
5 TRANSPORTATION PROJECTS THAT ARE INCLUDED IN THE STRATEGIC
6 TRANSPORTATION PROJECT INVESTMENT PROGRAM OF THE DEPARTMENT
7 OF TRANSPORTATION AND THAT ARE DESIGNATED FOR TIER 1 FUNDING AS
8 TEN-YEAR DEVELOPMENT PROGRAM PROJECTS ON THE DEPARTMENT'S
9 DEVELOPMENT PROGRAM PROJECT LIST, WITH AT LEAST TWENTY-FIVE
10 PERCENT OF THE NET PROCEEDS OF TRANSPORTATION REVENUE
11 ANTICIPATION NOTES THAT ARE CREDITED TO THE STATE HIGHWAY FUND
12 BEING USED FOR PROJECTS THAT ARE LOCATED IN COUNTIES WITH
13 POPULATIONS OF FIFTY THOUSAND OR LESS AS OF JULY 2015 AS REPORTED
14 BY THE STATE DEMOGRAPHY OFFICE OF THE DEPARTMENT OF LOCAL
15 AFFAIRS. NO MORE THAN NINETY PERCENT OF THE NET PROCEEDS OF
16 TRANSPORTATION REVENUE ANTICIPATION NOTES THAT ARE CREDITED TO
17 THE STATE HIGHWAY FUND SHALL BE EXPENDED FOR HIGHWAY PURPOSES
18 OR HIGHWAY-RELATED CAPITAL IMPROVEMENTS, AND AT LEAST TEN
19 PERCENT OF THOSE NET PROCEEDS SHALL BE EXPENDED FOR TRANSIT
20 PURPOSES OR FOR TRANSIT-RELATED CAPITAL IMPROVEMENTS, INCLUDING
21 SOUND WALLS ALONG INTERSTATE HIGHWAYS.
22 (b) FIFTEEN PERCENT OF THE NET PROCEEDS SHALL BE CREDITED
23 TO THE HIGHWAY USERS TAX FUND CREATED IN SECTION 43-4-201 (1)(a)
24 AND ALLOCATED AND EXPENDED AS FOLLOWS:
25 (I) FIFTY PERCENT OF THE NET PROCEEDS CREDITED TO THE
26 HIGHWAY USERS TAX FUND SHALL BE PAID TO THE COUNTY TREASURERS
27 OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL APPROPRIATION BY
28 THE GENERAL ASSEMBLY, AND SHALL BE ALLOCATED AND EXPENDED AS
29 PROVIDED IN SECTION 43-4-207; AND
30 (II) FIFTY PERCENT OF THE NET PROCEEDS CREDITED TO THE
31 HIGHWAY USERS TAX FUND SHALL BE PAID TO THE CITIES AND
32 INCORPORATED TOWNS, SUBJECT TO ANNUAL APPROPRIATION BY THE
33 GENERAL ASSEMBLY, AND SHALL BE ALLOCATED AND EXPENDED AS
34 PROVIDED IN SECTIONS 43-4-208 (2) AND (6)(a).
35 (c) FIFTEEN PERCENT OF THE NET PROCEEDS SHALL BE CREDITED
36 TO THE MULTIMODAL TRANSPORTATION OPTIONS FUND CREATED IN
37 SECTION 43-4-1103 (1).
38 (2) BEFORE THE ALLOCATIONS REQUIRED BY SUBSECTION (1) OF
39 THIS SECTION ARE MADE, THE STATE TREASURER SHALL CREDIT THE FIRST
40 THREE HUNDRED THIRTY-FIVE MILLION DOLLARS OF NET PROCEEDS FROM
41 THE SALE OF ANY TRANSPORTATION REVENUE ANTICIPATION NOTES THAT
42 THE EXECUTIVE DIRECTOR ISSUES PURSUANT TO SECTION 43-4-705 (13)(b)
43 TO THE TRANSPORTATION REVENUE ANTICIPATION NOTES RESERVE
44 ACCOUNT, WHICH IS HEREBY CREATED IN THE STATE HIGHWAY FUND.
45 DURING ANY STATE FISCAL YEAR FOR WHICH THERE IS A GENERAL FUND
46 REVENUE SHORTFALL AND THE GOVERNOR FORMULATES AND IMPLEMENTS
47 A PLAN TO REDUCE GENERAL FUND EXPENDITURES AS REQUIRED BY
48 SECTION 24-75-201.5, THE GENERAL ASSEMBLY SHALL APPROPRIATE
49 MONEY FROM THE ACCOUNT FOR THE SOLE PURPOSE OF PAYING ALL OR A
50 PORTION OF ANY PAYMENT ON NOTES DUE DURING THE STATE FISCAL YEAR
51 TO THE EXTENT THAT DOING SO IS NECESSARY TO PREVENT THE GENERAL
52 ASSEMBLY FROM SETTING A BUDGET STABILIZATION FACTOR PURSUANT TO
53 SECTION 22-54-104 (5)(g) FOR THE STATE FISCAL YEAR THAT WOULD
54 MAKE THE DIFFERENCE, BASED ON APPROPRIATIONS THEN IN EFFECT,
55 BETWEEN CALCULATED STATEWIDE TOTAL PROGRAM FUNDING FOR ALL
56 SCHOOL DISTRICTS AND FOR INSTITUTE CHARTER SCHOOLS AND ACTUAL
1 STATEWIDE TOTAL PROGRAM FUNDING FOR ALL SCHOOL DISTRICTS AND
2 FOR INSTITUTE CHARTER SCHOOLS FOR THE STATE FISCAL YEAR AFTER
3 APPLICATION OF THE BUDGET STABILIZATION FACTOR EXCEED THAT
4 DIFFERENCE FOR THE PRIOR STATE FISCAL YEAR.
5 (3) (a) THIS SECTION IS REPEALED:
6 (I) EFFECTIVE JANUARY 1, 2019, IF A BALLOT ISSUE INITIATED BY
7 PRIVATE CITIZENS THAT AUTHORIZES THE STATE TO ISSUE
8 TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
9 REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
10 AT THE NOVEMBER 2018 GENERAL ELECTION AND A MAJORITY OF THE
11 ELECTORS VOTING ON THE BALLOT ISSUE VOTE "YES/FOR".
12 (II) EFFECTIVE JANUARY 1, 2020, IF A BALLOT ISSUE THAT
13 AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
14 ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
2019 15 STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER
16 STATEWIDE ELECTION PURSUANT TO SECTION 43-4-705 (13)(b) AND A
17 MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
18 "NO/AGAINST".
19 (b) THIS SUBSECTION (3) IS REPEALED, EFFECTIVE JANUARY 1,
20 2020, IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
21 TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
22 REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
23 AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
24 43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
25 BALLOT ISSUE VOTE "YES/FOR".
26 SECTION 11. In Colorado Revised Statutes, add part 11 to article
27 4 of title 43 as follows:
11 28 PART
29 MULTIMODAL TRANSPORTATION OPTIONS FUNDING
30 43-4-1101. Legislative declaration. (1) THE GENERAL ASSEMBLY
31 HEREBY FINDS AND DECLARES THAT IT IS NECESSARY, APPROPRIATE, AND
32 IN THE BEST INTEREST OF THE STATE TO USE A PORTION OF THE GENERAL
33 FUND MONEY THAT IS DEDICATED FOR TRANSPORTATION PURPOSES
34 PURSUANT TO SECTION 24-75-219 (5) TO FUND MULTIMODAL
35 TRANSPORTATION PROJECTS AND OPERATIONS THROUGHOUT THE STATE AS
36 AUTHORIZED BY THIS PART 11 BECAUSE, IN ADDITION TO THE GENERAL
37 BENEFITS THAT IT PROVIDES TO ALL COLORADANS, A COMPLETE AND
38 INTEGRATED MULTIMODAL TRANSPORTATION SYSTEM:
39 (a) BENEFITS SENIORS BY MAKING AGING IN PLACE MORE FEASIBLE
40 FOR THEM;
41 (b) BENEFITS RESIDENTS OF RURAL AREAS BY PROVIDING THEM
42 WITH FLEXIBLE PUBLIC TRANSPORTATION SERVICES;
43 (c) PROVIDES ENHANCED MOBILITY FOR PERSONS WITH
44 DISABILITIES; AND
45 (d) PROVIDES SAFE ROUTES TO SCHOOLS FOR CHILDREN.
46 43-4-1102. Definitions. AS USED IN THIS PART 11, UNLESS THE
47 CONTEXT OTHERWISE REQUIRES:
48 (1) "COMMISSION" MEANS THE TRANSPORTATION COMMISSION
49 CREATED IN SECTION 43-1-106 (1).
50 (2) "DEPARTMENT" MEANS THE DEPARTMENT OF
51 TRANSPORTATION.
52 (3) "FUND" MEANS THE MULTIMODAL TRANSPORTATION OPTIONS
53 FUND CREATED IN SECTION 43-4-1103 (1).
54 (4) "MULTIMODAL PROJECTS" MEANS CAPITAL OR OPERATING
55 COSTS FOR FIXED ROUTE AND ON-DEMAND TRANSIT, TRANSPORTATION
56 DEMAND MANAGEMENT PROGRAMS, MULTIMODAL MOBILITY PROJECTS
1 ENABLED BY NEW TECHNOLOGY, MULTIMODAL TRANSPORTATION STUDIES,
2 AND BICYCLE OR PEDESTRIAN PROJECTS.
3 43-4-1103. Multimodal transportation options fund - creation
4 - revenue source for fund - use of fund. (1) THE MULTIMODAL
5 TRANSPORTATION OPTIONS FUND IS HEREBY CREATED IN THE STATE
6 TREASURY. THE FUND CONSISTS OF MONEY TRANSFERRED FROM THE
7 GENERAL FUND TO THE FUND PURSUANT TO SECTION 24-75-219 (5)(a)(III)
8 AND (5)(b)(III), NET PROCEEDS OF TRANSPORTATION REVENUE
9 ANTICIPATION NOTES ISSUED AS AUTHORIZED BY A BALLOT ISSUE
10 SUBMITTED TO AND APPROVED BY THE REGISTERED ELECTORS OF THE
705 11 STATE AT THE 2019 STATEWIDE ELECTION PURSUANT TO SECTION 43-4-
714 12 (13)(b) THAT ARE CREDITED TO THE FUND PURSUANT TO SECTION 43-4-
13 (1)(c), AND ANY OTHER MONEY THAT THE GENERAL ASSEMBLY MAY
14 APPROPRIATE OR TRANSFER TO THE FUND. THE STATE TREASURER SHALL
15 CREDIT ALL INTEREST AND INCOME DERIVED FROM THE DEPOSIT AND
16 INVESTMENT OF MONEY IN THE FUND TO THE FUND.
17 (2) (a) (I) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION
18 (2)(a)(II) OF THIS SECTION, SUBJECT TO ANNUAL APPROPRIATION BY THE
19 GENERAL ASSEMBLY, MONEY MUST BE EXPENDED FROM THE FUND AS
20 FOLLOWS:
21 (A) EIGHTY-FIVE PERCENT TO THE COMMISSION FOR LOCAL
22 MULTIMODAL PROJECTS; AND
23 (B) FIFTEEN PERCENT TO THE COMMISSION FOR STATE
24 MULTIMODAL PROJECTS THAT ARE SELECTED BY THE COMMISSION.
25 (II) ON JULY 1, 2018, THE STATE TREASURER SHALL TRANSFER
26 TWO MILLION FIVE HUNDRED THOUSAND DOLLARS FROM THE FUND TO THE
27 FUND CREATED IN SECTION 43-4-1002 (1).
28 (b) WITH RESPECT TO THE DISTRIBUTION OF MONEY FOR LOCAL
29 MULTIMODAL PROJECTS REQUIRED IN SUBSECTION (2)(a)(I)(B) OF THIS
30 SECTION, THE COMMISSION SHALL ESTABLISH A FORMULA FOR
31 DISBURSEMENT OF THE AMOUNT ALLOCATED FOR LOCAL MULTIMODAL
32 PROJECTS, BASED ON POPULATION AND TRANSIT RIDERSHIP, IN
33 CONSULTATION WITH THE TRANSPORTATION ADVISORY COMMITTEE
34 CREATED IN SECTION 43-1-1104, THE TRANSIT AND RAIL ADVISORY
35 COMMITTEE OF THE DEPARTMENT, TRANSIT ADVOCACY ORGANIZATIONS,
36 AND BICYCLE AND PEDESTRIAN ADVOCACY ORGANIZATIONS. RECIPIENTS
37 SHALL PROVIDE A MATCH EQUAL TO THE AMOUNT OF THE AWARD; EXCEPT
38 THAT THE COMMISSION MAY CREATE A FORMULA FOR REDUCING OR
39 EXEMPTING THE MATCH REQUIREMENT FOR LOCAL GOVERNMENTS OR
40 AGENCIES DUE TO THEIR SIZE OR ANY OTHER SPECIAL CIRCUMSTANCES.
41 (3) (a) THE DEPARTMENT SHALL ANNUALLY REPORT TO THE
42 TRANSPORTATION LEGISLATION REVIEW COMMITTEE OF THE GENERAL
43 ASSEMBLY CREATED IN SECTION 43-2-145 (1) REGARDING ITS
44 EXPENDITURES FROM THE FUND INCLUDING, AT A MINIMUM:
45 (I) AN AGGREGATE ACCOUNTING OF ALL MONEY EXPENDED FROM
46 THE FUND DURING THE PRIOR FISCAL YEAR; AND
47 (II) A LISTING OF ALL PROJECTS RECEIVING FUNDING FROM THE
48 FUND DURING THE PRIOR FISCAL YEAR THAT INCLUDES FOR EACH PROJECT:
49 (A) IDENTIFICATION OF THE ENTITY RECEIVING FUNDING FOR THE
50 PROJECT;
51 (B) THE AMOUNT OF FUNDING PROVIDED FOR THE PROJECT; AND
52 (C) THE AMOUNT OF LOCAL MATCHING MONEY PROVIDED FOR THE
53 PROJECT.
54 (b) NOTWITHSTANDING SECTION 24-1-136 (11)(a), THE REPORTING
55 REQUIREMENT SPECIFIED IN SUBSECTION (3)(a) OF THIS SECTION
56 CONTINUES INDEFINITELY.
1 SECTION 12. Effective date - applicability. (1) Except as
2 otherwise provided in subsection (2) of this section, this act takes effect
3 upon passage.
4 (2) Section 3 of this act takes effect only if either:
5 (a) A ballot issue initiated by private citizens that authorizes the
6 state to issue transportation revenue anticipation notes but does not
7 authorize the state to collect additional tax revenue for the purpose of
8 providing a revenue source for repayment of the notes is submitted to the
9 registered electors of the state for their approval or rejection at the
10 November 2018 general election and a majority of the electors voting on
11 the ballot issue vote "Yes/For", and, in such case, section 3 of this act
12 takes effect on the date of the official declaration of the vote thereon by
13 the governor; or
14 (b) A ballot issue that authorizes the state to issue transportation
15 revenue anticipation notes is submitted to the registered electors of the
16 state for their approval or rejection at the November 2019 statewide
17 election pursuant to section 43-4-705 (13)(b), Colorado Revised Statutes,
18 enacted in section 9 of this act, and a majority of the electors voting on
19 the ballot issue vote "Yes/For", and, in such case, section 3 of this act
20 takes effect on the date of the official declaration of the vote thereon by
21 the governor.
22 SECTION 13. Safety clause. The general assembly hereby finds,
23 determines, and declares that this act is necessary for the immediate
24 preservation of the public peace, health, and safety.".
25
26 Page 1, strike lines 103 through 108 and substitute "AMOUNTS TO BE
27 TRANSFERRED FROM THE GENERAL FUND TO THE STATE HIGHWAY
28 FUND, THE HIGHWAY USERS TAX FUND, AND A NEW MULTIMODAL
19 29 TRANSPORTATION OPTIONS FUND DURING STATE FISCAL YEARS 2018-
30 AND 2019-20 FOR THE PURPOSE OF FUNDING STATE AND LOCAL
31 TRANSPORTATION PROJECTS AND TO THE STATE HIGHWAY FUND
32 DURING ANY STATE FISCAL YEAR FROM 2019-20 THROUGH 2038-39 IF
33 NEEDED TO REPAY ANY TRANSPORTATION".
34
35 Page 2, line 107, after "PRIORITY" insert "STATE AND LOCAL".
36
37

House Journal, May 7
31 Amendment No. 1, by Representative(s) Winter.
32
33 Strike the Transportation Committee Report, dated May 3, 2018, and
34 substitute:
35
36 "Amend reengrossed bill, strike everything below the enacting
37 clause and substitute:
38
39 "SECTION 1. Legislative declaration. (1) The general
40 assembly hereby finds and declares that:
41 (a) Colorado's population is expected to increase to over six
42 million nine hundred thousand by 2030;
43 (b) Population growth has significantly increased traffic and
44 congestion and will continue to do so in the future, causing longer travel
45 times, increasing air pollution, decreasing Coloradans' access to
46 recreational opportunities, and accelerating the deterioration of
47 Colorado's transportation infrastructure;
48 (c) The growth of the economy of the state has prompted new and
49 ever-increasing uses of public highways, roads, and other transportation
50 infrastructure, and the existing transportation infrastructure of the state
51 cannot accommodate such greatly increased uses;
52 (d) In order to preserve and improve Colorado's economic
53 prosperity and quality of life, it is necessary to develop and maintain a
54 modern, efficient, and cost-effective multimodal transportation system
55 that can move people, goods, and information without undue delays or
56 environmental consequences;
1 (e) One of the major concerns of the citizens of the state is the
2 ability of the state and local governments to address the long-term
3 transportation infrastructure needs of the state that are critical to the
4 continued growth of the state's economy and the maintenance of citizens'
5 quality of life;
6 (f) The state has significantly decreased its contribution of general
7 state revenue available in recent years to fund critical priority
8 transportation infrastructure needs, and current transportation funding
9 mechanisms do not provide adequate revenue to keep pace with the
10 increasing demands on transportation infrastructure statewide;
11 (g) Needed transportation projects remain unfunded or
12 underfunded while construction costs escalate and congestion worsens;
13 (h) With the combination of changes to tax policy and a forecasted
14 growing economy, the state has an opportunity in the upcoming two or
15 three state fiscal years to commit revenue for prioritized state government
16 expenses, including the backlog of transportation needs and the foregone
17 state share of total program funding of K-12 public schools;
18 (i) In 1999, the general assembly and the voters of the state
19 approved Referendum A, which authorized the state to issue
20 transportation revenue anticipation notes to accelerate the funding and
21 completion of twenty-eight strategic transportation projects in significant
22 corridors, including the T-REX project, the highly successful expansion
23 and congestion mitigation project for the Interstate 25 corridor in the
24 Denver metropolitan area;
25 (j) The success of the 1999 transportation revenue anticipation
26 notes program shows that leveraging existing revenue is a prudent and
27 cost-effective means to accelerate and deliver transportation projects
28 throughout the state;
29 (k) In 2017, the general assembly enacted Senate Bill 17-267,
30 which:
31 (I) Requires the state to enter into lease-purchase agreements for
32 state facilities in the amount of three hundred eighty million dollars
33 during the 2018-19 state fiscal year and five hundred million dollars
34 during each of the 2019-20, 2020-21, and 2021-22 state fiscal years in
35 order to accelerate the funding of high-priority transportation projects
36 throughout the state; and
37 (II) Significantly increases the amount of money that the state may
38 retain and spend under its fiscal year spending limit;
39 (l) While the lease-purchase agreements required by Senate Bill
40 17-267 will provide some increased funding for transportation, such
41 agreements leverage state capital assets, rather than state revenue, and, to
42 the extent currently authorized, provide less total funding than
43 transportation revenue anticipation notes can;
44 (m) If the state enters into all of the lease-purchase agreements
45 required by Senate Bill 17-267, the state will be required to spend
46 approximately one hundred fifty million dollars per year, including one
47 hundred million dollars per year from the state general fund and fifty
48 million dollars per year from money under the control of the
49 transportation commission, to repay the lease-purchase agreements;
50 (n) It is necessary, in order to avoid delaying critical transportation
51 projects that are expected to be funded in part with proceeds of
52 lease-purchase agreements to be issued during the 2018-19 state fiscal
53 year, for the state to enter into lease-purchase agreements as required by
54 Senate Bill 17-267 during the 2018-19 state fiscal year;
55 (o) It is also necessary, appropriate, and in the best interest of the
56 state to:
1 (I) Repeal the requirement that the state enter into additional
22 2 lease-purchase agreements during the 2019-20, 2020-21, and 2021-
3 state fiscal years;
4 (II) If required statewide voter approval can be obtained for a
5 ballot issue submitted by the state that authorizes the state to issue
6 transportation revenue anticipation notes as specified in this act, use
7 transportation revenue anticipation notes instead of lease-purchase
8 agreements to finance transportation projects because doing so will
9 generate a larger amount of up-front revenue for the projects and will
10 enable the state to design and construct the projects more efficiently; and
11 (III) Use the money that will no longer be needed to repay
12 lease-purchase agreements, as well as a portion of the additional general
13 fund money that the state may retain and spend under its fiscal year
14 spending limit due to the enactment of Senate Bill 17-267, to repay the
15 transportation revenue anticipation notes; and
16 (p) The issuance of new transportation revenue anticipation notes
17 in lieu of the execution of lease-purchase agreements will accelerate the
18 funding and efficient completion of specific and designated projects,
19 including multimodal transportation projects, throughout the state that the
20 Colorado department of transportation and the transportation planning
21 regions of the state have determined to be of highest priority and
22 economically significant to the state and the regions in which they will be
23 built.
24 (2) The general assembly further finds and declares that:
25 (a) This act does not increase taxes or refer a ballot issue to the
26 voters of the state seeking their approval to raise taxes;
27 (b) Private citizens have proposed certain transportation funding
28 ballot measures by initiative, one or more of which may be placed on the
29 ballot for the November 2018 general election;
30 (c) All of the citizen-initiated ballot measures, if approved by the
31 voters of the state, will authorize the state to issue transportation revenue
32 anticipation notes to provide additional funding for transportation
33 infrastructure projects, but only some of the measures will also authorize
34 the state to collect additional taxes to provide a source of money to repay
35 the notes;
36 (d) It is necessary and appropriate for the state to refer a ballot
37 issue that authorizes the state to issue transportation revenue anticipation
38 notes to the voters of the state at the November 2019 statewide election
39 as specified in this act if:
40 (I) No citizen-initiated transportation funding ballot measure is
41 placed on the ballot for the November 2018 general election; or
42 (II) The voters reject every citizen-initiated transportation funding
43 ballot measure that is placed on that ballot; and
44 (e) Because the state must fund many high priority needs and has
45 limited resources with which to do so, if the voters of the state approve
46 a citizen-initiated ballot measure at the November 2018 general election
47 that authorizes the state to issue transportation revenue anticipation notes
48 but does not authorize the state to collect additional taxes to provide a
49 source of money to repay the notes and therefore requires the state to
50 divert money from other high priority needs to repay the notes, it will be
51 neither necessary nor appropriate for the state to refer a ballot issue that
52 authorizes the state to issue additional transportation revenue anticipation
53 notes to the voters of the state at the November 2019 statewide election.
54 SECTION 2. In Colorado Revised Statutes, 24-75-219, add
55 (1)(g), (1)(h), and (5) as follows:
56
1 24-75-219. Transfers - transportation - capital construction -
2 definitions - repeal. (1) As used in this section, unless the context
3 otherwise requires:
4 (g) "MULTIMODAL TRANSPORTATION OPTIONS FUND" MEANS THE
5 MULTIMODAL TRANSPORTATION OPTIONS FUND CREATED IN SECTION
6 43-4-1103 (1).
7 (h) "STATE HIGHWAY FUND" MEANS THE STATE HIGHWAY FUND
8 CREATED IN SECTION 43-1-219.
9 (5) (a) ON JULY 1, 2018, THE STATE TREASURER SHALL TRANSFER
10 A TOTAL AMOUNT OF FOUR HUNDRED NINETY-FIVE MILLION DOLLARS
11 FROM THE GENERAL FUND FOR THE PURPOSES OF FUNDING STATE AND
12 LOCAL TRANSPORTATION NEEDS AS FOLLOWS:
13 (I) THREE HUNDRED FORTY-SIX MILLION FIVE HUNDRED THOUSAND
14 DOLLARS TO THE STATE HIGHWAY FUND;
15 (II) SEVENTY-FOUR MILLION TWO HUNDRED FIFTY THOUSAND
16 DOLLARS TO THE HIGHWAY USERS TAX FUND FOR ALLOCATION TO
17 COUNTIES AND MUNICIPALITIES AS SPECIFIED IN SECTION 43-4-205 (6.4);
18 AND
19 (III) SEVENTY-FOUR MILLION TWO HUNDRED FIFTY THOUSAND
20 DOLLARS TO THE MULTIMODAL TRANSPORTATION OPTIONS FUND.
21 (b) ON JULY 1, 2019, THE STATE TREASURER SHALL TRANSFER A
22 TOTAL AMOUNT OF ONE HUNDRED FIFTY MILLION DOLLARS FROM THE
23 GENERAL FUND FOR THE PURPOSES OF FUNDING STATE AND LOCAL
24 TRANSPORTATION NEEDS AS FOLLOWS:
25 (I) ONE HUNDRED FIVE MILLION DOLLARS TO THE STATE HIGHWAY
26 FUND;
27 (II) TWENTY-TWO MILLION FIVE HUNDRED THOUSAND DOLLARS TO
28 THE HIGHWAY USERS TAX FUND FOR ALLOCATION TO COUNTIES AND
29 MUNICIPALITIES AS SPECIFIED IN SECTION 43-4-205 (6.4); AND
30 (III) TWENTY-TWO MILLION FIVE HUNDRED THOUSAND DOLLARS
31 TO THE MULTIMODAL TRANSPORTATION OPTIONS FUND.
32 (c) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (5)(d) OF THIS
33 SECTION AND SECTION 43-4-714 (2)(a), ON JUNE 30, 2020, AND ON EACH
34 SUCCEEDING JUNE 30 THROUGH JUNE 30, 2039, THE STATE TREASURER
35 SHALL TRANSFER MONEY FROM THE GENERAL FUND TO THE STATE
36 HIGHWAY FUND AS FOLLOWS:
37 (I) (A) IF A CITIZEN-INITIATED BALLOT ISSUE THAT AUTHORIZES
38 THE STATE TO ISSUE TRANSPORTATION REVENUE ANTICIPATION NOTES BUT
39 DOES NOT AUTHORIZE THE STATE TO COLLECT ADDITIONAL TAX REVENUE
40 FOR THE PURPOSE OF PROVIDING A REVENUE SOURCE FOR REPAYMENT OF
41 THE NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE STATE
42 FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2018 GENERAL
43 ELECTION AND A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT
44 ISSUE VOTE "YES/FOR", THEN, EVEN IF ANOTHER CITIZEN-INITIATED
45 BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE TRANSPORTATION
46 REVENUE ANTICIPATION NOTES AND ALSO AUTHORIZES THE STATE TO
47 COLLECT ADDITIONAL TAX REVENUE FOR THE PURPOSE OF PROVIDING A
48 REVENUE SOURCE FOR REPAYMENT OF THE NOTES IS SUBMITTED TO THE
49 REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
50 AT THE NOVEMBER 2018 GENERAL ELECTION AND A MAJORITY OF THE
51 ELECTORS VOTING ON THE BALLOT ISSUE VOTE "YES/FOR", ZERO DOLLARS;
52 (B) THIS SUBSECTION (5)(c)(I) IS REPEALED, EFFECTIVE JANUARY
53 1, 2019, IF A CITIZEN-INITIATED BALLOT ISSUE THAT AUTHORIZES THE
54 STATE TO ISSUE TRANSPORTATION REVENUE ANTICIPATION NOTES BUT
55 DOES NOT AUTHORIZE THE STATE TO COLLECT ADDITIONAL TAX REVENUE
56 FOR THE PURPOSE OF PROVIDING A REVENUE SOURCE FOR REPAYMENT OF
1 THE NOTES IS NOT SUBMITTED TO THE REGISTERED ELECTORS OF THE
2018 2 STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER
3 GENERAL ELECTION OR IF SUCH A BALLOT ISSUE IS SUBMITTED AND A
4 MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
5 "NO/AGAINST";
6 (C) THIS SUBSECTION (5)(c)(I)(C) AND SUBSECTION (5)(c)(I)(B) OF
7 THIS SECTION ARE REPEALED, EFFECTIVE JANUARY 1, 2019, IF A
8 CITIZEN-INITIATED BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
9 TRANSPORTATION REVENUE ANTICIPATION NOTES BUT DOES NOT
10 AUTHORIZE THE STATE TO COLLECT ADDITIONAL TAX REVENUE FOR THE
11 PURPOSE OF PROVIDING A REVENUE SOURCE FOR REPAYMENT OF THE
12 NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE STATE FOR
13 THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2018 GENERAL
14 ELECTION AND A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT
15 ISSUE VOTE "YES/FOR";
16 (II) (A) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION
17 (5)(c)(I)(A) OF THIS SECTION, IF A CITIZEN-INITIATED BALLOT ISSUE THAT
18 AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
19 ANTICIPATION NOTES AND ALSO AUTHORIZES THE STATE TO COLLECT
20 ADDITIONAL TAX REVENUE FOR THE PURPOSE OF PROVIDING A REVENUE
21 SOURCE FOR REPAYMENT OF THE NOTES IS SUBMITTED TO THE REGISTERED
22 ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION AT THE
23 NOVEMBER 2018 GENERAL ELECTION AND A MAJORITY OF THE ELECTORS
24 VOTING ON THE BALLOT ISSUE VOTE "YES/FOR", FIFTY MILLION DOLLARS;
25 (B) THIS SUBSECTION (5)(c)(II) IS REPEALED, EFFECTIVE JANUARY
26 1, 2019, IF A CITIZEN-INITIATED BALLOT ISSUE THAT AUTHORIZES THE
27 STATE TO ISSUE TRANSPORTATION REVENUE ANTICIPATION NOTES AND
28 ALSO AUTHORIZES THE STATE TO COLLECT ADDITIONAL TAX REVENUE FOR
29 THE PURPOSE OF PROVIDING A REVENUE SOURCE FOR REPAYMENT OF THE
30 NOTES IS NOT SUBMITTED TO THE REGISTERED ELECTORS OF THE STATE
31 FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2018 GENERAL
32 ELECTION, IF SUCH A BALLOT ISSUE IS SUBMITTED AND A MAJORITY OF THE
33 ELECTORS VOTING ON THE BALLOT ISSUE VOTE "NO/AGAINST", OR IF A
34 CITIZEN-INITIATED BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
35 TRANSPORTATION REVENUE ANTICIPATION NOTES BUT DOES NOT
36 AUTHORIZE THE STATE TO COLLECT ADDITIONAL TAX REVENUE FOR THE
37 PURPOSE OF PROVIDING A REVENUE SOURCE FOR REPAYMENT OF THE
38 NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE STATE FOR
39 THEIR APPROVAL OR REJECTION AT THE NOVEMBER 2018 GENERAL
40 ELECTION AND A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT
41 ISSUE VOTE "YES/FOR";
42 (C) THIS SUBSECTION (5)(c)(II)(C) AND SUBSECTION (5)(c)(II)(B)
43 OF THIS SECTION ARE REPEALED, EFFECTIVE JANUARY 1, 2019, IF A
44 CITIZEN-INITIATED BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
45 TRANSPORTATION REVENUE ANTICIPATION NOTES AND ALSO AUTHORIZES
46 THE STATE TO COLLECT ADDITIONAL TAX REVENUE FOR THE PURPOSE OF
47 PROVIDING A REVENUE SOURCE FOR REPAYMENT OF THE NOTES IS
48 SUBMITTED TO THE REGISTERED ELECTORS OF THE STATE FOR THEIR
49 APPROVAL OR REJECTION AT THE NOVEMBER 2018 GENERAL ELECTION
50 AND A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
51 "YES/FOR" AND EITHER A CITIZEN-INITIATED BALLOT ISSUE THAT
52 AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
53 ANTICIPATION NOTES BUT DOES NOT AUTHORIZE THE STATE TO COLLECT
54 ADDITIONAL TAX REVENUE FOR THE PURPOSE OF PROVIDING A REVENUE
55 SOURCE FOR REPAYMENT OF THE NOTES IS NOT SUBMITTED TO THE
56 REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
1 AT THE NOVEMBER 2018 GENERAL ELECTION OR, IF SUCH A BALLOT ISSUE
2 IS SUBMITTED, A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT
3 ISSUE VOTE "NO/AGAINST";
4 (III) (A) IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
5 TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
6 REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
7 AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
8 43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
9 BALLOT ISSUE VOTE "NO/AGAINST", FIFTY MILLION DOLLARS;
10 (B) THIS SUBSECTION (5)(c)(III) IS REPEALED, EFFECTIVE JANUARY
11 1, 2019, IF ANY CITIZEN-INITIATED BALLOT ISSUE THAT AUTHORIZES THE
12 STATE TO ISSUE TRANSPORTATION REVENUE ANTICIPATION NOTES IS
13 SUBMITTED TO THE REGISTERED ELECTORS OF THE STATE FOR THEIR
14 APPROVAL OR REJECTION AT THE NOVEMBER 2018 GENERAL ELECTION OR
15 AND A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
16 "YES/FOR";
17 (C) THIS SUBSECTION (5)(c)(III) IS REPEALED, EFFECTIVE JANUARY
18 1, 2020, IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
19 TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
20 REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
21 AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
22 43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
23 BALLOT ISSUE VOTE "YES/FOR";
24 (D) THIS SUBSECTION (5)(c)(III)(D) AND SUBSECTIONS
25 (5)(c)(III)(B) AND (5)(c)(III)(C) OF THIS SECTION ARE REPEALED,
26 EFFECTIVE JANUARY 1, 2020, IF A BALLOT ISSUE THAT AUTHORIZES THE
27 STATE TO ISSUE TRANSPORTATION REVENUE ANTICIPATION NOTES IS
28 SUBMITTED TO THE REGISTERED ELECTORS OF THE STATE FOR THEIR
29 APPROVAL OR REJECTION AT THE NOVEMBER 2019 STATEWIDE ELECTION
30 PURSUANT TO SECTION 43-4-705 (13)(b) AND A MAJORITY OF THE
31 ELECTORS VOTING ON THE BALLOT ISSUE VOTE "NO/AGAINST"; OR
32 (IV) (A) IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
33 TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
34 REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
35 AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
36 43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
37 BALLOT ISSUE VOTE "YES/FOR", ONE HUNDRED TWENTY-TWO MILLION SIX
38 HUNDRED THOUSAND DOLLARS;
39 (B) THIS SUBSECTION (5)(c)(IV) IS REPEALED, EFFECTIVE JANUARY
40 1, 2019, IF ANY CITIZEN-INITIATED BALLOT ISSUE THAT AUTHORIZES THE
41 STATE TO ISSUE TRANSPORTATION REVENUE ANTICIPATION NOTES IS
42 SUBMITTED TO THE REGISTERED ELECTORS OF THE STATE FOR THEIR
43 APPROVAL OR REJECTION AT THE NOVEMBER 2018 GENERAL ELECTION
44 AND A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
45 "YES/FOR";
46 (C) THIS SUBSECTION (5)(c)(IV) IS REPEALED, EFFECTIVE JANUARY
47 1, 2020, IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
48 TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
49 REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
50 AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
51 43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
52 BALLOT ISSUE VOTE "NO/AGAINST";
53 (D) THIS SUBSECTION (5)(c)(IV)(D) AND SUBSECTIONS
54 (5)(c)(IV)(B) AND (5)(c)(IV)(C) OF THIS SECTION ARE REPEALED,
55 EFFECTIVE JANUARY 1, 2020, IF A BALLOT ISSUE THAT AUTHORIZES THE
56 STATE TO ISSUE TRANSPORTATION REVENUE ANTICIPATION NOTES IS
1 SUBMITTED TO THE REGISTERED ELECTORS OF THE STATE FOR THEIR
2 APPROVAL OR REJECTION AT THE NOVEMBER 2019 STATEWIDE ELECTION
3 PURSUANT TO SECTION 43-4-705 (13)(b) AND A MAJORITY OF THE
4 ELECTORS VOTING ON THE BALLOT ISSUE VOTE "YES/FOR"; OR
5 (d) (I) IF THE TRANSPORTATION COMMISSION ALLOCATES MONEY
6 FROM THE TRANSPORTATION REVENUE ANTICIPATION NOTES RESERVE
714 7 ACCOUNT OF THE STATE HIGHWAY FUND PURSUANT TO SECTION 43-4-
8 (2) DURING ANY STATE FISCAL YEAR, THE AMOUNT OF ANY TRANSFER
9 REQUIRED BY SUBSECTION (5)(c)(IV)(A) OF THIS SECTION IS REDUCED BY
10 AN AMOUNT EQUAL TO THE AMOUNT OF THE ALLOCATION FROM THE
11 ACCOUNT.
12 (II) THIS SUBSECTION (5)(d) IS REPEALED:
13 (A) EFFECTIVE JANUARY 1, 2019, IF A CITIZEN-INITIATED BALLOT
14 ISSUE THAT AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
15 ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
2018 16 STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER
17 GENERAL ELECTION AND A MAJORITY OF THE ELECTORS VOTING ON THE
18 BALLOT ISSUE VOTE "YES/FOR";
19 (B) EFFECTIVE JANUARY 1, 2020, IF A BALLOT ISSUE THAT
20 AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
21 ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
2019 22 STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER
23 STATEWIDE ELECTION PURSUANT TO SECTION 43-4-705 (13)(b) AND A
24 MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
25 "NO/AGAINST".
26 (III) THIS SUBSECTION (5)(d)(III) AND SUBSECTION (5)(d)(II) OF
27 THIS SECTION ARE REPEALED, EFFECTIVE JANUARY 1, 2020, IF A BALLOT
28 ISSUE THAT AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
29 ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
2019 30 STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER
31 STATEWIDE ELECTION PURSUANT TO SECTION 43-4-705 (13)(b) AND A
32 MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
33 "YES/FOR".
34
35 SECTION 3. In Colorado Revised Statutes, 24-82-1303, amend
36 (2)(a), (2)(b), and (2)(d)(II); and repeal (1) as follows:
37 24-82-1303. Lease-purchase agreements for capital
38 construction and transportation projects. (1) On or before December
39 31, 2017, the state architect, the director of the office of state planning
40 and budgeting or his or her designee, and the state institutions of higher
41 education shall identify and prepare a collaborative list of eligible state
42 facilities that can be collateralized as part of the lease-purchase
43 agreements for capital construction and transportation projects authorized
44 in this part 13. The total current replacement value of the identified
45 buildings must equal at least two billion dollars.
102 46 (2) (a) Notwithstanding the provisions of sections 24-82-
47 (1)(b) and 24-82-801, and pursuant to section 24-36-121, no sooner than
48 July 1, 2018, the state, acting by and through the state treasurer, shall
49 execute lease-purchase agreements, each for no more than twenty years
50 of annual payments, for the projects described in subsection (4) of this
51 section. The state shall execute the lease-purchase agreements only in
52 accordance with the following schedule: DURING THE 2018-19 STATE
53 FISCAL YEAR IN AN AMOUNT UP TO FIVE HUNDRED MILLION DOLLARS.
54 (I) During the 2018-19 state fiscal year, the state shall execute
55 lease-purchase agreements in an amount up to five hundred million
56 dollars;
1 (II) During the 2019-20 state fiscal year, the state shall execute
2 lease-purchase agreements in an amount up to five hundred million
3 dollars;
4 (III) During the 2020-21 state fiscal year, the state shall execute
5 lease-purchase agreements in an amount up to five hundred million
6 dollars; and
7 (IV) During the 2021-22 fiscal year, the state shall execute
8 lease-purchase agreements in an amount up to five hundred million
9 dollars.
10 (b) The anticipated annual state-funded payments for the principal
11 and interest components of the amount payable under all lease-purchase
12 agreements entered into pursuant to subsection (2)(a) of this section shall
13 not exceed one hundred fifty THIRTY-SEVEN million FIVE HUNDRED
14 THOUSAND dollars.
15 (d) Any lease-purchase agreement executed as required by
16 subsection (2)(a) of this section shall provide that all of the obligations of
17 the state under the agreement are subject to the action of the general
18 assembly in annually making money available for all payments
19 thereunder. Payments under any lease-purchase agreement must be made,
20 subject to annual allocation pursuant to section 43-1-113 by the
21 transportation commission created in section 43-1-106 (1) or subject to
22 annual appropriation by the general assembly, as applicable, from the
23 following sources of money:
24 (II) (A) Next, fifty FOR STATE FISCAL YEAR 2018-19 ONLY,
25 TWENTY-EIGHT million FIVE HUNDRED THOUSAND dollars, annually, or
26 any lesser amount that is sufficient to make each full payment due, shall
27 be paid from any legally available money under the control of the
28 transportation commission solely for the purpose of allowing the
29 construction, supervision, and maintenance of state highways to be
30 funded with the proceeds of lease-purchase agreements as specified in
31 subsection (4)(b) of this section and section 43-4-206 (1)(b)(V); and OR
32 (B) NEXT, FOR EACH SUCCEEDING STATE FISCAL YEAR FOR WHICH
33 A PAYMENT UNDER ANY LEASE-PURCHASE AGREEMENT MUST BE MADE,
34 TEN MILLION ONE HUNDRED THOUSAND DOLLARS ANNUALLY, OR ANY
35 LESSER AMOUNT THAT IS SUFFICIENT TO MAKE EACH FULL PAYMENT DUE,
36 SHALL BE PAID FROM ANY LEGALLY AVAILABLE MONEY UNDER THE
37 CONTROL OF THE TRANSPORTATION COMMISSION SOLELY FOR THE
38 PURPOSE OF ALLOWING THE CONSTRUCTION, SUPERVISION, AND
39 MAINTENANCE OF STATE HIGHWAYS TO BE FUNDED WITH THE PROCEEDS
40 OF LEASE-PURCHASE AGREEMENTS AS SPECIFIED IN SUBSECTION (4)(b) OF
41 THIS SECTION AND SECTION 43-4-206 (1)(b)(V); AND
42 SECTION 4. In Colorado Revised Statutes, 40-1-103.3, amend
43 (2) as follows:
44 40-1-103.3. Alternative fuel vehicles - definition. (2) For the
45 purposes of articles 1 to 7 of this title TITLE 40, persons generating
46 electricity for use in alternative fuel vehicle charging or fueling facilities
47 as authorized by subsection (4) of this section, persons reselling
48 electricity supplied by a public utility, or persons reselling compressed or
49 liquefied natural gas, liquefied petroleum gas, or any component parts or
50 by-products to governmental entities or to the public for use as fuel in
51 alternative fuel vehicles or buying electricity stored in such vehicles for
52 resale are not subject to regulation as a public utility. Electric and natural
53 gas public utilities may provide the services described in this subsection
54 (2) as unregulated OR REGULATED services. and these unregulated services
55 may not be subsidized by the regulated services of the electric or natural
56 gas public utility. THE PUBLIC UTILITIES COMMISSION SHALL CONSIDER
1 WHETHER SUCH INVESTMENTS ARE IN THE PUBLIC INTEREST, IMPROVE
2 ASSET UTILIZATION AND SYSTEM OPERATION, STIMULATE INNOVATION
3 AND COMPETITION, INCREASE ACCESS TO ALTERNATIVE FUELS, AND
4 PROVIDE FUEL COST SAVINGS.
5 SECTION 5. In Colorado Revised Statutes, 42-3-304, amend
6 (25)(a) as follows:
7 42-3-304. Registration fees - passenger and passenger-mile
8 taxes - clean screen fund - definitions - repeal. (25) (a) In addition to
9 any other fee imposed by this section, each authorized agent shall
10 annually collect a fee of fifty ONE HUNDRED dollars at the time of
11 registration on every plug-in electric motor vehicle. The authorized agent
12 shall transmit the fee to the state treasurer, who shall credit thirty SIXTY
13 dollars of each fee to the highway users tax fund created in section
14 43-4-201, and twenty FORTY dollars of each fee to the electric vehicle
15 grant fund created in section 24-38.5-103.
16 SECTION 6. In Colorado Revised Statutes, add 43-2-151 as
17 follows:
18 43-2-151. Managed lanes - study by department of
19 transportation - repeal. (1) THE DEPARTMENT OF TRANSPORTATION
20 SHALL CONDUCT OR CONTRACT WITH AN INDEPENDENT THIRD PARTY TO
21 CONDUCT A DATA DRIVEN STUDY OF THE USE OF MANAGED LANES
22 THROUGHOUT THE STATE. THE STUDY SHALL, AT A MINIMUM:
23 (a) REPORT ON THE NUMBER OF MANAGED LANES AND THE TOTAL
24 LANE MILES OF MANAGED LANES IN THE STATE;
25 (b) DESCRIBE HOW MANAGED LANES ARE BEING USED TO FINANCE
26 HIGHWAY PROJECTS AND, WITH RESPECT TO ANY PROJECT FINANCED IN
27 WHOLE OR IN PART THROUGH THE USE OF MANAGED LANES, WHETHER THE
28 PROJECT WOULD OR COULD HAVE BEEN COMPLETED WITHOUT THE USE OF
29 MANAGED LANES;
30 (c) IDENTIFY AND QUANTIFY THE STATEWIDE, REGIONAL AND
31 TRANSPORTATION CORRIDOR-SPECIFIC IMPACTS OF MANAGED LANES ON
32 TRAFFIC CONGESTION; AND
33 (d) QUANTIFY THE NUMBER OF TRIPS MADE ON MANAGED LANES
34 BY DIFFERENT TYPES OF MOTOR VEHICLES INCLUDING BUT NOT LIMITED TO
35 TRANSIT VEHICLES, COMMERCIAL VEHICLES, HIGH-OCCUPANCY VEHICLES,
36 AND SINGLE OCCUPANT VEHICLES.
37 (2) THE DEPARTMENT SHALL REPORT THE RESULTS OF THE STUDY
38 AS PART OF ITS 2018 PRESENTATION TO THE JOINT LEGISLATIVE
39 COMMITTEE OF REFERENCE THAT IS ASSIGNED TO OVERSEE THE
40 DEPARTMENT MADE PURSUANT TO SECTION 2-7-203 (2)(a).
41 (3) THIS SECTION IS REPEALED, EFFECTIVE JULY 1, 2019.
42 SECTION 7. In Colorado Revised Statutes, 43-4-205, add (6.4)
43 as follows:
44 43-4-205. Allocation of fund. (6.4) MONEY TRANSFERRED FROM
45 THE GENERAL FUND TO THE HIGHWAY USERS TAX FUND PURSUANT TO
46 SECTION 24-75-219 (5)(a)(II) AND (5)(b)(II) IS ALLOCATED AND EXPENDED
47 AS FOLLOWS:
48 (a) FIFTY PERCENT OF THE MONEY IS PAID TO THE COUNTY
49 TREASURERS OF THE RESPECTIVE COUNTIES, SUBJECT TO ANNUAL
50 APPROPRIATION BY THE GENERAL ASSEMBLY, AND ALLOCATED AND
51 EXPENDED AS PROVIDED IN SECTION 43-4-207; AND
52 (b) FIFTY PERCENT OF THE MONEY IS PAID TO THE CITIES AND
53 INCORPORATED TOWNS, SUBJECT TO ANNUAL APPROPRIATION BY THE
54 GENERAL ASSEMBLY, AND ALLOCATED AND EXPENDED AS PROVIDED IN
55 SECTIONS 43-4-208 (2) AND (6)(a).
56
1 SECTION 8. In Colorado Revised Statutes, 43-4-206, amend (1)
2 introductory portion, (2)(b) introductory portion, (2)(b)(III), and
3 (2)(b)(IV) as follows:
4 43-4-206. State allocation. (1) Except as otherwise provided in
5 subsections (1)(a)(V), SUBSECTIONS (1)(b)(V), (2), and (3) of this section,
6 after paying the costs of the Colorado state patrol and any other costs of
7 the department, exclusive of highway construction, highway
8 improvements, or highway maintenance, that are appropriated by the
9 general assembly, money in the highway users tax fund shall be paid to
10 the state highway fund and expended for the following purposes:
11 (2) (b) Beginning in 1998, the department of transportation shall
12 report annually to the transportation committee of the senate and the
13 transportation and energy committee of the house of representatives
14 concerning the revenue expended by the department pursuant to
15 subsection (2)(a) of this section and, beginning in 2018, any 2019, ANY
16 STATE GENERAL FUND MONEY THAT IS CREDITED TO THE STATE HIGHWAY
17 FUND PURSUANT TO SECTION 24-75-219 (5), ANY NET proceeds of
1303 18 lease-purchase agreements executed as required by section 24-82-
19 (2)(a) that are credited to the state highway fund pursuant to section
20 24-82-1303 (4)(b) and expended by the department pursuant to subsection
21 (1)(b)(V) of this section, AND ANY NET PROCEEDS OF TRANSPORTATION
22 REVENUE ANTICIPATION NOTES ISSUED AS AUTHORIZED BY A BALLOT ISSUE
23 SUBMITTED TO AND APPROVED BY THE REGISTERED ELECTORS OF THE
705 24 STATE AT THE 2019 STATEWIDE ELECTION PURSUANT TO SECTION 43-4-
25 (13)(b) THAT ARE CREDITED TO THE STATE HIGHWAY FUND PURSUANT TO
26 THIS SECTION. The department shall present the report at the joint meeting
27 required under section 43-1-113 (9)(a), and the report shall describe for
28 each fiscal year, if applicable:
29 (III) The projected amounts of revenue and net proceeds that the
30 department expects to receive under this subsection (2), and subsection
1303 31 (1)(b)(V) of this section SECTION 24-75-219 (5), SECTION 24-82-
32 (4)(b), AND SECTION 43-4-714 (1)(a) during the fiscal year;
33 (IV) The amount of revenue and net proceeds that the department
34 has already received under this subsection (2), and subsection (1)(b)(V)
35 of this section SECTION 24-75-219 (5), SECTION 24-82-1303 (4)(b), AND
36 SECTION 43-4-714 (1)(a) during the fiscal year; and
37 SECTION 9. In Colorado Revised Statutes, 43-4-207, amend (1),
38 (2) introductory portion, and (2)(b) introductory portion as follows:
39 43-4-207. County allocation. (1) After paying the costs of the
40 Colorado state patrol and such ANY other costs of the department,
41 exclusive of highway construction, highway improvements, or highway
42 maintenance, as THAT are appropriated by the general assembly,
43 twenty-six percent of the balance of the highway users tax fund THE
44 MONEY, INCLUDING MONEY TRANSFERRED FROM THE GENERAL FUND TO
219 45 THE HIGHWAY USERS TAX FUND PURSUANT TO SECTION 24-75-
46 (5)(a)(II) AND (5)(b)(II), THAT SECTION 43-4-205 REQUIRES TO BE PAID
47 FROM THE HIGHWAY USERS TAX FUND TO THE COUNTY TREASURERS OF
48 THE RESPECTIVE COUNTIES shall be paid to the county treasurers of the
49 respective counties, subject to annual appropriation by the general
50 assembly, and shall be allocated and expended as provided in this section.
51 The moneys thus MONEY received shall be IS allocated to the counties as
52 provided by law and shall be expended by the counties only on the
53 construction, engineering, reconstruction, maintenance, repair,
54 equipment, improvement, and administration of the county highway
55 systems and any other public highways, including any state highways,
56 together with acquisition of rights-of-way and access rights for the same,
1 for the planning, designing, engineering, acquisition, installation,
2 construction, repair, reconstruction, maintenance, operation, or
3 administration of transit-related projects, including, but not limited to,
4 designated bicycle or pedestrian lanes of highway and infrastructure
5 needed to integrate different transportation modes within a multimodal
6 transportation system, and for no other purpose; except that a county may
7 expend no more than fifteen percent of the total amount expended under
8 this subsection (1) for transit-related operational purposes and except that
9 moneys MONEY received pursuant to section 43-4-205 (6.3) shall be
10 expended by the counties only for road safety projects, as defined in
11 section 43-4-803 (21). The amount to be expended for administrative
12 purposes shall not exceed five percent of each county's share of the funds
13 available.
14 (2) For the fiscal year commencing July 1, 1989, and each fiscal
15 year thereafter, for the purpose of allocating moneys MONEY in the
16 highway users tax fund to the various counties throughout the state, the
17 following method is hereby adopted:
18 (b) All moneys MONEY credited to the fund in excess of eighty-six
19 million seven hundred thousand dollars shall be AND ALL MONEY
20 TRANSFERRED TO THE FUND PURSUANT TO SECTION 24-75-219 (5)(a)(II)
21 AND (5)(b)(II) THAT IS REQUIRED BY SECTION 43-4-205 (6.4)(a) AND
22 SUBSECTION (1) OF THIS SECTION TO BE PAID TO THE COUNTY TREASURERS
23 OF THE RESPECTIVE COUNTIES IS allocated to the counties in the following
24 manner:
25 SECTION 10. In Colorado Revised Statutes, 43-4-208, amend
26 (1), (2) introductory portion, (2)(a), and (6)(a) as follows:
27 43-4-208. Municipal allocation. (1) After paying the costs of the
28 Colorado state patrol and such ANY other costs of the department,
29 exclusive of highway construction, highway improvements, or highway
30 maintenance, as THAT are appropriated by the general assembly, and
31 making allocation as provided by sections 43-4-206 and 43-4-207, the
32 remaining nine percent of the highway users tax fund THE MONEY,
33 INCLUDING MONEY TRANSFERRED FROM THE GENERAL FUND TO THE
34 HIGHWAY USERS TAX FUND PURSUANT TO SECTION 24-75-219 (5)(a)(II)
35 AND (5)(b)(II), THAT SECTION 43-4-205 REQUIRES TO BE PAID FROM THE
36 HIGHWAY USERS TAX FUND TO CITIES AND INCORPORATED TOWNS shall be
37 paid to the cities and incorporated towns within the limits of the
38 respective counties, subject to annual appropriation by the general
39 assembly, and shall be allocated and expended as provided in this section.
40 Each city treasurer shall account for the moneys thus MONEY received as
41 provided in this part 2. Moneys MONEY so allocated shall be expended by
42 the cities and incorporated towns for the construction, engineering,
43 reconstruction, maintenance, repair, equipment, improvement, and
44 administration of the system of streets of such city or incorporated town
45 or of any public highways located within such city or incorporated town,
46 including any state highways, together with the acquisition of
47 rights-of-way and access rights for the same, and for the planning,
48 designing, engineering, acquisition, installation, construction, repair,
49 reconstruction, maintenance, operation, or administration of
50 transit-related projects, including, but not limited to, designated bicycle
51 or pedestrian lanes of highway and infrastructure needed to integrate
52 different transportation modes within a multimodal transportation system,
53 and for no other purpose; except that a city or an incorporated town may
54 expend no more than fifteen percent of the total amount expended under
55 this subsection (1) for transit-related operational purposes and except that
56 moneys MONEY paid to the cities and incorporated towns pursuant to
1 section 43-4-205 (6.3) shall be expended by the cities and incorporated
2 towns only for road safety projects, as defined in section 43-4-803 (21).
3 The amount to be expended for administrative purposes shall not exceed
4 five percent of each city's share of the funds available.
5 (2) For the purpose of allocating moneys MONEY in the highway
6 users tax fund to the various cities and incorporated towns throughout the
7 state, the following method is adopted:
8 (a) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (6) OF THIS
9 SECTION, eighty percent shall be allocated to the cities and incorporated
10 towns in proportion to the adjusted urban motor vehicle registration in
11 each city and incorporated town. The term "urban motor vehicle
12 registration" includes all passenger, truck, truck-tractor, and motorcycle
13 registrations. The number of registrations used in computing the
14 percentage shall be those certified to the state treasurer by the department
15 of revenue as constituting the urban motor vehicle registration for the last
16 preceding year. The adjusted registration shall be computed by applying
17 a factor to the actual number of such registrations to reflect the increased
18 standards and costs of construction resulting from the concentration of
19 vehicles in cities and incorporated places. For this purpose the following
20 table of actual registration numbers and factors shall be employed:
21 Actual registrations Factor
22 1 -- 500 1.
1 23 501 -- 1,250 1.
2 24 1,251 -- 2,500 1.
3 25 2,501 -- 5,000 1.
4 26 5,001 -- 12,500 1.
5 27 12,501 -- 25,000 1.
6 28 25,001 -- 50,000 1.
7 29 50,001 -- 85,000 1.
8 30 85,001 -- 130,000 1.
9 31 130,001 -- 185,000 1.
32 185,001 and over 2.
33 (6) (a) In addition to the provisions of subsection (2)(a) of this
34 section, on or after July 1, 1979, eighty percent of all additional funds
35 MONEY becoming available to cities and incorporated towns from the
36 highway users tax fund pursuant to sections 24-75-215 C.R.S., and
37 43-4-205 (6)(b)(III) shall be AND, ON AND AFTER JULY 1, 2018, EIGHTY
38 PERCENT OF THE GENERAL FUND MONEY TRANSFERRED FROM THE
39 GENERAL FUND TO THE HIGHWAY USERS TAX FUND PURSUANT TO SECTION
40 24-75-219 (5)(a)(II) AND (5)(b)(II) THAT IS REQUIRED BY SECTION
41 43-4-205 (6.4)(b) AND SUBSECTION (1) OF THIS SECTION TO BE ALLOCATED
42 TO THE CITIES AND INCORPORATED TOWNS IS allocated to the cities and
43 incorporated towns in proportion to the adjusted urban motor vehicle
44 registration in each city and incorporated town. The term "urban motor
45 vehicle registration", as used in this section, includes all passenger, truck,
46 truck-tractor, and motorcycle registrations. The number of registrations
47 used in computing the percentage shall be those certified to the state
48 treasurer by the department of revenue as constituting the urban motor
49 vehicle registration for the last preceding year. The adjusted registration
50 shall be computed by applying a factor to the actual number of such
51 registrations to reflect the increased standards and costs of construction
52 resulting from the concentration of vehicles in cities and incorporated
53 places. For this purpose the following table of actual registration numbers
54 and factors shall be employed:
55 Actual registrations Factor
56 1 -- 500 1.
1 1 501 -- 1,250 1.
2 2 1,251 -- 2,500 1.
3 3 2,501 -- 5,000 1.
4 4 5,001 -- 12,500 1.
5 5 12,501 -- 25,000 1.
6 6 25,001 -- 50,000 1.
7 7 50,001 -- 85,000 1.
8 8 85,001 -- 125,000 1.
9 9 125,001 -- 165,000 1.
10 165,001 -- 205,000 2.
1 11 205,001 -- 245,000 2.
2 12 245,001 -- 285,000 2.
3 13 285,001 -- 325,000 2.
4 14 325,001 -- 365,000 2.
5 15 365,001 -- 405,000 2.
6 16 405,001 -- 445,000 2.
7 17 445,001 -- 485,000 2.
8 18 485,001 -- 525,000 2.
9 19 525,001 -- 565,000 2.
20 565,001 -- 605,000 3.
21 SECTION 11. In Colorado Revised Statutes, 43-4-702, repeal
22 (7); and add (9) as follows:
23 43-4-702. Definitions. As used in this part 7, unless the context
24 otherwise requires:
25 (7) "Revenue anticipation notes" or "notes" means revenue
26 anticipation notes authorized by and issued in accordance with this part
27 7.
28 (9) "TRANSPORTATION REVENUE ANTICIPATION NOTES", "REVENUE
29 ANTICIPATION NOTES", OR "NOTES" MEANS REVENUE ANTICIPATION NOTES
30 AUTHORIZED BY AND ISSUED IN ACCORDANCE WITH THIS PART 7.
31 SECTION 12. In Colorado Revised Statutes, 43-4-705, amend
32 (2)(a)(II) and (13); and add (2)(a)(II.5) as follows:
33 43-4-705. Revenue anticipation notes - repeal. (2) (a) Subject
34 to the provisions of this subsection (2), the principal of and interest on
35 revenue anticipation notes and any costs associated with the issuance and
36 administration of such notes shall be payable solely from:
37 (II) Any proceeds of such notes and any earnings from the
38 investment of such note proceeds pledged for such purpose; and
39 (II.5) MONEY TRANSFERRED FROM THE GENERAL FUND TO THE
40 STATE HIGHWAY FUND PURSUANT TO SECTION 24-75-219 (5)(c); AND
7 41 (13) (a) Notwithstanding any other provision of this part
42 to the contrary, the executive director shall have the authority to issue
43 revenue anticipation notes pursuant to this part 7 only if voters statewide
44 approve the ballot question submitted at the November 1999 statewide
45 election pursuant to section 43-4-703 (1) and only then to the extent
46 allowed under the maximum amounts of debt and repayment cost so
47 approved.
48 (b) (I) SUBJECT TO VOTER APPROVAL OF THE BALLOT ISSUE
49 SUBMITTED AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO
50 SUBSECTION (13)(b)(III) OF THIS SECTION AND THE REPAYMENT FUNDING
51 COMMITMENT REQUIREMENT SPECIFIED IN SUBSECTION (13)(b)(II) OF THIS
52 SECTION, THE EXECUTIVE DIRECTOR SHALL ISSUE ADDITIONAL
53 TRANSPORTATION REVENUE ANTICIPATION NOTES IN A MAXIMUM AMOUNT
54 OF TWO BILLION THREE HUNDRED THIRTY-SEVEN MILLION DOLLARS AND
55 WITH A MAXIMUM REPAYMENT COST OF THREE BILLION TWO HUNDRED
56 FIFTY MILLION DOLLARS. THE MAXIMUM REPAYMENT TERM FOR ANY
1 NOTES ISSUED PURSUANT TO THIS SUBSECTION (13)(b) IS TWENTY YEARS,
2 AND THE CERTIFICATE, TRUST INDENTURE, OR OTHER INSTRUMENT
3 AUTHORIZING THEIR ISSUANCE SHALL PROVIDE THAT THE STATE MAY PAY
4 THE NOTES IN FULL WITHOUT PENALTY NO LATER THAN TEN YEARS
5 FOLLOWING THE DATE OF ISSUANCE.
6 (II) NOTWITHSTANDING SECTION 43-1-113 (19) AND SUBSECTION
7 (12)(a) OF THIS SECTION, BEFORE ISSUING ANY REVENUE ANTICIPATION
8 NOTES AS AUTHORIZED BY SUBSECTION (13)(b)(I) OF THIS SECTION, THE
9 TRANSPORTATION COMMISSION SHALL ADOPT A RESOLUTION IN WHICH IT
10 AGREES, SUBJECT TO THE REQUIREMENTS OF SECTION 43-4-706 (2), THAT
11 IT INTENDS TO ANNUALLY ALLOCATE FROM LEGALLY AVAILABLE MONEY
12 UNDER ITS CONTROL ANY AMOUNT NEEDED FOR PAYMENT OF THE NOTES
13 UNTIL THE NOTES ARE FULLY REPAID. THE COMMISSION SHALL FIRST
14 ALLOCATE FOR PAYMENT OF THE NOTES MONEY TRANSFERRED FROM THE
15 GENERAL FUND TO THE STATE HIGHWAY FUND PURSUANT TO SECTION
16 24-75-219 (5)(b) AND ANY MONEY ALLOCATED BY THE COMMISSION FROM
17 THE TRANSPORTATION REVENUE ANTICIPATION NOTES RESERVE ACCOUNT
18 CREATED IN SECTION 43-4-714 (2) AND THEREAFTER SHALL ALLOCATE FOR
19 PAYMENT OF THE NOTES ANY OTHER LEGALLY AVAILABLE MONEY UNDER
20 ITS CONTROL.
21 (III) THE SECRETARY OF STATE SHALL SUBMIT TO THE REGISTERED
22 ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION AT THE
23 NOVEMBER 2019 STATEWIDE ELECTION THE FOLLOWING BALLOT ISSUE:
24 "SHALL STATE OF COLORADO DEBT BE INCREASED $2,337,000,000, WITH
25 A MAXIMUM REPAYMENT COST OF $3,250,000,000, WITHOUT RAISING
26 TAXES, THROUGH THE ISSUANCE OF TRANSPORTATION REVENUE
27 ANTICIPATION NOTES FOR THE PURPOSE OF ADDRESSING CRITICAL
28 PRIORITY TRANSPORTATION NEEDS IN THE STATE BY FINANCING
29 TRANSPORTATION PROJECTS, SHALL NOTE PROCEEDS, INVESTMENT
30 EARNINGS ON NOTE PROCEEDS, AND REVENUE FROM AN ELECTRIC MOTOR
31 VEHICLE REGISTRATION FEE INCREASE BE EXCLUDED FROM STATE FISCAL
32 YEAR SPENDING LIMITS, AND SHALL THE AMOUNT OF LEASE-PURCHASE
33 AGREEMENTS REQUIRED BY CURRENT LAW TO BE ISSUED FOR THE PURPOSE
34 OF FINANCING TRANSPORTATION PROJECTS BE REDUCED?"
35 (IV) NO LATER THAN MAY 1, 2019, THE DEPARTMENT SHALL
36 PROVIDE TO THE DIRECTOR OF RESEARCH OF THE LEGISLATIVE COUNCIL
37 THE MOST RECENT AVAILABLE LIST OF QUALIFIED FEDERAL AID
38 TRANSPORTATION PROJECTS, INCLUDING MULTIMODAL CAPITAL PROJECTS,
39 THAT ARE DESIGNATED FOR TIER 1 FUNDING AS TEN-YEAR DEVELOPMENT
40 PROGRAM PROJECTS ON THE DEPARTMENT'S 2019 DEVELOPMENT PROGRAM
41 PROJECT LIST AND THAT THE DEPARTMENT WILL FUND WITH PROCEEDS OF
42 ANY TRANSPORTATION REVENUE ANTICIPATION NOTES ISSUED AS
43 AUTHORIZED BY THIS SUBSECTION (13)(b). IN ORDER TO FULLY INFORM
44 THE VOTERS OF THE STATE CONCERNING THE PROJECTS TO BE FUNDED
45 WITH PROCEEDS OF ANY SUCH ADDITIONAL TRANSPORTATION REVENUE
46 ANTICIPATION NOTES BEFORE THE VOTERS VOTE ON THE BALLOT QUESTION
47 SPECIFIED IN SUBSECTION (13)(b)(III) OF THIS SECTION, THE DIRECTOR OF
48 RESEARCH SHALL PUBLISH THE LIST, INCLUDING ANY SUBSEQUENT
49 UPDATES TO THE LIST MADE BEFORE FINAL APPROVAL BY THE LEGISLATIVE
50 COUNCIL OF THE 2019 BALLOT INFORMATION BOOKLET PREPARED
51 PURSUANT TO SECTION 1-40-124.5, WHICH UPDATES THE DEPARTMENT
52 SHALL EXPEDITIOUSLY PROVIDE TO THE DIRECTOR OF RESEARCH, IN THE
53 BALLOT INFORMATION BOOKLET.
54 (V) (A) THIS SUBSECTION (13)(b) IS REPEALED, EFFECTIVE
55 JANUARY 1, 2019, IF A CITIZEN-INITIATED BALLOT ISSUE THAT AUTHORIZES
56 THE STATE TO ISSUE TRANSPORTATION REVENUE ANTICIPATION NOTES IS
1 SUBMITTED TO THE REGISTERED ELECTORS OF THE STATE FOR THEIR
2 APPROVAL OR REJECTION AT THE NOVEMBER 2018 GENERAL ELECTION
3 AND A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
4 "YES/FOR".
5 (B) THIS SUBSECTION (13)(b) IS REPEALED, EFFECTIVE JANUARY
6 1, 2020, IF A MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE IN
7 SUBSECTION (13)(b)(III) OF THIS SECTION VOTE "NO/AGAINST".
8 (C) THIS SUBSECTION (13)(b)(V) IS REPEALED, EFFECTIVE
9 JANUARY 1, 2020, IF A MAJORITY OF THE ELECTORS VOTING ON THE
10 BALLOT ISSUE IN SUBSECTION (13)(b)(III) OF THIS SECTION VOTE
11 "YES/FOR".
12 SECTION 13. In Colorado Revised Statutes, amend 43-4-714 as
13 follows:
14 43-4-714. Use of note proceeds - repeal. (1) If the executive
15 director issues any revenue anticipation notes in accordance with the
16 provisions of this part 7, the proceeds from the sale of such notes that are
17 not otherwise pledged for the payment of such notes shall be used for the
18 qualified federal aid transportation projects included in the strategic
19 transportation project investment program of the department of
20 transportation. NET PROCEEDS FROM THE SALE OF ANY TRANSPORTATION
21 REVENUE ANTICIPATION NOTES THAT THE EXECUTIVE DIRECTOR ISSUES
22 PURSUANT TO SECTION 43-4-705 (13)(b) THAT ARE NOT OTHERWISE
23 PLEDGED FOR THE PAYMENT OF THE NOTES SHALL BE ALLOCATED AS
24 FOLLOWS:
25 (a) EIGHTY-FIVE PERCENT OF THE NET PROCEEDS SHALL BE
219 26 CREDITED TO THE STATE HIGHWAY FUND CREATED IN SECTION 43-1-
27 AND EXPENDED BY THE DEPARTMENT ONLY FOR QUALIFIED FEDERAL AID
28 TRANSPORTATION PROJECTS THAT ARE INCLUDED IN THE STRATEGIC
29 TRANSPORTATION PROJECT INVESTMENT PROGRAM OF THE DEPARTMENT
30 OF TRANSPORTATION AND THAT ARE DESIGNATED FOR TIER 1 FUNDING AS
31 TEN-YEAR DEVELOPMENT PROGRAM PROJECTS ON THE DEPARTMENT'S
32 DEVELOPMENT PROGRAM PROJECT LIST, WITH AT LEAST TWENTY-FIVE
33 PERCENT OF THE NET PROCEEDS OF TRANSPORTATION REVENUE
34 ANTICIPATION NOTES THAT ARE CREDITED TO THE STATE HIGHWAY FUND
35 BEING USED FOR PROJECTS THAT ARE LOCATED IN COUNTIES WITH
36 POPULATIONS OF FIFTY THOUSAND OR LESS AS OF JULY 2015 AS REPORTED
37 BY THE STATE DEMOGRAPHY OFFICE OF THE DEPARTMENT OF LOCAL
38 AFFAIRS.
39 (b) FIFTEEN PERCENT OF THE NET PROCEEDS SHALL BE CREDITED
40 TO THE TRANSPORTATION REVENUE ANTICIPATION NOTES PROCEEDS
41 ACCOUNT OF THE MULTIMODAL TRANSPORTATION OPTIONS FUND CREATED
42 IN SECTION 43-4-1103 (1).
43 (2) (a) THE TRANSPORTATION REVENUE ANTICIPATION NOTES
44 RESERVE ACCOUNT IS HEREBY CREATED IN THE STATE HIGHWAY FUND.
45 THE STATE TREASURER SHALL CREDIT A PORTION OF THE MONEY
46 TRANSFERRED FROM THE GENERAL FUND TO THE STATE HIGHWAY FUND
47 PURSUANT TO SECTION 24-75-219 (5)(c)(IV)(A) TO THE RESERVE
48 ACCOUNT AS FOLLOWS:
49 (I) ON JUNE 30, 2020, SEVENTY-FIVE MILLION NINE HUNDRED
50 FIFTY-TWO THOUSAND FIVE HUNDRED DOLLARS; AND
51 (II) ON JUNE 30, 2021, SEVENTY-FIVE MILLION NINE HUNDRED
52 FIFTY-TWO THOUSAND FIVE HUNDRED DOLLARS.
53 (b) DURING ANY STATE FISCAL YEAR FOR WHICH THERE IS A
54 GENERAL FUND REVENUE SHORTFALL AND THE GOVERNOR FORMULATES
55 AND IMPLEMENTS A PLAN TO REDUCE GENERAL FUND EXPENDITURES AS
56 REQUIRED BY SECTION 24-75-201.5, THE TRANSPORTATION COMMISSION,
1 IN CONSULTATION WITH THE GOVERNOR, MAY ALLOCATE MONEY FROM
2 THE ACCOUNT FOR THE SOLE PURPOSE OF PAYING ALL OR A PORTION OF
3 ANY PAYMENT ON TRANSPORTATION REVENUE ANTICIPATION NOTES DUE
4 DURING THE STATE FISCAL YEAR. IN ADDITION, THE COMMISSION MAY
5 ALLOCATE MONEY FROM THE ACCOUNT AT ANY TIME IF DOING SO WILL
6 ALLOW THE COMMISSION TO FULLY REPAY THE NOTES. ONCE ALL
7 TRANSPORTATION REVENUE ANTICIPATION NOTES ARE REPAID IN FULL, THE
8 STATE TREASURER SHALL TRANSFER ANY MONEY REMAINING IN THE
9 ACCOUNT TO THE STATE HIGHWAY FUND.
10 (3) (a) THIS SECTION IS REPEALED:
11 (I) EFFECTIVE JANUARY 1, 2019, IF A BALLOT ISSUE INITIATED BY
12 PRIVATE CITIZENS THAT AUTHORIZES THE STATE TO ISSUE
13 TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
14 REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
15 AT THE NOVEMBER 2018 GENERAL ELECTION AND A MAJORITY OF THE
16 ELECTORS VOTING ON THE BALLOT ISSUE VOTE "YES/FOR".
17 (II) EFFECTIVE JANUARY 1, 2020, IF A BALLOT ISSUE THAT
18 AUTHORIZES THE STATE TO ISSUE TRANSPORTATION REVENUE
19 ANTICIPATION NOTES IS SUBMITTED TO THE REGISTERED ELECTORS OF THE
2019 20 STATE FOR THEIR APPROVAL OR REJECTION AT THE NOVEMBER
21 STATEWIDE ELECTION PURSUANT TO SECTION 43-4-705 (13)(b) AND A
22 MAJORITY OF THE ELECTORS VOTING ON THE BALLOT ISSUE VOTE
23 "NO/AGAINST".
24 (b) THIS SUBSECTION (3) IS REPEALED, EFFECTIVE JANUARY 1,
25 2020, IF A BALLOT ISSUE THAT AUTHORIZES THE STATE TO ISSUE
26 TRANSPORTATION REVENUE ANTICIPATION NOTES IS SUBMITTED TO THE
27 REGISTERED ELECTORS OF THE STATE FOR THEIR APPROVAL OR REJECTION
28 AT THE NOVEMBER 2019 STATEWIDE ELECTION PURSUANT TO SECTION
29 43-4-705 (13)(b) AND A MAJORITY OF THE ELECTORS VOTING ON THE
30 BALLOT ISSUE VOTE "YES/FOR".
31 SECTION 14. In Colorado Revised Statutes, add part 11 to article
32 4 of title 43 as follows:
11 33 PART
34 MULTIMODAL TRANSPORTATION OPTIONS FUNDING
35 43-4-1101. Legislative declaration. (1) THE GENERAL ASSEMBLY
36 HEREBY FINDS AND DECLARES THAT IT IS NECESSARY, APPROPRIATE, AND
37 IN THE BEST INTEREST OF THE STATE TO USE A PORTION OF THE GENERAL
38 FUND MONEY THAT IS DEDICATED FOR TRANSPORTATION PURPOSES
39 PURSUANT TO SECTION 24-75-219 (5) TO FUND MULTIMODAL
40 TRANSPORTATION PROJECTS AND OPERATIONS THROUGHOUT THE STATE AS
41 AUTHORIZED BY THIS PART 11 BECAUSE, IN ADDITION TO THE GENERAL
42 BENEFITS THAT IT PROVIDES TO ALL COLORADANS, A COMPLETE AND
43 INTEGRATED MULTIMODAL TRANSPORTATION SYSTEM:
44 (a) BENEFITS SENIORS BY MAKING AGING IN PLACE MORE FEASIBLE
45 FOR THEM;
46 (b) BENEFITS RESIDENTS OF RURAL AREAS BY PROVIDING THEM
47 WITH FLEXIBLE PUBLIC TRANSPORTATION SERVICES;
48 (c) PROVIDES ENHANCED MOBILITY FOR PERSONS WITH
49 DISABILITIES; AND
50 (d) PROVIDES SAFE ROUTES TO SCHOOLS FOR CHILDREN.
51 43-4-1102. Definitions. AS USED IN THIS PART 11, UNLESS THE
52 CONTEXT OTHERWISE REQUIRES:
53 (1) "ACCOUNT" MEANS THE TRANSPORTATION REVENUE
54 ANTICIPATION NOTES PROCEEDS ACCOUNT OF THE MULTIMODAL
55 TRANSPORTATION OPTIONS FUND CREATED IN SECTION 43-4-1103 (1)(b).
56 (2) "COMMISSION" MEANS THE TRANSPORTATION COMMISSION
1 CREATED IN SECTION 43-1-106 (1).
2 (3) "DEPARTMENT" MEANS THE DEPARTMENT OF
3 TRANSPORTATION.
4 (4) "FUND" MEANS THE MULTIMODAL TRANSPORTATION OPTIONS
5 FUND CREATED IN SECTION 43-4-1103 (1)(a).
6 (5) "MULTIMODAL PROJECTS" MEANS CAPITAL OR OPERATING
7 COSTS FOR FIXED ROUTE AND ON-DEMAND TRANSIT, TRANSPORTATION
8 DEMAND MANAGEMENT PROGRAMS, MULTIMODAL MOBILITY PROJECTS
9 ENABLED BY NEW TECHNOLOGY, MULTIMODAL TRANSPORTATION STUDIES,
10 AND BICYCLE OR PEDESTRIAN PROJECTS.
11 43-4-1103. Multimodal transportation options fund and
12 transportation revenue anticipation notes proceeds account of fund
13 - creation - revenue sources for fund - use of fund - limitations on use
14 of tax-exempt note proceeds. (1) (a) THE MULTIMODAL
15 TRANSPORTATION OPTIONS FUND IS HEREBY CREATED IN THE STATE
16 TREASURY. THE FUND CONSISTS OF MONEY TRANSFERRED FROM THE
17 GENERAL FUND TO THE FUND PURSUANT TO SECTION 24-75-219 (5)(a)(III)
18 AND (5)(b)(III) AND ANY OTHER MONEY THAT THE GENERAL ASSEMBLY
19 MAY APPROPRIATE OR TRANSFER TO THE FUND. THE STATE TREASURER
20 SHALL CREDIT ALL INTEREST AND INCOME DERIVED FROM THE DEPOSIT
21 AND INVESTMENT OF MONEY IN THE FUND TO THE FUND.
22 (b) THE TRANSPORTATION REVENUE ANTICIPATION NOTES
23 PROCEEDS ACCOUNT IS HEREBY CREATED IN THE FUND. ANY NET
24 PROCEEDS OF TRANSPORTATION REVENUE ANTICIPATION NOTES THAT THE
25 STATE ISSUES SHALL BE CREDITED TO THE ACCOUNT. THE STATE
26 TREASURER SHALL CREDIT ALL INTEREST AND INCOME DERIVED FROM THE
27 DEPOSIT AND INVESTMENT OF MONEY IN THE ACCOUNT TO THE ACCOUNT.
28 (2) (a) (I) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION
29 (2)(a)(II) OF THIS SECTION, SUBJECT TO ANNUAL APPROPRIATION BY THE
30 GENERAL ASSEMBLY, MONEY MUST BE EXPENDED FROM THE FUND AS
31 FOLLOWS:
32 (A) EIGHTY-FIVE PERCENT TO THE COMMISSION FOR LOCAL
33 MULTIMODAL PROJECTS; AND
34 (B) FIFTEEN PERCENT TO THE COMMISSION FOR STATE
35 MULTIMODAL PROJECTS THAT ARE SELECTED BY THE COMMISSION.
36 (II) ON JULY 1, 2018, THE STATE TREASURER SHALL TRANSFER
37 TWO MILLION FIVE HUNDRED THOUSAND DOLLARS FROM THE FUND TO THE
38 FUND CREATED IN SECTION 43-4-1002 (1).
39 (b) (I) SUBJECT TO THE LIMITATIONS SET FORTH IN SUBSECTION
40 (2)(b)(II) OF THIS SECTION, MONEY MUST BE EXPENDED FROM THE
41 ACCOUNT AS FOLLOWS:
42 (A) EIGHTY-FIVE PERCENT TO THE COMMISSION FOR LOCAL
43 MULTIMODAL PROJECTS; AND
44 (B) FIFTEEN PERCENT TO THE COMMISSION FOR STATE
45 MULTIMODAL PROJECTS THAT ARE SELECTED BY THE COMMISSION.
46 (II) THE COMMISSION SHALL ENSURE, IN COOPERATION WITH EACH
47 RECIPIENT OF SUCH MONEY FROM THE ACCOUNT, THAT ANY NET PROCEEDS
48 OF TAX-EXEMPT TRANSPORTATION REVENUE ANTICIPATION NOTES
49 CREDITED TO THE ACCOUNT AND ANY INTEREST AND INCOME DERIVED
50 FROM THE DEPOSIT AND INVESTMENT OF ANY SUCH PROCEEDS ARE
51 EXPENDED ONLY IN COMPLIANCE WITH ALL APPLICABLE FEDERAL LAWS
52 AND REGULATIONS GOVERNING THE USE OF TAX-EXEMPT NOTE PROCEEDS.
53 (c) WITH RESPECT TO THE DISTRIBUTION OF MONEY FOR LOCAL
54 MULTIMODAL PROJECTS REQUIRED BY SUBSECTION (2)(a)(I)(A) OF THIS
55 SECTION AND, FOR NET PROCEEDS OF TAXABLE TRANSPORTATION REVENUE
56 ANTICIPATION NOTES AND INTEREST AND INCOME DERIVED FROM THE
1 DEPOSIT AND INVESTMENT OF SUCH PROCEEDS ONLY, THE DISTRIBUTION
2 OF MONEY FOR LOCAL MULTIMODAL PROJECTS REQUIRED BY SUBSECTION
3 (2)(b)(I)(A) OF THIS SECTION, THE COMMISSION SHALL ESTABLISH A
4 FORMULA FOR DISBURSEMENT OF THE AMOUNT ALLOCATED FOR LOCAL
5 MULTIMODAL PROJECTS, BASED ON POPULATION AND TRANSIT RIDERSHIP,
6 IN CONSULTATION WITH THE TRANSPORTATION ADVISORY COMMITTEE
7 CREATED IN SECTION 43-1-1104, THE TRANSIT AND RAIL ADVISORY
8 COMMITTEE OF THE DEPARTMENT, TRANSIT ADVOCACY ORGANIZATIONS,
9 AND BICYCLE AND PEDESTRIAN ADVOCACY ORGANIZATIONS. RECIPIENTS
10 SHALL PROVIDE A MATCH EQUAL TO THE AMOUNT OF THE AWARD; EXCEPT
11 THAT THE COMMISSION MAY CREATE A FORMULA FOR REDUCING OR
12 EXEMPTING THE MATCH REQUIREMENT FOR LOCAL GOVERNMENTS OR
13 AGENCIES DUE TO THEIR SIZE OR ANY OTHER SPECIAL CIRCUMSTANCES.
14 (3) (a) THE DEPARTMENT SHALL ANNUALLY REPORT TO THE
15 TRANSPORTATION LEGISLATION REVIEW COMMITTEE OF THE GENERAL
16 ASSEMBLY CREATED IN SECTION 43-2-145 (1) REGARDING ITS
17 EXPENDITURES FROM THE FUND AND THE ACCOUNT INCLUDING, AT A
18 MINIMUM:
19 (I) AN AGGREGATE ACCOUNTING OF ALL MONEY EXPENDED FROM
20 THE FUND AND THE ACCOUNT DURING THE PRIOR FISCAL YEAR; AND
21 (II) A LISTING OF ALL PROJECTS RECEIVING FUNDING FROM THE
22 FUND AND THE ACCOUNT DURING THE PRIOR FISCAL YEAR THAT INCLUDES
23 FOR EACH PROJECT:
24 (A) IDENTIFICATION OF THE ENTITY RECEIVING FUNDING FOR THE
25 PROJECT;
26 (B) THE AMOUNT OF FUNDING PROVIDED FOR THE PROJECT; AND
27 (C) THE AMOUNT OF LOCAL MATCHING MONEY PROVIDED FOR THE
28 PROJECT.
29 (b) NOTWITHSTANDING SECTION 24-1-136 (11)(a), THE REPORTING
30 REQUIREMENT SPECIFIED IN SUBSECTION (3)(a) OF THIS SECTION
31 CONTINUES INDEFINITELY.
32 SECTION 15. Effective date - applicability. (1) Except as
33 otherwise provided in subsections (2) and (3) of this section, this act takes
34 effect upon passage.
35 (2) Section 3 of this act takes effect only if either:
36 (a) A citizen-initiated ballot issue that authorizes the state to issue
37 transportation revenue anticipation notes but does not authorize the state
38 to collect additional tax revenue for the purpose of providing a revenue
39 source for repayment of the notes is submitted to the registered electors
40 of the state for their approval or rejection at the November 2018 general
41 election and a majority of the electors voting on the ballot issue vote
42 "Yes/For", and, in such case, section 3 of this act takes effect on the date
43 of the official declaration of the vote thereon by the governor; or
44 (b) A ballot issue that authorizes the state to issue transportation
45 revenue anticipation notes is submitted to the registered electors of the
46 state for their approval or rejection at the November 2019 statewide
47 election pursuant to section 43-4-705 (13)(b), Colorado Revised Statutes,
48 enacted in section 12 of this act, and a majority of the electors voting on
49 the ballot issue vote "Yes/For", and, in such case, section 3 of this act
50 takes effect on the date of the official declaration of the vote thereon by
51 the governor.
52 (3) Section 5 of this act takes effect only if a ballot issue that
53 authorizes the state to issue transportation revenue anticipation notes is
54 submitted to the registered electors of the state for their approval or
55 rejection at the November 2019 statewide election pursuant to section
56 43-4-705 (13)(b), Colorado Revised Statutes, enacted in section 12 of this
1 act, and a majority of the electors voting on the ballot issue vote
2 "Yes/For", and, in such case, section 5 of this act takes effect on the date
3 of the official declaration of the vote thereon by the governor.
4 SECTION 17. Safety clause. The general assembly hereby finds,
5 determines, and declares that this act is necessary for the immediate
6 preservation of the public peace, health, and safety.".
7
8 Page 1, strike lines 103 through 108 and substitute "AMOUNTS TO BE
9 TRANSFERRED FROM THE GENERAL FUND TO THE STATE HIGHWAY
10 FUND, THE HIGHWAY USERS TAX FUND, AND A NEW MULTIMODAL
19 11 TRANSPORTATION OPTIONS FUND DURING STATE FISCAL YEARS 2018-
12 AND 2019-20 FOR THE PURPOSE OF FUNDING TRANSPORTATION
13 PROJECTS AND TO THE STATE HIGHWAY FUND DURING ANY STATE
14 FISCAL YEAR FROM 2019-20 THROUGH 2038-39 FOR STATE HIGHWAY
15 PURPOSES AND TO REPAY ANY TRANSPORTATION".
16
17 Page 2, line 105, strike "TAXES OR FEES," and substitute "TAXES,".
18
19 Page 2, line 109, strike "PROCEEDS AND" and substitute "PROCEEDS,".
20
21 Page 2, line 110, strike "PROCEEDS" and substitute "PROCEEDS, AND
22 REVENUE FROM AN ELECTRIC MOTOR VEHICLE FEE INCREASE".".
23
24 As amended, ordered revised and placed on the Calendar for Third
25 Reading and Final Passage.
26
27 A motion by Representative Melton that the Committee rise, report
28 progress and beg leave to sit again later in the day, was adopted by
29 unanimous consent. (Special Orders continued on page 1655.)

House Journal, May 8
41 Amend revised bill, page 18, strike lines 10 through 27.
42
43 Page 19, strike lines 1 through 12.
44
45 Renumber succeeding sections accordingly.
46
47 Page 30, line 7, strike "PROCEEDS," and substitute "PROCEEDS AND".
48
49 Page 30, lines 8 and 9, strike "PROCEEDS, AND REVENUE FROM AN
50 ELECTRIC MOTOR VEHICLE REGISTRATION FEE INCREASE" and substitute
51 "PROCEEDS".
52
53 Page 38, line 19, strike "subsections (2) and (3)" and substitute
54 "subsection (2)".
55
1 Page 39, line 7, strike "12" and substitute "10".
2
3 Page 39, strike lines 11 through 18.
4
5 Page 2, line 110, strike "PROCEEDS," and substitute "PROCEEDS AND".
6
7 Page 2, lines 111 and 112, strike "PROCEEDS, AND REVENUE FROM AN
8 ELECTRIC MOTOR VEHICLE REGISTRATION FEE INCREASE" and
9 substitute "PROCEEDS".
10
11 The amendment was declared passed by the following roll call vote:
12
13 YES 35 NO 30 EXCUSED 0 ABSENT
14 Arndt Y Foote Y Lewis N Saine N
15 Becker J. N Garnett Y Liston N Salazar Y
16 Becker K. Y Ginal Y Lontine N Sandridge N
17 Beckman N Gray Y Lundeen N Sias N
18 Benavidez Y Hamner Y McKean N Singer Y
19 Bridges Y Hansen Y McLachlan Y Thurlow N
20 Buck N Herod Y Melton Y Valdez Y
21 Buckner Y Hooton Y Michaelson Jenet Y Van Winkle N
22 Carver N Humphrey N Neville P. N Weissman Y
23 Catlin N Jackson Y Pabon Y Willett N
24 Coleman Y Kennedy Y Pettersen Y Williams D. N
25 Covarrubias N Kraft-Tharp Y Rankin N Wilson N
26 Danielson Y Landgraf N Ransom N Winkler N
27 Esgar Y Lawrence N Reyher N Winter Y
28 Everett N Lee Y Roberts Y Wist N
29 Exum Y Leonard N Rosenthal Y Young Y
30 Speaker Y
31
32 The question being, "Shall the bill, as amended, pass?".
33 A roll call vote was taken. As shown by the following recorded vote, a
34 majority of those elected to the House voted in the affirmative, and the
35 bill, as amended, was declared passed.
36
37 YES 36 NO 29 EXCUSED 0 ABSENT
38 Arndt Y Foote Y Lewis N Saine N
39 Becker J. N Garnett Y Liston N Salazar Y
40 Becker K. Y Ginal Y Lontine Y Sandridge N
41 Beckman N Gray Y Lundeen N Sias N
42 Benavidez Y Hamner Y McKean N Singer Y
43 Bridges Y Hansen Y McLachlan Y Thurlow N
44 Buck N Herod Y Melton Y Valdez Y
45 Buckner Y Hooton Y Michaelson Jenet Y Van Winkle N
46 Carver N Humphrey N Neville P. N Weissman Y
47 Catlin N Jackson Y Pabon Y Willett N
48 Coleman Y Kennedy Y Pettersen Y Williams D. N
49 Covarrubias N Kraft-Tharp Y Rankin N Wilson N
50 Danielson Y Landgraf N Ransom N Winkler N
51 Esgar Y Lawrence N Reyher N Winter Y
52 Everett N Lee Y Roberts Y Wist N
53 Exum Y Leonard N Rosenthal Y Young Y
54 Speaker Y
55 Representative Leonard requested his name be removed as sponsor.
1 Co-sponsor(s) added: Representative(s) Arndt, Bridges, Buckner, Coleman,
2 Danielson, Esgar, Exum, Ginal, Gray, Hamner, Hansen, Herod, Jackson,
3 Kennedy, Kraft-Tharp, Lee, Lontine, McLachlan, Melton, Michaelson Jenet,
4 Pabon, Pettersen, Roberts, Rosenthal, Salazar, Valdez, Weissman, Young,
5 Speaker
6




BILL SB18-005


Short Title: Rural Economic Advancement Of Colorado Towns
Sponsors: K. Donovan | R. Scott / D. Roberts

The bill authorizes the executive director of the department of local affairs (executive director) or the executive director's designee to coordinate the provision of nonmonetary resources to assist with job retention or creation in a rural community experiencing a significant economic event, such as a plant closure or layoffs, including industry-wide layoffs, that has a significant, quantifiable impact on jobs within that community.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
Introduced In Senate - Assigned to State, Veterans, & Military Affairs
Senate Committee on State, Veterans, & Military Affairs Refer Amended to Senate Committee of the Whole
Senate Second Reading Passed with Amendments - Committee
Senate Third Reading Passed - No Amendments
Introduced In House - Assigned to Agriculture, Livestock, & Natural Resources
House Committee on Agriculture, Livestock, & Natural Resources Refer Unamended to House Committee of the Whole
House Second Reading Passed - No Amendments
House Third Reading Passed - No Amendments
Sent to the Governor
Signed by the Speaker of the House
Signed by the President of the Senate
Governor Signed

Amendment

Senate Journal, February 8
After consideration on the merits, the Committee recommends that SB18-005 be amended
as follows, and as so amended, be referred to the Committee of the Whole with favorable
recommendation.

Amend printed bill, page 3, strike lines 10 and 11 and substitute
"DECLARES THAT A SINGLE STATE DEPARTMENT SHOULD COORDINATE
ECONOMIC".

Page 3, strike lines 16 through 20 substitute "WITH ECONOMIC
DEVELOPMENT AND REVITALIZATION.".

Page 4, strike lines 13 and 14 and substitute "NONMONETARY ASSISTANCE
PURSUANT TO SECTION 24-32-3604.".

Page 5, strike lines 5 through 7 and substitute "OTHER NONMONETARY
ASSISTANCE. THE EXECUTIVE DIRECTOR".

Page 5, line 20, after "24-1-125." add "THE EXECUTIVE DIRECTOR AND
THE EXECUTIVE DIRECTORS OF THE DEPARTMENT OF LABOR AND
EMPLOYMENT AND THE COLORADO OFFICE OF ECONOMIC DEVELOPMENT
SHALL EACH DETERMINE WHETHER SUCH ASSISTANCE REQUIRES ANY
STAFFING SUPPORT.".

Page 6, strike lines 4 through 27.

Strike pages 7 and 8.

Page 9, strike lines 1 through 6.

Renumber succeeding C.R.S. section accordingly.

Page 1, line 106, strike "AND AWARD GRANT MONEY".




BILL SB18-006


Short Title: Recording Fee To Fund Attainable Housing
Sponsors: R. Zenzinger / F. Winter

Currently, each county clerk and recorder collects a surcharge of one dollar for each document received for recording or filing in his or her office. The surcharge is in addition to any other fees permitted by statute. Section 2 of the bill allows counties to impose an increased surcharge in the amount of $5 for documents received for recording or filing on or after January 1, 2019.

In a county that has elected to collect the increased surcharge of $5, out of each $5 collected, the bill requires the clerk to retain one dollar to be used to defray the costs of an electronic or core filing system in accordance with existing law. The bill requires the clerk to transmit the other $4 collected to the state treasurer, who is to credit the same to the statewide attainable housing investment fund (fund).

Section 3 creates the fund in the Colorado housing and finance authority (authority). The bill specifies the source of money to be deposited into the fund and that the authority is to administer the fund. The bill directs that, of the money transmitted to the fund by the state treasurer, on an annual basis, not less than 25% of such amount must be expended for the purpose of supporting new or existing programs that provide financial assistance to persons in households with an income of up to 80% of the area median income for the purpose of allowing such persons to finance, purchase, or rehabilitate single family residential homes as well as to provide financial assistance to any nonprofit entity and political subdivision that makes loans to persons in such households to enable such persons to finance, purchase, or rehabilitate single family residential homes.

Section 3 also requires the authority to submit a report, no later than June 1 of each year, specifying the use of the fund during the prior calendar year to the governor and to the senate and house finance committees.


(Note: This summary applies to this bill as introduced.)



Status
Introduced In Senate - Assigned to State, Veterans, & Military Affairs
Senate Committee on State, Veterans, & Military Affairs Witness Testimony and/or Committee Discussion Only
Senate Committee on State, Veterans, & Military Affairs Postpone Indefinitely


BILL SB18-007


Short Title: Affordable Housing Tax Credit
Sponsors: J. Tate | L. Guzman / C. Duran | J. Becker

The bill changes the name of the existing low-income housing tax credit to the affordable housing tax credit. This change is reflected in sections 1 and 3 of the bill.

Section 2 extends the period during which the Colorado housing and finance authority may allocate affordable housing tax credits from December 31, 2019, to December 31, 2024.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
Introduced In Senate - Assigned to Finance
Senate Committee on Finance Refer Unamended to Appropriations
Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole
Senate Second Reading Laid Over Daily - No Amendments
Senate Second Reading Passed - No Amendments
Senate Third Reading Passed - No Amendments
Introduced In House - Assigned to Finance
House Committee on Finance Refer Amended to Appropriations
House Committee on Appropriations Refer Unamended to House Committee of the Whole
House Second Reading Special Order - Passed with Amendments - Committee, Floor
House Third Reading Laid Over to 04/26/2018 - No Amendments
House Third Reading Passed - No Amendments
Senate Considered House Amendments - Result was to Concur - Repass
Signed by the President of the Senate
Sent to the Governor
Signed by the Speaker of the House
Governor Signed

Amendment

House Journal, March 20
42 SB18-007 be amended as follows, and as so amended, be referred to
43 the Committee on Appropriations with favorable
44 recommendation:
45
46 Amend reengrossed bill, page 2, line 9, strike "(7)" and substitute "(3),
47 (4), and (7)".
48
49 Page 2, strike line 11 and substitute "developments. (3) If an owner of
50 a qualified development receiving an allocation of a credit is a
51 partnership, limited liability company, S corporation, or similar
52 pass-through entity, the owner may allocate the credit among its partners,
53 shareholders, members, or other constituent taxpayers in any manner
54 agreed to by such persons REGARDLESS OF WHETHER ANY SUCH PERSONS
55 ARE DEEMED A PARTNER FOR FEDERAL INCOME TAX PURPOSES. The owner
1 shall certify to the department the amount of credit allocated to each
2 PARTNER, SHAREHOLDER, MEMBER, OR OTHER constituent taxpayer. Each
3 PARTNER, SHAREHOLDER, MEMBER, OR OTHER constituent taxpayer shall
4 be ADMITTED AS A PARTNER, SHAREHOLDER, MEMBER, OR OTHER
5 CONSTITUENT OF THE OWNER PRIOR TO THE FILING OF A TAX CREDIT
6 CLAIMING THE CREDIT IS allowed to claim such amount subject to any
7 restrictions set forth in this part 21.
8 (4) No credit shall be allocated pursuant to this part 21 unless the
9 qualified development is the subject of a recorded restrictive covenant
10 requiring the development to be maintained and operated as a qualified
11 development, and is in accordance with the accessibility and adaptability
12 requirements of the federal tax credits and Title VIII of the "Civil Rights
13 Act of 1968", as amended by the "Fair Housing Amendments Act of
14 1988", for a period of fifteen taxable years, or such longer period as may
15 be agreed to between the authority and the owner, beginning with the first
16 taxable year of the credit period UNLESS CORRECTED WITHIN THE TIME
17 PROVIDED BY SEC. 42(h)(6)(J) OF THE INTERNAL REVENUE CODE AS
18 APPLICABLE TO THE COVENANT DESCRIBED IN THIS SUBSECTION (4).
19 (7) During each calendar year of the five-year period".
20
21

House Journal, April 24
17 Amendment No. 1, Finance Report, dated March 19, 2018, and placed in
18 member's bill file; Report also printed in House Journal, March 20, 2018.
19
20 Amendment No. 2, by Representative(s) Benavidez.
21
22 Amend the Finance Committee Report, dated March 19, 2018, page 1,
23 line 7, strike "constituent" and substitute "constituent QUALIFIED".
24
25 Page 1, line 10, after "each" insert "constituent".
26
27 Page 1, line 11, strike "constituent" and substitute "QUALIFIED" and after
28 "Each" insert "constituent".
29
30 Page 1, line 12, strike "constituent" and substitute "QUALIFIED".
31
32 Page 1, line 14, strike "CONSTITUENT" and substitute "QUALIFIED
33 TAXPAYER".
34
35 As amended, ordered revised and placed on the Calendar for Third
36 Reading and Final Passage.
37
38




BILL SB18-009


Short Title: Allow Electric Utility Customers Install Energy Storage Equipment
Sponsors: S. Fenberg | K. Priola / F. Winter | P. Lawrence

The bill declares that consumers of electricity have a right to install, interconnect, and use energy storage systems on their property, and that this will enhance the reliability and efficiency of the electric grid, save money, and reduce the need for additional electric generation facilities.

The bill directs the Colorado public utilities commission to adopt rules governing the installation, interconnection, and use of customer-sited energy storage systems.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
Introduced In Senate - Assigned to Agriculture, Natural Resources, & Energy
Senate Committee on Agriculture, Natural Resources, & Energy Lay Over Unamended - Amendment(s) Failed
Senate Committee on Agriculture, Natural Resources, & Energy Refer Amended to Senate Committee of the Whole
Senate Second Reading Passed with Amendments - Committee, Floor
Senate Third Reading Passed - No Amendments
Introduced In House - Assigned to Transportation & Energy
House Committee on Transportation & Energy Refer Unamended to House Committee of the Whole
House Second Reading Passed - No Amendments
House Third Reading Laid Over to 02/28/2018 - No Amendments
House Third Reading Laid Over to 03/01/2018 - No Amendments
House Third Reading Laid Over to 03/02/2018 - No Amendments
House Third Reading Laid Over to 03/05/2018 - No Amendments
House Third Reading Passed - No Amendments
Signed by the President of the Senate
Sent to the Governor
Signed by the Speaker of the House
Governor Signed

Amendment

Senate Journal, February 5
After consideration on the merits, the Committee recommends that SB18-009 be amended
as follows, and as so amended, be referred to the Committee of the Whole with favorable
recommendation.

Amend printed bill, page 2, line 4, strike "distributed electricity" and
substitute "energy".

Page 2, line 10, after the semicolon add "AND".

Page 2, line 14, strike "ELECTRICITY" and substitute "ENERGY".

Page 2, strike lines 15 through 21 and substitute "OTHER DISTRIBUTED
RESOURCES, AN EFFECTIVE WAY FOR RESIDENTS TO PROVIDE THEIR OWN
RELIABLE AND EFFICIENT SUPPLY OF ELECTRICITY.".

Page 2, line 23, strike "REDUCE" and substitute "LIMIT".

Page 3, line 1, strike "ELECTRICITY" and substitute "ENERGY".

Page 3, line 3, strike "ELECTRICITY" and substitute "ENERGY".

Page 3, strike lines 9 through 12 and substitute:
"(a) "ENERGY STORAGE SYSTEM" MEANS ANY COMMERCIALLY
AVAILABLE, CUSTOMER-SITED SYSTEM, INCLUDING BATTERIES AND THE
BATTERIES PAIRED WITH ON-SITE GENERATION, THAT IS CAPABLE OF
RETAINING, STORING, AND DELIVERING ENERGY BY CHEMICAL, THERMAL,
MECHANICAL, OR OTHER MEANS.".

Page 3, line 19, strike "DISTRIBUTED ELECTRICITY" and substitute
"ENERGY".

Page 3, line 22, strike "REDUCE" and substitute "LIMIT".

Page 3, line 24, strike "ELECTRICITY" and substitute "ENERGY".

Page 3, line 26, strike "DISTRIBUTED ELECTRICITY" and substitute
"ENERGY".

Page 4, line 4, strike "DISTRIBUTED ELECTRICITY" and substitute
"ENERGY".

Page 4, line 9, strike "DISTRIBUTED ELECTRICITY" and substitute
"ENERGY".

Page 4, strike lines 10 through 13 and substitute "SYSTEMS; EXCEPT THAT
THE COMMISSION MAY AUTHORIZE THE REQUIREMENT OF METERING FOR
CERTAIN LARGE ENERGY STORAGE SYSTEMS, AS DETERMINED BY THE
COMMISSION.
(4) NOTHING IN THIS SECTION ALTERS OR SUPERSEDES ANY
EXISTING ELECTRICAL PERMIT REQUIREMENTS OR ANY LICENSING OR
CERTIFICATION REQUIREMENTS FOR INSTALLERS, MANUFACTURERS, OR
EQUIPMENT.".

Page 1, line 102, strike "ELECTRICITY" and substitute "ENERGY".


Senate Journal, February 7
SB18-009 by Senator(s) Fenberg and Priola, Cooke, Guzman, Lundberg; --Concerning the right of
consumers of electricity to interconnect electricity storage systems for use on their property.

Amendment No. 1, Agriculture, Natural Resources, & Energy Committee Amendment.
(Printed in Senate Journal, February 5, pages 135-136 and placed in members' bill files.)

Amendment No. 2(L.013), by Senator Fenberg.

Amend the corrected Agriculture, Natural Resources, and Energy
Committee Report, dated February 1, 2018, page 2, strike lines 5 and 6
and substitute:

"Page 3 of the printed bill, strike line 26 and substitute "INSTALL,
INTERCONNECT, AND USE ENERGY".".

Page 2 of the report, strike line 15 and substitute:

"(4) NOTHING IN THIS SECTION ALTERS OR SUPERSEDES EITHER:
(a) THE PRINCIPLES OF NET METERING AS DESCRIBED IN SECTION
40-2-124; OR
(b) ANY".

As amended, ordered engrossed and placed on the calendar for third reading and final
passage.




BILL SB18-045


Short Title: Repeal Architectural Paint Stewardship Act
Sponsors: K. Lundberg / K. Ransom

The bill repeals the 'Architectural Paint Stewardship Act', which act requires architectural paint producers to create paint stewardship programs for the recycling of architectural paint and to fund the paint stewardship programs by charging assessments on retailers and distributors, who are then required to add the amount of the assessments to the purchase price of containers of architectural paint sold in Colorado.


(Note: This summary applies to this bill as introduced.)



Status
Introduced In Senate - Assigned to Finance
Senate Committee on Finance Refer Unamended to Appropriations
Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole
Senate Second Reading Laid Over Daily - No Amendments
Senate Second Reading Lost with Amendments - Committee

Amendment

Senate Journal, February 14
After consideration on the merits, the Committee recommends that SB18-045 be amended
as follows, and as so amended, be referred to the Committee of the Whole with favorable
recommendation.

Amend printed bill, page 2, after line 3 insert:

"SECTION 2. Appropriation - adjustments to 2018 long bill.
To implement this act, the cash funds appropriation from the paint
stewardship program cash fund created in section 25-17-408, C.R.S.,
made in the annual general appropriation act for the 2018-19 state fiscal
year to the department of public health and environment for use by the
hazardous materials and waste managment division for program costs is
decreased by $110,000 and the related FTE is decreased by 0.9 FTE.".

Renumber succeeding section accordingly.

Page 1, line 102 strike "ACT"." and substitute "ACT", AND, IN
CONNECTION THEREWITH, REDUCING AN APPROPRIATION.".


Appro-
priations




BILL SB18-063


Short Title: Oil Gas Higher Financial Assurance Reclamation Requirements
Sponsors: M. Jones / A. Benavidez

Section 2 of the bill prohibits the Colorado oil and gas conservation commission from accepting any of the available types of financial assurance unless the operator demonstrates, by clear and convincing evidence, that the financial assurance will be sufficient to finance all reasonably foreseeable expenses related to ensuring compliance with the oil and gas law if the operator fails to meet its compliance obligations. The commission shall calculate the total financial assurance required by multiplying the number of oil and gas facilities subject to the application by the projected cost to finance every reasonably foreseeable eventuality related to ensuring compliance with regard to each type of facility.

Section 4 adds reclamation requirements that are adapted from the reclamation requirements applicable to hard rock mines.
(Note: This summary applies to this bill as introduced.)



Status
Introduced In Senate - Assigned to Agriculture, Natural Resources, & Energy
Senate Committee on Agriculture, Natural Resources, & Energy Postpone Indefinitely


BILL SB18-193


Short Title: Limit State Agency Occupational Regulations
Sponsors: D. Coram / T. Carver

The bill prohibits state agencies from imposing a personal qualification requirement in order to engage in a profession or occupation unless the agency can show that the requirement is demonstrably necessary and narrowly tailored to address a specific, legitimate public health, safety, or welfare objective. On or before July 1, 2019, every agency is required to review occupational regulations and determine whether the regulation should be repealed or amended. Any person may file a petition with an agency requesting that an occupational regulation be repealed or amended. Regardless of whether a petition is filed with an agency, any person may file a civil suit requesting the court enjoin an occupational regulation.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
Introduced In Senate - Assigned to Business, Labor, & Technology
Senate Committee on Business, Labor, & Technology Witness Testimony and/or Committee Discussion Only
Senate Committee on Business, Labor, & Technology Refer Unamended to Appropriations
Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole
Senate Second Reading Laid Over Daily - No Amendments
Senate Second Reading Passed with Amendments - Committee
Senate Third Reading Passed - No Amendments
Introduced In House - Assigned to State, Veterans, & Military Affairs
House Committee on State, Veterans, & Military Affairs Postpone Indefinitely

Amendment

Senate Journal, April 11
After consideration on the merits, the Committee recommends that SB18-193 be amended
as follows, and as so amended, be referred to the Committee of the Whole with favorable
recommendation.

Amend printed bill, page 10, after line 7 insert:

"SECTION 3. Appropriation. (1) For the 2018-19 state fiscal
year, $40,415 is appropriated to the department of agriculture. This
appropriation is from the general fund and is based on an assumption that
the department will require an additional 0.4 FTE. To implement this act,
the department may use this appropriation for occupational rule review.
(2) For the 2018-19 state fiscal year, $76,887 is appropriated to
the department of education. This appropriation is from the general fund
and is based on an assumption that the department will require an
additional 0.8 FTE. To implement this act, the department may use this
appropriation for occupational rule review.
(3) For the 2018-19 state fiscal year, $40,415 is appropriated to
the department of human services. This appropriation is from the general
fund and is based on an assumption that the department will require an
additional 0.4 FTE. To implement this act, the department may use this
appropriation for occupational rule review.
(4) For the 2018-19 state fiscal year, $40,415 is appropriated to
the department of public health and environment. This appropriation is
from the general fund and is based on an assumption that the department
will require an additional 0.4 FTE. To implement this act, the department
may use this appropriation for occupational rule review.
(5) For the 2018-19 state fiscal year, $2,306,226 is appropriated
to the department of regulatory agencies. This appropriation is from the
general fund and is based on an assumption that the department will
require an additional 20.0 FTE. To implement this act, the department
may use this appropriation for occupational rule review.
(6) For the 2018-19 state fiscal year, $153,869 is appropriated to
the department of revenue. This appropriation is from the general fund
and is based on an assumption that the department will require an
additional 1.7 FTE. To implement this act, the department may use this
appropriation for occupational rule review.".

Renumber succeeding section accordingly.

Page 1, line 102, strike "REGULATIONS." and substitute "REGULATIONS,
AND, IN CONNECTION THEREWITH, MAKING AN APPROPRIATION.".


Appro-
priations




BILL SB18-236


Short Title: Least Restrictive Regulation Professions And Occupations
Sponsors: T. Neville / S. Sandridge

Current law requires the department of regulatory agencies (department) to analyze whether to begin or continue the regulation of a profession or occupation based on several factors. The bill elaborates on these factors and requires the department to find present, significant, and substantiated harm to consumers before recommending regulation. The bill further requires the department to recommend only the least restrictive regulation necessary to address the harm.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)



Status
Introduced In Senate - Assigned to Business, Labor, & Technology
Senate Committee on Business, Labor, & Technology Refer Amended to Senate Committee of the Whole
Senate Second Reading Passed with Amendments - Committee
Senate Third Reading Passed - No Amendments
Introduced In House - Assigned to State, Veterans, & Military Affairs
House Committee on State, Veterans, & Military Affairs Postpone Indefinitely

Amendment

Senate Journal, April 19
After consideration on the merits, the Committee recommends that SB18-236 be amended
as follows, and as so amended, be referred to the Committee of the Whole with favorable
recommendation.

Amend printed bill, page 2, line 5, strike "definitions." and substitute
"definition.".

Page 2, line 24, strike "SHALL" and substitute "MAY".

Page 3, line 13, after "REQUIRING" insert "THAT THE PROVIDER REGISTER
AND BE SUBJECT TO A".

Page 3, line 14, strike "PROVIDERS'" and substitute "PROVIDER'S".

Page 3, line 17, after "PROVIDER" insert "REGISTER AND".

Page 3, line 20, after "PROVIDER" insert "REGISTER AND".

Page 4, strike lines 1 through 4.

Reletter succeeding sub-subparagraph accordingly.

Page 4, strike line 12 and substitute:

"OCCUPATIONAL LICENSE;
(I) THE NEED TO ADDRESS A DIFFERENT TYPE OR MULTIPLE TYPES
OF HARM, THE DEPARTMENT MAY RECOMMEND ALTERNATIVE TYPES OF
REGULATIONS OR A COMBINATION OF TYPES OF REGULATIONS.".

Page 4, line 13, strike "SECTION:" and substitute "SECTION,".

Page 4, line 14, strike "(a)".

Page 4, line 16, strike "(I)" and substitute "(a)".

Page 4, line 17, strike "(II)" and substitute "(b)".

Page 4, line 18, strike "(III)" and substitute "(c)".

Page 4, line 19, strike "(IV)" and substitute "(d)".

Page 4, line 20, strike "(V)" and substitute "(e)".

Page 4, line 22, strike "(VI)" and substitute "(f)".

Page 4, line 23, strike "(VII)" and substitute "(g)".

Page 4, line 25, strike "(VIII)" and substitute "(h)".

Page 4, strike line 26 and substitute "GOOD OR SERVICE OR THE FACILITY
WHERE THE GOOD OR SERVICE IS PROVIDED;".

Page 4, line 27, strike "(IX)" and substitute "(i)".

Page 5, line 1, strike "(X)" and substitute "(j)".

Page 5, line 2, strike "(XI)" and substitute "(k)".

Page 5, line 3, strike "(XII)" and substitute "(l)".

Page 5, line 4, strike "(XIII)" and substitute "(m)".

Page 5, strike lines 5 through 22 and substitute:

"(n) OCCUPATIONAL LICENSE; AND
(o) A COMBINATION OF TYPES OF REGULATIONS, MORE
RESTRICTIVE TYPES OF REGULATIONS, OR A PROHIBITION, AS DETERMINED
BY THE DEPARTMENT.".

Page 6, line 14, strike "PRESUME" and substitute "PERFORM AN ORIGINAL
REVIEW THAT PRESUMES".

Page 6, line 20, strike "ENACTMENT" and substitute "CONTINUATION".

Page 6, line 25, strike "SHALL" and substitute "MAY".

Page 7, line 12, after "REQUIRING" insert" THAT THE PROVIDER REGISTER
AND BE SUBJECT TO A".

Page 7, line 13, strike "PROVIDERS'" and substitute "PROVIDER'S".

Page 7, line 16, after "PROVIDER" insert "REGISTER AND".

Page 7, line 19, after "PROVIDER" insert "REGISTER AND".

Page 7, strike line 27.

Page 8, strike lines 1 through 3.

Reletter succeeding sub-subparagraph accordingly.

Page 8, strike lines 12 through 21 and substitute:

"(I) THE NEED TO ADDRESS A DIFFERENT TYPE OR MULTIPLE TYPES
OF HARM, THE DEPARTMENT MAY RECOMMEND ALTERNATIVE TYPES OF
REGULATIONS OR COMBINATIONS OF TYPES OF REGULATIONS.
SECTION 3. Act subject to petition - effective date. This act
takes effect November 1, 2018; except that, if a referendum petition is
filed pursuant to section 1 (3) of article V of the state constitution against
this act or an item, section, or part of this act within the ninety-day period
after final adjournment of the general assembly, then the act, item,
section, or part will not take effect unless approved by the people at the
general election to be held in November 2018 and, in such case, will take
effect on the date of the official declaration of the vote thereon by the
governor.".

Business,
Labor, &
Technology