Current through 11/5/2024 election
Section 39-37-301 - Firearms and ammunition excise tax cash fund - creation - distribution (1)(a) The firearms and ammunition excise tax cash fund is created in the state treasury. The fund consists of money transferred to the fund pursuant to section 39-37-110 (2) and any other money that the general assembly may appropriate or transfer to the fund.(b) The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund.(2)(a) Except for any money in the fund that is annually appropriated by the general assembly pursuant to subsection (2)(b) of this section, money paid into the fund pursuant to section 39-37-110 (2) or credited to the fund pursuant to subsection (1)(b) of this section must be distributed from the fund as follows:(I)(A) The first thirty million dollars paid into the fund in the first fiscal year in which money is transferred to the fund must be transferred to the Colorado crime victim services fund created in section 24-33.5-505.5 (2) and used for crime victim services grants, as described in section 24-33.5-505.5 (3).(B) For each fiscal year thereafter, the executive director or the executive director's designee shall annually calculate and adjust the amount required to be transferred pursuant to subsection (2)(a)(I)(A) of this section for inflation or deflation and shall round the adjusted amount upward or downward to the nearest one thousand dollars. Inflation or deflation is measured by the annual percentage change in the United States department of labor's bureau of labor statistics consumer price index, or a successor index, for Denver-Aurora-Lakewood for all items paid by urban consumers. The state treasurer shall transfer the amount calculated by the executive director or the executive director's designee pursuant to this subsection (2)(a)(I)(B) in accordance with the requirement in subsection (2)(a)(I)(A) of this section.(II) After the requirement in subsection (2)(a)(I) of this section is met, the next eight million dollars paid into the fund in each fiscal year must be transferred to the behavioral and mental health cash fund created in section 24-75-230 (2)(a); and(III) After the requirement in subsection (2)(a)(II) of this section is met, the next one million dollars paid into the fund in each fiscal year must be transferred to the school security disbursement program cash fund created in section 24-33.5-1811 (1).(b) Subject to annual appropriation by the general assembly, for state fiscal year 2024-25 and any state fiscal year thereafter, the department of revenue may expend money from the fund for direct and indirect costs associated with implementing and administering this article 37.(3) Notwithstanding any other provision of this section, on June 30, 2025, and June 30, 2026, the state treasurer shall transfer from the fund to the general fund an amount of money equal to the amount of money used in the state fiscal years 2024-25 and 2025-26 from the general fund to pay the costs of implementing and administering this article 37.Added by 2024 Ch. 423,§ 1, Proposition KK passed by voters in 11/5/2024 election, eff. upon official declaration by the governor, 12/17/2024.