SB 17-262

Senate Bill 17-262, which has been signed into law, adjusts how money is transferred from Colorado's general fund to other funds for transportation and construction projects. For the current fiscal year ending June 30, 2017, it reduces a transfer to the highway users tax fund (HUTF) from $158 million to $79 million. It also sets fixed amounts for future transfers: $79 million in 2018, and $160 million each year in 2019 and 2020 for HUTF; while the capital construction fund will receive no transfer this fiscal year but $60 million each in 2019 and 2020. This bill affects state funding for transportation infrastructure and construction projects, impacting how these funds are allocated over the next few years. Since it has been signed, the changes described are now in effect.

Official Summary

Joint Budget Committee. For the current state fiscal year and for the next 3 state fiscal years, the state treasurer is required to transfer money from the general fund to the capital construction fund and the highway users tax fund (Senate Bill 228 transfers). For the current fiscal year, the Senate Bill 228 transfers are fixed amounts and for the remaining years, they are a percentage of the total general fund revenues, that may be reduced or eliminated if the state has to refund excess state revenues in accordance with the taxpayer's bill of rights. The bill reduces the transfer to the highway users tax fund to be made for the current fiscal year on June 30, 2017, from $158 million to $79 million. The future conditional transfers to the highway users tax fund are replaced with the following fixed transfers: $79 million on June 30, 2018; $160 million on June 30, 2019; and $160 million on June 30, 2020. The future conditional transfers to the capital construction fund are replaced with the following fixed transfers: No transfer for the fiscal year 2017-18; $60 million on June 30, 2019; and $60 million on June 30, 2020. The bill also repeals provisions that relate to the conditional transfers. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

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