SB 25-295

Senate Bill 25-295 in Colorado is a law that changes how money from Proposition KK, which comes from taxes on firearms and ammunition, is managed. Instead of going into the behavioral and mental health cash fund as it currently does, this money will now go to a new excise tax cash fund for similar purposes related to behavioral health. The bill also moves up the date when the old cash fund will no longer be used from 2032 to 2027. Since the status of the bill is "signed," it has been approved and enacted into law, meaning these changes are now in effect.

Official Summary

The act creates the behavioral and mental health excise tax cash fund that is designated to hold money received from the firearm and ammunition excise tax (Proposition KK) for certain behavioral health-related purposes. Current law requires $8 million that is received from Proposition KK to be transferred to the behavioral and mental health cash fund. The act requires this money to instead be transferred to the behavioral and mental health excise tax cash fund. The act requires the state treasurer to transfer the Proposition KK money in the behavioral and mental health cash fund to the behavioral and mental health excise tax cash fund. Current law repeals the behavioral and mental health cash fund on July 1, 2032. The act changes the repeal date to July 1, 2027. (Note: This summary applies to this bill as enacted.)

Votes