Colo. Rev. Stat. § 22-55.5-103

Current through 11/5/2024 election

Section 22-55.5-103 - Educator pay raise fund - created

The educator pay raise fund is created in the state treasury. The fund consists of money the general assembly may appropriate or transfer to the fund. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund. Subject to annual appropriation by the general assembly, the department shall distribute money from the fund to assist school districts and charter schools to increase the salary paid to teachers and the hourly wage paid to nonlicensed employees.

C.R.S. § 22-55.5-103

Added by 2021 Ch. 485, § 1, eff. only if, at a statewide election held no later than November 2027, a majority of voters approve a measure that increases state tax revenue and requires the increased tax revenue to be deposited into the educator pay raise fund created in this code section, in which case the section takes effect simultaneously with the measure.

L. 2021: Entire article added, (SB 21-172), ch. 3472, p. 3472, § 1, effective (see editor's note).

Section 2 of chapter 485, (SB 21-172), Session Laws of Colorado 2021, provides that this section takes effect only if, at a statewide election held no later than November 2027, a majority of voters approve a measure that increases state tax revenue and requires the increased tax revenue to be deposited into the educator pay raise fund created in this section, in which case this section takes effect simultaneously with the measure.