Read the full stored bill text
HOUSE BILL 26-1409
BY REPRESENTATIVE(S) Brown and Sirota, Taggart, Carter
also SENATOR(S) Bridges and Kirkmeyer, Amabile.
CONCERNING THE DISTRIBUTION OF MONEY COLLECTED FROM THE RETAIL
MARIJUANA SALES TAX.
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. In Colorado Revised Statutes, 39-28.8-203, amend
(l)(a)(I) and (l)(b)(I.6); and add (l)(b)(I.7) as follows:
39-28.8-203. Disposition of collections -definitions.
( 1) The proceeds of all money collected from the retail marijuana
sales tax are initially credited to the old age pension fund created in section
1 of article XXIV of the state constitution in accordance with sections 2 (a)
and 2 (f) of article XXIV of the state constitution and thereafter are
transferred to the general fund in accordance with section 7 of article XXIV
of the state constitution. For each fiscal year in which a tax is collected
pursuant to this part 2, an amount shall be appropriated or distributed from
the general fund as follows:
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.
(a) (I) Before July 1, 2017, an amount equal to fifteen percent of the
gross retail marijuana sales tax revenue collected by the department is
apportioned to local governments. On and after July 1, 2017, but before July
1, 2025, an amount equal to ten percent of the gross retail marijuana sales
tax revenue collected by the department is apportioned to local
governments. On and after July 1, 2025, BUT BEFORE JULY 1, 2026, an
amount equal to three and one-half percent of the gross retail marijuana
sales tax revenue collected by the department is apportioned to local
governments. The city or town share is apportioned according to the
percentage that retail marijuana sales tax revenue collected by the
department within the boundaries of the city or town bear to the total retail
marijuana sales tax revenue collected by the department. The county share
is apportioned according to the percentage that retail marijuana sales tax
revenue collected by the department in the unincorporated area of the
county bear to total retail marijuana sales tax revenue collected by the
department.
(b) (1.6) On and after July 1, 2025, BUT BEFORE JULY 1, 2026, of the
ninety-six and one-half percent of the gross retail marijuana sales tax
revenue in the general fund remaining after the allocation to local
governments required by subsection (l)(a)(I) of this section is made, the
state treasurer shall retain fourteen and fifty-one one-hundredths percent in
the general fund for use for any lawful purpose and shall transfer from the
general fund:
(1.7) ON AND AFTER JULY 1, 2026, THE STATE TREASURER SHALL
RETAIN FOURTEEN PERCENT OF THE GROSS RETAIL MARIJUANA SALES TAX
REVENUE IN THE GENERAL FUND FOR USE FOR ANY LAWFUL PURPOSE AND
TRANSFER:
(A) SEVENTY-THREE AND SEVENTEEN ONE-HUNDREDTHS PERCENT
TO THE MARIJUANA TAX CASH FUND;
(B) ELEVEN AND THIRTY-THREE ONE-HUNDREDTHS PERCENT TO THE
STATE PUBLIC SCHOOL FUND CREATED IN SECTION 22-54-114 ( 1) FOR USE AS
SPECIFIED IN SECTION 22-54-139 (3); AND
( C) ONE AND FIFTY ONE-HUNDREDTHS PERCENT TO THE MARIJUANA
CASH FUND CREATED IN SECTION 44-10-801 (l)(a).
PAGE 2-HOUSE BILL 26-1409
SECTION 2. In Colorado Revised Statutes, 39-28.8-501, add (5)(c)
as follows:
39-28.8-501. Marijuana tax cash fund -creation -distribution
-legislative declaration -repeal.
(5) (c) ON JUNE 30, 2027, AND ON EACH JUNE 30 THEREAFTER, THE
STATE TREASURER SHALL TRANSFER FROM THE FUND TO THE STATE PUBLIC
SCHOOL FUND CREATED IN SECTION 22-54-114 ( 1) AN AMOUNT EQUAL TO
THE DIFFERENCE BETWEEN THE BALANCE OF THE FUND AND:
(I) FIFTEEN PERCENT OF THE AMOUNT THAT THE GENERAL ASSEMBLY
APPROPRIATED FROM THE FUND IN THE APPLICABLE FISCAL YEAR; AND
(II) THE AMOUNT OF THE FUND, IF ANY, DESIGNATED BY THE
GENERAL ASSEMBLY IN THE GENERAL APPROPRIATION BILL OR BY SEP ARA TE
BILL TOCONSTITUTEALLORAPARTOFTHEEMERGENCYRESERVEPURSUANT
TO SECTION 24-77-104 (2) FOR THE APPLICABLE STATE FISCAL YEAR.
SECTION 3. Safety clause. The general assembly finds,
determines, and declares that this act is necessary for the immediate
PAGE 3-HOUSE BILL 26-1409
preservation of the public peace, health, or safety or for appropriations for
the support and maintenance of the departments of the state and state
institutions.
Jul~
SPEAKER OF THE HOUSE
OF REPRESENTATIVES
Vanessa Reilly
CHIEF CLERK OF THE HOUSE
OF REPRESENTATIVES
James Rashad Coleman, Sr.
PRESIDENT OF
THE SENATE
Esther van Mourik
SECRETARY OF
THE SENATE
APPROVED ~k -r-~ ~ L(--fi\ 2.02'::. q,-t 1-z_:~or
( ate and Time)
PAGE 4-HOUSE BILL 26-1409