There is hereby created in the state treasury the state museum cash fund, referred to in this section as the "cash fund". The cash fund shall consist of all money transferred to the cash fund from the state historical fund pursuant to section 44-301201 (5); money transferred from the justice center cash fund pursuant to section 13-32-101 (7)(b)(II), as said subsection existed prior to its repeal in 2015; and any other money appropriated to the cash fund by the general assembly. Money in the cash fund shall be subject to annual appropriation by the general assembly to the state historical society to pay for the planning, design, acquisition, and construction of and relocation to a new state museum, exhibits for the museum, and for exhibit planning, development, and build-out at other facilities owned and operated by the historical society. Three million dollars and compounding interest earned on this amount beginning July 1, 2015, shall be retained in the cash fund as a controlled maintenance reserve for the new state museum and will be available for appropriation for controlled maintenance at the museum beginning in the fiscal year that begins July 1, 2027. Appropriations from the cash fund shall remain available to the state historical society for a period of four years. Any money in the cash fund not expended for the purpose of this section may be invested by the state treasurer as provided by law. All interest and income derived from the investment and deposit of money in the cash fund shall be credited to the cash fund. Any unexpended and unencumbered money remaining in the cash fund at the end of a fiscal year shall remain in the cash fund and shall not be credited or transferred to the general fund or another fund.
Source: L. 2008: Entire section added, p. 2112, § 4, effective June 4. L. 2015: Entire section amended, (SB 15-264), ch. 259, p. 961, § 72, effective August 5. L. 2016: Entire section amended, (HB 16-1352), ch. 132, p. 383, § 1, effective April 22. L. 2018: Entire section amended, (SB 18-034), ch. 14, p. 248, § 42, effective October 1.
Cross references: For the legislative declaration contained in the 2008 act enacting this section, see section 1 of chapter 417, Session Laws of Colorado 2008.