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HOUSE BILL 26-1359
BY REPRESENTATIVE(S) Sirota and Taggart, Brown;
also SENATOR(S) Bridges and Kirkmeyer, Amabile, Kolker.
CONCERNING CREDITING TO THE STATE PUBLIC SCHOOL FUND MONEY
RECEIVED FROM THE REMOVAL OF NATURAL RESOURCES ON PUBLIC
SCHOOL LANDS.
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. Legislative declaration. (1) The general assembly
finds and declares that:
(a) The public school fund, commonly referred to as the permanent
fund, is inviolate and the interest and income derived from the public school
fund must only be used on the maintenance of public schools;
(b) Revenue deposited into the public school fund from public
school lands has been high in recent years: $117 .1 million in state fiscal
year 2022-23, $154.1 million in state fiscal year 2023-24, and $114.6
million in state fiscal year 2024-25;
( c) Current projections anticipate that the amounts deposited into the
Capital letters or bold & italic numbers indicate new material added to existing law; dashes
through words or numbers indicate deletions from existing law and such material is not part of
the act.
public school fund from public school lands will exceed $100 million in
state fiscal years 2025-26 and 2026-27;
( d) Diverting revenue from public school lands to the state public
school fund instead of the public school fund has occurred on a one-time
basis in the past, most notably, in state fiscal year 2020-21 in response to
the economic impacts of the COVID-19 pandemic; and
( e) Diverting of a portion of this public school land revenue to the
state public school fund must occur on a one-time basis only so that the
value of the state's school lands and the public school fund, which are for
the intergenerational support of public schools, are not significantly
diminished.
SECTION 2. In Colorado Revised Statutes, 36-1-116, add
( 1 )( c )(IV) and ( 1 )( c )(V) as follows:
36-1-116. Disposition of rentals, royalties, and timber sale
proceeds.
(1) (c) (IV) FOR THE 2025-26 STATE FISCAL YEAR, THE FIRST
TWENTY-FIVE MILLION DOLLARS OF ROY AL TIES AND OTHER PAYMENTS FOR
THE DEPLETION OR EXTRACTION OF A NATURAL RESOURCE ON PUBLIC
SCHOOL LANDS IN EXCESS OF THE MONEY CREDITED TO THE ST A TE LAND
BOARD TRUST ADMINISTRATION FUND, PURSUANT TO SECTION 36-1-145 (3 );
CREDITED TO THE PUBLIC SCHOOL CAPITAL CONSTRUCTION ASSISTANCE
FUND CREA TED IN SECTION 22-43. 7-104 ( 1 ), PURSUANT TO SECTION
22-43. 7-104 (2)(b )(I); AND CREDITED AS SPECIFIED IN SUBSECTION ( 1 )(b )(II)
OF THIS SECTION MUST BE TRANSFERRED TO THE ST A TE PUBLIC SCHOOL FUND
CREATED IN SECTION 22-54-114. ANY AMOUNT OF ROYALTIES AND OTHER
PAYMENTS FOR THE DEPLETION OR EXTRACTION OF A NATURAL RESOURCE
ON PUBLIC SCHOOL LANDS IN EXCESS OF THE AMOUNTS DESCRIBED IN THIS
SUBSECTION (1 )( c )(IV) MUST BE CREDITED TO THE PUBLIC SCHOOL FUND
AND BECOME PART OF THE PRINCIPAL OF THE PUBLIC SCHOOL FUND.
(V) FOR THE 2026-27 STATE FISCAL YEAR, THE FIRST FORTY-FIVE
MILLION DOLLARS OF ROY AL TIES AND OTHER PAYMENTS FOR THE DEPLETION
OR EXTRACTION OF A NATURAL RESOURCE ON PUBLIC SCHOOL LANDS IN
EXCESS OF THE MONEY CREDITED TO THE ST A TE LAND BOARD TRUST
ADMINISTRATION FUND, PURSUANT TO SECTION 36-1-145 (3 ); CREDITED TO
PAGE 2-HOUSE BILL 26-1359
THE PUBLIC SCHOOL CAPITAL CONSTRUCTION ASSISTANCE FUND CREA TED IN
SECTION 22-43. 7-104 ( l ), PURSUANT TO SECTION 22-43. 7-104 (2)(b )(I); AND
CREDITED AS SPECIFIED IN SUBSECTION ( 1 )(b )(II) OF THIS SECTION MUST BE
TRANSFERRED TO THE ST A TE PUBLIC SCHOOL FUND CREA TED IN SECTION
22-54-114. ANY AMOUNT OF ROYALTIES AND OTHER PAYMENTS FOR THE
DEPLETION OR EXTRACTION OF A NATURAL RESOURCE ON PUBLIC SCHOOL
LANDS IN EXCESS OF THE AMOUNTS DESCRIBED IN THIS SUBSECTION
( 1 )( c )(V) MUST BE CREDITED TO THE PUBLIC SCHOOL FUND AND BECOME
PART OF THE PRINCIPAL OF THE PUBLIC SCHOOL FUND.
SECTION 3. Safety clause. The general assembly finds,
determines, and declares that this act is necessary for the immediate
preservation of the public peace, health, or safety or for appropriations for
PAGE 3-HOUSE BILL 26-1359
the support and maintenance of the departments of the state and state
institutions.
Juli~
SPEAKER OF THE HOUSE
OF REPRESENTATIVES
v~~
Vanessa Reilly
CHIEF CLERK OF THE HOUSE
OF REPRESENTATIVES
es Rashad Coleman, Sr.
PRESIDENT OF
THE SENATE
sther van Mourik
SECRETARY OF
THE SENATE
APPROVED OY\ YY\c)Y\Q.0--1 ct" \JI\€. k-l 2-0~ ~ \ l •. D011W"
(Datb and Time)
Jared
GOVE
PAGE 4-HOUSE BILL 26-1359
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