(1) All money received and collected in payment of the tax imposed by this part 3 shall be transmitted to the state treasurer, who shall distribute the money as follows:
(I) (Deleted by amendment, L. 2019.) (II) Repealed.
For the state fiscal year commencing July 1, 2019, and for each state fiscal yearthereafter except for the state fiscal year commencing July 1, 2020, all of the money received and collected annually shall be transferred to the public school capital construction assistance fund created by article 43.7 of title 22 or to any successor fund dedicated to a similar purpose.
For the state fiscal year commencing July 1, 2020, the lesser of the first forty million dollars received and collected or all of the money received and collected shall be transferred to the public school capital construction assistance fund created by article 43.7 of title 22 or to any successor fund dedicated to a similar purpose and the remainder of the money received and collected shall be transferred to the state public school fund created in section 2254-114 (1).
Repealed.
Source: L. 2013: Entire article added, (HB 13-1318), ch. 330, p. 1873, § 1, effective May 28. L. 2014: (1)(b) amended, (SB 14-215), ch. 352, p. 1616, § 9, effective July 1. L. 2015: (1)(b) amended, (HB 15-1367), ch. 271, p. 1068, § 6, effective June 4. L. 2018: Entire section amended, (HB 18-1070), ch. 322, p. 1930, § 2, effective May 30. L. 2019: Entire section amended, (HB 19-1055), ch. 246, p. 2406, § 5, effective May 21. L. 2020: (1)(a)(III) amended and (1)(a)(IV) added, (HB 20-1418), ch. 197, p. 942, § 7, effective June 30.
Editor's note: Subsections (1)(a)(II)(B) and (1)(b)(II) provided for the repeal of subsections (1)(a)(II) and (1)(b), respectively, effective July 1, 2020. (See L. 2019, p. 2406.)
Cross references: (1) For the legislative declaration in HB 15-1367, see section 1 of chapter 271, Session Laws of Colorado 2015.
(2) For the legislative declaration in HB 20-1418, see section 1 of chapter 197, Session Laws of Colorado 2020.