Section 24-36-120 - Authority to assess transaction fees(1) Except as provided in subsection (4) of this section, for the 2002-03 fiscal year and each fiscal year thereafter, the state treasurer is authorized to assess a fee for each eligible transaction performed by the state treasurer on behalf of state departments and agencies. Notwithstanding any other provision of law, the state treasurer shall deduct the fee from the interest earnings attributable to the fund for which the transaction was performed.(2) The amount of the fee assessed pursuant to subsection (1) of this section shall be determined annually by dividing an amount equal to the total amount appropriated to the department of the treasury for administration in the annual general appropriations act for the current fiscal year by the total number of eligible transactions performed by the state treasurer in the immediately preceding fiscal year.(3) The fees deducted by the state treasurer pursuant to subsection (1) of this section shall be subject to annual appropriation by the general assembly to the department of the treasury to fund the administration of the department.(4) The state treasurer shall not assess a fee for an eligible transaction involving any of the following funds: (a) The state education fund created in section 17 (4) of article IX of the state constitution;(b) The highway users tax fund created in section 43-4-201, C.R.S.;(c) The great outdoors Colorado trust fund created in section 2 of article XXVII of the state constitution;(d) The public school fund described in section 3 of article IX of the state constitution;(e) The old age pension fund created in section 1 of article XXIV of the state constitution;(f) Any other fund against which the assessment of a fee would be contrary to the state constitution; and(g) The college opportunity fund created in section 23-18-202, C.R.S.(5) The state treasurer shall notify each state department and agency for which the state treasurer performs eligible transactions of the amount of fees that will be deducted from any fund managed by the state department or agency no later than July 1 of the fiscal year in which the fees will be deducted.(6) As used in this section, "eligible transaction" means any cash management transaction that affects a cash balance, including, but not limited to, electronic fund transfers, payroll and other automated disbursements, payments, cash receipts, warrant transactions, check transactions, and journal entries.Amended by 2014 Ch. 328,§ 14, eff. 6/5/2014.Amended by 2014 Ch. 169,§ 16, eff. 5/9/2014.L. 2003: Entire section added, p. 510, § 1, effective March 5. L. 2004: (4) amended, p. 722, § 13, effective July 1. L. 2014: (4)(g) amended, (HB 14-1319), ch. 169, p. 614, § 16, effective May 9; (6) amended, (HB 14-1391), ch. 328, p. 1454, § 14, effective June 5.